AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

-
Shaw Auditorium, Vancouver Island Conference Centre
80 Commercial Street, Nanaimo, BC

SCHEDULED RECESS AT 10:30 A.M.

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

This item has attachments. 
1.FA250917M.pdf

Minutes of the Finance and Audit Committee Meeting held in the Shaw Auditorium, Vancouver Island Conference Centre, 80 Commercial Street, Nanaimo, BC on Wednesday, 2025-SEP-17, at 9:00 a.m.

5.
PRESENTATIONS:

 

6.
DELEGATIONS:

 

7.
REPORTS:

 

a.
Debt Management Policy Amendment

This item has attachments. 
1.RPT_FA251015DebtManagementPolicyAmendment.pdf
2.Attachment A Debt Management Policy.pdf
3.Attachment B Debt Management Policy - Track Changes.pdf

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


Purpose: To update the Debt Management Policy in response to recent Provincial changes to municipal borrowing regulations and remove the requirement for electoral approval for long-term borrowing within the City’s asset free zone.


Recommendation: That the Finance and Audit Committee recommend that Council endorse the proposed amendments to Council Policy COU-234 - “Debt Management Policy” as presented in Attachment A of the Staff report titled “Debt Management Policy Amendment” dated 2025-OCT-15.

b.
2026 General Fund Project Contingency

This item has attachments. 
1.RPT_FA2510152026ProjectContingencies.pdf

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


Purpose: To request a 2026 general fund project contingency for the 2026 – 2030 Financial Plan.


Recommendation: That the Finance and Audit Committee recommend that Council direct Staff to include a $1,035,000 general fund project contingency for 2026 in the 2026–2030 Provisional Financial Plan, funded from 2025 surplus.

c.
Cyber Security Cooperation Program

This item has attachments. 
1.RPT_FA251015_Cyber Security Cooperation Program.pdf

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


Purpose: To advise the Finance and Audit Committee that the City has submitted a proposal for funding of $1,133,700 to the Cyber Security Cooperation Program.

d.
Quarterly Budget Transfer Report

This item has attachments. 
1.RPT_FA_251015_QuarterlyBudgetTransferReport.pdf

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 of 2025-JUL-01 to 2025-SEP-30.

e.
Quarterly Purchasing Report (Single and Sole Source, Purchases in Excess of $250,000 and Instances of Exceptions to Trade Agreements)

This item has attachments. 
1.RPT_FA20251015_Quarterly Report.pdf
2.Attachment A - Single and Sole Source Purchases Summary.pdf
3.Attachment B - PurchasesGreater than $250,000 Summary.pdf
4.Attachment C - Instances of Exceptions to Trade Agreements.pdf

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


Purpose:  To provide information in compliance with the City’s Procurement Policy (COU-209) regarding single and sole source purchases, awards in excess of $250,000 and reporting of instances of exceptions to Trade Agreements for the period 2025-APR-01 to 2025-JUN-30.

8.
OTHER BUSINESS:

 

9.
QUESTION PERIOD:

 

10.
ADJOURNMENT:

 
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