Finance and Audit Committee Summary - March 17, 2021

Reports

Portable Radio Replacement - Fire Dispatch Transition
Council was advised that $58,000 has been added to year 2021 of the 2021–2025 Financial Plan for the replacement of Nanaimo Fire Rescue’s TK2140 portable radios which are incompatible with Surrey Fire Dispatch emergency signaling technology.
Section 7 a

2020 Budget CarryForwards
The Finance and Audit Committee was provided a summary of the 2020 budgets carried forward to 2021.
Section 7 b

2020 Surplus Allocation
The following recommendation will be going to Council for their consideration:

Council approve the allocation of the 2020 operating surplus as follows:

General Fund
a. Special Initiatives Reserve $7,482,599
b. Property Acquisition Reserve $1,000,000
Total:  $8,482,599

Sewer Fund
a. Sewer Reserve $589,873
b. Sewer Financial Stability Reserve $28,751
Total: $618,624
Section 7 c

Kal's Replay Fund
The Finance and Audit Committee was advised that the City has submitted a grant application totaling $28,519 to Kal Tire’s RePlay Fund.
Section 7 d 

Sponsorship Asset Inventory and Valuation for the City of Nanaimo, Request for Proposals to be Issued
Mayor and Council were informed that the Request for Proposals (RFP) for Sponsorship Asset Inventory and Valuation for the City of Nanaimo will be issued later in March and to obtain any feedback on the anticipated proponent’s deliverables identified in the RFP document.
Section 7 e

Port Theater - Chiller Equipment Renewal and Low Carbon Electrification Options
The following recommendation will be going to Council for their consideration:

Council direct staff to:

1. Proceed with installing the recommended Option A – Air Source Heat Recovery Heat Pump system to replace the existing chiller.

2. Increase the budget for the Port Theatre Chiller Replacement project by $500,799 in 2021 funded by $150,000 from the Emission Reduction Reserve and $350,799 from the General Asset Management Reserve.
Section 7 f

Serauxmen Stadium Maintenance for 2021
The following recommendation will be going to Council for their consideration:

Council approve adding $59,113 to the 2021 Parks Operations Budget for Parks and Facility Operations to conduct additional facility and field maintenance of Serauxmen Stadium, to be funded from General Revenue. 
Section 7 g

Beban Park Pool Improvements for 2021
The following recommendation will be going to Council for their consideration:

Council amend the 2021-2025 Financial Plan to include $255,000 in 2021 for change room and washroom upgrades at Beban Park Pool, to be funded from the Facility Development Reserve. 
Section 7 h

Proposed Development of a Medium-Sized Stadium at NDSS Community Field
The following recommendation will be going to Council for their consideration:

Council approve:

1. The NDSS Community Field be designated as the medium-sized stadium site for the City of Nanaimo;

2. That a phased implementation plan with options and costing be developed for Council’s review and consideration in making NDSS Community Field a medium-sized stadium;

3. That in development of the phased improvement plan, that shared amenities that would benefit Rotary Bowl and Serauxmen Stadium be included; and,

4. That the current Joint Use Agreement with School District #68 be updated to address any changes required of this location being a medium-sized stadium.
Section 7 i

Other Business

Nanaimo Loaves and Fishes Food Bank
The following recommendation will be going to Council for their consideration:

Council direct staff to review the Nanaimo Loaves and Fishes Food Bank’s ask for funding, identify options and provide a report to Council for information.
Section 8

March 17, 2021 Finance and Audit Committee Meeting – agenda, documents and video

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