City of Surrey's 2022-2026 Financial Plan

FINANCE

• Investigated a new digital First Aid data management system to better record injuries experienced at City facilities, to identify opportunities for prevention. The process is on-going.

ECOSYSTEMS

• Continued to provide risk management advice to the Coastal Flood Adaptation Strategy as a member of the advisory committee; • Continued to reduce the number of paper cheques being issued by the City by increasing enrollment in the direct deposit payment process; and • Under the direction of the Province of BC, implemented the new Homeowner Grant application process in collaboration with the Province.

ECONOMIC PROSPERITY & LIVELIHOODS

• All approvals granted on schedule and full external borrowing proceeds of $150.6M were received for Newton Community Centre, City Centre Sports Complex, and Cloverdale Sport and Ice Complex; • Progressed on the development of a debt utilization and management guideline as a tool to guide decision making on the usage and management of debt to fund City programs; • Continued to review property and liability insurance contracts with insurance providers to obtain competitive rates and coverages; • Continued a review of the City’s Cash Handling Policy including the guidelines for handling cardholder data and the cardholder data protection policy to ensure compliance with current best practices; • Conducted a detailed Insurance Reserve Analysis to identify ways to achieve optimum reserve balance;

• Continued to develop a capital funding

strategy to deliver community infrastructure while managing borrowing requirements;

• Assisted with the City’s transition to a new mobile carrier to achieve financial and technological efficiencies; • Implemented Financial System reporting to monitor prevalence of online payment remittance for accounts receivable invoices; and • Completed a Request for Proposals (“RFP”) and awarded a contract to a collection agency to ensure efficient revenue collection and the reduction

of bad debts.

Property & Payment Services on first floor of City Hall

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

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