May 5, 2014 - Minutes
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Finance Committee
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Date: |
Monday, May 5, 2014 |
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Place: |
Anderson Room |
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Present: |
Mayor Malcolm D. Brodie, Chair |
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Absent: |
Councillor Linda McPhail |
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Call to Order: |
The Chair called the meeting to order at 4:00 p.m. |
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MINUTES |
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It was moved and seconded |
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That the minutes of the meeting of the Finance Committee held on Monday, April 7, 2014, be adopted as circulated. |
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CARRIED |
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The Chair advised that the order of the agenda would be varied to consider audited financial statements first. |
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DELEGATION |
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1. |
C.J. James, Partner, accompanied by Archie Johnston, Partner, KPMG, were available to answer questions related to the 2013 Auditor’s report on the City’s financial statements. Ms. James thanked City staff for their efficiency in compiling the City’s financial statements. |
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FINANCE AND CORPORATE SERVICES DEPARTMENT |
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2. |
2013 Consolidated Financial Statements |
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It was moved and seconded |
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That the City’s audited consolidated financial statements for the year ended December 31, 2013 be approved. |
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CARRIED |
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3. |
Financial Information – 1st Quarter March 31, 2014 |
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Please see Page 3 for action on this matter. |
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RICHMOND PUBLIC LIBRARY BOARD |
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4. |
2013 Financial Statements FOR RICHMOND PUBLIC LIBRARY BOARD |
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It was moved and seconded |
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That the report on the 2013 Financial Statements and Independent Auditor’s report for the Richmond Public Library Board be received for information. |
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CARRIED |
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LULU ISLAND ENERGY COMPANY LTD. |
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5. |
2013 Financial Statements for the Lulu Island Energy Company |
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It was moved and seconded |
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That the Lulu Island Energy Company audited financial statements for the year ended December 31, 2013, as presented in the report titled “2013 Financial Statements for the Lulu Island Energy Company”, dated May 2, 2014 from the Director, Finance, be received for information. |
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CARRIED |
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RICHMOND OLYMPIC OVAL CORPORATION |
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6. |
2013 Financial Statements for the Richmond Olympic Oval Corporation |
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In reply to queries from Committee, Rick Dusanj, Controller, Richmond Olympic Oval Corporation, commented on the annual surplus, highlighting that financial trends indicate a similar result for 2014. |
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It was moved and seconded |
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That the report on the 2013 Financial Statements and Independent Auditor's report for the Richmond Olympic Oval Corporation from the Controller of the Richmond Olympic Oval Corporation be received for information. |
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CARRIED |
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3. |
Financial Information – 1st Quarter March 31, 2014 |
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It was moved and seconded |
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That the staff report titled Financial Information – 1st Quarter March 31, 2014 from the Director, Finance, be received for information. |
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The question on the motion was not called as in reply to queries from Committee, John McGowan, Fire Chief, Richmond Fire-Rescue (RFR), advised that three retirements and one resignation have created four RFR vacancies. |
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The question on the motion was then called and it was CARRIED. |
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ADJOURNMENT |
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It was moved and seconded |
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That the meeting adjourn (4:20 p.m.). |
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CARRIED |
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Certified a true and correct copy of the Minutes of the meeting of the Finance Committee of the Council of the City of Richmond held on Monday, May 5, 2014. |
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Mayor Malcolm D. Brodie |
Hanieh Berg |