City of Surrey's 2025 Annual Financial Report

REPORT FROM THE GENERAL MANAGER, FINANCE CONTINUED

in Fall 2026. Council is taking concrete steps towards making sure more Surrey residents can see a family doctor when they need one by connecting families and individuals with physicians they can rely on for the long term. The clinics, accommodating up to 10 physicians each, will operate as teaching sites with SFU’s School of Medicine to help train future doctors who will live and work in our community. Council’s meaningful action on the shortage of affordable housing has resulted in over 450 units of secured, purpose-built affordable rental housing coming to the Bridgeview neighborhood. The development’s close proximity to rapid transit at the Scott Road SkyTrain station and recreation amenities at the North Surrey Sport and Ice Complex make it an ideal location. Utilizing City owned land, local developer Apcon Group will deliver 362 market rental units and 90 below-market affordable units. The development will include a child-care facility and other amenities and is slated to begin construction in mid-2026. This transformative project will significantly change the landscape of housing options in Surrey. The policing transition is ongoing and will be completed when SPS no longer requires assistance from the RCMP Surrey Provincial Operations Support Unit (comprised of RCMP members supporting SPS). The timeline for this will depend on the pace of SPS hiring, infrastructure development, and file transfers. In conclusion, I am proud to report that during the course of 2025, the City strengthened its financial position, even in light of the local, national and international challenges facing the economy. Our city is fiscally well positioned to continue delivering a high quality of service and investment in crucial capital infrastructure for our residents and businesses, in 2026 and years beyond.

Respectfully submitted,

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

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