Financial Planning Committee Meeting Minutes

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Final – Financial Planning Committee – August 26, 2015
 
1 
 
Financial Planning Committee 
Minutes of Meeting 
 
Date: 
Location: 
August 26, 2015 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members Present 
 
 
 
 
 
 
 
 
 
 
Regrets 
 
Peter Grove, Chair 
Alison Morse, Vice-Chair 
Paul Brent, LPC Rep 
Dereck Atha, TFB Rep (by phone) 
Peter Luckham, EC Rep 
Laura Busheikin, EC Rep (by phone) 
George Grams, EC Rep 
Susan Morrison, EC Rep 
George Harris, Local Trustee (by phone) 
 
 
Derek Masselink, TPC Rep 
 
Staff Present Cindy Shelest, Director Administrative Services 
Nancy Roggers, Finance Officer 
Linda Adams, Chief Administrative Officer 
David Marlor, Director Local Planning Services 
Lisa Gordon, Director Trust Area Services 
Ann Kjerulf, Northern Office Regional Planning Manager 
 
1. CALL TO ORDER 
 
The meeting was called to order at 10:05 am 
 
Director Marlor introduced the new Northern Office Regional Planning Manager, Ann 
Kjerulf. 
 
2. APPROVAL OF AGENDA 
 
By general consent the Committee approved the agenda as presented. 
 
3. ADOPTION OF MINUTE /COORDINATION 
 
3.1 Minutes of Meeting - June 3, 2015 
 
The minutes of June 3, 2015 were amended to reflect the following changes: 
  Page 4 – add a “d” to the word accumulate 
Page 4 – LTC Budget Revisions section – add information to the description to 
indicate who the budget revision briefing was from 

 
Final – Financial Planning Committee – August 26, 2015
 
2 
Page 5 – Resolution FPC-2015-034 – add the words “for consideration” at the 
end. 
 
The minutes were adopted by general consensus as amended. 
 
10:10 Trustee Harris joined the meeting. 
 
3.2 Follow up Action List 
 
Director Shelest provided an update on each of the items on the FUAL. 
 
Director Shelest advised that the first quarter financial statements would normally 
be reviewed at this meeting.  She further advised that they are not being 
presented today due to staff resource in the Finance group that have been 
redirected to the Time and Leave implementation.  Completed second quarter 
financial statements will be presented at the October 21
st
 meeting. 
 
4. BUSINESS 
 
4.1 Briefing to Trust Council - Statement of Financial Information 
Review before going to Trust Council 
 
Director Shelest advised that the Statement of Financial Information reporting is 
done each year to meet the requirements of the Financial Information Regulation.   
 
FPC-2015-039 
  It was MOVED and SECONDED 
that the Financial Planning Committee forward the 2014/15 Statement of 
Financial Information trustee remuneration report to Trust Council for information. 
         CARRIED 
 
FPC-2015-040 
  It was MOVED and SECONDED 
that the 2014/15 Statement of Financial Information in its entirety be provided to 
the Financial Planning Committee when it is available. 
CARRIED 
 
4.2 Budget 2016/17 Planning 
 
4.2.1 Briefing to Trust Council - Budget Assumptions & Principles 
 
Director Shelest advised that th

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