Professional Documents
Culture Documents
Fin Financial Plan 2016 2020
Fin Financial Plan 2016 2020
Finaanciial
P
Plan
n
Cityy of
Revvelstokee
SSeptember30
0,2015
D
Draft
Table of Contents
TableofContents....................................................................................................................................................i
ListofFigures..........................................................................................................................................................ii
ListofTables...........................................................................................................................................................ii
TheFinancialPlanataGlance...............................................................................................................................iii
FinancialPlanHighlights........................................................................................................................................iv
EstimatedCashFlow...............................................................................................................................................v
VisionStatement....................................................................................................................................................v
MissionStatement.................................................................................................................................................vi
OfficialCommunityPlanExtract...........................................................................................................................vii
2016CouncilObjectives........................................................................................................................................ix
Introduction...........................................................................................................................................................1
MeetingCouncilObjectives...................................................................................................................................1
ConsolidatedResults.............................................................................................................................................1
MajorAssumptions................................................................................................................................................1
ConsolidatedRevenues.........................................................................................................................................2
ConsolidatedOperatingExpenses.........................................................................................................................3
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...........................................................................................................................................4
Table8ListofCapitalProjects................................................................................................................................4
Table9Snowremovalcosts....................................................................................................................................6
Table10Debttoassetratio....................................................................................................................................6
Table11Reservetargets.........................................................................................................................................7
Table12Propertytaxincreases.............................................................................................................................7
Table13Propertytaxincreasesbyclass................................................................................................................8
Table14Taxesonexamplehouses........................................................................................................................8
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
20
25
20
15
15
10
10
5
5
0
2016
2017
2018
2019
2020
2016
2018
2019
2020
2019
2020
2019
2020
LongTermDebt
14
12
Millions
Millions
ConsolidatedCapitalExpenses
2017
10
25
20
15
6
4
10
0
2016
2017
2018
2019
2020
0
2016
2017
2018
CapitalReserves
3.50
Millions
Millions
ConsolidatedOperatingSurplus
4.00
3.00
2.50
4.5
4.0
3.5
3.0
2.00
2.5
1.50
2.0
1.00
1.5
0.50
1.0
0.00
0.5
2016
2017
2018
2019
2020
0.0
2016
2017
2018
AveragePropertyTaxIncrease
UtilityRateIncreases
12.00%
12.00%
10.00%
10.00%
8.00%
8.00%
6.00%
Water
6.00%
4.00%
2.00%
Garbage
2.00%
0.00%
2016
2017
2018
2019
2020
0.00%
2016
iii
Sewer
4.00%
2017
2018
2019
2020
1. Noproposedchangestoservicelevels.
2. 0%propertytaxincreaseproposedforallclasses(exceptClass2)in2016.
3. Capitalprojectsoverthenext5yearsamounttoabout$40million.
4. Longtermdebtincreasestoabout$23millionattheendof2020.
5. Waterprojectsincludethereplacementofwaterfiltersatthefiltrationplant($615,000)in2019andthe
constructionofawatersupplytoThomasBrookresidents($650,000)in2016.Thislatterprojectistobe
fundedbylongtermborrowingandpaidforunderaLocalServiceArea(LSA)bytheThomasBrook
users.
6. TheBigEddyWaterworksprojecthasbeenincludedat$5.7million(20162018).Twothirdsofthe
fundingwillcomefromgrantswhilethebalancewillbepaidforbytheBigEddywaterusers.
7. ThomasBrooksewerconnectionisincludedat$320,000in2016.Again,thiswillbefundedbythelocal
usersthroughanLSA.
8. Areplacementarenaroofisincludedintheplanat$7million(2020)tobefundedbylongterm
borrowing.ThereareseveraloptionsavailabletoCouncilregardingthearenaroofprovidingless
expensivealternativesbutwithvaryingdegreesoflifespan.Thefinancialplancontainsthemost
expensiveandlongestlifeexpectancyoptionatthemoment.
iv
2016
2017
5,336,020 4,474,200
8,996,461
4,138,183
6,291,295
2,223,000
1,603,333
2018
2019
2020
4,432,097 4,616,071 6,251,708
2,681,036 2,648,993
773,331
821,171
839,041
25,933,308 26,407,970 27,736,407 28,971,277 35,509,095
7,480,400
42,500
57,800
67,750
268,175
134,500
3,187,145
54,900
950,800
2,384,020
43,200
133,500
422,750
647,150
824,200
97,500
468,500
891,854
1,709,160
19,865,804
Increaseoverpreviousyear
0.99%
7,607,291 7,739,275
44,250
45,250
59,750
61,200
67,450
73,650
271,150
273,050
131,750
134,500
3,258,295 3,293,100
54,150
55,150
973,100
985,100
2,375,620 1,757,620
43,800
44,400
140,500
143,500
436,750
442,250
662,850
667,350
827,500
830,000
100,000
100,000
486,750
487,000
932,378
967,511
1,196,171 1,040,492
19,669,505 19,140,397
0.99%
2.69%
7,875,052
44,500
61,825
67,500
273,875
135,500
3,298,600
54,950
991,100
1,793,620
44,900
141,500
443,250
664,350
831,500
100,000
487,000
991,878
793,571
19,094,471
8,020,048
48,000
63,025
67,600
273,135
137,000
3,413,267
55,500
993,767
1,789,020
46,500
142,000
443,500
669,750
845,500
100,000
492,000
991,878
886,618
19,478,107
0.24%
2.01%
Capitalexpenditures
Debtprincipalrepayment
D
E
6,308,500 6,105,900
620,824
674,667
Fundsavailableattheendoftheyear
Thisestimatedcashflowstatementhasbeenincorporatedintothefinancialplandocumenttoprovideadditionalclarity.It
doesnotmeettheregulatoryrequirementsofPSABortheprovinceforfinancialplanpresentation.PleaserefertoTable18
fortheactualconsolidatedfinancialplan.
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.
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. Quality of life
TheCityofRevelstokewillemphasizequalityoflifeissuesincludingsocial,activeliving,culturalexperiencesand
recreationopportunities.
Moveforwardwithplannedrecreation/activelivingandculturalprojects.
i.e.:culturestrategy,trailsplan,Kovachupgrade,pumptrack,WilliamsonLakeTrails
Moveforwardwithyouthandseniorsqualityoflifeissues,followingstrategiespreviouslydeveloped
throughplansandsubjecttobudgetpriorities.
Improveandmaintainsocial,economic,foodandinstitutional(police,fire,ambulance)securityforall
residents.
TheCityofRevelstokewillensurethatCityservicesencourageandsupportcommunityvisiontowards
developmentforthefuture.
OCP&ZoningReviewwilllookforopportunitiestoincreaseresidentialdensities,whereverpossible,
factorstoconsiderincludeinfrastructure,livability,affordabilityandmobility.
LandInventorytobecriticallyassessedastocurrentlandholdingsandanyacquisitionopportunities
toachievecommunitygoalsandvision.
