Financial Planning Committee Meeting Minutes

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FINAL – Financial Planning Committee Minutes – January 19, 2011 1 
Financial Planning Committee 
Meeting Minutes 
January 19, 2011 
 
Location:   Victoria Boardroom 
 
Date:     January 19, 2011 
 
Attending: Alison Morse (Chair), Louise Bell, Peter Luckham, Christine 
Torgrimson, Sheila Malcolmson, David Graham, Joyce Clegg, 
Sue French, Gary Steeves 
 
Absent: Susan Morrison 
 
Staff: Linda Adams, Craig Elder, Lisa Dunn, Mac Fraser, Laura 
Stringer, Carmen Thiel and Nancy Roggers 
 
Call to order:   10:02 a.m. 
 
 
1.  Approval of      
Agenda  
The agenda was approved as circulated by consensus. 
 
  
 
2.  Minutes of      The following changes were requested: 
previous meeting  
November 18, 2010 Page 3 – reword Resolution FIN768/10 as discussed and 
approved by Committee. 
Page 4 –correct spelling of forecast, correct agenda item to 
read 4.4.7., and remove apostrophe from OCP’s.    
 Page 8 – Remove apostrophe from Local Trust Committee’s 
 Page 10 – reword section to say “Chair Morse suggested that 
the two November meetings could be combined into one 
longer meenting. 
Page 11 – Next meeting is on “Wednesday” January 19, 2011 
  
Resolution FIN790/11 
It was moved and seconded that the Financial Planning 
Committee adopt the minutes of November 18, 2010 as 
amended. 
 
CARRIED UNANIMOUSLY  
 
 

FINAL – Financial Planning Committee Minutes – January 19, 2011 2 
3.  Follow up Action List 
Craig Elder discussed the Financial Planning Committee’s 
(FPC) follow up action list (FUAL).  He advised that additions 
would be made to it from resolutions passed at Trust Council 
and Executive in December, 2010. 
 
4.  4.1.2. 2011/12 Budget 
Public Consultation Materials 
 
Craig Elder reviewed changes to the budget summary 
document that had been made since the November 18, 2010 
FPC meeting. 
 REVENUE CHANGES 
• Grant revenues and expenses have been adjusted to 
match the confirmation of funding that will be received 
for the Green Shores project; 
• $4,000 in additional revenue has been added for 
mapping services that will be provided to Bowen Island; 
• Bowen Island tax contribution decreased based on the 
ratio of expenditures for Trust Council and Local 
Planning Services.   
 
EXPENSE CHANGES 
• Adjustment to trustee remuneration amounts due to a 
miscalculation; 
• Reduction of Amortization by $10,000; 
• Reduction of $12,500 property tax obligation to pay on 
Trust Fund Board property has ended; 
• Minor rounding adjustments on salaries and benefits 
 
Craig Elder advised FPC that the tax percentage increase is at 
3.66% after these adjustments. 
 
Resolution FIN791/11 
It was moved and seconded that the Financial Planning 
Committee accept the changes to the 2011/12 budget as 
outlined in document 4.1.2. 
CARRIED UNANIMOUSLY  
  
5.  4.1.3. 
Budget submission – sponsor 
Affordable housing applications 
And reduce trustee remunerations 
 
The Financial Planning Committee received Trustee Law’s 
submission on sponsoring affordable housing ap

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