Finance Committee
Electronic Meeting
Council Chambers, City Hall
6911 No. 3 Road
Monday, May 2, 2022
Immediately following the General Purposes Committee meeting
|
FIN-5
|
|
Motion to adopt the minutes of the meeting of the Special Finance Committee held on April 19, 2022.
|
|
|
|
|
|
|
|
|
|
|
|
1.
|
C.J. James, Partner, KPMG LLP, to present the Audit findings on the City’s 2021 consolidated financial statements.
|
|
|
|
FINANCE AND CORPORATE SERVICES DIVISION
|
|
|
2.
|
2021 Consolidated Financial Statements
(File Ref. No. 03-0905-01) (REDMS No. 6877541)
|
|
FIN-7
|
|
See Page FIN-7 for full report
|
|
|
|
Designated Speaker: Cindy Gilfillan
|
|
|
|
STAFF RECOMMENDATION
|
|
|
|
That the 2021 City of Richmond Consolidated Financial Statements as presented in Attachment 2 be approved.
|
|
|
|
|
|
|
|
|
|
|
|
3.
|
Municipal Security Issuing Resolution
(File Ref. No. 03-0900-01) (REDMS No. 6850735)
|
|
FIN-98
|
|
See Page FIN-98 for full report
|
|
|
|
Designated Speaker: Venus Ngan
|
|
|
|
STAFF RECOMMENDATION
|
|
|
|
(1)
|
That a 20-year term $96 million borrowing with a 20-year amortization period from the Municipal Finance Authority of British Columbia’s (MFA’s) 2022 Fall Borrowing Session, as authorized through Steveston Community Centre and Branch Library Loan Authorization Bylaw No. 10334, be approved;
|
|
|
|
(2)
|
That the Metro Vancouver Regional District (MVRD) be requested to consent and to include the City of Richmond’s 20-year term $96 million borrowing with a 20-year amortization period in MVRD’s Security Issuing Bylaw; and
|
|
|
|
(3)
|
That the Consolidated 5-Year Financial Plan (2022-2026) be amended accordingly.
|
|
|
|
|
|
|
|
|
|
|
|
|
4.
|
2021 Financial Statements for the Richmond Public Library
(File Ref. No. 03-0905-01) (REDMS No. 6879809)
|
|
FIN-103
|
|
See Page FIN-103 for full report
|
|
|
|
Designated Speaker: Susan Walters
|
|
|
|
STAFF RECOMMENDATION
|
|
|
|
That the 2021 Richmond Public Library audited financial statements for the year ended December 31, 2021, as presented in the attached report from the Chief Librarian, be received for information.
|
|
|
|
|
|
|
|
|
|
|
|
|
LULU ISLAND ENERGY COMPANY
|
|
|
5.
|
2021 Financial Statements for the Lulu Island Energy Company
(File Ref. No. 01-0060-20-LIEC1) (REDMS No. 6880091)
|
|
FIN-125
|
|
See Page FIN-125 for full report
|
|
|
|
Designated Speaker: Jerry Chong and Alen Postolka
|
|
|
|
STAFF RECOMMENDATION
|
|
|
|
That the Lulu Island Energy Company report titled “2021 Financial Statements for the Lulu Island Energy Company”, dated April 13, 2022, from the Chief Executive Officer and Chief Financial Officer, be received for information.
|
|
|
|
|
|
|
|
RICHMOND OLYMPIC OVAL CORPORATION
|
|
|
|
|
|
|
|
6.
|
richmond olympic oval corporation 2021 audited financial statements
(File Ref. No.) (REDMS No. 6885036)
|
|
FIN-164
|
|
See Page FIN-164 for full report
|
|
|
|
Designated Speaker: Rick Dusanj
|
|
|
|
STAFF RECOMMENDATION
|
|
|
|
That the report on the 2021 Audited Financial Statements for the Richmond Olympic Oval Corporation from the Director, Finance, Innovation & Technology, Richmond Olympic Oval Corporation be received for information.
|
|
|
|
|
|
|
|
|
|
|
