City of Surrey's 2022-2026 Financial Plan

CONSOLIDATED FINANCIAL PLAN BYLAW, 2021, NO. 20484

CITY OF SURREY

Bylaw 20484

Consolidated Financial Plan To establish years 2022 to 2026 2022 2023

2024

2025

2026

PROPOSED FUNDING SOURCES Property Tax Levy

400,582,000 $

416,751,000 $

433,559,000 $

451,033,000 $

469,199,000 $

Roads & Traffic Safety Levy Other Property Value Taxes

31,233,000

31,545,000

31,860,000

32,178,000

32,499,000

511,000

420,000

442,000

452,000

474,000

Revenues from Property Value Taxes

432,326,000

448,716,000

465,861,000

483,663,000

502,172,000

General - Capital Parcel Tax Utilities - Drainage Parcel Tax

49,266,000 42,937,000 92,203,000 524,529,000

49,756,000 44,496,000 94,252,000 542,968,000

50,251,000 46,114,000 96,365,000 562,226,000

50,750,000 47,793,000 98,543,000 582,206,000

51,255,000 49,537,000 100,792,000 602,964,000

Revenues from Parcel Taxes

Taxation Revenues

Revenues from Fees

296,470,000

321,127,000

350,467,000

385,954,000

436,692,000

Development Cost Charges Developer Contributions

129,198,000 160,208,000 16,823,000 55,541,000 55,160,000 416,930,000

144,143,000 122,575,000 17,125,000 66,923,000 56,945,000 407,711,000

148,797,000 124,842,000 17,471,000 54,881,000 58,728,000 404,719,000

137,863,000 126,090,000 17,861,000 48,884,000 59,981,000 390,679,000

149,850,000 124,378,000 18,322,000 46,697,000 61,271,000 400,518,000

Investment Income

Transfers from Other Governments

Other Revenue

Revenues from Other Sources

Borrowing Proceeds

20,600,000

-

-

-

-

1,317,412,000 $

1,358,839,000 $

1,440,174,000 $

TOTAL FUNDING SOURCES

1,258,529,000 $

1,271,806,000 $

PROPOSED EXPENDITURES Police Services

202,579,000 $

210,686,000 $

219,701,000 $

225,107,000 $

230,570,000 $

Fire Services

71,585,000 130,435,000 84,851,000 33,238,000 23,445,000 95,607,000 200,524,000 40,119,000

71,855,000 131,815,000 84,197,000 33,293,000 23,326,000 96,884,000 217,267,000 42,552,000

72,217,000 134,882,000 84,603,000 33,348,000 23,215,000 98,589,000 238,479,000 43,783,000

72,644,000 140,347,000 84,109,000 33,383,000 23,111,000 99,448,000 262,548,000 45,034,000

73,064,000 142,175,000 84,814,000 33,448,000 23,150,000 98,697,000 302,227,000 46,339,000

Parks, Recreation & Culture General Government Planning & Development Surrey Public Library Engineering Services Water, Sewer & Drainage Solid Waste Expenditures

Surrey City Energy

4,675,000 1,326,000

5,724,000 1,326,000

6,936,000 1,326,000

8,135,000 1,326,000

8,816,000 1,326,000

Operating Contingency

Total Expenditures

888,384,000

918,925,000

957,079,000

995,192,000

1,044,626,000

Fiscal Services & Debt Interest

11,232,000

10,895,000

9,555,000

9,507,000

10,722,000

Capital Expenditures - Prior Years Capital Expenditures - Contributed Capital Expenditures - Current Years

110,515,000 100,000,000 368,819,000 579,334,000

92,927,000 100,000,000 310,200,000 503,127,000

93,339,000 100,000,000 311,585,000 504,924,000

86,711,000 100,000,000 289,500,000 476,211,000

85,881,000 100,000,000 286,741,000 472,622,000

Capital Expenditures

Municipal Debt Repayment TOTAL EXPENDITURES

10,449,000

10,878,000

11,049,000

11,103,000

11,160,000

1,489,399,000 $

1,443,825,000 $

1,482,607,000 $

1,492,013,000 $

1,539,130,000 $

PROPOSED TRANSFERS BETWEEN CAPITAL AND OPERATING SOURCES Transfers To/(From) Capital Funds (123,253,000) (122,506,000)

(131,869,000)

(125,041,000)

(110,318,000)

Internal Borrowing To/(From) Reserves

14,721,000 (95,288,000)

14,996,000 (51,328,000)

18,042,000 (48,702,000)

16,398,000 (44,106,000)

16,398,000 (43,249,000)

Transfers To/(From) Reserves

Utilities Transfers To/(From) Reserves Transfers To/(From) Reserve Funds

746,000

501,000

179,000

156,000

131,000

(79,821,000)

(35,831,000)

(30,481,000)

(27,552,000)

(26,720,000)

Transfers To/(From) Capital Sources

(203,074,000) $

(158,337,000) $

(162,350,000) $

(152,593,000) $

(137,038,000) $

Transfers To/(From) Operating Sources

$

22,204,000

$

36,318,000

$

47,155,000

$

69,419,000

$

88,082,000

Unspecified Capital Budget Authority

(50,000,000)

(50,000,000)

(50,000,000)

(50,000,000)

(50,000,000)

TOTAL TRANSFERS BETWEEN SOURCES (230,870,000) $

(172,019,000) $

(165,195,000) $

(133,174,000) $

(98,956,000) $

BALANCED BUDGET

$

-

$

-

$

-

$

-

$

-

City of Surrey | 2022—2026 Financial Plan | Financial Overview

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