City of Surrey 2019 Annual Financial Report

2019 Annual Financial Report1
Table of Contents2
Surrey at a Glance5
Introduction5
Message from the Mayor6
City Council & Surrey Officers7
Organizational Chart8
Canadian Award for Financial Reporting9
City of Surrey Overviews11
Awards13
City Manager’s Department15
Corporate Services Department17
Engineering Department19
Finance Department21
Fire Department23
Investment & Intergovernmental Relations Department25
Parks, Recreation & Culture Department27
Planning & Development Department29
Policing Transition Department31
RCMP33
Surrey Public Library35
Performance Measures37
City Manager38
Corporate Services39
Engineering40
Finance41
Fire42
Investment Intergovernmental Relations43
Parks, Recreation & Culture44
Planning & Development45
Policing Transition45
RCMP46
Surrey Public Library47
Financial Statements48
Report from the General Manager, Finance50
City of Surrey Financial Statements53
City of Surrey, Independent Auditor’s Report54
Consolidated Statement of Financial Position56
Consolidated Statement of Operations57
Consolidated Statement of Changes in Net Financial Assets (Debt)58
Consolidated Statement of Cash Flows59
Notes to the Consolidated Financial Statements60
Schedule 1 Tangible Capital Assets88
Supplementary Financial Information89
Permissive Exemptions97
Statistical Review110
Population111
Average Residential Tax and Utilities Bill111
2019 Average Residential Tax and Utilities Bill112
2019 Taxable Assessment and Taxation by Property Class112
Taxable Assessment and Taxation Statistics113
Assessment for Taxation113
2019 Household Expenditures versus City Services114
Building Permits115
Construction Value of Building Permits Issued115
Commercial and Industrial Development Approved in Surrey115
Top 10 Employers in Surrey in 2018116
Unemployment Rates117
Full Time Equivalent Employees117
Surrey's Business Distribution by Sector118
Consolidated Debt per Capita118
Gross Debt Supported by Property Tax Versus Total Debt119
2019 Debt Servicing Costs Compared to General Taxation Revenue119
Revenue Trend by Source of Revenue120
Expenses Trend by Function120
Net Tangible Capital Asset Acquisitions121
Financial Statistics121
Consolidated Revenues122
Consolidated Expenses123
Reserves, Committed Funds and Surplus124

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