September 6, 2022 - Minutes

Date:

Tuesday, September 6, 2022

Place:

Council Chambers
Richmond City Hall

Present:

Mayor Malcolm D. Brodie, Chair
Councillor Chak Au
Councillor Carol Day
Councillor Andy Hobbs
Councillor Alexa Loo
Councillor Bill McNulty
Councillor Linda McPhail (by teleconference)
Councillor Harold Steves (by teleconference)
Councillor Michael Wolfe (by teleconference)

Call to Order:

The Chair called the meeting to order at 4:10 p.m.

MINUTES

It was moved and seconded

That the minutes of the meeting of the Finance Committee held on July 4, 2022, be adopted as circulated.

CARRIED

FINANCE AND CORPORATE SERVICES DIVISION

1.

Financial Information – 2nd Quarter June 30, 2022
(File Ref. No.03-0905-01) (REDMS No. 6939702)

In response to queries from the Committee, staff advised (i) missing information from business license applications results in processing delays, (ii) the City is taking steps to improve efficiency, (iii) all financial reports are published on the City’s website, and (iv) the capital plan timeline does not allow for any additional projects.

During discussion, concern was expressed regarding the lengthy delays in acquiring business licenses.

It was moved and seconded

That the staff report titled “Financial Information – 2nd Quarter June 30, 2022”, dated August 5, 2022, from the Acting Director, Finance, be received for information.

CARRIED

As a result of the discussion, the following referral motion was introduced.

It was moved and seconded

That staff examine the timeline to process business license applications to reduce delays between application and issuance.

CARRIED

2.

Active Capital Projects Information - 2nd Quarter June 30, 2022
(File Ref. No. 03-0975-01) (REDMS No. 6939785)

It was moved and seconded

That the staff report titled “Active Capital Projects Information - 2nd Quarter June 30, 2022”, dated August 1, 2022, from the Acting Director, Finance, be received for information.

CARRIED

LULU ISLAND ENERGY COMPANY

3.

2022 Q2 FINANCIAL INFORMATION FOR THE LULU ISLAND ENERGY COMPANY
(File Ref. No. 01-0060-20-LIEC1) (REDMS No. 6958505)

It was moved and seconded

That the Lulu Island Energy Company report titled “2022 Q2 Financial Information for the Lulu Island Energy Company”, dated August 11, 2022, from the Chief Executive Officer and Chief Financial Officer, be received for information.

CARRIED

RICHMOND OLYMPIC OVAL CORPORATION

4.

RICHMOND OLYMPIC OVAL CORPORATION – 2nd QUARTER 2022 FINANCIAL INFORMATION
(File Ref. No. 03-1200-09) (REDMS No. 6960794)

It was moved and seconded

That the report on Financial Information for the Richmond Olympic Oval Corporation for the second quarter ending June 30, 2022, from the Director, Finance, Innovation & Technology, Richmond Olympic Oval Corporation, be received for information.

CARRIED

ADJOURNMENT

It was moved and seconded

That the meeting adjourn (4:19 p.m.).

CARRIED

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 Tuesday, September 6, 2022.

_________________________________

_________________________________

Mayor Malcolm D. Brodie
Chair

Debbie Reimer
Recording Secretary