Minutes (Appointed) - Finance Advisory Committee - 20220208 1
Town of Aurora
Finance Advisory Committee
Meeting Minutes
Date:
Time:
Location:
Tuesday, February 8, 2022
5:45 p.m.
Video Conference
Committee Members: Mayor Tom Mrakas (Chair)
Councillor Harold Kim
Councillor Michael Thompson
Other Attendees: Councillor Sandra Humfryes
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 5:47 p.m.
2. Approval of the Agenda
Moved by Councillor Thompson
Seconded by Councillor Kim
That the agenda as circulated by Legislative Services be approved.
Carried
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.
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4. Receipt of the Minutes
4.1 Finance Advisory Committee Meeting Minutes of January 18, 2022
Moved by Councillor Kim
Seconded by Councillor Thompson
That the Finance Advisory Committee meeting minutes of January 18,
2022, be received for information.
Carried
5. Delegations
None.
6. Matters for Consideration
6.1 Memorandum from Senior Advisor, Financial Management; Re: Corporate
Revenues and Expenditures Reporting Improvements
Staff provided a brief overview of the memorandum and the Committee
expressed its support of the proposed reporting improvements. Further
clarification was provided by staff regarding item recategorization and the
management of grants, variances, budgeting, and reporting.
Moved by Councillor Thompson
Seconded by Councillor Kim
1. That the memorandum regarding Corporate Revenues and
Expenditures Reporting Improvements be received; and
2. That the Finance Advisory Committee comments regarding Corporate
Revenues and Expenditures Reporting Improvements be received and
referred to staff for consideration and further action as appropriate.
Carried
6.2 Memorandum from Manager, Financial Management; Re: Community
Benefits Charge Project Update
The Committee inquired about any comparison and financial benefits of
the new Community Benefits Charge (CBC) over the current system of
density bonusing, the Town's historical use of density bonusing, and the
downstream impacts of how revenue from the CBC is used. Staff provided
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clarification and the Committee expressed its support of the planned CBC
implementation process and alignment with future development charges
studies.
Moved by Councillor Thompson
Seconded by Councillor Kim
1. That the memorandum regarding Community Benefits Charge Project
Update be received; and
2. That the Finance Advisory Committee comments regarding the
Community Benefits Charge Project Update be received and referred
to staff for consideration and further action as appropriate.
Carried
7. New Business
None.
8. Adjournment
Moved by Councillor Kim
Seconded by Councillor Thompson
That the meeting be adjourned at 6:05 p.m.
Carried