2018-2022 Financial Plan

CFS – FINANCE

Services Provided The Finance Department serves as business advisors to the organization, developing innovative solutions to achieve the City’s financial and business objectives. Through cooperative interaction with customers & staff we support the administrative and fiscal needs of the City within a framework that ensures sound fiscal governance. We support Council’s open government initiative through the provision of reports that enables Council to review and monitor city finances and through our involvement with Council’s public input sessions Specific functions include preparing and monitoring the Five-Year Consolidated Financial Plan and the Annual Consolidated Financial Statements, preparing and interpreting interim financial statements, levying and collecting City taxes and utility fees, processing accounts payable and receivable, developing and maintaining financial systems, investing and safeguarding Maple Ridge’s financial assets, conducting internal audits and general cashiering services. The department is also responsible for reporting on financial matters to the Audit & Finance Committee

2018 Workplan Emphasis Research will be conducted for available solutions to maintain an inventory of the City’s tangible capital assets. A review will be conducted of City owned property that is currently leased to ensure that BC Assessment has/receives correct information for the purpose of taxable assessment values. Published documents will be produced that provide a comprehensive and clear overview of the financial performance and resources. We will manage our investment portfolio in a manner that maximizes our return without compromise to safety and liquidity, maintain an inventory of municipal assets consistent with industry standards and review and revise corporate financial policies as necessary. Tax notices, utility bills, licences, etc. will be issued by specific dates in the most cost-efficient and cost- effective method to the benefit of all stakeholders. We will prepare operating statements, consolidated financial reports, conduct quarterly financial operating reviews and prepare an analysis of reserve funds/ accounts showing fund balances and additional planned transfers. We will prepare a Five-Year Financial Plan and continue to focus on improvements to infrastructure sustainability. Relevant and timely information will support Council’s financial management decision-making process.

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