Financial Annual Report 2016

SCHEDULE 11 UNAUDITED RESERVE FUNDS  CITY OF SURREY

As at December 31, 2016, [in thousands of dollars]

Equipment and Building Replacement $ 33,670

*** Municipal Land

Park Land Acquisition

*Capital Legacy

Neighborhood Concept Plans

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

$

- -

$

9,948

$ 19,486

$ 22,783

-

-

-

-

Investment income

233

12

69

134

157

Other revenue

-

324

9,931

- -

5,196

Other Contributions

345 578

14,200 14,536

-

-

10,000

134

5,353

Transfers from (to) Operating funds

(11,006)

(138)

-

(10,982)

220

Capital funds

10,929

29,714

1,261

14,964

5,268

Internal borrowing

-

(15,040)

-

-

-

(77)

14,536

1,261

3,982

5,488

Balance, end of year

$ 34,325

$

-

$ 18,687

$ 15,638

$ 22,648

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 Principal Repayable, Guildford Pool Loan

$ 46,120

(14,349) (5,219) (4,577) (4,220) (1,156)

Principal Repayable, East Clayton Fitness Facility Loan

Principal Repayable, RCMP Facility Loan

Principal Repayable, Newton Fitness Facility Loan Principal Repayable, Grandview Heights Pool Loan Principal Repayable, Other Facility, Parks and Culture Loans

$

(961)

Funds on Hand for Financing Projects

$ 15,638

** Local Improvement Financing Reserve Fund: The City borrows from this Fund to finance local improvement projects. The property owners’ share, repayable 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 $ 8,042 Receivable From Property Owners 8,101 Equity, December 31, 2016 $ 16,143

86