Financial Planning Committee Meeting Minutes

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Financial Planning Committee 
Minutes of a Regular (Electronic) Meeting  
January 22, 2020 ADOPTED Page 1 of 4 
 
Financial Planning Committee 
Minutes of Meeting 
 
Date: 
Location: 
January 22, 2020 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members Present: Peter Grove, Chair 
Paul Brent, Vice Chair (via video conference) 
Peter Luckham, Executive Committee Rep 
Sue Ellen Fast, Executive Committee Rep (via video conference) 
Laura Patrick, Executive Committee Rep (via video conference) 
Dan Rogers, Executive Committee Rep (via video conference) 
Laura Busheikin Local Planning Committee Rep (via video conference) 
Tahirih Rockafella, Local Trustee 
Scott Colbourne, Trust Programs Committee Vice Chair (audio call-in only) 
  
Members Absent: Deb Morrison, Trust Programs Committee Rep 
  
Staff Present: Russ Hotsenpiller, Chief Administrative Officer 
Julia Mobbs, Director, Administrative Services 
David Marlor, Director, Local Planning Services 
Clare Frater, Director, Trust Area Services 
Nancy Roggers, Finance Officer 
Lori Foster, Recorder 
Vicki Swan, Communications Specialist, for item 5.2. 
 
1. CALL TO ORDER 
 
Chair Grove called the meeting to order at 10:01 a.m.  
 
2. APPROVAL OF AGENDA 
 
2.1 Introduction of New Items – None 
 
2.2 Approval of Agenda 
 
By general consent, the Financial Planning Committee approved the agenda as 
presented. 
 
3. ADOPTION OF MINUTES / COORDINATION 
 
3.1 Minutes of Meetings 
 
3.1.1 November 12, 2019 
 
By general consent, the minutes were adopted as presented. 

 
 
Financial Planning Committee 
Minutes of a Regular (Electronic) Meeting  
January 22, 2020 ADOPTED Page 2 of 4 
 
3.2 Resolutions Without Meeting – None 
 
3.3 Follow up Action List (FUAL) 
 
Director of Administrative Service (DAS) Mobbs provided an update on each of the items 
in the FUAL noting that item 1., presentation on property values, is in progress and the 
Victoria Office renovation report update is marked complete for FPC but will be updated 
for Trust Council as requested at their December meeting. 
 
4. TRUST COUNCIL BUSINESS – None 
 
5. BUSINESS 
 
5.1 2020/21 Budget: Draft 2, Version 1 
 
5.1.1 Changes to the Budget – Briefing 
 
DAS Mobbs spoke to the amendments made to the draft 2020/21 budget since 
the December Trust Council meeting, including the removal of the strategic plan 
to “map and develop water budgets for groundwater aquifers.” As directed by 
Trust Council. 
 
Discussion was heard on the following: 
 The potential impact of new BC Assessment data and property value 
distribution in the Trust area; 
 The decision process around when to fund spending from surplus or 
taxation, with a note that one-time projects are typically paid for out of 
surplus funds while taxation revenue covers annual operating expenses; 
 A request from a trustee to update the business case on groundwater 
mapping and bring it back with more information for reconsideration of 
budget funding. 
 
FPC-202

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