City of Surrey's 2024-2028 Financial Plan

MESSAGE FROMTHE CFO/GENERAL MANAGER, FINANCE

5.0 ROADS & TRAFFIC UTILITY FINANCIAL PLAN—SERVICE PRIORITIES Transportation services, through the Roads & Traffic Safety Utility, improves the quality of life for those living, working, or visiting Surrey. This is achieved by enabling multi-modal mobility options to move goods and people in a safe and efficient manner that balances minimizing delays with protecting the environment. A Roads & Traffic Safety levy, that is based on the assessed value of individual properties in each property class, was established in 2008 to ensure that a stable, sustainable funding source was available to meet the growing traffic and safety needs of the City. A 1.0% increase to the Roads & Traffic Safety levy (equating to approximately $25 for the average assessed single-family dwelling) has been approved to support on-going operating, maintenance, and capital improvements in relation to the City’s transportation infrastructure. This increase to the levy for the years 2024 - 2028 has been reflected in the Transportation section of the Financial Plan. 6.0 SEWER UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Sewer Utility provides service to more than 71,000 metered accounts, helping to support the building of a healthy, sustainable community. Any projected funding requirements for sewer utilities are met by a corresponding increase in user fees.

The Sewer Utility’s funding requirements are affected by the following factors:

• Combined City and Greater Vancouver Sewerage and Drainage District (“GVS&DD”) increases of 14.5% for 2024;

• The GVS&DD sewer rates are projected to increase an average of 8.93% per year for each of the remaining four years of the Five-Year Plan;

• Operating and maintenance cost increases; and

• Capital replacement needs for aging infrastructure.

These funding requirements will be addressed through increases in the sewer rates over the next several years. For 2024, the average metered single-family dwelling will pay $550.38 ($480.50 in 2023) for sanitary sewer, based on an average sewerage discharge of 309.6 cubic meters per year, calculated at 86% of the estimated volume of water consumed. 7.0 SOLID WASTE UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The City provides weekly residential curbside organic waste collection with alternating bi-weekly garbage and recycling services to approximately 107,900 single-family households and 34,000 secondary suites. The City also provides centralized recycling

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

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