2018 Annual Financial Report

SCHEDULE 4 UNAUDITED RESERVE FUNDS  CITY OF SURREY

As at December 31, 2018, [in thousands of dollars]

Equipment and Building Replacement

* Capital Legacy

** Municipal Land

Neighborhood Concept Plans

Park Land Acquisition

Balance, beginning of year DCC’s levied for the year

$

11,926

$

- -

$

28,892

$

19,264

$

21,317

-

-

-

-

Investment income

54

8

161 174

107

118

Other revenue

- -

21,815

4,417

12,327

Other Contributions/(Deductions)

-

-

-

-

54

21,823

335

4,524

12,445

Transfers (to) / from Operating funds

17,487

2,125

11,506

(189)

-

Capital funds

(43,843)

(28,606)

(14,889)

(5,589)

(16,382)

Internal Borrowing

14,376

4,658

869

439

947

(11,980)

(21,823)

(2,514)

(5,339)

(15,435)

Balance, end of year

$

-

$

-

$

26,713

$

18,449

$

18,327

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 $ 47,329 Internal Borrowing (to) / from other reserves 14,376 Principal Repayable, North Surrey Arena Replacement Loan (20,785)**** Principal Repayable, East Clayton Hub Facility Loan (12,916)**** Principal Repayable, Surrey Museum Expansion Loan (9,576)**** Principal Repayable, Newton Fitness Facility Loan (8,238)**** Principal Repayable, Other Facilities, Parks and Culture Loans (5,440)**** Principal Repayable, Fleetwood Recreation & Library Envelope Loan (2,013)**** Principal Repayable, Grandview Heights Pool Loan (1,730)**** Principal Repayable, Hawthorne Rotary Park Improvements Loan (886)**** Principal Repayable, Cloverdale Library Renovations Loan (121)**** Funds on Hand for Financing Projects $ - *** 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 $ 6,893 Internal Borrowing (to) / from other reserves (3,076) Receivable From Property Owners 10,122 Equity, December 31, 2018 $ 13,939

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