City of Surrey's 2021 - 2025 Financial Plan

OVERVIEW OF FUND STRUCTURES Reserve Funds, Fund Surpluses and Deferred Developer Cost Charges (in thousands)

2019

2020

2020

2021 PLAN

2022 PLAN

2023 PLAN

2024 PLAN

2025 PLAN

ACTUAL

ACTUAL

BUDGET

Reserve Funds Capital legacy

$

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

$

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

$

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

$

48,981 63,463 29,067 31,227

$

49,520 65,801 31,991 31,333 13,902 17,864

$

50,046 68,140 35,425 32,260 21,749 17,925

$

50,543 70,480 39,070 33,170 29,123 17,986

$

51,011 72,821 42,928 34,083 36,022 18,047

Municipal land

Equipment and building replacement

Neighbourhood Concept Plans

Park land acquisition

4,651

Local improvement financing Environmental stewardship

17,803

6,749 2,629 1,351

6,809 2,651 1,362

6,809 2,651 1,362

6,855 3,089 1,378 1,058 1,108

6,938 3,100 1,383 1,062 1,162

7,022 3,111 1,388 1,066 1,166

7,106 3,122 1,393 1,070 1,220

7,190 3,133 1,398 1,074 1,224

Parking space Water claims

23

591

591

Affordable housing

Capital Projects

-

-

-

191,602

201,749

201,749

208,680

224,056

239,298

254,283

268,931

Internal Borrowing

(105,365)

(144,237)

(144,237)

(149,909)

(143,752)

(132,397)

(121,004)

(109,571)

Appropriated Surplus and Committed Funds Infrastructure replacement

(28,318)

(20,546)

(20,546) 13,490

(9,687) 13,490 12,825

(66)

11,767 13,490 10,369

28,681 13,490

45,404 13,490

Revenue stabilization

13,490 11,732

13,490 13,253

13,490 11,597

Self insurance

13,253

9,141 8,607 7,082

7,249 8,607 7,082

Operating contingency and emergencies

8,276 7,082

8,276 7,082

8,276 7,082

8,607 7,082

8,607 7,082

8,607 7,082

Environmental emergencies

82,609 14,559 30,830

82,406 17,020 27,300

82,406 17,020 27,300

172,816 25,360 26,428

159,854 22,161 17,009

156,648 19,109

151,705 15,959

146,867 12,709

General operating

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

6,704 2,620 8,940

729

451

Surrey City Energy

(79)

3,762

3,762

3,168

2,945

2,191 2,220

1,643

Water operating and capital

31,728 171,909

29,096 181,139

29,096 181,139

21,379 281,468

15,315 257,994

51

245,336

239,805

243,553

Other Deferred Development Cost Charges

277,681

308,492

308,492

314,510

315,797

317,189

318,623

320,249

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

315,001

321,019

322,306

323,698

325,132

326,758

315,001

284,190

Opening Reserve Balance Increases to Reserves Investment Income

542,336 $

553,652 $

553,652 $

661,258 $

660,604 $

675,935 $

698,216 $

729,671 $

3,654

5,414

6,478

2,029

2,024

2,011

2,015

2,048

Operating Reserves & Surplus Contributions

153,031 105,953

214,636 60,349

168,799 90,900

184,129 56,100

181,279 101,000

174,990 91,600

182,970 133,800

174,645 88,400

Development Cost Charges (DCC) Neighbourhood Concept Plan (NCP)

9,965 7,661 4,289

5,910 1,539

1,600 2,000

1,100 2,000

5,000 2,000

1,000 2,000

3,000 2,000

1,000 2,000

Asset Proceeds

Repayment of Internal Borrowing

12,355

11,985

14,449

14,721

14,996

18,042

16,398

Other

-

-

-

-

-

-

-

-

306,024 $

286,597 $

341,827 $

284,491 $

259,807 $

284,553 $

300,203 $

281,762 $

Decreases to Reserves Capital Expenditures from Reserves Capital Expenditures from DCCs Capital Expenditures from NCPs

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

(38,729) (53,777) (2,997) (18,027) (79,067)

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

(18,034) (55,881) (1,100) (8,292) (177,154)

(24,983) (100,683)

(25,612) (91,244)

(28,804) (133,259)

(30,095) (87,953)

(4,180) (3,366)

(200)

(2,200) (6,609)

(200)

Use of Internal Borrowing

(3,603)

(4,926)

Operating Reserves & Surplus Expenditures

(157,481)

(143,657)

(139,500)

(125,977)

(273,237) $

(192,597) $

(273,769) $

(260,461) $

(290,693) $

(264,316) $

(310,372) $

(249,151) $

Net Increase(Decrease) to Reserve

$

11,316

107,606 $

$

7,993

$

(654)

$

15,331

$

22,281

$

31,455

$

35,340

Ending Reserve Balance

553,652 $

661,258 $

561,645 $

660,604 $

675,935 $

698,216 $

729,671 $

765,011 $

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

(317,189) (19,213)

(318,623) (19,213)

(320,249) (19,213)

(321,785) (19,213)

(308,492)

(314,510) (19,213)

(312,071)

(315,797) (19,213)

(4,841)

9,204 5,805

5,748

3,710

3,747

3,784

3,822

3,860

3,899

Innovation Boulevard

(9)

5

-

-

-

-

-

-

Inventory

874

988

883

998

1,008 5,460

1,018 5,515

1,028 5,570

1,038 5,626

Prepaid Expenses

4,577

5,352

4,623

5,406

Equity in Tangible Capital Assets

9,088,342

9,274,747

9,128,405

9,353,970

9,413,609

9,463,787

9,525,085

9,561,384

Total Accumulated Surplus

9,339,851 $

9,612,337 $

9,398,494 $

9,689,715 $

9,763,394 $

9,834,522 $

9,925,752 $

9,995,960 $

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

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

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