Agenda - Finance Advisory Committee - 20240409Town of Aurora
Finance Advisory Committee
Meeting Agenda
Date:Tuesday, April 9, 2024
Time:5:45 p.m.
Location:Holland Room, Aurora Town Hall
Meetings are available to the public in person and via live stream on the Town’s YouTube channel.
To participate, please visit aurora.ca/participation.
Pages
1.Call to Order
2.Land Acknowledgement
3.Approval of the Agenda
4.Declarations of Pecuniary Interest and General Nature Thereof
5.Receipt of the Minutes
5.1 Finance Advisory Committee Meeting Minutes of February 13, 2024 1
That the Finance Advisory Committee Meeting Minutes of
February 13, 2024, be received for information.
1.
6.Delegations
7.Matters for Consideration
7.1 Memorandum from Financial Management Advisor; Re: Budget Review
the Aurora Historical Society
5
That the memorandum regarding the Budget Review of the
Aurora Historical Society be received; and
1.
That the Finance Advisory Committee comments regarding the
Budget Review of the Aurora Historical Society be received and
referred to staff for consideration and further action as
appropriate.
2.
7.2 Memorandum from Project Management Office; Re: Capital Project
Portfolio Update
17
That the memorandum regarding the Town’s Capital Project
Portfolio Update be received for information.
1.
7.3 Memorandum from Project Management Office; Re: Municipal Service
Delivery Review Update
21
That the memorandum regarding the Town’s Municipal Service
Delivery Review be received for information.
1.
8.New Business
9.Adjournment
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Tuesday, February 13, 2024
5:45 p.m.
Holland Room, Aurora Town Hall
Committee Members: Mayor Tom Mrakas (Chair)
Councillor Michael Thompson
Councillor Ron Weese
Other Attendees: Rachel Wainwright-van Kessel, Director, Finance
Jason Gaertner, Manager, Financial Management
Tracy Evans, Advisor, Financial Management*
Emily Freitas, Council/Committee Coordinator
*Attended electronically
_____________________________________________________________________
1. Call to Order
The Chair called the meeting to order at 5:46 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.
Page 1 of 27
Finance Advisory Committee Meeting Minutes
Tuesday, February 13, 2024 2
3. Approval of the Agenda
Moved by Councillor Thompson
Seconded by Ron Weese
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 January 23, 2024
Moved by Ron Weese
Seconded by Councillor Thompson
1. That the Finance Advisory Committee Meeting Minutes of January 23,
2024, be received for information.
Carried
6. Delegations
None.
7. Matters for Consideration
7.1 Memorandum from Financial Management Advisor; Re: 2024-25 Finance
Advisory Committee Workplan
Moved by Ron Weese
Seconded by Councillor Thompson
1. That the memorandum regarding the 2024-25 Finance Advisory
Committee Workplan be received; and
Page 2 of 27
Finance Advisory Committee Meeting Minutes
Tuesday, February 13, 2024 3
2. That the Finance Advisory Committee comments regarding the 2024-
25 FAC Workplan be received and referred to staff for consideration
and further action as appropriate.
Carried
7.2 Memorandum from Financial Management Advisor; Re: Budget Review of
the Aurora Cultural Centre (ACC)
Suzanne Haines, Executive Director, John De Faveri, President, and
Michelle Lockie, Treasurer, from the Aurora Cultural Centre, accompanied
by staff, presented a breakdown of their budget review, including financial
statements and investments made. They provided a breakdown of the
Aurora Cultural Centre's grants and expenses with a focus on 2023, the
independent auditor's report, and Church Street School Cultural Centre's
report.
The Committee discussed the Aurora Cultural Centre's fundraiser
strategies, grants received for fundraising and the relationship with
funders, the increase in the marketing budget for 2024 as a result of new
programs and services at Town Square, earned revenues, and the decline
in displacement cost from Town Square.
Moved by Councillor Thompson
Seconded by Ron Weese
1. That the memorandum regarding a Budget Review of the Aurora
Cultural Centre (ACC) be received; and
2. That the Finance Advisory Committee comments regarding the Budget
Review of the Aurora Cultural Centre (ACC) be received and referred to
staff for consideration and further action as appropriate.
