Islands Trust Financial Planning Committee regular meeting, September 1, 2021

[0:00:00] Trustee Grove: live streaming. Thank you. It is now 10.35 and so I call this meeting to order. You have before

[0:00:06] Trustee Grove: you an agenda. Any ads or concerns about the agenda? There is

[0:00:15] Voice 4: a late item

[0:00:16] Trustee Grove: from Julia Mobs,

[0:00:19] Trustee Grove: I believe.

[0:00:21] Voice 2: Yes, so there were two items that were circulated to FPC via email. Both of them

[0:00:26] Voice 2: are related to items that are on the agenda and were simply missed as attachments. I offer my

[0:00:30] Voice 2: apologies for that. The first is related to the statement of financial information. It's a

[0:00:36] Voice 2: description of the types of services that vendors provide for us. Hopefully you received that last

[0:00:40] Voice 2: night. And just this morning, a little bit, maybe just half an hour ago, we circulated the cover

[0:00:47] Voice 2: briefing that's associated with the allocated financial statements and that provides some

[0:00:50] Voice 2: information on how those statements are put together. And while I have the floor, I'll just

[0:00:54] Voice 2: double check, Nancy, that we're able to get your screen sharing. Currently we just see a folder.

[0:01:01] Voice 4: Oh, it says I'm screen sharing here.

[0:01:09] Voice 4: There we go.

[0:01:12] Voice 4: Can you see it now?

[0:01:13] Voice 4: You bet.

[0:01:14] Voice 12: Okay.

[0:01:15] Voice 12: Sorry.

[0:01:17] Voice 4: And that's the audit committee agenda.

[0:01:18] Voice 12: We

[0:01:19] Voice 4: got audit committee.

[0:01:22] Voice 4: Oh, again, audit committee.

[0:01:27] Voice 4: Why is it doing that?

[0:01:28] Voice 4: Okay.

[0:01:29] Voice 4: Hang on.

[0:01:33] Voice 4: Oh, Lord.

[0:01:34] Voice 4: This

[0:01:36] Voice 12: is normal in every organization that I Zoom with, no matter the size or whatever.

[0:01:43] Voice 4: Never

[0:01:44] Voice 12: happens to me.

[0:01:46] Voice 4: Got it now? Do you have it now?

[0:01:49] Voice 4: Yes.

[0:01:50] Voice 4: Thank you.

[0:01:53] Trustee Grove: Thank you. Let us adopt the agenda, having noted Julia's comments earlier, but I don't think that changes the agenda.

[0:02:04] Trustee Grove: And by the way, I don't think I can see everybody, so if I'm not responding to a request from

[0:02:12] Trustee Grove: you to speak, please just yell out in a nice, polite way.

[0:02:17] Trustee Grove: And similarly, when we vote, I'm not certain that I can see everybody, so I may just be

[0:02:26] Trustee Grove: aware that your chair is, as usual, lacking somewhat, but I'll do my best.

[0:02:34] Trustee Grove: So let us turn to the meetings of the last meeting, the Financial Planning Committee

[0:02:38] Trustee Grove: Draft Minutes of February 17, 2021. Any adds, changes, deletes, or concerns? In that case,

[0:02:47] Trustee Grove: I will take them as read and adopted. Let us turn to the follow-up action list,

[0:02:59] Trustee Grove: pages 12 to 14. Julia Mobs, would you take us through that, please?

[0:03:04] Trustee Grove: sure

[0:03:06] Voice 2: thanks Mr. Chair so as usual I will only speak to the items listed as in progress so

[0:03:10] Voice 2: there's two of those item number two from the November meeting is analysis of the cost

[0:03:17] Voice 2: effectiveness of our satellite offices so those are the offices that are trustee offices on the

[0:03:22] Voice 2: islands so that work not really started yet at this point if the committee still wishes that

[0:03:29] Voice 2: staff undertake that analysis I will be doing that probably in time to align with the first

[0:03:34] Voice 2: draft of the budget that goes to trust council uh the second item that's noted as in progress

[0:03:39] Voice 2: is from the january meeting and that is a policy review of six point policy 6.5.1 which is the

[0:03:46] Voice 2: reserves and surplus policy um and it is my hope to have that on the next agenda so that we can

[0:03:51] Voice 2: also align that with the budget cycle thank

[0:03:57] Trustee Grove: you any comments questions or concerns from anyone

[0:04:00] Trustee Grove: one. Trustee Boushekin, is that you?

