2025-2029 Surrey Financial Plan

GLOSSARY

Tax Levy—The total amount to be raised through general property taxes. Taxes—Compulsory charges levied by the City for the purpose of financing services performed for the common benefit of its citizens. TransLink— The Statutory authority responsible for the regional transportation network of the Metro Vancouver region including public transport, major roads and bridges. Triple Bottom Line (“TBL”) Accounting—While traditional accounting focuses on finding the least-cost solution in support of decision making, TBL requires that financial costs be balanced against social and environmental benefits and impacts, i.e., the full costs of a decision are considered. For example, when considering energy investments, the cost of investment into new infrastructure will be considered against long-term savings, reduced greenhouse gas and environmental impacts and access to lower cost energy for residents.

City of Surrey | 2025—2029 Financial Plan | Glossary

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