HomeMy WebLinkAboutAFC 2013-11-12 Minutes.pdfDistrict of Maple Ridge
Audit & Finance Committee Meeting Minutes
November 12, 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 Tuesday, November 12,
2013 at 5:30 p.m.
PRESENT
Committee Members
Councillor Morden, Chair
Mayor Daykin
Councillor Bell
Councillor Masse
Guests
Councillor Hogarth
Councillor Ashlie
Councillor Dueck
Municipal Staff
J. Rule, Chief Administrative Officer
P. Gill, General Manager, Corporate & Financial Services
K. Swift, General Manager of Community Development, Parks
and Recreation Services
F. Quinn, General Manager of Public Works and Development
C. Nolan, Manager of Accounting
T. Thompson, Manager of Financial Planning
K. Gormley, Manager of Business Systems
A. Gaunt, Confidential Secretary
F. Armstrong, Manager of Corporate Communications
The meeting was called to order at 5:30 p.m.
1. Approval of agenda
2.
MOVED by Councillor Bell and SECONDED by Mayor Daykin that the agenda be
approved as circulated.
CARRIED
Approval of minutes of May 6, 2013
MOVED by Mayor Daykin and SECONDED by Councillor Bell that the minutes of
May 6, 2013 be approved.
CARRIED
Note: Item 5 was deal with prior to Item 3
Audit & Finan ce Committee Meeting Minutes
November 12, 2013
Page 2
3. PS3260 -Liability for Contaminated Sites Implementation
The Manager of Accounting reviewed the report.
The General Manager of Corporate and Financial Services advised on changes
in accounting standards applying to the local government sector. He also
advised that due to new regulations, third party expertise may be necessary in
some cases for which one time funding may be required.
The Manager of Accounting provided clarification on the standard requiring the
District to review land holdings for possible contamination.
4. 2014-2018 Financial Plan -Preliminary Overview -discussion
The General Manager of Corporate and Financial Services provided an update
on the current status of financial planning. He reminded committee members
of dates set aside for business planning and provided details on information
which can be expected in the upcoming financial report to Council. He provided
a slide which summarized information to be provided in the report, indicated
that the final report will discuss significant items such as cost drivers and what
can be done with these as well as how cutbacks may impact future generations.
He provided an explanation on assumptions and addressed concerns pertaining
to staffing levels.
Note: Item 5 was dealt with prior to Item 3
5. Investments
The Manager of Financial Planning reviewed the report.
The General Manager of Corporate and Financial Services advised that the
investment portfolio is being administered according to policy and that returns
are better than average.
6. Next Meeting -to be determined
Adjournment-6:38 p.m.
Councillor Morden, Chair