City of Surrey 2016 Annual Report

SCHEDULE 8 UNAUDITED DRAINAGE OPERATING FUND  CITY OF SURREY

For the year ended December 31, 2016, with comparative figures for 2015 [in thousands of dollars]

2016 Utility Rates Budget

2015

2016

(Schedule 2)

REVENUES Taxation revenue

$ 33,993

$ 32,050

$ 33,746

Development cost charges

- - -

(14)

-

Developer contributions

153 188

180 110

Investment income

Other

207

92

99

34,200

32,469

34,135

EXPENSES Drainage

13,176 13,176

12,929 12,929

12,405 12,405

Excess of Revenues over Expenses

21,024

19,540

21,730

Transfers to other funds and reserves

(21,024)

(22,362)

(25,058)

ANNUAL DEFICIT

-

(2,822)

(3,328)

Accumulated Surplus, beginning of year

- -

18,779

15,957

Accumulated Surplus, end of year

$

$ 15,957

$ 12,629

The 2016 Tax Levy Budget was used to determine 2016 taxation rates.

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