HomeMy WebLinkAboutAFC 2023-07-11 Minutes.pdf
City of Maple Ridge
Audit & Finance Committee
MEETING MINUTES
The Minutes of the Regular Meeting of the Audit & Finance Committee held in the Blaney Room, City Hall on July 11, 2023 at 5:03 pm
COMMITTEE MEMBERS PRESENT
Mayor Ruimy
Councillor Korleen Carreras, Chair
Councillor Jenny Tan
STAFF MEMBERS PRESENT
Scott Hartman Chief Administrative Officer
Trevor Thompson Director of Finance
Catherine Nolan Deputy Director of Finance
CK Lee Manager of Financial Planning
Arsh Dhillon Committee Clerk
GUEST
1. CALL TO ORDER – 5:03 pm
1.1. Land Acknowledgment
Councillor C. Carreras, Chair, called the meeting to order and provided the land
acknowledgment.
2. APPROVAL OF THE AGENDA
R/2023-AFC-008
It was moved and seconded
That the agenda for the July 11, 2023 Audit & Finance Committee Meeting be approved as
circulated.
CARRIED UNANIMOUSLY
3. ADOPTION OF MINUTES
R/2023-AFC-009
It was moved and seconded
That the minutes of the April 25, 2023 Audit & Finance Committee Meeting be adopted as
circulated.
CARRIED UNAMIMOUSLY
4. DELEGATIONS – NIL
~ Maple Ridee
~
Audit & Finance Committee Meeting Minutes July 11, 2023
Page 2 of 3
5. NEW AND UNFINISHED BUSINESS
5.1. Permissive Tax Exemption Policy Review
C. Nolan, Deputy Director of Finance, presented on the Permissive Tax Exemption Policy. Topics
included: statutory exemptions, permissive exemptions, current policy directions, 2023
recipients, 2023 fiscal impact, and process. Staff answered questions from Council.
R/2023-AFC-010
It was moved and seconded
That the Audit & Finance Committee confirm the Permissive Tax Exemption Policy Framework
as outlined in Policy numbers 5.16, 5.17, 5.18, 5.19, 5.20, 5.21, 5.22, and 5.23.
CARRIED UNAMIMOUSLY
5.2. Financial Policy Review
C. Nolan, Deputy Director of Finance, presented a financial policy review. Topics included: Policy
No. 5.52 – Financial Sustainability Plan, Policy No. 5.55 – Gaming Revenue, Policy No. 5.11 –
City Lands Disposition Proceeds, Policy No. 5.35 – Expense Policy for Council, Employees, &
Other, Policy No. 5.44 – Investment of Municipal Funds. Staff answered questions from Council.
R/2023-AFC-011
It was moved and seconded
That the Audit & Finance Committee confirm the scope of work and direction of the financial
policy review.
CARRIED UNAMIMOUSLY
5.3. Investment Overview
T. Thompson, Director of Finance, presented an investment overview. Topics included:
investments, legislation, investment policy, yield curve, and next steps. Staff answered
questions from Council.
6. QUESTION PERIOD – NIL
7. NOTICE OF CLOSED MEETING
R/2023-AFC-012
It was moved and seconded
THAT, pursuant Section 90 of the Community Charter, this portion of the meeting be closed to
the public as the subject matter being considered relates to the following:
• 90(1)(l) – Discussions with municipal officers and employees respecting municipal
objectives, measures and progress reports for the purposes of preparing an annual
report under Section 98 [annual municipal report].
AND, any other matter that may be brought before the Committee of Council that meets the
requirements for a meeting closed to the public pursuant of Section 90 of the Community
Charter or Freedom of Information and Protection of Privacy Act.
CARRIED UNANIMOUSLY
Audit & Finance Committee Meeting Minutes July 11, 2023
Page 3 of 3
8. ADJOURNMENT - 6:18 PM
Councillor Korleen Carreras, Chair
/ad