May 5, 2025 - Minutes
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Finance Committee
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Date: |
Monday, May 5, 2025 |
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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 5:40 p.m. |
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It was moved and seconded |
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That Councillor Au be permitted to join the meeting electronically. |
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CARRIED |
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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 Special Finance Committee held on April 22, 2025 be adopted as circulated. |
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CARRIED |
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DELEGATION |
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1. |
Aanu Adeleye, Engagement Partner, and Chito Lo, Engagement Senior Manager, KPMG, presented the Audit Findings Report on the City’s 2024 Consolidated Financial Statements. |
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FINANCE AND CORPORATE SERVICES DIVISION |
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2. |
2024 Consolidated Financial Statements |
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It was moved and seconded |
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That the 2024 City of Richmond Consolidated Financial Statements as presented in Attachment 2 be approved. |
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CARRIED |
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RICHMOND PUBLIC LIBRARY |
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3. |
2024 Financial Statements for the Richmond Public Library (File Ref. No. 03-0905-01) (REDMS No. 8027857) |
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It was moved and seconded |
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That the 2024 Richmond Public Library audited financial statements for the year ended December 31, 2024, as presented in the attached report from the Chief Librarian, be received for information. |
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CARRIED |
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LULU ISLAND ENERGY COMPANY |
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4. |
2024 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 report titled “2024 Financial Statements for the Lulu Island Energy Company”, dated April 10, 2025, from the Chief Executive Officer and Chief Financial Officer, be received for information. |
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CARRIED |
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RICHMOND OLYMPIC OVAL CORPORATION |
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5. |
Richmond Olympic Oval Corporation 2024 Audited Financial Statements |
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Discussion ensued regarding (i) details of the Statement of Financial Position and Statement of Cash Flows, (ii) the forthcoming report regarding the Richmond Olympic Oval Corporation’s 1st Quarter 2025 Financial Information, (iii) a more streamlined and efficient senior management structure, and (iv) the Oval’s marketing budget and operational efficiency. |
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It was moved and seconded |
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That the report on the 2024 Audited Financial Statements for the Richmond Olympic Oval Corporation from the Director, Finance, Innovation & Technology, Richmond Olympic Oval Corporation be received for information. |
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CARRIED |
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ADJOURNMENT |
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It was moved and seconded |
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That the meeting adjourn (5:49 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, 2025. |
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Mayor Malcolm D. Brodie |
Shannon Unrau |