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Financial Planning Process
2017-2021 FINANCIAL PLAN
Reflect the goals of Corporate and
Departmental Strategic Plans.
The Departmental Strategic and Financial
Plans should include capital projects and
operating programs which are consistent
with Council-approved Strategic Plans.
Balance citizens' service expectations with
their ability and willingness to pay.
The Departmental Strategic and Financial
Plans should include capital projects and
operating programs which balance the
expectations of citizens for services with
their ability and willingness to pay for
those services.
Provide funding for ongoing maintenance
and asset replacement.
The Departmental Strategic and Financial
Plans should incorporate into the cost of
capital projects, the costs associated with
ongoing maintenance and replacement of
investments in facilities, equipment and
infrastructure.
Encourage cost-effective service delivery.
The Departmental Strategic and Financial
Plans should support capital projects and
operating programs which deliver
cost-effective services through
entrepreneurship, creativity, and
innovation.
Target total debt service charges to below
five percent of expenditures.
The Departmental Strategic and Financial
Plans should strive to keep the annual
cost of total debt servicing below five
percent of the City’s annual expenditures.
Strive to finance capital projects on a ‘pay
-as-you-go’ basis.
The Departmental Strategic and Financial
Plans should assume that capital projects
be financed without taking on debt, unless
it is required in support of an exceptional
opportunity.
Charge new development the appropriate
share of new infrastructure costs.
The Departmental Strategic and Financial
Plans should finance through
development cost charges an appropriate
proportion of the cost of new
development related to capital
infrastructure, as determined by Council
Policy.
PRINCIPLES FOR BOTH CAPITAL & OPERATING FINANCIAL PLANNING
Source: City of Surrey Report to Citizens 2016
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