Council Meeting/Documents/Financial Plan Bylaw No. 1118, 2023 Schedule 'A' - Consolidated Financial Plan
Appendix
Financial Plan Bylaw No. 1118, 2023 Schedule 'A' - Consolidated Financial Plan
July 18, 2023Page 3411 section
Financial schedule detailing projected revenue and expenses for the Town of View Royal for the years 2023 to 2027.
2023 Total Revenue: $25,611,6192023 Taxation Revenue: $11,318,1932023 Annual Surplus: $5,013,673
Financial Plan Bylaw No. 1118, 2023
Schedule 'A'
Consolidated Financial Plan
For the years 2023 to 2027
| Category | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|
| Revenue | |||||
| Taxation | 11,318,193 | 12,521,806 | 13,926,288 | 14,865,115 | 15,430,588 |
| User fees | 3,065,159 | 3,144,306 | 3,214,219 | 3,296,467 | 3,363,735 |
| Sales of services | 918,800 | 899,150 | 933,700 | 983,800 | 997,900 |
| Government grants and transfers | 8,079,172 | 6,623,613 | 3,006,084 | 3,723,750 | 3,006,084 |
| Other revenue | 298,950 | 261,100 | 273,000 | 275,150 | 277,300 |
| Penalties and fines | 76,000 | 70,000 | 70,000 | 70,000 | 70,000 |
| Investment income | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 |
| Contributions from developers and others | 1,740,345 | 1,774,405 | 844,235 | 2,045,610 | 267,210 |
| Total Revenue | 25,611,619 | 25,409,380 | 22,382,526 | 25,374,892 | 23,527,817 |
| Expense | |||||
| General government services | 2,943,254 | 3,103,408 | 3,143,732 | 3,299,139 | 3,313,770 |
| Protective services | 5,553,701 | 5,791,324 | 6,331,126 | 6,727,502 | 7,084,680 |
| Transportation services | 3,100,153 | 3,410,945 | 3,256,076 | 3,319,159 | 3,414,895 |
| Environmental health services | 2,484,814 | 2,552,296 | 2,610,249 | 2,680,232 | 2,734,984 |
| Development services | 753,608 | 719,454 | 644,823 | 581,235 | 595,482 |
| Parks services | 972,962 | 1,032,814 | 922,697 | 994,837 | 968,732 |
| Recreation and culture services | 1,372,072 | 1,438,753 | 1,505,322 | 1,559,827 | 1,612,237 |
| Interest on debt | 217,112 | 217,112 | 820,910 | 820,910 | 784,968 |
| Amortization | 3,200,270 | 3,258,275 | 3,317,441 | 3,377,790 | 3,439,346 |
| Total Expense | 20,597,946 | 21,524,381 | 22,552,376 | 23,360,631 | 23,949,094 |
| Annual surplus (deficit) | 5,013,673 | 3,884,999 | (169,850) | 2,014,261 | (421,277) |
| Capital | |||||
| Capital expenditures (Schedule 'B') | 6,663,270 | 21,386,005 | 3,696,625 | 3,229,000 | 329,000 |
| Transfer from equity in capital assets | (3,200,270) | (3,258,275) | (3,317,441) | (3,377,790) | (3,439,346) |
| Total Capital | 3,463,000 | 18,127,730 | 379,184 | (148,790) | (3,110,346) |
| Reserves (Schedule 'C') | |||||
| Transfer from reserves for operating | (221,600) | (227,200) | (532,900) | (238,700) | (244,700) |
| Transfer from reserves for capital | (1,515,220) | (502,900) | (1,202,450) | (430,000) | (81,700) |
| Transfer to reserves | 6,392,000 | 1,415,200 | 969,500 | 983,000 | 994,700 |
| Total Reserves | 4,655,180 | 685,100 | (765,850) | 314,300 | 668,300 |
| Surplus | |||||
| Transfers from surplus for operating | (1,769,011) | (1,523,859) | (1,193,014) | (1,124,295) | (927,660) |
| Transfers from surplus for capital | (4,199,695) | (3,468,171) | (1,899,940) | (336,724) | (230,090) |
| Transfers to surplus from operating | 2,548,584 | 2,548,584 | 2,548,584 | 2,548,584 | 2,548,584 |
| Total Surplus | (3,420,122) | (2,443,446) | (544,370) | 1,087,565 | 1,390,834 |
| Debt | |||||
| Proceeds from borrowing | - | (12,800,000) | - | - | - |
| Principal payments on debt | 315,615 | 315,615 | 761,186 | 761,186 | 629,935 |
| Total Debt | 315,615 | (12,484,385) | 761,186 | 761,186 | 629,935 |
| Net capital, reserves, surplus and debt | 5,013,673 | 3,884,999 | (169,850) | 2,014,261 | (421,277) |
| Financial Plan surplus (deficit) | - | - | - | - | - |
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Extracted from: 2023 07 18 Council Agenda - Agenda - Pdf