2016-2020_Financial_Plan

EXECUTIVE OVERVIEW

MESSAGE FROMTHE GENERAL MANAGER,

FINANCE ANDTECHNOLOGY

2016-2020 FINANCIAL PLAN

To the Mayor and Council,

City of Surrey

I am pleased to submit the 2016 - 2020 Financial Plan for the City of Surrey.

The Community Charter requires that Council adopt a Five—Year Financial Plan each

year prior to the adoption of the annual Property Tax By-law. The 2016 – 2020 Financial

Plan reinforces the 2016 – 2020 Financial Plan Bylaws, which received final adoption on

March 7, 2016.

The goal of the Five-Year Financial Plan is to outline the financing of initiatives

associated with the City’s major plans including the Sustainability Charter, the Official

Community Plan, the Transportation Strategic Plan, the Parks, Recreation and Culture

Master Plan, and the Library Master Plan, as well as Council’s key priorities. Funding

these initiatives helps the City to meet the needs of its citizens.

1.0 OVERVIEW

The Financial Overview includes a Five-Year Consolidated Financial Plan, which includes

forecasts of all revenues and expenditures related to the City’s operating and capital

obligations over the next five years.

The document also includes detailed information about the City’s plans for upcoming

years. This supporting information provides departments with their expenditure

authority. Please note that estimates and projections have been used for the years 2017

through 2020. These projections will be updated annually prior to Council’s review and

approval of the Financial Plan for that year.

2.0 GENERAL OPERATING FINANCIAL PLAN - ISSUES AND PRIORITIES

Council has directed that the 2016 Financial Plan include the following:



A 3.9% property tax increase, applicable to all property classifications;



A fee increase in alignment with property tax increases;



Third party contract increases (maintenance, software, etc.)



Applicable salary and benefits, along with associated in-range salary

adjustments;



The full year impact of the 100 RCMP members and appropriate support staff

approved in 2015;



Addition of 16 new RCMP member positions along with the appropriate support

staff;



Operating funding for new capital buildings, such as the Grandview Heights indoor

pool and the RCMP space expansion;



Addition of 4 Community Safety Officers, an Assistant Fire Chief and 2 new public

safety positions;