COS Financial Plan 2018 - 2022

EXECUTIVE OVERVIEW BUDGET SUMMARY

The 2018 Five Year (2018 - 2022) Financial Plan has been developed based on direction provided by Council over the course of time and builds on the adopted 2017 Five Year (2017 - 2021) Financial Plan. The following provides a summary of the 2018 Five Year Financial Plan. See the General Operating Fund, Utilities Operating Fund and Capital Program sections for detailed schedules and additional information. CONSOLIDATED - BUDGET SUMMARY (in thousands) 2017 2018 REVENUE SUMMARY BUDGET BUDGET $ % General Operating Fund Taxation 328,802 $ 351,521 $ 22,719 $ 6.9% Departmental Revenues 82,642 85,432 2,790 3.4% Other 57,137 58,487 1,350 2.4% 468,581 495,440 26,859 5.7% Utilities Operating Funds Taxation 64,066 68,995 4,929 7.7% Departmental Revenues 168,148 178,583 10,435 6.2% Other 2,305 1,939 (366) -15.9% 234,519 249,517 14,998 6.4% Capital Program Development Cost Charges 142,168 161,595 19,427 13.7% Other Development Charges 135,807 141,848 6,041 4.4% Government Transfers 41,702 23,334 (18,368) -44.0% 319,677 326,777 7,100 2.2% Other Other Entities 14,169 23,454 9,285 65.5% Investment Income - Reserves & Capital 1,212 1,617 405 33.4% Land Sales 3,000 2,000 (1,000) -33.3% 18,381 27,071 8,690 47.3% Budgeted Revenues 1,041,158 $ 1,098,805 $ 57,647 $ 5.5% CHANGE

EXPENDITURE SUMMARY General Operating Fund General Government

$

$

4,185

9.5% 4.6% 3.1% 4.0%

43,909 227,177 151,179

$

48,094 237,573 155,823

Public Safety

10,396

Other Departments

4,644

Council Initiative Fund

250

260

10

Fiscal Services

22,358

25,019

2,661

11.9% 25.0% 20.9% 5.7% 6.3% 7.1% 6.4%

Carbon Emission Offsets

400

500

100

Contributions/Transfers to/(from)

23,308

28,171 495,440

4,863

468,581

26,859

Utilities Operating Funds Operating Expenditures

192,075 42,444 234,519 425,820 100,000 44,546 570,366 122,987 (30,377) (35,772) (289,146) (232,308)

204,080 45,437 249,517 514,093 100,000 51,984 666,077 128,567 (28,530) (84,998) (327,268) (312,229)

12,005

Contributions/Transfers to/(from)

2,993

14,998

Capital Program Capital Expenditures Contributed Assets

88,273

20.7%

-

0.0%

SCDC

7,438

16.7% 16.8%

95,711

Other

Amortization Other Entities

5,580 1,847

4.5% -6.1%

137.6% 13.2% 34.4%

Internal Borrowing

(49,226) (38,122) (79,921)

Contributions/Transfers to/(from)

Budgeted Expenditures & Transfers per Bylaw

1,041,158 $

1,098,805 $

$

57,647

5.5%

Reconciliation to Annual Financial Statements: Tangible Capital Asset expenditures Contributions/Transfers (to)/from reserves

(570,366) 294,032 (13,276) (289,610)

(666,077) 371,528 (15,893) (310,442)

(95,711) 77,496 (2,617) (20,832)

16.8% 26.4% 19.7% 7.2%

Municipal Debt

Expenditures per Financial Statements

751,548 $

788,363 $

$

36,815

4.9%

Excess Revenues Over Expenses per Financial Statements

289,610 $

310,442 $

$

20,832

7.2%

** Excess Revenues Over Expenses is used to fund the acquistion of tangible capital assets

the future lives here.

2018-2022 Financial Plan

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