HomeMy WebLinkAboutAFC 2017-04-24 Minutes.pdfl i ,
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City of Maple Ridge
Audit & Finance Committee Meeting Minutes
April 24, 2017
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, April 24, 2017 at 9:00
a.m.
PRESENT
Committee Members
Councillor Masse, Chair
Councillor Duncan
Councillor Robson
Councillor Shymkiw
Councillor Speirs
Absent
Councillor Bell
Mayor Read
Municipal Staff
T. Swabey, Chief Administrative Officer
K. Swift, General Manager Parks, Recreation & Culture
P. Gill, General Manager Corporate & Financial Services
C. Nolan, Manager of Accounting
T. Thompson, Manager of Financial Planning
L. Benson, Manager of Sustainability & Corporate Planning
The meeting was called to order at 9:05 a.m.
1. Approval of the Agenda
It was moved and seconded
That the agenda for the April 24, 2017 Audit & Finance Committee meeting be
approved as circulated.
CARRIED
2. Approval of minutes of March 20, 2017
It was moved and seconded
That the minutes of the Audit & Finance Committee of March 20, 2017 be
adopted as circulated.
CARRIED
Audit & Finance Committee Meeting Minutes
April 24, 2017
Page 2
3. 2016 Consolidated Financial Statements
The Manager of Accounting provided a presentation reviewing the 2016 Consolidated
Financial Statements and advised the Committee that a Council Resolution to accept the
statements is on the April 25, 2017 agenda.
4. Investment Reports
The Manager of Financial Planning reviewed the investment report and advised the
Committee that the returns on the City's investment holdings exceeded benchmarks in
2016 and to date in 2017, and that the City's holdings are within the parameters set out
in the investment policy.
5. DCC Bylaw Update
The Manager of Financial Planning provided the Committee with an update on the status
of the DCC Bylaw update. He indicated that rates would be increasing to reflect rising
costs and provided the Committee with information regarding the regulatory process
involved in adopting a new DCC Bylaw.
6. Council Compensation -Remuneration
The Manager of Accounting reviewed three different options that could be used to adjust
Council remuneration and asked the Committee to provide direction on any changes to
remuneration they would like to recommend to Council. The Committee directed that
starting in 2017, Council remuneration be adjusted annually by the change in Vancouver
CPI for the previous calendar year and that should the recent proposal by the Federal
Government to, effective in 2019, eliminate the Income Tax Act provision deeming 1/3
of the remuneration of an elected official to be a tax free allowance be enacted, that an
adjustment to remuneration be provided on January 1, 2019 to offset the impact. The
committee directed Staff to prepare a bylaw incorporating those recommendations for
consideration at a future Council meeting.
7. Council Compensation -Training, Conferences & Association Building
Policy3.07
Item was deferred to the meeting of May 8, 2017
8. Next Meeting
The next meeting is scheduled for May 8, 2017 at 9:00 a.m.
Adjournment -9:58 a.m.
B.kasse, Chair