City of Surrey 2020-2024 Financial Plan

OVERVIEW OF FUND STRUCTURES

Reserve Funds, Fund Surpluses and Deferred Developer Cost Charges (in thousands)

2018

2019

2019

2020 PLAN

2021 PLAN

2022

2023

2024 PLAN

ACTUAL ACTUAL BUDGET

PLAN

PLAN

Reserve Funds Capital legacy

$

46,534 22,649 35,659 23,775 26,309 16,591

$

47,329 39,002 32,611 22,521 22,372 17,015

$

47,329 39,002 32,611 22,521 22,372 17,015

$

47,847 53,947 25,714 28,003 17,408 17,417

$

49,512 57,057 28,115 28,314 16,934 16,149

$

51,425 60,198 27,259 29,618 16,522 14,841

$

53,257 63,373 26,013 30,737 16,105 13,492

$

55,006 66,581 28,637 32,068 15,684 12,101

Municipal land

Equipment and building replacement

Neighbourhood Concept Plans

Park land acquisition

Local improvement financing Environmental stewardship

6,661 2,618 1,345

6,749 2,629 1,351

6,749 2,629 1,351

6,809 2,651 1,362

6,945 2,680 1,377

7,082 2,710 1,392

7,221 2,740 1,407

7,361 2,770 1,423

Parking space Water claims

Affordable housing

23

23

23

591

598

605

612

619

182,164

191,602

191,602

201,749

207,681

211,652

214,957

222,250

Internal Borrowing

(78,695)

(105,365)

(105,365)

(144,237)

(163,302)

(152,520)

(141,634)

(130,644)

Appropriated Surplus and Committed Funds Infrastructure replacement

(45,811)

(28,318)

(28,318)

(20,546)

(4,407) 13,490 12,025

15,620 13,490 10,797

35,957 13,490

55,628 13,490

Revenue stabilization

16,593 12,288

13,490 11,732

13,490 11,732

13,490 13,253

Self insurance

9,569 8,276 7,082

8,341 8,276 7,082

Operating contingency and emergencies

8,782 7,420

8,276 7,082

8,276 7,082

8,276 7,082

8,276 7,082

8,276 7,082

Environmental emergencies

General operating

63,200 38,032 30,083

82,609 14,559 30,830

82,609 14,559 30,830

82,406 17,020 27,300

89,840 25,355 19,775

103,241 29,522 10,200

122,605 31,995

147,049 33,617 (12,303)

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

(611)

Surrey City Energy

5,777

(79)

(79)

3,762

3,579

3,343

2,991

2,535 3,923

Water operating and capital

38,131 174,495

31,728 171,909

31,728 171,909

29,096 181,139

23,671 198,686

17,592 219,163

11,041 242,395

267,638

Other Deferred Development Cost Charges

254,294

277,681

277,681

308,492

312,071

315,814

319,675

323,609

Surrey Public Library Unappropriated Surplus

(324)

(324)

(324)

(324)

(324)

(324)

(324)

(324)

6,833

6,833

6,833

6,833

6,833

6,833

6,833

6,833

260,803

284,190

284,190

315,001

318,580

322,323

326,184

330,118

Opening Reserve Balance

538,767 $

542,336 $

542,336 $

553,652 $

561,645 $

600,618 $

641,902 $

689,362 $

Increases to Reserves Investment Income

1,284

3,654

4,591

6,478

6,533

6,491

6,404

6,340

Operating Reserves & Surplus Contributions

184,989 91,131

153,031 105,953

130,763 131,100

168,799 90,900

166,195 89,800

149,679 96,600

154,126 99,400

152,460 101,500

Development Cost Charges (DCC)

Neighbourhood Concept Plan (NCP) Contributions

4,417

9,965 7,661 4,289

3,000 2,000

1,600 2,000

7,000 2,000

5,000 2,000

4,000 2,000

3,000 2,000

Asset Proceeds

34,316 21,690

Repayment of Internal Borrowing

12,455

11,985

14,449

14,721

14,996

18,042

Other

-

-

45

-

-

-

-

-

337,827 $

284,553 $

283,954 $

281,762 $

285,977 $

274,491 $

280,926 $

283,342 $

Decreases to Reserves Capital Expenditures from Reserves Capital Expenditures from DCCs

(59,898) (66,909) (5,778) (48,360) (153,313)

(38,189) (75,004) (4,672) (43,161) (112,211)

(35,229) (130,828) (2,933) (67,199) (132,961)

(21,113) (90,745) (1,600) (31,050) (129,261)

(24,423) (89,521) (6,010) (3,667) (123,383)

(23,946) (96,244) (4,210) (3,835) (104,972)

(20,974) (99,013) (3,010) (4,006) (106,463)

(22,306) (101,144)

Capital Expenditures from NCP Contributions

(3,000) (6,947)

Use of Internal Borrowing

Operating Reserves & Surplus Expenditures

(113,217)

(334,258) $

(273,237) $

(369,150) $ (85,196) $

(273,769) $

(247,004) $

(233,207) $

(233,466) $

(246,614) $

Net Increase(Decrease) to Reserve

$

3,569

$

11,316

$

7,993

$

38,973

$

41,284

$

47,460

$

36,728

Ending Reserve Balance

542,336 $

553,652 $

457,140 $

561,645 $

600,618 $

641,902 $

689,362 $

726,090 $

Classification Adjustments and Other Entities Development Cost Charges Surrey City Development Corporation Surrey Homelessness & Housing Society

(277,681)

(308,492)

(280,286)

(312,071)

(315,814)

(319,675)

(323,609)

(327,557)

6,834 6,019

(4,841)

7,972 6,079

9,204 5,805

46,178

40,707

35,247

36,243

5,748

5,863

5,922

5,981

6,041

Innovation Boulevard

48

(9)

48

-

-

-

-

-

Inventory

760

874

768

883

892

901

910

919

Prepaid Expenses

4,197

4,577

4,239

4,623

4,669

4,716

4,763

4,811

Equity in Tangible Capital Assets

8,767,818

9,088,342

8,845,805

9,128,405

9,162,029

9,193,251

9,230,226

9,266,016

Total Accumulated Surplus

9,050,331 $

9,339,851 $

9,041,765 $

9,398,494 $

9,504,435 $

9,567,724 $

9,642,880 $

9,712,563 $

Note: The following are Appropriated Surplus funds that may exist in any of the following City's funds - Infrastructure replacement Operating Funds Revenue stabilization Operating Funds Self insurance Operating Funds Operating contingency and emergencies Operating Funds Environmental emergencies Operating Funds The following are Committed funds that are specific to the noted City's funds - General operating General Operating Fund Roads & traffic operating and capital Roads & Traffic Safety Operating Fund Sewer & drainage operating and capital Sewer Operating Fund as well as Drainage Operating Fund Surrey City Energy Surrey City Energy Operating Fund Water operating and capital Water Operating Fund

75