City of Surrey's 2024-2028 Financial Plan

MAJOR REVENUE SOURCES

TRANSFER FROM OTHER GOVERNMENTS Transfer from other governments represents grants and proceeds received from federal, provincial or other government entities, examples include the following items:

Federal Government Grants: • Housing Accelerator Fund; • Rapid Housing Initiative; • Infrastructure Canada; • Roads, Drainage & Sewer; • Keep of Prisoners; • Summer students; • SAFE program; and • Child Care & Youth

BC Host Local Government Revenue Sharing The Province shares gaming revenue with local governments that host casinos and community gaming centres in BC. In accordance with the Host Financial Assistance agreement between the Province of BC and the City of Surrey, the quarterly payout is based on 10% of net distribution (after deducting direct costs, facility operating expenses, and corporate overhead & support) for the Elements Casino located in Cloverdale. UBCM - Canada Community-Building Fund The Tripartite Agreement between Canada, British Columbia and the Union of BC Municipalities provides gas tax funds through the Community Works Fund program to provide predictable, long-term and stable funding to local governments in BC for investments in infrastructure and capacity building projects. Operating and Capital Government Grants and Transfers The City also receives grants in support of specific departmental operations as well as capital maintenance needs. Examples include the following:

BC Provincial Government Grants: • BC Growing Communities Fund; • Ministry of Transportation and Infrastructure; • Traffic Fines Revenue Sharing; • Flooding mitigation funding; • Library operating; • Arts; • BC One Card; • Victim services; and • Child care and seniors TransLink: • Arterial widening and intersection improvements; • Arterial paving; • Arterial bridges; • Traffic signals, signs, and marking; and • Bicycle network and other transit projects

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

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