Correspondence - West Shore Parks & Recreation Society 2017 Budget Cover
Letter summarizing the 2017 budget highlights, including revenue targets and operational costs.
November 18, 2016
Mayor David Screech & Council Town of View Royal 45 View Royal Avenue Victoria, BC V9B 1A6
Dear Mayor Screech and Members of Council:
Re: West Shore Parks and Recreation Society 2017 Budget
Attached please find the West Shore Parks and Recreation Society (WSPRS) proposed budget for 2017 for Council consideration and approval as recommended by the WSPRS Board of Directors.
2016 Budget Contents:
- Budget Overview
- Major Repairs & Maintenance (5 yr.)
- Reserve Account Summary
- Requisition Summary
- Converted Assessments
The full detailed budget has been provided to and discussed with your CFO.
2017 Budget Notes
- 2016 has been another busy and successful year with a projected surplus of $100,205. This is a result of both revenues and expenses lower than budget. ($133,485 and $349,855 respectively). In addition the transfer from deferred revenue for pool capital of $168,000 was not required so available for future pool maintenance.
- The 2017 Budget results in an operational municipal requisition increase of $77,745 (1.56%). Requisitions cover 45% of expenses and WSPRS’ revenues cover 55% of expenses.
- For 2017 our revenue target decreased by 3.1% over the 2016 Budget. This is the result of no Grand Slam for curling (expenses decreased accordingly). Revenue targets for the pool have decreased as a result of the new YMCA opening in Langford.
- Some of the cost increases and decreases are:
- Benefits have increased more than .3% because of increases in benefit costs for EI, CPP, WCB and MPP. This has resulted in an increase of $194,170 (2.8%) in staff costs.
- Hydro costs have decreased by 12.9% as a result of replacing 4500 florescent and metal halide lights in the buildings with LED lights.
- Fuel costs have decreased 15.8% because of the savings in natural gas from the boiler reclaim project.
- Sewer costs have decreased by 16.7%.
- CRD water cost increased by 10.6% because of increase fees charged and dry spring and summer seasons.
- Our Reserve balance is projected to be $1,941,419 in 2016 and includes $1,200,000 for the arena floor replacement, $160,000 for the Front Sign panel replacement, $100,532 for the equipment replacement fund, and $480,887 for future major repairs and maintenance expenditures.
Our Operating Maintenance and Management Agreement requires the WSPRS budget to be approved by February 28, 2017. Your WSPRS Finance Committee representatives and CFO have been briefed on the budget details in order to answer any questions your Council may have.
Yours truly,
Linda Barnes Administrator LB/am Encls.
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