Carried
8. New Business
None.
Page 3 of 27
Finance Advisory Committee Meeting Minutes
Tuesday, February 13, 2024 4
9. Adjournment
Moved by Councillor Thompson
Seconded by Ron Weese
That the meeting be adjourned at 6:12 p.m.
Carried
Page 4 of 27
100 John West Way
Aurora, Ontario
L4G 6J1
(905) 727-3123
aurora.ca
Town of Aurora
Memorandum
Finance
Re: Budget Review the Aurora Historical Society
To: Finance Advisory Committee
From: Tracy Evans, Financial Management Advisor
Date: April 9, 2024
Recommendation
1. That the memorandum regarding the Budget Review of the Aurora Historical Society
be received; and
2. That the Finance Advisory Committee comments regarding the Budget Review of the
Aurora Historical Society be received and referred to staff for consideration and
further action as appropriate.
Background
As per its budget process document, the Finance Advisory Committee is required to
undertake a detailed review of each department and community service partner’s core
operating budgets prior to the conclusion of the Council term. These detailed reviews
allow for a more strategic review of the Town’s draft operating budgets by the Budget
Committee. During the course of these detailed reviews any arising budget concern
areas can be explored and addressed as part of a future Town budget process.
Attachments
1 – Aurora Historical Society detailed budget materials
Page 5 of 27
2018
Audited
2019
Audited
2020
Audited
2021
Audited
2022
Audited
2023
Projected -
Unaudited
2024
Forecast
2025
Forecast
2026
Forecast
Operating
Revenue $16,409 $11,454 $11,382 $27,089 $22,226 $16,195 $15,850 $16,250 $16,750
Donations &
Fundraising $61,816 $42,728 $14,132 $61,725 $82,730 $12,733 $15,000 $27,000 $20,000
Municipal
Funding $79,500 $77,900 $81,675 $82,830 $84,600 $88,597 $85,900 $87,600 $89,400
Grant Revenue $22,091 $24,640 $24,631 $61,755 $31,877 $35,036 $28,042 $25,242 $25,242
COVID-19
Funding $0 $0 $15,556 $38,804 $44,935 $0 $0 $0 $0
Total Revenue $179,816 $156,722 $147,376 $272,203 $266,368 $152,561 $144,792 $156,092 $151,392
Operating
Expenses $147,886 $128,029 $96,716 $126,129 $207,000 $200,748 $185,225 $145,900 $149,800
Fundraising
Expenses $25,091 $16,944 $2,982 $29,625 $32,665 $6,559 $7,000 $5,000 $5,000
Restoration
Costs $0 $0 $3,653 $43,183 $58,794 $5,000 $0 $0 $0
Total Expenses $172,977 $144,973 $103,351 $198,937 $298,459 $212,307 $192,225 $150,900 $154,800
Operating
Surplus/Deficit $6,839 $11,749 $44,025 $73,266 -$32,091 -$59,746 -$47,433 $5,192 -$3,408
Transfer in/out
from Reserves $0 +$11,749 (in)+$21,995 (in)-$38,836 (out)-$44,692 (out)$0 $0 $0 $0
Attachment 1Page 6 of 27
AURORA HISTORICAL SOCIETY
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2022
BATEMAN, GRAHAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOI.JNTANTS
Page 7 of 27
BATEMAN, GI{AIIAM & FITZPATRICK crmrrnno pRoFEssroNAL Accor.rNrANrs
IOHN P BATEMAN, BBA, CPA, CA" LPA" CPA (Illinois)*
SCOTT A FITZPATRICK MBA' CPA' CAv CMA' LPA CPA (Illinois)*
SCOTT R IUDGES, BBA, CPA" CA" LPA*
DOI{ALD PEYLE BA" CPA" CA-Associate
* opentingthrough a professional corporation
TELEPHONE: (90s) 895-9457
1-888-895-91157
FACSIMILE: (90s) 895-8519
1.8n-895-8575
757 Bogart Avenue, Newmarket ON I3Y 2A7 E-MAIL: info@batemangraham.com
INDEPENDENT AUDITORS' REPORT
To the Board of Directors
Aurora Historical Society
Qualified Opinion
We have audited the financial statements of Aurora Historical Society (the "Society"), which comprise the statement of
financial position as at Decemb er 31, 2022, statement of operations and net assets, statement of cash flows for the year then
ended, and notes to the financial statements including a summary of significant accounting policies.
