2016-2020_Financial_Plan

Major Revenue Sources

2016-2020 FINANCIAL PLAN

DEPARTMENTAL REVENUES

Examples of departmental revenues include items such as:

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User fees - fees from recreation facilities, water, and solid waste removal;

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Provincial revenue - traffic fine sharing, and Surrey Public Library grants;

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Permit fees - fees from building permits, electrical permits, and road closure permits;

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Licence revenue - fees from business licenses; and

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Other fees - fees from enforcing by-laws and the sale of reports and maps.

Council approved an increase equivalent to an $88 increase in taxes on an average

single family dwelling for 2016.

RETURN ON INVESTMENT (INTEREST REVENUE)

In 2015, the City’s investment portfolio achieved a return of 2.38%.

The City’s investments are classified as follows:

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Money Market Portfolio for securities maturing within one year;

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Intermediate Portfolio for securities maturing between one and two years; and

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Bond Portfolio for securities whose maturity date is more than two years and less

than ten years.

In its purchase of investments, the City is subject to the Community Charter as well as its

own Investment Policy, approved by Council on May 6, 2013. The policy provides a

framework for the City to maximize returns with minimal risk.