City of Surrey 2020-2024 Financial Plan

FINANCE

• Ensured that all financial transactions and reporting met appropriate statutory requirements; • Implemented a standardized application intake and assessment process to support the Council Initiatives Fund Utilization Policy; • Integrated the City’s capital budget management and reporting with the City’s financial management system; and • Implemented a financial dashboard for the Parks, Recreation and Culture Department.

FUTURE INITIATIVES, GOALS & OBJECTIVES

BUILT ENVIRONMENT & NEIGHBOURHOODS

• Explore social media opportunities to communicate with residents, resulting in better customer service for our taxpayers.

ECONOMIC PROSPERITY & LIVELIHOODS

• Continue to manage the City’s investment portfolio to maximize yield while maintaining safety and liquidity of investments; • Review Enterprise Risk Management (ERM) best practices to ensure that the City is proactively managing its portfolio of risks; • Continue to critically review budget templates to achieve standardization, consistency and accuracy of budget related information; • Support and conduct research for the Mayor’s Innovative Revenue Task

Force with a primary goal of identifying innovative funding sources; and • Work with Metro Vancouver's Regional Financial Advisory Committee ("RFAC") to establish a commercial sub-class in the Assessment Act and permit splitting of future development potential from the existing use value.

ECOSYSTEMS

• Continue to encourage suppliers to convert from paper cheques to electronic payments.

Award Winning 2019—2023 Financial Plan

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