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Feb 7,2017 Finance Committee
2.1 Minutes
FC17/007
Moved, seconded, and CARRIED THAT the minutes of the Finance Committee meeting held on Tuesday, January 17, 2017 be adopted. 3.1 2017 Financial Plan Draft Capital Budget
Report: Financial Services Department, dated December 23, 2016 File: 05-1700-03-2017-08 Staff gave a presentation on the 2017-2021 Financial Plan Draft and responded to questions from the Committee regarding budget drivers, Asset Reserve opening and ending balances, and details of Asset Reserve line items.
FC17/008
Moved, seconded, and CARRIED THAT $295,852 of the estimated 2017 opening balance in the Asset Reserve be allocated to the Asset Reserve Envelope for City Equipment. (Voting against: Mayor Clay) FC17/009
Moved and seconded THAT $453,419 of the 2016 Operating surplus be allocated to the Council Strategic Priorities Reserve to fund the 2016 ending balance deficit. FC17/010
Moved and seconded THAT the foregoing motion be amended by: replacing $453,419 with $250,000; and adding AND THAT the proposed funding for the Council Strategic Priorities Reserve be $372,500 in each year from 2017 to 2021. FC17/011
Moved, seconded, and DEFEATED THAT the foregoing amending motion be further amended by replacing 2017 with 2018. (Voting against: Councillors Dilworth, Glumac, Junker, and Lahti) The question on the main amending motion (FC17/010) was put to a vote;
the motion was CARRIED.
(Voting against: Councillor Vagramov) The question on the main motion (FC17/009) as amended (by FC17/010) was put to a vote;
the following motion was CARRIED: THAT $250,000 of the 2016 Operating surplus be allocated to the Council Strategic Priorities Reserve to fund the 2016 ending balance deficit;
AND THAT the proposed funding for the Council Strategic Priorities Reserve be $372,500 in each year from 2017 to 2021. (Voting against: Councillor Vagramov) Discussion of this item will continue at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
4.1 Festival and Event Funding
Report: Community Services Department, dated January 26, 2017 File: 18-7810-00/2010-01 This item was not addressed. This item will be considered at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
4.2 Funding Source for Port Moody Art Association Delegation Request
Memo: Financial Services Department, dated January 27, 2017 File: 15-7715-03-005 This item was not addressed. This item will be considered at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
4.3 Funding Source for Business Continuity Plan
Memo: Financial Services Department, dated January 27, 2017 File: 14-7200-05 This item was not addressed. This item will be considered at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
4.4 Traffic Fine Reserve Closure
Memo: Port Moody Police Board, dated January 27, 2017 File: 14-7400-01 This item was not addressed. This item will be considered at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
4.5 2016 Projected Surplus Funding Requests
Memo: Port Moody Police Board, dated January 27, 2017 File: 14-7400-01 This item was not addressed. This item will be considered at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
4.6 Participatory Budgeting for Community Grants
Verbal Report: General Manager of Financial Services File: 05-1850-001 This item was not addressed. This item will be considered at the next Finance Committee meeting to be held on Tuesday, February 21, 2017.
5.1 Information Contract Awards Over $200,000 January 2017
Memo: Manager of Corporate Purchasing and Risk Management, dated January 23, 2017 File: 03-1220-01 |