AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

Wednesday, March 17, 2021 at 9:00 A.m. - 12:00 P.m.

SHAW AUDITORIUM, VANCOUVER ISLAND CONFERENCE CENTRE

80 COMMERCIAL STREET, NANAIMO, BC

SCHEDULED RECESS AT 10:30 A.M.

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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, 2021-FEB-17, at 9:00 a.m.

5.

PRESENTATIONS:

6.

DELEGATIONS:

a.

Peter Sinclair, Nanaimo Loaves and Fishes Food Bank, to speak regarding seeking financial support to build a new food warehouse and distribution centre.

7.

REPORTS:

a.

TK2140 Portable Radio Replacement - Fire Dispatch Transition

To be introduced by Tim Doyle, Fire Chief.

Purpose:  To advise Council that $58,000 has been added to year 2021 of the 2021 – 2025 Financial Plan for the replacement of Nanaimo Fire Rescue’s TK2140 portable radios which are incompatible with Surrey Fire Dispatch emergency signaling technology.

b.

2020 Budget CarryForwards

To be introduced by Shelley Legin, General Manager, Corporate Services. 

Purpose:  To provide the Finance and Audit Committee with a summary of the 2020 budgets carried forward to 2021.

c.

2020 Surplus Allocation

To be introduced by Shelley Legin, General Manager, Corporate Services. 

Purpose:  To provide the Finance and Audit Committee with information pertaining to the allocation of the 2020 operating surplus.

Recommendation:  That the Finance and Audit Committee approve the allocation of the 2020 operating surplus as follows:

1. General Fund

1. Special Initiatives Reserve $7,482,599
2. Property Acquisition Reserve $1,000,000
   Total:  $8,482,599

2. Sewer Fund

1. Sewer Reserve $589,873
2. Sewer Financial Stability Reserve $28,751
   Total:  $618,624

d.

Kal's Replay Fund

To be introduced by Shelley Legin, General Manager, Corporate Services.

Purpose:  To advise the Finance and Audit Committee that the City has submitted a grant application totaling $28,519 to Kal Tire’s RePlay Fund. 

e.

Sponsorship Asset Inventory and Valuation for the City of Nanaimo, Request for Proposals to be Issued

To be introduced by Laura Mercer, Director, Finance.

Purpose:  To inform Mayor and Council that the Request for Proposals (RFP) for Sponsorship Asset Inventory and Valuation for the City of Nanaimo will be issued later in March and to obtain any feedback on the anticipated proponent’s deliverables identified in the RFP document. 

f.

Port Theater - Chiller Equipment Renewal and Low Carbon Electrification Options

To be introduced by Richard Harding, General Manager, Parks, Recreation and Culture.

Purpose:  To provide information to Council on equipment renewal options for the Port Theatre, and request additional funding to support replacing the existing chiller with one of the heat pump systems recommended.

Recommendation:  That the Finance and Audit Committee recommend that Council direct Staff to:

1. Proceed with installing the recommended Option A – Air Source Heat Recovery Heat Pump system to replace the existing chiller; and,
2. Increase the budget for the Port Theatre Chiller Replacement project by $500,799 in 2021 funded by $150,000 from the Emission Reduction Reserve and $350,799 from the General Asset Management Reserve.

g.

Serauxmen Stadium Maintenance for 2021

To be introduced by Richard Harding, General Manager, Parks, Recreation and Culture.

Purpose:  To request Council’s approval to amend the 2021 Parks Operations budget to include funding for additional facility and field maintenance of Serauxmen Stadium.

Recommendation:  That the Finance and Audit Committee recommend that Council approve adding $59,113 to the 2021 Parks Operations Budget for Parks and Facility Operations to conduct additional facility and field maintenance of Serauxmen Stadium, to be funded from General Revenue.  

h.

Beban Park Pool Improvements for 2021

To be introduced by Richard Harding, General Manager, Parks, Recreation and Culture.

Purpose:  To obtain Council approval to amend the 2021-2025 Financial Plan to include funding for facility upgrades at Beban Park Pool.

Recommendation:  That the Finance and Audit Committee recommend that Council amend the 2021-2025 Financial Plan to include $255,000 in 2021 for change room and washroom upgrades at Beban Park Pool, to be funded from the Facility Development Reserve.

i.

Proposed Development of a Medium-Sized Stadium at NDSS Community Field

To be introduced by Richard Harding, General Manager, Parks, Recreation and Culture.

Purpose:  To obtain approval from Council regarding a phased implementation plan for the development of a medium-sized stadium at the NDSS Community Field.

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

1. The NDSS Community Field be designated as the medium-sized stadium site for the City of Nanaimo;
2. That a phased implementation plan with options and costing be developed for Council’s review and consideration in making NDSS Community Field a medium-sized stadium;
3. That in development of the phased improvement plan, that shared amenities that would benefit Rotary Bowl and Serauxmen Stadium be included; and,
4. That the current Joint Use Agreement with School District #68 be updated to address any changes required of this location being a medium-sized stadium.

8.

OTHER BUSINESS:

9.

ADJOURNMENT: