AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

Wednesday, July 17, 2024

9:00 A.m. - 12:00 P.m.

SHAW AUDITORIUM, VANCOUVER ISLAND CONFERENCE CENTRE

80 COMMERCIAL STREET, NANAIMO, BC

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1.

CALL THE MEETING TO ORDER:

[Note:  This meeting will be live streamed and video recorded for the public.]

2.

INTRODUCTION OF LATE ITEMS:

3.

ADOPTION OF AGENDA:

4.

ADOPTION OF MINUTES:

a.

Minutes

Minutes of the Finance and Audit Committee Meeting held in the Shaw Auditorium, Vancouver Island Conference Centre, 80 Commercial Street, Nanaimo, BC, on Wednesday, 2024-JUN-19, at 9:00 a.m.

5.

PRESENTATIONS:

a.

Chuck Loewen, General Manager, Vancouver Island Conference Centre re:  Vancouver Island Conference Centre Financial Update

6.

DELEGATIONS:

7.

REPORTS:

a.

Nanaimo Curling Club Chiller Failure

To be introduced by Richard Harding, General Manager, Community Services/Deputy CAO.

Purpose:  To request funding for emergency repair of the Nanaimo Curling Club Chiller, as well as provide an update on the overall condition of the Curling Club.

Recommendation:  That the Finance & Audit Committee recommend that Council provide a grant of $67,950 to the Nanaimo Curling Club towards the purchase of a refurbished plate and frame chiller funded from the Strategic Infrastructure Reserve Fund.

b.

2025 55+ BC Games Advance of Funds

To be introduced by Richard Harding, General Manager, Community Services/Deputy CAO.

Purpose:  To request the advance of the funds committed to the 2025 55+ BC Games from 2025 to 2024.

Recommendation:  That the Finance and Audit Committee recommend that Council direct Staff to amend the 2024 – 2028 Financial Plan to accelerate $16,000 of the $60,000 budgeted for the 55+ BC Summer Games from 2025 to 2024.

c.

2024 Cultural and Special Events Grant Funding Reallocation

To be introduced by Richard Harding, General Manager, Community Services/Deputy CAO.

Purpose:  To ask the Finance and Audit Committee to recommend that Council approve the reallocation of declined 2024 Culture & Events Downtown Event Revitalization Funds.

Recommendation:  That the Finance & Audit Committee recommend that Council:

a)    Approve reallocation of declined 2024 Culture & Event Downtown Event Revitalization Funds as follows: 

Applicant Name: Downtown Nanaimo Business Association
Event: Winterfest
Recommended: $1,100

Applicant Name: Nanaimo International Jazz Festival Association 
Event: Jazz Festival 2024
Recommended: $1,100

d.

Heritage Home Grant Application - 167 Irwin Street

To be introduced by Jeremy Holm, Director, Planning and Development.

Purpose:  To obtain Council approval for a Heritage Home Grant for the Land “Fernville” Residence located at 167 Irwin Street.

Recommendation:  That the Finance and Audit Committee recommend that Council approve a $793.75 Heritage Home Grant to repaint a portion of the exterior of the Land “Fernville” Residence at 167 Irwin Street.

e.

Regional District of Nanaimo Wellington Pump Station Cost Share Project

To be introduced by Bill Sims, General Manager, Engineering and Public Works.

Purpose:  To present the Finance and Audit Committee with an opportunity to undertake sewer main replacements in collaboration with the Regional District of Nanaimo’s Wellington Pump Station Upgrades project.

Recommendation:  That the Finance & Audit Committee recommend that Council enter into a cost share agreement with the Regional District of Nanaimo to complete a sewer main replacement in conjunction with the Wellington Pump Station Upgrades project and add a project to 2024 for $400,000 for the work, funded from the Sewer Operating Reserve.

f.

Quarterly Budget Transfer Report

To be introduced by Laura Mercer, General Manager, Corporate Services.

Purpose:  To advise the Finance and Audit Committee of any budget transfers requiring disclosure for the period 2024-JAN-01 to 2024-JUN-30. 

8.

OTHER BUSINESS:

9.

QUESTION PERIOD:

10.

ADJOURNMENT: