Council Meeting/Documents/Town of View Royal Annual Report 2022 - Strategic Goals and Financial Highlights
Staff Report
Town of View Royal Annual Report 2022 - Strategic Goals and Financial Highlights
July 4, 2023Pages 311–3141 section
Excerpts from the 2022 Annual Report detailing strategic goals for governance and safety, alongside a summary of the Town's financial position.
Goal: Develop community engagement strategy in 2023Goal: Update Emergency Response and Recovery Plan in 2023Net financial assets increased $4.3 million to $19.9 million2022 deficit of $3.9 millionTotal reserves and surplus: $24.5 millionUnrestricted surplus: $5.8 million
Financial Plan Bylaw No. 1118, 2023
Schedule 'C'
Consolidated Reserves Plan
For the years 2023 to 2027
| Description | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|
| Transfers from reserves for operating | |||||
| Future Expenditures | - | - | - | - | - |
| Police Operating | (221,600) | (227,200) | (532,900) | (238,700) | (244,700) |
| Total Transfers from reserves for operating | (221,600) | (227,200) | (532,900) | (238,700) | (244,700) |
| Transfers from reserves for capital | |||||
| Capital Renewal | - | - | (541,250) | - | - |
| Capital Works and Land | - | (275,000) | - | - | - |
| Fire Department Equipment | (60,000) | - | - | - | - |
| Machinery and Equipment | (180,000) | (55,000) | (100,000) | - | (55,000) |
| Park Improvement | (200,000) | (55,000) | (92,500) | (50,000) | - |
| Police Capitalization | (206,720) | (19,200) | (19,200) | - | - |
| Sewer Capital | (868,500) | (98,700) | (449,500) | (380,000) | (26,700) |
| Total Transfers from reserves for capital | (1,515,220) | (502,900) | (1,202,450) | (430,000) | (81,700) |
| Transfers to reserves | |||||
| Capital Renewal | 200,000 | 210,000 | 214,000 | 218,600 | 223,000 |
| Capital Works and Land | - | 61,000 | 62,000 | 64,000 | 65,000 |
| Cash in Lieu of Parking | 500,000 | - | - | - | - |
| Community Amenity Contributions | 518,000 | 507,000 | 250,000 | 250,000 | 250,000 |
| Fire Department Equipment | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 |
| Future Expenditures | 100,000 | 104,000 | 106,000 | 108,000 | 110,400 |
| Growing Communities Fund | 4,665,000 | - | - | - | - |
| Machinery and Equipment | 63,500 | 63,500 | 63,500 | 63,500 | 63,500 |
| Park Improvement | 105,000 | 127,500 | 130,000 | 133,000 | 135,000 |
| Police Capitalization | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 |
| Police Operating | 117,000 | 217,000 | 17,000 | 17,000 | 17,000 |
| Sewer Capital | 89,500 | 91,200 | 93,000 | 94,900 | 96,800 |
| Total Transfers to reserves | 6,392,000 | 1,415,200 | 969,500 | 983,000 | 994,700 |
| Net transfers to (from) reserves | 4,655,180 | 685,100 | (765,850) | 314,300 | 668,300 |
Page 311–314
Extracted from: 2023 07 04 Council Agenda - Agenda - Pdf