2025-2029 Surrey Financial Plan

CONSOLIDATED FINANCIAL SUMMARY

(in thousands)

2023

2024

2024

2025

2026 PLAN

2027 PLAN

2028 PLAN

2029 PLAN

EXPENDITURE SUMMARY

ACTUAL

ACTUAL

BUDGET

BUDGET

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

$

605,280

$

682,206

$

663,377

$

703,760

$

713,526

$

727,661

$

736,310

$

746,655

132

178

260

260

260

260

260

260

Utilities Operating Expenditures

259,692 147,244

292,737 153,003

274,858 156,586

317,288 166,758

331,367 164,856

344,865 162,933

361,877 163,527

378,076 162,951

Capital - Amortization

Other Entities (including Consolidation adjustments)

599

(3,511)

1,008

2,464

2,657

2,873

2,979

3,185

1,012,947

1,124,613

1,096,089

1,190,530

1,212,666

1,238,592

1,264,953

1,291,127

Fiscal Services & Debt Interest General Operating

11,746

10,099

9,352 1,623

10,610

12,401

14,193

15,057

15,593

Utilities Operating

1,675

1,623

1,569

1,513

1,453

1,390

1,324

13,421

11,722

10,975

12,179

13,914

15,646

16,447

16,917

Capital Expenditures Capital

343,976 226,295

458,647 212,844

376,182 100,000

582,958 100,000

352,626 100,000

311,597 100,000

319,768 100,000

280,118 100,000

Contributed Assets

Other Entities (including Consolidation adjustments)

20

9

-

-

-

-

-

-

570,291

671,500

476,182

682,958

452,626

411,597

419,768

380,118

Municipal Debt Principal General Operating

21,770

9,492 1,035

9,492 1,035

9,492 1,089

9,492 1,146

10,185

10,496

10,815

Utilities Operating

983

1,205

1,268

1,335

22,753

10,527

10,527

10,581

10,638

11,390

11,764

12,150

Transfer To (From) Capital Sources General Operating

(51,406) (71,009)

(108,874) (85,954)

57,914 66,236 33,800

111,879 91,113 (229,600) (294,985) (321,593)

84,112 96,741

93,899 102,732

44,447 109,094 33,800 (248,980) (61,639)

39,261 114,149 33,800 (239,747) (52,537)

Utilities Operating

Internal Borrowing To/(From) Reserves

40,128

63,032 22,259

-

-

Reserves and Capital

(5,341)

(277,816) (119,866)

(261,371) (80,518)

(252,418) (55,787)

(87,628)

(109,537)

Transfer To (From) Operating Sources General Operating

134,567 18,123 (33,924)

120,265

53,281 20,362 (1,500)

46,902 23,765 (1,500) (2,064) 67,103

83,917 27,650 (1,500) (2,257)

58,671 31,931 (1,500) (2,473)

94,497 32,737 (1,500) (2,579)

109,161 33,363

Utilities Operating Other Reserve Funds

4,985

(167,746)

(1,500) (2,785)

Other Entities (including Consolidation adjustments)

-

70,286

(818)

118,766

27,790

71,325

107,810

86,629

123,155

138,239

Unspecified Capital Budget Authority

-

-

(50,000)

(50,000)

(50,000)

(50,000)

(50,000)

(50,000)

$ 1,650,550

$ 1,736,615

$ 1,495,232

$ 1,591,758

$ 1,667,136

$ 1,658,067

$ 1,724,448

$ 1,736,014

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

106