April 1, 2019 - Minutes
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Finance Committee
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Date: |
Monday, April 1, 2019 |
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Place: |
Anderson Room |
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Present: |
Mayor Malcolm D. Brodie, Chair |
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Call to Order: |
The Chair called the meeting to order at 5:03 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 March 4, 2019, be adopted as circulated. |
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CARRIED |
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FINANCE AND CORPORATE SERVICES DIVISION |
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1. |
2018 Annual Procurement Report |
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In response to questions from Committee, Jerry Chong, Director, Finance and David Aarons, Manager, Purchasing advised that (i) the 2018 statement of financial information report to Council will include information on payments to vendors in excess of $25,000, (ii) the rebate from the purchasing card program will go into the overall finance division to cover procurement cost, and (iii) specialized services are typically contracted. |
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It was moved and seconded |
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That the staff report titled “2018 Annual Procurement Report”, dated March 18, 2019 from the Director of Finance, be received for information. |
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CARRIED |
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2. |
2018 Annual Development Cost Charges Report |
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It was moved and seconded |
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That the staff report titled, “2018 Annual Development Cost Charges Report,” dated March 8, 2019 from the Director, Finance be received for information. |
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CARRIED |
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3. |
Annual Development Cost Charges Imposition Bylaw Amendment |
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In reply to queries from Committee, Venus Ngan, Manager Treasury and Financial Services clarified that (i) the Development Cost Charges (DCC) Imposition Bylaw is approved by the Province for a four year period and minor consumer price index (CPI) amendments to the DCC Bylaw only require Council approval, (ii) every four years the Bylaw undergoes a major amendment to review costs and growth estimates, which is then submitted to the Province for approval and the City is in year two of their current DCC Bylaw, and (iii) other cities have not revised their DCC rates for 2019 however the 2.9% proposed increase is in line with the CPI of Vancouver and is in compliance with provincial legislation. |
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It was moved and seconded |
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(1) |
That the proposed Development Cost Charges Imposition Bylaw No. 9499, Amendment Bylaw No. 10003 be introduced and given first reading; and |
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(2) |
That the staff report titled “Annual Development Cost Charges Imposition Bylaw Amendment” dated March 1, 2019 from the Director, Finance, be endorsed as the basis for public consultation in establishing the amended Development Cost Charge Imposition Bylaw. |
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CARRIED |
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4. |
Acceptance of Cash at City Hall |
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Cindy Szutu, Utility and Tax Project Manager and Ivy Wong, Manager, Revenue highlighted 2018 statistics, noting that 30 cash transactions exceeded $10,000 or approximately 1% of the $10 million in total collected in cash and 2% of the total financial transactions at City Hall. Ms. Szutu and Ms. Wong further remarked that the recommended less than $10,000 cash per transaction would align with Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) $10,000 cash threshold for suspicious transactions and provide opportunities for customers to pay for utility bills and property taxes at key times. |
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In reply to queries from Committee, Ms. Szutu and Ms. Wong advised the following: |
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staff are not required to report to FINTRAC as the City is a voluntary reporting entity; |
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FINTRAC declarations for transactions over $10,000 are manually submitted for review when possible however, due to peak busy periods this may be after the transaction has occurred; |
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picture identification is required for cash transaction and this information is provided to FINTRAC where appropriate; |
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if a cash limit is approved, a customer paying for multiple accounts would be restricted to the $10,000 amount; |
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staff make every effort to be vigilant and recognize individuals attempting to pay for multiple accounts in cash in separate visits to City Hall; and |
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if the maximum cash accepted at City Hall were to be limited to $7000 it would capture approximately 90-95% of all residential property tax bills however there may be individuals who wish to pay for metered utility bills during the same transaction which may put them over the $7000 limit. |
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Discussion took place on other possible limit amounts for cash payments accepted at City Hall and as a result of the discussion, the following motion was introduced: |
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It was moved and seconded |
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That the maximum cash amount accepted at City Hall be limited to less than $10K per transaction (Option 3). |
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The question on the motion was not called as the following amendment motion was introduced: |
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It was moved and seconded |
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That the maximum cash amount accepted at City Hall be limited to less than $7000 per transaction. |
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The question on the amendment motion was not called as discussion ensued regarding the impact on residents if cash transactions are limited. In response to further questions from Committee, Ms. Szutu and Ms. Wong noted that some customers prefer to pay for bills and services at City Hall in cash. |
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The question on the amendment motion was then called and it was DEFEATED with Mayor Brodie and Cllrs. Au, Loo, McNulty, and McPhail opposed. |
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The question on the main 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 (5:31 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, April 1, 2019. |
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Mayor Malcolm D. Brodie |
Amanda Welby |