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The above trends are documented and discussed in the Year 2000 Program
report. Substantial increases in park visitation clearly indicate that the park
system is benefiting more people each year. High demand for group facilities
and bookings is well documented; existing facilities are unable to accommodate
approximately 20% of raquests. The growing interest in major events is alse
evident, and many of these cannot easily be accommodated in municipal parks.
The most significant point is that visitation has so iar grown as rapidly as
projected. ‘Costs, however, in 1991 are about 8% less than Year e000 Plan
projects; 1997 project and costs are about 14% less than Year 2000 Plan

estimates. . .

Both these functions are allotted slightly better than 4% increases annually to
reflect park system growth.

Schedule 1 projects the impact of the capital expenditure program on the GVRD
parks operating budget for tha seven-year period in 1991 dollars. The

projection is based on the following assumptions.

1. New debenture funding will be through the M.F.A. at Interest rates of 10% in
1991 through 1997 and amortized over a term of 20 ysars. Should interest
rates and market conditions differ from the assumptions, the debt charges

would vary from those projected.

Regional Parks will debt finance major development projects and land
acquisition. Debt incurred in.1972 and 1975 for land purchase will be
retired In 1992, 1995 and 1996 accounting for reductions in debt charges

shown In Schedule 1 for these years.

Revenue is also generated from sources other than members’ tax
requisitions. Fees and charges, building rentais and concession revenue
are credited as a recovery against the operating budget of each park. Funds
through grants and other contributions are earmarked for specific projects or
programs, and neither these revenues nor expenditures are included In this

plan. :