Externalrelationshipswillbefosteredonmutualgoalsandrespectandwillcreateanenvironment
ofacohesiveproblemsolvingopportunityenhancingpartnerships.
Bylawenforcementisbuiltonasystemthatisfairandconsistent,easilyunderstoodandreasonably
enforced.
3. Safeguard Infrastructure
TheCityofRevelstokewillprotectthecontinuanceofhealthyinfrastructureforcurrentandfuturegenerations.
Implementingstrategyfortheforumroof,golfcourse,MutasRoadandTownleyRoadintersections
andBigEddyWaterSystem,subjecttobudgetpriorities.
CompletinglongrangeplanningdocumentsforZoningBylawandOfficialCommunityPlaninhouse.
CompleteaDevelopmentCostChargesreviewandbylaw.
PursueadditionalHeritageprotectionopportunities.
ix
FinishfirststageofupgradestoCityHall
ImplementationofAssetManagementPlan
Overa4yearperiod,bringthetaxratioforcommercialtoresidentialcloserto2:1
Streamlineadministrativeprocessestobetterassistbusinessesanddevelopersinadvancingtheir
projects.
investigateanddeveloprevitalizationtaxexemptions
PromoteandfacilitatetourismdriversbyimprovingrelationshipswithusergroupsandRevelstoke
MountainResort
EncouragetheprotectionandpromotionofRevelstoke'sheritageasitrelatestoeconomic
development
EnhancementProjects
LooktoplacingattractivechangeablesignageontheTCHattheeastandwestapproachestothe
City,whichwouldpromotelocalRevelstokeevents
LooktomakingfreeWiFiavailableinthedowntowncore
Continuewithdowntowncommercialenhancementinitiatives
PromotefurtherhoteldevelopmentinRevelstoke
ContinuediscussionswithfederalandprovincialpartnerswithrespecttoimprovingtheRevelstoke
interchangeswithTCH
ContinuediscussionswiththeSchoolBoardregardingdevelopmentplansofthelocalschool
properties
InvestigatethepossibilityofhavingtheRockyMountaineeruseRevelstokeasanovernightstop
Introduction
ThesurplusshowninTable1aboveisthe
consolidatedoperatingsurplusbefore
accountingforcapitaloutofrevenue,debt
principalrepayments,transfersfromequityin
capitalassets(tocoveramortization)and
transferstoreserves.Afteraccountingforthese
itemsthenetsurplus/deficitbecomes:
Thefinancialplanstartswithaconsolidated
summary(Table18page12)withfollowing
subsidiaryscheduleswhichprovidefurther,
progressivedetailsupportingtheconsolidated
plan.
Theconsolidatedfinancialplanshowsthe
operatingexpensesforalldepartments,
includingwaterandsewer.Italsoshowsallthe
operatingexpensesbytype.Thisprovidesthe
readerwithnotonlyanindicationofthe
proposedexpendituresperdepartmentbutalso
howthoseexpendituresareallocatedbetween
thevariouscosttypes.
$millions
Net
surplus/
deficit
Accumulated
surplus
$millions
General
Water
Sewer
Total
Councilhassetanumberofobjectivesfor2016,
someofwhichwillhaveadirectimpactonthe
financialplan.Themostnotableoftheseare:
2020
26.02
Expenses
21.20
4.10
4.60
2017
0.44
0.45
0.01
0.89
2018
0.41
0.46
0.02
0.89
2019
1.35
0.20
0.22
1.77
2020
3.10
0.26
0.22
3.58
Servicelevelswillremainconsistent
withlastyear.
CPIwillcontinuegenerallyinthe2%
range2.
CPIisnotthebestindicatoroffuturecostincreases
formunicipalitiesbecauseitisnotrepresentativeof
thetypesofgoodsandservicesnormallypurchased
bylocalgovernments.Sincemunicipalitiescostsare
morelikelytoinvolveconstruction,road
maintenanceetc.thesecostsaremorealignedwith
thepriceofoilandtheconstructioncostindex
(ENR).TheCityofSt.Albert,AB,hasforecastthatits
MunicipalPriceIndex(MPI)for2013willbe3.5%
andinthelast3yearsithasbeenbetween3.1%and
3.7%.
4.81
Table1ConsolidatedResults
2016
0.50
0.39
0.17
1.05
2.84
3.58
Theconsolidatedresultsarebasedonthe
followingassumptions:
Forthe20162020periodtheprojected
consolidatedresultsareasfollows:
1.58
1.77
Major Assumptions
Consolidated Results
Surplus
0.89
Table3Accumulatedsurpluses
TheinclusionoftheBigEddywater
systemupgradeat$5.7millionin2016
2018withtwothirdsfundingfrom
seniorgovernments.
OCPandzoningbylawupdates.
OngoingimplementationofAsset
Managementprogram.
0.89
2020
1.81
Theaccumulatedconsolidatedsurpluscanbe
attributedtoeachofthethreeoperatingareas
asfollows:
1.05
Table2Netconsolidatedsurplus
Readersshouldnotethatsomecolumnsmay
notaddduetorounding.
2016
0.26
internalequipmentearningsandCBTfunding6
areremovedtheincreasebecomes2.6%.
Propertytaxeswillincreaseatan
averageof0.07%in2016.3Thegeneral
operatingsurplusfromprioryearswill
bereducedby$152,116toachieve
this.
Propertytaxgrowthfromnew
constructionwillaverage3%ayear
commencing20174.
Feesandchargesrateswillincrease
approximatelyinlinewithCPI.
Utilityrateswillincreasegenerallyata
higherratethanCPItomeet
operationalandcapitalrequirements.
RCMPcontractedmunicipalforce
remainsat11.TheRCMPhave
requesteda12thmemberbutthe
financialplandoesnotincludethis
additionalcost(about$120,000ayear)
atthistime.
2016ConsolidatedRevenue
Taxation(inc.PILTS,GILTS&
1%utilitytax)
5%
Services
7%
3%
Ownsources
4%
Unconditionaltransfers
Conditionaltransfers
57%
23%
NonTCAfunding
Other
Figure1Consolidatedrevenue
Revenuegrowthisattributabletothemain
categoriesasfollows:
Consolidated Revenues
$
2015
2016
Taxation&
grants
12,921,704 13,134,644
Services
5,305,953 5,447,495
Ownsources7
895,800
936,800
Unconditional
transfers
600,000
600,000
Conditional
transfers
1,121,500 1,623,000
NonTCA
2,192,400 1,240,160
Other
184,782
190,222
Total
23,222,139 23,172,320
Thetotalconsolidatedrevenuein2016is
expectedtodecreasebyabout0.2%over2015
(includingnonTCAfunding).IfnonTCA
funding5isexcludedfromthecalculationthe
increasebecomes4.3%.Whenhoteltax,
(www.stalberttaxpayers.org/index.org/index_htm_fil
es/03_AR_MPI.pdf)
3
InaccordancewithBill55theClass2(Utilityrate)is
setat2.77timestheClass6(Business)rate.
