City of Surrey's 2021 - 2025 Financial Plan

MESSAGE FROMTHE CFO/GENERAL MANAGER, FINANCE

operating and maintenance costs of these parking facilities as well as contribute to the debt financing costs of the utility. Parking Meter rates vary throughout the City and are set based on market demand and may vary by time of day. In 2021, the parking rates have increased nominally at certain locations. 5.0 ROADS & TRAFFIC UTILITY FINANCIAL PLAN—SERVICE PRIORITIES Transportation services, through the Roads & Traffic Safety Utility, improves the quality of life for those living, working or visiting Surrey. This is achieved by enabling multi- modal mobility needs to move goods and people, in a safe and efficient manner that balances minimizing delays with protecting the environment. A Road and Traffic Safety Levy, that is based on the assessed value of individual properties in each property class, was established in 2008 to ensure that a stable, sustainable funding source was available to meet the growing traffic and safety needs of the City. This levy addresses the maintenance of roads, as well as traffic calming measures, crosswalks, sidewalks, and measures to reduce congestion throughout the City. There has been no proposed increase to the Roads and Traffic Safety Levy for the years 2021 - 2025 and as reflected in the Transportation section of the Financial Plan. 6.0 SEWER UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Sewer Utility provides service to more than 68,000 metered accounts, helping to support building of a healthy, sustainable community. Any projected funding requirements for sewer utilities are met by a corresponding increase in user fees. Over the last two decades, the City has been moving towards a ‘user-pay’ approach for sewer usage, with the eventual aim of retiring the ‘flat rate’ system. The Sewer Utility’s funding requirements are affected by the following factors: • Greater Vancouver Sewer and Drainage District’s (GVS&DD) projected increases of 5.8% for 2021 and an average of 13.3% for each of the remaining four years of the 2021 - 2025 Financial Plan; • Operating and maintenance cost increases; and • Capital replacement needs for aging infrastructure. These funding requirements will be addressed through increases in the sewer rates over the next several years. For 2021, the average metered single-family dwelling will pay $393 ($374 in 2020) for sanitary sewer. 7.0 SOLID WASTE UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Solid Waste Utility provides weekly residential curbside organic waste collection with alternating bi-weekly garbage and recycling services. It also provides street sanitation services to ensure the cleanliness and beautification of the City. These services include illegal dumping collection, large item pickup program (“LIPU”), litter pickup services, Pop-Up Junk events and streetscape litter bin collection. As a means of achieving our waste diversion and illegal dumping targets by the year

City of Surrey | 2021—2025 Financial Plan | Executive Overview

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