COS Financial Plan 2018 - 2022

FINANCIAL OVERVIEW OVERVIEW OF FUND STRUCTURE

The 2018 - 2022 Financial Plan consolidates the results of the City’s Operating, Capital, Reserve, and Utility Funds, as well as those of the Surrey City Development Corporation and the Surrey Homelessness and Housing Society.

OPERATING & CAPITAL FUNDS

Operating and Capital funds include the following:

General

Roads and Traffic Safety

Surrey City Energy

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Drainage

Sewer

Water

Parking

Solid Waste

Operating funds are used to report the operating activities of the City, whereas capital funds are used to record the acquisition of capital assets, amortization and any related long-term debt. RESERVE FUNDS Under the Community Charter, City Council may use bylaws to establish Reserve Funds for specified purposes. Money in a special Reserve Fund and the interest earned on it may only be used for the purpose for which the fund was established. If the amount in a Reserve Fund is greater than required, City Council may, by bylaw, transfer all or part of the amount to another Reserve Fund. Surrey currently has the following Reserve Funds: • Equipment and Building Replacement; • Municipal Land; • Parkland Acquisition; • Capital Acquisition; • Environmental Stewardship; • Local Improvement Financing; • Water Claims; • Affordable Housing; • Parking Space; • Development Cost Charges; and • Neighbourhood Concept Plan. TRUST FUNDS Trust funds contain assets which are to be administered as directed by agreement or statute for certain beneficiaries. Trusts administered by the City are not included in the City’s Consolidated Budget.

the future lives here.

2018-2022 Financial Plan

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