2026 - 2030 Surrey Financial Plan

MESSAGE FROMTHE CFO/GENERAL MANAGER, FINANCE

3.0 DRAINAGE UTILITY FINANCIAL PLAN—SERVICE PRIORITIES

The Drainage Utility supports storm water management and environmental protection. This utility is structured to be self-sustaining. Projected additional funding requirements are met by a corresponding increase in the drainage parcel tax. The Drainage Utility's funding is primarily utilized for storm water management requirements; the lowland drainage dyking and flood control program; energy cost increases; and environmental management. These funding requirements will continue to be addressed through the drainage parcel tax. For 2026, the drainage parcel tax will see an increase of $3.71 to $250.71 ($247.00 in 2025) for residential and agricultural properties, and an increase of $9.06 to $613.06 ($604.00 in 2025) for commercial and industrial properties. This increase to the drainage parcel tax has been reflected in the 2026-2030 Financial Plan—Self-Funded Utilities. The Parking Utility provides a range of parking options for residential, business and transit needs, and effectively manages the demand for on and off-street parking facilities. Revenue generated from parking rates covers part of the on-going operating and maintenance costs of these parking facilities. Parking fees are reviewed annually and adjusted to maintain fairness and consistency across the City. Parking meter rates vary throughout Surrey and are set based on market demand and may vary by time of day. In 2026, few parking rates for both on-street and off-street parking lots have slightly increased, as compared to the 2025 rates. 4.0 PARKING UTILITY FINANCIAL PLAN—SERVICE PRIORITIES A Roads & Traffic Safety Levy was established in 2008 to ensure that a stable, sustainable funding source was available to meet the growing traffic and safety needs of the City. This levy addresses the maintenance of roads, as well as traffic calming measures, crosswalks, sidewalks, and measures to reduce congestion throughout the City. This transportation utility is primarily supported by a levy that is based on the assessed value of individual properties in each property class and is also funded by a contribution from the General Operating Fund. There is no 2026 increase to the Roads & Traffic Safety Levy; this is in part possible due to additional financial contributions from TransLink to support regional transportation investments. Staff will reevaluate future levy increases, as a key funding source for the Roads and Traffic program, as part of the 2027 budget process. 5.0 ROADS & TRAFFIC UTILITY FINANCIAL PLAN—SERVICE PRIORITIES

City of Surrey | 2026—2030 Financial Plan | Executive Overview

9