City of Surrey's 2024-2028 Financial Plan

FINANCIAL SUMMARY—REVENUE

(in thousands)

2022

2023

2023

2024

2025

2026

2027

2028

REVENUE SUMMARY

ACTUAL ACTUAL BUDGET BUDGET PLAN PLAN PLAN PLAN

CORPORATE REVENUES General Property Tax Levy

$ 367,576 387,946 $

$ 384,301 438,860 $

$ 471,874 502,357 $

$ 534,966 569,850 $

Property/Folio Growth (City's Portion) Property Tax Rate Increase/(Decrease)

6,526

4,891

5,765

4,389

4,719

5,024

5,350

5,699

11,840

48,856

48,400 28,725

25,864

27,685

29,634

31,722

Provision for Adjustments

-

-

(100)

(100)

(100)

(100)

(100)

(100)

385,942 441,693

438,366 471,874 18,368 20,025 51,183 51,235 507,917 543,134

502,357 534,966

569,850 607,171

Grants in Lieu

20,480 50,431

24,536 51,175

20,252 51,745

20,490 52,260

20,743 52,780

21,011 53,305

Capital Parcel Tax

Taxation

456,853 517,404

574,354 607,716

643,373 681,487

Secondary Suite Infrastructure Fee Other Corporate Fees & Charges Corporate Sale of Goods and Services

25,491

28,897

24,511 33,369

34,704

36,091

37,535

39,037

4,581

7,170

4,820

4,812

5,574

5,778

5,985

6,193

30,072

36,067

29,331 38,181

40,278

41,869

43,520

45,230

Corporate Developer Contributions

779

1,941

-

-

-

-

-

-

Corporate Investment Income

37,197

78,300

57,336 70,608

63,227

51,508

41,547

38,080

Provincial Casino Revenue Sharing Local Govt. Climate Action Program Other Corporate Government Transfers

3,313 1,175 8,525

3,269 1,175

3,308 1,175

3,273 3,443

3,306

3,339

3,372

3,406

-

-

-

-

33,880 38,324

18,176 42,683 22,659 49,399

25,788 29,094

25,788 29,127

1,878 5,250

1,878 5,284

Corporate Government Transfers

13,013

Corporate Lease Revenue

8,391 5,089

13,156

13,145 13,925

13,977

14,030

14,084

14,139

Penalties & Interest

6,682

5,275

7,000

7,000

7,000

7,000

7,000

Corporate Other Revenues Total Corporate Revenues DEPARTMENTAL REVENUES General Government Corporate Services

13,480

19,838

18,420 20,925

20,977

21,030

21,084

21,139

551,394 691,874

635,663 722,247

727,930 751,250

754,774 791,220

227

215

219

227

234

241

248

255

Finance

1,523 8,593

1,439 9,740

1,462 1,681

1,513 1,740

1,555 1,789

1,598 1,839

1,642 1,890

1,688 1,943

Public Safety Bylaws

11,060

12,362

10,530 10,899

11,226

11,563

11,910

12,268

Fire

5,263 8,831

5,959 9,570

3,991 8,082

5,015 8,438

5,165 8,480

5,319 8,523

5,478 8,567

5,642 8,613

Police

25,154

27,891

22,603 24,352

24,871

25,405

25,955

26,523

Other Engineering Services

12,354 31,779 36,849

12,909 39,007 40,122

8,946 10,566 35,151 37,249 28,258 29,847 73,741 79,137 98,025 105,229 1,386 1,475

10,883 38,366 30,742

11,209 39,517 31,665

11,545 40,701 32,615

11,891 41,921 33,593

Parks, Recreation & Culture Planning & Development

Surrey Public Library

1,308

3,358

1,475

1,475

1,475

1,475

82,290

95,396

81,466

83,866

86,336

88,880

Total Departmental Revenues

116,037 133,027

108,126 111,110

114,181 117,346

TOTAL REVENUE

$ 667,431 824,901 $

$ 733,688 827,476 $

$ 836,056 862,360 $

$ 868,955 908,566 $

City of Surrey | 2024—2028 Financial Plan | General Operating

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