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City of Maple Ridge
Audit & Finance Committee
MEETING MINUTES
The Minutes of the Regular Meeting of the Audit & Finance Committee
held virtually and in the Blaney Room, City Hall on June 14, 2021 at 1:00 pm
COMMITTEE MEMBERS PRESENT
Mayor Morden, Chair
Councillor Dueck
Councillor Robson*
STAFF MEMBERS PRESENT
Al Horsman*
Christina Crabtree
Christine Carter
Catherine Nolan
Trevor Thompson
Scott Hartman*
Chuck Goddard
Lisa Zosiak
Erin Mark
Chief Administrative Officer
General Manager Corporate Services
General Manager Planning and Development Services
Deputy Director of Finance
Director of Finance
General Manager Parks, Recreation & Culture
Director of Planning
Manager of Community Planning
Clerk 3
*Participated remotely due to the COVID-19 pandemic.
1. CALL TO ORDER
2. APPROVAL OF THE AGENDA
R/2021-AFC-O 10
It was moved and seconded
That the agenda for the June 14, 2021 Audit & Finance Committee Meeting be approved as
circulated.
CARRIED
3. ADOPTION OF MINUTES
R/2021-AFC-011
It was moved and seconded
That the minutes of the May 3, 2021 Audit & Finance Committee Special Meeting be adopted
as circulated.
CARRIED
4. DELEGATIONS -Nil
Audit & Finance Committee Meeting Minutes
June 14, 2021
Page 2 of 3
5. NEW AND UNFINISHED BUSINESS
5.1. Fee for Service Agreements
C. Nolan, Deputy Director of Finance, provided a presentation detailing the review of the Fee for
Service Agreement related policies and proposed next steps. Ms. Nolan noted the Fee for
Service Agreement policy review was referred by Council to the Audit and Finance Committee
on January 12, 2021 and discussed during the January 20, 2021 Audit and Finance Committee
meeting.
Proposed next steps of the policy review include:
• Update the Financial Support Process Policy No. 5.49 with new definitions for Grants
and Fee for Service and update the decision trees to clarify intent and to correspond
with current organizational structure and policies;
• Update the Community Grants Policy No. 5.56 with updated eligibility criteria including
reference to Council's strategic priorities, include repayment information when the
recipient is unable to use the funding, and update reporting requirements;
• Rescind Partnerships Agreement -Leases and Fee-for-Service Proposals Policy
No. 4.15 and replace with a new policy with a broader operational focus; and
• Draft a new policy to address Fee for Service Agreements.
Committee members provided feedback and discussed the management of community grants
and the processing of community grant applications received while the policies are under
review. Ms. Nolan indicated that the policies will be brought back to the Audit and Finance
Committee in Q4 2021 and will be presented for Council consideration afterwards.
R/2021-AFC-0 12
It was moved and seconded
That the recommendations in the staff report dated June 14, 2021 to update the Financial
Support Process Policy No. 5.49, update Community Grants Policy No. 5.56, rescind Partnership
Agreements -Leases and Fee-for-Service Proposals Policy No. 4.15, and draft a new policy to
address Fee for Service Agreements be supported.
CARRIED
5.2. Review of Community Amenity Contributions Programs
T. Thompson, Director of Finance, provided a verbal overview of the existing community amenity
contribution programs and spoke about the collections, commitments, and exemptions for
provision of specific amenities and uses associated with the programs:
• Albion Area Density Bonus Program
• Community-Wide Community Amenity Contribution Program
• Community-Wide Density Program
Committee members discussed: the need to identify what projects funds are going towards, a
City-wide density bonus program, current rates of amenity contributions and the consultation
involved with amending the rates.
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Audit & Finance Committee Meeting Minutes
June 14, 2021
Page 3 of 3
5.3. 2O21 Investment Report -Quarter 1
6.
7.
8.
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T. Thompson, Director of Finance, provided a verbal overview on the results of the City's
investment portfolio for the period ending March 31, 2021 which included a Return on
Investment (ROI) of 1.1%, exceeding the benchmark of negative 0.1%.
Mr. Thompson noted the Municipal Finance Authority (MFA) has increased the number of
pooled funds offered and that an internal policy review may need to occur following the
release of these funds.
Committee members discussed the restrictions on the City's investments, other investment
strategies, and enquired about the new MFA fund parameters.
QUESTION PERIOD -Nil
NOTICE OF CLOSED MEETING -Nil
ADJOURNMENT at 2:15 pm
Merden, Chair