Financial Planning Committee Special Meeting Minutes

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ADOPTED 
Financial Planning Committee 
Minutes of a Special Meeting 
February 1, 2024 ADOPTED Page 1 of 3 
Financial Planning Committee 
Minutes of a Special Meeting 
 
Date of Meeting:  
Location:  
February 1, 2024 
Electronic Meeting 
 
Members Present:  
 
Joe Bernardo, Local Trustee (Chair) 
Mairead Boland, Local Trustee (Vice Chair) 
Tobi Elliott, Executive Committee Representative 
Kristina Evans, Trust Programs Committee Representative 
David Graham, Local Trustee 
Jamie Harris, Governance Committee Representative 
Peter Luckham, Executive Committee Representative 
David Maude, Executive Committee Representative 
Laura Patrick, Regional Planning Committee Representative 
Tim Peterson, Executive Committee Representative 
  
Member Regrets:  
 
Susan Yates, Islands Trust Conservancy Board Representative 
Staff Present: David Marlor, Director, Legislative Services 
Robert Barlow, Legislative Services Clerk/Recorder 
  
1. CALL TO ORDER 
 
Chair Bernardo called the meeting to order at 2:00 p.m. and acknowledged the privilege to work 
and live in lands and waters that have been the traditional home of indigenous peoples since 
time immemorial.  
 
2. AGENDA 
 
2.1 Review of the Agenda 
 
No additions to the agenda were presented for consideration. 
 
2.2 Approval of the Agenda 
 
By general consent the Committee approved the agenda as presented. 
 
3. BUSINESS 
 
3.1 Budget Guidelines – Discussion 
 
Committee discussion included: 
 a five year financial plan is challenging as many variables can impact a budget in 
future years 
 potential guidelines include: 
 require options of 1% and 2% decreases in budget 

ADOPTED 
Financial Planning Committee 
Minutes of a Special Meeting 
February 1, 2024 ADOPTED Page 2 of 3 
 prioritize or “weight” projects that respond to certain criteria such as 
Reconciliation and Housing 
 prioritize items that demonstrate an urgent need 
 limit departmental budget to X% increase 
 limit total budget to X% tax increase 
 link tax increases to the Consumer Price Index 
 guidelines for the current budget and guidelines for future budgets 
 review of the economic situation of residents and impact of budgets 
 prioritize activities that would create efficiencies 
 
Other considerations included: 
 linking property taxes to income 
 charging the full cost of development applications so that planning costs are not 
subsidized by other property owners 
 whether Trust Area residents pay more than other residents in the province because 
they contribute towards a regional district as well as towards Islands Trust 
 the Bowen Island Municipality tax levy is a structural issue that depresses financial 
support to the Islands Trust Conservancy and planning that can’t be solved by 
guidelines 
 guidelines can be reviewed each year 
 how to manage extraordinary expenses such as the need for the Chief 
Administrative Officer Hiring Committee and the Salt Spring Island office relocation 
 
The Committee drafted th

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