MINUTES - Finance Advisory Committee - 20210209 1
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Tuesday, February 9, 2021
5:45 p.m.
Video Conference
Committee Members: Councillor Harold Kim (Chair)
Mayor Tom Mrakas
Councillor Michael Thompson
Other Attendees: Doug Nadorozny, Chief Administrative Officer
Rachel Wainwright-van Kessel
Jason Gaertner, Manager, Financial Management
Ishita Soneji, Council/Committee Coordinator
_____________________________________________________________________
1. Procedural Notes
This meeting was held electronically as per Section 19. i) of the Town's
Procedure By-law No. 6228-19, as amended, due to the COVID-19 situation.
The Chair called the meeting to order at 5:54 p.m.
2. Approval of the Agenda
Moved by Mayor Mrakas
Seconded by Councillor Thompson
The agenda as circulated by Legislative Services, be approved.
Carried
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3. 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.
4. Receipt of the Minutes
4.1 Finance Advisory Committee Meeting Minutes of January 19, 2021
Moved by Mayor Mrakas
Seconded by Councillor Thompson
That the Finance Advisory Committee meeting minutes of January 19,
2021, be received for information.
Carried
5. Delegations
None.
6. Matters for Consideration
6.1 Memorandum from Manager, Financial Management; Re: Corporate
Revenues & Expenses Budget Line by Line Review
Staff provided a brief overview of the line-by-line review of the Corporate
Revenues and Expenses Budget, noting that this is the last line-by-line
review that will be conducted by the Finance Advisory Committee. The
Committee reviewed the budget materials and inquired about several line
items and variances. Staff provided clarification on the items including
budgets for bank charges, capital loan repayments, other revenue, audit
fees, and the industrial vacant land tax revenue class.
Moved by Mayor Mrakas
Seconded by Councillor Thompson
1. That the memorandum regarding the Corporate Revenues and
Expenses Budget Line by Line Review be received; and
2. That the comments and suggestions of the review of the detailed
financial information for the Corporate Revenue and Expenses Budget
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be received and referred to staff for consideration and action as
appropriate.
Carried
6.2 Memorandum from Administrative Assistant to Director, Finance; Re:
Internal Audit Status Update
Staff provided a brief update regarding the various internal audits
conducted in 2019 and 2020. The Committee inquired if any irregularities
were found with the WAMCO water reading software data and sought
clarification regarding improving process documentation, and staff
provided clarification. The Committee referred to the suggestions
regarding continuous improvements and inquired about the possibility of
formalizing a corporate wide continuous improvement process. Staff
provided a response noting that currently various foundational
approaches have already been implemented to mitigate the Town's
continuous improvement measures on an ongoing basis.
Moved by Councillor Thompson
Seconded by Mayor Mrakas
1. That the memorandum regarding Internal Audit Status Update be
received for information.
Carried
7. New Business
The Committee sought an update regarding the year-end financial impacts from
the ongoing COVID-19 pandemic, and staff provided a response noting that the
year-end process is ongoing, and a forecast update is forthcoming.
8. Adjournment
Moved by Mayor Mrakas
Seconded by Councillor Thompson
That the meeting be adjourned at 6:19 p.m.
Carried