2016-2020_Financial_Plan

FINANCIAL OVERVIEW

OVERVIEW OF FUND STRUCTURE

2016-2020 FINANCIAL PLAN

The 2016 - 2020 Financial Plan consolidates the results of the City’s Operating, Capital,

Reserve, and Utility Funds, as well as those of the Surrey City Development Corporation

and the Surrey Homelessness and Housing Society.

OPERATING & CAPITAL FUNDS

Operating and Capital funds include the following:

Operating funds are used to report the operating activities of the City, whereas capital

funds are used to record the acquisition of capital assets, amortization and any related

long-term debt.

RESERVE FUNDS

Under the Community Charter, City Council may use by-laws to establish Reserve Funds

for specified purposes. Money in a special Reserve Fund and the interest earned on it

may only be used for the purpose for which the Fund was established. If the amount in

a Reserve Fund is greater than required, City Council may, by by-law, transfer all or part

of the amount to another Reserve Fund. Surrey currently has the following Reserve

Funds:



Equipment and Building Replacement



Municipal Land



Parkland Acquisition



Capital Acquisition



Environmental Stewardship



Local Improvement Financing



Water Claims



Affordable Housing



Parking Space;



Development Cost Charges



Neighbourhood Concept Plan

TRUST FUNDS

Trust funds contain assets which are to be administered as directed by agreement or

statute for certain beneficiaries. Trusts administered by the City are not included in the

City’s Consolidated Budget.



General



Drainage



Parking



Roads and Traffic Safety



Sewer



Solid Waste



Surrey City Energy



Water