MERGED AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

Wednesday, April 17, 2024

9:00 A.M. To Proceed In Camera, Reconvene Open Meeting at 10:00 A.M.

SHAW AUDITORIUM, VANCOUVER ISLAND CONFERENCE CENTRE

80 COMMERCIAL STREET, NANAIMO, BC

SCHEDULED RECESS AT 12:00 P.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.

PROCEDURAL MOTION:

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

Community Charter Section 90(1): 

(d) the security of property of the municipality;

(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 the Council, could reasonably be expected to harm the interests of the municipality if they were held in public; and,

Community Charter Section 90(2):

(b) the consideration of information received and held in confidence relating to negotiations between the municipality and a provincial government or the federal government or both, or between a provincial government or the federal government or both and a third party.

5.

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-MAR-20, at 9:00 a.m.

6.

PRESENTATIONS:

a.

City of Nanaimo Canadian Award for Financial Reporting for the Fiscal Year Ending December 31, 2022

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

7.

DELEGATIONS:

8.

REPORTS:

a.

2023 Annual Financial Statements

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

Purpose:  To present the 2023 Annual Financial Statements for acceptance by the Finance and Audit Committee.

Presentation:

1. Liette Bates-Eamer, KPMG, and Sarah Burden, KPMG, to provide a presentation regarding the 2023 Summary of Audit Findings.

Recommendation:  That the Finance and Audit Committee recommend that Council accept the 2023 Annual Financial Statements for the City of Nanaimo.

1.

Add - PowerPoint presentation titled "City of Nanaimo Summary of Audit Findings"

b.

British Columbia Social Procurement Initiative (BCSPI) 2024 Annual Review

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

Purpose:  To provide Council with an update on the status of the British Columbia Social Procurement Initiative’s (BCSPI) request for Provincial funding and seek direction on membership renewal.

Recommendation:  That the Finance and Audit Committee receive an update on the British Columbia Social Procurement Initiative and determine whether or not to recommend to Council to renew the City’s membership for 2024. 

c.

Update of Reserve Policy

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

Purpose:  To update the Reserve Policy to reflect the new Online Accommodation Platform Reserve Fund and changes to the Housing Legacy Reserve Fund.

Recommendation:  That the Finance and Audit recommend that Council amend Reserve Policy COU-231 to include the new Online Accommodation Platform Reserve Fund and reflect the changes to the Housing Legacy Reserve Fund. 

d.

Community Resiliency Investment Program (FireSmart Community Funding and Supports Program)

To be introduced by Tim Doyle, Fire Chief, Fire Rescue.

Purpose:  To gain Council’s support in applying for a grant under the Community Resiliency Investment Program for FireSmart activities in the City of Nanaimo for 2024.

Recommendation:  That the Finance and Audit Committee recommend Council endorse an application to the Community Resiliency Investment Program and if successful the 2024-2028 Financial Plan be amended to include this grant. 

e.

Non-Market Housing Permissive Exemption Policy Options

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

Purpose:  To present the Finance and Audit Committee with policy options related to Permissive Tax Exemptions for Non-Market Housing.

Presentation:

1. Jamie Slater, Manager, Financial Services and Special Projects, and Kasia Biegun, Planner.

Recommendation:  That the Finance and Audit Committee recommend that Council direct Staff to bring forward a new ‘Permissive Tax Exemption’ policy that includes criteria for non-market housing as outlined in the Staff report dated 2024-APR-17, and a separate ‘Other Grants Policy’ for the City’s other grant programs.   

f.

Give Where You Live Grant Application Update Harry Wipper Park

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

Purpose:  To advise the Finance and Audit Committee that the City has submitted a grant application to the Nanaimo Foundation’s “Give Where You Live” fund for the Rocky Point Neighbourhood Association’s Partners in Parks Project at Harry Wipper Park. 

g.

Marie Davidson BMX Park Redevelopment

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

Purpose:  To update the Finance and Audit Committee on project progress and to request additional funds to complete the Marie Davidson BMX Redevelopment Project (the “Project”).

Recommendation:  That the Finance and Audit Committee recommend that Council increase the 2024 project budget for the Marie Davidson BMX Park by $330,000 from $1,507,827 to $1,837,827 and fund the increase from the Growing Communities Fund Reserve.

h.

2024-2028 Financial Plan Update

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

Presentation:

1. Wendy Fulla, Director, Finance.

9.

OTHER BUSINESS:

10.

QUESTION PERIOD:

11.

ADJOURNMENT: