84 / 140
74
For the year ended December 31, 2015
[tabular amounts in thousands of dollars]
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
City of Surrey
18. SIGNIFICANT TAXPAYERS
The City is not reliant upon the revenue from any specific large property taxpayers or businesses. Tax revenues received from the
seven largest properties amount to less than three percent of the City’s annual gross taxation revenues.
19. TRUST FUNDS
These funds account for assets, which must be administered as directed by agreement or statute for certain beneficiaries. In
accordance with PSAB recommendations on financial statement presentation for local governments, trust funds are not included in
the City’s Consolidated Financial Statements. Amounts administered by the City as trust funds are as follows:
2015
2014
Assets
Cash and short term investments
$
3,321
$
3,171
Equity
Employee
Benefits
Fund
Cemetery
Perpetual
Care Fund
2015
2014
Balance, beginning of year
$
632
$
2,539
$
3,171
$
3,067
Employment insurance rebate
73
-
73
82
Contributions
-
164
164
122
Interest revenue
6
-
6
8
Benefits purchased
(15)
-
(15)
(29)
Refunded to employees
(78)
-
(78)
(79)
Balance, end of year
$
618
$
2,703
$
3,321
$
3,171
20. SURREY HOMELESSNESS AND HOUSING SOCIETY
On June 22, 2007, the City of Surrey incorporated the Surrey Homelessness and Housing Society. The purposes of the Society are to
raise funds for financing programs and projects that address homelessness in Surrey; conduct and provide financial assistance to
homelessness housing initiatives; manage the disbursements of grants for projects and programs that address homelessness in Surrey
and act to raise funds for these purposes. As the City appoints the majority of members in the Society, who then appoint the Society’s
Board, the City is considered to have control over the Society’s functions and the Society’s financial information is fully consolidated
within the City’s financial statements.