HomeMy WebLinkAboutAFC 2019-04-16 Minutes.pdf)
City of Maple Ridge
AUDIT AND FINANCE COMMITTEE MEETING MINUTES
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 April 16, 2019 at 4:32 pm.
PRESENT
Appointed Staff
K. Swift, Acting Chief Administrative Officer
Committee Members
Councillor J. Dueck, Chair
Mayor M. Morden
Councillor K. Duncan
Councillor C. Meadus
Councillor R. Svendsen
Councillor A. Yousef
Councillor G. Robson
F. Quinn, General Manager Public Works and Development
Services
D. Boag, Acting General Manager Parks, Recreation &
Culture
T. Thompson, Chief Financial Officer
C. Nolan, Corporate Controller
L. Benson, Director of Corporate Administration
A. Allen, Committee Clerk
Note: These Minutes are also posted on the City's Website at www.mapleridge.ca
The meeting was live streamed and recorded by the City of Maple Ridge.
Note: Councillor Svendsen was not in attendance at the start of the meeting.
1. CALL TO ORDER
2. APPROVAL OF THE AGENDA
R/2019-006
It was moved and seconded
That the agenda for the April 16, 2019 Audit & Finance Committee meeting be approved as
circulated.
CARRIED
3. ADOPTION OF MINUTES
R/2019-007
It was moved and seconded
That the minutes of the Audit & Finance Committee dated February 19, 2019 be adopted
as circulated.
CARRIED
=-
Audit & Finance Committee Minutes
April 16, 2019
Page 2 of 3
4. UNFINISHED BUSINESS
4.1. Terms of Reference as amended
The Corporate Controller reviewed the amended Terms of Reference.
Note: Councillor Svendsen joined the meeting at 4:35 pm.
4.2. 2018 Year-End Update
The Corporate Controller reviewed the 2018 results in the General Revenue Fund. There
was discussion on the General Revenue Fund, the accumulated surplus balance and
funds set aside to support Council 's Strategic Plan.
Note: Councillor Duncan left the meeting at 4:48 pm.
4.3. Investment Report 2018
The Chief Financial Officer reviewed legislation, recent regulatory changes and
investment policy. There was discussion on alternate options and opportunities to
leverage investments and returns moving forward. A separate land strategy discussion by
Council is required and direction to explore options could be included in the upcoming
business plan guidelines.
4.4. 2019-2023 Financial Plan Amending Bylaw
The Chief Financial Officer summarized a business planning cycle and reviewed the
proposed amendments to the Financial Plan amending bylaw. There was discussion on
various elements of the financial plan and the implications to property tax increases.
Note: Councillor Duncan returned to the meeting at 5:20 pm.
R/2019-008
It was moved and seconded
That the report titled "2019-2023 Financial Plan Amending Bylaw" be forwarded to the next
Council meeting.
CARRIED
Councillor Robson -OPPOSED
Audit & Finance Committee Minutes
April 16, 2019
Page 3 of 3
4.5. 2019 Property Tax Rates Bylaw
The Chief Financial Officer summarized the legislated requirements of property tax rates
bylaws and the tax rate increases as included in the Financial Plan adopted by the
previous Council. There was discussion on property tax multiples between different
property classes.
R/2019-009
It was moved and seconded
That the report titled "2019 Property Tax Rates Bylaw" be forwarded to the next Council
meeting
CARRIED
4.6. Sewer Rate Bylaw Amendment
R/2019-010
It was moved and seconded
That the report titled "Sewer Rate Bylaw Amendment" be forwarded to the next Council
meeting.
CARRIED
5. ADJOURNMENT -5:42 pm
uciHor.Judy'ueck, Chair