AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

-
SHAW AUDITORIUM, VANCOUVER ISLAND CONFERENCE CENTRE
80 COMMERCIAL STREET, NANAIMO, BC

SCHEDULED RECESS FOR 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.FA230913M.pdf

The minutes of the Finance and Audit Committee Meeting held in the Shaw Auditorium, Vancouver Island Conference Center, 80 Commercial Street, Nanaimo, BC, on Wednesday, 2023-SEP-13 at 9:00 a.m.

5.
PRESENTATIONS:

 

6.
DELEGATIONS:

 

7.
REPORTS:

 

a.
2023 Travel Assistance Grants Overview

This item has attachments. 
1.RPT_FA231018_2023TravelAssistanceGrantsOverview.pdf

To be introduced by Darcie Osborne, Director, Parks, Recreation and Culture.


Purpose:  To provide a summary to the Finance and Audit Committee of Travel Assistant Grants issued in 2023.

b.
2024 Project Contingency Allocation

This item has attachments. 
1.RPT_FA2310182024ProjectContingencies.pdf

To be introduced by Laura Mercer, Director, Finance.


Purpose:  To advise the Finance and Audit Committee of changes in the approach to project plan budgeting and request a project contingency for the 2024 project plan.


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

  1. Direct Staff to add a $870,000 project contingency budget for 2024 to the 2024 – 2028 Provisional Financial Plan funded from 2023 surplus; and
  2. Direct Staff to incorporate the new approach to project contingencies in future Financial Plans.

c.
Design Commercial Project Update

This item has attachments. 
1.RPT_FA231018_DesignCommercialProjectUpdate.pdf
2.AttA_PowerPointPresentation_RPT_FA231018_DesignCommercialProjectUpdate.pdf
3.AttB_DraftFunctionalDesignPoster_RPT_FA231018_DesignCommercialProjectUpdate.pdf
4.AttC_ ProcessPoster_RPT_FA231018_DesignCommercialProjectUpdate.pdf

To be introduced by Bill Corsan, Director, Corp. and Business Development.


Purpose:  To provide Council with an update on the timing, phasing, and cost of the Design Commercial Project.


Presentation:

  1. James Knight, Capital Project Management Specialist, Engineering Design.

d.
Growing Communities Fund Allocations

This item has attachments. 
1.RPT_FA231018GrowingCommunitiesFundAllocations.pdf
2.RPT_FA231018GrowingCommunitiesFundAllocations_AttA.pdf

To be introduced by Laura Mercer, Director, Finance.


Purpose:  To provide the Finance and Audit Committee with allocation options for the Growing Communities Fund.


Recommendation:  That the Finance and Audit Committee recommends that Council allocate the Growing Communities Fund monies to:

  1. Design Commercial Project   $3,985,000
  2. Maffeo Sutton Park Washrooms   $3,000,000
  3. Land Purchase – South End Community Centre   $2,500,000
  4. Westwood Lake Park Improvements - Phase 2   $1,180,000

e.
Sustainable Procurement Update

This item has attachments. 
1.RPT_FA231018SustainableProcurementUpdate.pdf
2.RPT20231018_SustainableProcurementUpdate_Attch_A.pdf
3.RPT_FA231018SustainableProcurementUpdate_Attch_B.pdf
4.RPT_FA231018SustainableProcurementUpdate_Attch_C.pdf
5.RPT_FA231018SustainableProcurementUpdate_Attch_D.pdf

To be introduced by Laura Mercer, Director, Finance.


Purpose:  To provide information regarding Sustainable Procurement for the period 2022-JUL-01 to 2023-JUN-30.

f.
British Columbia Social Procurement Initiative

This item has attachments. 
1.RPT_FA231018BCSPI.pdf
2.RPT_FA231018BCSPI_AtchA.pdf
3.RPT_FA231018BCSPI_AtchB.pdf

To be introduced by Laura Mercer, Director, Finance.


Purpose:  To provide the Finance and Audit Committee with information regarding the BC Social Procurement initiative.


Recommendation:  That the Finance and Audit Committee recommend that the Mayor, on behalf of Council, sign the British Columbia Social Procurement Initiative letter to be sent to the Province of BC in support of grant funding.

g.
Debt Management Policy

This item has attachments. 
1.RPT_FA231018DebtManagementPolicy.pdf
2.RPT_FA230913DebtManagementPolicy_AttA.pdf

To be introduced by Laura Mercer, Director, Finance.


Purpose:  To present the Debt Management Policy for adoption.


Recommendation:  That the Finance and Audit Committee recommend that Council adopt the Debt Management Policy.

h.
Quarterly Budget Transfer Report

This item has attachments. 
1.RPT_FA231018_QuarterlyBudgetTransferReport.pdf

To be introduced by Laura Mercer, Director, Finance.


Purpose:  To advise the Finance and Audit Committee of any budget transfers requiring disclosure for the period 2023-JULY-31 to 2023-SEPT-30.

i.
Meal Program Funding Options

This item has attachments. 
1.RPT_FA231018MealProgramFundingOptions.pdf
2.AttA_MealProgramsInNanaimo_MealProgramFundingOptions_RPT_FA231018.pdf
3.AttB_Letter_MealProgramFundingOptions_RPT_FA231018.pdf

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


Purpose:  To provide the Finance and Audit Committee with an update on the City funded Breakfast Meal Program and funding options for establishing a permanent meal program.


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

  1. allocate $60,000 to extend the existing Breakfast Meal Program contract to 2023-DEC-31, funded by $52,880 from the Daytime Resource Centre project and $7,120 from the Strategic Infrastructure Reserve Fund; and,
  2. direct Staff to bring forward a report to Council in December 2023 with the outcome of the Reaching Home Designated Funding Program and the responses received from the Minister of Social Development and Poverty Reduction and the Minister of Housing. 

8.
OTHER BUSINESS:

 

9.
QUESTION PERIOD:

 

10.
ADJOURNMENT:

 
No Item Selected