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District of Maple Ridge
Audit & Finance Committee Meeting Minutes
February 4, 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 Monday, February 4,
2013 at 8:00 a.m.
PRESENT
Committee Members
Councillor Morden, Chair
Mayor Daykin
Councillor Bell
Councillor Masse
Guests
Councillor Hogarth
Councillor Ashlie
B. Cox (BOO Canada , LLP)
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
C. Nolan, Manager of Accounting
T. Thompson, Manager of Financial Planning
The meeting was called to order at 8:00 a.m.
1. Approval of agenda
MOVED by Councillor Bell and SECONDED by Mayor Daykin that the agenda be
approved as circulated.
CARRIED
2. Approval of minutes of July 16, 2012
MOVED by Mayor Daykin and SECONDED by Councillor Bell that the minutes of
July 16, 2012 be approved.
CARRIED
3. Community Grants -Draft Policy
The Manager of Accounting reviewed the report and the Community Grants
Policy. She provided background on the work undertaken to develop the policy
and spoke to the financial support process available to groups through the
District.
Audit & Finance Committee Meeting Minutes
February 4, 2013
Page 2
The General Manager of Corporate and Financial Services advised on grant
eligibility and advised that the work done on the policy acknowledges that the
grant process should not be about competing with private industry.
MOVED by Mayor Daykin and SECONDED by Councillor Masse that the draft
Community Grants Policy be brought forward to Council with the inclusion of
feedback from the Audit and Finance Committee.
CARRIED
4. 2012 Audit Update -Overview of 2012 audit by external auditor
Bill Cox, External Auditor, BDO Canada LLP reviewed the Auditor's letter of
January 18, 2013 and outlined anticipated issues.
He highlighted the table pertaining to higher risk financial statement areas and
provided an explanation of why items may be considered high risk. He
reviewed the list and outlined procedures for each audit area. The auditor
reviewed the remaining sections of the letter. He focused on materiality and
the section on "Council's Fraud Awareness" and upcoming changes in
government accounting.
There was discussion on best practices in terms of setting aside monies for
infrastructure replacement.
Adjournment -8:52 a.m.
Councillor Morden, Chair