2025-2029 Surrey Financial Plan

OVERVIEW OF FUND STRUCTURES Reserve Funds, Fund Surpluses and Deferred Developer Cost Charges (in thousands)

2023

2024

2024

2025 PLAN

2026 PLAN

2027 PLAN

2028 PLAN

2029 PLAN

ACTUAL

ACTUAL

BUDGET

Reserve Funds Capital legacy Municipal land

$

49,539 112,928 39,336 53,534

$

50,121 108,115 37,391 67,829 10,067 18,648

$

50,121 108,115 37,391 67,829 10,067 18,648

$

51,880 112,229 33,710 96,324

$

87,693 118,583 33,715 107,578

$

124,895 123,184 33,764 111,872

$

163,541 127,964 33,854 118,313

$

170,103 132,929 33,906 125,004

Equipment and building replacement

Neighbourhood Concept Plans

Park land acquisition

6,217

2,985

3,101

3,221

3,346

3,476

Local improvement financing Environmental stewardship

18,372

19,106

19,535

19,980

20,443

20,924

6,958 9,410 1,386 3,715

7,040 9,398 1,396 7,101

7,040 9,398 1,396 7,101

7,274 9,462 1,435

7,576

7,890

8,216

8,555

Parking space Water claims

10,429

10,634

10,847

11,068

1,491

1,549

1,609

1,671

Affordable housing

11,497 96,703 33,158 475,763

13,443 100,455 22,105 525,704 (229,600)

14,715 104,353 11,053 567,110 (229,600)

16,036 108,402

17,408 112,608

Capital Projects

65,176

79,088 64,879 461,073

79,088 64,879 461,073

Growing Communities Fund

-

-

-

366,571

612,571

637,652

Internal Borrowing

(103,160)

(63,032)

(63,032)

-

(229,600)

(196,017)

Appropriated Surplus and Committed Funds Infrastructure replacement

43,475 13,490 12,193

58,571 22,390 13,540 14,510

58,571 22,390 13,540 14,510

64,613 22,390 33,136 14,741

67,636 22,390 32,344 14,741

70,371 22,390 31,552 14,741

74,341 22,390 30,760 14,741

77,613 22,390 29,968 14,741

Revenue stabilization

Self insurance

Operating contingency and emergencies

8,610 7,244

7,277

7,277

7,405

7,405

7,405

7,405

7,405

Environmental emergencies

Committed Funds

300,945 385,957

436,298 552,586

436,298 552,586

582,070 724,355

587,674 732,190

595,392 741,851

604,951 754,588

615,367 767,484

Other Deferred Development Cost Charges

333,558 333,558

374,689 374,689

374,689 374,689

399,149 399,149

412,283 412,283

428,805 428,805

445,983 445,983

463,850 463,850

Opening Reserve Balance

$

982,926

$ 1,325,316

$ 1,325,316

$ 1,599,267

$ 1,440,578

$ 1,508,166

$ 1,583,542

$ 1,672,970

Increases to Reserves Investment Income

5,756

22,524 318,722 122,663

22,508 268,345 83,800

35,375 402,011 94,600

41,604 385,948 113,700

43,853 372,499 115,900

46,120 333,180 118,400

47,628 339,079 105,500

Operating Reserves & Surplus Contributions

233,261 101,541

Development Cost Charges (DCC)

Asset Proceeds

8,303

4,728

2,000

2,000

2,000

2,000

2,000

2,000

Repayment of Internal Borrowing

46,116 394,976

63,915 532,552

32,041 408,694

-

-

-

33,583 533,283

31,204 525,411

$

$

$

$

533,986

$

543,252

$

534,252

$

$

Decreases to Reserves Capital Expenditures from Reserves Capital Expenditures from DCCs

(68,274) (62,625) (5,988)

(72,422) (106,775)

(51,853) (83,009)

(43,934) (93,967) (229,600) (325,175) (692,676) (158,690)

(47,290) (113,175)

(47,840) (115,361)

(31,396) (117,839)

(31,396) (104,987)

Use of Internal Borrowing

(883)

-

-

-

-

-

Operating Reserves & Surplus Expenditures

84,301

(78,520) (258,600)

(242,244) (377,106)

(315,199) (475,664)

(295,674) (458,875)

(294,621) (443,856)

(302,389) (438,772)

$ $

(52,586)

$ $

$ $

$ $

$ $

$ $

$ $

$ $

Net Increase(Decrease) to Reserve

342,390

273,952

31,588

67,588

75,377

89,427

86,639

Ending Reserve Balance

$ 1,325,316

$ 1,599,267

$ 1,356,904

$ 1,440,578

$ 1,508,166

$ 1,583,542

$ 1,672,970

$ 1,759,608

Classification Adjustments and Other Entities Development Cost Charges

(374,689)

(399,149)

(384,052)

(412,283)

(428,805)

(445,983)

(463,850)

(482,361)

Surrey City Development Corporation Surrey Homelessness & Housing Society

9,551 8,433 1,828 8,513

8,246 8,369 1,636

8,051 8,517 1,846 8,598

6,546 8,453 1,652

4,546 8,538 1,669

2,346 8,623 1,686

46

(2,454)

8,709 1,703

8,796 1,720

Inventory

Prepaid Expenses

10,601

10,707

10,814

10,922

11,031

11,141

Equity in Tangible Capital Assets

10,043,360 11,022,312

10,393,622

9,997,301 10,337,445

10,283,227

10,231,684 11,392,820

10,179,921

10,129,120 11,425,570

Total Accumulated Surplus

$

$ 11,622,592

$ 10,997,165 11,393,098 $

$ 11,388,155

$

$ 11,410,529

$

Note: The following are Appropriated Surplus funds that may exist in any of the following City's funds - Infrastructure replacement Operating Funds Revenue stabilization Operating Funds Self insurance Operating Funds Operating contingency and emergencies Operating Funds Environmental emergencies Operating Funds The following are Committed funds that are specific to the noted City's funds - General operating General Operating Fund Roads & traffic operating and capital Roads & Traffic Safety Operating Fund Sewer & drainage operating and capital Sewer Operating Fund as well as Drainage Operating Fund Surrey City Energy Surrey City Energy Operating Fund Water operating and capital Water Operating Fund

City of Surrey | 2025—2029 Financial Plan | Financial Overview

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