Financial Planning Committee Meeting Minutes

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Final – Financial Planning Committee – October 19, 2016
 1 
 
Financial Planning Committee 
Minutes of Meeting 
 
Date: 
Location: 
October 19, 2016 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members Present Peter Grove, Chair 
Alison Morse, Vice-Chair 
George Harris, Local Trustee (by phone) 
Brian Crumblehume, TPC Rep 
Paul Brent, LPC Rep 
Peter Luckham, EC Rep 
Laura Busheikin, EC Rep (by phone) 
George Grams, EC Rep (by phone) 
Susan Morrison, EC Rep 
 
Staff Present Cindy Shelest, Director Administrative Services 
Nancy Roggers, Finance Officer 
Russ Hotsenpiller, Chief Administrative Officer 
David Marlor, Director Local Planning Services 
Lisa Gordon, Director Trust Area Services 
 
  
 
 
1. CALL TO ORDER 
 
The meeting was called to order at 10:01 am 
 
2. APPROVAL OF AGENDA 
 
Status of hiring for the new Director of Administrative Services was added to new 
business.  
 
By general consent, the Committee approved the amended agenda. 
 
3. ADOPTION OF MINUTES / COORDINATION 
 
3.1 Minutes of Meeting - August 24, 2016 
   
  Amend heading of 4.3 to “Financial” from Finance 
  Amend next meeting date to October 19, 2016 
 
By general consent, the minutes of August 24, 2016 were adopted. 
 
 
 

 
Final – Financial Planning Committee – October 19, 2016
 2 
3.2 Follow up Action List 
 
Director Shelest provided an update on each of the items in the FUAL. 
 
 
4. BUSINESS 
 
 
4.1 1st Consideration of Proposed 2017/18 Budget 
 
Chief Administrative Officer Hotsenpiller introduced the first draft of the 2017/18 
budget. He advised that the next draft would be coming to the November 
Financial Planning Committee meeting before going to Trust Council in 
December.   
 
4.1.1 Briefing 2017-18 proposed budget 
 
This draft is prior to release of the second quarter results which will be 
coming to the committee in November.  The second quarter results and 
forecast for 2016-17 may affect the budget funds being requested. This 
draft of the 2017/18 budget shows a $400,000 increase which will be 
reviewed today.  
He advised that he would like to discuss the notion of how we deal with 
the general revenue fund and surplus amounts with a view to developing 
more specific reserves that can carry forward from one year to the next. 
He feels that this would provide more transparency. 
 
FPC-2016-028 
It was MOVED and SECONDED 
that the Financial Planning Committee direct staff to come back to the 
November FPC meeting with recommended changes to the general 
revenue fund surplus policy       
  
        CARRIED 
 
Director Shelest advised the committee that she will not be leaving the 
Islands Trust.  Committee members expressed their pleasure.  Chief 
Administrative Officer Hotsenpiller advised that Cindy will be returning to 
full time work starting now. 
 
 
4.1.2 Detail 
 
Director Shelest advised that all documents are before the Committee 
and requested that any changes be made by resolution. She further 
advised that

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