City of Surrey's 2022-2026 Financial Plan

DEPARTMENTAL OVERVIEW FINANCE

MISSION STATEMENT To provide expert advice, services and innovative solutions in the areas of Finance, Taxation, Risk Management and Audit Services to City departments and citizens, with a focus on the City’s values to provide “An Innovative Team Serving the Community with Integrity”. KEY PROGRAMS AND SERVICES The Finance Department provides financial expertise, risk management, internal audit services, advice and guidance to support all City operations. It delivers responsive services and innovative solutions to streamline processes and facilitate City-wide gains in efficiencies and internal controls. In addition to leading process improvements, it sets and maintains practices, policies and standards. The Department’s core services include:

withholdings or deductions on behalf of employees to the appropriate authorities. INTERNAL AUDIT AND COMPLIANCE Responsible for examination and evaluation of financial and non-financial processes and programs across all City departments with a view to providing an independent and objective opinion on financial processes and the control environment (comprising governance, risk management, and internal control) by evaluating their effectiveness in achieving the City's objectives. REVENUE SERVICES Responsible for the billing and collection of property taxes and billing for annual, metered and district energy utility clients.This section is also responsible for collecting fees for dog licenses, false alarms, secondary suites, and parking tickets. Revenue Services oversees Accounts Payable where their responsibilities include processing of accurate and prompt supplier payments and ensuring that the suppliers’ information is accurate and up to date in the City’s financial management system.

FINANCIAL SERVICES, INCLUDING BUDGET AND ANALYSIS Prepares the City’s operating and capital budgets and quarterly financial reports. It reviews various corporate reports for the Senior Management Team and Council. It also provides long-term financial planning and monitors and analyzes expenditure and revenue trends throughout the fiscal year and assists other departments in achieving their financial targets by providing periodic variance analysis reports, thereby ensuring that the City meets its annual budget. FINANCIAL REPORTING Responsible for preparation of annual financial statements and statutory financial reporting. This division is also responsible for presenting an annual five-year financial plan which establishes financial and programming priorities. PAYROLL Ensures that City employees receive their salaries accurately and on time, and with the correct deductions and necessary withholdings. Payroll is also responsible for remitting any

City of Surrey | 2022—2026 Financial Plan | General Operating Fund | Finance

171

Made with FlippingBook. PDF to flipbook with ease