City of Surrey's 2024-2028 Financial Plan

ORGANIZATIONAL GOVERNANCE

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. 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. 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”).

PUBLIC ART POLICY The goal of the Public Art Policy is to ensure a sustainable funding mechanism that supports the City’s commitment to public art, serve as an act of public trust and stewardship 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. 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 PURCHASE AND PAYMENT PROCESS MANUAL This manual provides guidelines and a framework intended to assist City staff with respect to how to conduct a Competitive Procurement Process. It explains the steps in the purchasing process and ensures that applicable federal, provincial and municipal legislation is followed. CASH HANDLING PROCEDURES These procedures specify the requirements staff must meet when handling tender, from the initial point of collection through the reconciliation and deposit process.

PROCEDURES AND GUIDELINES

City of Surrey | 2024—2028 Financial Plan | Organizational Profile

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