2020 Annual Report

Annual Report 2020 35 Finance The Finance Department is responsible for the financial management functions of the City. Finance staff liaise with all City departments and various external organizations, including the RCMP and the Fraser Valley Regional Library, to coordinate the City’s financial activities. The Finance Department is responsible for the development of the City’s annual Financial Plan (budget), the annual financial statements, the annual review of the Development Cost Charge (DCC) Bylaw and the preparation of the Annual Report. Finance is also responsible for the external annual reporting of financial activities to the Province. This department’s functions include: • Accounts receivable • Accounts payable • Payroll • Collection of property taxes, water, sewer, curbside collection and recycling fees • Safekeeping of all financial instruments • Investment management • Municipal government grant research • Risk management 14,533 HOME OWNER GRANTS PROCESSED ONLINE 4,720 TAX PREPAYMENT PLAN PARTICIPANTS 16,982 MYCHILLIWACK ACCOUNTS