Therefore,thepropertytaxincreaseforClass2may
notequaltheaverage.Theaverageforallother
classesis0%.
4
Growthisestimatedat1.57%in2016.
5
In2015,MFAchangeditsprocessforfinancing
leases.LeasepaymentsarenowtreatedasTCAs.
%Inc.
1.6%
2.7%
4.6%
0.0%
44.7%
43.4%
2.9%
0.2%
4.3%
Table4Revenuegrowth
CBTfundingof$351,500peryearisnowincluded
asbothCEDrevenueandexpendituretobe
consistentwiththepresentationofsimilarfunding
sources.
7
Licences/permitfees,fines,rentalrevenue,return
oninvestments,penaltiesandinterest,saleoffixed
assets.
1%
2016ConsolidatedExpenses
Totalconsolidatedoperatingexpensesin2016
areexpectedtodecreasebyabout1.1%over
2015(includingnonTCAexpenditures).Ifnon
TCAexpendituresareexcludedfromthe
calculationthentheincreasebecomes3.6%.
Employment
8%
4%
Contractedservices
8%
35%
Otheroperating
Amortization
19%
Thefollowingtableindicatesthemaincost
drivers:
$
2015
2016
Employment
7,291,400 7,480,400
Contracted
services
3,108,050 3,187,145
Miscellaneous 1,860,820 2,384,020
Other
4,182,925 4,213,225
operating8
Amortization
1,725,000 1,725,000
Interest
1,029,098
891,854
NonTCA
2,636,965 1,709,160
Total
21,834,258 21,590,804
Miscellaneous
Interest
15%
11%
%Inc.
2.6%
NonTCA's
2.5%
28.1%
Figure2Consolidatedoperatingexpenses
Generaloperatingexpensesonlyareforecastto
decreaseby0.20%in2016and2.10%by2020.
ExcludingnonTCAsthesenumbersbecome
increasesof4.15%and5.98%respectively.In
realterms,overallspendingisforecastto
remainconstant.
0.7%
0.0%
13.3%
35.2%
1.1%
3.6%
Table5Maincostdrivers
Thecityscapitalworksprogramme
incorporatesavarietyofdifferentprojectsfrom
roadreconstructiontovehiclereplacement,to
majorrepairsandothernonreoccurringasset
maintenanceitems.CityPolicyF10(Capital
Asset)setstheparametersforcapitalizationof
tangiblecapitalassets(TCAs)andthosethat
mustbeexpensedintheyearofacquisition
(nonTCAs).TCAsareamortizedovertheir
usefullivesand,again,PolicyF10setsthe
applicableamortizationrateaccordingtothe
categoryofasset.
By2020consolidatedexpensesareforecastto
decreaseby2.89%.IfnonTCAsareexcluded
theincreasebecomes5.83%overthe5year
periodand6.93%whenfurtherexcludinghotel
taxexpenditures,internalequipmentcharges
andCBTfunding.Amoredetailedanalysisof
thevariouscostdriverscanbefoundonpages
1218.
Insummary,TCAexpendituresareexpectedto
beasfollows:
$000s
General
Water
Sewer
Total
Includesinternalequipmentchargesoffsetby
equivalentinternalequipmentearnings.
2017
2018 2019
2,612 3,188 2,461
2,714 3,119 1,712
780 1,410 3,325
6,106 7,716 7,497
Table6Capitalexpenditures
2016
2,399
2,830
1,080
6,309
2020
8,885
953
2,720
12,558
alloftheroadreconstructionfundingis
budgetedtocomefromrevenuehencethe
significantpropertytaxincreaseforthatyear
(seeTable12Page7).Amortizationofroads
andbridgesamountstoabout$500,000ayear.
Sothecityisproposingtoinvestinits
transportationinfrastructureatahigherrate
thanthatatwhichitisbeingconsumed.
2020
1,885
1,695
7,833
0
1,145
12,558
Table7Capitalfunding
Theequipmentreplacementprogramme
introducedmanyyearsagocontinuesto
eliminateagingandcostlytomaintain
equipment.PublicWorksreportsthatin2007
theaverageageofitsfleetwas13.64yearsand
thatin2015itwas7.4years(20147.65years).
Someofthecapitalprojectsbeingconsidered
overthenextfiveyearsinclude9:
Project10
Cityhallrenos
Firetruck#2
Arenaroof
Fireflow
projects
(variousareas)
Hydrant
replacement
programme
ThomasBrook
watersupply
ThomasBrook
sewer
Seweroutflow
relocation
Downieforce
main
replacement
BigEddywater
Year
1,335,000
500,000
7,000,000
20162020
2016
2020
1,009,000
20162019
300,000
20162020
650,000
2016
320,000
2016
4,300,000
20162019
1,000,000
20162018
5,700,000
20162018
IT
infrastructure
670,000
20162020
Table8ListofCapitalProjects
Roadreconstructionisestimatedtobeabout
$5.8millionoverthenextfiveyears.In2017,
Nevertheless,thereisalwaysopportunityfor
costreductionbutthisinevitablyrequiressome
difficultdecisionsonthepartofCouncil.
Managementstaffwillcontinuetoreviewthe
wayinwhichweprovideservicesandbring
Thelistisillustrativeonlyanddoesnotcontainall
thecapitalprojectsinthe20162020financialplan.
10
Someprojectsmayberepeatedfromlastyears
financialplanastheywerenotstartedandhave
beenrebudgeted.Atthisearlystageitisnotclear
howmanyprojectswillneedtoberebudgetedin
2016.
11
FederationofCanadianMunicipalitiesTheState
ofCanadasCitiesandCommunities2012
Inflation(inc.energycosts)
Demandsforneworimprovedservices.
Developmentgrowth.
Downloadingfromseniorgovernments.
beconsiderednoncontractualordiscretionary.
(SeeTable23page17).
Employment Costs
Miscellaneous Costs
Asemploymentcostsrepresentabout35%of
allcityoperatingexpenses,itisclearthatany
substantialreductionincostswillinvolve
reductionsinthelabourforce.
Asubstantialportionoftheseexpenditures
(about$1.24million)areoffsetbyequivalent
revenues.Thebalanceofabout$555,000orso
relatestodiscretionaryitems.(SeeTable24
page18).
Azerobasedbudgetapproachisusedin
determiningemploymentcostsinthefinancial
planningprocess.Eachyearanestimateismade
ofthehoursrequiredtocarryoutthecitys
variousfunctionsandworkprojects.For2016,
thisnumberis159,017hours12(158,952hours
2015)andincludes3,652hoursofovertime
(3,652hours2015).Theanticipatedcost,
includingbenefits,amountsto$7,521,104
($7,348,8292015),whichincludes$112,00013
forMayorandCounciland$64,60014forthe
volunteerfirefighters.Theactualbudgetedcost
intheconsolidatedfinancialplanfor2016is
$7,480,400.
FullfundingfortheSocialStrategyCoordinator
isincludedineachyearoftheplan.
