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HomeMy WebLinkAboutJuly 20, 1999 i A 7 i- r ■1/4 o�N of p,0 r ■ z Audit Committee Meeting Minutes Subject to Adoption Present: Councillor Maurice Brenner- Chair Councillor Mark Holland Councillor Dave Ryan Gil Paterson, Director of Finance Bruce Taylor, Town Clerk Kristine Senior, Manager, Accounting Services Warren Hurren-Hurren, Flett, Sinclair, Chartered Accountants Neil Sinclair-Hurren, Flett, Sinclair, Chartered Accountants A meeting of the Audit Committee was held on Tuesday, July 20, 1999 at 6:00 p.m. in the Main Committee Room of the Pickering Civic Complex. The following matters were discussed: 1. Revised Notice of Motion The Chair reported that the following resolution was passed by Council at its meeting of June 28, 1999: That Council, subject to final approval by the Audit Committee, approve the draft amendments to the Notice of Motion referred by Council to the Audit Committee at its meeting of March 22, 1999 as contained in Report FIN 18-99. The following is the resolution passed by Council on June 28, 1999: WHEREAS both Council and the public require complete and accurate information on the estimated cost of a project or program in order to have an informed opinion of it; NOW THEREFORE the Council of The Corporation of the Town of Pickering hereby directs that when a new project or other program that will be funded in whole or in part from any source is introduced, an estimate of the cost including financing, if applicable, and/or the annual operating costs of the program, will be included in the proposal; and THAT the existing processes and procedures of Council in dealing with Notices of Motion as specified in Section 33 of Council's Procedural By-law No. 3665/91 be reaffirmed; and THAT support for the internal controls, and financial processes and procedures which the Town has in place, including those in respect to the annual Current and Capital Budgets be reaffirmed; and THAT the Movers and/or Seconders on Notices of Motion use the two week period as specified in Section 33 of By-law 3665/91 to meet with the Director of Finance and Treasurer, and any other appropriate Department Heads in order to ensure that information pertaining to the matter is available to assist in Council's discussion of the Notice of Motion; and ..../2 A • 1 - - 2 - - THAT both the internal and external funding sources of these estimated costs be identified and expressed in projected dollar amounts; and THAT all monies to be provided from the municipal tax base be either confirmed within existing budgets and/or reserves; and THAT any proposed tax increases special levies, or financing costs be identified and expressed as an annual cost to the completion of the financial obligation; and THAT said estimates be supported by a staff report including comments from all applicable Department Heads and reviewed by the Treasurer and Chief Administrative Officer. Councillor Ryan stated that he had two concerns with respect to the above motion which was adopted by Council at its meeting of June 28, 1999 and which was somewhat different from his original Notice of Motion introduced on March. 1. In the second paragraph, the requirement to provide the operating costs of a project or program for the first five years of its operation was deleted and he asked that this be re-instated. 2. In the last paragraph, the requirement of the Treasurer and CAO to verify estimates in a staff report was removed and replaced with a review of the estimates by the Treasurer and CAO. He felt that a review was not enough protection to ensure that all processes were being followed and proper estimates received and asked that stronger wording be put in this area. The Committee agreed that both suggestions should be incorporated into the motion and noted that since the amendments noted above did not change the basic intent of the June 28th resolution, that the motion below, upon it passage, would become Town policy immediately. Moved by Councillor Holland WHEREAS both Council and the public require complete and accurate information on the estimated cost of a project or program in order to have an informed opinion of it; NOW THEREFORE the Council of The Corporation of the Town of Pickering hereby directs that when a new project or other program that will be funded in whole or in part from any source is introduced, an estimate of the cost including financing, if applicable, and/or the annual operating costs of the project or program in each of the first five years of operation,will be included in the proposal; and THAT the existing processes and procedures of Council in dealing with Notices of Motion as specified in Section 33 of Council's Procedural By-law No. 3665/91 be reaffirmed; and THAT support for the internal controls, and financial processes and procedures which the Town has in place, including those in respect to the annual Current and Capital Budgets be reaffirmed; and ..../3 K .. - - 3 - - THAT the Movers and/or Seconders on Notices of Motion use the two week period as specified in Section 33 of By-law 3665/91 to meet with the Director of Finance and Treasurer, and any other appropriate Department Heads in order to ensure that information pertaining to the matter is available to assist in Council's discussion of the Notice of Motion; and THAT both the internal and external funding sources of these estimated costs be identified and expressed in projected dollar amounts; and THAT all monies to be provided from the municipal tax base be either confirmed within existing budgets and/or reserves; and THAT any proposed tax increases special levies, or financing costs be identified and expressed as an annual cost to the completion of the financial obligation; and THAT said estimates be supported by a staff report including comments from all applicable Department Heads; and THAT the appropriate Department Head determine the best source to provide an estimate and upon that estimate being determined, that the Treasurer and Chief Administrative Officer verify that the processes stated in this motion have been followed. CARRIED 2. Other Business Councillor Brenner inquired into the status of the 1998 Financial Statements. The Director of Finance reported that these Statements are being delayed due to Bill 79, however, they should be ready for review by the Audit Committee in late August or early September and be ready for Council for its September 13th Executive Committee Meeting. 3. Adjournment The meeting adjourned at 6:45 p.m.