Minutes - Finance Advisory Committee - 20210927 1
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Monday, September 27, 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
Elizabeth Adams-Quattrociocchi, Manager, Financial Reporting
and Revenue
Ishita Soneji, 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
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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 June 8, 2021
Moved by Mayor Mrakas
Seconded by Councillor Thompson
That the Finance Advisory Committee meeting minutes of June 8, 2021,
be received for information.
Carried
5. Delegations
None.
6. Matters for Consideration
6.1 Memorandum from Manager, Financial Reporting and Revenue; Re: Optional
Small Business Subclass – Property Tax
Staff provided an overview of the memorandum and background
information regarding the small business property tax subclass as a relief
measure to mitigate the financial constraints caused by the pandemic.
The Committee inquired about the potential taxes the discount rate would
represent and staff provided clarification. The Committee and staff
discussed about the application process, eligibility criteria, and the
intended timeline of the initiative. The Committee sought clarification on
the responsibility of the appeal hearing process, and staff advised that all
appeals would be managed by the Region. There was further discussion
about the available options to absorb the financial impact resulting from
the proposed small business property tax subclass. Staff advised that the
development of a policy and consistent eligibility criteria is ongoing in
collaboration with York Region and all nine lower tier municipalities, with
more details forthcoming.
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Moved by Councillor Thompson
Seconded by Mayor Mrakas
1. That the memorandum regarding Optional Small Business Subclass -
Property Tax be received for information.
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 underway. The Committee referred to the
committed contingency amount for the Aurora Town Square project and
sought clarification regarding the allocated amount in comparison to the
forecasted contingency cost at completion. Staff advised that any future
and upcoming risks are yet to be determined at this stage. The Committee
expressed preference for the Fire Hall 4-5 construction project
contingency presentation format and suggested that more details be
provided regarding the allocated contingency amounts in future reports,
and staff agreed to follow up.
Moved by Councillor Thompson
Seconded by Mayor Mrakas
1. That the memorandum regarding Town’s Major Capital Projects
Update be received for information.
Carried
7. New Business
None.
8. Adjournment
Moved by Councillor Thompson
Seconded by Mayor Mrakas
That the meeting be adjourned at 6:18 p.m.
Carried