City of Surrey 2017 - 2021 Financial Plan
EXECUTIVE OVERVIEW BUDGET SUMMARY
The 2017 Five Year (2017 - 2021) Financial Plan has been developed based on direction provided by Council over the course of time and builds on the adopted 2016 Five Year (2016 - 2020) Financial Plan. The following provides a summary of the 2017 Five Year Financial Plan. See the General Operating Fund, Utilities Operating Fund and Capital Program sections for detailed schedules and additional information. CONSOLIDATED - BUDGET SUMMARY (in thousands) 2016 2017 REVENUE SUMMARY BUDGET BUDGET $ % General Operating Fund Taxation 309,642 $ 328,802 $ 19,160 $ 6.2% Departmental Revenues 79,404 82,642 3,238 4.1% Other 50,591 57,137 6,546 12.9% 439,637 468,581 28,944 6.6% Utilities Operating Funds Taxation 58,635 64,066 5,431 9.3% Departmental Revenues 158,818 168,148 9,330 5.9% Other 2,299 2,305 6 0.3% 219,752 234,519 14,767 6.7% Capital Program Development Cost Charges 133,486 142,168 8,682 6.5% Other Development Charges 132,668 135,807 3,139 2.4% Government Transfers 41,350 41,702 352 0.9% 307,504 319,677 12,173 4.0% Other Other Entities 17,015 14,169 (2,846) -16.7% Investment Income - Reserves & Capital 2,136 1,212 (924) -43.3% Land Sales 5,000 3,000 (2,000) -40.0% 24,151 18,381 (5,770) -23.9% Budgeted Revenues 991,044 $ 1,041,158 $ 50,114 $ 5.1% CHANGE
EXPENDITURE SUMMARY General Operating Fund General Government
$
40,499 212,757 140,315
43,909 227,177 151,179
$
$
3,410
8.4% 6.8% 7.7% 0.0% 0.0% -9.8% 6.6% 14.2%
Public Safety
14,420 10,864
Other Departments
Council Initiative Fund
250
250
-
Fiscal Services
19,577
22,358
2,781
Carbon Emission Offsets
400
400
-
Contributions/Transfers to/(from)
25,839
23,308 468,581
(2,531)
439,637
28,944
Utilities Operating Funds Operating Expenditures
185,951 33,801 219,752 434,708 100,000 63,600 598,308 116,775 (46,585) (44,700) (292,143) (266,653)
192,075 42,444 234,519 425,820 100,000 44,546 570,366 122,987 (30,377) (35,772) (289,146) (232,308)
6,124 8,643
3.3%
Contributions/Transfers to/(from)
25.6% 6.7%
14,767
Capital Program Capital Expenditures Contributed Assets
(8,888)
-2.0% 0.0%
-
SCDC
(19,054) (27,942)
-30.0% -4.7%
Other
Amortization Other Entities
6,212
5.3%
16,208
-34.8% -20.0%
Internal Borrowing
8,928 2,997
Contributions/Transfers to/(from)
-1.0%
34,345 50,114
-12.9%
Budgeted Expenditures & Transfers per Bylaw
$
991,044
1,041,158 $
$
5.1%
Reconciliation to Annual Financial Statements: Tangible Capital Asset expenditures Contributions/Transfers (to)/from reserves
(598,308) 330,740 (10,429) (277,997)
(570,366) 294,032 (13,276) (289,610)
27,942
-4.7%
(36,708) (2,847) (11,613)
-11.1% 27.3%
Municipal Debt
4.2% 5.4%
Expenditures per Financial Statements
$
713,047
$
751,548
$
38,501
Excess Revenues Over Expenses per Financial Statements
$
277,997
$
289,610
$
11,613
4.2%
** Excess Revenues Over Expenses is used to fund the acquistion of tangible capital assets
2017-2021 FINANCIAL PLAN
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