2016-2020_Financial_Plan_Web

Organizational Governance

TANGIBLE CAPITAL ASSET PROCEDURE Tangible Capital Assets are non-financial assets having physical substance that are acquired, constructed, or developed and are held for use in the production or supply of goods and services, have useful lives extending beyond an accounting period, are intended to be used on a continuing basis; and are not intended for sale in the ordinary course of operations. BIODIVERSITY CONSERVATION STRATEGY The Biodiversity Conservation Strategy (BCS), adopted in 2014 as part of Corporate Report R141, recognizes Surrey’s biodiversity as a key foundation of a healthy, livable and sustainable City. The goal of the Strategy is to preserve, protect, and enhance Surrey’s biodiversity in the long-term. BUILD SURREY PLAN The Build Surrey program of capital projects has been developed to position the City of Surrey for a prosperous future. The projects outlined will accelerate the transformation of the downtown core, create BC’s next metropolitan centre and ensure the ongoing development of major areas in Surrey. EMPLOYMENT LANDS STRATEGY The City of Surrey has developed the Employment Lands Strategy to ensure that there is an adequate and well-located supply of employment lands, for the short and long term. The strategy works toward attracting and retaining business investment in the community to keep Surrey competitive.

The City of Surrey is required to report tangible capital assets on their financial statements in accordance with guidelines set by the Public Sector Accounting Board (PSAB).

PLANS & STRATEGIES

OFFICIAL COMMUNITY PLAN The Official Community Plan (OCP) is a statement of objectives and policies to guide City planning decisions over the next 30 years. Taking a comprehensive and long-term perspective, the Plan provides guidance for the physical structure of the City, land use management, economic and residential growth, transportation systems, community development, provision of City services and amenities, agricultural land use, environmental protection, and enhanced social well-being. The OCP is adopted by City Council as a City by-law. On an annual basis, the Official Community Plan is reviewed to ensure that it contains relevant information and fully considers the City’s evolving nature. The last version incorporated a stronger focus on residential, commercial and industrial land capacity and development, while continuing to emphasize the monitoring and integration of long-term economic development planning. The last version also aligned the goals and objectives of the City’s subordinate master plans with the goals and directions of the Official Community Plan.

2016-2020 FINANCIAL PLAN

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