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Audit
Committee Minutes
City
of Peterborough
June 23, 2014
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Minutes of a Meeting
of Audit Committee Held on Monday, June 23, 2014 in the Peterborough Room, City
Hall
The meeting of the Audit Committee was
called to order at 5:00 p.m. in the Peterborough Room.
Audit
Committee Members:
Councillor
Beamer
Councillor
Clarke, Chair
Councillor
Doris
Councillor
Juby (5:01 p.m.)
Regrets:
Mayor
Bennett
Staff:
Brian
Horton, Chief Administrative Officer
Sandra
Clancy, Director of Corporate Services
Richard
Freymond, Manager of Financial Reporting and Accounting
Minutes – October 15, 2013
Moved
by Councillor Doris
That
the minutes of the Audit Committee meeting held on October 15, 2013 be approved.
“CARRIED”
Disclosure of Pecuniary Interest
There
were no disclosures of Pecuniary Interest.
Consent
Agenda
Moved
by Councillor Juby
That
items 3, 4 and 5 be passed as part of the Consent Agenda.
“CARRIED”
Director
of Corporate Services
Report CPFS14-017
Tax Adjustments under Section 356 and Tax Appeals under
Sections 357, 358 and 359 of Municipal Act, 2001
Moved by Councillor Juby
That Council approve the recommendations
outlined in report CPFS14-017 dated June 23, 2014, of the Director of Corporate
Services as follows:
a) That tax
reductions in the amount of $276,003.10, calculated in accordance with Sections
357, 358 and 359 of the Municipal Act, 2001 and attached to report CPFS14-017
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 CPFS14-014
Audit of the Consolidated Financial Statements of the
City of Peterborough - Acknowledgement Letter
Moved by Councillor Juby
That Council approve the
recommendations outlined in report CPFS14-014 dated June 23, 2014, 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 CPFS14-015
Treasurer's Report, 2013 Consolidated Financial Report,
2013 Trust Funds Financial Statement and Five-Year Review
Moved by Councillor Juby
That Council approve the
recommendations outlined in report CPFS14-015 dated June 23, 2014, of the Director
of Corporate Services as follows:
a) That Report CPFS14-015,
Treasurer’s Report, 2013 Consolidated Financial
Report, the 2013 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, 2013 Consolidated Financial Report and 2013 Trust Funds
Financial Statement, as presented and received, be submitted to the Province of
Ontario.
“CARRIED”
Director of Corporate Services
Report CPFS14-016
Management Letter and Verbal Audit Findings Report for
the year ended December 31, 2013
Moved by Councillor Beamer
That Council approve the recommendation
outlined in report CPFS14-016 dated June 23, 2014, of the Director of Corporate
Services as follows:
That the audit of the December 31,
2013 Financial Statements Letter (Management Letter) appended to report
CPFS14-016 and the Verbal Audit Findings Report presented by Collins Barrow
Kawarthas LLP for the year ended December 31, 2013 be received as information.
“CARRIED”
Director
of Corporate Services
Report CPFS14-019
Audit Committee Terms
of Reference
Moved by Councillor Doris
That Council approve the recommendation
outlined in report CPFS14-019 dated June 23, 2014, of the Director of Corporate
Services as follows:
That the amended Audit Committee Terms
of Reference, attached to report CPFS14-019 as Appendix A be approved.
“CARRIED”
Other Business
Councillors
Clarke and Doris signed the Audit of the Consolidated Financial Statements of
the City of Peterborough - Acknowledgment Letter.
Adjournment
Moved
by Councillor Juby
That
this meeting of Audit Committee adjourn at 5:08 p.m.
"CARRIED"
John
Kennedy
City Clerk
Councillor Clarke
Chair