2015 Financial 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 flipbook maker