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City of Maple Ridge
Audit & Finance Committee
MEETING MINUTES
The Minutes of the Special Meeting of the Audit & Finance Committee
held virtually and in the Blaney Room, City Hall on May 3, 2021 at 1:00 pm
COMMITTEE MEMBERS PRESENT
Councillor Robson*
Councillor Dueck*
Mayor Morden, Chair
COUNCIL MEMBERS PRESENT
Councillor Meadus
Councillor Yousef
STAFF MEMBERS PRESENT
Al Horsman
Christina Crabtree*
Catherine Nolan
Trevor Thompson
Darrell Denton
Scott Hartman*
Erin Mark
GUESTS
Chief Administrative Officer
General Manager Corporate Services
Corporate Controller
Director of Finance
Deputy Corporate Officer
General Manager Parks, Recreation & Culture
Clerk 3
Brian Szabo Partner, BDO Canada LLP
*Participated remotely due to the COVID-19 pandemic.
Note: Councillor Robson was not present for the beginning of the meeting.
1. CALL TO ORDER
2. APPROVAL OF THE AGENDA
R/2021-AFC-007
It was moved and seconded
That the agenda for the May 3, 2021 Audit & Finance Committee Special Meeting be approved
as circulated.
CARRIED
3. ADOPTION OF MINUTES
R/2021-AFC-008
It was moved and seconded
That the minutes of the March 8, 2021 Audit & Finance Committee Meeting be adopted as
circulated.
CARRIED
Note: Councillor Robson joined the meeting at 1:05 pm.
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Audit & Finance Committee Meeting Minutes
May 3, 2021
Page 2 of 2
4. DELEGATIONS -Nil
5. NEW AND UNFINISHED BUSINESS
5.1. 2020 Consolidated Financial Statements
C. Nolan, Corporate Controller, provided a presentation on the 2020 Financial Statements and
the audit completed by BD0 Canada LLP. Ms. Nolan shared the auditor's opinion statement on
the consolidated financial statements, reviewed several prior period adjustments that were
required, and provided an overview of the financial statements. Highlights included that the
results for 2020 are within the approved financial plan, the net financial position was
$124.2 million, accumulated surplus was $1.26 billion, and general revenue accumulated
surplus was $11 million. Ms. Nolan indicated that the 2020 Consolidated Financial Statements
would be provided to Council at the May 4, 2021 Committee of the Whole Meeting, and
considered for approval at the May 11, 2021 Council Meeting.
Committee members enquired about the debt that is included in the financial statements,
investment funds, and about changes in reserve fund policies.
R/2021-AFC-009
It was moved and seconded
That the staff report dated May 4, 2021 titled "2020 Consolidated Financial Statements" be
received.
CARRIED
At this point B. Szabo, Partner, BD0 Canada LLP provided a verbal overview of BD0 Canada's
LLP 2020 Audit Letter and highlighted some of the notes including impacts of C0VID, prior
period adjustments, and tangible asset management software.
Committee members asked staff about the current tangible asset management software.
6. QUESTION PERIOD -Nil
7. NOTICE OF CLOSED MEETING
The Committee determined that the Closed Meeting was not required.
8. ADJOURNMENT at 1:55 pm
orden, Chair