Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Finaanciial
P
Plan
n
Cityy of
Revvelstokee
FFebruary16,2
2015
Table of Contents
TableofContents....................................................................................................................................................i
ListofFigures..........................................................................................................................................................ii
ListofTables...........................................................................................................................................................ii
TheFinancialPlanataGlance...............................................................................................................................iii
FinancialPlanHighlights........................................................................................................................................iv
EstimatedCashFlow...............................................................................................................................................v
VisionStatement....................................................................................................................................................v
MissionStatement.................................................................................................................................................vi
OfficialCommunityPlanExtract...........................................................................................................................vii
20142015CouncilObjectives...............................................................................................................................ix
Introduction...........................................................................................................................................................1
MeetingCouncilObjectives...................................................................................................................................1
ConsolidatedResults.............................................................................................................................................1
MajorAssumptions................................................................................................................................................1
ConsolidatedRevenues.........................................................................................................................................2
ConsolidatedOperatingExpenses.........................................................................................................................2
ConsolidatedCapitalExpenditures........................................................................................................................3
OpportunitiesforCostReduction.........................................................................................................................4
LongTermDebt.....................................................................................................................................................6
CapitalReserves....................................................................................................................................................6
PropertyTaxes.......................................................................................................................................................7
UtilityRates...........................................................................................................................................................9
EconomicOutlook...............................................................................................................................................10
RiskstothePlan..................................................................................................................................................10
Conclusion...........................................................................................................................................................11
List of Figures
Figure1Consolidatedrevenue...............................................................................................................................2
Figure2Consolidatedoperatingexpenses............................................................................................................3
Figure3Longtermdebt.........................................................................................................................................6
Figure4Reserves....................................................................................................................................................7
Figure5TotalReserveFundingandexpenditure...................................................................................................7
Figure6Shareofpropertytaxbyclass..................................................................................................................8
Figure7Class4taxes..............................................................................................................................................9
Figure8Taxincreaseslast3years.......................................................................................................................9
Figure9Newconstruction...................................................................................................................................10
List of Tables
Table1ConsolidatedResults..................................................................................................................................1
Table2Netconsolidatedsurplus...........................................................................................................................1
Table3Accumulatedsurpluses..............................................................................................................................1
Table4Revenuegrowth.........................................................................................................................................2
Table5Maincostdrivers.......................................................................................................................................3
Table6Capitalexpenditures..................................................................................................................................3
Table7Capitalfunding...........................................................................................................................................3
Table8ListofCapitalProjects................................................................................................................................4
Table9Snowremovalcosts....................................................................................................................................6
Table10Debttoassetratio....................................................................................................................................6
Table11Reservetargets.........................................................................................................................................7
Table12Propertytaxincreases.............................................................................................................................8
Table13Propertytaxincreasesbyclass................................................................................................................8
Table14Taxesonexamplehouses........................................................................................................................9
Table15Taxesonexamplebusinesses..................................................................................................................9
Table16Utilityrateincreases................................................................................................................................9
Table17Residentialutilityrates..........................................................................................................................10
Table18ConsolidatedFinancialPlan...................................................................................................................12
Table19ConsolidatedCapitalPlan......................................................................................................................13
Table20Generaloperatingfinancialplan............................................................................................................14
Table21Wateroperatingplan.............................................................................................................................15
Table22Seweroperatingplan.............................................................................................................................16
Table23Generaloperatingcontractedservices..................................................................................................17
Table24Generaloperatingmiscellaneousexpenses..........................................................................................18
ii
ConsolidatedExpenses
Millions
Millions
ConsolidatedRevenues
30
25
25
20
20
15
15
10
10
5
0
2015
2016
2017
2018
2019
2015
2017
2018
2019
2018
2019
2018
2019
LongTermDebt
12
Millions
Millions
ConsolidatedCapitalExpenses
2016
10
8
25
20
15
6
10
4
5
2
0
0
2015
2016
2017
2018
2019
2015
2017
CapitalReserves
ConsolidatedOperatingSurplus
2.00
Millions
Millions
2016
1.80
1.60
4.5
4.0
3.5
1.40
3.0
1.20
2.5
1.00
2.0
0.80
1.5
0.60
1.0
0.40
0.5
0.20
0.0
0.00
2015
2015
2016
2017
2018
2019
2016
2017
UtilityRateIncreases
AveragePropertyTaxIncrease
25.00%
12.00%
20.00%
10.00%
8.00%
15.00%
6.00%
Water
Sewer
10.00%
Garbage
4.00%
5.00%
2.00%
0.00%
0.00%
2015
2016
2017
2018
2019
2015
iii
2016
2017
2018
2019
1. Noproposedchangestoservicelevels.
2. WaterprojectsincludethereplacementofthewaterlineacrosstheIllecillewaet($550,000)andthe
constructionofawatersupplytoThomasBrookresidents($650,000).Thislatterprojectistobefunded
bylongtermborrowingandpaidforunderanLSAbytheThomasBrookusers.
3. ThereisnoprovisionintheplanforanycapitalworksassociatedwiththeBigEddyWaterworks.
4. Areplacementarenaroofisincludedintheplanat$7milliontobefundedbylongtermborrowing.
5. Thefollowingprojectshavebeenexcludedfromthefinancialplan:
2015VictoriaRoadresurfacingWrighttoKootenay
$353,000
2015AirportWayresurfacingNicholtoSchiel
$219,000
20157thStreettoCommunityCentrepathwayimprovements
$100,000
2016NicholRoadresurfacingHaytoCamozzi
$370,000
6. The20142018FinancialPlanforecastthatpropertytaxrevenuefromnewconstructionwouldgrowby
3%in2015orabout$265,000.Infact,BCAAsnumbersreleasedinNovember2014indicateareduction
intaxationofabout$14,000.Asaresult,in2015,weareanticipatingabout$279,000lessinrevenue
thanoriginallyprojected.
7. In2015,theBuildingReserveFundborrows$800,000fromtheLandSalereserveFundtohelpfundthe
renovationsatCityHall.Thesefundsarerepaidoverthefollowing4yearswithinterest.
8. Thefinancialplandoesnotincludeanycapitalworksforthegolfcourse.
iv
Thisestimatedcashflowstatementhasbeenincorporatedintothefinancialplandocumenttoprovideadditionalclarity.It
Vision Statement
Revelstokewillbealeaderinachievingasustainablecommunitybybalancingenvironmental,socialand
economicvalueswithinalocal,regionalandglobalcontext.Buildingonitsrichheritageandnaturalbeauty,this
historicmountaincommunitywillpursuequalityandexcellence.
Revelstokewillbeseenasvibrant,healthy,clean,hospitable,resilientandforwardthinking.Itwillbe
committedtoexercisingitsrightswithrespecttodecisionsaffectingtheNorthColumbiaMountainRegion.
Communityprioritiesinclude:opportunitiesforyouth;economicgrowthandstability;environmental
citizenship;personalsafetyandsecurity;aresponsibleandcaringsocialsupportsystem;afirstclasseducation
system;localaccesstolifelonglearning;spiritualandculturalvalues;anddiverseformsofrecreation.All
residentsandvisitorsshallhaveaccesstotheopportunitiesaffordedbythiscommunity.
Mission Statement
Ourmissionistoprovideoptimumqualityservicesandsecuritytoourcommunityandourvisitors,inafiscally
responsiblemanner.
Wewillendeavortoprovidecooperative,wellinformedandinnovativeleadershipinordertosustainour
uniquelysuperiorqualityoflife.
WearecommittedtofosteringastrongsenseofcommunityinRevelstoke,andwewillberesponsiveand
adaptivetochangingsocial,politicalandeconomicalconditions.
doesnotmeettheregulatoryrequirementsofPSABortheprovinceforfinancialplanpresentation.PleaserefertoTable18
fortheactualconsolidatedfinancialplan.
vi
Background
TherapidgrowthofthecommunitywiththeRMRdevelopment createschallengesfor
balancingCityrevenues,costsandinvestments.
