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, 2021, on which KPMG LLP expressed an opinion without reservation in their report dated
March 17, 2022. For complete financial statements and accompanying notes, visit our website:
economicdevelopmentwinnipeg.com/2021-financials
Statement of changes in net assets
Year ended December 31, 2021, with comparative information for 2020
Invested in
capital assets
Unrestricted
Internally
restricted
2021
total
2020 total
Balances, beginning
of year
$ 676,842 $ 1,931,960 $ 700,000 $ 3,308,802 $ 3,106,113
Excess (deficiency)
of revenue over
expenditures
(151,460) 431,388 – 279,928 202,689
Transfer for acquisition
of capital assets
281,186 (281,186) – – –
Balances, end of year $ 806,568 $ 2,082,162 $ 700,000 $ 3,588,730 $ 3,308,802
30
2021
ANNUAL
REPORT
