City of Surrey 2016 Annual Report

MESSAGE FROM THE MAYOR

On behalf of City Council, it is my pleasure to present the 2016 Annual Report for the City of Surrey.

The City of Surrey continues to maintain a healthy financial status as a result of its strong commitment to transparency and accountability. Prudently managed financial procedures and control systems have ensured that our assets and interests remain secure investments, which results in sound financial stewardship, and steady delivery of city operations and service delivery.

As a growing city with over 500,000 residents, Surrey is British Columbia’s second largest metropolitan centre. A definite sign of economic confidence in Surrey is the continued strong interest in commercial and residential investment. In 2016, the value of building permits topped $1.46 billion. That number is the highest since the economic downturn of 2008 and marks the sixth year in a row Surrey has hit the billion plus dollar mark. As Surrey continues to flourish, we continue to invest back into our city with infrastructure improvements such as the full conversion of street lamps to energy efficient LED. Once completed, the LED conversion will result in $2 million in annual savings in reduced power consumption and maintenance costs. Other 2016 accomplishments include an updated Sustainability Charter, to guide city growth with a viable sustainable vision and consideration of long-term impacts. We continue to move forward in bringing Light Rail Transit (LRT) to Surrey. The 27-km network of high-quality, street-level transit infrastructure will further shape the growth of Surrey’s vibrant, accessible, and sustainable communities. I am pleased to report that our Finance & Technology Department received the Canadian Award for Financial Reporting from the Government Finance Officers Association of the United States and Canada for the nineteenth consecutive year. This commitment to steadfast financial stewardship ensures that our assets and interests remain secure investments for residents and businesses as we move into the future. City Council remains committed to ensuring that Surrey’s strong financial state is meticulously maintained, while continuing to foster a progressive, livable and sustainable city.

Sincerely,

Linda Hepner Mayor

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