Cityoperatingrevenuesaresourcedfrompropertytaxes,andfeesforvariousservices,thegrantin
lieuoftaxesfromBCHydrofortheRevelstokedam,costsharingarrangements forparticularservices
withtheColumbaShuswapRegionalDistrict(e.g.fireprotection)andprovincialtransfers.Othercost
sharingarrangements withtheColumbiaShuswapRegionalDistrictincludeormayincludethe
airport,cemetery,orparksandrecreation.
Projectedoperatingcostscurrentlyexceedtheserevenues,promptingtheneedforcareful
consideration ofservicelevelstoavoidunacceptable taxincreases.
Substantialcapitalinvestmentsarenecessaryforroads,buildings,equipment,water,andsewer
enhancements tomeettheneedsofthegrowingcommunity.Theseinvestmentsarefundedthrough
generalrevenues,reserves,borrowing,development costcharges,grants,and,fortourism
infrastructure, resortmunicipality hoteltaxrevenues.Whiledevelopment costchargesaredesigned
tofundinfrastructurefornewdevelopment overthelongterm,intheshorttermtheCitymayhave
tofinancecommunityinfrastructureimprovements, oftenwithoutcertaintyaboutwhen
developments, anddevelopment costchargeswillberealized.
TheCitypreparesafiveyearfinancialplanwhichisupdatedannually.Therecentglobaleconomic
recessionhassloweddevelopmentplansinthecommunity.Thishasfurtherexacerbatedthe
challengeofmanagingmunicipalfinancestoanticipatetheneedsoffuturegrowthwhenthetiming
ofsuchgrowthisuncertain.
CommunityGoals
Appropriately balancerevenuelimitationswithexpendituresandinvestmentstomeet
communityneedsoverthelongterm.
Maintaineffectivemanagement,efficienciesandaccountability oftheCitysfiscalbudgetsand
operations.
Policies
Includelifecycleanalysisofmajormunicipalcapitalpurchasesrecognizingthatmaintenance
andoperationsareasignificantcomponentofmunicipalexpenditures.
Identifyandplanfortheefficientallocationoftraditionalandnontraditionalfunding
sources.
vii
Continuetopursueseniorgovernmentfundingopportunities(i.e.additionalHotelTax,
GasTax,andinfrastructure orothergrantfunding).
ManageandacquireCityownedlandsconsistentwithaLandAcquisitionStrategy.
Developpartnershipsandshareresourcesandfundingwithprivate,publicandnon
profitorganizations, cooperatively pursuingresourcesandfunding.
DevelopacostrecoveryanalysisandfeestructureforallCityfeeforservicefunctions.
Considerdevelopment taxincentivesandfeesthatpromotecommunityamenities
suchasaffordablehousing,aginginplace,parksandrecreation,greenspaceand
publicsafety.
WorkwiththeProvincialassessmentauthorityandothermunicipalpartnersto
balancepropertytaxationandachieveamoreequitabletaxationsystem.
DevelopariskevaluationinconjunctionwiththeCity'sinsuranceprovider.
Assessandevaluateunfundedmandatesfromseniorlevelsofgovernment.
Exploretaxincrementfinancingordeferredtaxationfundingthatenhancesheritage
properties,andeconomicdevelopment.
EnsureCityfinancialpoliciesandpracticesareconsistentwiththeOfficialCommunity
Plan.
Appreciatetheimportanceofvolunteerisminfulfillingcommunityprioritiesand
supplementing Cityresources.
viii
1.SafeguardInfrastructurethrougheffectivelongtermstrategies
TheCityofRevelstokewillprotectthecontinuanceofhealthyinfrastructureforcurrentandfuturegenerations.
Refinementofassetmanagementplanstoensureconsistencywithfiscalpoliciestoprotectappropriate
replacementofourinfrastructure.
Establishmeasuresreflectedinthe20142018financialplanthatsequentiallyreducestheCitysdebtto
assetratio.
Implementstrategiestoincreasereserves
Explorethemeritsofaboundaryextensiontoensuredevelopmentopportunitiesarealignedwiththe
greaterRevelstokeinfrastructureandservicecapacityandarecongruentwiththeRevelstokeMountain
MasterPlanAgreement.
2.DeterminationofCoreandnonCoreservicelevels
Weighingthediverseexpectationsandneedsofallresidents,businesses,andvisitors,theCityofRevelstokewill
establishservicelevelsforbothcoreandnoncoreactivitiesandprogramsthatareinharmonywithfiscal
prioritiesandlimitations.
ReviewandadoptionofDCCbylawthatreflectuponandbalancesthecommunitiesoverall
expectations.
Reviewallnoncoreservicesutilizingobjectivecommunityfeedbackastotheextentandlimitationsof
providingnonessentialcityservices.
Establishservicelevelsforcoreservicessuchasroads,parks,snowremoval,recreation,fireprotection
andpoliceservicesthatareinlinewithpublicexpectationsandfiscallimitations.
3.ImprovetheRevelstokeExperience
OptimizingtheuseoftraditionalandmodernmethodsofcommunicationwiththepublictheCityofRevelstoke
willimprovetheinteractionandexchangeofideaswithitscitizensandvisitors.
Providebettercustomerserviceandefficiencythroughtherealignmentofdepartmentalandoverall
corporatecommunications.
Changefromreactiveinformationtoproactiveengagement.
Changeconsistentbrandingofcorporatecommunications.
Conductsecondannualcommunitysatisfactionsurvey.
ix
Introduction
Thefinancialplanstartswithaconsolidated
summary(Table18page12)withfollowing
subsidiaryscheduleswhichprovidefurther,
progressivedetailsupportingtheconsolidated
plan.
Expenses
21.94
21.75
1.66
$millions
Net
surplus/
deficit
Accumulated
surplus
1.42
2.18
3.41
4.04
2015
0.06
1.01
0.78
0.66
0.78
2019
1.01
1.79
Table2Netconsolidatedsurplus
Councilhassetanumberofobjectivesfor2014
2015,someofwhichwillhaveadirectimpact
onthefinancialplan.Themostnotableofthese
are:
Theaccumulatedconsolidatedsurpluscanbe
attributedtoeachofthethreeoperatingareas
asfollows:
Theinclusionof$25,000in2015for
furtherdepartmentalreviews2.
Boundaryextensionstudy
CityHallimprovementstoenhance
customerservice.
Theacquisitionofassetmanagement
softwareisincludedintheplanaspart
oftheongoingstrategytocollect
meaningfuldatatosupporta
comprehensiveinfrastructure
replacementprogramme.
$millions
General
Water
Sewer
Total
2015
0.46
0.34
0.21
1.01
2016
0.47
0.15
0.16
0.78
2017
0.43
0.06
0.17
0.66
2018
0.48
0.09
0.22
0.78
2019
1.56
0.13
0.10
1.79
Table3Accumulatedsurpluses
Major Assumptions
Theconsolidatedresultsarebasedonthe
followingassumptions:
Consolidated Results
Forthe20152019periodtheprojected
consolidatedresultsareasfollows:
TheFireDepartmentreviewwascompletedin
2013.
2019
26.88
ThesurplusshowninTable1aboveisthe
consolidatedoperatingsurplusbefore
accountingforcapitaloutofrevenue,debt
principalrepayments,transfersfromequityin
capitalassets(tocoveramortization)and
transferstoreserves.Afteraccountingforthese
itemsthenetsurplus/deficitbecomes:
Table1ConsolidatedResults
Readersshouldnotethatsomecolumnsmay
notaddduetorounding.
2015
23.36
Surplus
Theconsolidatedfinancialplanshowsthe
operatingexpensesforalldepartments,
includingwaterandsewer.Italsoshowsallthe
operatingexpensesbytype.Thisprovidesthe
readerwithnotonlyanindicationofthe
proposedexpendituresperdepartmentbutalso
howthoseexpendituresareallocatedbetween
thevariouscosttypes.
$millions
Revenue
Servicelevelswillremainconsistent
withlastyear.In2014someareaswere
targetedforstrategicreductionsin
servicelevelstoreducecostsandtest
consumerreactionstothosereduced
levelsofservice.Basedonthefeedback
wehavereceivedsomeofthoseareas
maybeadjusted.
CPIwillcontinuegenerallyinthe2%
range3.
