City of Surrey's 2023 Annual Financial Report

FINANCIAL STATEMENTS

39

Audit Committee

40

Financial Management and Control

41

Report from the General Manager, Finance City of Surrey Financial Statements City of Surrey, Independent Auditor’s Report Consolidated Statement of Financial Position Consolidated Statement of Operations

42

47 48 50 51 52 53 55

Consolidated Statement of Changes in Net Financial Assets

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Permissive Exemptions

93

STATISTICAL REVIEW

105

Population

106 106 107 107 108 108 109 110 110 110 111 112 112 113 113 114 114 115 115 116 116 117 118 119 120

Average Residential Tax and Utilities Bill 2023 Average Residential Tax and Utilities Bill

2023 Taxable Assessment and Taxation by Property Class Taxable Assessment and Property Tax Notice Statistics

Assessment for Taxation

2023 Household Expenditures versus City Services

Number of Building Permits Issued

Construction Value of Building Permits Issued

Commercial and Industrial Development Approved in Surrey

Top 10 Employers in Surrey in 2022

Unemployment Rates

Full-time Equivalent Employees

Surrey's Business Distribution by Sector

Consolidated Debt per Capita

Gross Debt Supported by Property Tax Versus Total Debt 2023 Debt Servicing Costs Compared to General Taxation Revenue

Revenue Trend by Source of Revenue

Expenses Trend by Function

Revenue & Expenditure per Capita Net Tangible Capital Asset Acquisitions

Financial Statistics

Consolidated Revenues Consolidated Expenses

Reserves, Committed Funds and Surplus