City of Surrey's Annual Financial Report 2020
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2020 ANNUAL FINANCIAL REPORT
1
TABLE OF CONTENTS
2
INTRODUCTION
5
SURREY AT A GLANCE
5
MESSAGE FROM THE MAYOR
6
CITY COUNCIL & SURREY OFFICERS
7
ORGANIZATIONAL CHART
8
CANADIAN AWARD FOR FINANCIAL REPORTING
9
CITY OF SURREY OVERVIEWS
11
AWARDS
13
STRATEGIC FRAMEWORK
15
CITY MANAGER'S DEPARTMENT
17
CORPORATE SERVICES DEPARTMENT
19
ENGINEERING DEPARTMENT
21
FINANCE DEPARTMENT
23
FIRE DEPARTMENT
25
INVESTMENT & INTERGOVERNMENTAL RELATIONS DEPARTMENT
27
PARKS, RECREATION & CULTURE DEPARTMENT
29
PLANNING & DEVELOPMENT DEPARTMENT
31
POLICING TRANSITION
33
RCMP
35
SURREY PUBLIC LIBRARY
37
PERFORMANCE MEASURES
38
CITY MANAGER
40
CORPORATE SERVICES
40
ENGINEERING
41
FINANCE
42
FIRE
43
INVESTMENT & INTERGOVERNMENTAL RELATIONS
43
PARKS, RECREATION & CULTURE
44
PLANNING & DEVELOPMENT
45
POLICING TRANSITION
45
RCMP
46
SURREY PUBLIC LIBRARY
47
FINANCIAL STATEMENTS
48
AUDIT COMMITTEE
50
FINANCIAL MANAGEMENT AND CONTROL
51
REPORT FROM THE GENERAL MANAGER, FINANCE
52
CITY OF SURREY FINANCIAL STATEMENTS
55
INDEPENDENT AUDITOR'S REPORT
56
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
58
CONSOLIDATED STATEMENT OF OPERATIONS
59
CONSOLIDATED STATEMENT OF CHANGES IN NET FINANCIAL ASSETS
60
CONSOLIDATED STATEMENT OF CASH FLOWS
61
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
62
SUPPLEMENTARY FINANCIAL INFORMATION
91
PERMISSIVE EXEMPTIONS
99
STATISTICAL REVIEW
114
Population
115
Average Residential Tax and Utilities Bill
115
2020 Average Residential Tax and Utilities Bill
116
2020 Taxable Assessment and Taxation by Property Class
116
Taxable Assessment and Property Tax Notice Statistics
117
Assessment for Taxation
117
2020 Household Expenditures versus City Services
118
Building Permits
119
Construction Value of Building Permits Issued
119
Commercial and Industrial Development Approved in Surrey
119
Top 10 Employers in Surrey in 2020
120
Unemployment Rates
121
Full-Time Equivalent Employees
121
Surrey's Business Distribution by Sector
122
Consolidated Debt per Capita
122
Gross Debt Supported by Property Tax versus Total Debt
123
2020 Debt Servicing Costs Compared to General Taxation Revenue
123
Revenue Trend by Source of Revenue
124
Expenses Trend by Function
124
Net Tangible Capital Asset Acquisitions
125
Financial Statistics
125
Consolidated Revenues
126
Consolidated Expenses
127
Reserves, Committed Funds and Surplus
128
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