2015 City of Surrey Annual Report
City of Surrey
Schedule 11 UNAUDITED RESERVE FUNDS
As at December 31, 2015, [in thousands of dollars]
Equipment and Building Replacement
*** Municpal Land
Park Land Acquisition
*Capital Legacy
Neighborhood Concept Plans
Balance, beginning of year
$
35,888
$
-
$
8,876
$
2,854
$
23,836
DCC's levied for the year Investment income
359
17
88
28
241
Other revenue
-
26
4,167
-
3,104
Other expenditures
164
5,490
-
-
-
523
5,533
4,255
28
3,345
Transfers from (to) Operating funds
(12,667)
360
-
(20,677)
842
Capital funds
15,408
28,386
3,183
4,073
3,556
Internal borrowing
-
(23,213)
-
-
-
2,741
5,533
3,183
(16,604)
4,398
Balance, end of year
$
33,670
$
-
$
9,948
$
19,486
$
22,783
ADDITIONAL INFORMATION: * Capital Legacy Reserve Fund (created by Bylaw in 1999):
The City borrows from this Fund to finance capital projects. Principal and interest repayment schedules are based upon reasonable business case plans approved by City Council. The debt costs are provided for annually within the operating budget of each capital project.
Capital Legacy Fund Prior to Borrowing
$
45,530
Principal Repayable, Guildford Pool Loan
(25,105)
Principal Repayable, RCMP Facility Loan
(926)
Principal Repayable, East Clayton Fitness Facility Loan
(13)
Funds on Hand for Financing Projects
$
19,486
** Local Improvement Financing Reserve Fund: The City borrows from this Fund to finance local improvement projects. The property owners’ share, repayable with interest over 10 years, is levied against the benefiting properties. The City’s share, repayable with interest over 10 years, is provided for annually within General Operating Fund debt costs.
Funds on Hand For Financing Projects
$
7,386
Receivable From Property Owners
8,303
Equity, December 31, 2015
$
15,689
96
Made with FlippingBook