[0:04:03] Trustee Busheikin: Yes, that's me. Yes. Yes, thank you. I'd like to propose to

[0:04:09] Trustee Busheikin: add something to the follow-up action report. And it is an item that was, I think, on this list,

[0:04:15] Trustee Busheikin: or perhaps it was on the projects list at the beginning of term. And it's to just do a review

[0:04:22] Trustee Busheikin: of a paper from UBCM on trustee remuneration. UBCM published a paper with analysis and

[0:04:30] Trustee Busheikin: recommendations for best practices for trustee remuneration. And it was something Julia had

[0:04:37] Trustee Busheikin: started working on is just comparing our policies with their recommended best practices. And then

[0:04:44] Trustee Busheikin: it got put aside. And one of the things in that report is that the ideal time to do that is about

[0:04:49] Trustee Busheikin: about a year before an election, such that any recommended changes would be made to go into

[0:05:00] Trustee Busheikin: effect at the beginning of the next term, so that we remove to some degree, to a large degree,

[0:05:05] Trustee Busheikin: any sense of self-interest. And I think it's a really good time to look at this. We actually,

[0:05:11] Trustee Busheikin: as far as I know, haven't reviewed our remuneration policies other than looking at

[0:05:16] Trustee Busheikin: committee remuneration since I've been a trustee which is I think 11 years and it's actually

[0:05:22] Trustee Busheikin: recommended to do it every term and it's the reason I'm concerned about it or well there's

[0:05:27] Trustee Busheikin: many reasons and they're outlined in the report but I think it is very much an equity inclusion

[0:05:33] Trustee Busheikin: and representation issue and I think as we move forward for instance with reconciliation we're all

[0:05:40] Trustee Busheikin: learning that there are quite a wide variety of people on our island and it's really good when

[0:05:46] Trustee Busheikin: when they're represented or have a chance to be represented on council and the remuneration has

[0:05:52] Trustee Busheikin: to be in line. And at the same time, we don't want it so high that we change the tenor of what

[0:05:57] Trustee Busheikin: we're doing. And it becomes something that people do to gain a certain income. And the report talks

[0:06:04] Trustee Busheikin: about that. So the, the motion I would like to make, I think, yes, here it is. I put it in the

[0:06:13] Trustee Busheikin: the chat. So hopefully Robert can take it from there. It's that FPC directs staff to review

[0:06:22] Trustee Busheikin: trust counsel's policy 7.2.1 trustee remuneration against the recommendations in UBCM's council and

[0:06:29] Trustee Busheikin: remuneration guide to identify areas of potential improvement and that staff provide recommendations

[0:06:33] Trustee Busheikin: for policy changes to address those areas as needed. And just before I actually move that,

[0:06:39] Trustee Busheikin: i will just say that i have been in touch with that director mobs about this and this is something

[0:06:44] Trustee Busheikin: she thinks she can do and that uh makes sense thank

[0:06:47] Trustee Grove: you thank you for the motion is there a

[0:06:49] Trustee Grove: seconder to that trustee fast thank you um so do you wish to speak further to that uh laura no i

[0:06:59] Trustee Grove: spoke or trustee fast any comments concerns thoughts at this point at um paul brent hi

[0:07:10] Trustee Grove: Hi,

[0:07:10] Voice 12: my only thought is, why are we just looking at it

[0:07:13] Voice 12: in respect of UBCM's recommendations?

[0:07:17] Voice 12: Would it be possible to go beyond that?

[0:07:20] Voice 12: I mean, would that be a friendly amendment?

[0:07:24] Trustee Busheikin: I'm not, I think a review,

[0:07:28] Trustee Busheikin: this gives us a framework and puts it,

[0:07:31] Trustee Busheikin: I think it makes it a little more doable for staff.

[0:07:34] Trustee Busheikin: And the recommendation actually is that

[0:07:37] Trustee Busheikin: the proposed policy amendments come forward a year before

[0:07:40] Trustee Busheikin: the next election. So we're a little tight for time. And in fact, if you look at the report,

[0:07:46] Trustee Busheikin: which is actually quite interesting, I know we all have a lot of reports to read,

[0:07:51] Trustee Busheikin: it recommends different, it talks about how a review should be done and could be done. And

[0:07:58] Trustee Busheikin: there's various recommendations that maybe what you're thinking about is having an independent

[0:08:03] Trustee Busheikin: panel review it, looking at what other jurisdictions do, that kind of thing. So I think in a way,

[0:08:09] Trustee Busheikin: the report itself goes broader than what it sounds like um but if i mean if staff feel that it

[0:08:18] Trustee Busheikin: wouldn't make this suddenly way too big and too broad i'm i'm okay with a friendly amendment and

[0:08:25] Voice 12: i'm also okay with your explanation laura so thank you and uh

[0:08:29] Voice 12: sue ellen you have your hand up

[0:08:31] Trustee Grove: yes

[0:08:32] Voice 3: i'd just like to uh ask um staff ask the director whether this what impact this might

[0:08:39] Voice 3: might have on your work for the rest of in the coming year?

[0:08:49] Voice 2: So I appreciate that question very much.

[0:08:52] Voice 2: So workloads are high, but as Trustee Beshaken did mention,

[0:08:56] Voice 2: I actually started this exercise a couple of years ago,

[0:08:59] Voice 2: maybe a year and a half ago.

[0:09:00] Voice 2: So at least half of this exercise is already complete.

[0:09:04] Voice 2: I don't think it would be too onerous to take this on.

[0:09:09] Voice 2: certainly in advance of the next election we've got some time before then thank you thank you

[0:09:16] Trustee Grove: thank you um so i think we're probably ready to vote on this so all those in favor of this motion

[0:09:23] Trustee Grove: thank you any countries to anyone contrary i see none so that uh carries unanimously thank

[0:09:40] Trustee Grove: you very much for bringing that to our attention laura and julia for taking it on

[0:09:45] Trustee Grove: on. So anything else on the follow-up action list, pages 12 to 14? Thank you. So let us turn

[0:09:57] Trustee Grove: to pages 15 to 16, trust counsel business, your financial statements. So Julia, would you mind

[0:10:05] Trustee Grove: taking us through that, please?

