City of Surrey's 2024-2028 Financial Plan

MESSAGE FROMTHE CFO/GENERAL MANAGER, FINANCE

Fire Services The 2024 Fire Services budget includes equivalent funding for 20 new positions to keep pace with City growth and increasing population density, the overall response workload in South Surrey, and support technical communications and supply chain needs. Bylaw Services Funding for 10 additional Bylaw Enforcement officers has been added to enable Bylaw Services to continue providing a high quality of service to the community while addressing increasing demand driven by population growth. The budget also incorporates necessary funding for non-public safety on-going staffing and operating costs that will allow the City to continue delivering efficient and effective services to our residents. Cost increases in 2024 are primarily related to information technology licensing costs, liability insurance costs, maintenance of existing parks inventory, corporate security costs, facility upgrades costs, hydro, natural gas and fuel costs, and other contractual cost escalations. 3.0 DRAINAGE UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Drainage Utility supports storm water management and environmental protection. This utility is structured to be self-sustaining. Projected additional funding requirements are met by a corresponding increase in the drainage parcel tax. The Drainage Utility’s funding is primarily utilized for storm water management requirements; the lowland drainage dyking and flood control program; contractual labour and energy cost increases; and environmental management. These funding requirements will continue to be addressed through the drainage parcel tax. For 2024, the drainage parcel tax will see an increase of $3.53 to $246.00 ($242.47 in 2023) for residential and agricultural properties, and an increase of $9.11 to $601.00 ($591.89 in 2023) for commercial and industrial properties. 4.0 PARKING UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Parking Utility provides a range of parking options for residential, business and transit needs, and effectively manages the demand for on and off-street parking facilities. Revenue generated from parking rates covers part of the on-going operating and maintenance costs of these parking facilities. Parking fees are reviewed annually and adjusted to maintain fairness and consistency across the City. Parking meter rates vary throughout Surrey and are set based on market demand and may vary by time of day. In 2024, the parking rates have primarily remained consistent with the 2023 rates, with the exception of minor rate changes at a few parking lots. In addition, electric vehicle (“EV”) charging rates, intended to recover operating costs and encourage EV turnover to increase utilization, have remained unchanged. The City has 56 Level 2 and three Level 3 public EV charging ports at various City recreational and operational facilities and 39 Level 2 charging ports for City fleet and City staff vehicles.

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

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