City of Surrey's 2022-2026 Financial Plan

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

2020

2021

2021

2022 PLAN

2023 PLAN

2024 PLAN

2025 PLAN

2026 PLAN

ACTUAL ACTUAL BUDGET

Reserve Funds Capital legacy

$

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

$

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

$

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

$

49,317 69,894 37,959 41,618 13,600 18,104

$

49,679 54,765 30,717 46,422 13,634 18,149

$

50,020 56,992 29,322 54,138 14,418 18,194

$

50,340 59,219 26,655 59,873 14,954 18,239

$

50,640 61,447 25,826 65,643 15,241 18,285

Municipal land

Equipment and building replacement

Neighbourhood Concept Plans

Park land acquisition

4,651

4,651

Local improvement financing Environmental stewardship

17,803

17,803

6,809 2,651 1,362

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

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

6,945 3,746 1,382 2,100

6,912 4,255 1,385 3,105

6,879 4,666 1,388 4,113

6,846 5,078 1,391 5,123

6,813 5,491 1,394 6,136

Parking space Water claims

Affordable housing

591

Capital Projects

-

30,412 275,077 (126,035)

30,488 259,511 (111,648)

30,564 270,694

30,640 278,358

30,717 287,633

201,749

208,680

208,680

Internal Borrowing

(144,237)

(149,909)

(149,909)

(96,950)

(79,170)

(62,989)

Appropriated Surplus and Committed Funds Infrastructure replacement

(14,546)

(3,687) 13,490 12,825

(3,687) 13,490 12,825

19,616 13,490 12,328

34,445 13,490 11,600

47,675 13,490 10,872

64,793 13,490

83,767 13,490

Revenue stabilization

13,490 13,253

Self insurance

9,480 8,610 7,210

8,088 8,610 7,210

Operating contingency and emergencies

8,276 7,082

8,607 7,082

8,607 7,082

8,610 7,210

8,610 7,210

8,610 7,210

Environmental emergencies

General operating

82,545 17,020

172,984 25,360

172,984 25,360

202,042 30,153

191,282 27,968

178,976 25,348

166,426 23,151

153,632 20,891

Roads & traffic operating and capital Parking Operating and capital Drainage operating and capital Sewer operating and capital

370

341

341

339

688

609

549

386

8,918

10,608 15,820

10,608 15,820

11,658 15,796

13,353

12,422

12,249

12,104

18,382

9,920 4,492

2,715 4,059

1,803 3,525

1,593 2,893

Surrey City Energy

3,762

3,168

3,168

4,817

Water operating and capital

29,096 187,648

21,379 287,977

21,379 287,977

23,506 349,565

17,181 340,239

10,538 322,524

10,386 321,672

10,252 322,916

Other Deferred Development Cost Charges

308,492 308,492

314,510 314,510

314,510 314,510

371,704 371,704

373,003 373,003

374,369 374,369

375,690 375,690

377,172 377,172

Opening Reserve Balance

553,652 $

661,258 $

661,258 $

$

870,311

861,105 $

870,637 $

896,550 $

924,732 $

Increases to Reserves Investment Income

5,414

1,730

2,029

1,820

1,751

1,738

1,757

1,774

Operating Reserves & Surplus Contributions

214,636 60,349

297,374 101,341 11,163

184,129 56,100

196,257 78,200

160,430 90,100

170,629 90,400

166,239 83,500

155,216 92,400

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

5,910 1,539

1,100 2,000

7,800 2,000

7,800 2,000

7,800 2,000

7,800 2,000

7,800 2,000

Asset Proceeds

1,539

Repayment of Internal Borrowing

12,355

25,083

14,449

14,387 300,464

14,698 276,779

17,780 290,347

16,181 277,477

16,221 275,411

300,203 $

438,230 $

259,807 $

$

$

$

$

$

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

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

(45,002) (43,397)

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

(93,418) (77,833) (3,100)

(35,503) (89,666)

(37,021) (90,016) (2,200)

(36,427) (82,958) (2,180)

(39,747) (91,853)

(878)

(200)

(200)

Use of Internal Borrowing

(1,209)

-

-

-

-

-

Operating Reserves & Surplus Expenditures

(138,691)

(135,319) (309,670)

(141,878) (267,247)

(135,197) (264,434)

(127,730) (249,295)

(116,608) (248,408)

(192,597) $

(229,177) $

(260,461) $

$ $

$ $

$ $

$ $

$ $

Net Increase(Decrease) to Reserve

107,606 $

209,053 $

$

(654)

(9,206)

9,532

25,913

28,182

27,003

Ending Reserve Balance

661,258 $

870,311 $

660,604 $

$

861,105

870,637 $

896,550 $

924,732 $

951,735 $

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

(314,510) (19,213)

(371,704) (15,252)

(315,797) (19,213)

(373,003) (15,252)

(374,369) (15,252)

(375,690) (15,252)

(377,172) (15,252)

(378,661) (15,252)

3,710

3,161

3,747

3,193

3,225

3,257

3,290

3,323

Innovation Boulevard

5

-

-

-

-

-

-

-

Inventory

988

1,195 6,776

998

1,207 6,844

1,219 6,912

1,231 6,981

1,243 7,051

1,255 7,122

Prepaid Expenses

5,352

5,406

Equity in Tangible Capital Assets

9,274,747

9,423,366

9,353,970

9,502,589

9,562,228

9,612,406

9,673,704

9,710,003

Total Accumulated Surplus

9,612,337 $

9,917,853 $

9,689,715 $

9,986,683 $

10,054,600 $

10,129,483 $

10,217,596 $

10,279,525 $

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 | 2022—2026 Financial Plan | Financial Overview

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