City of Surrey's 2024 Annual Financial Report

FINANCIAL STATEMENTS

35

Audit Committee

36

Financial Management and Control

37

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

38

43 44 46 47 48 49 51

Consolidated Statement of Changes in Net Financial Assets

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Permissive Exemptions

89

STATISTICAL REVIEW

101

Population

102 102 103 103 104 104 105 105 106 106 106 107 108 108 109 109 110 110 111 111 112 112 113 114 115 116

Average Residential Tax and Utilities Bill 2024 Average Residential Tax and Utilities Bill

2024 Taxable Assessment and Taxation by Property Class Taxable Assessment and Property Tax Notice Statistics

Assessment for Taxation

Top 10 Property Tax Folios for 2024

2024 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 2024

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 2024 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 Accumulated Surplus