May 7, 2018 - Agenda

Pg. #

ITEM

MINUTES

FIN-4

Motion to adopt the minutes of the meetings of the Finance Committee held on April 3, 2018 and April 16, 2018.

DELEGATION

FIN-8

1.

C.J. James, Engagement Partner, KPMG LLP, and Aanu Adeleye, Senior Manager, KPMG LLP, to present the 2017 Audit findings on the City’s financial statements.

RICHMOND OLYMPIC OVAL CORPORATION

2.

Richmond Olympic Oval Corporation 2017 Audited Financial Statements
(File Ref. No.) (REDMS No. 5809815)

FIN-25

See Page FIN-25 for full report

Designated Speaker:  Rick Dusanj

STAFF RECOMMENDATION

That the report on the 2017 audited Financial Statements for the Richmond Olympic Oval Corporation from the Controller of the Richmond Olympic Oval Corporation be received for information.

LULU ISLAND ENERGY COMPANY

3.

2017 Financial Statements for the Lulu Island Energy Company
(File Ref. No. 10-6600-10-01) (REDMS No. 5776179 v. 8)

FIN-49

See Page FIN-49 for full report

Designated Speakers:  John Irving and Jerry Chong

STAFF RECOMMENDATION

That the Lulu Island Energy Company report titled “2017 Financial Statements for the Lulu Island Energy Company” dated April 10, 2018 from the Chief Executive Officer and Chief Financial Officer, Lulu Island Energy Company be received for information.

RICHMOND PUBLIC LIBRARY

4.

2017 Financial Statements for the richmond public library
(File Ref. No. 03-0905-01) (REDMS No. 5818350)

FIN-87

See Page FIN-87 for full report

Designated Speaker:  Susan Walters

STAFF RECOMMENDATION

That the 2017 Richmond Public Library audited financial statements for the year ended December 31, 2017, as presented in the attached report from the Chief Librarian, be received for information.

FINANCE AND CORPORATE SERVICES DIVISION

5.

2017 City Consolidated Financial Statements
(File Ref. No. 03-0905-01) (REDMS No. 5804460; 5828105; 5827301)

FIN-109

See Page FIN-109 for full report

Designated Speaker: Andrew Nazareth 

STAFF RECOMMENDATION

That the City’s audited consolidated financial statements for the year ended December 31, 2017 be approved.

COMMUNITY SERVICES DIVISION

6.

Garden City Lands Project Tipping Fees Revenues – Update
(File Ref. No. 06-2345-20-GCIT1) (REDMS No. 5781999 v. 7)

FIN-160

See Page FIN-160 for full report

Designated Speakers:  Alex Kurnicki and Jamie Esko

STAFF RECOMMENDATION

(1)

That the General Manager, Community Services be authorized to enter into soil deposit agreements with private contractors for placement of soil on the Garden City Lands (the “Lands”) required for the development of the Lands, as detailed in the staff report (the “Report”)  titled “Garden City Lands Project Importation Fees Revenues - Update,” dated April 20, 2018;

(2)

That all net revenues generated through tipping fees on the Lands be reinvested into the Lands to offset any future project related costs, as detailed in the Report; and

(3)

That staff be directed to continue implementing the soil enhancement plan, developed in consultation with the Agricultural Land Commission, for the imported soil establishing the farm at the Lands, as detailed in the Report.

ADJOURNMENT