COS Financial Plan 2018 - 2022

FINANCE

PROCUREMENT SERVICES Procurement Services coordinates the purchasing of high quality, cost-effective goods and services, while ensuring all polices are followed and best practices implemented. The Procurement Services section follows applicable legislation and ensures appropriate public and competitive processes are applied. RISK MANAGEMENT SERVICES Risk Management provides service and expertise in risk management, insurance, claims, litigation and loss control. By incorporating effective Risk Management practices, the City is able to identify, manage and reduce the overall cost of risk.

TREASURY OPERATIONS Treasury Operations includes Accounts Payable, Tangible Capital Assets, Accounts Receivable, Investments, Letters of Credit and Banking and Payment processing. Staff monitor cash flow and invest funds for maximum return while minimizing risk and adhering to the City’s Investment Policy. They ensure that supplier invoices are paid in a timely manner and also oversee billing and prompt collection of receivables. This group is responsible for the City’s relationship with its financial institution and credit/debit card payment processor and also assists City departments in obtaining securities by way of Letters of Credit. Treasury Operations oversees the recording and financial reporting for the City’s vast inventory of capital assets and is responsible for consolidation

2017 ACCOMPLISHMENTS

INCLUSION

 Provided superior customer service and expert advice to internal and external customers along with assistance and financial advice to Surrey associations and non- profit organizations.

BUILT ENVIRONMENT & NEIGHBOURHOODS

 Offered budgeting process training sessions to new and existing managers;  Improved utility billing process by creating new reports to capture updated client information;

 Provided leadership to the Request for Proposal process that led to the appointment of the external auditors; and  Provided recommendations to improve the City’s contract management process.

the future lives here.

2018-2022 Financial Plan

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