MINUTES - Finance Advisory Committee - 20190522
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date: Wednesday, May 22, 2019
Time and Location: 5:30 p.m., Holland Room, Aurora Town Hall
Committee Members: Councillor Michael Thompson (Chair), Councillor John Gallo,
and Mayor Tom Mrakas
Member(s) Absent: None
Other Attendees: Bruce Gorman, CEO, Aurora Public Library, Julie Rocca,
Administrative Co-ordinator, Aurora Public Library, Marie
Rankel and Adam Mobbs, Aurora Public Library Finance
Sub-Committee Members, Doug Nadorozny, Chief
Administrative Officer, Jason Gaertner, Acting Director of
Financial Services/Treasurer, Karen Oreto, Financial
Analyst, Tracy Evans, Financial Analyst, Budget, and Ishita
Soneji, Council/Committee Coordinator
The Chair called the meeting to order at 5:30 p.m.
1. Approval of the Agenda
Moved by Councillor Gallo
Seconded by Mayor Mrakas
That the agenda as circulated by Legislative Services be approved.
Carried
Finance Advisory Committee Meeting Minutes
Wednesday, May 22, 2019 Page 2 of 4
2. Declarations of Pecuniary Interest and General Nature Thereof
There were no declarations of pecuniary interest under the Municipal Conflict of
Interest Act, R.S.O. 1990, c. M.50.
3. Receipt of the Minutes
Finance Advisory Committee Meeting Minutes of April 30, 2019
Moved by Mayor Mrakas
Seconded by Councillor Gallo
That the Finance Advisory Committee meeting minutes of April 30, 2019, be
received for information.
Carried
4. Delegations
None
5. Consideration of Items
1. Memorandum from Acting Director of Financial Services
Re: Updated Draft Council Budget Principles and Processes Direction
Documents
Staff provided a brief overview of the updated Council Budget Principles and
Processes documents. The Committee inquired about the next steps of the
budget process and staff noted that upon approval from Council, staff would
work towards the budget milestones as identified at the previous Committee
meeting.
Moved by Councillor Gallo
Seconded by Mayor Mrakas
1. That the memorandum regarding Updated Council Budget Principles and
Processes Direction Documents be received; and
Finance Advisory Committee Meeting Minutes
Wednesday, May 22, 2019 Page 3 of 4
2. That the updated Council Budget Principles and Processes documents be
brought to a future General Committee meeting.
Carried
2. Review of Detailed Financial Budget Information
Re: Aurora Public Library
Mr. Bruce Gorman, CEO of the Aurora Public Library provided details of the
line-by-line analysis and year-to-date comparison of the budget for the Aurora
Public Library including details on the 2017 and 2018 surpluses, explanations
regarding the highlighted items, impacts of the Provincial funding cuts to the
library, means of maintaining funds allocated in the capital reserve, various cost
avoidance strategies, budget pressures, and accomplishments. It was
mentioned that the Library is awaiting a response regarding next steps from the
Southern Ontario Library Service (SOLS) regarding provincial funding cuts.
The Committee and Library staff discussed about the means of utilizing
surpluses and the Library staff noted that they are working towards a growth
accommodation study that would contribute to their development of a ten year
capital plan for the Library that would further demonstrate their intentions for
established reserve balances.
Moved by Mayor Mrakas
Seconded by Councillor Gallo
1. That the comments and suggestions of the Review of Detailed Financial
Budget Information for Aurora Public Library be received and referred to
staff for consideration and action as appropriate.
Carried
3. Memorandum from Project Management Office
Re: Town’s Major Capital Projects Update
Staff provided a brief update on the status of Town’s current major capital
projects and noted that all projects are meeting the budget targets.
Finance Advisory Committee Meeting Minutes
Wednesday, May 22, 2019 Page 4 of 4
Moved by Councillor Gallo
Seconded by Mayor Mrakas
1. That the memorandum regarding Town’s Major Capital Projects Update be
received for information.
Carried
4. Distribution and Introduction of Detailed Financial Budget Information
Re: Aurora Historical Society
Staff noted that additional budget information for the Aurora Historical Society
(AHS) is forthcoming, and that representatives from AHS will be present at the
next meeting to review the information.
Moved by Mayor Mrakas
Seconded by Councillor Gallo
1. That the detailed financial budget information for Aurora Historical Society
be received and deferred for discussion and detailed review at the June 26,
2019 meeting of the Finance Advisory Committee.
Carried
6. New Business
Staff referred to Report No. FS19-018 – Capital Close Report as of December 31,
2018, that was referred to the Finance Advisory Committee by General Committee
at its meeting of May 7, 2019, and sought Committee’s input on any items of
interest that require further detail. Staff noted that the report would be brought to a
future Committee meeting for discussion.
7. Adjournment
Moved by Mayor Mrakas
Seconded by Councillor Gallo
That the meeting be adjourned at 6:45 p.m.
Carried