[0:10:09] Voice 2: Sure. So the audit committee is responsible for working

[0:10:12] Voice 2: with the appointed auditors to oversee the annual audit and also to review the annual financial

[0:10:18] Voice 2: financial statements and any audit findings that come out of that work with the appointed

[0:10:22] Voice 2: auditors, which this year was KPMG. So the audit committee has just met in advance of

[0:10:27] Voice 2: financial planning committee today. They have reviewed the financial statements and the findings

[0:10:30] Voice 2: report. There are no concerns with the auditor's report. We've been issued a clean auditor's report

[0:10:36] Voice 2: once again this year. And that gives assurance that the financial statements are materially

[0:10:41] Voice 2: complete and accurate, which is always what we're aiming for. So audit committee has forwarded the

[0:10:47] Voice 2: financial statements to financial planning committee so they can send them on to trust

[0:10:51] Voice 2: council and normally we would hand out those items in paper if we were hanging out together

[0:10:56] Voice 2: in person of course in a hybrid world or remote world we've emailed those out so if you've had

[0:11:01] Voice 2: a chance to check your email you would have seen those land in your inbox just a few moments ago

[0:11:06] Voice 2: you might remember that in June at trust council council did review a draft version of the annual

[0:11:14] Voice 2: financial statements and staff took them through those. There have been two staff identified

[0:11:20] Voice 2: adjustments to those financial statements, some prior to the completion of the audit.

[0:11:24] Voice 2: That was to reclassify an amount of $745,000 from investments to cash and also to

[0:11:32] Voice 2: accrue salaries that were late and that's about $58,000. That's an expense item.

[0:11:38] Voice 2: So staff have provided some information around that and that can be forwarded to Trust Council

[0:11:43] Voice 2: Council with the financial statements at the will of the Committee.

[0:11:47] Voice 2: I think that's all I need to say.

[0:11:48] Voice 2: Audit Committee has performed their work

[0:11:50] Voice 2: and forwarded this on to Financial Planning Committee so they can forward it

[0:11:52] Voice 2: on to Council.

[0:11:54] Trustee Grove: And thank you, Julia, and congratulations yet again on yet another clean report.

[0:12:00] Trustee Grove: Any questions for Julia Mobbs?

[0:12:06] Trustee Grove: Hearing none, would someone very kindly like to make the motion you will see under

[0:12:10] Trustee Grove: 6.1?

[0:12:11] Voice 12: I move that the Financial Planning Committee receive the audited financial

[0:12:14] Voice 12: financial statements of the Honest Trust, including the statement of financial position,

[0:12:17] Voice 12: the statement of operations, statement of changes in net financial assets,

[0:12:20] Voice 12: and the statement of cash flows for the year ended March 31st, 2021,

[0:12:24] Voice 12: and forward them to Trust Council for approval.

[0:12:27] Trustee Grove: Thank you, Paul. Is there a seconder?

[0:12:32] Trustee Grove: Trustee Boucherkin is seconding it. Any further discussion on this matter?

[0:12:39] Voice 12: I would like to add that I do change it from and forwards them to and forward them.

[0:12:45] Voice 12: Good catch.

[0:12:51] Trustee Grove: Unbelievable. Nothing gets by you, Paul. So I'm going to call the vote. All those

[0:12:58] Trustee Grove: in favor? Thank you. Any contrary? That carries unanimously. Thank you so much. And again,

[0:13:08] Trustee Grove: Julia, thank you for all your work. So, Julia, please take us to the briefing on the allocated

[0:13:16] Trustee Grove: financial statements, which appear on pages 17 of your package.

[0:13:23] Voice 2: Yes, so the cover briefing for these allocated financial statements again was emailed out this morning.

[0:13:28] Voice 2: So if you'd like to follow along, you can pull that up.

[0:13:30] Voice 2: There's no new information provided this year with the allocated financial statements compared to what is provided in previous years.

[0:13:39] Voice 2: The methodology for putting these statements together remains the same,

[0:13:42] Voice 2: whereby we allocate direct revenues and expenses to local trust committees as appropriate and then

[0:13:49] Voice 2: allocate out indirect expenses based on net converted assessment value of the local trust

[0:13:54] Voice 2: areas and you will notice the final figure in the allocated financial statements the 44,000

[0:14:02] Voice 2: there does agree to the audited financial statement annual surplus and that's the way it

[0:14:06] Voice 2: should be every year it makes uh it lets us know that we've allocated out um 100 of our revenues

[0:14:12] Voice 2: and expenditures so it gives us some assurance that these statements are largely correct again

[0:14:17] Voice 2: these are statements that were requested by trustees these this is not a legislated requirement

[0:14:22] Voice 2: but it's helpful for trustees to assess how much they are their local trust areas contributing

[0:14:27] Voice 2: and drawing from the trust in any given year i will note that we continue to have

[0:14:32] Voice 2: have some challenges with staff time tracking. So our system has been down for a little while

[0:14:38] Voice 2: throughout the year for maintenance and bug fixes. And that has meant that staff have not