Sewer Costs
Seweroperatingcostsareforecasttodecrease
by8.40%in2016mostlyastheresultoflower
nonTCAexpenditures.
Water Costs
Wateroperatingcostsareforecasttodecrease
by3.51%in2016mostlyastheresultofa
reductioninnonTCAexpenditures.
Subcontract Costs
Theseincludecertainmandatoryexpenditures
suchastheRCMPcontract,VictimServicesand
Transitwhichmakeupthebulkofthisexpense.
Othersubcontractcostsmaynotbemandatory
butareessential,suchassnowremoval.Of
theseexpensesperhapsabout$1millionmight
12
Thisnumberdoesnotincludehourscommittedto
capitalprojects.
13
MayorandCouncilhaveforegoneincreasesover
severalyears.In2016,theirremunerationshouldbe
$120,000assuminganannual2%increase.
14
Thisincludesthemonthlystipend,weekend
standbycompensationanddisabilityinsurance.
Grosscosts
Equip.
rental
internal15
Netcost
Perkm16:
Roads
Sidewalks
Ave.actual
last3years
1,157,725
2015
Budget
1,280,060
2016
Budget
1,317,750
371,015
786,710
4,721
1,882
475,000
805,600
4,834
1,927
481,000
836,750
expectedlifeinexcessofthedebtcontracted,
thereisavalidargumentthatperhapslong
termdebtshouldnotbeusedforthistypeof
project.Thisfinancialplancontinuesthe
strategyestablishedinthepreviousplantonot
borrowfurtherforroadreconstructionandrely
completelyoncurrentrevenuetofundsuch
works.Theplandoesanticipateborrowinglong
termforcertainwaterandsewerprojectsas
wellasanewarenaroof.
5,021
2,002
Table9Snowremovalcosts
LongTermDebt
Millions
16
12
10
8
6
4
2
0
Overthepast14yearsorsothecityhas
borrowedtohelpfundseveralmajorprojects.
TheseincludetheRCMPbuilding,thewater
filtrationplantandtheaquaticcentre.Almost
50%oftheprincipalandinterestapplicableto
theRCMPbuildingisreimbursedtothecityby
thefederalgovernmentbywayofrent,while
thecityscontributionthroughdebttothe
filtrationplantandaquaticcentreleveraged
significantgrantfunding.Wehavealso
borrowedtoaddnewinfrastructuresuchasthe
ArrowHeightswaterreservoirandtoreplace
aginginfrastructuresuchastheTCHreservoir.
However,aportionofthecitysaccumulated
longtermdebtrelatestoroadreconstruction
and,althoughtheseareassetsanddohavean
2016
2017
2018
2019
2020
General
9,531,037
8,983,404
8,413,679
7,820,952
14,255,886
Water
3,630,276
3,935,928
4,205,615
3,804,492
3,385,582
Sewer
3,686,248
3,535,186
4,178,082
4,874,828
5,509,964
Figure3Longtermdebt
Thecitysprojecteddebt(longterm)toasset
ratioisasfollowsanditcanbeseenthat
Councilsobjectiveofreducingtheratio
reversesin2020:
2016
2017
2018
2019
2020
Capital Reserves
Thecitycontinuestotryandestablishincreased
capitalreserves.Ifrelianceondebtgoing
forwardistobecurtailedthenmoreneedsto
bedonetoensurethatcashisavailabletomeet
ourcapitalexpenditureswhenneeded.
15
Cityequipmentchargedtothefunctionandalso
showingasrevenue.
16
Costsbetweenroadsandsidewalkshavebeen
apportionedona10:1basis.
17
Anyperiodbetween5and30years.
Thecurrentfinancialplanforecastscapital
reservefundstobeatthefollowinglevelsatthe
endofeachyear:
6
14
Millions
TotalReserveFundingandExpenditure
4.00
3.50
5.0
4.5
4.0
3.00
3.5
2.50
3.0
2.00
2.5
2.0
1.50
1.5
1.00
1.0
0.50
0.5
0.0
0.00
2016
2017
2018
2019
2016
2020
2017
2018
2019
2020
Funding
Expenditure
Figure4Reserves
Figure5TotalReserveFundingandexpenditure
Attheendof2015capitalreservefundsare
estimatedtobeabout$4.5million18.
Thefundinggapin2016needstobeeliminated
ornarrowedconsiderablyifthecityisto
maintainandbuilditsreservefundseffectively.
Thebalancesshownintheforegoingchartdo
notincludetheElectricUtilityReserveFund,or
otheroperatingreserves.TheElectricUtility
ReserveFundcontains$1millionwhichisfully
investedinRevelstokeCommunityEnergy
Corporation(RCEC).TheSnowRemovalReserve
Fundisbeingfundedat$50,000peryearfrom
generaloperating.Bytheendof2020itis
anticipatedthatthisfundwillcontainabout
$330,507providedthatitdoesnotneedtobe
usedintheinterimtohelpequalize
unexpectedlyheavysnowremovalcosts.In
addition,theCityholdsapproximately$1.5
millioninDevelopmentCostCharges.
In2013,CounciladoptedaReservesand
SurplusesPolicywhichsetstargetsforminimum
andoptimallevelsforvariousreservesand
surpluses.Thefollowingtableshowshowthe
cityisperformingthusfar:
Category ofreserve
Statutory
Capital
General
Other
%of
minimum
balance
70.59%
55.98%
97.84%
87.00%
%of
optimum
balance
40.34%
15.63%
51.89%
42.88%
Table11Reservetargets
Property Taxes
In2016,thereisasignificantdisparitybetween
theamountoffundinggoingintothereserves
andtheamountbeingwithdrawntomeet
expenditures:
Propertytaxesareforecasttoincreaseon
averageacrossallclassescombinedasfollows:
2016
0.07%
2017
10.00%
2018
7.50%
2019
0.00%
2020
0.00%
Table12Propertytaxincreases
In2016,theincreasesanddecreasesforthe
individualpropertytaxclassesareasfollows19:
19
Thesenumbersarebasedonestimated
assessmentvaluesandaresubjecttochangeonce
completedassessmentnumbersfor2016areknown
attheendof2015.
18
AmoreaccurateaccountoftheCitysreserveswill
notbeknownuntilafterDecember31,2015
Class
1Residential
2Utility
4MajorIndustry
5LightIndustry
6Business
8Seasonal
Average
Increase/Decrease
0.00%
1.45%20
0.00%
0.00%
0.00%
0.00%
0.07%
Whatdoesthismeanforindividualproperty
owners?Well,forhomeownersthefollowing
tableindicatestheaveragetaxincrease24
applicabletoexampleassessmentvalues25:
Table13Propertytaxincreasesbyclass
CityPolicyF9RevenueandPropertyTaxsetsa
targetofClass1Residentialpropertytaxes
being50%oftheoveralltaxburden.In2015,
thepropertytaxpieisdividedasshowninthe
followingchart:
House
Assessment
2015
2016
Taxes
2015
2016
Increase
2016
0%
$100,000
$99,242
$488
$488
$0
$250,000
$248,105
$1,220
$1,220
$0
$500,000
$496,211
$2,440
$2,440
$0
ForbusinessownersfallingwithinClass6,the
resultsareasfollows:
2%
3%
Table14Taxesonexamplehouses
36%
53%
0% 5%
Figure6Shareofpropertytaxbyclass
Propertytaxgrowth(revenuefromnew
construction)isexpectedtocontributean
increaseof$138,613(or1.57%)21innewtax
revenuein2016andthencontinuetogrowat
about3%ayearfortheremainderofthe
22
Nodecisionhasbeenmadeatthistimeastoany
appropriationoftaxationrevenueforthe
equalizationaccount.
