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Committee of the Whole/Documents/2022 – 2026 Financial Plan (Colwood Council – January 24, 2022)
Presentation

2022 – 2026 Financial Plan (Colwood Council – January 24, 2022)

February 8, 2022Pages 48–5811 sections

A presentation summarizing the West Shore Parks & Recreation 5-year financial plan, capital requests, and the impact on member municipalities.

Proposed 2022 requisition increase: 5.14%Total 2022 Capital Expenditures: $2,289,400Collective Bargaining Wage increases: $77,000 for salaries and $35,000 for auxiliary wagesInsurance Premiums increase: $35,000View Royal Converted Assessment: $362,532,896 (13.60% of total)

2022 – 2026 Financial Plan

Colwood Council – January 24, 2022

Three people smiling and showing their mud-covered hands at a beach
Three people smiling and showing their mud-covered hands at a beach
Page 48–58

Today’s presentation includes:

  • Summary of the 2021 financial projections
  • Summary of 5-Year financial plan 2022-2026
  • Summary of the 2022 capital projects
  • 2022 major expense increases
  • Requisition impact to each municipality
  • Conclusion
A large indoor municipal swimming pool with lap lanes and a diving board
A large indoor municipal swimming pool with lap lanes and a diving board
Page 48–58

2021 Projection

Close-up of an ice skate blade on the surface of an ice rink
Close-up of an ice skate blade on the surface of an ice rink
Net Operations (excluding municipal requisitions) 2021 Budget December 31, 2021 Projection $ Projection Variance to Budget % of projected actuals to budget
Operational Revenue $ (3,938,545) $ (4,323,643) $ (385,098) 110%
Operational Expenses $ 10,269,350 $ 10,098,381 $ (170,969) 98%
$ 6,330,805 $ 5,774,737 $ (556,068) 91%
Page 48–58

2021 Projection

2021 Major Variances:

  • Netflix Revenue: $130,000
  • Facility Rentals – Indoor and Field: $95,000
  • Net Pool Operations – Programs and Maintenance: $108,600
  • Licensed Care Programs: $125,000
  • Arts & Culture Programming: $53,450
  • Golf Course Admissions: $164,000
  • Total: $676,050

Shortfalls:

  • Weight Room Admissions: -$120,000
  • Total: -$120,000

Surplus (deficit): $556,050
Total Projected Surplus 556,064
Less: Covid Restart Funds 209,513
Projected Surplus $ 346,551
Page 48–58

5-Year Financial Plan 2022-2026

Operational Revenue

A white golf ball on a green with a flag in the blurred background
A white golf ball on a green with a flag in the blurred background
Table of projected operational revenues by department from 2022 to 2026
Table of projected operational revenues by department from 2022 to 2026
2022 2023 2024 2025 2026
COVID RESTART GRANT 209,513 - - - -
OPERATIONAL REVENUES
Finance 94,384 97,216 99,646 102,137 104,690
Food & Beverage 288,389 299,925 307,423 315,108 322,986
Maintenance 170,999 176,129 180,533 185,046 189,672
Marketing 18,000 18,540 19,004 19,479 19,966
Parks 55,343 57,003 58,428 59,889 61,386
Programs 5,505,772 5,781,060 5,954,492 6,133,127 6,286,455
Reception 30,003 30,903 31,675 32,467 33,279
TOTAL $ 6,162,889 $ 6,460,775 $ 6,651,200 $ 6,847,252 $ 7,018,434
Page 48–58

5-Year Financial Plan 2022-2026

Operational Expense

Extreme close-up of a white painted line on green synthetic sports turf
Extreme close-up of a white painted line on green synthetic sports turf
Table of projected operational expenses and reserve transfers from 2022 to 2026
Table of projected operational expenses and reserve transfers from 2022 to 2026
OPERATIONAL EXPENSES 2022 2023 2024 2025 2026
Administration 461,524 470,755 480,170 489,773 499,569
Finance 844,976 861,875 879,113 896,695 914,629
Food & Beverage 275,792 281,307 286,934 292,672 298,526
Human Resources 183,720 187,394 191,142 194,965 198,864
Maintenance 3,472,113 3,541,556 3,612,387 3,684,635 3,758,327
Marketing 28,250 28,815 29,391 29,979 30,579
Parks 1,041,056 1,061,877 1,083,115 1,104,777 1,126,873
Programs 4,367,841 4,451,085 4,346,107 4,396,479 4,447,859
Reception 642,930 655,788 668,904 682,282 695,928
Transfer to Fitness Equipment Reserve 80,000 80,000 80,000 80,000 80,000
Transfer to Electronic Sign Reserve 10,000 10,000 10,200 10,000 10,000
Transfer to IT Reserve 15,000 15,000 15,300 15,000 15,000
Transfer to Turf Replacement Reserve 30,000 30,000 30,600 30,000 30,000
Transfer to Bus Reserve 20,000 20,000 20,400 20,000 20,000
Transfer to General Capital 438,581 498,581 794,028 914,117 1,006,285
TOTAL $ 11,911,783 $ 12,194,034 $ 12,527,790 $ 12,841,374 $ 13,132,438
Page 48–58

