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Audit
Committee Minutes
City
of Peterborough
June 22, 2015
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Minutes of a Meeting
of Audit Committee held on Monday, June 22, 2015 in the Doris Room, City Hall
The meeting of the Audit Committee was
called to order at 4:15 p.m. in the Doris Room.
Audit
Committee Members:
Councillor
Beamer
Councillor
Clarke, Chair
Councillor
Baldwin
Mayor
Bennett
Regrets:
Councillor
Vassiliadis
Staff:
Allan
Seabrooke, Chief Administrative Officer
Wayne
Jackson, Director of Utility Services
Sandra
Clancy, Director of Corporate Services
Patricia
Lester, City Solicitor and Director of Legal Services
Richard
Freymond, Manager of Financial Reporting and Accounting
Darren
Hancock, Chief Account
Minutes – September 22, 2014
Moved
by Mayor Bennett
That the minutes of the Audit
Committee meeting held on September 22, 2014 be approved.
“CARRIED”
Disclosure of Pecuniary Interest
There
were no disclosures of Pecuniary Interest.
Consent Agenda
Moved
by Mayor Bennett
That
items 3, 4, 5 and 6 be passed as part of the Consent Agenda.
“CARRIED”
The
Committee made general comments on the financial stability of the municipality.
Director of Corporate Services
Report CPFS15-029
Audit of the Consolidated Financial Statements of the
City of Peterborough – Acknowledgement Letter
Moved by Mayor Bennett
That Council approve the
recommendations outlined in report CPFS15-029 dated June 22, 2015, of the
Director of Corporate Services as follows:
a) That the Acknowledgement
Letter Audit of the Consolidated Financial
Statements of the City of
Peterborough be received.
b) That the Mayor and Chair of
the Audit Committee be authorized to sign the
acknowledgement letter.
“CARRIED”
Director of Corporate Services
Report CPFS15-031
Management Letter and Verbal Audit Findings Report for
the year ended December 31, 2014
Moved by Mayor Bennett
That Council approve the
recommendation outlined in report CPFS15-031 dated June 22, 2015, of the
Director of Corporate Services as follows:
That the audit of the December 31,
2014 Financial Statements Letter (Management Letter) appended to report
CPFS15-031 and the Verbal Audit Findings Report presented by Collins Barrow
Kawarthas LLP for the year ended December 31, 2014 be received as information.
“CARRIED”
Director of Corporate
Services
Report CPFS15-032
Tax Adjustments under
Section 356 and Tax Appeals under Sections 357, 358 and 359 of the Municipal
Act, 2001.
Moved by Mayor Bennett
That Council approve the
recommendations outlined in report CPFS15-032 dated June 22, 2015, of the Director of Corporate
Services as follows:
a)
That
tax reductions in the amount of $86,026.00, calculated in accordance with
Sections 357, 358 and 359 of the Municipal Act, 2001 and attached to
report CPFS15-032 as Appendix A be received.
b)
That
land apportionments under Section 356 of the Municipal Act, 2001 be
received.
“CARRIED”
Director of Corporate
Services
Report CPFS15-030
Treasurer’s Report,
2014 Consolidated Financial Report, 2014 Trust Funds Financial Statement and
Five-Year Review
Moved by Mayor Bennett
That Council approve the
recommendations outlined in report CPFS15-030 dated June 22, 2015, of the
Director of Corporate Services as follows:
a)
That
Report CPFS15-030, Treasurer’s Report, 2014 Consolidated Financial Report, the
2014 Trust Funds Financial Statement and Five Year Review be received as
information.
b)
That
the underlying accounting policies as detailed in the Notes to the Financial
Statements be approved.
c) That
the Treasurer’s Report, 2014 Consolidated Financial Report and 2014 Trust Funds
Financial Statement, as presented and received, be submitted to the Province of
Ontario.
“CARRIED”
Other Business
There were no items of Other Business.
Adjournment
Moved
by Mayor Bennett
That
this meeting of Audit Committee adjourn at 4:21 p.m.
"CARRIED"
John
Kennedy
City
Clerk
Councillor
Clarke
Chair