2018 - 2022 FINAL Financial Plan (interactive version)

MESSAGE FROMTHE GENERAL MANAGER, FINANCE

10.0 GENERAL CAPITAL FINANCIAL PLAN—ISSUES AND PRIORITIES The City continues to undertake a number of large-scale capital projects to accommodate and support anticipated business and residential growth. The 2018 - 2022 Financial Plan includes a further $301 million investment over the next five years. The funding for these projects will be primarily through internal borrowing, although this approach will be re-evaluated periodically and with consultation with Mayor and Council. These projects include a new recreation and cultural facility in Clayton, a new Cloverdale twin ice surface facility, a replacement facility for the arenas in North Surrey, the second phase of the Surrey Museum expansion, various park additions and expansions, and a partnership with the YMCA to deliver recreation services in the City Centre. The City has ongoing capital requirements of over $18.5 million per year. The City must also fund minor capital projects including improved parking at various recreation centres, equipment and security upgrades as well as recreation facility entrance improvements. Additional details of planned capital projects can be found in the Capital Program section of this document. 11.0 CONCLUSION The 2018 - 2022 Financial Plan incorporates Council’s direction in relation to property tax increases. The City of Surrey continues to have one of the lowest property tax rates in the Lower Mainland. I wish to thank all the staff of the City for their dedication and commitment to the delivery of quality services to Surrey citizens and businesses, while meeting Council’s financial direction. I also want to acknowledge the efforts of the staff that contributed directly to the preparation of the 2018 - 2022 Financial Plan. Respectfully,

Kam Grewal, CPA, CMA General Manager, Finance

the future lives here.

2018-2022 Financial Plan

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