[0:14:43] Voice 2: been able to update their time in a timely basis. And so when that happens, oftentimes there are

[0:14:48] Voice 2: estimates of time spent on various things that are put into the system, which can have an impact

[0:14:52] Voice 2: on the accuracy of our allocations. But that's something that we experience every year. And so

[0:14:56] Voice 2: this is definitely an imperfect allocation. It's an approximation at best, but it's provided here

[0:15:02] Voice 2: at the will of um trustees as usual um can happily take questions otherwise it's been standard

[0:15:07] Voice 2: practice of financial planning committee to forward these on to council for their information

[0:15:15] Trustee Grove: any comments questions concerns or thoughts

[0:15:18] Trustee Grove: i'm

[0:15:24] Voice 3: going to move

[0:15:24] Voice 12: that financial planning committee forward the allocated statements

[0:15:30] Voice 12: financial statements on to trust council thank

[0:15:36] Trustee Grove: you is there a second trustee rogers is seconding it

[0:15:40] Trustee Grove: Any further discussion on this subject? Hearing none, all those in favour? Any contrary? I see

[0:15:52] Trustee Grove: none. That carries unanimously. Thank you. And thank you, Julia. Let us turn to 6.3,

[0:15:58] Trustee Grove: which is the Statement of Financial Information. A request for decision here, pages 18 to 27.

[0:16:05] Trustee Grove: Julia, over to you once again. Thank you.

[0:16:08] Voice 2: It seems today's agenda package is all about

[0:16:10] Voice 2: various forms of financial statements.

[0:16:14] Voice 2: So the statement of financial information,

[0:16:16] Voice 2: this is a legislated report that Islands Trust

[0:16:18] Voice 2: is required to put together and submit

[0:16:20] Voice 2: to the ministry each year.

[0:16:22] Voice 2: It is a supplementary financial information report

[0:16:25] Voice 2: that accompanies the audited financial statements.

[0:16:28] Voice 2: It is not an audited report,

[0:16:29] Voice 2: but it does accompany that package.

[0:16:33] Voice 2: So this is governed by the Financial Information Act.

[0:16:36] Voice 2: And so we put together this report based on the guidelines

[0:16:39] Voice 2: that are provided in that report and we will submit it to the ministry by September 30th,

[0:16:44] Voice 2: which is the legislative deadline. The report itself begins on page 20 of the agenda package.

[0:16:51] Voice 2: I do want to highlight for the committee a change that we've made this year associated with some of

[0:16:57] Voice 2: the charts. So the Financial Information Act requires that each of these tables that are

[0:17:03] Voice 2: provided are reconciled to the audited financial statements. It does provide options to either

[0:17:08] Voice 2: perform a numerical reconciliation to the audited financial statements or simply to provide a written

[0:17:13] Voice 2: explanation as to why the figures in this statement may not agree to what is seen in the

[0:17:18] Voice 2: audited financial statements. So historically we've taken the time to do a numerical reconciliation

[0:17:23] Voice 2: this year in acknowledgement of workloads and also that either option is perfectly acceptable.

[0:17:28] Voice 2: We've decided to provide a written explanation of why differences may be seen instead. So you'll see

[0:17:36] Voice 2: that for example on page 25 of the report there's a written reconciliation of employee remuneration

[0:17:42] Voice 2: and expenses to the financial statements and instead of numbers that reconcile the figures

[0:17:48] Voice 2: the two reports to one another we've simply provided an explanation as to why there might

[0:17:51] Voice 2: be differences so i did do a little bit of digging i looked at various local government

[0:17:56] Voice 2: sophie reports to see how everyone else was doing it and it's all over the map lots of people are

[0:18:01] Voice 2: or lots of organizations are using this option and it is perfectly acceptable under the financial

[0:18:06] Voice 2: information act so we've taken that approach this year just wanted to highlight that is the only

[0:18:11] Voice 2: difference from what you might be used to seeing on page 20 it's at the end of the sophie report

[0:18:21] Voice 2: so page 26 is where the list of schedule of payments to suppliers who've been paid more

[0:18:27] Voice 2: than $25,000 in the year is included. Emailed out last night was that list I mentioned previously

[0:18:34] Voice 2: that gives you some indication of what types of services we acquired from these various vendors.

[0:18:38] Voice 2: It's not part of the official report, but we provide it to trustees for information.

[0:18:43] Voice 2: So hopefully that was useful for you and your assessment. I think that's all I need to speak

[0:18:50] Voice 2: speak to at this point but i can take questions

[0:18:54] Trustee Grove: sorry um trustee fast yeah

[0:18:58] Voice 3: thank you a quick

[0:18:59] Voice 3: question um mostly for curiosity but i'm wondering what uh storage area network is it's under open

[0:19:07] Voice 3: open storage solutions i wondered what it meant uh

[0:19:13] Voice 2: yeah so that is um it's essentially it's a

[0:19:16] Voice 2: piece of technology um it's so it's it's our server basically i think is probably the easiest

[0:19:22] Voice 2: way to describe it.

[0:19:23] Voice 2: Thank you.

[0:19:24] Voice 2: That's great.

[0:19:25] Voice 3: That's great.

[0:19:25] Voice 3: Thank you.

