City of Surrey 2020-2024 Financial Plan

FINANCE

PROCUREMENT SERVICES & CONTRACT MANAGEMENT Procurement Services coordinates the procurement of high quality, cost- effective goods and services, while ensuring all relevant policies and bylaws 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 consulting services to City departments on how to identify, plan for, and manage risks in their daily business. This section provides service and expertise in the areas of risk identification and treatment, 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 Payroll, 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 staff are paid accurately and 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 accounting for the City’s subsidiaries.

2019 ACCOMPLISHMENTS

BUILT ENVIRONMENT & NEIGHBOURHOODS

• Offered budgeting process training sessions to new and existing managers; and • Completed two External Business Community Outreach Workshops.

INCLUSION

• Implemented an online application portal for residents seeking to defer their property taxes; and • Launched Dog Licensing e-Apply online.

Surrey City Hall

154