Financial Planning Committee Meeting Minutes

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Final Financial Planning Committee Minutes October 30, 2013 
 
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Financial Planning Committee 
Minutes of Meeting 
 
Date: 
Location: 
Wednesday, October 30, 2013 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members Present Gary Steeves, Chair 
Peter Grove, Vice-Chair 
Paul Brent 
Sheila Malcolmson (by telephone) 
David Graham (by telephone) 
Ken Hancock 
Jeanine Dodds (by telephone) 
Susan Morrison 
Louise Decario (by telephone) 
 
Regrets Peter Luckham 
 
 
Staff Present Cindy Shelest, Director Administrative Services 
Nancy Roggers, Finance Officer 
Linda Adams, Chief Administrative Officer 
David Marlor, Director of Local Planning Services 
Lisa Gordon, Director of Trust Area Services 
 
1. CALL TO ORDER 
 
The meeting was called to order at 10:03 am 
 
2. APPROVAL OF AGENDA 
 
By general consent the Committee approved the agenda as presented. 
 
3. MINUTES / COORDINATION 
 
3.1. Minutes of Meeting - August 21, 2013 
 
Committee members requested minor changes to the minutes 
 
By general consent the minutes were adopted as amended. 
 

 
Final Financial Planning Committee Minutes October 30, 2013 
 
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3.2. Follow up Action List 
 
Director Shelest provided an update on the Follow Up Action List items. 
 
4. BUSINESS 
 
4.1. Strategic Plan Update 
 
Chief Administrative Officer Adams reviewed the briefing on the Strategic Plan 
Update and requested input from the Financial Planning Committee.  Committee 
members reviewed and discussed those activities assigned to them.   
 
Resolution FIN953/13  
It was MOVED and SECONDED, 
that the Financial Planning Committee request changes to item 6.2.1 to add the 
word "consider" and to  modify it to read "developing".  The item would read 
"consider developing model fees bylaw for consideration by LTCs" 
 
CARRIED 
Trustee Decario joined the meeting by phone at 10:43 am  
 
4.2. RFD 2nd Quarter Results 
 
Director Shelest reviewed the statement of net financial position.  Trustee Grove 
requested that comparable figures for fiscal year end March, 2012 be added to 
the statement of net financial position.  Director Shelest discussed the downturn 
in the bond market which has affected the investment income. She advised that 
investments have been transferred to other Municipal Finance Authority 
investment funds in order to realize more investment income during the second 
half of the year. 
 
Resolution FIN954/13  
It was MOVED and SECONDED, 
that the Financial Planning Committee forward the Request for Decision on the 
Second Quarter Financials to September 30, 2013 to Trust Council. 
 
CARRIED 
 
4.3. 2014 Proposed FPC Meetings Dates 
 
Director Shelest reviewed the proposed meeting dates for 2014 and requested 
that the October, 2014 and November, 2014 meeting dates be revised and 
pushed back to allow more time for the preparation of the second quarter 
financial statements, the forecast and the budget.  Committee members advised 

 
Final Financial Planning Committee 

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