City of Surrey 2017 - 2021 Financial Plan

DEPARTMENTAL OVERVIEW FINANCE &TECHNOLOGY

MISSION STATEMENT

To provide expert advice, services and innovative solutions in the areas of Finance, Taxation, Risk Management, Audit Services and Information Technology to City departments and citizens, focusing on the City’s values to provide “An Innovative Team Serving the Community with Integrity”.

KEY PROGRAMS AND SERVICES

The Finance & Technology Department provides financial expertise, risk management, internal audit services, information technology services, advice and guidance to support all City operations. The Department provides responsive services and innovative solutions required to streamline City processes, facilitating gains in efficiencies. The Department leads process improvements and maintains as well as sets, financial and information technology practices, policies and standards. The Department’s core services include:

FINANCIAL SERVICES Financial Services includes payroll, investments, treasury, cash management, accounts payable, and taxation. Staff calculate, levy, and collect property taxes, water and sewer billing and other payments, to ensure completeness and accuracy. They monitor cash flow and invest funds for maximum return while minimizing risk and adhering to the City’s investment policy. Staff also ensures that all staff are paid correctly on a bi-weekly basis and that external vendor invoices are paid in a timely and cost effective manner.

FINANCIAL REPORTING Financial Reporting includes long-term financial planning, annual budget development, accounting, procurement and statutory financial reporting; responsible for presenting an annual five- year financial plan which establishes financial and programming priorities. The Financial Reporting Division also keeps management and Council informed about the City’s financial performance on a quarterly basis, ensuring the City meets its annual budget and targeted savings. In addition, this Division coordinates the ensuring all polices are followed and best practices implemented. The Procurement section follows applicable legislation and ensures appropriate public and competitive processes are applied. procurement of high quality, cost- effective goods and services, while

2017-2021 FINANCIAL PLAN

129