2016-2020_Financial_Plan_Web

Organizational Governance

RESERVE AND SURPLUS POLICY This policy directs the establishment and maintenance of reserves, unappropriated surplus, and appropriation of surplus, as well as the use of reserves and appropriations of surplus in meeting the short and long-term financial goals of the City. The policy states guiding principles, objectives, criteria, and procedures, including allowable minimum and maximum reserve and surplus balances. TAX EXEMPTION POLICY This policy provides guidance to Council in the processing of applications for exemption from property taxes. Though the Community Charter states that exemptions are at the discretion of Council, this policy establishes principles which serve as a guide in the evaluation of applicants. PROCUREMENT PROCEDURE MANUAL This document details the process that the City is required to follow when completing purchases and ensures applicable Federal, Provincial and Municipal legislation is followed. It explains the purchase flow and the requirements for making purchases on behalf of the City, including when to conduct a public competitive solicitation process.

MUNICIPAL GRANTS POLICY This policy specifies that the City will establish ongoing grants from year to year, as well as grants for one-time requests; what types of initiatives/ organizations are generally eligible for grants; what types of costs, grants can and cannot cover; and official procedures for processing grant requests, grant appeals and late grant applications, as well as setting the grant budget. ensure a sustainable funding mechanism that supports the City’s commitment to spend existing and future funds more creatively, serve as an act of public trust and a steward for public art, guide City staff in implementing the Public Art Program, and make public art a catalyst for creativity in Surrey’s diverse community. CASH HANDLING PROCEDURE This policy specifies the requirements staff must meet when handling tender, from the initial point of collection through the reconciliation and the deposit process. PUBLIC ART POLICY The goal of the Public Art Policy is to The Replacement Reserve Fund guideline helps to make sufficient reserves available to replace the City’s extensive inventory of buildings and equipment. The City makes annual appropriations to the Replacement Reserve Fund to provide necessary funding and reviews the fund, to ensure that funding levels increase over time. REPLACEMENT RESERVE FUND PROCEDURE

PROCEDURES AND GUIDELINES

2016-2020 FINANCIAL PLAN

39