5-Year Financial Plan 2022-2026

Requisitions

Close-up of the blade of an ice skate resting on ice
Close-up of the blade of an ice skate resting on ice
Table showing projected municipal requisitions for member municipalities from 2022 to 2026
Table showing projected municipal requisitions for member municipalities from 2022 to 2026
West Shore Parks & Recreation Society 2022-2026 Five Year Financial Plan 2022 2023 2024 2025 2026
REQUISITIONS
Colwood 1,191,599 1,233,305 1,264,138 1,289,420 1,315,209
Highlands 193,573 200,348 205,356 209,463 213,653
Langford 2,985,575 3,090,070 3,167,322 3,230,668 3,295,282
Metchosin 415,127 429,657 440,398 449,206 458,190
View Royal 753,507 779,879 799,376 815,364 831,671
TOTAL $ 5,539,381 $ 5,733,259 $ 5,876,591 $ 5,994,122 $ 6,114,005
REQUISITION % INCREASE 5.14% 3.50% 2.50% 2.0% 2.0%
Page 48–58

2022 Operational Expenses

Non-discretionary increase in expenses

  • Collective Bargaining Wage increases, $77,000 for salaries and $35,000 for auxiliary wages
  • Hydro increases, $21,000
  • Parks water, $19,000
  • Insurance Premiums, $35,000
  • Garbage $4,500
  • Sewer $4,200
  • Total $195,700 in non-discretionary expenses or a 4.01% increase to operating expenses
Page 48–58

2022 Capital Requests

Comprehensive list of 2022 Capital Requests and a secondary table for Capital Funding sources
Comprehensive list of 2022 Capital Requests and a secondary table for Capital Funding sources
Item Amount
FITNESS EQUIPMENT
Treadmills 20,000
VEHICLE REPLACEMENT
Maintenance 100,000
Parks 97,000
MAJOR SITE MAINTENANCE
Pool Main Filter - Capital 90,000
Q Centre Floor Lighting 60,000
Field Drainage 5,000
Playground-upper chips 8,000
Lacrosse Box Score clock 14,000
Q Centre Water Tanks 7,500
Fitness/ Changeroom Roof 200,000
Pool tots pump 10,000
Pool office AHU 15,000
Pool filter pump 10,000
Pool Doors 20,000
DDC upgrade copper cube 20,000
Fieldhouse hot water tank 7,000
Fieldhouse backflow preventer 10,000
Lower park electrical switch 70,000
MAJOR PARKS MAINTENANCE
Roadway Repair 45,000
JDF Lacrosse Box Boards 4,000
Golf Course & Lawn Bowls 107,000
NEW INITIATIVES
Skate Park 1,279,900
Server Storage 35,000
Recreation Masterplan 50,000
Backup Host 5,000
TOTAL CAPITAL EXPENDITURES $ 2,289,400

CAPITAL FUNDING

Source Amount
Fitness Equipment Reserve 20,000
Grant, Community and Member Contributions 1,279,900
Capital Reserve 989,500
TOTAL FUNDING $ 2,289,400
Page 48–58

2022 Requisitions

Table summarizing the 2022 Requisition budget components and their increase over the 2021 budget
Table summarizing the 2022 Requisition budget components and their increase over the 2021 budget
2021 Budget (3.9% Increase) 2022 Budget (5.1% Increase) Increase % Increase
Operating -4,876,429 -4,945,800 -69,370 1.42%
Capital Contribution -392,206 -533,581 -141,375 2.68%
Additional Capital Contribution -60,000 -60,000 1.14%
Total Requisition -5,268,635 -5,539,381 -270,745 5.14%

5.14% increase proposed for 2022

  • 1.42% or $69,370 for operating
  • 2.26% or $141,375 for major repairs and maintenance (capital)
  • 1.14% or $60,000 additional capital reserve contribution as requested by owners
  • -4.00% or -$209,513 Restart funds requested as carry-forward from 2021
Page 48–58

Converted Assessments

Table comparing 2021 and 2020 Converted Assessments across five member municipalities
Table comparing 2021 and 2020 Converted Assessments across five member municipalities
2021 GENERAL PURPOSE 2021 EXEMPT 2021 TOTAL 2021 % 2020 TOTAL 2020 % % CHANGE
City of Colwood $ 517,095,605 $ 56,215,695 $ 573,311,300 21.51% $ 528,656,626 21.25% 8.45%
District of Highlands 92,852,540 280,595 93,133,135 3.49% 83,564,366 3.36% 11.45%
City of Langford 1,428,716,935 7,725,809 1,436,442,744 53.90% 1,334,835,655 53.66% 7.61%
District of Metchosin 156,115,456 43,613,817 199,729,273 7.49% 179,706,813 7.22% 11.14%
Town of View Royal 361,744,368 788,528 362,532,896 13.60% 360,735,206 14.50% 0.50%
TOTAL $ 2,556,524,904 $ 108,624,444 $ 2,665,149,348 100.00% $ 2,487,498,666 100.00% 7.14%
Page 48–58

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Extracted from: 2022 02 08 Committee of the Whole Agenda - Agenda - Pdf