City of Surrey's Annual Financial Report 2020

SCHEDULE 4 UNAUDITED RESERVE FUNDS  CITY OF SURREY

As at December 31, 2020, [in thousands of dollars]

Equipment and Building Replacement

* Capital Legacy

** Municipal Land

Neighborhood Concept Plans

Park Land Acquisition

Balance, beginning of year DCC’s levied for the year

$

- - - - -

$

11,869

$

11,742

$

12,787

$

7,949

-

-

-

-

Investment income

131

285 253

311

193

Other revenue

9,355

5,910

4,321

Other Contributions/(Deductions)

-

68

-

-

-

9,486

606

6,221

4,514

Transfers (to) / from Operating funds

10,204 (16,389)

2,119

10,433

(189)

-

Capital funds

(442)

(7,686) (4,300) (1,553)

(2,808) (4,414) (7,411)

(17,271)

Internal Borrowing

6,185

-

6,535

- -

1,677

(10,736)

Balance, end of year

$

$

23,032

$

10,795

$

11,597

$

1,727

ADDITIONAL INFORMATION: * Capital Legacy Reserve Fund (created by Bylaw in 1999):

The City borrows from this Fund to finance capital projects. Principal and interest repayment schedules are based upon reasonable business case plans approved by City Council. The debt costs are provided for annually within the operating budget of each capital project. Capital Legacy Fund Prior to Borrowing $ 48,981 Internal Borrowing (to) / from other reserves 60,497 Principal Repayable, East Clayton Hub Facility Loan (36,026) **** Principal Repayable, North Surrey Arena Replacement Loan (32,912) **** Principal Repayable, Surrey Museum Expansion Loan (8,575) **** Principal Repayable, Newton Fitness Facility Loan (7,238) **** Principal Repayable, Other Facilities, Parks and Culture Loans (6,617) **** Principal Repayable, Grandview Heights Pool Loan (2,004) **** Principal Repayable, Fleetwood Recreation & Library Envelope Loan (1,766) **** Principal Repayable, Hawthorne Rotary Park Improvements Loan (2,470) **** Principal Repayable, Cloverdale Library Renovations Loan (1,850) **** Principal Repayable, Newton Commercial Land Acquisition (10,020) **** Funds on Hand for Financing Projects $ -

*** Local Improvement Financing Reserve Fund: The City borrows from this Fund to finance local improvement projects. The property owners’ share, re- payable with interest over 10 years, is levied against the benefiting properties. The City’s share, repayable with interest over 10 years, is provided for annually within General Operating Fund debt costs. Funds on Hand For Financing Projects $

8,264

Internal Borrowing (to) / from other reserves

(11,192)

Receivable From Property Owners

9,539

Equity, December 31, 2020

$

6,611

86