Financial Planning Committee Meeting Agenda

· Islands Trust Area · Meeting Documents · 2016

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Topics: Fresh water & aquifers · Bylaw enforcement · First Nations & reconciliation · Governance & budget — our classification, not the Trust's.

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Financial Planning Committee
Agenda
 
 
 
Date:Wednesday, August 24, 2016
Time:10:00 am - 2:00 pm
Location:Islands Trust Victoria Boardroom
200-1627 Fort Street, Victoria, BC
Pages
1.CALL TO ORDER
2.APPROVAL OF AGENDA
3.ADOPTION OF MINUTES / COORDINATION
3.1Minutes of Meetings - May 31, 20162 - 5
3.2Follow up Action List6 - 6
4.BUSINESS
4.1Briefing - RFP for Audit Services7 - 8
4.21st Quarter Financial Results9 - 13
4.3Statement of Finance Information (SOFI) report14 - 18
4.42017/18 Budget
4.4.11st Draft Budget Assumptions & Principles19 - 25
4.4.2Timelines26 - 26
4.4.3SSI LTC Resolution27 - 28
4.5Bank of Montreal
John Perreira and Rick Wessling from BMO in attendance at 1:00 pm.
4.6FPC Report to September Trust Council29 - 29
4.7Proposed FPC dates in 201730 - 30
5.NEW BUSINESS
6.NEXT MEETING - October 18, 2016
7.ADJOURNMENT
*Approximate time is provided for the convenience of the public only and is subject to
change without notice.
1

 
 
DRAFT – Financial Planning Committee – May 31, 2016 
  1 
 
 
Financial Planning Committee 
Minutes of Meeting 
 
Date: 
Location: 
May 31, 2016 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members Present Peter Grove, Chair 
Alison Morse, Vice-Chair (on phone) 
George Harris, Local Trustee 
Derek Masselink, TPC Rep (on phone) 
Paul Brent, LPC Rep 
Peter Luckham, EC Rep 
Laura Busheikin, EC Rep 
George Grams, EC Rep 
Susan Morrison, EC Rep, TFB 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 10:00 am 
 
2. APPROVAL OF AGENDA 
 
By general consent the Committee approved the agenda as presented. 
 
3. ADOPTION OF MINUTES / COORDINATION 
 
3.1 Minutes of Meeting - March 2, 2016 
 
The minutes of March 2, 2016 were adopted by general consensus. 
 
3.2 Follow up Action List 
 
Cindy Shelest provided an update on each of the items on the follow up action 
list. 
 
The Committee request that the KPMG report on Information technology be 
circulated now.  
 
 
 
2

 
 
DRAFT – Financial Planning Committee – May 31, 2016 
  2 
 
 
4. BUSINESS 
 
 
 
4.1 Briefing Lasqueti Energy Project Grant Revenues 
 
Director Shelest reviewed the briefing on the Lasqueti Energy Project grant 
revenues with the Committee.  
 
Trustee Morse raised the concern about the potential need to adjust the financial 
plan with respect to increased expenditures on this project.  Director Shelest and 
the remainder of the Committee have no concerns in this regard. 
 
4.2 Victoria Office Lease 
 
Director Shelest advised that the Victoria Office Lease has been renewed for an 
additional year at the same rates until September 30, 2017 and further advised 
that the Executive Committee had passed a resolution approving this renewal. 
 
4.3 RFD 2015/16 Annual Report 
  
The Comm

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