WSPR 2024 – 2028 FINANCIAL PLAN PRESENTATION

Today’s presentation includes:

• 2023 program highlights and statistics
• 2023 financial projections and major variances
• 2024 budget considerations
• 2024 major expense increases
• 5-Year financial plan 2024-2028
• Summary of the 2024 capital projects
• 5-Year Reserve Continuity
• Requisition impact to each municipality
• Future Considerations

2023 Program Highlights:

Swimming Lessons

• 2023: 1,573 lessons to 5,411 swimmers
• 2022: 981 lessons to 3,425 swimmers

Skating Lessons

• 2023: 265 classes to 1,180 skaters
• 2022: 266 classes to 1,073 skaters

Facility Rentals

• 2023: 4,953 field hours, 3,864 ice hours, 4,242 pool hours
• 2022: 4,762 field hours, 3,551 ice hours, 4,117 pool hours

2023 Program Highlights cont.:

Rounds of Golf

• 2023: 41,671 rounds
• 2022: 35,497 rounds

Single and Visit Pass Admissions

• Fitness: 55,869 in 2023 vs. 44,276 in 2022
• Pool: 70,282 in 2023 vs. 66,516 in 2022
• Skating: 10,334 in 2023 vs. 7,753 in 2022
• Youth Nights: 96/night in 2023 vs. 85/night in 2022

Annual Memberships

• 2023: 2,611 sold – 121,906 scans
• 2022: 1,376 sold – 81,053 scans

2023 Projection

2023 Projection Major Variances

2024 Budget Considerations

• Collective agreement negotiations, currently 4% behind the region, set to increase an additional 3% in 2024.
• 10% Insurance premium increase, market rate is increasing for large insured properties.
• 5 – 10% Utility rate increases.
• Increased workload on human resources as recruitment remains a high priority.
• Continuing annual increases to capital asset reserve contributions.

2024 Major Expense Increases

• Non-discretionary - $163,182
  • Utility increases
  • Insurance premium increases

• Discretionary – $702,638
  • Wage contingency in preparation for our next round of negotiation
  • Increased transfers to capital reserves
  • New HR Specialist position that provides hiring support
• Overall, the total expense increase is $1,067,681. We increased our fees, program offerings and performance expectations by $834,024.
• A requisition increase of $232,657 or 4% to compensate the difference. The 2023 increase was 5% or $277,048.

5-Year Financial Plan 2024-2025

• 2024 revenue budget is $835,023 or 11.9% higher than 2023’s $7,019,547.
• Includes an average fee increase of 4% on programs, rentals and admissions
• 3.5% increase year over year in future years

5-Year Financial Plan 2024-2028

• 2024 expense budget is $1.07 million or 8.3% higher than 2023’s $12,835,975.
• 3.5% increase year over year in future years

2024 Capital Projects

Note: the pickleball project is subject to securing grant funding which is included in the Grant, Community and Member Contributions value under Capital Funding.

Reserve Continuity

Converted Assessments

2024 Requisition

• $232,657 or 4% increase proposed for 2024 - $286 or 0.04% increase for View Royal
• 2.33% or $135,657 for operating
• 1.67% or $97,000 for additional annual capital reserve contribution which includes the $60,000 annual increase requested by owners which began in 2021
• Requisition increases are in line with approved 5-Year plan and decreasing year over year.

2024 Estimated Taxation Impact

Reference Materials

• 2021 Canadian Census
• 2023-2027 Municipal Financial Plans

Future Outlook

• GOVERNANCE AGREEMENTS
  • Term: March 1st, 2020 – February 28th, 2025
  • Recreation and Community Services Agreement
  • Operating, Maintenance and Management Agreement
  • 2024 Strategic Priority
• Aging Aquatic Facility
  • 2024 Consultant

View Royal Overview

• Ownership 12.71%
• 1,524 or 10.88% Clients
• 490 or 11.08% Memberships
• 1,765 or 10.26% Registrations
• 17,687 or 13.20% Admissions
• 99 or 12.06% LIFE Clients
• 12.41% of all Transactions

Partnership and Engagement

Partnership

Engagement with our ownership