MINUTES - Finance Advisory Committee - 20230613
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Tuesday, June 13, 2023
5:45 p.m.
Holland Room, Aurora Town Hall
Committee Members: Mayor Tom Mrakas (Chair)
Councillor Michael Thompson (Vice Chair)
Councillor Ron Weese
Other Attendees: Councillor Wendy Gaertner
Councillor Rachel Gilliland
Doug Nadorozny, Chief Administrative Officer
Robin McDougall, Director, Community Services
Rachel Wainwright-van Kessel, Director, Finance
Jason Gaertner, Manager, Financial Management
Phil Rose, Manager, Cultural Services
Palak Mehta, Council/Committee Coordinator
_____________________________________________________________________
1. Call to Order
Mayor Mrakas called the meeting to order at 5:45 p.m.
2. Land Acknowledgement
The Committee acknowledged that the meeting took place on Anishinaabe lands,
the traditional and treaty territory of the Chippewas of Georgina Island,
recognizing the many other Nations whose presence here continues to this day,
the special relationship the Chippewas have with the lands and waters of this
territory, and that Aurora has shared responsibility for the stewardship of these
lands and waters. It was noted that Aurora is part of the treaty lands of the
Mississaugas and Chippewas, recognized through Treaty #13 and the Williams
Treaties of 1923.
Finance Advisory Committee Meeting Minutes
Tuesday, June 13, 2023 2
3. Approval of the Agenda
Moved by Councillor Weese
Seconded by Councillor Thompson
That the agenda as circulated by Legislative Services be approved.
Carried
4. 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.
5. Receipt of the Minutes
5.1 Finance Advisory Committee Meeting Minutes of May 9, 2023
Moved by Councillor Weese
Seconded by Councillor Thompson
1. That the Finance Advisory Committee Meeting Minutes of May 9, 2023
be received for information.
Carried
6. Delegations
None.
7. Matters for Consideration
7.1 Memorandum from Manager of Cultural Services; Re: Aurora Town Square
Budget Update
Phil Rose, Manager, Cultural Services, accompanied by Robin McDougall,
Director, Community Services, presented an overview of the memorandum
outlining relevant background information, the original business plan and
financial strategy for Town Square approved in March 2019, which was
based upon a Municipal Services Board (MSB) model, versus a Not-for-
Profit/Municipal Hybrid Model, budget summary and strategy.
Finance Advisory Committee Meeting Minutes
Tuesday, June 13, 2023 3
The Committee inquired about the key expenditure and revenue
differences between the original business and the proposed version.
Feedback was provided to staff asking that more information about the
Aurora Cultural Centre (ACC) and Aurora Public Library, community
partner organizations, and differences between the Municipal Services
MSB model and Not-for-Profit/Municipal Hybrid model be included in a
future report. The Committee also requested additional details regarding
the breakdown of the net incremental funding requirement.
The Committee sought clarity of the Aurora Town Square’s (ATS) revenue
model and suggested reviewing its business plan and projections over a 2
to 3-year planning horizon would be more beneficial in understanding the
ATS’ cost recovery performance.
The Committee inquired about the potential effects on the Town’s service
agreement with the ACC and sought clarification on the ACC’s and
Library’s roles in the ATS’ ongoing operations. Staff provided information
regarding ongoing discussions with the ACC about the business plan and
financial strategy, resources needed to operate the Town Square facility,
and the Cultural Services Agreement.
The Committee inquired if the noted $350,000 pressure included any
additional resources for the ACC. Staff advised that the draft multi-year
budget to be presented to Council in the fall will include incremental
requirements for the ACC, and that there will be opportunities for the ACC
to consider service expansion possibilities and all associated incremental
costs.
The Committee and staff further discussed the inclusion of donations and
public sponsorships revenues in the operating budget. Staff confirmed
that no proceeds of this nature have been included in the presented
budget plan. Staff advised that as per previous Council direction, these
proceeds have been allocated in support of the ATS’ capital costs.
The Committee inquired about the operating budget, and staff provided a
breakdown of the approved Aurora Museum and Archives and facility
funding. The Committee also provided feedback on the number of events
being planned identified in the budget.
Finance Advisory Committee Meeting Minutes
Tuesday, June 13, 2023 4
Moved by Councillor Thompson
Seconded by Councillor Weese
1. That the memorandum regarding the Aurora Town Square Budget
Update be received; and
2. That the Finance Advisory Committee comments regarding the Aurora
Town Square Budget Update be received and referred to staff for
consideration and further action as appropriate.
Carried
7.2 Memorandum from Project Management Office; Re: Town's Major Capital
Projects Update
The Committee and staff discussed various aspects of the Town Square
project including: the remaining project scope, accuracy of project
timelines regarding substantial report completion by summer 2023 and
total project completion by fall 2023, and the potential budget overruns
due to post-project claims that Chandos will submit due to the schedule
extension.
The Committee and staff further discussed the financial system project,
and staff confirmed that Phase 3a and its implementation was completed
on May 31, 2023.
Moved by Councillor Weese
Seconded by Councillor Thompson
1. That the memorandum regarding Town’s Major Capital Projects
Update be received; and
2. That the Finance Advisory Committee comments regarding the Town’s
Major Capital Projects Update be received and referred to staff for
consideration and further action as appropriate.
Carried
7.3 Memorandum from Senior Financial Management Advisor; Re: Reserve
Management Policy
Staff provided an overview of the memorandum regarding the Reserve
Management Policy, including items recommended as part of the fiscal
Finance Advisory Committee Meeting Minutes
Tuesday, June 13, 2023 5
strategy as it relates to the reserve management pillar, documenting
practices to ensure healthy reserves, and advised that the capital plan
would be adequately funded and supported.
The Committee inquired about the included graph representing an
examination of the Town’s year end capital reserve balances over a ten-
year time horizon. Staff provided additional information regarding the
expected draws on these reserves based on the current capital plan, asset
cycles, growth of reserves, and funds available to replace assets.
The Committee further inquired about the potential capital reserve risk
factors. Staff identified areas of risk, such as the Town’s collection of
future development charges in support of Parks and Recreation
requirements like the proposed Stronach Aurora Recreation Complex
(SARC). Staff provided a response with respect to project revaluation and
growth.
Moved by Councillor Weese
Seconded by Councillor Thompson
1. That the memorandum regarding Reserve Management Policy be
received; and
2. That the Finance Advisory Committee comments regarding the
Reserve Management Policy be received and referred to staff for
consideration and further action as appropriate.
Carried
8. New Business
None.
9. Adjournment
Moved by Councillor Weese
Seconded by Councillor Thompson
That the meeting be adjourned at 6:35 p.m.
Carried