Propertytaxeswillincreaseatan
averageof1.69%in2015.4
Propertytaxgrowthfromnew
constructionwillaverage3%ayear
commencing20165.
Feesandchargesrateswillincrease
approximatelyinlinewithCPI.
Utilityrateswillincreasegenerallyata
higherratethanCPItomeet
operationalandcapitalrequirements.
2015ConsolidatedRevenue
Taxation(inc.PILTS,
GILTS&1%utilitytax)
10%
Services
5%
2%
4%
Ownsources
Unconditionaltransfers
55%
23%
Conditionaltransfers
NonTCAfunding
Other
Figure1Consolidatedrevenue
Revenuegrowthisattributabletothemain
categoriesasfollows:
Consolidated Revenues
Thetotalconsolidatedrevenuein2015is
expectedtoincreasebyabout2.8%over2014
(includingnonTCAfunding).IfnonTCAfunding
isexcludedfromthecalculationtheincrease
becomes1.2%.Whenhoteltaxandinternal
equipmentearningsareremovedtheincrease
becomes0.9%.
$
2014
2015
Taxation&
grants
12,747,669 12,949,747
Services
5,120,335 5,312,891
Ownsources6
1,006,800
895,800
Unconditional
transfers
600,000
600,000
Conditional
transfers
1,151,500 1,121,500
NonTCA
1,922,600 2,299,700
Other
184,782
184,782
Total
22,733,685 23,364,420
CPIisnotthebestindicatoroffuturecostincreases
formunicipalitiesbecauseitisnotrepresentativeof
thetypesofgoodsandservicesnormallypurchased
bylocalgovernments.Sincemunicipalitiescostsare
morelikelytoinvolveconstruction,road
maintenanceetc.thesecostsaremorealignedwith
thepriceofoilandtheconstructioncostindex
(ENR).TheCityofSt.Albert,AB,hasforecastthatits
MPIfor2013willbe3.5%andinthelast3yearsit
hasbeenbetween3.1%and3.7%.
(www.stalberttaxpayers.org/index.org/index_htm_fil
es/03_AR_MPI.pdf)
4
InaccordancewithBill55theClass2(Utilityrate)is
setat2.77timestheClass6(Business)rate.
Therefore,thepropertytaxincreaseforClass2may
notequaltheaverage.Also,in2012,Council
reducedtheClass4(MajorIndustry)ratetoequate
totheClass5(LightIndustry)rate.Ifthesame
approachisadoptedin2015,therateincreasefor
Class4maynotequaltheaverage.
5
Growthcontinuestofallandisestimatedat0%in
2015.
%Inc.
1.6%
3.8%
11.0%
0.0%
2.6%
19.6%
0.0%
2.8%
1.2%
Table4Revenuegrowth
Licences/permitfees,fines,rentalrevenue,return
oninvestments,penaltiesandinterest,saleoffixed
assets.
1%
%Inc.
1.6%
Thecityscapitalworksprogramme
incorporatesavarietyofdifferentprojectsfrom
roadreconstructiontovehiclereplacement,to
majorrepairsandothernonreoccurringasset
maintenanceitems.CityPolicyF10(Capital
Asset)setstheparametersforcapitalizationof
assets(TCAs)andthosethatmustbeexpensed
intheyearofacquisition(nonTCAs).TCAsare
amortizedovertheirusefullivesand,again,
PolicyF10setstheapplicableamortizationrate
accordingtothecategoryofasset.
3.4%
0.5%
8.2%
0.0%
0.3%
24.3%
4.1%
1.8%
Table5Maincostdrivers
By2019consolidatedexpensesareforecastto
riseby3.20%.IfnonTCAsareexcludedthe
increasebecomes7.90%overthe5yearperiod
and8.72%whenfurtherexcludinghoteltax
expendituresandinternalequipmentcharges.A
moredetailedanalysisofthevariouscost
driverscanbefoundonpages1218.
Insummary,TCAexpendituresareexpectedto
beasfollows:
$000s
General
Water
Sewer
Total
33%
2019
1,588
1,705
4,259
7,552
andfundingfortheseexpendituresis
anticipatedtocomefromthefollowingsources:
Employment
13%
5%
2016
2017
2018
1,862 9,545 2,097
1,340
901 1,212
930
425 3,190
4,132 10,871 6,499
Table6Capitalexpenditures
2015ConsolidatedExpenses
8%
2015
2,410
941
350
3,701
Contracted
services
Miscellaneous
$000s
Reserves
Grants
Debt
DCCs
Revenue
Total
Otheroperating
Amortization
19%
14%
Interest
8%
NonTCA's
2015
2,480
801
0
90
331
3,701
2016 2017
2018
2,276 2,202 2,028
100
195 1,543
970 7,000 1,267
540
400
0
246 1,075 1,661
4,132 10,871 6,499
2019
2,118
2,898
1,236
0
1,300
7,552
Table7Capitalfunding
Someofthecapitalprojectsbeingconsidered
overthenextfiveyearsinclude8:
Figure2Consolidatedoperatingexpenses
Generaloperatingexpensesonlyareforecastto
increaseby3.02%in2015and3.48%by2019.
ExcludingnonTCAsthesenumbersbecome
1.76%and8.19%respectively.Inrealterms,
overallspendingisforecasttoremainconstant.
Includesinternalequipmentchargesoffsetby
equivalentinternalequipmentearnings.
Thelistisillustrativeonlyanddoesnotcontainall
thecapitalprojectsinthe20152019financialplan.
Year
1,735,000
20152018
500,000
225,000
7,000,000
2016
2017
2017
130,000
2015
50,000
20152016
17,000
2015
1,009,000
20162019
300,000
20152019
650,000
2016
550,000
2015
1,200,000
2019
4,500,000
20152019
1,000,000
20152018
eliminateagingandcostlytomaintain
equipment.PublicWorksreportsthatin2007
theaverageageofitsfleetwas13.64yearsand
thatin2014itwas7.65years(201310years).
Table8ListofCapitalProjects
Roadreconstructionisestimatedtobe$2
millionoverthenextfiveyears.Amortizationof
roadsandbridgesamountstoabout$500,000a
year.Sothecityisinvestinginitstransportation
infrastructureatalowerratethanthatatwhich
itisbeingconsumed.Clearly,thisapproachis
addingtotheinfrastructuredeficit.Several
pavingprojectshavebeenexcludedfromthe
planasnotedintheFinancialPlanHighlightson
Pageiv.
Inflation.
Demandsforneworimprovedservices.
Developmentgrowth.
Downloadingfromseniorgovernments.
Nevertheless,thereisalwaysopportunityfor
costreductionbutthisinevitablyrequiressome
difficultdecisionsonthepartofCouncil.
Managementstaffwillcontinuetoreviewthe
wayinwhichweprovideservicesandbring
opportunitiesforcostreductionstoCouncilfor
reviewastheyarise.
Employment Costs
Asemploymentcostsrepresentalmost40%of
allcityoperatingexpenses,itisclearthatany
substantialreductionincostswillinvolve
reductionsinthelabourforce.
Theequipmentreplacementprogramme
introducedmanyyearsagocontinuesto
Someprojectsmayberepeatedfromlastyears
financialplanastheywerenotstartedandhave
beenrebudgeted.
10
Approximately$165,000hasbeenrebudgeted
from2014.
11
FederationofCanadianMunicipalitiesTheState
ofCanadasCitiesandCommunities2012
butareessential,suchassnowremoval.Of
theseexpensesperhapsabout$1millionmight
beconsiderednoncontractualordiscretionary.
(SeeTable23page17).
Thecitybecameresponsibleforplowing
MountainRoadin2014atacostof
approximately$37,000ayear.
Miscellaneous Costs
Asubstantialportionoftheseexpenditures
(about$1.1million)areoffsetbyequivalent
revenues.Thebalanceofabout$500,000orso
relatestodiscretionaryitems.(SeeTable24
page18).
SIMEAgroupbenefitsareestimatedtoincrease
by2.2%in2015.WCBpremiumshaveincreased
by20%over2014andMSPandpension
premiumshavealsoincreased.
