DocumentsStaff ReportApr 3, 2023Page 45
Impact of 2023 Budget on Reserve Funds
Schedule showing beginning balances, contributions, expenditures and projected end-of-year balances for reserves as impacted by the 2023 budget.
Key facts
- Reserve balances – beginning of year totals shown (example: General Amenity, Equipment Replacement, Parkland DCCs, Roads DCC, etc.)
- End of year total balance (2023) reported: $22,409,709
- Shows contributions from revenue, developer contributions, transfers, capital expenditures and other movements for 2023
Impact of 2023 Budget on Reserve Funds
City of Langford
| 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 |
| 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 |
| 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: Contibution 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 |
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Impact of 2024 Budget on Reserve Funds
City of Langford
| 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 |
| 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 |
| 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: Contibution 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 |
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Extracted from: Agenda(47 pages total)