23
Itisunknownatthetimeofwritingthisreport
whetherthe2015financialresultswillpermit
maintainingabalanceinthisaccount.
24
Relatestomunicipaltaxesonlyanddoesnot
includeschooltaxes,CSRD,MFA,BCAA,orutilities.
25
Thesenumbersareprovisionalonlyandsubjectto
changeonceauthenticatedassessmentnumbersfor
2015areknown.
20
TheClass2rateisrestrictedtoamaximumof2.77
timestheClass6rate.Therefore,thispercentage
changemayalterdependingupontheactual
variationinassessmentvaluesandtaxrates.
21
Thisisbasedonstaffsestimatednumberof
$10,000,000(net)innewconstruction(NMC)for
2016.
$100,000
$98,926
$1,848
$1,848
$0
$250,000
$247,314
$4,619
$4,619
$0
Class4Taxes
350,000
$500,000
$494,628
300,000
250,000
200,000
$9,238
$9,238
$0
150,000
100,000
50,000
Table15Taxesonexamplebusinesses
0
2010
Thepropertytaxincreasesshowninthe
foregoingtablesarebasedonaverageincreases
ordecreasesinassessmentvalues26.
2011
2012
2013
2014
2015
2016
Figure7Class4taxes
Overall,propertytaxincreaseshaveaveraged
approximately2.44%ayearoverthelast3
years.Business(Class6)hasaverageda1.67%
annualincreasewhileresidential(Class1)has
averaged2.50%ascanbeseeninthechartthat
follows:
TheratioofClass6(Business)taxratetoClass1
(Residential)taxratein2015was3.80.Theratio
for2016cannotbecalculateduntilthe
completedrollandnonmarketchange(NMC)
numbersareknown(towardstheendof2015).
ReducingtheratiofurtherinlinewithCouncils
objectivemayrequireataxincreasefor
residentialpropertyandataxreductionfor
businesspropertywhilemaintaininga0%
increaseoverall.Thiswillnotbeentirelyclear
untiltheauthenticatedrollisproducedby
BritishColumbiaAssessmentAuthority(BCAA)
inApril2016.
Taxincreases last3years
Average
Class8
Class6
Class5
Class4
Class2
Class1
0.00%
Since2009,Class4(MajorIndustry)taxation27
willhavebeenreducedfromjustover$400,000
to$283,423in2016.
5.00%
10.00%
15.00%
20.00%
25.00%
2013
Class1
3.50%
Class2
1.68%
Class4
23.28%
Class5
3.50%
Class6
3.50%
Class8
3.50%
Average
3.96%
2014
2.00%
7.96%
4.25%
2.00%
1.00%
2.00%
1.99%
2015
2.00%
0.14%
2.00%
2.00%
0.50%
2.00%
1.37%
Figure8Taxincreaseslast3years
Utility Rates
Asmentionedpreviouslyinthisreport,utility
ratesareforecasttoincreaseoverthetermof
thefinancialplan.Utilityrates(bothresidential
andcommercial)areproposedtoincreaseas
follows:
26
BCAAassessmentvaluesfor2016arenotyet
availablesoitisnotpossibletodetermineincreases
ordecreasesinclassvalues.Tables14and15are
estimatesandareforillustrativepurposesonly.
27
DownieTimberistheonlytaxpayerinthisclass.
2016
2017
2018
Water
Sewer
Garbage
2.6%
4.1%
2.0%
2.5%
5.9%
2.0%
11.1% 11.1%
11.1% 0.0%
2.0% 2.0%
Table16 Utilityrateincreases
Rate
Inc.
2019
2020
5.0%
0.0%
2.0%
Basedontheforegoingpercentageincreases
residentialutilityrateswillbe:
2020
$525
$300
$122
Theredoesnotappeartobeanyinclinationby
theBankofCanadatoincreaseinterestrates
anytimesoonsothisshouldcontinuetobuoy
consumerconfidenceanddomesticspending.
Table17Residentialutilityrates
Aswell,itisproposedthatsewerfrontagetax
increasefrom$1.50to$1.60(perfootfrontage)
in2016.Thepurposeofthesewerfrontagetax
istoraisefundsforcapitalpurposes.Thistaxis
imposedequallyonbothresidentialandnon
residentialpropertythatfrontsasewerlinetoa
maximumof200feet(minimum50feet).
Economicuncertaintyhasimpactedthecityin
recentyearsbywayoftheerraticnatureof
buildingdevelopment.Overthelast8years
newconstructionhasbeenasshowninthe
followingchart:
Millions
Atthetimeofwritingthisreport,theCityis
reviewingitsdeliveryofgarbagecollection
whetherthisistoremaininhouseorbe
contractedout.Itisunclearatthistimewhat
impactCouncilsultimatedecisionwillhaveon
garbageutilityrates.
100
50
2016
2015
2008
AtthetimeofwritingthisreporttheCanadian
economyisshowingsignsofatechnical
recessionwhiletheUSAsrecoveryis
continuing.ThereremainsignsinEuropeaswell
asotherpartsoftheglobaleconomywhere
recoveryislesscertain.Therecentdecisionby
theUSFederalReservetomaintaininterest
ratesatanhistoricallylowlevelhasindicateda
lackofconfidenceintheglobaleconomyand
thepossibilityofdeflation.However,thereare
growingindicationsthatUSinterestratesare
settoincreasebeforetheendoftheyear.
2014
Economic Outlook
Figure9Newconstruction
Asaresult,itisdifficulttopredictwithany
degreeofaccuracywhattheleveloffuture
activitymightbeand,therefore,thedemand
forfutureservicesalongwiththepotentialfor
futuretaxgrowth.
WhilethelowCanadiandollarispositivefor
Revelstokestourismandforeigninvestment
prospects,itdoesnegativelyimpacttheCitys
budget.
AnnualinflationinCanadaaveraged1.3%in
August2015.Continuedweaknessinoilprices
10
Newconstruction
2013
2019
$500
$300
$119
2012
2018
$450
$300
$117
2011
2017
$405
$270
$115
2010
2016
$395
$255
$112
2009
Water
Sewer
Garbage
Thefinalresultsfor2015willnotbe
knownuntilthespringof2016.Itistoo
soontospeculateondraftresultsfor
2015.
