MINUTES - Finance Advisory Committee - 20220614 1
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Tuesday, June 14, 2022
5:45 p.m.
Video Conference
Committee Members: Mayor Tom Mrakas (Chair)
Councillor Harold Kim
Councillor Michael Thompson
Other Attendees: Doug Nadorozny, Chief Administrative Officer
Rachel Wainwright-van Kessel, Director of Finance
Jason Gaertner, Manager, Financial Management
Sandeep Dhillon, Advisor, Financial Management
Linda Bottos, Council/Committee Coordinator
_____________________________________________________________________
1. Call to Order
The Chair called the meeting to order at 5:49 p.m.
2. Land Acknowledgement
The Committee acknowledged that the meeting took place on the traditional and
treaty territory of the Anishinaabe and many other Nations whose presence here
continues to this day, and that Aurora has shared responsibility for the
stewardship of this land. It was noted that Aurora is part of the treaty lands of the
Mississaugas of the Credit, recognized through Treaty #13 and the Williams
Treaties of 1923.
3. Approval of the Agenda
Moved by Councillor Thompson
Seconded by Councillor Kim
2
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, 2022
Moved by Councillor Thompson
Seconded by Councillor Kim
That the Finance Advisory Committee meeting minutes of May 9, 2022, be
received for information.
Carried
6. Delegations
None.
7. Matters for Consideration
7.1 Memorandum from Senior Financial Management Advisor: Re: Debt
Management Policy
Staff provided an overview of the memorandum. The Committee
expressed its support of the proposed Debt Management Policy and
appreciation to staff for their efforts.
The Committee inquired about internal financing and short-term debt, debt
scheduling for long- and short-term projects in relation to interest rates,
and long-term fixed rate debentures, and staff provided clarification. The
Committee made suggestions regarding the Town Debt website report
and inclusion of comparators in future reporting.
Moved by Councillor Thompson
Seconded by Councillor Kim
3
1. That the memorandum regarding Debt Management Policy be
received; and
2. That the Finance Advisory Committee comments regarding Debt
Management Policy be received and referred to staff for consideration
and further action as appropriate.
Carried
7.2 Memorandum from Manager, Financial Management; Re: Finance Advisory
Committee Council Term Summary
Staff provided an overview of the memorandum. The Committee
expressed its support of the summary and appreciation to its members
and staff for all efforts throughout the Council term toward improving the
corporate financial planning process.
Moved by Councillor Thompson
Seconded by Councillor Kim
1. That the memorandum regarding Finance Advisory Committee Council
Term Summary be received for information.
Carried
8. New Business
None.
9. Adjournment
Moved by Councillor Kim
Seconded by Councillor Thompson
That the meeting be adjourned at 6:09 p.m.
Carried