Minutes - Audit Committee - 20240625
Town of Aurora
Audit Committee
Meeting Report
Date:
Time:
Location:
Tuesday, June 25, 2024
6:15 p.m.
Council Chambers, Aurora Town Hall
Council Members: Mayor Tom Mrakas (Chair)
Councillor Ron Weese
Councillor Wendy Gaertner
Councillor Michael Thompson
Councillor Harold Kim
Members Absent: Councillor Rachel Gilliland
Councillor John Gallo
Other Attendees: Doug Nadorozny, Chief Administrative Officer
Rachel Wainwright-van Kessel, Director of Finance
Elizabeth Adams-Quattrociocchi, Manager, Financial Reporting
and Revenue/Deputy Treasurer
Jason Gaertner, Manager, Financial Management/Deputy
Treasurer
Michael de Rond, Town Clerk
Linda Bottos, Council/Committee Coordinator
_____________________________________________________________________
1. Call to Order
The Mayor called the meeting to order at 6:17 p.m.
Audit Committee consented to recess the meeting at 6:22 p.m. and reconvened
the meeting at 6:33 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,
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Tuesday, June 25, 2024 2
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.
3. Approval of the Agenda
Audit Committee approved the agenda as circulated by Legislative Services.
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. Delegations
None.
6. Consideration of Items Requiring Discussion
6.1 FIN24-031 - 2023 Audited Financial Statements and Audit Report
Item 6.1 was considered following consideration of item 6.2.
Maria Khoushnood, Lead Audit Engagement Partner, KPMG, presented an
overview of the 2023 audit findings report including status, materiality,
significant risks and results, other risks of material misstatement and
results, uncorrected and corrected misstatements, and new accounting
standards.
Audit Committee recommends:
1. That Report No. FIN24-031 be received; and
2. That the 2023 Audit Reports and Financial Statements for the year
ended December 31, 2023, be approved and published on the Town’s
website.
Carried
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Tuesday, June 25, 2024 3
6.2 FIN24-032 - 2023 Year-End Operating and Capital Results - as of Dec. 31,
2023
Audit Committee recommends:
1. That Report No. FIN24-032 be received for information.
Carried
7. Adjournment
The meeting was adjourned at 6:41 p.m.