Appealsagainstassessmentvalues
continuetobemadeandtheseare
incomeanddetrimentallyaffectanticipated
surpluses.TheestablishmentofaTax
Equalizationreservehasgonesomewayin
mitigatingtheeffectsinpreviousyears.
oftensuccessfulresultinginlost
revenuestothecity.Thecityhaslost
about$150,000intaxationrevenuesso
farin2015astheresultofsuccessful
appealswhichwillimpacttheresultsfor
theyear.
Theassumptionthatrevenuegrowth
fromnewconstructionwillbe3%ayear
isprobablyoveroptimisticbasedonthe
resultsinrecentyears.
Noneoftherecommendationsfromthe
FireDepartmentReviewhavebeen
incorporatedinthefinancialplanthus
far.Someofthemcomewithacostand
ifCouncilwishestopursueanyorallof
therecommendationsappropriate
provisionforthesecostswillhavetobe
madeintheplan.
TheongoingweaknessintheCanadian
dollarplacesupwardpressureoncosts
beyondnormalinflationforgoodsand
servicesoriginatingfromtheUSA.
Thepressuretodealwithaneverincreasing
burdenofcapitalprojectsasourinfrastructure
agesitplacesstressonourresources.Thisis
particularlyevidentinthewaterfunctionwhere
significantrateincreasesareanticipatedinlater
yearsinordertomeetthecostsofcapital
projects.Roadreconstructionandrehabilitation
isalsoanareathatrequiressignificant,ongoing
funding.
Inordertoensurethattaxandrateincreases
aremaintainedatreasonablelevelsitwillbe
necessarytocontinuetocriticallyreviewboth
capitalprojectsandservicelevels.
Conclusion
Thedraftplanindicatesa0%propertytax
increaseforallclasses(exceptClass2).While
thisapproachmaybepoliticallyexpedient,the
lossofrevenuefromamodestincreasewillbe
feltforyearstocome.Indeed,theplan
anticipatessignificantincreasesfor2017and
2018inparttocatchup.Councilsobjective
toachieveataxratiobetweenbusinessand
residentialcloserto2:1maywellrequire
furthershiftingofthetaxburdenfrombusiness
toresidentialregardlessofanoverall0%
increase.
TheCitycontinuestoexperiencesignificant
assessmentappealsspanningmultipleyears
whichcreatesuncertaintyinprojectingproperty
taxrevenues.Successfulappealscanhave
significantimpactsontheCitysprojected
11
ConsolidatedFinancialPlan
Budget
Revenues
Taxation(inc.PILTS,GILTS&1%utilitytax)
Saleofservices
Other&ownsources
Provincialunconditionaltransfers
Provincialconditionaltransfers
NonTCAfunding
Othercontributions&donations
TotalRevenues
Actual
Ave.Actual
3years
2015
2016
2017
2018
2019
2020
Budget
Budget
Budget
Budget
Budget
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
Amortization
Interest
Subtotal
NonTCAexpenditures
Totaloperatingexpensesbytype
7,173,925 6,668,949
42,500
32,803
64,450
62,836
74,150
51,334
243,890
250,507
109,100
71,273
3,217,350 3,117,548
49,000
50,915
874,250
962,772
1,851,070 1,979,808
29,800
34,640
124,100
187,623
381,650
359,847
607,710
523,096
730,350
766,206
90,000
79,769
445,500
433,494
1,725,000 1,725,000
1,031,697 1,004,359
18,865,492 18,362,780
2,208,614 1,681,012
21,074,106 20,043,792
OperatingExpensesbyDepartment
GeneralGovernment
FireProtection
ProvincialEmergencyProgram
PlanningandDevelopment
AnimalandPestControl
PoliceandCourtHouseservices
PublicWorks
Transit
EnvironmentalHealth(GarbagecollectionandRecycling)
PublicHealthandWelfare(Cemetery)
CommunityEconomicDevelopment
RecreationandCulture
Amortizationofcapitalassets
Wateroperating
Seweroperating
Debtinterestpayments
TotaloperatingexpensesbyDepartment
2,075,350 1,872,506
1,443,525 1,559,045
92,000
72,882
597,100
408,465
127,050
117,225
1,948,850 1,987,792
4,521,674 4,218,987
339,000
345,416
417,650
453,915
154,950
133,886
1,679,650 1,714,257
3,212,560 2,971,360
1,725,000 1,725,000
940,350
711,876
767,700
746,821
1,031,698 1,004,359
21,074,107 20,043,792
Operating(Surplus)/Deficit
1,702,778
2,844,789
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
2,698,221
1,907,500
350,000
195,000
0
1,674,533
626,004
0
870,774
0
245,721
177,755
Capitaloutofrevenue
239,264
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
(Surplus)/Deficit
620,824
1,725,000
2,611,000
620,824
1,725,000
3,524,639
49,767
246,570
567,469
620,824
620,824
674,667
695,936
1,807,044 1,725,000 1,725,000 1,725,000 1,725,000
2,627,925 2,140,000 2,725,000 2,973,000 3,457,000
744,069
1,725,000
3,376,000
744,069
1,725,000
2,840,000
873,769
1,810,128
307,477
21,549
Table18ConsolidatedFinancialPlan
12
7,497,100 12,558,300
2,648,800 1,885,000
0
0
2,626,300 1,695,300
887,000 7,833,000
1,145,000
1,080,000
4,814,197
1,335,000
225,000
4,603,839
1,675,000
330,507
264,309
161,949
806
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
TANGIBLECAPITALASSETS
EXPENDITURES
2016
2017
2018
2019
542,500
106,000
0
0
0
45,900
150,000
1,393,600
6,700
28,300
125,500
2,398,500
0
179,300
0
0
0
63,400
150,000
1,865,700
3,900
28300
321,300
2,611,900
570,000
168,800
0
0
7500
38,400
150,000
2,164,700
0
28300
59,900
3,187,600
225,000
181,000
0
0
0
6,000
150,000
1,770,300
0
28300
100,000
2,460,600
2020
0
168,000
0
0
0
6,000
150,000
1,517,000
0
28300
7,016,000
8,885,300
225,000
1,080,000
1,675,000 1,335,000 1,145,000
540,000
0
532,500
225,000
20,000
106,000
179,300
168,800
181,000
168,000
551,100
405,700
544,700
445,300
362,000
150,000
150,000
150,000
150,000
150,000
6,700
3,900
0
0
0
45,900
63,400
38,400
6,000
6,000
105,500
301,300
49,900
90,000
6,000
0
0
0
0
0
28,300
28,300
28,300
28,300
28,300
640,000
400,000
0
0
0
0
0
0
0 7,000,000
2,398,500
2,611,900
3,187,600 2,460,600 8,885,300
NONTANGIBLECAPITALASSETS
EXPENDITURES
2016
2017
2018
2019
2020
379,860
171,071
49,500
64,000
0
0
100,000
50,000
0
0
76,800
54,600
0
0
384,000
363,500
15,000
15,000
60,000
60,000
339,500
241,000
1,404,660 1,019,171
78,992
15,000
0
60,000
0
58,500
0
377,000
12,500
60,000
235,500
897,492
116,071
0
0
0
0
17,000
0
386,500
0
60,000
66,000
645,571
155,618
0
0
0
0
37,000
0
386,000
0
60,000
101,500
740,118
469,000
386,000 409,000 360,000 364,000
129,500
57,500
20,500
17,000
17,000
49,500
64,000
15,000
0
0
287,360
172,071
85,992 121,071 160,618
0
0
0
0
0
15,000
15,000
12,500
0
0
34,800
8,100
38,000
0
20,000
339,500
236,000 235,500
66,000
96,500
0
0
0
0
0
80,000
80,500
81,000
81,500
82,000
0
0
0
0
0
0
0
0
0
0
1,404,660 1,019,171 897,492 645,571 740,118
2,830,000
1,080,000
3,910,000
2,714,000
780,000
3,494,000
3,118,500
