City of Surrey Financial Plan 2020-2024

FINANCE

 Conducted a detailed Insurance Reserve Analysis to identify ways to achieve optimum reserve balance;  Performed a detailed review of Engineering utility reserves and identify ways to achieve optimum reserve fund balances; Prepared and posted a Request for Proposal for purchase card services;

 Continued to utilize a collection agency to ensure efficient revenue collection and the reduction of bad debts;  Continued to track accounts receivable key performance indicators to better focus collection efforts; and  Amalgamated procurement agreements to gain efficiencies.

EDUCATION & CULTURE

 Continued training key staff on the financial system offering various sessions throughout the year, focusing on different areas of the system;  Completed a customer service training program with the goal of minimizing escalations to management;  Initiated corporate training sessions on best practices related to the purchasing cards (P-Cards) documentation process;  Provided training sessions to internal staff on City procurement; and  Implemented a training and education initiative to increase collaboration and knowledge sharing between departments.

INFRASTRUCTURE

 Continued to implement the Fixed Asset Module in our Financial Management System to replace the

 Continued to develop the Financial System by upgrading the processes, adding increased functionality, and continuing with overall process efficiencies.

existing system and improve efficiencies and reporting; and

CORPORATE SUSTAINABILITY

 Received the Canadian Award for Financial Reporting for the 2018 Annual Financial Report;  Received the Distinguished Budget Presentation Award for the 2019-2023 Financial Plan;  Received the Popular Annual Financial

Reporting Award for the 2018 Annual Financial Report Highlights;  Completed system evaluation to ensure that all controls and processes

in place continue to function at optimal levels in calculating and applying taxes, levies and charges correctly;

156