48
2018
Annual
Report
These condensed financial statements do not contain all of the disclosures required by Canadian public sector accounting standards. Readers are
cautioned that these statements may not be appropriate for their purposes. For more information on the company's financial position, results of
operations, changes in net assets and cash flows, reference should be made to the complete financial statements of Economic Development
Winnipeg Inc. as at and for the year ended December 31, 2018, on which KPMG LLP expressed an opinion without reservation in their report
dated March 7, 2019. For complete financial statements and accompanying notes, visit our website:
economicdevelopmentwinnipeg.com/2018-financials
Statement of Changes in Net Assets
Year ended December 31, 2018, with comparative information for 2017
Invested in
Capital Assets
Unrestricted
Internally
Restricted
2018 Total 2017 Total
Balances, beginning of year $ 574,711 $ 1,277,592 $ 350,000 $ 2,203,303 $ 1,503,142
Excess (deficiency) of
revenue over expenditures
(114,015) 858,837 - 744,822 699,161
Transfer to internally
restricted net assets
- (350,000) 350,000 - -
Transfer for acquisition
of capital assets
30,877 (30,877) - - -
Balances, end of year $ 491,573 $ 1,755,552 $ 700,000 $ 2,947,125 $ 2,202,303
