City of Surrey Financial Plan 2020-2024

MAJOR REVENUE SOURCES

DEPARTMENTAL REVENUES Examples of departmental revenues include items such as:

 User fees - fees from recreation facilities, water, and solid waste removal;  Provincial revenue - traffic fine sharing, and Surrey Public Library grants;  Permit fees - fees from building permits, electrical permits, and road closure permits;  Licence revenue - fees from business licenses; and  Other fees - fees from enforcing bylaws and the sale of reports and maps. Council approved an increase equivalent to a $59 increase in taxes on an average single family dwelling for 2020.

RETURN ON INVESTMENT (INTEREST REVENUE) In 2019, the City’s investment portfolio achieved a return of 2.66%.

In its purchase of investments, the City is subject to the Community Charter as well as its own Investment Policy, approved by Council on May 6, 2013. The policy provides a framework for the City to maximize returns with minimal risk. The City’s investments are classified as follows:

Money Market Portfolio Surrey’s Money Market Portfolio is

Bond Portfolio The Bonds portfolio is comprised of investments with a term greater than two years and less than ten years. This portfolio represents 15.9% of the City’s investments. Portfolio Mix The City’s investment portfolio consists of securities purchased from Canadian Schedule I Banks (54.9%), British Columbia Credit Unions (36.0%), Cash Holdings (8.3%), and Canadian Schedule II Banks (0.8%).

comprised of investments that will mature within one year. This portfolio represents 69.7% of the City’s investments. Cash Holdings account for 8.3% of the investment portfolio. Intermediate Portfolio The Intermediate portfolio is comprised of investments with a term greater than one year and less than two years. This portfolio represents 6.1% of the City’s investments.

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