FullfundingfortheSocialStrategyCoordinator
isincludedineachyearoftheplan.
Sewer Costs
Seweroperatingcostsareforecasttoincrease
by12.05%in2015mostlyastheresultofhigher
internalequipmentcharges(whichshowsas
equipmentearningsrevenueinthegeneral
operatingfund)andnonTCAexpenditures.
Subcontract Costs
Theseincludecertainmandatoryexpenditures
suchastheRCMPcontract,VictimServicesand
Transitwhichmakeupthebulkofthisexpense.
Othersubcontractcostsmaynotbemandatory
Water Costs
Wateroperatingcostsareforecasttoincrease
by11.30%in2015mostlyastheresultofnon
TCAexpenditures.
12
Thisnumberdoesnotincludehourscommittedto
capitalprojects.
13
Theincreaseinhoursismainlyduetothefillingof
anengineeringpositionvacantin2014andmoving
froma1mangarbagetrucktoa2mantruck.
14
MayorandCouncilhaveforegoneincreasesover
severalyears.In2015,theirremunerationshouldbe
$118,500assuminganannual2%increase.
15
Thisincludesthemonthlystipend,weekend
standbycompensationanddisabilityinsurance.
In2015,thesnowremovalbudgetreflectsprior
actualresults:
Grosscosts
Equip.
rental
internal16
Netcost
Perkm17:
Roads18
Sidewalks
Ave.actual
last3years
1,181,322
2014
Budget
1,245,750
2015
Budget
1,280,600
296,884
884,438
5,307
2,116
405,000
840,750
5,045
2,011
475,000
805,600
expectedlifeinexcessofthedebtcontracted,
thereisavalidargumentthatperhapslong
termdebtshouldnotbeusedforthistypeof
project.Thisfinancialplancontinuesthe
strategyestablishedinthepreviousplantonot
borrowfurtherforroadreconstructionandrely
completelyoncurrentrevenuetofundsuch
works.Theplandoesanticipateborrowinglong
termforcertainwaterandsewerprojectsas
wellasanewarenaroof.
4,834
1,927
Table9Snowremovalcosts
LongTermDebt
Millions
Overthepast13yearsorsothecityhas
borrowedtohelpfundseveralmajorprojects.
TheseincludetheRCMPbuilding,thewater
filtrationplantandtheaquaticcentre.Almost
50%oftheprincipalandinterestapplicableto
theRCMPbuildingisreimbursedtothecityby
thefederalgovernmentbywayofrent,while
thecityscontributionthroughdebttothe
filtrationplantandaquaticcentreleveraged
significantgrantfunding.Wehavealso
borrowedtoaddnewinfrastructuresuchasthe
ArrowHeightswaterreservoirandtoreplace
aginginfrastructuresuchastheTCHreservoir.
However,aportionofthecitysaccumulated
longtermdebtrelatestoroadreconstruction
and,althoughtheseareassetsanddohavean
2015
2016
2017
2018
2019
General
10,055,772
9,531,037
15,983,404
15,178,606
14,350,808
Water
2,619,122
2,996,943
2,690,530
2,371,145
2,038,194
Sewer
3,501,167
3,686,248
3,535,186
4,645,082
5,675,145
Figure3Longtermdebt
Thecitysprojecteddebt(longterm)toasset
ratioisasfollowsanditcanbeseenthat
CouncilsobjectiveofreducingtheratioIsnot
beingmetatthistime:
2015
25.26%
2016
24.40%
2017
29.38%
2018
27.62%
2019
25.60%
Table10Debttoassetratio
Capital Reserves
Thecitycontinuestotryandestablishincreased
capitalreserves.Ifrelianceondebtgoing
forwardistobecurtailedthenmoreneedsto
bedonetoensurethatcashisavailabletomeet
ourcapitalexpenditureswhenneeded.
16
Cityequipmentchargedtothefunctionandalso
showingasrevenue.
17
Costsbetweenroadsandsidewalkshavebeen
apportionedona10:1basis.
18
Roadsincreasefrom150kmsto151.5kmsin2014
withtheadditionofMountainRoad.
19
Anyperiodbetween5and30years.
Thecurrentfinancialplanforecastsreserve
fundstobeatthefollowinglevelsattheendof
eachyear:
6
18
16
14
12
10
8
6
4
2
0
TotalReserveFundingandExpenditure
4.50
Millions
Millions
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
2015
2016
2017
2018
2019
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2015
2016
2017
Funding
2018
2019
Expenditure
Figure4Reserves
Figure5TotalReserveFundingandexpenditure
Attheendof2014reservefundsareestimated
tobeabout$5million.
Thefundinggapin2015needstobeeliminated
ornarrowedconsiderablyifthecityisto
maintainandbuilditsreservefundseffectively.
Thebalancesshownintheforegoingchartdo
notincludetheElectricUtilityReserveFund,or
theSnowRemovalReserveFund.TheElectric
UtilityReserveFundcontains$1millionwhichis
fullyinvestedinRevelstokeCommunityEnergy
Corporation(RCEC).TheSnowRemovalReserve
Fundisbeingfundedat$50,000peryearfrom
generaloperating.Bytheendof2019itis
anticipatedthatthisfundwillcontainabout
$396,475providedthatitdoesnotneedtobe
usedintheinterimtohelpequalize
unexpectedlyheavysnowremovalcosts.
In2013,CounciladoptedaReservesand
SurplusesPolicywhichsettargetsforminimum
andoptimallevelsforvariousreservesand
surpluses.Thefollowingtableshowshowthe
cityisperformingthusfar:
Category ofreserve
Statutory
Capital
General
Other
In2015,thereisasignificantdisparitybetween
theamountoffundinggoingintothereserves
andtheamountbeingwithdrawntomeet
expenditures:
%of
minimum
balance
56.45%
78.98%
92.60%
85.52%
%of
optimum
balance
32.26%
24.86%
49.11%
44.25%
Table11Reservetargets
Thestatutoryreservespercentageresultsare
reducedsignificantlyfromlastyear.Thisis
because$800,000hasbeenborrowedfromthe
LandSalereservetohelpfundthecityhall
renovationproject.Thefinancialplan
incorporatesarepaymentover4yearswith
interest.
Property Taxes
Propertytaxesareforecasttoincreaseon
averageacrossallclassescombinedasfollows:
2017
10.00%
2018
2.00%
2019
2.00%
2015
1
0%
Table12Propertytaxincreases
In2015,theincreasesanddecreasesforthe
individualpropertytaxclassesareasfollows20:
36%
53%
Class
1Residential
2Utility
4MajorIndustry
5LightIndustry
6Business
8Seasonal
Average
4
5
6
2%
Increase/Decrease
2.00%
1.95%21
6.99%22
2.00%
2.00%
2.00%
1.69%
3%
0% 5%
Figure6Shareofpropertytaxbyclass
Propertytaxgrowth(revenuefromnew
construction)isexpectedtocontributea
reductionof($13,638)(or0.15%)23innewtax
revenuein2015andthencontinuetogrowat
about3%ayearfortheremainderofthe
financialplan.Anamountof$0hasbeen
excludedfromthe2015taxationrevenue
budgetasahedgeagainstfuturefluctuations
causedbyongoingandpotentialassessment
appeals.Atthetimeofwritingthisreportthe
cityhad$108,071initsTaxEqualization
reserve.
Table13Propertytaxincreasesbyclass
CityPolicyF9RevenueandPropertyTaxsetsa
targetofClass1Residentialpropertytaxes
being50%oftheoveralltaxburden.In2015,
thepropertytaxpieisdividedasshowninthe
followingchart:
Whatdoesthismeanforindividualproperty
owners?Well,forhomeownersthefollowing
tableindicatestheaveragetaxincrease24
applicabletoexampleassessmentvalues25:
20
Thesenumbersarebasedoncompletedroll
assessmentvaluesandaresubjecttochangeonce
authenticatedassessmentnumbersfor2015are
known.
21
TheClass2rateisrestrictedtoamaximumof2.77
timestheClass6rate.Therefore,thispercentage
changemayalterdependingupontheactual
variationinassessmentvaluesandtaxrates.
