Financial Plan for 2015-2019 Bylaw

ertified True Copy 
Linda Kaercher 
Deputy Clerk 
CITY OF LANGFORD 
BYLAW NO. 1565 
A BYLAW TO ADOPT A FINANCIAL PLAN FOR 2015 — 2019 
WHEREAS under the Community Charter the municipality must have a financial plan adopted by bylaw before 
the annual property tax bylaw is adopted; 
AND WHEREAS through a public process the financial plan has been presented and the public has had an 
opportunity to comment 
AND WHEREAS Council deems this to be a process of public consultation as required by the Community 
Charter, 
NOW THEREFORE the Council of the City of Langford, in open meeting assembled, enacts as follows: 
1. Schedule "A" attached hereto and forming part of this bylaw comprises the City of Langford 
Consolidated Five Year Financial Plan for 2015 — 2019 
2. Schedule "B" attached hereto and forming part of this bylaw comprises the City of Langford Revenue 
and Property Tax Policy Disclosure. 
3. This bylaw may be cited for all purposes as "City of Langford 2015-2019 Financial Plan Bylaw No. 1565, 
2015". 
READ A FIRST TIME this 20th day of April, 2015. 
READ A SECOND TIME this 20th day of April, 2015. 
READ A THIRD TIME this 20th day of April, 2015. 
ADOPTED this 4th day of May, 2015. 
(Certified Correct) 
CORPORATE OFFICER 

Bylaw No. 1565 
Page 2 of 4 
Schedule "A" 
Bylaw No. 1565 
Consolidated Financial Plan 2015-2019 
2015 
2016 
2017 
2018 
2019 
REVENUES: 
External Revenues 
Development Fees 
Development Cost Charges 
$ 5,901,200 $ 1,477,500 $ 1,813,000 
$ 2,792,400 $ 2,889,800 
Developer Contributions 
- 
- 
- 
Other Capital Contributions 
2,500,000 
- 
- 
Development Fees Total 
8,401,200 
1,477,500 
1,813,000 
2,792,400 
2,889,800 
Municipal Property Taxes 
23 967,000 
25,772,900 
27,547,100 
29,580,100 
31,179,000 
Parcel Taxes 
1,629,400 
1,705,300 
1,761,300 
1,726,300 
1,790,000 
Fees and Charges 
5,591,600 
5,709,600 
5,987,600 
6,371,100 
6,536,700 
Interest 
433,000 
441,000 
454,000 
463,000 
471,000 
Grants From Other Governments 
13,246,100 
8,602,800 
6,323,300 
1,515,100 
1,577,700 
Other Sources 
1,387,800 
2,222,400 
2,077,000 
2,281,600 
2,351,200 
Total External Revenues 
54,656,100 
45,931,500 
45,963,300 
44,729,600 
46,795,400 
EXPENDITURES: 
External Expenditures 
Operating Expenditures 
29,472,000 
30,813,900 
32,036,000 
33,148,700 
34,387,300 
Interest Payments on Debt 
1,000,100 
1,083,100 
1,088,800 
1,600,300 
1,650,800 
Capital Expenditures 
37,649,600 
18,755,000 
12,583,200 
6,005,200 
7,253,200 
Total External Expenditures 
68,121,700 
50,652,000 
45,708,000 
40,754,200 
43,291,300 
CHANGE IN NET FINANCIAL POSITION 
(13,465,600) 
(4,720,500) 
255,300 
3,975,400 
3,504,100 
OTHER REVENUES: 
Borrowing Proceeds 
8,721,700 
5,075,800 
2,904,800 
657,800 
918,300 
OTHER EXPENDITURES: 
Principal Payments on Debt 
2,477,100 
2 627 300 
2,677,800 
2,827,600 
2,337,700 
TOTAL REVENUES LESS EXPENDITURES 
-$ 7,221,000 -$2,272,000 $ 	
482,300 $ 1,805,600 $ 2,084,700 
INTERNAL TRANSFERS: 
Transfer from Reserve Funds 
Affordable Housing 
213,600 
14,000 
14,400 
14,800 
15,200 
Capital Works & Equipment 
$ 2,561,500 $ 2,600,000 
$ 	
902,500 $ 1,675,500 $ 1,800,000 
Equipment Replacement 
882,300 
342,000 
203,300 
40,000 
60,000 
Parks & Open Space 
1,200,000 
700,000 
- 
Park Improvement 
50,000 
- 
175,000 
- 
500,000 
Sidewalk Capital 
80,000 
150,000 
150,000 
150,000 
150,000 
Police Building Capital 
5,600 
5,600 
5,600 
135,000 
- 
General Amenity 
1,753,600 
733,300 
1,012,900 
463,300 
813,700 
Transfer from Reserve Fund Total 
6,746,600 
4,544,900 
2,463,700 
2,478,600 
3,338,900 
Less. Transfer to Reserve and Capital Funds 
Reserves: 
Police Building Capital 
13,400 
18,100 
20,000 
16,000 
12,000 
Capital Works & Equipment 
2,316,900 
1,330,600 
1,365,600 
2,095,800 
2,205,000 
Equipment Replacement 
500,000 
600,000 
750,000 
750,000 
750,000 
Infrastructure Sustainability 
- 
- 
792,000 
1,735,000 
General Amenity 
220,000 
General Capital Fund 
125,000 
125,000 
125,000 
125,000 
125,000 
3,175,300 
2,073,700 
2,260,600 
3,778,800 
4,827,000 
Transfers from (to) Surplus 
1,920,400 
400,000 
200,000 
200,000 
200,000 
Transfers from (to) Reserve Accounts 
1,729,300 
(599,200) 
(885,400) 
(705,400) 
(796,600) 
TOTAL INTERNAL TRANSFERS 
$ 7,221,000 $ 2,272,000 -$ 	
482,300 -$ 1,805,600 -$ 2,084,700 
, 

Bylaw No. 1565 
Page 3 of 4 
Schedule "B" 
Bylaw No. 1565 
Revenue and Property Tax Policy Disclosure 
REVENUE DISCLOSURE 
Revenue Proportions 
2015 
2016 
2017 
2018 
2019 
($'000s) 
% 
($'000s) 
% 
($'000s) 
% 
($'000s) 
% 
($'000s) 
% 
Property Taxes 
23,967 
38% 
25,773 
51% 
27,547 
56% 
29,580 
64% 
31,179 
65% 
Parcel Charges 
1,629 
3% 
1,705 
3% 
1,761 
4% 
1,726 
4% 
1,790 
4% 
Fees 
5,592 
9% 
5,710 
11% 
5,988 
12% 
6,371 
14% 
6,537 
14% 
Other Sources 
23,468 
36% 
12,745 
25% 
10,667 
22% 
7,051 
17% 
7,290 
15% 
Proceeds From 
Borrowing 
8,722 
14% 
5,076 
10% 
2,905 
6% 
658 
1% 
918 
2% 
63,378 100% 
51,009 1100% 
48,868 100% 
45,386 1100% 
47,714 100% 
Other Sources includes grants from other governments and agencies, development contributions to capital interest and penalties and 
miscellaneous sales of services. 
Objectives and Policies 
Property tax revenue is the City's primary revenue source, and one which is heavily reliant on 
the residential class. Diversification of the tax base and generation of non-tax revenue are 
ongoing objectives. Except in extraordinary circumstances, tax increases are kept to cost of 
living or less. 
Parcel Charges are comprised of local area service debt servicing costs for roads. 
Fees & Charges are a tool used for cost recovery. Various fees are reviewed every 1-5 years to 
ensure that they are adequate to recover costs of providing specific services. 
Other Sources will vary greatly from year to year as it includes such items as: 
• Development cost charges used to fund DCC capital projects, 
• Contributions from others for capital, 
• Interest earned on funds invested in accordance with the City's investment policy, 
• Grants, which are sought from other governments and government agencies, often to be 
leveraged with City funds, 
• Casino revenue sharing income. 
Proceeds from Borrowing — Debt is used where it makes sense such as for urgent projects or to 
leverage grants where internal funding is not available. Caution is necessary when considering 
debt as it commits future cash flows to debt payments, restricting the ability to use those funds 
to provide other services. The source of the debt payments needs to be considered as does the 
justification for advancing the project 

Bylaw No. 1565 
Page 4 of 4 
Schedule "B" Continued 
Revenue and Property Tax Disclosure 
PROPERTY TAX DISCLOSURE 
Property Tax Revenue Distribution 
The table below presents tax revenue and tax rates based on the 2015 Revised Assessment 
Roll: 
Property Tax Distribution 	
I 	
I 
I 
I 
Property Class 
Taxation R&ienue 
Net Taxable Assessed 
Value 
Tax Rate 
Multiple 
($'000s) 
% 
($'000s) 
% 
($/1000) (Ra e/Res. Rate) 
1. Residential 
14,249 
60.7% 
4,900,688 
82.32% 
2.9076 
1.00 
2. Utility 
140 
0.6% 
6,504 
0.11% 
21.5162 
7.40 
3. Supportive Housing 
- 
0.0% 
0.00% 
2.9076 
1.00 
4. Heavy Industry 
- 
0.0% 
- 
0.00% 
9.3334 
3.21 
5. Light Industry 
248 
1.1% 
26,591 
0.45% 
9.3334 
3.21 
6. Business/Other 
8,800 
37.4% 
1,008,844 
16.94% 
8.7228 
3.00 
7. Managed Forest 
- 
0.0% 
96 
0.00% 
2.9076 
1.00 
8. Rec./Non-Profit 
38 
0.2% 
10,980 
0.18% 
3.5037 
1.21 
9. Farm 
- 
0.0% 
133 
0.00% 
2.9076 
1.00 
23,475 
5,953,836 
Objectives and Policies 
Council sets tax rates to maintain tax stability between property classes. Property class multiples are 
reviewed periodically to ensure that the burden of tax among property classes is not distorted by 
differing market value changes between classes. 
Permissive Tax Exemptions 
Policy with respect to permissive tax exemptions under section 224 of the Community Charter is that 
exemption will be considered where the organization has demonstrated proof of community access to 
citizens of Langford at a nominal charge and community benefit in the previous year. 
Council supports the establishment of assisted living seniors' housing in Langford and has granted 10-
year exemptions to two such developments. 
Council has established a revitalization tax exemption program under section 226 of the 
Community Charter which grants a five-year or 10-year exemption for eligible buildings. An 
exemption certificate was issued for one property in 2011 for which the exemption expires in 2021