AGENDA - Finance Advisory Committee - 20190130
Finance
Advisory Committee
Meeting Agenda
Wednesday, January 30, 2019
5:30 p.m.
Holland Room
Aurora Town Hall
Public Release
January 25, 2019
Town of Aurora
Finance Advisory Committee
Meeting Agenda
Date: Wednesday, January 30, 2019
Time and Location: 5:30 p.m., Holland Room, Aurora Town Hall
1.Appointment of Committee Chair
Recommended:
1.That (insert name) be appointed as the Finance Advisory Committee Chair.
2.Approval of the Agenda
Recommended:
That the agenda as circulated by Legislative Services be approved.
3. Declarations of Pecuniary Interest and General Nature Thereof
4.Receipt of the Minutes
5.Delegations
6.Consideration of Items
Finance Advisory Committee Meeting Agenda
Wednesday, January 30, 2019 Page 2 of 2
1. Finance Advisory Committee – Terms of Reference
Recommended:
1. That the Finance Advisory Committee Terms of Reference be received.
2. 2019 Work Plan for Finance Advisory Committee
Recommended:
1. That the proposed 2019 Work Plan for Finance Advisory Committee be
received; and
2. That the 2019 Work Plan be approved.
3. Round Table Discussion
Re: Process and Expectations for 2019 Detailed Departmental Budget
Reviews
Recommended:
1. That the comments and suggestions regarding the Process and
Expectations for the 2019 Detailed Budget Reviews be received and
referred to staff for consideration and action as appropriate.
4. Round Table Discussion
Re: 2019 Operating Budget Debrief
Recommended:
1. That the comments and suggestions regarding the 2019 Operating Budget
Debrief be received and referred to staff for consideration and action as
appropriate.
7. New Business
8. Adjournment
2018-2022 Boards and Committees
FINANCE ADVISORY COMMITTEE
TERMS OF REFERENCE
1. Purpose
The primary function of the Finance Advisory Committee is to assist staff, Council and
the Corporation in fulfilling its fiscal responsibilities by reviewing and recommending
on the long range corporate financial planning process; capital planning initiatives and
fiscal policy matters.
The Committee mandate shall include proactive advance input into the annual
budgeting processes with a view to enhancing reporting and analysis mechanisms to
ensure we are delivering values programs and services in the most effective and
efficient manner.
2. Membership
The Committee shall be composed of three (3) Councillors.
3. Term
The Committee shall hold office for a term of four years concurrent with the term of
Council.
4. Remuneration
None
5. Duties and Functions
The Committee shall review and make recommendations to Council in the following
areas:
• Long-range, corporate financial planning policy/process that would enhance
the long-term financial health of the Corporation;
• The annual capital and operating budget process and financial reporting process
to enhance:
1. the higher level policy decision-making role of Council
2. the existing reporting/analysis tools to assist Council’s decision-making
Finance Advisory Committee Meeting Agenda
Wednesday, January 30, 2019
Item 1
Page 1 of 2
Finance Advisory Committee
Terms of Reference
Page 2 of 2
2018-2022 Boards and Committees
process
3.the timing and extent of public participation in the process;
•The business practices of the organization, identifying opportunities that would
increase effectiveness and efficiencies;
•Fiscal policy matters;
•The annual performance measures report to the Province, noting the relative
position of Aurora with comparator municipalities in the designated categories;
and
•Undertake other assignments as may be requested by Council from time to time.
6.Meeting Times and Locations
The Financial Advisory Committee shall normally meet at Town Hall once per month,
except for the months of July and August, from 5:30 p.m. to 6:45 p.m. on the
W ednesday of the Public Planning meeting of that month.
7.Staff Support
Technical support shall be provided by the CAO and the Director of Financial
Services - Treasurer. The Legislative Services division shall provide administrative
support services to the Committee.
8.Agendas
Agendas are set by the Director in consultation with the Chair.
Finance Advisory Committee Meeting Agenda
Wednesday, January 30, 2019
Item 1
Page 2 of 2
Finance Advisory Committee: 2019 Work Plan Outline – Proposed by
Staff
(All meetings currently scheduled for Wednesdays 5:30 p.m.)
January 30, 2019:
• Review of approved FAC terms of reference
• Review and approval of FAC 2019 Work Plan
• Agreement upon materials to be reviewed by FAC as part of detailed
departmental budget reviews
• Review of Budget Committee Schedule – 2019 Budget Process
April 24, 2019:
• Review of proposed multi-year budgeting framework for the Town of Aurora
• Receipt of first review department’s budget materials
• Identification of specific areas of focus for the first department to be reviewed
May 22, 2019:
• Detailed Budget Review: First Selected department (45 minutes)
June 26, 2019:
• Receipt of second department to be reviewed budget materials (review at next
meeting)
• Identification of specific areas of focus for the second department to be reviewed
September 25, 2019:
• Detailed Budget Review: Second selected department (45 minutes)
Finance Advisory Committee Meeting Agenda
Wednesday, January 30, 2019
Item 2
Page 1 of 1