City of Surrey's Annual Financial Report 2020

2020 ANNUAL FINANCIAL REPORT1
TABLE OF CONTENTS2
INTRODUCTION5
SURREY AT A GLANCE5
MESSAGE FROM THE MAYOR6
CITY COUNCIL & SURREY OFFICERS7
ORGANIZATIONAL CHART8
CANADIAN AWARD FOR FINANCIAL REPORTING9
CITY OF SURREY OVERVIEWS11
AWARDS13
STRATEGIC FRAMEWORK15
CITY MANAGER'S DEPARTMENT17
CORPORATE SERVICES DEPARTMENT19
ENGINEERING DEPARTMENT21
FINANCE DEPARTMENT23
FIRE DEPARTMENT25
INVESTMENT & INTERGOVERNMENTAL RELATIONS DEPARTMENT27
PARKS, RECREATION & CULTURE DEPARTMENT29
PLANNING & DEVELOPMENT DEPARTMENT31
POLICING TRANSITION33
RCMP35
SURREY PUBLIC LIBRARY37
PERFORMANCE MEASURES38
CITY MANAGER40
CORPORATE SERVICES40
ENGINEERING41
FINANCE42
FIRE43
INVESTMENT & INTERGOVERNMENTAL RELATIONS43
PARKS, RECREATION & CULTURE44
PLANNING & DEVELOPMENT45
POLICING TRANSITION45
RCMP46
SURREY PUBLIC LIBRARY47
FINANCIAL STATEMENTS48
AUDIT COMMITTEE50
FINANCIAL MANAGEMENT AND CONTROL51
REPORT FROM THE GENERAL MANAGER, FINANCE52
CITY OF SURREY FINANCIAL STATEMENTS55
INDEPENDENT AUDITOR'S REPORT56
CONSOLIDATED STATEMENT OF FINANCIAL POSITION58
CONSOLIDATED STATEMENT OF OPERATIONS59
CONSOLIDATED STATEMENT OF CHANGES IN NET FINANCIAL ASSETS60
CONSOLIDATED STATEMENT OF CASH FLOWS61
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS62
SUPPLEMENTARY FINANCIAL INFORMATION91
PERMISSIVE EXEMPTIONS99
STATISTICAL REVIEW114
Population115
Average Residential Tax and Utilities Bill115
2020 Average Residential Tax and Utilities Bill116
2020 Taxable Assessment and Taxation by Property Class116
Taxable Assessment and Property Tax Notice Statistics117
Assessment for Taxation117
2020 Household Expenditures versus City Services118
Building Permits119
Construction Value of Building Permits Issued119
Commercial and Industrial Development Approved in Surrey119
Top 10 Employers in Surrey in 2020120
Unemployment Rates121
Full-Time Equivalent Employees121
Surrey's Business Distribution by Sector122
Consolidated Debt per Capita122
Gross Debt Supported by Property Tax versus Total Debt123
2020 Debt Servicing Costs Compared to General Taxation Revenue123
Revenue Trend by Source of Revenue124
Expenses Trend by Function124
Net Tangible Capital Asset Acquisitions125
Financial Statistics125
Consolidated Revenues126
Consolidated Expenses127
Reserves, Committed Funds and Surplus128

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