In our opinion, except for the possible effects of the matter described in the Basri for Qualified Opinion section of our
report, the accompanying financial statements present fairly, in all material respects, the financial position of the Society as
at December 31,2022, its financial performance and its cash flows forthe yearthen ended in accordance with Canadian
accounting standards for not-for-profit organizations.
Basis for Qualified Opinion
In common with many not-for-profit organizations, the Society derives revenue from donations and fund-raising activities,
the completeness of which is not susceptible to satisfactory audit verification. Accordingly, verification of these revenues
was limited to the amounts recorded in the records of the Society. Therefore, we were not able to determine whether any
adjustments might be necessary to revenues, contributions, general fund - shortfall ofrevenue over expenditures, and cash
flows from operations for the years ended December 31,2022 and2021, current assets as at December 31,2022 and202l
and net assets as at January I and December 3 I for both 2022 and 2021 . Our audit opinion on the financial statements for
the year ended December 3 l, 2022 was modified accordingly because of the possible effects of this limitation in scope.
We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under
those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of
our report. We are independent of the Society in accordance with the ethical requirements that are relevant to our audit of
the financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a qualified basis
for our opinion,
Emphasis of Matter - Amended Financial Statements
We draw attention to Note l0 to the financial statements, which describes that the financial statements that we originally
reported on June 12, 2023 have been amended and describes the matter that gave rise to the amendment of the financial
statements. Our opinion is not modified in respect of this matter.
Responsibilities of Management and Those Charged with Governance for the Financial Stotements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with Canadian
accounting standards for not-for-profit organizations, and for such internal control as management determines is necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Society's ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Society or to cease operations, or has no realistic alternative but to do so.
Those charged with govemance are responsible for overseeing the Society's financial reporting process.
Page 8 of 27
Auditors' Responsibilities for the Audit of the Financial Stqtements
Our objectives are to obtiin reasonable assurance about whether the financial statements as a whole are free from material
misstatlment, whether due to fraud or eror, and to issue an auditors' report that includes our opinion. Reasonable assurance
is a high level ofassurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted
auditirig standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and
are considered material it individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment
and maintain professional skepticism throughout the audit. We also:
o Identiff and assess the risks of material misstatement of the frnancial statements, whether due to fraud or eror'
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion, The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
o Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Society's internal control.
o Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
o conclude on the appropriateness ofmanagement's use ofthe going concern basis ofaccounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Society's ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor's report to the related disclosures in the flrnancial statements
or, if such disclosures are inadequate, to modifi our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditors' report. However, future events or conditions may cause the Society to cease
to continue as a going concern'
o Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any signihcant deficiencies in internal control that we identifl during our
audit.
