MERGED AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

9:00 a.m. To Proceed In Camera Reconvene Regular Meeting Immediately Following the In Camera 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.
PROCEDURAL MOTION:

 

That the meeting be closed to the public in order to deal with agenda items under the Community Charter:


Section 90(1) A part of the meeting may be closed to the public if the subject matter being considered relates to or is one or more of the following:


(k) negotiations and related discussions respecting the proposed provision of a municipal service that are at their preliminary stages and that, in the view of Council, could reasonably be expected to harm the interests of the municipality if they were held in public; and


(n) the consideration of whether a Council meeting should be closed under a provision of this subsection or subsection (2).

3.
INTRODUCTION OF LATE ITEMS:

 

4.
ADOPTION OF AGENDA:

 

5.
ADOPTION OF MINUTES:

 

a.
Minutes

This item has attachments. 
1.FA250319M.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-MAR-19 at 9:00 a.m.

6.
REPORTS:

 

a.
2024 Annual Financial Statements

This item has attachments. 
1.RPT_FA250416_2024AnnualFinancialStatements.pdf
2.RPT_FA250416_2024AnnualFinancialStatements_AttachmentA.pdf
3.RPT_FA250416_2024AnnualFinancialStatements_AttachmentB_KPMGAuditFindingsReport.pdf
4.PWPT_FA250416_KPMG City of Nanaimo Summary of AFR 2024.pdf

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


Purpose: To present the 2024 Annual Financial Statements for acceptance by the Finance and Audit Committee.


Presentation

  1. Liette Bates-Eamer, Lead Audit Engagement Partner, and Sarah Burden, Senior Manager, KPMG, to provide a presentation regarding the 2024 Summary of Audit Findings.

Recommendation: That the Finance and Audit Committee recommend that Council accept the 2024 Annual Financial Statements for the City of Nanaimo.

7.
PRESENTATIONS:

 

a.
2025 - 2029 Financial Plan Recap and Decision Points

This item has attachments. 
1.PPT_FA250416_2025-2029 Financial Plan Recap and Decision Points.pdf

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


Presentation

  1. Wendy Fulla, Director, Finance.

8.
DELEGATIONS:

 

9.
REPORTS: (Continued)

 

a.
Approval to Bid to Host the 2026 Pacific Contact Showcase and Festival

This item has attachments. 
1.RPT_FA250416_PacificContactConferenceRequestforSupport.pdf
2.AttA_PacificContactRFP_RPT_FA250416.pdf
3.AttB_TourismNanaimoVenuesIncentives_RPT_FA250416.pdf
4.AttC_VICC_PCC_ScheduleAQuotes1and2_RPT_FA250416.pdf

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


Purpose: To request a financial commitment from Council regarding the proposed bid to host the 2026 Pacific Contact showcase and festival.


Recommendation: That the Finance and Audit Committee recommend that Council support the proposed bid to host Pacific Contact 2026 in Nanaimo and commit $20,000 in 2026 of the 2025 – 2029 Financial Plan, funded from the Special Initiatives Reserve.

b.
Sport Tourism Grant Funding Application Approval

This item has attachments. 
1.RPT_FA250416_SportTourismGrantFundingApplicationApproval.pdf
2.AttA_SportTournamentGrantGuidelinesAndApplication_FA250416.pdf
3.AttB_CriteriaChecklistSportTourismGrantFundingApplication_FA250416.pdf
4.AttC_SportTournamentGrantApplication_VISlopeStyle_FA250416_Redacted.pdf

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


Purpose: To seek Finance and Audit Committee approval to use funds from the Sport and Tourism Grant for sporting events that are impacted by the timeline of the Municipal and Regional District Tax (MRDT) fund transfer.


Recommendation: That the Finance and Audit Committee recommend that Council approve granting the Vancouver Island Slopestyle 2025 event at the Steve Smith Bike Park $4,500 from the Sport Tournament Grant Fund.

c.
7 Potatoes Project Update and Funding Request

This item has attachments. 
1.RPT_FA250416_7PotatoesFundingRequest_ProjectUpdate.pdf
2.Delegation Request_HirasawaTami.pdf

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


Purpose: To update the Finance and Audit Committee on the Central Vancouver Island Japanese Canadian Society (7 Potatoes) grant applications to the Japanese Canadian Legacies Society (JCLS) and to request additional funding for the Japanese-Canadian Memorial Garden and Beban Park Outdoor Performance and Gathering Space projects.


Delegation:

  1. Tami Hirasawa, 7 Potatoes.

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

  1. Increase the budget for the Japanese-Canadian Memorial Garden project by $341,000 funded from the Strategic Infrastructure Reserve Fund; and
  2. Increase the budget for the Beban Park Outdoor Performance and Gathering Space project by $400,000 funded from the Strategic Infrastructure Reserve Fund.

10.
OTHER BUSINESS:

 

11.
QUESTION PERIOD:

 

12.
ADJOURNMENT:

 
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