DocumentsAppendixMar 30, 2023Page 45
Impact of 2023 Budget on Reserve Funds
Schedule showing beginning balances, contributions, transfers, capital expenditures and ending balances for multiple reserve accounts as impacted by the 2023 budget.
Key facts
- Table header: City of Langford — Impact of 2023 Budget on Reserve Funds
- Beginning total (selected): e.g., several reserve balances summing to key balances (examples shown in table)
- Balance, end of year (aggregate shown): $22,409,709 (end-of-year total reported)
Impact of 2023 Budget on Reserve Funds
| Reserve / Item | Equipment Replacem't (C) | Surplus | Capital Works and Equipment (C) | Sidewalk (C) | Infrastructure Sustainability Reserve | Parks and Open Space (C) | Parkland Improvem't (C) | General Amenity | Afford. Housing | Community Works (Gas Tax) | Firehall #4 (C) | Police Building Capital (C) | Roads DCC (C) | Storm Drain DCC (C) | Park Land DCC (OLD) (C) | Park Land DCC (NEW) (C) | Park Impr. DCC (C) | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance, beginning of year | 1,355,915 | 2,627,830 | 6,427,909 | 44,859 | 1,279,734 | 2,819,177 | 3,117 | 2,504,964 | 3,938,807 | 3,929,384 | 1,575,389 | 0 | -5,330,699 | 442,448 | 163,155 | 7,058,259 | 3,529,124 | 32,320,220 |
| Plus: Contributions from revenue | 1,500,000 | 0 | 0 | 221,794 | 70,000 | 1,791,794 | ||||||||||||
| Interest earned | 27,118 | 52,557 | 128,558 | 897 | 25,595 | 56,384 | 62 | 50,099 | 78,776 | 78,588 | 31,508 | 0 | -106,614 | 8,849 | 3,263 | 141,165 | 70,582 | 646,404 |
| Sale of property | 0 | |||||||||||||||||
| Developers' contributions | 10,000 | 50,000 | 50,000 | 2,500,000 | 70,000 | 75,000 | 2,000,000 | 250,000 | 600,000 | 1,000,000 | 6,605,000 | |||||||
| Other Contributions | 500,000 | 1,405,000 | 1,346,600 | 3,251,600 | ||||||||||||||
| Less: Contribution to Operating | 0 | -1,156,163 | -1,701,985 | -115,000 | -120,000 | -3,093,148 | ||||||||||||
| Transfer between funds | 6,150,000 | -6,150,000 | ||||||||||||||||
| Transfer to Operating for Capital costs | -1,250,000 | |||||||||||||||||
| Capital Expenditures | -2,765,053 | -5,867,000 | 0 | 0 | 0 | 0 | -1,461,500 | -3,608,210 | 0 | -70,000 | -2,587,100 | -697,000 | 0 | -1,000,000 | -2,514,000 | -20,569,863 | ||
| Balance, end of year | 117,980 | 2,024,223 | 844,467 | 55,756 | 1,305,329 | 2,925,561 | 53,179 | 2,113,372 | 3,972,583 | 1,626,362 | 1,681,897 | 0 | 125,587 | 4,297 | 166,418 | 649,424 | 2,085,707 | 20,952,007 |
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Impact of 2024 Budget on Reserve Funds
| Reserve / Item | Equipment Replacem't (C) | Surplus | Capital Works and Equipment (C) | Sidewalk (C) | Infrastructure Sustainability Reserve | Parks and Open Space (C) | Parkland Improvem't (C) | General Amenity | Afford. Housing | Community Works (Gas Tax) | Firehall #4 (C) | Police Building Capital (C) | Roads DCC (C) | Storm Drain DCC (C) | Park Land DCC (OLD) (C) | Park Land DCC (NEW) (C) | Park Impr. DCC (C) | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance, beginning of year | 117,980 | 2,024,223 | 844,467 | 55,756 | 1,305,329 | 2,925,561 | 53,179 | 2,113,372 | 3,972,583 | 1,626,362 | 1,681,897 | 0 | 125,587 | 4,297 | 166,418 | 649,424 | 2,085,707 | 19,752,142 |
| Plus: Contributions from revenue | 1,000,000 | 0 | 0 | 364,294 | 70,000 | 1,434,294 | ||||||||||||
| Interest earned | 2,360 | 40,484 | 16,889 | 1,115 | 26,107 | 58,511 | 1,064 | 42,267 | 79,452 | 32,527 | 33,638 | 0 | 2,512 | 86 | 3,328 | 12,988 | 41,714 | 395,043 |
| Sale of property | 0 | |||||||||||||||||
| Developers' contributions | 10,000 | 50,000 | 50,000 | 2,000,000 | 70,000 | 50,000 | 2,000,000 | 225,000 | 600,000 | 1,000,000 | 6,055,000 | |||||||
| Other Contributions | 500,000 | 1,405,000 | 1,346,600 | 4,556,600 | ||||||||||||||
| Less: Contribution to Operating | 0 | -441,997 | -1,701,985 | -15,388 | -120,000 | -2,279,370 | ||||||||||||
| Transfer between funds | -2,000,000 | 0 | 2,000,000 | |||||||||||||||
| Transfer to Operating for Capital costs | -1,250,000 | |||||||||||||||||
| Capital Expenditures | -209,000 | -600,000 | 0 | 0 | 0 | 0 | -550,000 | -600,000 | 0 | -70,000 | 0 | 0 | 0 | -1,000,000 | -4,475,000 | -7,504,000 | ||
| Balance, end of year | 911,340 | 2,122,711 | 416,357 | 66,871 | 1,331,435 | 3,034,072 | 104,243 | 2,267,949 | 4,106,647 | 2,285,489 | 1,765,535 | 0 | 128,099 | 229,383 | 169,746 | 262,413 | 652,421 | 22,409,709 |
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Extracted from: Agenda(47 pages total)