City of Surrey's 2021 - 2025 Financial Plan

MAJOR REVENUE SOURCES

TRANSFER FROM OTHER GOVERNMENTS Transfer from other governments represents grants and proceeds received from federal, provincial or other government entities and examples include the following items:

B.C. Casino Host Local Government Revenue Sharing The Province shares gambling revenue with local governments that host casinos and community gambling centres in B.C. In accordance with the Host Financial Assistance agreement between the Province of BC and the City of Surrey, the quarterly payout is based on 10% of net distribution (after deducting direct costs, facility operating expenses, and corporate overhead & support) for the Elements Casino situated in Cloverdale, Surrey. Climate Action Revenue Incentives As part of the Climate Action Revenue Incentive Program (CARIP), a conditional grant is provided from the provincial government to local governments equivalent to one hundred percent of the carbon taxes that they have paid directly. CARIP aims to reduce greenhouse gas emissions and increase climate resilience through their role in creating complete, compact, and energy efficient communities and reducing corporate emission. UBCM - Community Works Gas Tax Fund The Tripartite Agreement between Canada-British Columbia and Union of BC Municipalities provides Gas Tax Funds in order to provide predictable, long-term and stable funding to local governments in BC for investments in infrastructure and capacity building projects.

Operating and Capital Government Grants and Transfers The City also grants in support of specific departmental operations as well as capital maintenance needs. Examples include the following:

Federal Government Grants: • Infrastructure Canada; • Roads, Drainage; • Keep of Prisoners; • Summer students; • SAFE program, and • Child care

BC Provincial Government Grants: • Traffic Fines Revenue Sharing; • Library operating; • Arts; • BC One Card; • Victim services; and • Child care and seniors TransLink: • Arterial widening and intersections improvements; • Arterial paving; and • Bicycle network and other transit projects

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

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