City of Surrey's 2022-2026 Financial Plan

MESSAGE FROMTHE CFO/GENERAL MANAGER, FINANCE

investments as part of the 2022-2026 Capital Financial Plan. With Surrey growing at an unprecedented rate, the City has prioritized new capital infrastructure projects that will ensure the recreational, cultural and transportation infrastructure needs of its citizens will keep pace with the City’s growth. 2.0 GENERAL OPERATING FINANCIAL PLAN—SERVICE PRIORITIES General Operating supports most of the City’s service delivery needs through its various operating departments and services. Projected funding requirements are met by a combination of corresponding increases in general property tax, service delivery fees and other revenue sources in relation to service delivery levels. Furthermore, staff continuously explore opportunities that can leverage new found efficiencies in how we deliver our services to our residents. Public Safety continues to be a key priority for Mayor and Council. The City is continuing to work with the Surrey Policing Transition Trilateral Committee (“SPTTC”) on transition of policing services in Surrey. Assistant Deputy Ministers from the Government of Canada and the Province of British Columbia along with the City Manager and Policing Transition General Manager from the City of Surrey make up the SPTTC. It is tasked with guiding and supporting the development, negotiation and implementation of a phased transition of policing services. The first cohort of experienced Surrey Police Service (“SPS”) officers has begun working in the community beside Surrey RCMP officers. Council has directed that the 2022 Financial Plan include the following: • An increase of property tax rate of approximately $63 for the average assessed single-family dwelling; • An increase of general fees of up to 2.9% as compared to the prior year; • Public Safety related cost increases due to costs associated with SPS as it moves to become fully operational, increased costs associated with the ratification of a collective agreement between the RCMP members and the Government of Canada, and cost increases due to the ratification of a collective agreement by Surrey Fire Fighters Association of the International Association of Fire Fighters (“IAFF”); • Other cost increases related to wage increases due to ratification of a collective agreement by CUPE 402, increased insurance premiums, IT software licensing and maintenance costs to enhance internal facing services for City staff and external facing services for our residents and businesses, debt servicing, elimination of late fees on overdue library fines, new Parks, Recreation and Culture facilities, and Permitting Timelines Guarantee Process improvements; and • Continued support for Council’s key priorities such as Cultural Grants, Social Well-being, Surrey City Energy, Sustainability and Crime Reduction. These changes will allow staff to address the City’s service priorities and meet Council’s goals.

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

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