22
ItisassumedthattheClass4ratewillbethesame
asClass5inaccordancewithCouncilsdirectionin
20122014.
23
ThisisbasedonBCAAsprovisionalnumberof
$4,263,212(net)innewconstruction(NMC)for
2015.Class1(Residential)isshowinganincreaseof
$5,103,400whileClass6(Business)isshowingan
increaseof$44,658.TherewerereductionsinClass
2andClass4.
24
Relatestomunicipaltaxesonlyanddoesnot
includeschooltaxes,CSRD,MFA,BCAA,orutilities.
25
Thesenumbersareprovisionalonlyandsubjectto
changeonceauthenticatedassessmentnumbersfor
2015areknown
Overall,propertytaxincreaseshaveaveraged
approximately2.49%ayearoverthelast3
years.Business(Class6)hasaverageda1.83%
annualincreasewhileresidential(Class1)has
averaged2.67%ascanbeseeninthechartthat
follows:
Assessment
2014
$100,000 $250,000 $500,000
2015
$100,332 $250,831 $501,662
Taxes
2014
$479
$1,198
$2,396
2015
$489
$1,222
$2,444
Increase
$10
$24
$48
Taxincreases last3years
Table14Taxesonexamplehouses
Average
Class8
ForbusinessownersfallingwithinClass6,the
resultsareasfollows:
Class6
Class5
Class4
Class2
Business
Assessment
2014
2015
Taxes
2014
2015
Increase
$100,000
$104,174
$1,921
$1,960
$38
$250,000
$260,435
$4,803
$4,899
$96
Class1
20.00% 15.00% 10.00%
$500,000
$520,871
$9,606
$9,798
$192
5.00%
0.00%
5.00%
10.00%
Class5
2.00%
15.00%
20.00%
Class6
1.00%
25.00%
Class8
2.00%
2012
Class2
8.42%
Class4
16.04%
Average
1.53%
2013
3.50%
1.68%
23.28%
3.50%
3.50%
3.50%
3.96%
2014
2.00%
7.96%
4.25%
2.00%
1.00%
2.00%
1.99%
Average
2.67%
6.02%
3.83%
2.50%
1.83%
2.50%
2.49%
Figure8Taxincreaseslast3years
Table15Taxesonexamplebusinesses
Utility Rates
Thepropertytaxincreasesshowninthe
foregoingtablesarebasedonaverageincreases
ordecreasesinassessmentvalues.
Asmentionedpreviouslyinthisreport,utility
ratesareforecasttoincreaseoverthetermof
thefinancialplan.Utilityrates(bothresidential
andcommercial)areproposedtoincreaseas
follows:
TheratioofClass6(Business)taxratetoClass1
(Residential)taxratechangesfrom4.01in2014
to3.86in2015.
26
Since2009,Class4(MajorIndustry)taxation
willhavebeenreducedfromjustover$400,000
to$267,717in2015.
Rate
Inc.
2015
2016
2017
2018
2019
Water
Sewer
Garbage
4.3%
4.3%
2.0%
3.9%
4.1%
2.0%
6.3%
3.9%
2.0%
11.8%
1.9%
2.0%
21.1%
1.9%
2.0%
Table16 Utilityrateincreases
Class4Taxes
350,000
250,000
200,000
150,000
100,000
50,000
0
2010
2011
2012
2013
2014
2015
Figure7Class4taxes
26
DownieTimberistheonlytaxpayerinthisclass.
Basedontheforegoingpercentageincreases
residentialutilityrateswillbe:
300,000
30.00%
Class1
2.50%
Water
Sewer
Garbage27
2015
$385
$245
$112
2016
$400
$255
$115
2017
$425
$265
$117
2018
$475
$270
$119
publicsectoremployers.Thisisontopofan
averageincreaseof2.9%in2013.Theserates
arestillhigherthangeneralinflationand
providestaxpayerswithmoredisposable
income.
2019
$575
$275
$122
Table17Residentialutilityrates
Aswell,sewerfrontagetaxwillincreasefrom
$1.40to$1.50in2015.Thepurposeofthe
sewerfrontagetaxistoraisefundsforcapital
purposes.Thistaxisimposedequallyonboth
residentialandnonresidentialpropertythat
frontsasewerlinetoamaximumof200feet
(minimum50feet).
Economicuncertaintyhasimpactedthecityin
recentyearsbywayoftheerraticnatureof
buildingdevelopment.Overthelast8years
newconstructionhasbeenasshowninthe
followingchart:
Millions
Economic Outlook
AtthetimeofwritingthisreporttheCanadian
economyisshowingsignsofabroadening
recoverywhiletheUSAisundergoingarobust
recovery.ThereremainsignsinEuropeaswell
asotherpartsoftheglobaleconomywhere
recoveryislesscertain.
100
50
0
AnnualinflationinCanadaaveraged2%in2014
(1%inBC).Recentweaknessinoilpriceshas
seenareductioninpricesatthepumpswhichis
positiveforconsumersandprovidesmore
disposableincomethatwillhelpthelocal
economy.However,theimpactontheoilpatch
hasbeenareductionininvestmentand
employment.Thisislikelytohaveanegative
impactonthetourismsectorinBC.Therecent
reductionininterestrateswillalsoprovide
additionaldisposableincomefortheconsumer
andthereseemstobenoindicationthathigher
interestratesareimminent.
Figure9Newconstruction
Asaresult,itisdifficulttopredictwithany
degreeofaccuracywhattheleveloffuture
activitymightbeand,therefore,thedemand
forfutureservicesalongwiththepotentialfor
futuretaxgrowth.
InAugust2014,theHayGroupreportedthat
Canadianscanexpecttheirsalariestorisein
2015byanaverageof2.6%(thesameas2014)
basedonasurveyofover400privateand
27
In2015,theresidentialrecyclingfee($20in2014)
isabolishedasthisprogrammebecomesthefull
responsibilityofMMBC.
10
Newconstruction
Thefinalresultsfor2014willnotbe
knownuntilthespringof2015.Several
revenuestreamshaveunderperformed.
Appealsagainstassessmentvalues
continuetobemadeandtheseare
oftensuccessfulresultinginlost
revenuestothecity.Thecityhaslost
about$78,000intaxationrevenuesin
2014astheresultofsuccessfulappeals
whichwillimpacttheresultforthe
year.
Theassumptionthatrevenuegrowth
fromnewconstructionwillbe3%is
probablyoveroptimisticbasedonthe
resultsfor2014and2015.
ThecurrentCUPEcollectiveagreement
expiredDecember31,2013anda
negotiatedsettlementhasyettobe
reached.
TheIAFFcollectiveagreementfor2010
2011hasbeensettled,butfirefighters
havebeenwithoutacontractsince
January1,2012.
Noneoftherecommendationsfromthe
FireDepartmentReviewhavebeen
incorporatedinthefinancialplanthus
far.Someofthemcomewithacostand
ifCouncilwishestopursueanyorallof
therecommendationsappropriate
provisionforthesecostswillhavetobe
madeintheplan.
TheongoingweaknessintheCanadian
dollarplacesupwardpressureoncosts
beyondnormalinflationforgoodsand
servicesoriginatingfromtheUSA.
areanticipatedinlateryearsinordertomeet
thecostsofcapitalprojects.
Inordertoensurethattaxandrateincreases
aremaintainedatreasonablelevelsitwillbe
necessarytocontinuetocriticallyreviewboth
capitalprojectsandservicelevels.
Conclusion
TheCitycontinuestoexperienceahigher
volumeofassessmentappealsspanning
multipleyearswhichcreatesuncertaintyin
projectingpropertytaxrevenues.Successful
appealscanhavesignificantimpactsonthe
Citysprojectedincomeanddetrimentallyaffect
anticipatedsurpluses.
