City of Surrey's 2025 Annual Financial Report

FINANCIAL STATEMENTS

31

Audit Committee

32

Financial Management and Control

33

Report from the General Manager, Finance

34

City of Surrey Financial Statements City of Surrey, Independent Auditor's Report Consolidated Statement of Financial Position Consolidated Statement of Operations

39

40 44 45 46 47 49

Consolidated Statement of Changes in Net Financial Assets

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Permissive Exemptions

87

STATISTICAL REVIEW

99

Population

100 100 101 101 102 102 103 103 104 104 104 105 106 106 107 107 108 108 109 109 110 110

Average Residential Tax and Utilities Bill

2025 Average Residential Tax and Utilities Bill

2025 Taxable Assessment and Taxation by Property Class Taxable Assessment and Property Tax Notice Statistics

Assessment for Taxation

Top 10 Property Tax Folios for 2025

2025 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 2025

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

2025 Debt Servicing Costs Compared to General Taxation Revenue

Revenue Trend by Source of Revenue

Expenses Trend by Function

Revenue & Expense per Capita

Net Tangible Capital Asset Acquisitions

Financial Statistics

111

Consolidated Revenues Consolidated Expenses

112 113 114

Accumulated Surplus