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MINUTES - Finance Advisory Committee - 20210511 1 Town of Aurora Finance Advisory Committee Meeting Minutes Date: Time: Location: Tuesday, May 11, 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, Director of Finance Jason Gaertner, Manager, Financial Management Tracy Evans, Advisor, Financial Management Eliza Bennett, Interim Manager, Corporate Communications Lianne Jalali, Project Manager Cindy Shaver, Communications Specialist and Community Engagement Linda Bottos, 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 5:47 p.m. 2. Approval of the Agenda Moved by Councillor Thompson Seconded by Mayor Mrakas That the agenda as circulated by Legislative Services be approved. Carried 2 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 April 13, 2021 Moved by Councillor Thompson Seconded by Mayor Mrakas That the Finance Advisory Committee meeting minutes of April 13, 2021, be received for information. Carried 5. Delegations None. 6. Matters for Consideration 6.1 Memorandum from Manager, Financial Management; Re: 2022 Budget Engagement Strategy Staff provided a brief overview of the memorandum. The Committee inquired about the metric values for the objectives of the proposed strategy, and staff provided clarification regarding the tools, measures, and benchmarks being applied to encourage and gauge public awareness and participation in the budget process. The Committee inquired about the role of media, and staff noted the intent to provide the opportunity for education on the municipal budget toward building the trust and confidence of media members and, by extension, the community. The Committee further inquired about the possibility of educating residents on municipal debt financing and the challenges of downloaded costs from higher levels of government over the past decades. Staff noted that debt financing and other tools would be highlighted in an upcoming report on the Town's fiscal strategy. Staff also indicated that funding gaps would be identified through review of the budget, asset management plan, reserve 3 plan and forecasting, and any available grant funding would be sought from the federal and provincial governments. Moved by Councillor Thompson Seconded by Mayor Mrakas 1. That the memorandum regarding 2022 Budget Engagement Strategy be received; and 2. That the Finance Advisory Committee comments regarding the proposed 2022 Budget Engagement Strategy be received and referred to staff for consideration and further action as appropriate. Carried 6.2 Memorandum from Project Management Office; Re: Town's Major Capital Projects Update Staff provided an overview of the memorandum highlighting aspects of the five major capital projects currently underway. The Committee inquired about the process to determine which projects are included in the update report and suggested that a framework be established on how to classify major capital projects. The Committee further suggested that the overall status update, including key milestones, for the Financial System and IT Strategic Plan Implementation projects also be included in the attachment to the report. The Committee inquired about the Library Square project with reference to the number of change notices/orders and project schedule. Staff provided clarification noting that a mitigation plan was in place to ensure the project remains on budget and confirmed that the project is expected to be completed on time. The Committee inquired about the Fire Hall 4-5 project with reference to the approved change orders and staff provided clarification. The Committee inquired about the Financial System project with reference to the system requirements and whether there would be capability for future add-ons. Staff provided clarification regarding the consultant's scope and subscription/cloud-based systems that allow for more timely upgrades. 4 Moved by Councillor Thompson Seconded by Mayor Mrakas 1. That the memorandum regarding Town's Major Capital Projects Update be received for information. Carried 6.3 Memorandum from Director, Finance; Re: Financial System Project Update Staff provided a brief overview of the memorandum and progress to date. The Committee inquired about the estimated cost of staff time dedicated to the project and staff provided clarification on the project management and staffing resource requirements. The Committee inquired about the tax billing system developed by the City of Mississauga and it was confirmed that staff have received a demonstration of the system and the City of Mississauga would provide full servicing and support for the system. Moved by Councillor Thompson Seconded by Mayor Mrakas 1. That the memorandum regarding Financial System Project Update be received; and 2. That the Finance Advisory Committee comments regarding the Financial System Project Update be received and referred to staff for consideration and further action as appropriate. Carried 7. New Business None. 8. Adjournment Moved by Councillor Thompson Seconded by Mayor Mrakas That the meeting be adjourned at 6:35 p.m. Carried