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FINANCIAL OVERVIEW
OVERVIEW OF FUND STRUCTURE
2017-2021 FINANCIAL PLAN
The 2017 - 2021 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; and
•
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
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