Financial Planning Committee Meeting Minutes

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Financial Planning Committee Minutes of Meeting – February 28, 2017 Page 1 
 
Financial Planning Committee 
Minutes of Meeting 
 
Date: 
 
Location: 
February 28, 2017 
 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members Present Peter Grove, Chair 
Alison Morse, Vice-Chair (by phone) 
Paul Brent, LPC Rep (by phone) 
Peter Luckham, EC Rep 
Laura Busheikin, EC Rep 
George Grams, EC Rep 
Susan Morrison, EC Rep 
Brian Crumblehulme, TPC Rep 
George Harris, Local Trustee (by phone) 
 
Staff Present Cindy Shelest, Director Administrative Services 
David Marlor, Director Local Planning Services 
Clare Frater, Director Trust Area Services 
Robert Barlow, Recorder 
 
1. CALL TO ORDER 
 
The meeting was called to order at 10:01 a.m. 
 
2. APPROVAL OF AGENDA 
 
By general consent the agenda was approved. 
 
3. ADOPTION OF MINUTES / COORDINATION 
 
3.1 Minutes of Meetings - January 17, 2017 
 
By general consent the Financial Planning Committee minutes of January 17, 
2017 were adopted as presented. 
 
3.2 Follow up Action List 
 
Director Shelest provided an update on each of the items in the follow up action list. 
 
4. TRUST COUNCIL BUSINESS 
 
4.1 RFD – December 31, 2016 Quarterly Financial Report 
 
FPC-2017-007 
It was MOVED and SECONDED, 
that the Request for Decision “December 31, 2016 Quarterly Financial Report” as 
presented be forwarded to the March 2017 Trust Council meeting. 
 
CARRIED 
 

 
Financial Planning Committee Minutes of Meeting – February 28, 2017 Page 2 
4.2 Briefing - 2016-17 Financial Forecast 
 
The Committee requested an amendment to the explanation related to statutory 
notices in the Expenditures section of the briefing. 
 
FPC-2017-008 
It was MOVED and SECONDED, 
that the Briefing “2016-17 Financial Forecast for the year ended March 31, 2017, 
based on actual results to December 31, 2106” as amended be forwarded to the 
March 2017 Trust Council meeting. 
CARRIED 
 
4.3 Finalize 2017/18 Proposed Budget 
 
4.3.1 Briefing Changes since November FPC meeting 
 
The briefing was reviewed by the Committee. 
 
4.3.2 Review Public Feedback Received 
 
The feedback was reviewed by the Committee. 
 
4.3.3 Briefing Trustee Remuneration 
 
FPC-2017-009 
It was MOVED and SECONDED, 
that there are no changes to be made to the 2017/18 budget for Trustee 
Remuneration prior to forwarding to the March 2017 Trust Council meeting.  A 
recommendation to amend Trust Council Policy 7.2.i to indicate that base rates will 
be adjusted according to the Victoria Consumer Price Index on an annual basis will 
be forwarded to the June 2017 Trust Council meeting.  Furthermore, any resulting 
adjustments to remuneration will be retroactive to April, 2017. 
CARRIED 
 
4.3.4 General Revenue Surplus Fund Policy 
 
FPC-2017-010 
It was MOVED and SECONDED, 
that the Request for Decision “Revisions to Trust Council Policy 6.5.i General 
Revenue Fund Surplus Policy and Rename to Reserves and Surplus Policy” not be 
forwarded to the Mar

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