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Feb 2,2016 Finance

Agenda               Minutes

2.1 Minutes

Moved, seconded, and CARRIED
THAT the minutes of the Finance Committee meeting held Tuesday, January 19, 2016 be adopted.

4.2 Pre-Approval for InHouse Grass Cutting and Sports Fields Maintenance
Report: Engineering and Parks Services Department, dated January 25, 2016
File: 12-5970-00

Moved, seconded, and CARRIED
THAT the report dated January 25, 2016 from Engineering and Parks Services Department regarding Pre-Approval for In-House Grass Cutting and Sports Fields Maintenance be received for information;
AND THAT the cost differential over the expired contract of $64,500 per year be given early budget approval for 2016;
AND THAT the capital costs of $11,000 for a ride-on mower, $5,000 for a trailer, and $35,000 for a reel-style gang mower attachment be given early budget approval for 2016.

The Director of Parks and Public Works and the Superintendent of Support Services left the meeting at this point and did not return.

4.1 Tax Class Analysis (Class 4, 5, and 6)
Memo: Financial Services Department, dated January 25, 2016
File: 05-1960-01

Councillor Lahti provided background information on Council’s request for tax class analysis, and noted that the presentation is intended to provide background information to facilitate an evaluation of the City’s existing tax policies.
Staff provided an overview of how taxes are calculated and distributed among different tax classes, noting that different cities have different policies on how the tax burden is distributed. Staff presented an overview of how tax rates have changed for different classes over the last decade, and illustrated how the overall policies affect tax rates for individual taxpayers in classes 4, 5, and 6 by analysing two examples from each class.
Staff answered questions about tax rate calculations in general and also about school taxes, Payment-In-Lieu-of-Taxes from the Provincial Government, and the effects of shifting tax burden among different classes.
The Committee thanked staff for the informative presentation, and noted the need for further examination of tax policies, and for further information on the effect of school tax calculations for Port Moody taxpayers.

Councillor Lahti noted that this item will be placed on future Finance Committee agendas for further discussion.

5.1 2016 Asset Management Planning Program Grant Approval and Terms & Conditions
Letter: UBCM Local Government Program Services, dated January 14, 2016
File: 05-1855-01-05

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