City of Surrey's 2024-2028 Financial Plan

CONSOLIDATED FINANCIAL PLAN BYLAW, 2024, NO.21216

Consolidated Financial Plan To establish years 2024 to 2028 2024 2025

2026

2027

2028

PROPOSED FUNDING SOURCES Property Tax Levy

$ 491,899,000

$ 522,609,000

$ 555,456,000

$ 590,593,000

$ 628,182,000

Roads & Traffic Safety Levy Other Property Value Taxes

41,905,000

47,690,000

53,911,000

60,394,000

60,997,000

442,000

454,000

479,000

506,000

480,000

Revenues from Property Value Taxes

534,246,000

570,753,000

609,846,000

651,493,000

689,659,000

General - Capital Parcel Tax Utilities - Drainage Parcel Tax

51,235,000 46,425,000 97,660,000 631,906,000

51,745,000 47,255,000 99,000,000 669,753,000

52,260,000 48,101,000 100,361,000 710,207,000

52,780,000 48,965,000 101,745,000 753,238,000

53,305,000 49,844,000 103,149,000 792,808,000

Revenues from Parcel Taxes

Taxation Revenues

Revenues from Fees

351,001,000

378,165,000

399,668,000

421,009,000

446,155,000

Development Cost Charges Developer Contributions

83,009,000 123,332,000 93,498,000 142,469,000 70,017,000 512,325,000

90,720,000 125,382,000 83,595,277 86,844,000 71,505,000 458,046,277

106,926,000 126,212,000 67,957,546 77,331,000 72,988,000 451,414,546

109,913,000 124,232,000 54,434,915 45,681,000 74,802,000 409,062,915

111,049,000 123,232,000 49,414,819 57,803,000 76,463,000 417,961,819

Investment Income

Transfers from Other Governments

Other Revenue

Revenues from Other Sources

TOTAL FUNDING SOURCES

$ 1,495,232,000 1,505,964,277 $

$ 1,561,289,546 1,583,309,915 $

$ 1,656,924,819

PROPOSED EXPENDITURES Police Services Parks, Recreation & Culture General Government Planning & Development Surrey Public Library Engineering Services Water, Sewer & Drainage Fire Services

$ 259,615,000

$ 261,658,000

$ 263,656,000

$ 265,887,000

$ 267,710,000

94,392,000 140,588,000 150,813,000 26,678,000 26,349,000 107,362,000 237,052,000 44,159,000

102,209,000 146,866,000 139,781,000 28,019,000 27,326,000 108,807,000 259,403,000 45,133,000

111,531,000 153,272,000 146,874,000 29,460,000 28,714,000 108,811,000 280,205,000 46,331,000

121,044,000 160,361,000 153,148,000 30,976,000 29,516,000 108,456,000 295,883,000 47,351,000 11,072,000

126,903,000 174,634,000 158,119,000 32,572,000 30,664,000 111,246,000 313,127,000 48,911,000 12,390,000

Solid Waste

Surrey City Energy

7,581,000 1,500,000

9,284,000 1,500,000

9,928,000 1,500,000

Operating Contingency

1,500,000

1,500,000

Total Expenditures

1,096,089,000 1,129,986,000

1,180,282,000 1,225,194,000

1,277,776,000

Fiscal Services & Debt Interest

10,975,000

10,924,000

12,636,000

14,344,000

15,121,000

Capital Expenditures - Contributed Capital Expenditures - Current Years

100,000,000 376,182,000 476,182,000

100,000,000 574,939,000 674,939,000

100,000,000 341,664,000 441,664,000

100,000,000 302,036,000 402,036,000

100,000,000 329,437,000 429,437,000

Capital Expenditures

Municipal Debt Repayment TOTAL EXPENDITURES

10,527,000

10,581,000

10,638,000

11,390,000

11,764,000

$ 1,593,773,000 1,826,430,000 $

$ 1,645,220,000 1,652,964,000 $

$ 1,734,098,000

PROPOSED TRANSFERS BETWEEN CAPITAL AND OPERATING SOURCES Transfers To/(From) Capital Funds (161,618,000)

(162,004,000)

(159,021,000)

(124,433,000)

(146,496,000)

Internal Borrowing To/(From) Reserves

33,800,000 9,057,000 (1,105,000) 41,752,000

(195,800,000)

33,800,000

33,800,000 1,809,915 (1,191,000) 34,418,915

33,800,000

Transfers To/(From) Reserves

7,642,277 (1,132,000)

(29,454)

882,819

Utilities Transfers To/(From) Reserves Transfers To/(From) Reserve Funds

(1,161,000) 32,609,546

(1,222,000) 33,460,819

(189,289,723)

Transfers To/(From) Capital Sources

$ (119,866,000) $ (351,293,723) $ (126,411,454) $ (90,014,085) $ (113,035,181)

Transfers To/(From) Operating Sources

$

71,325,000

$

80,828,000

$

92,481,000

$

70,360,000

$

85,862,000

Unspecified Capital Budget Authority

(50,000,000)

(50,000,000)

(50,000,000)

(50,000,000)

(50,000,000)

TOTAL TRANSFERS BETWEEN SOURCES

$ (98,541,000) $ (320,465,723) $ (83,930,454) $ (69,654,085) $ (77,173,181)

BALANCED BUDGET

$

-

$

-

$

-

$

-

$

-

City of Surrey | 2024—2028 Financial Plan | Financial Overview

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