COS Financial Plan 2018 - 2022

CONTRIBUTION & EXPENDITURE OVERVIEW

NON-DISCRETIONARY CONTRIBUTIONS

Non-discretionary contributions to the capital program include those statutory reserve funds that are restrictive in their intended use. These include the following:  Development Cost Charges (Section 933 of the Local Government Act);  Neighbourhood Concept Plan (NCP) Contributions; and  Cash-in-Lieu of Parkland (Section 936 of the Local Government Act).

Contributions collected in a given year can be included as a funding source in the next year’s Capital Financial Plan. Each contribution can only be used for the purpose for which it was collected. For instance, water DCC’s can only be spent on a growth-related water project.

The City requires developers to contribute to its future growth. They must pay Development Cost Charges (DCC) in order to develop land. In some instances, they are also required to contribute to NCPs. When the City collects these contributions, it deposits them into a statutory reserve fund until the money can be spent. Development applicants must contribute either a portion of their land or a cash equivalent for park land. When the City collects cash-in-lieu, it deposits the funds in a statutory reserve fund and may only use it to purchase parkland.

Contributions collected in a given year can be included as funding sources in the next year’s Capital Financial Plan.

DISCRETIONARY CONTRIBUTIONS Discretionary contributions include appropriations of operating surplus, contributions from operating financial plans, or less restrictive statutory reserve funds.

Operating Appropriated Surplus Non-statutory reserves within operating funds are appropriations of surplus or unappropriated surplus revenues which City Council can, by simple majority vote, use for any capital or operating purpose.

Examples of these appropriations include the following:  Operating Contingency;  Innovation Fund; and  Utility Rate Stabilization Reserve.

the future lives here.

2018-2022 Financial Plan

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