HomeMy WebLinkAboutAFC 2013-05-06 Minutes.pdfI
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District of Maple Ridge
Audit & Finance Committee Meeting Minutes
May 6, 2013
The Minutes of the Audit and Finance Committee Meeting held in the Blaney Room of
the Municipal Hall, 11995 Haney Place, Maple Ridge, BC on Monday, May 6, 2013 at
8:00 a.m.
PRESENT
Municipal Staff
J. Rule, Chief Administrative Officer
Committee Members
Councillor Morden, Chair
Mayor Daykin P. Gill, General Manager, Corporate & Financial Services
Councillor Bell
Councillor Masse
K. Swift, General Manager of Community Development, Parks
and Recreation Services
Guests
Councillor Hogarth
Councillor Ashlie
B. Cox (BOO Canada, LLP)
C. Nolan, Manager of Accounting
T. Thompson, Manager of Financial Planning
A. Gaunt, Confidential Secretary
The meeting was called to order at 8:00 a.m.
1. Approval of agenda
MOVED by Mayor Daykin and SECONDED by Councillor Bell that the agenda be
approved as circulated.
CARRIED
2. Approval of minutes of April 22, 2013
MOVED by Mayor Daykin and SECONDED by Councillor Bell that the minutes of
April 22, 2013 be approved.
3. 2012 Audit Update
Overview of 2012 audit by external auditor
The auditor provided an overview of audit findings and reviewed the
management letter dated April 23, 2013
CARRIED
Audit & Finance Committee Meeting Minutes
May 6, 2013
Page 2
He advised that the District has received a clean audit opinion and that all
transactions, balances, statements and disclosures are accurate in all material
respects. He highlighted the section on possible fraud and illegal activities and
advised that it is the auditor's responsibility to report any activities brought to
their attention and that there is nothing to report on this issue.
The Auditor addressed audit materiality and the level set for materiality.
The General Manager of Corporate and Financial Services advised on the
transactions in the utility fund.
The auditor reviewed the management letter and advised that they look for
practices which benefit or do not benefit the organization and put forward
recommendations pertaining to a process which may be helpful. He also
advised on Canada Revenue Agency regulations relating to the use of a service
provided by a non-resident organization.
4. Investments
Review of investment listing and ROI information
The Manager of Financial Planning reviewed the staff report and the investment
report summary. He advised on internal investments and terms as well as the
budgeting process for investments.
Note: All staff left the meeting at 8:34 a.m. to allow Council to meet with the Auditor.
5. Next Meeting
Adjournment -8:45 a.m.
Councillor Morden, Chair