Finance and Audit Committee - October 21, 2020

Reports

The following recommendations will be going to Council for approval:

Facilities Valuation Study
Approve accelerating $50,000 in grant funding for the Facilities and Park Amenities Condition Assessment Program from 2021 to 2020 for the purposes of a facilities valuation exercise.
Section 7 a

Community Resiliency Investment Program (FireSmart Community Funding and Supports Program)
Support the City of Nanaimo’s application to the Union of BC Municipalities for the Community Resiliency Investment Program (FireSmart Community Funding and Supports Program) and if successful the project will be added to the 2021-2025 Financial Plan.
Section 7 c

2021 Social Planning Grant Increase
Authorize Staff to advertise that an additional $30,000 of Social Response Grant funding is available for projects that specifically address community wellness or addictions response.
Section 7 d

Asset Management Update
Approve extending the annual 1% property tax increase contribution to the General Asset Management Reserve for five (5) years or until the next asset management update and recommendations are presented to Council and include this change in the 2021-2025 Financial Plan.

Approve extending the annual 2.5% water user fee increase for 2021 for contributions to the Water Asset Management Fund reserve and include this change in the 2021-2025 Financial Plan.
Section 7 e

Draft 2021 Key Date Calendar
The Finance and Audit Committee:

  1. Selected the third Wednesday of the month as their reoccurring meeting date
  2. Will hold meetings in-person at the Shaw Auditorium
  3. Selected the 2021 Finance and Audit Committee Key Date Calendar.

Section 7 h

October 21, 2020 Finance and Audit Committee Meeting – agenda, documents and video

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