Thepressuretodealwithaneverincreasing
burdenofcapitalprojectsasourinfrastructure
isconsumedplacesacutestressonourlimited
resources.Thisisparticularlyevidentinthe
waterfunctionwheresignificantrateincreases
11
ConsolidatedFinancialPlan
Budget
Revenues
Taxation(inc.PILTS,GILTS&1%utilitytax)
Saleofservices
Other&ownsources
Provincialunconditionaltransfers
Provincialconditionaltransfers
NonTCAfunding
Othercontributions&donations
TotalRevenues
Actual
Ave.Actual
3years
OperatingExpensesbytype
Employmentcosts
Travelandmeetingexpenses
Telephone
Advertising
Licencesandinsurance
Memberships&conferences
Contractedservices
Officesupplies
Utilities
Miscellaneous
Freight,courier&postage
Legal&professional
Maintenanceofbuildings&equipment
Materials&supplies
Equipmentrental(internal&external)
Grantsinaid
Vehiclemaintenance&fuel
Amortization
Interest
Subtotal
NonTCAexpenditures
Totaloperatingexpensesbytype
2014
2015
2016
2017
2018
2019
Budget
Budget
Budget
Budget
Budget
Budget
16,489,503
6,452,560
903,900
600,000
1,121,500
1,089,099
227,515
26,884,077
6,969,150
41,850
58,800
68,650
235,740
106,800
3,057,595
45,500
821,000
1,817,220
29,000
106,600
371,550
570,935
416,500
90,000
427,750
1,725,000
1,056,343
18,015,983
2,758,092
20,774,075
6,630,475
31,591
63,505
49,207
224,300
88,010
2,776,169
37,942
755,310
2,122,882
35,498
52,563
315,248
466,985
690,541
76,258
407,488
1,681,840
1,027,879
17,533,691
2,178,101
19,711,792
OperatingExpensesbyDepartment
GeneralGovernment
FireProtection
ProvincialEmergencyProgram
PlanningandDevelopment
AnimalandPestControl
PoliceandCourtHouseservices
PublicWorks
Transit
EnvironmentalHealth(GarbagecollectionandRecycling)
PublicHealthandWelfare(Cemetery)
CommunityEconomicDevelopment
RecreationandCulture
Amortizationofcapitalassets
Wateroperating
Seweroperating
Debtinterestpayments
TotaloperatingexpensesbyDepartment
1,944,075
1,618,100
92,000
819,100
128,250
1,873,595
4,234,402
339,000
427,900
166,200
1,564,600
3,186,060
1,725,000
945,100
654,350
1,056,343
20,774,075
1,652,500
1,474,226
57,751
543,555
107,431
1,797,900
4,212,302
376,307
417,404
170,672
2,000,354
2,911,008
1,681,840
599,954
680,708
1,027,879
19,711,791
Operating(Surplus)/Deficit
1,546,301
2,130,724
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
5,862,663
1,818,500
300,000
1,245,000
2,015,000
2,452,585
897,125
0
128,734
986,122
484,163
440,604
Capitaloutofrevenue
411,914
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
(Surplus)/Deficit
245,721
575,128
1,725,000
1,600,000
575,128
1,681,840
2,229,791
612,010
567,041
51,963
Table18ConsolidatedFinancialPlan
245,532
1,074,809
1,661,349
1,300,167
509,539
620,824
620,824
620,824
653,399
888,471
888,471
1,837,132 1,725,000 1,725,000 1,725,000 1,725,000 1,725,000 1,725,000
2,120,171 2,611,000 2,140,000 3,270,000 3,529,000 3,087,000 3,666,000
12
330,507
7,751,050 7,810,551
43,100
42,100
67,050
67,550
80,650
74,450
273,050
273,875
113,200
126,200
3,261,100 3,261,102
60,450
59,950
991,100
996,100
1,869,120 1,899,122
44,600
45,100
158,500
146,000
431,750
432,750
663,850
660,350
828,500
830,000
100,000
100,000
481,000
481,000
1,725,000 1,725,000
1,324,117 1,324,117
20,267,187 20,355,317
1,536,934 1,392,652
21,804,121 21,747,969
92,967
56,531
232,252
122,864
127,455 1,006,471
TANGIBLECAPITALASSETS
EXPENDITURES
2015
Expenditures:
GeneralGovernment
Fire
PEP
Planning
AnimalControl
RCMP&CourtHouse
Land
PublicWorks
Cemetery
CED
Recreation
Total
Sourcesoffunding:
Revenue
Buildingreserve
Firereserve
Equipmentreserve
Landreserve
Cemeteryreserve
RCMPreserve
Recreationreserve
Grants
Gastax
DCC's
Debt
Expenditures:
Water
Sewer
Sourcesoffunding:
Waterreserve
Grant
Gastax
DCC's
Debt
Sourcesoffunding:
Sewerreserve
Grant
DCC
Debt
TotalCapitalExpenditure
TotalSourcesofFunding:
Reserves
Grantsandother
Debt
DCC's
Revenue
2016
2017
2018
581,000
839,740
0
75,000
0
32,000
150,000
400,507
0
0
332,000
2,410,247
648,000
647,500
29,500
18,000
0
0
0
0
0
0
10,000
0
150,000
150,000
782,032 1,494,809
0
0
0
0
242,000 7,235,000
1,861,532 9,545,309
267,500
18,000
0
0
0
0
150,000
1,651,349
0
0
10,000
2,096,849
58,000
0
0
0
0
0
150,000
1,300,167
0
0
80,000
1,588,167
149,000
143,000
66,000
37,500
54,500
182,700
168,000 214,800 207,300 152,000
0
0
0
0
0
40,000
160,000
50,000
0
0
15,000
0
0
0
0
163,900
93,900
91,900
59,900
23,000
0
0
0
0
0
1,185,465 1,013,018 882,899 832,034 856,351
31,200
21,700
18,900
12,500
0
88,300
88,300
88,300
88,300
88,300
363,200
165,000 174,800 159,400
74,000
2,218,765 1,852,918 1,587,599 1,396,934 1,248,151
330,507
400,000
113,740
256,000
150,000
0
32,000
312,000
726,000
0
90,000
0
2,410,247
245,532 1,074,809
540,000
485,000
29,500
18,000
124,500
202,500
150,000
150,000
0
0
10,000
0
197,000
215,000
25,000
0
0
0
540,000
400,000
0 7,000,000
1,861,532 9,545,309
1,661,349
225,000
18,000
42,500
150,000
0
0
0
0
0
0
0
2,096,849
1,300,167
0
0
58,000
150,000
0
0
80,000
0
0
0
0
1,588,167
444,565
451,618 357,699 291,334 303,551
137,000
169,000
59,500
5,500
17,000
187,700
168,000 214,800 207,300 152,000
780,900
724,400 615,200 558,200 587,300
0
0
0
0
0
31,200
21,700
18,900
12,500
0
71,900
44,900
43,400
54,400
6,000
338,200
165,000 169,800 159,400
74,000
49,000
0
0
0
0
178,300
108,300 108,300 108,300 108,300
0
0
0
0
0
0
0
0
0
0
2,218,765 1,852,918 1,587,599 1,396,934 1,248,151
941,000
350,000
1,291,000
1,340,000
901,000
930,000
425,000
2,270,000 1,326,000
1,212,000
3,190,000
4,402,000
1,705,000
4,259,000
5,964,000
304,250
221,250
525,500
102,250
92,250
194,500
61,000
115,500
176,500
50,000
90,000
140,000
52,250
92,250
144,500
866,000
0
75,000
0
0
941,000
615,000
0
75,000
0
650,000
1,340,000
706,000
195,000
0
0
0
901,000
1,002,000
210,000
0
0
0
1,212,000
1,280,000
425,000
0
0
0
1,705,000
249,250
30,000
0
25,000
0
304,250
77,250
0
0
25,000
0
102,250
36,000
0
0
25,000
0
61,000
25,000
0
0
25,000
0
50,000
27,250
0
0
25,000
0
52,250
350,000
0
0
0
350,000
610,000
0
0
320,000
930,000
425,000
0
0
0
425,000
590,000
1,333,000
0
1,267,000
3,190,000
550,000
2,473,000
0
1,236,000
4,259,000
196,250
0
25,000
0
221,250
67,250
0