+
Chartered Professional Accountants
Licensed Public Accountants
Newmarket, Ontario
June 12, 2023, exceptas to Note 10, which is as at September 15,2023
6*e*^H^r*
Page 9 of 27
AURORA HISTORICAL SOCIETY
STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER3L,2022
See accompanying notes to the financial statements
BATEMAN, GRAHAM & FITZPATRICK
CHARTERED PROFESSIONAI ACCOUNTANTS
$ 182,983 $
63,640
9,983
9.819
223,336
63,640
27,745
8.1 75
2022 2021
ASSETS
Current
Cash
Short-term investments (Note 3)
Accounts receivable and accrued interest
Prepaid expenses
FIXED (Note 4)
LIABILITIES
Current
Accounts payable and accrued expenses (Note 9, l0)
Deferred revenue (Note 8)
LONG-TERM DEBT (Note 6)
NET ASSETS (Note 7)
Invested in capital assets
Unrestricted
Restricted - Medical History Course (unchanged)
Restricted - Building and Grounds Fund
On behalf of the Board
Director
Director
322,896
10.806
$ 274.885 $___333J02_
$42,938 $
5 001
9,255
s-41 0
47,939 14,665
47.939 7 4 665
8,460
212,105
2,747
3.634
10,806
197,158
2,747
48.326
226.946 25 s 017
$ 274.88s $___333J02_
266,425
8.460
Page 10 of 27
AURORA HISTORICAL SOCIETY
STATEMENT OF OPERATIONS AND NET ASSETS
FOR THE YEAR ENDED DECEMBER3L,2022
2022
s 161,412
10,805
31,499
16,259
44,803
1.590
$ 1 83,3 89
17,080
9,478
20,989
550
3 8,1 07
2.610
2021
REVENUES
Grants
Sales and other income
Donations and fundraising
Special events
Investment
Hillary House ball
Membership
EXPENDITURES
Depreciation
Wages and benefits (Note 6)
Fundraising
Insurance
Professional fees (Note 10)
Office and miscellaneous
Repairs and maintenance
Readman project expenses
Restoration
Restoration - building and grounds fund
Hillary House ball expenses
Special event expenses
Program
Utilities
Curatorial and collection
(DEFTCIENCY) EXCESS OF REVENUBS OVER
EXPENDITT]RES FOR THE YEAR
NET ASSETS, beginning of year
NET ASSETS, end of year
266.368 .203
2,346
112,444
1,130
10,5 83
35,421
I 1,590
16,122
2,003
14,102
44,692
26,006
9,221
983
6,203
5.61 3
1,887
66,956
732
10,282
5,317
11,725
14,789
1,953
4,347
38,836
23,729
8,553
250
5,209
4.372
298.459 198.937
(32,091)
259.037
s 226.946
73,266
185.771
s 2s9.037
See accompanying notes to the financial statements
BATEMAN, GRAHAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOLTNTANTS
Page 11 of 27
AURORA HISTORICAL SOCIETY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBBR3L,2022
2022 2021
souRCEs (usEs) oF GASH:
OPERATING ACTIVITIES
(Deficiency) excess ofrevenues over expenditures for the year
Items not involving cash
Depreciation
Forgiveness ofdebt
Changes in non-cash working capital items
Short-term investments
Accounts receivable and accrued interest
Prepaid expenses
Accounts payable and accrued expenses
Deferred revenue
II\TVE STING AC TTVITIE S
Purchase of capital assets
Repayment of long-term debt
NBT (DECREASE) INCREASE IN CASH
CASH, beginning of year
CASII, end of year
$ (32,091) $
2,346
73,266
1,887
(49,745) 75,153
17,762
(1,644)
33,683
(409)
( 1,073)
(t8,221)
(ee0)
t97
1 152
(3 s3)56.418
(8,020)
(40.000)
(40.000)
(40,353)
223.336
$ 182.983
48,398
r74.938
s 223.33L
See accompanying notes to the financial statements
BATEMAN, CRAHAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOTINTANTS
(8.020)
Page 12 of 27
l.
AURORA HISTORICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER3L,2022
OPERATIONS
Aurora Historical Society is a non profit organization, incorporated without share capital,
devoted to the preservation and sharing of Aurora's history. The organization is funded by
various government agencies, charitable organizations, donations and fundraising efforts.
The organization is exempt from federal and provincial income taxes'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
These financial statements have been prepared in accordance with Canadian accounting
standards for not-for-profit organizations and are in accordance with Canadian generally
accepted accounting principles, the most significant of which are summarized as follows:
Use of estimates
The preparation of financial statements in conformity with generally accepted accounting
principlei requires management to make estimates and assumptions that affect the reported
umourtr of aisets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenue and expense during the year. These
amounts are reviewed periodically and any adjustments are reported in earnings in the period
they become known. The principal estimates used in the preparation of these financial
statements include useful life and valuation of fixed assets and accruals. Actual results could
differ from management's best estimates as additional information becomes available in the
future.
Revenue recognition
Revenues from government ministries and foundations are recognized when the Society has met
the terms of any related contracts. Amounts received but where the Society has not met the
conditions ofthe contract are recognized as deferred revenues.
Donations and other revenues are recorded as received.