[0:19:26] Voice 3: I get it.

[0:19:26] Voice 2: Thank you.

[0:19:28] Trustee Grove: Trustee Rogers.

[0:19:29] Trustee Rogers: Yes.

[0:19:30] Trustee Rogers: Good morning, everyone, from Keats Island, Lech Bynes.

[0:19:35] Trustee Rogers: I'll have some just one quick question.

[0:19:38] Trustee Rogers: I just wanted to make sure what you said, the page you emailed out last night that had

[0:19:45] Trustee Rogers: the explanation of these, will you include that in the report to Trust Council?

[0:19:50] Voice 2: Yes, we can include that to Trust Council.

[0:19:52] Voice 2: It is not included with the filing of the report

[0:19:55] Voice 2: to the ministry.

[0:19:56] Trustee Rogers: Could I ask that it be included?

[0:19:59] Trustee Rogers: Because certainly I had a number of questions

[0:20:01] Trustee Rogers: until your very helpful document came along

[0:20:04] Trustee Rogers: later that night as to what some of those were.

[0:20:09] Trustee Rogers: So thank you very much.

[0:20:10] Trustee Rogers: So I appreciate if you would do that.

[0:20:11] Trustee Rogers: I don't know that you need a motion to do that,

[0:20:13] Trustee Rogers: but if you could attach it to your report, I'd be.

[0:20:17] Trustee Grove: We can definitely do that.

[0:20:18] Trustee Grove: That

[0:20:18] Trustee Rogers: sounds like a good idea.

[0:20:22] Trustee Grove: Any other concerns?

[0:20:23] Trustee Grove: terms?

[0:20:26] Voice 12: I'm going to move that the 2021 Statement of Financial Information be forwarded to Trust

[0:20:31] Voice 12: Council for information as presented and amended.

[0:20:38] Trustee Grove: Thank you, Paul. Is there a seconder to that?

[0:20:41] Trustee Grove: Trustee Rogers, any further discussion or debate? All those in favor? Any contrary?

[0:20:52] Trustee Grove: I believe that carries unanimously. Thank you very much, Julia. Thank you. Let us turn to 6.4,

[0:21:01] Trustee Grove: which is the quarterly financial report and again a request for decision pages 28 to 34.

[0:21:07] Trustee Grove: Julia over to you please.

[0:21:10] Voice 2: Well I think this committee hears for me enough so I'm going to

[0:21:14] Voice 2: ask that Nancy present this one today.

[0:21:16] Trustee Grove: Thank you. Hi

[0:21:18] Voice 5: everybody so actually not much to say

[0:21:22] Voice 5: on the Q1 financial report at this time of the year we would expect to see that we're

[0:21:29] Voice 5: at you know tracking at about 25 percent of our revenues and expenditures and we're actually

[0:21:35] Voice 5: tracking at 24 so things look really good uh the revenues of course um at this time of year we have

[0:21:44] Voice 5: not um received the um provincial um property tax amount um but it did come in in july and so that

[0:21:56] Voice 5: will show up on the on the next statements um and projects are so the most most of the projects are

[0:22:06] Voice 5: tracking you know that they show they're showing below expenditure um or sorry below the percentage

[0:22:12] Voice 5: they normally would but um they are definitely you know on track to continue on through the year

[0:22:20] Voice 5: and expenditures to be seen further in the fiscal period.

[0:22:26] Voice 5: As you can see, the fees and sales are at 26%.

[0:22:29] Voice 5: And I think on last year's,

[0:22:32] Voice 5: we were actually below the 25% at this time of year.

[0:22:35] Voice 5: And, you know, there were some concerns

[0:22:37] Voice 5: about how our fees and sales were tracking.

[0:22:39] Voice 5: So things look good there.

[0:22:43] Voice 5: Yeah, so overall, it's looking really good.

[0:22:49] Trustee Grove: Thank you, Nancy.

[0:22:50] Trustee Grove: Anybody, any questions for Nancy?

[0:22:52] Trustee Grove: in

[0:22:57] Voice 12: that case with uh i'm going to move the financial planning committee forward the june

[0:23:01] Voice 12: 30th 2021 financial report to trust council for approval as presented thank

[0:23:08] Trustee Grove: you paul is there a

[0:23:08] Trustee Grove: seconder trustee bouchakin any further discussion debate concerns questions hearing none uh let us

[0:23:20] Trustee Grove: vote all those in favor any contrary so that um is unanimously in favor thank you so much

[0:23:33] Trustee Grove: Let us turn to page 6.5, or matter 6.5, the draft budget assumptions, pages 35 to 42.

[0:23:43] Trustee Grove: Julia, are you going to take this on?

[0:23:46] Trustee Grove: Yes, sir.

[0:23:47] Trustee Grove: And by the way, thank you, Nancy, for your review and report.

[0:23:51] Voice 5: You're welcome.

[0:23:55] Voice 2: All right.

[0:23:56] Voice 2: So we are stepping into budget time now.

[0:24:00] Voice 2: So I hope we're all as excited as I am for that.

