2018 Annual Financial Report

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2018 Annual Financial Report1
Table of Contents2
Introduction4
Message from the Mayor4
City Council & Surrey Officers4
Organizational Chart6
Canadian Award for Financial Reporting6
City of Surrey Overviews8
Awards10
City Manager's Department12
Corporate Services Department14
Engineering Department16
Finance Department18
Fire Department20
Investment & Intergovernmental Relations Department22
Parks, Recreation & Culture Department24
Planning & Development Department26
Policing Transition Department28
RCMP30
Surrey Public Library32
Performance Measures34
City Manager36
Corporate Services36
Engineering38
Finance38
Fire40
Investment & Intergovernmental Relations40
Parks, Recreation & Culture42
Planning & Development42
Policing Transition42
RCMP44
Surrey Public Library44
Financial Statements46
Report from the General Manager, Finance48
City of Surrey Financial Statements50
City of Surrey, Independent Auditor's Report52
Consolidated Statement of Financial Position54
Consolidated Statement of Operations54
Consolidated Statement of Changes in Net Financial Assets (Debt)56
Consolidated Statement of Cash Flows56
Notes to the Consolidated Financial Statements58
Schedule 1 Tangible Capital Assets86
Supplementary Financial Information86
Surrey Public Library Financial Statements94
Surrey Public Library, Independent Auditor's Report96
Statement of Financial Position98
Statement of Operations98
Statement of Changes in Net Debt100
Statement of Cash Flows100
Notes to the Financial Statements102
Supplementary Financial Information108
Permissive Exemptions110
Statistical Review130
Population130
Average Residential Tax and Utilities Bill130
2018 Average Residential Tax and Utilities Bill132
2018 Taxable Assessment and Taxation by Property Class132
Taxable Assessment and Taxation Statistics132
Assessment for Taxation132
2018 Household Expenditures versus City Services134
Building Permits134
Construction Vvalue of Building Permits Issued134
Commercial and Industrial Development Approved in Surrey134
Top 10 Employers in Surrey in 2018136
Unemployment Rates136
Full Time Equivalent Employees136
Surrey's Business Distribution by Sector138
Consolidated Debt per Capita138
Gross Debt Supported by Property Tax versus Total Debt138
2018 Debt Servicing Costs Compared to General Taxation Revenue138
Revenue Trend by Source of Revenue140
Expenses Trend by Function140
Net Tangible Capital Asset Acquisitions140
Financial Statistics140
Consolidated Revenues142
Consolidated Expenses142
Reserves, Committed Funds and Surplus144

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