25,000
0
92,250
90,500
0
25,000
0
115,500
65,000
0
25,000
0
90,000
67,250
0
25,000
0
92,250
3,701,247
4,131,532 10,871,309
6,498,849
7,552,167
2,479,740
801,000
0
90,000
330,507
3,701,247
2,276,000
100,000
970,000
540,000
245,532
4,131,532
2,027,500
1,543,000
1,267,000
0
1,661,349
6,498,849
2,118,000
2,898,000
1,236,000
0
1,300,167
7,552,167
2,201,500
195,000
7,000,000
400,000
1,074,809
10,871,309
2019
TotalLongTermDebt
16,176,060
TotalCapitalReserves
2,964,778
2,699,679 2,957,298
3,143,543
4,025,850
DCCFund
1,748,768
1,593,789 1,576,051
1,963,528
2,356,114
Table19ConsolidatedCapitalPlan
13
NONTANGIBLECAPITALASSETS
EXPENDITURES
2015
2016
2017
2018
2019
Revenues
Taxation(inc.PILTS,GILTS&1%utilitytax)
Saleofservices
Other&ownsources
Provincialunconditionaltransfers
Provincialconditionaltransfers
NonTCAfunding
Othercontributions&donations
TotalRevenues
2013
Budget
Ave.Actual3
years
Actual
2014
2015
2016
2017
2018
Budget
Budget
Budget
Budget
Budget
15,472,243
2,553,585
903,900
600,000
1,121,500
1,105,600
60,000
21,816,828
2019
Budget
12,399,626
2,120,442
956,300
550,000
1,064,000
2,179,150
60,000
19,329,518
11,969,287
2,423,664
885,522
549,656
1,326,838
1,640,630
146,944
18,942,541
11,576,368
2,204,271
924,508
547,651
1,160,414
1,533,977
81,123
18,028,312
12,505,669
2,400,283
1,006,800
600,000
1,151,500
1,667,600
60,000
19,391,851
12,690,461
2,480,182
895,800
600,000
1,121,500
1,774,200
60,000
19,622,143
13,490,739
2,511,908
936,800
600,000
1,121,500
1,401,300
60,000
20,122,247
14,823,158
2,538,725
903,900
600,000
1,121,500
1,229,900
60,000
21,277,182
OperatingExpensesbytype
Employmentcosts
Travelandmeetingexpenses
Telephone
Advertising
Licencesandinsurance
Memberships&conferences
Contractedservices
Officesupplies
Utilities
Miscellaneous
Freight,courier&postage
Legal&professional
Maintenanceofbuildings&equipment
Materials&supplies
Equipmentrental(internal&external)
Grantsinaid
Vehiclemaintenance&fuel
Amortization
Interest
Subtotal
NonTCAexpenditures
Totaloperatingexpensesbytype
6,456,900
27,850
53,800
66,350
201,990
106,800
2,871,295
45,500
684,950
1,582,920
24,400
106,600
371,550
384,635
351,900
90,000
427,750
1,200,000
591,646
15,646,836
2,538,092
18,184,928
6,205,499
28,282
58,504
49,057
186,095
88,010
2,687,126
37,942
634,809
1,888,743
20,398
52,563
315,248
341,121
631,360
76,258
395,052
1,214,914
563,182
15,474,163
2,025,344
17,499,507
6,370,189
26,969
57,219
54,974
185,218
96,228
2,635,497
43,769
661,766
1,640,168
19,442
79,328
295,579
369,330
518,994
80,419
398,213
1,342,147
557,336
15,432,786
1,732,838
17,165,623
6,624,425
28,500
59,450
71,850
209,390
109,100
3,026,550
49,000
735,200
1,616,270
25,200
124,100
381,650
397,910
661,650
90,000
445,500
1,200,000
567,001
16,422,746
1,953,614
18,376,360
6,747,650
32,950
55,650
73,750
236,325
126,600
2,920,250
53,150
794,700
1,625,520
28,300
167,000
412,250
420,150
727,150
95,000
431,500
1,200,000
564,401
16,712,296
2,218,765
18,931,061
6,909,200
33,600
57,750
70,450
236,925
111,450
2,967,150
53,900
815,700
1,641,520
29,500
138,500
417,750
413,150
735,900
95,000
446,500
1,200,000
564,401
16,938,346
1,852,918
18,791,265
6,998,950
35,350
59,850
78,150
239,650
115,450
3,024,300
55,150
833,950
1,650,320
30,200
146,500
431,750
429,100
739,100
100,000
464,750
1,200,000
685,901
17,318,421
1,587,599
18,906,021
7,179,300 7,238,801
36,100
35,100
61,450
61,950
78,350
72,150
241,550
242,125
113,200
126,200
3,068,800 3,068,802
60,450
59,950
844,950
849,950
1,633,320 1,663,321
30,700
31,200
158,500
146,000
431,750
432,750
430,100
426,600
741,600
743,100
100,000
100,000
465,000
465,000
1,200,000 1,200,000
804,901
804,901
17,680,021 17,767,900
1,396,934 1,248,152
19,076,955 19,016,052
OperatingExpensesbyDepartment
GeneralGovernment
FireProtection
ProvincialEmergencyProgram
PlanningandDevelopment
AnimalandPestControl
PoliceandCourtHouseservices
PublicWorks
Transit
EnvironmentalHealth(GarbagecollectionandRecycling)
PublicHealthandWelfare(Cemetery)
CommunityEconomicDevelopment
RecreationandCulture
Amortizationofcapitalassets
Debtinterestpayments
TotaloperatingexpensesbyDepartment
1,944,075
1,618,100
92,000
819,100
128,250
1,873,595
4,234,402
339,000
427,900
166,200
1,564,600
3,186,060
1,200,000
591,646
18,184,928
1,652,500
1,474,226
57,751
543,555
107,431
1,797,900
4,212,302
376,307
417,404
170,672
2,000,354
2,911,008
1,214,914
563,182
17,499,506
1,690,664
1,406,395
78,704
618,779
114,790
1,685,943
4,235,941
311,530
371,695
138,080
1,638,052
2,975,567
1,342,147
557,336
17,165,623
2,075,350
1,443,525
92,000
597,100
127,050
1,948,850
4,521,674
339,000
417,650
154,950
1,679,650
3,212,560
1,200,000
567,001
18,376,360
2,037,300
1,503,250
92,000
584,200
147,550
2,124,150
4,844,625
369,000
395,500
151,150
1,580,500
3,337,435
1,200,000
564,401
18,931,061
2,022,800
1,550,250
92,000
713,200
133,050
2,079,750
4,761,428
369,000
399,000
143,900
1,584,750
3,177,735
1,200,000
564,401
18,791,265
2,017,900
1,584,300
92,000
612,950
134,050
2,110,250
4,707,309
369,000
407,750
142,400
1,588,300
3,253,910
1,200,000
685,901
18,906,021
2,024,000 2,044,801
1,639,550 1,547,753
92,000
92,000
573,200
584,200
134,550
135,300
2,121,250 2,111,850
4,694,294 4,751,362
369,000
369,000
411,750
415,250
138,300
127,850
1,590,050 1,591,050
3,284,110 3,240,735
1,200,000 1,200,000
804,901
804,901
19,076,955 19,016,052
Operating(Surplus)/Deficit
1,144,590
1,443,034
862,689
1,015,491
691,082
1,330,983
2,371,162
2,739,873 3,342,612
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
4,361,663
617,500
0
1,245,000
2,015,000
1,788,562
233,102
0
128,734
986,122
2,111,717
487,313
0
303,655
908,835
1,211,721
790,000
50,000
126,000
0
2,410,247
1,263,740
90,000
726,000
0
1,861,532
1,051,000
540,000
25,000
0
9,545,309
1,070,500
400,000
0
7,000,000
2,096,849
435,500
0
0
0
1,588,167
288,000
0
0
0
484,163
440,604
411,914
245,721
330,507
245,532
1,074,809
1,661,349
1,300,167
311,797
1,200,000
1,050,000
311,797
1,214,914
1,454,791
273,762
1,342,147
1,498,505
357,493
1,200,000
1,561,000
357,493
1,200,000
1,290,000
357,493
1,200,000
1,920,000
