City of Surrey's 2023 Annual Financial Report

STATISTICAL REVIEW

Financial Statistics (in thousands)

Source: City of Surrey Finance Department

2023

2019

2020

2021

2022

$

570,291 53,891

Contribution to/(from) capital from equity

$

557,278 (267,158)

$

391,452 $

406,740 (101,224)

$

670,134 (184,927)

Contribution to/(from) reserves

(118,966)

-

-

-

-

Transfer to/(from) appropriated surplus

-

Annual Surplus

$

289,520

$

272,486 $

305,516 $

485,207

$

624,182

$

2,271,805 (1,201,002) (308,515)

Financial Assets

$

1,163,280 (902,746) (221,777)

$

1,447,305 (1,101,386)

$

1,768,843 (1,133,876) (356,970)

$

1,916,453 (1,130,181) (333,471)

Liabilities (excluding Debt)

Debt

(214,230) 131,689

Net Financial Assets/(Debt)

$

38,757

$

$

277,997

$

452,801

$

762,288

$

587,702 (63,032) 454,282

Restricted Reserves/Appropriated Surplus

$

228,755 (144,237) 166,991 9,088,342 9,339,851

$

247,337 (149,909) 240,162 9,274,747 9,612,337

$

344,302 (126,035) 276,220 9,423,366

$

460,964 (103,160) 319,689 9,720,637 10,398,130

Internal Borrowing

Unappropriated Surplus/Committed Funds Tangible Capital Assets (net of debt)

10,043,360 11,022,312

Accumulated Surplus

$

$

$

9,917,853

$

$

DEFINITIONS Annual Surplus/(Deficit) The statement of operations reports the surplus (or deficit) from operations in the accounting period. Net Financial Assets/(Net Debt) Net debt is measured as the difference between a government's liabilities and financial assets. Net debt provides a measure of the future revenues required to pay for past transactions and events. If the government's financial assets exceed its liabilities, then the indicator is a net financial asset position, indicating that there are net financial assets on hand, which can provide financial resources to finance future operations.

Accumulated Surplus/(Deficit) Financial assets can be used to discharge liabilities or provide services, while non-fnancial assets can normally be used only for service provision to accomplish future objectives. Non-fnancial assets are added to net fnancial assets (or net fnancial debt) to calculate the accumulated surplus or defcit for the accounting period.

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