City of Surrey's 2024-2028 Financial Plan

CONSOLIDATED FINANCIAL SUMMARY

(in thousands)

2022

2023

2023

2024

2025 PLAN

2026 PLAN

2027 PLAN

2028 PLAN

REVENUE SUMMARY

ACTUAL

ACTUAL

BUDGET BUDGET

Taxation

General Operating Utilities Operating Gross Taxation

$

921,794 76,154 997,948 (464,941) 533,007

$ 1,050,771

$

977,147 81,641

$ 1,074,811

$ 1,111,349

$ 1,150,081

$ 1,191,162

$ 1,234,753

82,669

88,772

95,399

102,491

109,865

111,321

1,133,440

1,058,788

1,163,583 (531,677)

1,206,748 (536,995) 669,753

1,252,572 (542,365) 710,207

1,301,027 (547,789) 753,238

1,346,074 (553,266) 792,808

Less: Collection for Other Authorities

(533,367) 600,073

(469,230) 589,558

631,906

Sale of Goods and Services General Operating

79,420 221,229

94,058 248,356

80,516 238,662

93,174 257,827

96,908 281,257

100,185 299,483

103,571 317,438

107,070 339,085

Utilities Operating Reserves and Capital

2,424

509

- -

- -

- -

- -

- -

- -

Other Entities (including Consolidation adjustments)

(1,127)

(1,785)

301,946

341,138

319,178

351,001

378,165

399,668

421,009

446,155

Development Cost Charges

122,761

62,625

94,986

83,009

90,719

106,926

109,913

111,049

Developer Contributions Developer Contributions Capital External Sources Capital NCP Reserve Funds

193,728

226,295

101,087

101,032

101,032

101,032

101,032

101,032

2,320

3,654

-

-

-

-

-

-

12,237 38,170

15,166 21,406

200

800

1,600

2,180

200

200

Capital CAC & Bonus Density Contributions

29,000 10,250

11,000 10,500 123,332

12,000 10,750

12,000 11,000

12,000 11,000

11,000 11,000

Capital Cash in lieu of Parkland

4,910

6,802

251,365

273,323

140,537

125,382

126,212

124,232

123,232

Investment Income General Operating Utilities Operating Reserves and Capital

37,197

78,300

57,336

70,608

63,227

51,508

41,547

38,080

284

1,073 4,991

412

3,819

3,261

2,476

1,578

952

2,494

1,572

18,881

16,907

13,774

11,110

10,183

Other Entities (including Consolidation adjustments)

28

815

225

190

200

200

200

200

40,003

85,179

59,545

93,498

83,595

67,958

54,435

49,415

Transfers from Other Governments General Operating

29,794

59,120 13,082 127,902 200,104

30,586

57,725

37,426

37,465

13,594

13,634

Utilities Operating Reserves and Capital

9,278

7,115

7,482

7,504

7,654

7,807

7,963

37,148 76,220

113,663 151,364

77,262 142,469

41,914 86,844

32,212 77,331

24,280 45,681

36,206 57,803

Other Revenue

General Operating Utilities Operating

63,388

74,078

57,333

62,835

64,141

65,486

66,870

68,295

5,287

5,419 8,521

4,911 2,000

5,182 2,000

5,364 2,000

5,502 2,000

5,932 2,000

6,168 2,000

Reserves and Capital - Gain on Sale of Assets Other Entities (including Consolidation adjustments)

40,785

(10,219) 99,241

90

159

-

-

-

-

-

88,108

64,403

70,017

71,505

72,988

74,802

76,463

Borrowing Proceeds

-

-

-

-

-

-

-

-

$ 1,424,543

$ 1,650,550

$ 1,419,571

$ 1,495,232

$ 1,505,963

$ 1,561,290

$ 1,583,310

$ 1,656,925

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

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