Fixed assets
Fixed assets are stated at cost. Depreciation is calculated on the diminishing balance basis over
the estimated useful lives of the assets. The percentages used are as follows:
Equipment - 20%
Computer equipment ' 30%
Contributed seruices and materials
Donated services received by the organization are not recognized in the financial statements
because of the difficulty in determining their fair value.
Donated materials received by the organization are recognized in the financial statements at fair
market value.
BATEMAN, GRA}IAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOIJNTANTS
2
Page 13 of 27
3.
AURORA HISTORICAL SOCIETY
NOTES TO THE FINAI\CIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER3L,2022
Financial instruments
Measurements of financ ial instruments
The organization initially measures its financial assets and financial liabilities at fait value. It
subsequently measures all its financial assets and financial liabilities at amortized cost.
Financial assets measured at amortized cost include cash and accounts receivable.
Financial liabilities measured at amortized cost include accounts payable and deferred revenue.
Impairment
Financial assets measured at cost are tested annually for impairment. If there are indicators of
impairments, the amount of the write-down is recognized in net income.
Fund accounting
The organization follows the restricted fund accounting method. Restricted contributions for
which a corresponding restricted fund is presented are recognized as revenue ofthat fund in the
current period. Unrestricted contributions are recognized as unrestricted revenue of the
unrestricted fund in the current period.
Unrestricted funds
The unrestricted funds are amounts that are available for use to carry out the activities of the
organization.
Invested in capital assets
Invested in capital assets fund consists of net fixed assets, including purchases, disposals and
amortization.
Restrictedfunds - Medical History Course
Approximately 25 years ago, the organization was a member of the British Apothecary Society
and this fund was established to provide related courses.
Restricted Funds - Building and Grounds Fund
The building and grounds fund is internally restricted by the Board of Directors to the restoration
and rehabilitations of the Hillary House.
SHORT.TERM IIYVESTMENTS
Short-term investments are comprised of cashable GIC's of $63,663 (2021 - $62,772), maturing
August 4,2023 (2021 - August 9,2022). The interest rate is prime minus 4.70%o (2021 -2,24%).
BATEMAN, GRAHAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOUNTANTS
Page 14 of 27
AURORA HISTORICAL SOCIETY
NOTES TO THE FINAI\CIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER3L,2022
4. FIXED ASSETS
Equipment
Balance, beginning of year
Depreciation
Computer equipment
Balance, beginning of year
Depreciation
Hillary House land and building
Balance, beginning and end ofyear
Hillary House, The Koffler Museum
Balance, beginning and end ofyear
6.
s 27.441 20.278
$ I1,268 9,418
555
$ l1.268 ______99J3_
$
$
s 27,441
Accumulated
Depreciation
18,487
1.791
8,954
7.163
1,850
555
1.295
TOTALS s 38.71I $ 30.251 s 8^460
5. FINANCIAL RISK
Liquidity risk
Liquidity risk is that the organization will be unable to fulfill its obligations on a timely basis or
at reasonable cost. Management manages liquidity risk by monitoring its operations requirements
to ensure it has sufficient funds to fulfill its obligations.
Interest rate risk
Interest rate risk is the risk that the value or future cash flows of a financial instrument might be
adversely affected by a change in the interest rates. The investments are exposed to interest rate
risk arising from fluctuations in interest rates on its interest bearing cash and investment
balances. In seeking to minimize the risks from interest rate fluctuations, the organization
manages exposure through its normal operating and financing activities.
GOVERNMENT ASSISTAI\CE
The organization has received assistance through the Canada Emergency Business Account
(CEBA) program. They received a $60,000 interest free loan, which $40,000 was repaid during
the year. This resulted in $20,000 of loan being forgiven. The amount forgiven is included in
grant income for the year.
The organization also received assistance through the Canada Emergency Wage Subsidy
(CEWS) program. They received $ML (2021 - $14,387) which reduced wages and benefits by
this amount.
BATEMAN, GRAHAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOUNTANTS
I
Cost
Net Book
Value
I
I
Page 15 of 27
AURORA HISTORICAL SOCIETY
NOTES TO THE FINAI\CIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER3L,2022
7. CHANGE IN FUND BALANCES
Operatins
Capital
Assets
Net assets - beginning of
the year $ 197,158 $ 10,806 $ 51,073 $ 259,037 $ 185,771
Restricted 2022 2021
(Deficiency) excess of
revenue over
expenditures t4.947 346)c2.09t)'.266
8.
