COS Financial Plan 2018 - 2022

OVERVIEW OF FUND STRUCTURES

Reserves, Contingencies & Surplus (in thousands)

2016

2017

2017

2018 PLAN

2019 PLAN

2020 PLAN

2021 PLAN

2022 PLAN

RESERVES, CONTINGENCIES & SURPLUS

ACTUAL

ACTUAL

BUDGET

Reserve Funds Equipment and building replacement

$

33,670 19,486 22,783 15,689

$

34,325 15,638 22,648 16,143

$

34,325 15,638 22,648 16,143

$

35,659 11,926 23,775 16,591

$

33,282

$

31,372

$

24,721

$

24,141

Capital legacy

-

-

-

-

Neighbourhood Concept Plans Local improvement financing

23,932 17,166

24,970 17,743

25,382 18,323

26,046 18,905

Municipal land

-

-

-

-

-

-

-

-

Environmental stewardship

6,536 9,948 1,328 1,535

6,559

6,559

6,661

6,751

6,841

6,932

7,023

Park land acquisition

18,687

18,687

26,309

20,884

31,828

42,896

54,014

Water claims Parking space

1,338 1,586

1,338 1,586

1,345 2,618

1,351 2,675

1,357 2,732

1,363 2,789

1,369 2,847

23

23

23

23

23

23

23

23

Affordable housing

110,998

116,947

116,947

124,907

106,064

116,866

122,429

134,368

Appropriated Surplus and Committed Funds Infrastructure replacement

(5,058) 15,053 13,989

(22,278)

(22,278)

(45,811)

(66,751) 11,060 16,593 10,867 71,860 34,620 24,188 7,420

(76,011)

(80,323)

(87,524)

Self insurance

13,113 16,589

13,113 16,589

12,288 16,593

9,832

8,604

7,376

Revenue stabilization

16,593 13,085

16,593 15,444

16,593 17,954

Operating contingency and emergencies

8,782 7,420

8,782 7,420

8,782 7,420

8,782 7,420

Environmental emergencies

7,420

7,420

7,420

General operating

33,432 37,434 44,145 (6,268) 38,919 187,848

44,965 39,157 37,594

44,965 39,157 37,594

63,200 38,032 30,083

86,513 30,890 17,915

105,482 26,827 11,041

130,110 23,079

Roads & traffic operating and capital Sewer & drainage operating and capital

3,534 4,909

District Energy

3,233

3,233

5,777

5,632

5,442

5,210

Water operating and capital

38,872 187,447

38,872 187,447

38,131 174,495

33,518 149,007

28,594 140,273

23,262 139,560

17,466 140,917

Other Deferred Development Cost Charges

239,631

266,968

266,968

254,294

255,852

257,398

258,936

260,636

Surrey Public Library Unappropriated Surplus

(325)

(324)

(324)

(324)

(324)

(324)

(324)

(324)

6,833

6,833

6,833

6,833

6,833

6,833

6,833

6,833

246,139 544,985

273,477 577,871

273,477 577,871

260,803

262,361 517,432

263,907 521,046

265,445 527,434

267,145 542,430

Opening Reserve Balance

$

$

$

560,205 $

$

$

$

$

Increases to Reserves Investment Income

1,921

1,707

2,998

2,184

2,046

2,034

1,991

1,976

Operating Reserves & Surplus Contributions

176,318 87,697

187,955 91,193

131,359 101,000

222,005 107,900

177,394 111,300

172,409 140,600

207,513 158,500

258,516 160,200

Development Cost Charges (DCC)

Neighbourhood Concept Plan (NCP) Contributions

5,200

5,266

5,000 3,000

2,000 2,000

5,000 2,000

6,000 2,000

6,000 2,000

6,000 2,000

Asset Proceeds

10,255

20,694

Other

40

160

45

45

45

45

45

45

$

281,431

$

306,975

$

243,402

336,134 $

$

297,785

$

323,088

$

376,049

$

428,737

Decreases to Reserves Capital Expenditures from Reserves Capital Expenditures from DCCs

(34,485) (58,945) (5,492) (149,623) (248,545)

(54,912) (100,368)

(36,072) (95,073) (4,645) (115,629) (251,419)

(117,106) (107,486)

(39,449) (110,907)

(28,655) (140,222)

(38,184) (157,965)

(78,495) (159,663)

(4,264)

(1,950)

(4,070)

(5,700)

(5,450)

(5,700)

Capital Expenditures from NCP Contributions Operating Reserves & Surplus Expenditures

(165,097) (324,641)

(152,365)

(139,745) (294,171)

(142,123) (316,700)

(159,454) (361,053)

(153,204) (397,062)

$ $ $

$ $ $

$ $ $

(378,907) $

$ $ $

$ $ $

$ $ $

$ $ $

Net Increase(Decrease) to Reserve

32,886

(17,666)

(8,017)

$

(42,773)

3,614

6,388

14,996

31,675

Ending Reserve Balance

577,871

560,205

569,854

517,432 $

521,046

527,434

542,430

574,105

Classification Adjustments and Other Entities Development Cost Charges

(266,968) (15,040) (34,247)

(254,294) (21,438) (15,910)

(274,497) (23,471) (54,036)

(255,852) (80,654)

(257,398) (91,679)

(258,936) (84,967)

(260,636) (92,614)

(262,345) (127,351)

Internal Borrowing

Surrey City Development Corporation Surrey Homelessness & Housing Society

2,704 7,526

15,162

28,918

46,207

58,595

7,879

7,451

7,879

7,601

7,677

7,754

7,832

Innovation Boulevard

-

209 929

-

211 938

213 947

215 956

217 966

219 976

Inventory

880

889

Prepaid Expenses

4,517

4,375

4,562

4,419

4,463

4,508

4,553

4,599

Equity in Tangible Capital Assets

8,102,145

8,382,625

8,212,675

8,475,753

8,543,603

8,617,872

8,702,961

8,793,066

Total Accumulated Surplus

8,377,037 $

8,664,152 $

8,443,855 $

8,672,477 $

8,743,958 $

8,843,677 $

8,951,838 $

9,049,696 $

the future lives here.

2018-2022 Financial Plan

- 75 -