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

EXPENDITURE SUMMARY

ACTUAL

ACTUAL

BUDGET BUDGET

Departmental Expenditures General Operating - Departmental Expenditures General Operating - Council Initiative Fund

$

545,353

$

605,280

$

697,423

$ 663,377

$

672,980

$

702,077

$

730,968

$

754,237

108

132

260

260

260

260

260

260

Utilities Operating Expenditures

243,818 142,440

259,692 147,244

249,475 149,732

274,858 156,586

294,625 161,574

310,321 167,076

323,507 169,900

338,521 184,198

Capital - Amortization

Other Entities (including Consolidation adjustments)

1,659

599

1,436

1,008

547

548

559

560

933,378 1,012,947

1,098,326 1,096,089

1,129,986 1,180,282

1,225,194 1,277,776

Fiscal Services & Debt Interest General Operating

10,095

11,746

9,640 1,675

9,352 1,623

9,355 1,569

11,123

12,891

13,731

Utilities Operating

1,724

1,675

1,513

1,453

1,390

11,819

13,421

11,315

10,975

10,924

12,636

14,344

15,121

Capital Expenditures Capital Contributed Assets

476,187 193,728

343,976 226,295

394,330 100,000

376,182 100,000

574,939 100,000

341,664 100,000

302,036 100,000

329,437 100,000

Other Entities (including Consolidation adjustments)

219

20

-

-

-

-

-

-

670,134

570,291

494,330

476,182

674,939

441,664

402,036

429,437

Municipal Debt Principal General Operating

9,514

21,770

21,770

9,492 1,035

9,492 1,089

9,492 1,146

10,185

10,496

Utilities Operating

935

983

983

1,205

1,268

10,449

22,753

22,753

10,527

10,581

10,638

11,390

11,764

Transfer To (From) Capital Sources General Operating

(71,089) (52,113)

(51,406) (71,009) 40,128 (5,341) (87,628)

12,246 63,600 14,996

57,914 66,236 33,800

51,110 72,918

38,916 78,021 33,800

40,623 85,496 33,800

40,814 92,848 33,800

Utilities Operating

Internal Borrowing To/(From) Reserves

22,875

(195,800) (279,523) (351,295)

Reserves and Capital

(29,022)

(240,891) (150,049)

(277,816) (119,866)

(277,148) (126,411)

(249,933) (90,014)

(280,497) (113,035)

(129,349)

Transfer To (From) Operating Sources General Operating

31,272 14,494

134,567 18,123 (33,924)

(22,647) 18,095 (1,500) (1,052) (7,104)

53,281 20,362 (1,500)

59,059 23,616 (1,500)

66,692 27,637 (1,500)

40,228 31,991 (1,500)

55,228 32,494 (1,500)

Utilities Operating Other Reserve Funds

(117,654)

Other Entities (including Consolidation adjustments)

-

-

(818)

(347)

(348)

(359)

(360)

(71,888)

118,766

71,325

80,828

92,481

70,360

85,862

Unspecified Capital Budget Authority

-

-

(50,000)

(50,000)

(50,000)

(50,000)

(50,000)

(50,000)

$ 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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