112-113 / 150
57
56
As at December 31, 2014, with comparative figures for 2013
[in thousands of dollars]
City of Surrey
City of Surrey
Schedule 9
Schedule 9
Reserve Funds
Equipment
and Building
Replacement
*** Municpal
Land
Park Land
Acquisition
*Capital
Legacy
Neighborhood
Concept Plans
Environmental
Stewardship
**Local
Improvement
Financing
Water
Claims
Affordable
Housing
Parking
Space
Reserves
Subtotal
****Deferred
Development
Charges
Future
Commitments
Balance, beginning of year
$ 34,836
$ (1,378)
$ 5,186
$ 23,998
$ 23,545
$ 6,558
$ 14,654
$ 1,299
$
33
$ 1,244
$ 109,975
$ 225,407
$ 150,228
DCC’s levied for the year
-
58,543
Investment income
436
21
66
301
293
82
70
16
-
16
1,301
2,256
Asset disposals
1
-
-
-
-
-
-
-
-
-
1
Other revenue
-
53
3,673
-
3,503
-
-
-
-
-
7,229
-
-
Other expenditures
86
7,267
-
-
-
-
-
-
(25)
-
7,328
523
7,341
3,739
301
3,796
82
70
16
(25)
16
15,859
60,799
-
Transfers from (to)
Operating funds
(9,112)
(3,778)
-
(1,989)
63
192
(449)
-
-
-
(15,073)
-
Capital funds
8,583
35,277
49
23,434
3,442
-
-
-
-
-
70,785
(56,611)
(39,885)
Internal borrowing
(25,536)
-
(25,536)
(25,536)
(529)
5,963
49
21,445
3,505
192
(449)
-
-
-
30,176
(82,147)
(39,885)
Balance, end of year
$ 35,888
$
-
$
8,876
$
2,854
$ 23,836
$ 6,448
$ 15,173
$ 1,315
$
8
$ 1,260
$ 95,658
$ 204,059
$ 110,343
Additional Information:
* Capital Legacy Reserve Fund (created by Bylaw in 1999):
The City borrows from this Fund to finance capital projects. Principal and interest repayment schedules are based
upon reasonable business case plans approved by City Council. The debt costs are provided for annually within
the operating budget of each capital project.
Capital Legacy Fund Prior to Borrowing
$
53,356
Principal Repayable, Art Centre - South Surrey
(7,678)
Principal Repayable, Guildford Pool Loan
(42,277)
Principal Repayable, Parking Meters Loan
(534)
Principal Repayable, East Clayton Fitness Facility Loan
(13)
Funds on Hand for Financing Projects
$
2,854
** Local Improvement Financing Reserve Fund:
The City borrows from this Fund to finance local improvement projects. The property owners’ share, repayable
with interest over 10 years, is levied against the benefiting properties. The City’s share, repayable with interest
over 10 years, is provided for annually within General Operating Fund debt costs.
Funds on Hand For Financing Projects
$
6,391
Receivable From Property Owners
8,782
Equity, December 31, 2012
$
15,173
*** Municipal Land Reserve Fund:
The City borrows from this Fund to finance specified projects. Principal and interest repayment schedules are based upon
reasonable business case plans approved by City Council.
Municipal Land Fund Prior to Borrowing
$ 15,832
Internal Borrowing from Reserves
25,536
Principal Repayable, City Centre Land Loan
(16,204)
Principal Repayable, City Centre Social Lands Loan
(3,528)
Principal Repayable, City Centre Development Loan
(2,395)
Principal Repayable, University Drive
(921)
Principal Repayable, City Parkway
(1,091)
Principal Repayable, Social Housing Loan
(1,405)
Principal Repayable, Heritage Railway Loan
(24)
Principal Repayable, Newton Athletic Park Master Plan
(820)
Principal Repayable, Bridgeview Ind. Land Loan
(54)
Principal Repayable, Green Timbers
(14,926)
Funds on Hand for Financing Projects
$
-
**** Deferred Development Charges:
The City borrowed from this Fund to resolve revolving fund shortfall. Principal and interest to be repaid.
Deferred Development Cost Charges per note 9
$ 229,595
Less: Internal borrowings
(25,536)
Funds on Hand for Financing Projects
$ 204,059