357,493
1,200,000
2,179,000
592,566
592,566
1,200,000 1,200,000
1,637,000 1,566,000
498,630
450,756
20,656
51,277
86,919
7,957
40,141
48,958 1,083,879
Capitaloutofrevenue
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
(Surplus)/Deficit
Table20Generaloperatingfinancialplan
14
16,161,074
2,567,591
903,900
600,000
1,121,500
944,599
60,000
22,358,664
WaterOperating
Revenues
Taxationandgrants
Saleofservices
Other&ownsources
Provincialunconditionaltransfers
Provincialconditionaltransfers
DCCfunding
NonTCAfunding
Othercontributions&donations
TotalRevenues
Aveactual
last3
years
2013
Budget
Actual
2014
Budget
2015
Budget
2016
Budget
2017
Budget
2018
Budget
2019
Budget
OperatingExpensesbytype
Employmentcosts
Travelandmeetingexpenses
Telephone
Advertising
Licencesandinsurance
Memberships&conferences
Contractedservices
Officesupplies
Utilities
Miscellaneous
Freight,courier&postage
Legal&professional
Maintenanceofbuildings&equipment
Materials&supplies
Equipmentrental(internal&external)
Grantsinaid
Vehiclemaintenance&fuel
NonTCAexpenditures
Amortization
Interest
Totaloperatingexpenses
306,000
312,000
3,500
3,500
3,600
3,600
2,000
2,000
19,250
19,250
0
0
131,000
131,000
0
0
60,600
61,100
117,500
117,500
2,500
2,500
0
0
0
0
136,500
136,500
28,500
28,500
0
0
10,000
10,000
304,250
102,250
400,000
400,000
296,048
307,098
1,821,248 1,636,798
Operating(surplus)/deficit
209,603
301,673
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
659,000
590,000
0
69,000
0
941,000 1,340,000
866,000 615,000
0
0
75,000
75,000
0 650,000
363,660
704,596 1,161,663
Capitaloutofrevenue
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
(Surplus)/Deficit
152,085
400,000
320,000
152,085
400,000
550,000
152,085
400,000
800,000
173,914
400,000
800,000
137,518
412
188,425
93,725
11,779
19,154
48,819
Table21Wateroperatingplan
15
0
173,914 173,914
400,000 400,000
900,000 1,350,000
30,683
37,749
SewerOperating
Revenues
Taxationandgrants
Saleofservices
Other&ownsources
Provincialunconditionaltransfers
Provincialconditionaltransfers
DCCfunding
NonTCAfunding
Othercontributions&donations
TotalRevenues
Ave.
actuallast
3years
2013
Budget
Actual
121,000
935,064
122,731
958,141
120,041
835,219
0
0
0
2014
Budget
2015
Budget
2016
Budget
2017
Budget
2018
Budget
2019
Budget
OperatingExpensesbytype
Employmentcosts
Travelandmeetingexpenses
Telephone
Advertising
Licencesandinsurance
Memberships&conferences
Contractedservices
Officesupplies
Utilities
Miscellaneous
Freight,courier&postage
Legal&professional
Maintenanceofbuildings&equipment
Materials&supplies
Equipmentrental(internal&external)
Grantsinaid
Vehiclemaintenance&fuel
NonTCAexpenditures
Amortization
Interest
Totaloperatingexpensesbytype
Operating(surplus)/deficit
287,847
236,934
120,446
434,485
430,107
484,461
557,993
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
919,000
619,000
300,000
0
0
0
0
0
0
0
193,480
3,952
0
126,352
63,176
827,500
527,500
300,000
0
0
350,000
350,000
0
0
0
930,000
610,000
0
0
320,000
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
111,246
125,000
200,000
111,246
196,442
225,000
88,494
199,449
155,000
111,246
125,000
730,000
111,246
125,000
300,000
111,246
125,000
550,000
121,992
125,000
550,000
121,992
125,000
550,000
121,992
125,000
750,000
(Surplus)/Deficit
101,601
97,130
76,401
281,761
143,862
51,784
11,001
47,814
115,158
594,806
631,834
Capitaloutofrevenue
Table22Seweroperatingplan
16
Table23Generaloperatingcontractedservices
17
2013
Budget
60,400
100
10
107,000
3,000
18,000
0
10,000
20,000
0
0
25,000
20,000
0
10,000
2,000
10,000
2,000
4,000
1,000
0
80,000
5,000
45,000
45,000
25,000
2,000
53,000
8,600
30,000
500,000
232,600
67,400
0
0
0
110,000
500
10,000
0
0
0
1,000
7,000
0
2,000
0
10,000
26,900
29,410
1,582,920
Ave.Actual
2014
2015
2016
2017
2018
Actual
Last3years Budget Budget Budget Budget Budget
60,400
60,400 60,400 61,500 61,500 61,500 61,500
0
24
100
100
100
100
100
281
191
10
10
10
10
10
72,956
66,406 91,000 97,000 119,500 114,500 120,500
601
1,501
3,500
3,500
3,500
3,500
3,500
0
0 15,000 18,000 18,000 18,000 18,000
6,297
2,099
0
0
0
0
0
5,775
6,855 10,000 10,000 10,000 10,000 10,000
0
2,775 20,000 20,000 20,000 20,000 20,000
0
(3,917) (17,950)
0
(5,000)
0 (23,000)
0
0
1,800
0
0
2,000
2,000
18,418
11,789 25,000 28,000 28,000 28,000 28,000
13,087
11,204 18,000 20,000 18,000 21,000 21,000
(1,555)
2,355
0
0
0
0
0
1,980
3,878
0
0
0
0
0
0
38
2,000
0
0
0
0
0
5,399 10,000 10,000 10,000
8,000
8,000
230
589
2,000
0
0
0
0
4,000
2,667
4,000
4,000
4,000
4,000
4,000
1,000
667
1,000
1,000
1,000
1,000
1,000
0
281
0
0
0
0
0
79,969
82,224 80,000 85,000 85,000 90,000 90,000
4,303
2,821
5,000
5,000
5,000
5,000
5,000
45,000
44,167 45,000 50,000 50,000 50,000 50,000
43,936
42,229 45,000 45,000 45,000 45,000 45,000
25,000
26,667 25,000
0
0
0
0
0
0
2,000
2,000
2,000
2,000
2,000
53,001
48,207 53,000 53,000 53,000 53,000 53,000
6,934
8,155
9,000
9,000
9,500
9,500
9,500
30,000
45,934 30,000 30,000 30,000 30,000 30,000
789,075
538,160 550,000 550,000 550,000 550,000 550,000
388,674
376,356 300,000 300,000 300,000 300,000 300,000
0
12,725
0
0
0
0
0
1,645
593
0
0
0
0
0
225
75
0
0
0
0
0
88,800
92,647 50,000 50,000 50,000 50,000 50,000
84,879
28,293 110,000 110,000 110,000 110,000 110,000
34
11
500
500
500
500
500
3,042
3,887 10,000 10,000 10,000 10,000 10,000
0
3,365
0
0
0
0
0
0
609
0
0
0
0
0
0
23,585
0
0
0
0
0
26
9
2,000
2,000
2,000
2,000
2,000
4,647
5,255
7,000
7,000
7,000
7,000
7,000
0
0
5,500
1,500
1,500
1,500
1,500
2,228
1,395
2,000
3,000
3,000
3,000
3,000
0
6,588
0
0
0
0
0
10,277
9,305 10,000 10,000 10,000 10,000 10,000
14,168
42,099
0
0
0
0
0
29,410
19,607 29,410 29,410 29,410 30,210 30,210
1,888,743
1,640,168 1,616,270 1,625,520 1,641,520 1,650,320 1,633,320
Table24Generaloperatingmiscellaneousexpenses
18
2019
Budget
61,500
100
10
126,500
3,500
21,000
0
10,000
20,000
0
0
28,000
21,000
0
0
0
8,000
0
4,000
1,000
0
90,000
5,000
50,000
45,000
0
2,000
53,000
9,500
30,000
550,000
300,000
0
0
0
50,000
110,000
500
10,000
0
0
0
2,000
7,000
1,500
3,000
0
10,000
1
30,210
1,663,321