$__2lanQr s 8.460 $ 6.381 $ 226.946 $__259-Wl_
Each year the board reviews the surplus and determines if a transfer to the restricted funds is
necessary. During the year, $44,692 (2021 - $38,836) was approved by the board to use restricted
building and grounds funds surplus for restorations.
DEFERRED REVENUE
Deferred revenue represents unspent funds received which have been externally restricted and
must be utilized as prescribed.
2022 202L
Defered contributions - beginning of year
Contribution received
Program expenses recognized
Amortization expense recognized
Defened contributions - end of year
$
9. GOVERNMENT REMITTANCES
Government remittances payable included in accounts payable $
5,410 $
16,242
(16,248)
(403)
4,059
17,823
(16,234)
(237)
$ s.001 $___l-41L
2022
7.602 $
2021
4.35t
10. FINANCIALSTATEMENTADJUSTMENT
On September 14,2023, the organization identified that a legal invoice had been accrued twice in
the December 31, 2022 financial statements. The financial statements have been reissued
reducing legal expense and accrued liabilities by the amount of the invoice, $13,203.
BATEMAN, GRAHAM & FITZPATRICK
CHARTERED PROFESSIONAL ACCOTINTANTS
Page 16 of 27
100 John West Way
Aurora, Ontario
L4G 6J1
(905) 727-3123
aurora.ca
Town of Aurora
Memorandum
Corporate Services
_______________________________________________________________________________________
Re: Memo-Capital Project Portfolio Update
To: Finance Advisory Committee (FAC)
From: Project Management Office, Corporate Services
Date: April 9, 2024
Recommendation
1. That the memorandum regarding the Town’s Capital Project Portfolio Update be
received for information.
Background
At the September 2023 Financial Advisory Committee (FAC) meeting, the Town's Project
Management Office (PMO) presented a proposed approach to monitor the Town’s project
portfolio. Subsequently, significant progress has been achieved in operationalizing this
approach:
Development of Processes:
The PMO has established a process for actively monitoring project progress.
A structured data collection process has been implemented, ensuring regular
updates on project statuses.
Data driving the calculations needed for successful implementation of EVM
continues to be refined.
Draft Dashboard:
A preliminary dashboard has been developed to visualize key project metrics and
performance indicators. (Exhibit 1 – Draft EVM Dashboard)
The Dashboard will be brought to the corporate management team for
review/refinement at an upcoming monthly meeting.
Page 17 of 27
Municipal Service Delivery Review Update
April 9, 2024 Page 2 of 2
Current Challenge
One notable challenge encountered in the deployment of reporting mechanisms
pertains to overall familiarity with the earned value management (EVM) approach.
Recognizing this as a new concept to the corporation, the PMO is proactively taking
steps to address this risk factor including additional support and coaching,
demonstration of value and ongoing support and guidance.
Conclusion
The Project Management Office is committed to fostering a data-driven culture and
continuous improvement. Despite current challenges, we're dedicated to overcoming
them through streamlined processes, training, and integrating earned value
management practices. By prioritizing efficiency and accountability, we aim to empower
management with insights for informed decision-making. Through ongoing refinement,
we're confident in achieving positive outcomes aligned with the Town’s strategic
objectives.
Page 18 of 27
Exhibit 1 – Draft Earned Value Management Dashboard
Panel 1 Panel 2
Panel 3
Page 19 of 27
Earned Value Management: is a project management methodology that keeps track of how well a project is doing by
comparing the work that was planned to be done with the actual work that has been finished. It helps project managers
see if the project is on time and on budget, and if any changes are needed to stay on track. EVM uses a number of KPIS to
show if a project is going well or if adjustments need to be made.
Term Description
Planned Value (PV) How much work was supposed to be done by now.
Actual Cost (AC) How much money we've actually spent so far.
Earned Value (EV) How much work we've actually finished.
