12 / 388
Message from the General Manager, Finance andTechnology
2017-2021 FINANCIAL PLAN
10.0 GENERAL CAPITAL FINANCIAL PLAN—ISSUES AND PRIORITIES
The City continues to undertake a number of large-scale capital projects to
accommodate and support anticipated business and residential growth. The City has
invested over $600 million since 2010. The 2017 - 2021 Financial Plan includes a further
$238 million investment over the next five years. The funding for these projects will be
primarily through internal borrowing. These projects include a new recreation and
cultural facility in Clayton, additional ice surfaces in Cloverdale, the replacement of the
arena in North Surrey, expansion of Unwin Park, additional space for our RCMP
members, the addition of the second phase of the Surrey Museum and a partnership
with the YMCA to deliver recreation services in the City Centre.
The City has ongoing capital requirements of over $18.0 million per year. The City must
also fund minor capital projects including improved lighting at various recreation
centres, equipment and security upgrades as well as recreation facility entrance
improvements. Additional details of planned capital projects can be found in the Capital
Program section of this document.
11.0 MEETING THE CHALLENGES OF TOMORROW
The City of Surrey is proud to be the third largest City in British Columbia by land mass,
and the second-largest City by population with just over 526,000 residents. The 2017 -
2021 Financial Plan recognizes the challenges of such a rapidly growing municipality
and how that can affect our goals of sustainability, community safety, economic
development, exemplary service provision, and sound municipal infrastructure.
Surrey incorporates “Triple Bottom Line Accounting” meaning environmental, socio-
cultural and economic factors are considered in decision-making processes.
After relocating City Hall to the City Centre core, the City continues to see significant
investment in our downtown that is creating a thriving, green and inclusive urban
centre, attracting progressive business and educational organizations.
The City is also completing construction of an Organics Biofuel facility that will process
organic waste into natural gas, fueling waste collection trucks within the City. This
Biofuel facility, expecting to become operational in 2017, will be Canada’s largest biofuel
facility and will be operated by Orgaworld Surrey limited partnership.
The Surrey City Energy continues to expand its service delivery with 4 multi-purpose
high rises and commercial buildings and will see another 6 buildings connected to the
system in 2017 and 2018.
6