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ITEM

MINUTES

1

1.

Motion to adopt the minutes of the meeting of the Finance Committee held on Wednesday, April 5^th, 2006.

DELEGATION

6

2.

Archie G. Johnston, Partner, Assurance Services, KPMG LLP Chartered Accountants, to present the Auditor’s Report for 2005.

11

3.

2005 CITY OF RICHMOND AUDITED CONSOLIDATED FINANCIAL STATEMENTS

(Report:  Apr. 25/06, File No.:   ) (REDMS No. 1813172)

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

That the City’s audited consolidated financial statements for the year ended December 31, 2005, be approved.

30

4.

BIOLOGICAL OXYGEN DEMAND AND TOTAL SUSPENSION SOLIDS MANAGEMENT PROGRAM CHARGES

(Report:  Apr. 24/06, File No.:  ) (REDMS No. 1812980)

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

That the BOD/TSS charges be billed directly to the identified companies through the metered utility bill, effective January 1, 2007.

33

5.

APPOINTMENT OF AUDITOR(Report:  Apr. 18/06, File No.:  03-0959-03/2006-Vol 01) (REDMS No. 1808003)

Designated Speaker:  Andrew Nazareth

STAFF RECOMMENDATION

That KPMG, LLP be re-appointed as the City’s auditor for the years 2006 – 2010, in accordance with the terms of their proposal.

35

6.

OFFICER AND GENERAL MANAGER BYLAW, NEW PROCUREMENT AND SIGNING AUTHORITY POLICIES, AND PURCHASING POLICY – CONSTRUCTION MANAGEMENT PROJECTS

(Report:  Mar. 29/06, File No.:  02-0745-00/Vol 01) (REDMS No. 1775222)

Designated Speaker:  Glenn McLaughlin

STAFF RECOMMENDATION

That:

(1)

Purchasing and Publicly Tendered Contract Policy 3102, adopted by Council on March 10, 1997 and last amended on March 29, 2005, be rescinded;

(2)

Officer and General Manager Bylaw No. 8062, which updates the Powers, Duties and Functions of the Chief Administrative Officer and General Managers, and makes other housekeeping changes as a consequence of the recent re-structuring, be introduced and given first second and third readings;

(3)

The Procurement Policy (Appendix 4 to the report dated March 29^th, 2006, from the Manager, Purchasing & Risk), be adopted;

(4)

The Financial Signing Authorities Policy (Appendix 5 to the report dated March 29^th, 2006, from the Manager, Purchasing & Risk) be adopted; and

(5)

The Purchasing Policy - Construction Management Projects (Appendix 6 to the report dated March 29^th, 2006, from the Manager, Purchasing & Risk) be adopted.

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7.

TRUST AND ENDOWMENT FUND POLICY

(Report:  Apr. 25/06, File No.:   ) (REDMS No. 1729136)

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

That the proposed Trust and Endowment Funds Policy (attached to the report dated April 25^th, 2006, from the Acting Director of Finance), be approved.

8.

MANAGER’S REPORT

ADJOURNMENT