Schedule Variance (SV) Whether we're ahead or behind the schedule.
Cost Variance (CV) Whether we're under or over the budget.
Schedule Performance Index (SPI) How well we're sticking to the timeline.
Cost Performance Index (CPI) How well we're staying within the budget.
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100 John West Way
Aurora, Ontario
L4G 6J1
(905) 727-3123
aurora.ca
Town of Aurora
Memorandum
Corporate Services
_______________________________________________________________________________________
Re: Municipal Service Delivery Review Update
To: Finance Advisory Committee (FAC)
From: Project Management Office, Corporate Services
Date: April 9, 2024
Recommendation
1. That the memorandum regarding the Town’s Municipal Service Delivery Review be
received for information.
Background
At the November 2023 Financial Advisory Committee (FAC) meeting, the Town's Project
Management Office delivered an update on the advancement in implementing the
recommendations outlined in the 2021 Municipal Service Delivery Review (SDR). The FAC
received a comprehensive overview of the status of each of the 38 recommended
improvement actions proposed for potential financial and productivity gains.
In response to the memorandum, the FAC expressed the need for additional clarification on
three key areas:
Key Tangible Benefits
The FAC requested a description of the key tangible benefits achieved by the
Town of Aurora's administration following the successful implementation of the
recommendations outlined in the Service Delivery Review (SDR).
Methodology for Calculating Financial and Productivity benefits:
The FAC sought further clarification on the methodology employed to determine the
net annual savings associated with the implementation of the recommended
improvement actions. The FAC communicated that a clear understanding of the
calculation methodology will assist them in making informed decisions and
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Municipal Service Delivery Review Update
April 9, 2024 Page 2 of 6
accurately assessing the anticipated financial benefits of the proposed initiatives.
Regular Progress Updates:
Acknowledging the significance of transparency and accountability in governance,
the FAC underscored the importance of receiving regular updates on the progress of
implementation. Consistent reporting on the advancement of each improvement
action enables the FAC to understand performance against objectives and make
necessary adjustments as needed.
In response to the FAC's queries, the Project Management Office (PMO) committed to
providing detailed explanations regarding the key tangible benefits of each completed
initiative and an explanation of the calculation methodology used to determine the potential
financial and productivity benefits. To further assist the FAC in informed decision-making,
the PMO has scheduled regular updates on the progress of the SDR throughout 2024.
Analysis
Key Tangible Benefits
The Town of Aurora’s management team has completed nine service improvement
recommendations and realized a series of service improvement and administrative benefits
listed below.
Category: Innovative Practice
Improvement Opportunity: Accommodating Hybrid Work
Key Tangible Benefits
Business continuity: Town of Aurora has improved its overall resilience to service
disruptions and is able to continue to deliver services to residents in the face of
unplanned events (pandemics, adverse weather events, transportation issues)
Environmental benefits: Reduced commuting and office occupancy has
supported lower carbon emissions and environmental impact, contributing to our
sustainability goals and corporate social responsibility efforts
Talent access, well being and retention: Offering hybrid work options support our
talent and enable access to a broader talent pool, including remote workers who may
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Municipal Service Delivery Review Update
April 9, 2024 Page 3 of 6
not be geographically located near the office. Additionally, providing flexibility has
improved employee satisfaction, work life balance and mental health.
Category: Service Driven
Improvement Opportunity: Shifting Corporate Communication's Focus
Enhanced strategic decision-making and planning as resources are redirected to
more impactful initiatives.
Improved stakeholder engagement and reputation management through focused
communication efforts.
Increased alignment of communication activities with organizational goals and
objectives.
Improvement Opportunity: Digitizing Road Occupancy Permit Applications
Reduced processing time and administrative burden associated with manual permit
applications.
Improved accuracy and transparency in permit processing, reducing errors and
delays.
Enhanced compliance monitoring and enforcement capabilities through digitized
records and data analysis.
Improvement Opportunity: Transition the focus of PMO to Focus on Transformation Projects
Improved project management capabilities and oversight, leading to more
successful monitoring and evaluation of corporate project portfolio.
Increased alignment of project activities with organizational goals and strategic
priorities.
