FINANCE COMMITTEE

MINUTES

-
Council Chambers, Brantford City Hall
58 Dalhousie Street, Brantford
Present:
  • Mayor Davis, 
  • Councillor Sullivan, 
  • Councillor Caputo, 
  • Councillor Martin, 
  • Councillor Hunt, 
  • and Councillor VanTilborg 
Regrets:
  • Councillor Sicoli, 
  • Councillor Sless, 
  • Councillor McCreary, 
  • Councillor Carpenter, 
  • and Councillor Samwell 

1.
ROLL CALL

 

2.
DECLARATIONS OF CONFLICTS OF INTEREST

 

There were no declarations of conflicts of interest noted.

3.
SEPARATION OF ITEMS FOR BUDGET REPORTS, ITEMS FOR CONSIDERATION AND CONSENT ITEMS FOR DISCUSSION PURPOSES

 
  • Moved byCouncillor Sullivan
    Seconded byCouncillor Hunt

    THAT all items for consideration/consent (5.1-5.3) not separated for discussion purposes BE APPROVED.

    YES: (5)Mayor Davis, Councillor VanTilborg, Councillor Martin, Councillor Hunt, and Councillor Sullivan
    CARRIED (5 to 0)

4.
DELEGATIONS/PRESENTATIONS

 

4.1
DELEGATIONS [list, if any, available at the meeting]

 

4.2
PRESENTATIONS

 

Tareq El-Ahmed, Chief Financial Officer appeared before Committee and presented a powerpoint slideshow, a copy of which has been placed in the file.

Tareq El-Ahmed and Chief Davis responded to various questions of Committee.

5.
BUDGET REPORTS/ ITEMS FOR CONSIDERATION/ CONSENT

 

5.1
BUDGET REPORTS

 

5.2
ITEMS FOR CONSIDERATION

 
  • Moved byCouncillor Sullivan
    Seconded byCouncillor VanTilborg

    THAT all items for consideration/consent (5.1-5.3) separated for discussion purposes BE APPROVED.

5.2.1
2023 Variance Update to Include the Brantford Police Service [Financial Impact – $1.74 million deficit], 2023-674

This item has attachments. 
1.2023 Variance Report Update to Include the Brantford Police Service - 2023-674.pdf
2.Appendix A - BPS Operating Actual to Budget Report.pdf
    1. THAT report 2023-674 titled 2023 Variance Update to Include the Brantford Police Service BE RECEIVED; and
    2. THAT staff BE DIRECTED to earmark an additional $1.74 million from the Corporate Contingency Reserve (RF0554) in the event it is needed to address the forecasted deficit being projected by the Brantford Police Service for 2023.
  • Moved byCouncillor Caputo
    Seconded byMayor Davis

    THAT report 2023-613 BE DEFERRED for one meeting cycle (dec 13)

    YES: (5)Mayor Davis, Councillor VanTilborg, Councillor Martin, Councillor Hunt, and Councillor Caputo
    CARRIED (5 to 0)

5.2.2
Update on Capital Projects [Financial Impact – Net $4,400,407 returned to reserves], 2023-613

This item has attachments. 
1.Update on Capital Projects - 2023-613.pdf
2.Appendix A - 2023 Completed Projects as of September.pdf
3.Appendix B - Capital Projects closed with no spending.pdf

Caputo - 4:41 arrived

    1. THAT report 2023-613 entitled Update on Capital Projects BE RECEIVED; and
    2. THAT the capital project funding allocations included in Table-1 of Section 10 BE APPROVED.
    YES: (5)Mayor Davis, Councillor VanTilborg, Councillor Martin, Councillor Hunt, and Councillor Sullivan
    CARRIED (5 to 0)

5.2.3
Update to Finance Policies [Financial Impact – None], 2023-402

This item has attachments. 
1.Update to Finance Policies - 2023-402.pdf
2.Appendix A - Finance 004 - Investment Policy.pdf
3.Appendix B - Finance-006 Lease Financing Policy.pdf
4.Appendix C - Finance 007 - Commodity Price Hedging Policy.pdf
5.Appendix D - Finance 013 - Development Charges Interest Policy.pdf
    1. THAT report 2023-402, Update to Finance Policies, BE RECEIVED; and
    2. THAT the necessary by-law to amend by-law 70-2010, Being a Bylaw to adopt various policies of the City of Brantford and to create a Corporate Policy Manual BE PRESENTED to City council for adoption by repealing and replacing the following policies:
      1. Finance Policy 004 – Investment Policy;
      2. Finance Policy 006 – Lease Financing Policy;
      3. Finance Policy 007 – Commodity Price Hedging;
      4. Finance Policy 013 – Development Charge Interest Policy.

5.3
CONSENT ITEMS

 

6.
RESOLUTIONS

 

7.
NOTICES OF MOTION

 

8.
ADJOURNMENT

 

The meeting adjourned at 5:41 p.m.

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