[0:24:02] Voice 2: that. Today we aren't reviewing any draft budget numbers. We're simply looking at the assumptions

[0:24:07] Voice 2: and principles and timelines that will be used throughout the budget cycle. So the briefing is

[0:24:12] Voice 2: on page 35 of the agenda package. It notes there that the budget process policy says that Trust

[0:24:18] Voice 2: Council will review budget assumptions and principles in December. Our historical practice

[0:24:22] Voice 2: has been to send this to Council in September instead of December. It gives Council a chance to

[0:24:28] Voice 2: more proactively speak to some assumptions and principles they'd like to see in the drafts.

[0:24:33] Voice 2: So the fact that we deviate from that policy every year maybe says we should review that policy.

[0:24:38] Voice 2: I'll keep note of that. So we do have draft assumptions and policies in the agenda package

[0:24:44] Voice 2: today starting on page 36. I'll highlight for the committee some items that have changed from

[0:24:49] Voice 2: previous years and then I'll welcome some discussion around any of those. So item number

[0:24:55] Voice 2: one on the revenue side of things is fees and sales and this is an area that historically has

[0:24:59] Voice 2: been somewhat challenging to estimate even more so this year as council has approved recently the

[0:25:06] Voice 2: new model fees bylaw. Understanding how that may impact application fees on the ground at the local

[0:25:13] Voice 2: trust committee level is a little bit challenging as we don't yet have a sense of when or to what

[0:25:19] Voice 2: extent local trust committees might adopt this new fees bylaw in advance of a budget approval in March.

[0:25:25] Voice 2: So I've talked to the director of local planning services.

[0:25:27] Voice 2: We've come up with a bit of a draft formula, I guess,

[0:25:33] Voice 2: for estimating this figure.

[0:25:35] Voice 2: And my hope is that local trust committees

[0:25:38] Voice 2: will actually have this on their agendas very soon

[0:25:40] Voice 2: for discussion and we might get a better sense

[0:25:42] Voice 2: of where local trust committees will be landing

[0:25:43] Voice 2: as far as changing their fees.

[0:25:45] Voice 2: And that will help us come to a better place

[0:25:47] Voice 2: for estimating this figure.

[0:25:50] Voice 2: Item number two is around our provincial grant funding.

[0:25:53] Voice 2: We're not expecting to see increases or decreases

[0:25:56] Voice 2: is the next year's budget as far as that unrestricted funding level of $180,000 so that's

[0:26:00] Voice 2: remained estimated at previous levels. Item number three associated with provincial grant funding

[0:26:07] Voice 2: there is a lot of grant funding that's available out there right now I know that the trust is

[0:26:11] Voice 2: involved in applying for various sources of these funding and so we'll be including those amounts in

[0:26:15] Voice 2: the budget as they are approved and we become aware of them so at this point in time we're

[0:26:22] Voice 2: aware of some grants that are given to the conservancy that's for the conservation economic

[0:26:26] Voice 2: stimulus initiative under with habitat conservation trust foundation so we'll be

[0:26:33] Voice 2: including that in revenues with associated expenditures as usual there may be some changes

[0:26:38] Voice 2: to the healthy watersheds initiative grant fund I think I heard there may be some additional funding

[0:26:43] Voice 2: coming our way which will impact next year's budget if so that will be reflected in the same

[0:26:48] Voice 2: way with the revenues and offsetting expenditures reflected federal grant funding follows the same

[0:26:53] Voice 2: principles the only one we're aware of at this point is the species at risk grant with the

[0:26:58] Voice 2: conservancy again will include revenues and associated expenditures for that amount item

[0:27:05] Voice 2: number five for property taxes we always have property tax requisition each year we're expecting

[0:27:09] Voice 2: the same this year I have made a note that it's my assumption that we will have increased pressures

[0:27:14] Voice 2: on taxation in the coming budget cycle and that's a result of the policy reduction to surplus so

[0:27:22] Voice 2: we're holding less money in our surplus so we may not be able to draw on as much in the coming

[0:27:26] Voice 2: budget cycle in order to maintain that policy minimum. We also have anticipated increases in

[0:27:31] Voice 2: the operating budget which is standard every year and anticipated increases in project budgets just

[0:27:36] Voice 2: based on where we're seeing workloads and plans right now. No changes to how we're planning to

[0:27:43] Voice 2: account for non-market change I will use historical figures in the first draft of the budget until new

[0:27:49] Voice 2: information is released in December. I'm under the assumption that we'll once again be

[0:27:56] Voice 2: or the Salisbury Island Local Trust Committee will be seeking special property tax requisition

[0:28:02] Voice 2: for the ongoing work of SWPA. I don't yet have a resolution from the committee to that effect

[0:28:06] Voice 2: but in discussing and discussions with staff I understand we'll probably be seeing that come

[0:28:10] Voice 2: come through. No changes to the property tax or levy to Bowen Island. So we'll follow policy

[0:28:17] Voice 2: again this year. Our investment income, always a wild card when we're dealing with a pandemic and

[0:28:24] Voice 2: post-pandemic world. We are anticipating to see higher investment income next year than we did

[0:28:28] Voice 2: in the previous fiscal year. Things are starting to improve and so we'll account for that.

[0:28:35] Voice 2: On the expense side of things, inflation, we updated this last year to give a more accurate

[0:28:41] Voice 2: representation of what we actually do for inflation. So there's some organizations that

[0:28:46] Voice 2: take sort of last year's budget and increase everything by an inflation factor of 2%,

[0:28:50] Voice 2: for example. We don't follow that method at the trust. Instead, we will account for, you know,

[0:28:57] Voice 2: items that we know are sort of more vulnerable to inflation in the current year. And also when

[0:29:03] Voice 2: we're looking at actual estimates of what's required for future years, we'll often round

[0:29:08] Voice 2: them up as a bit of an inflation buffer. Staffing levels, we assume that management will be bringing

[0:29:14] Voice 2: forward new staffing requests as they were deemed necessary. So management team will be getting

[0:29:19] Voice 2: together to discuss that in coming weeks and if there are requests there will be funding requests

[0:29:24] Voice 2: coming forward for that. Staff salaries and benefits of course subject to the annual increases

[0:29:30] Voice 2: under the union agreements and public sector labour relations. No changes at this point to

[0:29:36] Voice 2: trustee remuneration policy, I guess we'll see where the new exercise lands upon review with

[0:29:42] Voice 2: UBCM's recommended practices. Office facilities, there is a new piece of information there to talk

[0:29:49] Voice 2: about the Gabriola office in particular. There is an opportunity for us to explore

[0:29:56] Voice 2: changing our real estate space as we move into a more remote workforce.

[0:30:00] Voice 2: at the trust and currently we're exploring the opportunity of sharing space with other

[0:30:05] Voice 2: provincial agencies in Nanaimo and perhaps having a smaller presence on Gabriola and so management

[0:30:10] Voice 2: team is undertaking that exercise as we speak and any results will be incorporated into the budget

[0:30:15] Voice 2: local planning services of course will be continue to be funded through the trust general budget and

[0:30:23] Voice 2: any significant projects over five thousand dollars will be looking for funding requests

[0:30:27] Voice 2: from local trust committees and I understand there's communication with the local trust

[0:30:31] Voice 2: committees that's happening right now around that requirement as I believe it's a bit of a

[0:30:34] Voice 2: change from previous years. I'll move on to item number 19, which is elections costs. So of course,

[0:30:41] Voice 2: next year is an election year. So we do have fairly significant costs associated with that

[0:30:46] Voice 2: historical election costs for $141,000. We'll plan for that again with an adjustment for inflation.

[0:30:55] Voice 2: Item number 20 talks to general surplus. We will see how things shake out with the budget

[0:31:01] Voice 2: budget balancing to see how much space we have in the general surplus funds to help with funding

[0:31:06] Voice 2: next year's budget. And we won't really have much information on that until we actually put the

[0:31:11] Voice 2: figures together. Item 23 simply speaks to the ongoing impacts of COVID-19 pandemic. And of

[0:31:18] Voice 2: course, we'll be incorporating those into the draft budget as much as we can as information

[0:31:22] Voice 2: is available. So on page 42 is the draft budget cycle timelines. There are definitely some crunch

[0:31:30] Voice 2: times within there. The time between October FPC meeting and November FPC meeting is only three

[0:31:36] Voice 2: weeks. So that's a very short window for staff to make changes and amendments to the budget

[0:31:42] Voice 2: and then prepare an agenda and circulate it again. But, you know, we make it work every year. We'll

[0:31:47] Voice 2: make it work again this year. And those timelines are there for your review and approval. And that's

[0:31:52] Voice 2: more than enough for me. I will take questions.

[0:31:55] Trustee Grove: Thank you, Julia. Any questions? Paul or Brent?

[0:32:02] Voice 12: Hi, Julie. Apologies if I kind of missed something here, but we're going to go back to number one, fees and sales.

[0:32:09] Voice 12: And it says estimated application fees by type and by local trust area, as determined by Trust Council's revised model bylaw approved in June 2021.

[0:32:18] Voice 12: Estimated fees will be based on the assumption that all LTCs will adopt local fees amounts at the maximum allowable 20% reduction from the model bylaw.

[0:32:31] Voice 12: to keep revenue estimates conservative. When we refer to maximum allowable 20% reduction,

[0:32:40] Voice 12: I'm unclear what that means other than what it says on the face of it.

[0:32:46] Voice 2: Oh, sure. So what I understand about the model fees bylaw and how LTCs will adopt and implement

[0:32:51] Voice 2: that is there is permission for local trust committees to adopt their fees at an amount

[0:33:00] Voice 2: out lower than what's in the model fees bylaw um to no more than 20 percent lower okay um and i'm

[0:33:07] Voice 2: looking for david marler to see if he's nodding along with me um yes he's nodding along with me

[0:33:11] Voice 2: okay so so that's what is meant by that okay so it's

[0:33:15] Voice 12: basically it's basically directive of trust

[0:33:18] Voice 12: council that we have to set our fees at a given level which is no less than 20 percent less than

[0:33:27] Voice 12: and what has been determined.

[0:33:30] Voice 12: Just, I need that clarified, thank you.

[0:33:33] Trustee Grove: You're welcome.

[0:33:36] Trustee Grove: Thank you, Russ, you have your hand up.

[0:33:39] Voice 6: Yes, thanks Mr. Chair.

[0:33:40] Voice 6: I think, and I'll apologize to Julia,

[0:33:43] Voice 6: this is just breaking news.