Enhanced strategic planning and decision-making through centralized management
and coordination of administrative operations and transformation initiatives.
Improvement Opportunity: Transition Access Aurora to Community Services
Improved customer experience and satisfaction through dedicated and specialized
customer service channels.
Enhanced efficiency and effectiveness in addressing community service-related
inquiries and requests.
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Municipal Service Delivery Review Update
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Increased visibility and recognition of community service offerings, leading to greater
community engagement and participation.
Improvement Opportunity: Empowering Front-line Staff
Improved customer satisfaction and service delivery through better-trained and
empowered front-line staff.
Increased efficiency and effectiveness in handling customer requests, leading to
shorter response times and higher-quality service.
Reduced escalations and complaints as front-line staff are better equipped to
address issues independently.
Improvement Opportunity: Developing Council-Approved Special Events Policy
Streamlined and standardized process for planning and organizing special events,
reducing administrative burden.
Improved coordination and communication among interested parties involved in
event planning and execution.
Enhanced compliance with regulations and policies, leading to safer and more
successful events.
Improvement Opportunity: Defining HR Strategy Linked to Strategic Plan
Improved employee engagement and performance alignment with the organization's
strategic direction.
Enhanced talent acquisition and retention strategies tailored to meet the
organization's evolving needs.
Strengthened organizational culture and employee morale through clear
communication of HR initiatives and goals
Category: Leading Municipal Practices
Improvement Opportunity: Formalizing and Sustaining Pandemic Practices
Streamlined various administrative processes, reducing paperwork and manual
tasks.
Increased agility and adaptability in responding to future crises or disruptions.
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Municipal Service Delivery Review Update
April 9, 2024 Page 5 of 6
Improved communication and collaboration among team members, fostering a more
connected and cohesive workforce.
Methodology for Calculating Financial and Productivity benefits:
Expert Consultation
The methodology for calculating the financial and productivity benefits was developed
by Strategy Corp, a trusted and leading municipal consulting firm. Their expertise is a
significant contributing factor to our pursuit of operational excellence, and we
confidently rely on their guidance to drive meaningful change within our municipality.
Explanation of Calculations
Quantifying Financial Benefits
The financial analysis within the SDR identifies potential financial benefits and cost savings
opportunities for the Town of Aurora. The methodology applied conservative benchmarks
based on municipal data sources, internal financial information, and expert estimations. The
analysis forecasts productivity savings across three main areas:
People and Talent
Digitization
Process Standardization
For instance, by enhancing people management practices, the Town could realize savings
between 8 and eighteen per cent. Similarly, digitization efforts could yield a ten to twenty-five
per cent reduction in costs through tech implementation and workflow automation. The
review also suggests standardizing processes to eliminate duplication, potentially saving
five to ten per cent. These projections are based on a detailed financial assessment, which
includes one-time investments and ongoing operational expenses against the anticipated
annual savings, providing a net annual savings estimate. (Appendix 1-Financial Calculation
Method)
Transparency and Caution
To support transparent and effective financial stewardship, it is important to provide clarity
regarding the nature of the savings projections. While these projections represent potential
benefits resulting from the implementation of recommended improvement initiatives, it's
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Municipal Service Delivery Review Update
April 9, 2024 Page 6 of 6
essential to recognize the inherent uncertainties in projecting savings and the fluid nature of
municipal service delivery. It is recommended that the FAC approach these figures with a
balanced perspective, recognizing them as valuable aspirations and not absolutes that the
Town can leverage in its pursuit of prudent financial management and operational
excellence.
Regular Progress Updates:
Commitment to Monitoring and Evaluation
Our commitment is to report to the FAC on a regular basis regarding the implementation
of the improvement initiatives. We understand the importance of ongoing evaluation to
gauge the effectiveness of these measures and adjust accordingly. By providing
transparent updates, we aim to keep the FAC informed and involved in our efforts to
enhance efficiency and improve our service delivery to Aurora’s residents.
Conclusion
The ongoing monitoring and analysis of the SDR improvement portfolio by the PMO will
continue to support a successful implementation of the SDR recommendations which
will contribute to enhancing the service delivery for all of Aurora’s residents.
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Appendix 1
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