1,410,000
4,528,500
1,711,500
3,325,000
5,036,500
953,000
2,720,000
3,673,000
212,250
92,250
304,500
61,000
116,000
177,000
51,000
92,000
143,000
53,250
94,750
148,000
52,000
94,500
146,500
220,000
1,266,667
60,000
0
1,283,333
2,830,000
619,000
1,461,667
0
0
633,333
2,714,000
1,008,500
1,476,667
0
0
633,333
3,118,500
1,286,500
425,000
0
0
0
1,711,500
953,000
0
0
0
0
953,000
177,250
10,000
0
25,000
0
212,250
36,000
0
0
25,000
0
61,000
25,500
0
0
25,500
0
51,000
27,750
0
0
25,500
0
53,250
26,000
0
0
26,000
0
52,000
760,000
0
0
320,000
1,080,000
780,000
0
0
0
780,000
610,000
0
0
800,000
1,410,000
265,000
2,173,000
0
887,000
3,325,000
220,000
1,667,000
0
833,000
2,720,000
67,250
0
25,000
0
92,250
91,000
0
25,000
0
116,000
66,500
0
25,500
0
92,000
69,250
0
25,500
0
94,750
68,500
0
26,000
0
94,500
6,308,500
6,105,900
7,716,100
7,497,100 12,558,300
793,571
886,618
2,485,200
1,354,967
1,603,333
640,000
225,000
6,308,500
2,502,600
1,489,967
633,333
400,000
1,080,000
6,105,900
3,102,800
1,504,967
1,433,333
0
1,675,000
7,716,100
2,648,800 1,885,000
2,626,300 1,695,300
887,000 7,833,000
0
0
1,335,000 1,145,000
7,497,100 12,558,300
1,100,160
679,671 499,492
90,000
80,500
81,000
0
0
0
50,000
50,000
51,000
469,000
386,000 409,000
1,709,160 1,196,171 1,040,492
301,071
81,500
0
51,000
360,000
793,571
388,618
82,000
0
52,000
364,000
886,618
TotalLongTermDebt
16,847,561
16,454,518
TotalCapitalReserves
2,865,425
2,770,798
2,763,898
3,360,701
4,114,430
DCCFund
1,435,874
1,335,908
1,625,258
1,883,415
2,149,657
Sourcesoffunding:
Waterreserve
Grant
Gastax
DCC's
Debt
Sourcesoffunding:
Sewerreserve
Grant
DCC
Debt
TotalCapitalExpenditure
TotalSourcesofFunding:
Reserves
Grantsandother
Debt
DCC's
Revenue
Table19ConsolidatedCapitalPlan
13
GeneralOperatingFinancialPlan
Revenues
Taxation(inc.PILTS,GILTS&1%utilitytax)
Saleofservices
Other&ownsources
Provincialunconditionaltransfers
Provincialconditionaltransfers
NonTCAfunding
Othercontributions&donations
TotalRevenues
Budget
Ave.Actual3
years
Actual
2015
2016
2017
2018
2019
2020
Budget
Budget
Budget
Budget
Budget
Budget
14,127,249
2,528,424
904,100
600,000
1,623,000
633,171
60,000
20,475,944
15,226,635
2,543,828
904,100
600,000
1,023,000
488,492
60,000
20,846,055
15,546,339
2,557,875
904,400
600,000
1,023,000
285,571
60,000
20,977,185
15,900,728
2,576,818
904,400
600,000
1,023,000
376,118
60,000
21,441,065
12,548,869
2,400,283
1,006,800
600,000
1,151,500
1,667,600
60,000
19,435,051
12,389,826
2,682,018
802,023
547,969
1,912,535
1,339,389
0
19,673,760
12,049,048
2,451,762
879,349
549,182
1,465,985
1,455,217
48,981
18,899,523
12,662,418
2,473,244
895,800
600,000
1,121,500
1,691,900
60,000
19,504,862
12,858,072
2,502,310
936,800
600,000
1,623,000
935,660
60,000
19,515,841
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
6,624,425
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
6,177,391
24,832
57,757
51,334
219,043
71,273
2,966,259
50,915
795,438
1,747,644
19,105
187,623
359,847
376,226
703,547
79,769
419,411
1,200,000
542,853
16,050,268
1,548,321
17,598,589
6,288,352
27,182
57,856
52,991
201,480
83,339
2,806,237
44,901
713,796
1,745,339
19,248
116,830
328,449
378,645
606,795
80,342
399,329
1,307,853
552,089
15,811,053
1,727,304
17,538,357
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
2,136,465
18,848,761
6,936,400
36,000
52,200
65,450
236,925
134,500
2,999,345
54,900
807,700
2,148,720
29,300
133,500
422,750
420,650
737,400
97,500
452,500
1,200,000
440,064
17,405,804
1,404,660
18,810,464
OperatingExpensesbyDepartment
GeneralGovernment
FireProtection
ProvincialEmergencyProgram
PlanningandDevelopment
AnimalandPestControl
PoliceandCourtHouseservices
PublicWorks
Transit
EnvironmentalHealth(GarbagecollectionandRecycling)
PublicHealthandWelfare(Cemetery)
CommunityEconomicDevelopment
RecreationandCulture
Amortizationofcapitalassets
Debtinterestpayments
TotaloperatingexpensesbyDepartment
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
1,872,506
1,559,045
72,882
408,465
117,225
1,987,792
4,218,987
345,416
453,915
133,886
1,714,257
2,971,360
1,200,000
542,853
17,598,589
1,763,255
1,468,545
66,086
514,643
112,661
1,867,173
4,186,291
329,656
431,735
143,998
1,772,296
3,022,076
1,307,853
552,089
17,538,357
2,037,300
1,503,250
92,000
584,200
147,550
2,086,150
4,809,325
369,000
395,500
151,150
1,580,500
3,328,435
1,200,000
564,401
18,848,761
2,275,560
1,395,045
92,000
713,700
150,050
2,064,350
4,146,110
369,000
392,500
138,200
2,056,000
3,377,885
1,200,000
440,064
18,810,464
Operating(Surplus)/Deficit
1,058,691
2,075,170
1,361,165
656,101
705,378
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
1,211,721
790,000
50,000
126,000
0
1,374,448
325,919
0
870,774
0
1,674,663
241,108
0
358,917
835,374
2,450,247
1,153,740
90,000
876,000
0
2,398,500
1,505,200
640,000
28,300
0
245,721
177,755
239,264
330,507
225,000
357,493
1,200,000
1,561,000
357,493
1,200,000
2,464,639
312,462
1,307,853
1,876,259
357,493
1,200,000
1,290,000
357,493
1,200,000
1,475,000
94,477
275,283
241,034
121,900
152,116
Capitaloutofrevenue
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
(Surplus)/Deficit
Table20Generaloperatingfinancialplan
14
1,080,000
1,675,000
1,335,000
1,145,000
357,493
357,493
357,493
357,493
1,200,000 1,200,000 1,200,000 1,200,000
1,623,000 1,902,000 1,476,000
940,000
60,540
29,439
943,235 1,745,978
WaterOperating
Aveactual
last3
years
2014
Budget
Actual
2015
Budget
2016
Budget
2017
Budget
2018
Budget
2019
Budget
2020
Budget
Revenues
Saleofservices
DCCfunding
NonTCAfunding
Othercontributions&donations
TotalRevenues
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
Operating(surplus)/deficit
209,603
332,874 269,595
301,673
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
659,000
590,000
0
69,000
0
223,424 660,190
223,424 266,491
0
0 193699
200,000
Capitaloutofrevenue
152,085
400,000
550,000
152,085
400,000
700,000
412
67,518
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
152,085
400,000
320,000
152,085 147,283
400,000 295,536
330,000 466,667
(Surplus)/Deficit
137,518
250,789
48,819
Table21Wateroperatingplan
15
384,567
11,456
260,135
56,194
2014
Budget
Actual
Ave.
