2015 City of Surrey Annual Report

City of Surrey Schedule 11

**Local Improvement Financing

****Deferred Development Charges

Environmental Stewardship

Water Claims

Affordable Housing

Parking Space

Reserves Subtotal

Future Commitments

$ 6,448

$ 15,173

$ 1,315

$

8

$ 1,260

$ 95,658

$ 229,595

$ 110,343

-

66,798

-

65

64

13

-

12

887

1,836

-

-

-

-

-

263

7,560

-

-

-

-

-

15

-

5,669

-

-

65

64

13

15

275

14,116

68,634

-

(23)

(452)

-

-

-

(32,617)

-

-

-

-

-

-

-

54,606

(58,598)

73,889

-

-

-

-

-

(23,213)

(23,213)

-

(23)

(452)

-

-

-

(1,224)

(81,811)

73,889

$ 6,536

$ 15,689

$ 1,328

$

23

$ 1,535

$ 110,998

$216,418

$ 184,232

*** Municipal Land Reserve Fund: The City borrows from this Fund to finance specified projects. Principal and interest repayment schedules are based upon reasonable business case plans approved by City Council. Municipal Land Fund Prior to Borrowing $ 5,665 Internal Borrowing from Reserves 22,958 Principal Repayable, City Centre Land Loan (3,759) Principal Repayable, City Centre Social Lands Loan (3,454) Principal Repayable, City Centre Development Loan (2,442) Principal Repayable, University Drive (981) Principal Repayable, City Parkway (1,124) Principal Repayable, Social Housing Loan (1,433) Principal Repayable, Bridgeview Ind. Land Loan (54) Principal Repayable, Green Timbers (15,376) Funds on Hand for Financing Projects $ - **** Deferred Development Charges: The City borrowed from this Fund to resolve revolving fund shortfall. Principal and interest to be repaid. Deferred Development Cost Charges per note 10 $ 239,631

Less: Internal borrowings

(23,213)

Funds on Hand for Financing Projects

$ 216,418

97