City of Surrey's 2023 Annual Financial Report

The City’s efforts to streamline, simplify and expedite processes will better serve the community and ultimately, accelerate the delivery of new homes in Surrey. The City is undertaking signifcant capital investments to enhance the thriving landscape of Surrey by providing citizens with access to safe, inviting, high quality facilities, programs and services. The 2024-2028 General Capital Program represents the most signifcant fnancial commitment in the City’s history, with over $715.9 million allocated over the next fve years. The new Newton Community Centre will enhance recreation, culture, and library services to the growing Newton community. With a budget of $310.6 million, this state-of-the-art facility will be the largest community centre in the City at approximately 190,000 sq. ft. It will include a 45,000 sq. ft. library, 50-meter swimming pool, gymnasiums, ftness centre, child-care, dedicated arts spaces and other amenities to meet the needs of the City’s diverse community. The City is committed to ensuring suffcient funding for adequate and effective policing in Surrey, with the 2024 Police Operations budget representing the most signifcant funding investment in ongoing Policing Operations in the City’s history. During the course of 2023, the City strengthened its fnancial position and is well poised to continue delivering a high quality of service to our residents and businesses in 2024 and years beyond.

Respectfully submitted,

Kam Grewal, BBA, CPA, CMA CFO/General Manager, Finance

45