actuallast 2015
3years Budget
2016
Budget
2017
Budget
2018
Budget
2019
Budget
2020
Budget
Revenues
Taxationandgrants
Saleofservices
NonTCAfunding
Othercontributions&donations
TotalRevenues
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
434,485
Capitalexpenditures
Contributionsfromreserves
ContributionsfromDCC's
ContributionsfromGrants
Debtproceeds
827,500
527,500
300,000
0
0
Capitaloutofrevenue
111,246
125,000
550,000
44,675
(Surplus)/Deficit
281,761
279,501
24,908 143,861
Table22Seweroperatingplan
720,780 764,527
781,813
111,246
125,000
730,000
585,669
Debtprincipal
Transferfromequityincapitalassets
Transferstoreserve
16
491,570
121,992
125,000
750,000
121,992 148,857
125,000 125,000
705,000 550,000
148,857
125,000
750,000
161,323
18,789 190,670
7,956
Table23Generaloperatingcontractedservices
17
2014
Ave.Actual
2015
Budget Actual Last3years Budget
60,400 60,400
60,400
61,500
100
0
0
100
10
881
454
10
91,000 62,096
66,021
97,000
3,500 15,238
6,080
3,500
15,000
0
0
18,000
0
0
2,099
0
10,000 11,130
8,233
10,000
20,000
940
2,613
20,000
(17,950)
0
0
0
1,800
0
0
0
25,000 24,403
18,387
28,000
18,000 16,138
12,569
20,000
0
(5,377)
(2,311)
0
0
0
2,168
0
2,000
0
0
0
10,000
0
2,719
10,000
2,000
0
278
0
4,000
4,000
4,000
4,000
1,000
0
667
1,000
0
0
265
0
80,000 73,635
78,235
85,000
5,000
0
1,197
5,000
45,000 45,000
45,000
50,000
45,000 31,434
39,865
45,000
25,000
0
16,667
0
2,000
0
0
2,000
53,000 47,871
50,015
53,000
9,000
1,987
5,952
9,000
30,000 14,064
25,914
30,000
550,000 554,096
587,019 550,000
300,000 475,917
421,238 300,000
0
0
12,725
0
0
0
548
0
0
3,740
1,322
0
50,000 134,885
117,692
50,000
110,000
500
10,000
0
0
0
2,000
7,000
5,500
2,000
0
10,000
0
29,410
1,616,270
76,760
86
0
1,252
0
0
0
0
6,635
5,934
10,191
0
9,467
35,430
29,410
1,747,644
2016
Budget
61,500
100
10
123,000
3,500
19,500
0
10,000
20,000
0
0
28,000
23,200
0
0
0
10,000
0
4,000
1,000
0
85,000
0
50,000
45,000
0
2,000
53,000
5,000
30,000
600,000
400,000
0
0
0
50,000
351,500
110,000
Table24Generaloperatingmiscellaneousexpenses
2018
2019
Budget Budget
61,500
61,500
100
100
10
10
118,000 127,000
3,500
3,500
19,500
21,500
0
0
10,000
10,000
20,000
20,000
(23,000)
0
2,000
0
28,000
28,000
21,500
21,500
0
0
0
0
0
0
8,000
8,000
0
0
4,000
4,000
1,000
1,000
0
0
85,000
85,000
0
0
52,000
54,000
45,000
45,000
0
0
2,000
2,000
53,000
55,000
5,000
5,000
30,000
30,000
0
0
400,000 400,000
0
0
0
0
0
0
50,000
50,000
351,500 351,500
110,000 110,000
2020
Budget
61,500
100
10
120,000
3,500
23,500
0
10,000
20,000
0
0
28,000
21,500
0
0
0
8,000
0
4,000
1,000
0
85,000
0
54,000
45,000
0
2,000
55,000
5,000
30,000
0
400,000
0
0
0
50,000
351,500
110,000
53,880 110,000
29
11
500
500
500
500
500
500
3,815
10,000 10,000 10,000
10,000
10,000
10,000
1,907
0
0
0
0
0
0
600
0
0
0
0
0
0
2,698
0
0
0
0
0
0
9
2,000
2,000
2,000
2,000
2,000
2,000
6,234
7,000
7,000
7,000
7,000
7,000
7,000
1,978
1,500
1,500
1,500
1,500
1,500
1,500
4,792
3,000
3,000
3,000
3,000
3,000
3,000
6,588
0
0
0
0
0
0
9,488
10,000 10,000 10,000
10,000
10,000
10,000
35,870
0
0
0
0
0
0
29,410
29,410 29,410 30,210
30,210
30,210
30,610
1,745,339 1,625,520 2,148,720 2,139,820 1,521,820 1,557,820 1,553,220
18
2017
Budget
61,500
100
10
115,000
3,500
19,500
0
10,000
20,000
0
0
28,000
21,500
0
0
0
8,000
0
4,000
1,000
0
85,000
0
52,000
45,000
0
2,000
53,000
5,000
30,000
600,000
400,000
0
0
0
50,000
351,500
110,000