City of Surrey's 2022-2026 Financial Plan

MESSAGE FROMTHE CFO/GENERAL MANAGER, FINANCE

3.0 DRAINAGE UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Drainage Utility supports storm water management and environment protection. This utility is structured to be self-sustaining. Projected additional funding requirements are met by a corresponding increase in the drainage parcel tax. The Drainage Utility’s funding is primarily utilized for storm water management requirements; lowland drainage dyking and flood control program; contractual labour and energy cost increases; and environmental management. These funding requirements will continue to be addressed through the drainage parcel tax. For 2022, the drainage parcel tax will see an increase of $7 to $236 ($229 in 2021) for residential and agricultural properties, and an increase of $16 to $575 ($559 in 2021) for commercial and industrial properties. 4.0 PARKING UTILITY FINANCIAL PLAN—SERVICE PRIORITIES The Parking Utility provides a range of parking options and choices for residential, business and transit needs, and effectively manages the demand for on and off-street parking facilities. Revenue generated from parking rates cover part of the on-going 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 2022, the parking rates have primarily remained consistent with the 2021 rates. 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 infrastructure and maintenance needs, 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 2022 - 2026 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 69,000 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.

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

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