[0:33:45] Voice 6: Item three, provincial grant funding restricted.

[0:33:49] Voice 6: You know, this is primarily David's work,

[0:33:52] Voice 6: David and Mark, but there is an announcement today

[0:33:55] Voice 6: that the Allens Trust has been successful in receiving,

[0:33:58] Voice 6: I think, in the neighborhood of $367,000 or so associated with our development approvals

[0:34:09] Voice 6: process, so a process of renewal and streamlining development approval processes and so forth

[0:34:16] Voice 6: for constituents.

[0:34:17] Voice 6: It's a significant amount of money.

[0:34:18] Voice 6: It's over a two-year period, but I'd let David speak to it.

[0:34:22] Voice 6: He's the one who worked this plan and, of course, that would factor into some of your

[0:34:27] Voice 6: our budget assumptions at some point and it just broke today julia so that's why

[0:34:31] Voice 6: i just want to make sure that uh everyone understood that

[0:34:37] Voice 1: yeah sure we'd like to just speak through the chair please do

[0:34:40] Trustee Grove: yeah

[0:34:42] Voice 1: so yeah as russ said uh

[0:34:44] Voice 1: this was an application it came across our desk about six months ago as an opportunity from the

[0:34:51] Voice 1: provincial government looking to local governments that would like to improve their application

[0:34:57] Voice 1: service delivery. So we've this fit nicely with the local plan services renewal, as well as looking at our technology which is getting to the end of its life.

[0:35:08] Voice 1: So, with GIS, Mark van Bekel in the lead there.

[0:35:14] Voice 1: We put together a proposal that the executive committee endorsed and sent that in and as Russ said we were awarded the amount that we requested.

[0:35:25] Voice 1: It's a two year program and we're just going to sit down next week and figure out the timelines and then that will help us with any budget that might be coming up.

[0:35:38] Voice 1: It is 100% covering the work, so it's not matching.

[0:35:44] Voice 1: However, the suppliers with half the funding now, and then the remainder on completion.

[0:35:51] Voice 1: So we'll have to cover half the cost and then recover that at the end.

[0:35:57] Voice 1: So we'll be working that out and advising Julia.

[0:36:00] Voice 1: So you'll be hearing about it in future FPC meetings.

[0:36:03] Voice 6: And I would simply add, Mr. Chair, that it's under a housing and economic recovery funding mechanism.

[0:36:13] Voice 6: Our uses are narrower and our application was narrower.

[0:36:16] Voice 6: and we'll certainly, as this matures, we'll provide that to everybody.

[0:36:21] Voice 6: You all froze on me. Can anyone hear me still?

[0:36:23] Trustee Grove: Yeah.

[0:36:24] Voice 6: Okay. And just on a more global level, I'll just point out in the last 18 months,

[0:36:29] Voice 6: this is by far the largest amount of funds that the Allens Trust has received from granting agencies,

[0:36:36] Voice 6: both from federally and provincially.

[0:36:38] Voice 6: So it is a pleasant moment to reflect on. Thanks.

[0:36:44] Trustee Grove: That's very good news.

[0:36:45] Trustee Grove: is will we be putting out a press statement?

[0:36:51] Voice 6: Yes, we are going to need to do that

[0:36:54] Voice 6: both to rejoice in the moment

[0:36:56] Voice 6: and make sure that expectations match

[0:37:01] Voice 6: the potential outcomes of the funding.

[0:37:04] Trustee Grove: That's very good news.

[0:37:05] Trustee Grove: And David, thank you for your work in that regard.

[0:37:08] Trustee Grove: Any questions or comments on that subject?

[0:37:13] Trustee Grove: Thank you, any other-

[0:37:15] Trustee Grove: I

[0:37:15] Voice 3: see Peter Luckum's hand.

[0:37:16] Voice 3: Chair Luckum's hand is up.

[0:37:18] Trustee Grove: Thank you, I see it up too.

[0:37:21] Trustee Grove: Go ahead, Peter.

[0:37:21] Trustee Luckham: Oh, so you saw it up, but you were just ignoring me.

[0:37:24] Trustee Luckham: Okay.

[0:37:25] Trustee Luckham: So actually, I want to go back to the previous assumption there, which was either one or

[0:37:30] Trustee Luckham: two with respect to the 20% reduction.

[0:37:36] Trustee Luckham: And this is just my sort of approach to this, is that this, you know, this assumptions and

[0:37:46] Trustee Luckham: and principles document, I think is really important.

[0:37:51] Trustee Luckham: And you've heard me say before that I really appreciate

[0:37:54] Trustee Luckham: that what we're saying is these are our principles

[0:37:57] Trustee Luckham: and this is the assumptions that we're making

[0:38:00] Trustee Luckham: in advancing a budget.

[0:38:02] Trustee Luckham: And quite honestly, and I totally respect

[0:38:06] Trustee Luckham: that Julia wants to be conservative

[0:38:09] Trustee Luckham: in her estimates on revenue,

[0:38:12] Trustee Luckham: but I can't help but think that all of the work

[0:38:15] Trustee Luckham: that has gone into reviewing the fees and the strong messaging about increasing the revenues

[0:38:21] