City of Surrey 2017 - 2021 Financial Plan

EXECUTIVE OVERVIEW MESSAGE FROMTHE GENERAL MANAGER, FINANCE ANDTECHNOLOGY

To the Mayor and Council, City of Surrey

I am pleased to submit the 2017 - 2021 Financial Plan for the City of Surrey.

The Community Charter requires that Council adopt a Five Year Financial Plan each year prior to the adoption of the annual Property Tax Bylaw. The 2017 - 2021 Financial Plan reinforces the 2017 - 2021 Financial Plan Bylaws, which received final adoption on December 21, 2016. The goal of the Five Year Financial Plan is to outline the financing of initiatives associated with the City’s major plans including the revised Sustainability Charter 2.0, the Official Community Plan, the Transportation Strategic Plan, the Parks, Recreation and Culture Master Plan, and the Library Master Plan, as well as Council’s key priorities. Funding these initiatives helps the City to meet the needs of its citizens. The Financial Overview includes a Five Year Consolidated Financial Plan, which includes forecasts of all revenues and expenditures related to the City’s operating and capital obligations over the next five years. The document also includes detailed information about the City’s plans for upcoming years. This supporting information provides departments with their expenditure authority. Please note that estimates and projections have been used for the years 2018 through 2021. These projections will be updated annually prior to Council’s review and approval of the Financial Plan for that year. 1.0 OVERVIEW

2.0 GENERAL OPERATING FINANCIAL PLAN—ISSUES AND PRIORITIES

Council has directed that the 2017 Financial Plan include the following:

 A property tax increase equivalent to $72.00 for an average single family dwelling, to support general expenditure increases, that will be applicable to all property classifications;  A property tax increase equivalent to $10.00 for an average single family dwelling, to support capital initiatives, that will be applicable to all property classifications;  A 3.9% across the board fee increase;  Applicable salary and benefits increases, along with associated in-range salary adjustments;  The full year impact of the 16 RCMP members and appropriate support staff approved in 2016;

2017-2021 FINANCIAL PLAN

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