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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, 2022, on which KPMG LLP expressed an opinion without reservation in their report dated
March 16, 2023. For complete financial statements and accompanying notes, visit our website:
economicdevelopmentwinnipeg.com/2022-financials
Statement of changes in net assets
Year ended December 31, 2022, with comparative information for 2021
Invested in
capital assets
Unrestricted
Internally
restricted
2022 total 2021 total
Balances, beginning
of year
$ 806,568 $ 2,082,162 $ 700,000 $ 3,588,730 $ 3,308,802
Excess (deficiency)
of revenue over
expenditures
(190,187) 455,612 – 265,425 179,928
Transfer for acquisition
of capital assets
97,234 (97,234) – – –
Balances, end of year $ 713,615 $ 2,440,540 $ 700,000 $ 3,854,155 $ 3,588,730
