City of Surrey's 2025 Annual Financial Report

CITY OF SURREY OVERVIEWS FINANCE DEPARTMENT

To provide expert advice, services and innovative solutions in the areas of Financial Management and Reporting, Taxation, Procurement, and Internal Audit Services with a focus on the City’s values to provide “An Innovative Team Serving the Community with Integrity”.

FINANCIAL PLANNING & ANALYSIS Prepares the City’s operating and capital budgets and quarterly financial reports. This division reviews various corporate reports for the Senior Management Team and Council. It also monitors and analyzes expenditures and revenue trends throughout the fiscal year and provides long-term financial planning. In addition, it provides assistance to other departments in achieving their financial targets by providing periodic variance analysis reports, thereby ensuring the City meets its annual budget. FINANCIAL REPORTING Responsible for the preparation of annual audited financial statements and statutory financial reporting. This division is also responsible for compiling an annual Five-Year Financial Plan which establishes financial and programming priorities. PROPERTY & PAYMENT SERVICES Responsible for the billing and collection of property taxes and related charges, annual and metered utilities, and district energy utility fees. The team also processes payments for dog licenses and secondary suites. In addition, they staff the City Hall welcome desk and provide front-counter payment services, including at the City’s Operations Centre. INTERNAL AUDIT & COMPLIANCE Responsible for examination and evaluation of financial and non financial processes and programs across all City departments with the purpose of providing an independent and objective opinion on processes and the control environment (comprising governance, risk management, and internal control) by evaluating their effectiveness in achieving City objectives.

PROCUREMENT SERVICES & PAYABLES Coordinates the procurement of high quality, cost-effective goods and services, while ensuring all City polices are followed and best practices implemented. It provides professional expertise in the areas of Purchasing, Supply Chain Management and Contract Administration. Accounts Payable processes invoices and issues payments to suppliers for goods and services purchased by the City. TREASURY SERVICES Responsible for treasury functions including investments, accounts receivable, banking and electronic payment processing, bank reconciliations, and surety management. This section monitors and forecasts cashflows and invests funds in a prudent manner, providing investment returns and long-term security while meeting daily operational liquidity needs. This section is responsible for the City’s relationship with its financial institution, credit/debit card payment processor and collection agency. FINANCIAL SYSTEMS Responsible for maintaining, troubleshooting, and optimizing financial systems to support accounting, reporting, and transaction processing. Key duties include user support, system configuration, data integrity monitoring, and resolving integration issues. This section also coordinates with internal departments and vendors for system updates and enhancements. PAYROLL Responsible for ensuring all City employees are paid accurately and on time, with correct deductions and withholdings. The team also prepares annual T4s and submits all required payroll documents and remittances to the Canada Revenue Agency and other authorities.

2025 ACCOMPLISHMENTS • Reduced the number of paper cheques issued by the City by nearly 50% through increased enrollment for electronic fund transfers, thus reducing paper waste and the carbon impacts of mail delivery

• Increased submission of digital invoices to the Accounts Payable section with an average growth rate of 8.9% over the last 3 years, reducing paper usage and the need for physical storage, saving both trees and energy

• Supported City subsidiaries, Surrey City Development Corporation (“SCDC”) and Surrey Homelessness and Housing Society ("SHHS"), in meeting their strategic organizational objectives and undertaking critical projects to fulfill their mandates • Automated the manual and time-consuming process for the digital intake and sorting of Accounts Payable invoices, saving significant working hours, leading to enhanced efficiency and repositioning of resources towards value-added tasks

• Worked with Surrey Police Service to implement a process for the ongoing consolidation of financial information between the entities

• Continued to develop the Financial Management System by upgrading

processes, adding increased functionality, and continuing with efficiency-enhancing initiatives

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