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Jan 20,2015 Finance Committee
Finance Committee
Report: Engineering and Parks Services, dated January 9, 2015 / File: 02-760-20-27
Councillor Lahti explained that, due to concerns about using the Heritage Reserve Fund for this project, Council had asked staff to report back with alternative funding source options. Staff provided an overview of the request for additional funding, noting that, as the City Accumulated Surplus account is intended for use in emergencies only, staff recommend the additional funds be allocated from the Heritage Reserve Fund. Discussion ensued with regard to which account would be more appropriate in this case.
FC15/001
Moved, seconded and CARRIED
THAT additional funding in the amount of $25,000, as recommended in the report dated January 9, 2015 from Engineering and Parks Services regarding Appleyard Centennial House – Project closeout and additional funding request, be approved.
AND THAT the funding be allocated from the City Accumulated Surplus account.
(Voting against: Mayor Clay)
Report: Engineering and Parks Services, dated January 9, 2015 / File: 16-8665-01
Staff provided an overview of the report, noting that a grant in the amount of $15,000 had been expected from the ICBC Road Improvement Program. The grant was not received, resulting in a funding shortfall and a need for reallocation of funds for this project. FC15/002
Moved, seconded and CARRIED
THAT $10,000 be reallocated from project CEN13103 ‘Overhead street name signs’ to project OEN06026 ‘Ioco Road Traffic Study’ as recommended in the report dated January 9, 2015 from Engineering Services regarding 2014 Projects funding reallocation-Ioco Road Traffic Study;
AND THAT $5,000 be reallocated from project CEN14111 ‘MRN street name signs’ to project OEN06026 ‘Ioco Road traffic study’.
Addition to the Agenda FC15/003
Moved, seconded and CARRIED
THAT Budget Strategies Presentation be added to the agenda of the regular Finance Committee meeting held January 20, 2015 as item 5.2.
Monthly Expenditure Report, January-December 2014 / File: 05-1615-01
Staff provided an overview of the Monthly Expenditure Report.
FC15/004
Moved, seconded and CARRIED
THAT the unaudited Monthly Expenditure Report for the months of January to December 2014 be received for information.
Memo: Manager of Corporate Purchasing and Risk Management, dated January 2, 2015 / File: 03-1220-01
FC15/005
Moved, seconded and CARRIED
THAT the Contract Awards Over $200,000 – October to December 2014 memo, dated January 2, 2015 from the Manager of Corporate Purchasing and Risk Management, be received for information.
Presentation: Financial Services Department / File: 05-1610-01
Staff presented a proposed budget deliberations meeting calendar as follows: · February 3 Finance Committee – reserve listing (use, balance, restrictions), capital pre approvals (second round), asset funding history and evolution, asset management investment plan (overview), RDH consultant report, WWWS report · February 17 Finance Committee – AMIP (further information and analysis if required), tax increase for Town Hall (scenarios) · February 23 – possible Town Hall Meeting · March 3 Finance Committee – budget deliberations as needed · March 5 – possible Town Hall Meeting · March 17 – No meeting due to spring break · April 7 Finance Committee – budget deliberations (operating) · April 21 Finance Committee – budget deliberations (capital) · April 28 Council – public Financial Plan presentation, first three readings of Financial Plan and Tax Rates Bylaws · May 12 Council – adoption of Financial Plan and Tax Rates Bylaws Discussion ensued with regard to whether the proposed meeting calendar provided enough time for required deliberations. It was agreed that additional meetings could be scheduled as required.
FC15/006
Moved, seconded and CARRIED
THAT the proposed budget meeting calendar be endorsed with a Budget Town Hall Meeting scheduled on March 5, 2015.
FC15/007
Moved, seconded
THAT no budget-specific Ipsos Reid survey be conducted in 2015.
FC15/008
Moved, seconded and CARRIED
THAT the foregoing motion be amended by adding the following:
AND THAT the Ipsos Reid survey to be conducted in 2016 include the same budget related questions as were included in the previously conducted survey.
The question on the main motion was put and CARRIED. It was requested that staff provide a list of what is being planned for the budget consultation process at the next Finance Committee meeting. 6. Adjournment Councillor Lahti adjourned the meeting at 7:09pm. |