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Organizational Governance
2017-2021 FINANCIAL PLAN
PUBLIC ART POLICY
The goal of the Public Art Policy is to
ensure a sustainable funding mechanism
that supports the City’s commitment to
spend existing and future funds more
creatively, serve as an act of public trust
and a steward for public art, guide City
staff in implementing the Public Art
Program, and make public art a catalyst
for creativity in Surrey’s diverse
community.
RESERVE AND SURPLUS POLICY
This policy directs the establishment and
maintenance of reserves, unappropriated
surplus, and appropriation of surplus, as
well as the use of reserves and
appropriations of surplus in meeting the
short and long-term financial goals of the
City. The policy states guiding principles,
objectives, criteria, and procedures,
including allowable minimum and
maximum reserve and surplus balances.
TAX EXEMPTION POLICY
This policy provides guidance to Council
in the processing of applications for
exemption from property taxes. Though
the Community Charter states that
exemptions are at the discretion of
Council, this policy establishes principles
which serve as a guide in the evaluation
of applicants.
PROCEDURES AND GUIDELINES
CASH HANDLING PROCEDURE
This policy specifies the requirements
staff must meet when handling tender,
from the initial point of collection through
the reconciliation and the deposit process.
PROCUREMENT PROCEDURE MANUAL
This document details the process that the
City is required to follow when
completing purchases and ensures
applicable Federal, Provincial and
Municipal legislation is followed. It
explains the purchase flow and the
requirements for making purchases on
behalf of the City, including when to
conduct a public competitive solicitation
process.
REPLACEMENT RESERVE FUND
PROCEDURE
The Replacement Reserve Fund guideline
helps to make sufficient reserves available
to replace the City’s extensive inventory
of buildings and equipment.
The City makes annual appropriations to
the Replacement Reserve Fund to provide
necessary funding and reviews the fund,
to ensure that funding levels increase
over time.
TANGIBLE CAPITAL ASSET PROCEDURE
Tangible Capital Assets are non-financial
assets having physical substance that are
acquired, constructed, or developed and
are held for use in the production or
supply of goods and services, have useful
lives extending beyond an accounting
period, are intended to be used on a
continuing basis; and are not intended for
sale in the ordinary course of operations.
The City of Surrey is required to report
tangible capital assets on their financial
statements in accordance with guidelines
set by the Public Sector Accounting Board
(“PSAB”).
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