MINUTES - Finance Advisory Committee - 20210413 1
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Tuesday, April 13, 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
Sandeep Dhillon, Senior Advisor, Financial Management
Ishita Soneji, Council/Committee Coordinator
_____________________________________________________________________
1. Procedural Notes
This meeting will be 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 5:46 p.m.
2. Approval of the Agenda
Moved by Mayor Mrakas
Seconded by Councillor Thompson
That 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 March 8, 2021
Moved by Mayor Mrakas
Seconded by Councillor Thompson
That the Finance Advisory Committee meeting minutes of March 8, 2021,
be received for information.
Carried
5. Delegations
None.
6. Matters for Consideration
6.1 Memorandum from Senior Financial Management Advisor; Re: Draft Fiscal
Strategy
Rachel Wainwright-van Kessel, Director of Finance and Treasurer, provided
a presentation regarding the draft fiscal strategy highlighting the financial
sustainability and fiscal strategy framework, and the four fiscal strategic
pillars: capital planning, reserve management, debt management, and
revenue management. She further provided details on the strategic
objectives within each pillar, and the next steps regarding the
implementation including the development of a detailed supporting
strategic action plan and means of reporting and monitoring progress. It
was mentioned that the final fiscal strategy would be brought to a General
Committee meeting of June 1, 2021 for Council's consideration.
The Committee and staff discussed about various aspects of the fiscal
strategy such as means of managing growth within each strategic pillar,
the overall fiscal status of the Town, and the importance of the fiscal
strategy in analyzing the necessary factors in managing the future growth
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of the Town. The Committee and staff further discussed about the role of
the fiscal strategy in managing the long-term asset management plan. The
Committee inquired about the status of the Town's current and future
investment strategy and provided further feedback regarding the draft
fiscal strategy document. The Committee suggested that staff produce a
condensed version of the fiscal strategy for public information.
Moved by Councillor Thompson
Seconded by Mayor Mrakas
1. That the memorandum regarding the Draft Fiscal Strategy be received;
and
2. That the Finance Advisory Committee comments regarding the Draft
Fiscal Strategy be received and referred to staff for consideration and
further action as appropriate.
Carried
7. New Business
The Committee inquired about the efforts to improve public participation during
the upcoming budget deliberations. Staff provided a response noting that staff
are working on the 2022 budget public engagement strategy which will include
opportunities for the public to participate virtually and noted that more
information is forthcoming.
8. Adjournment
Moved by Councillor Thompson
Seconded by Mayor Mrakas
That the meeting be adjourned at 6:35 p.m.
Carried