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96
City of Surrey
As at December 31, 2015, [in thousands of dollars]
Equipment
and Building
Replacement
*** Municpal
Land
Park Land
Acquisition
*Capital
Legacy
Neighborhood
Concept Plans
Balance, beginning of year
$
35,888
$
-
$
8,876
$
2,854
$
23,836
DCC's levied for the year
Investment income
359
17
88
28
241
Other revenue
-
26
4,167
-
3,104
Other expenditures
164
5,490
-
-
-
523
5,533
4,255
28
3,345
Transfers from (to)
Operating funds
(12,667)
360
-
(20,677)
842
Capital funds
15,408
28,386
3,183
4,073
3,556
Internal borrowing
-
(23,213)
-
-
-
2,741
5,533
3,183
(16,604)
4,398
Balance, end of year
$
33,670
$
-
$
9,948
$
19,486
$
22,783
Schedule 11
UNAUDITED RESERVE FUNDS
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
$
45,530
Principal Repayable, Guildford Pool Loan
(25,105)
Principal Repayable, RCMP Facility Loan
(926)
Principal Repayable, East Clayton Fitness Facility Loan
(13)
Funds on Hand for Financing Projects
$
19,486
** 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
$
7,386
Receivable From Property Owners
8,303
Equity, December 31, 2015
$
15,689