City of Surrey 2017 - 2021 Financial Plan

Overview of Fund Structure—Reserves, Contingencies & Surplus

2015

2016

2016

2017

2018 PLAN

2019 PLAN

2020 PLAN

2021 PLAN

RESERVES, CONTINGENCIES & SURPLUS

ACTUAL

ACTUAL

BUDGET

BUDGET

Reserve Funds Equipment and building replacement

$

35,888

$

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

$

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

$

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

$

45,863

$

57,541

$

69,560

$

81,822

Capital legacy

2,854

-

-

-

-

Neighbourhood Concept Plans Local improvement financing

23,836 15,173

23,139 16,643

23,768 17,146

24,474 17,652

24,921 18,161

Municipal land

-

-

-

-

-

-

-

-

Environmental stewardship

6,448 8,876 1,315 1,260

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

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

6,559

6,502

6,445

6,388 9,836 1,362 1,751

6,330 6,850 1,370 1,807

Park land acquisition

18,687

15,754

12,804

Water claims Parking space

1,338 1,586

1,346 1,641

1,354 1,696

8

23

23

23

23

23

23

23

Affordable housing

95,658

110,998

110,998

116,947

110,911

120,777

131,046

141,284

Appropriated Surplus and Committed Funds Infrastructure replacement

6,103

(5,058) 15,053 13,989

(5,058) 15,053 13,989

(22,278)

(25,424)

(26,224)

(30,466)

(31,805)

Self insurance

15,982 13,250

13,113 16,589

11,885 16,589 10,742 50,803 36,119 32,266 7,420

10,657 16,589 12,827 55,737 32,794 26,654 7,420

9,429

8,201

Revenue stabilization

16,589 15,045

16,589 17,404

Operating contingency and emergencies

8,758 5,346

8,782 7,420

8,782 7,420

8,782 7,420

Environmental emergencies

7,420

7,420

General operating

28,551 26,843 43,011 (3,585) 38,406 182,665

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

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

44,965 39,157 37,594

63,724 29,165 20,766

73,462 25,201 14,585

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

District Energy

3,233

3,150

2,998

2,790

2,510

Water operating and capital

38,872 187,447

34,387 177,937

29,639 169,091

24,678 159,140

19,400 152,967

Other Deferred Development Cost Charges

229,595

239,631

239,631

266,968

274,497

281,518

286,426

291,726

Surrey Public Library Unappropriated Surplus

(325)

(325)

(325)

(324)

(324)

(324)

(324)

(324)

6,833

6,833

6,833

6,833

6,833

6,833

6,833

6,833

236,103 514,426

246,139 544,985

246,139 544,985

519,616

281,006 569,854

288,027 577,895

292,935 583,121

298,235 592,486

Opening Reserve Balance

$

$

$

577,871 $

$

$

$

$

Increases to Reserves Investment Income

2,723

1,921

3,536

2,998

2,931

2,949

2,954

2,954

Operating Reserves & Surplus Contributions

173,487 66,798

176,318 87,697

225,696 95,000

131,359 101,000

188,992 110,000

153,585 149,000

140,245 170,000

150,735 182,000

Development Cost Charges (DCC)

Neighbourhood Concept Plan (NCP) Contributions

3,367 4,357

5,200

7,000 5,000

5,000 3,000

3,000 2,000

5,000 2,000

4,000 2,000

6,000 2,000

Asset Proceeds

10,255

Other

15

40

-

45

45

45

45

45

$

250,747

$

281,431

$

336,232

243,402 $

$

306,968

$

312,579

$

319,244

$

343,734

Decreases to Reserves Capital Expenditures from Reserves Capital Expenditures from DCCs

(51,050) (58,598) (3,556) (106,984) (220,188)

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

(58,602) (89,158) (6,441) (224,701) (378,902)

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

(76,886) (104,627)

(25,461) (145,781)

(4,187)

(4,064)

(166,420)

(178,532)

(2,510)

(4,437)

(3,700)

(5,700)

Capital Expenditures from NCP Contributions Operating Reserves & Surplus Expenditures

(114,904) (298,927)

(131,674) (307,353)

(135,572) (309,879)

(138,644) (326,940)

$ $ $

$ $ $

$ $ $

(251,419) $

$ $ $

$ $ $

$ $ $

$ $ $

Net Increase(Decrease) to Reserve

30,559

32,886

(42,670)

$

(8,017)

8,041

5,226

9,365

16,794

Ending Reserve Balance

544,985

577,871

502,315

569,854 $

577,895

583,121

592,486

609,280

Classification Adjustments and Other Entities Development Cost Charges

(239,631) (23,213) (74,366)

(266,968) (15,040) (67,816)

(266,154) (44,700) (64,366)

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

(281,518) (81,486) (30,922)

(286,426) (83,609) (13,964)

(291,726) (60,320)

(296,945) (39,191)

Internal Borrowing

Surrey City Development Corporation Surrey Homelessness & Housing Society

4,292 7,879

26,081

8,012

7,879

8,012

7,879

7,879

7,879

7,879

857

880

866

889

898

907

916

925

Inventory

Prepaid Expenses

3,997

4,517

4,037

4,562

4,608

4,654

4,701

4,748

Equity in Tangible Capital Assets

7,940,493

8,135,714

8,299,121

8,212,675

8,298,132

8,379,197

8,459,816

8,540,153

Total Accumulated Surplus

8,161,134 $

8,377,037 $

8,439,131 $

8,443,855 $

8,495,486 $

8,591,759 $

8,718,044 $

8,852,930 $

2017-2021 FINANCIAL PLAN

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