2018-2022 Financial Plan

FINANCIAL PLAN OVERVIEW

Expenditures After we have adjusted for the reserve transfers, we must provide for expected cost increases. Many of these cost increases are the result of contractual commitments. When looking at this table, keep in mind that we are looking at the additional funding required over the previous year. For instance in the Fire Department, the 2018 costs are increasing by $320,000 from 2017 and are increasing by a further $410,000 in 2019.

As already mentioned, we have little discretion in funding these items as they are the result of existing contracts (labour agreements, RCMP and Fraser Valley Regional Library are some examples). After providing for the expenditure changes described on the following page, the General Revenue Surplus is $161,000.

Conceptual Overview of Expenditure Changes

Item ($ in thousands)

2018

2019

2020

2021

2022

Available after transfers

3,935

4,247

4,344

4,680

4,960

Increase in expenditures:

Labour (excluding Fire Protection)

(520)

(655)

(665)

(800)

(820)

Equipment (excluding Fire & Police)

(50)

(45)

(45)

(50)

(50)

Fire Department

(320)

(410)

(280)

(285)

(265)

Parks & Recreation Facilities Plan

(470)

(585)

(520)

(550)

(580)

Policing Contracts (RCMP, ITEAMS, ECOMM)

(500)

(725)

(615)

(765)

(510)

Contracts (SPCA, Library, Arts)

(110)

(110)

(115)

(115)

(120)

Inflation Allowance

(225)

(220)

(235)

(250)

(275)

Infrastructure Replacement

(660)

(575)

(610)

(640)

(680)

Drainage Levy Related Capital Projects

(235)

(245)

(260)

(275)

(290)

Growth Costs

(415)

(415)

(415)

(415)

(415)

Streetlights

(125)

(20)

(20)

(20)

(20)

Subsidized Ice

(200)

-

-

-

-

Arenas Contract (CPI adjustment)

-

(90)

-

-

-

Use of Accumulated Surplus (PW&D Staff Funding)

(85)

(80)

-

-

-

Available after expenditures

20

72

564

515

935

Surplus from prior year

208

161

83

590

1,055

Other Adjustments & Rounding

(66)

(151)

(57)

(50)

(59)

General Revenue Surplus

161

83

590

1,055

1,931

There are a number of contracts already in place. There is little discretion in funding these commitments.

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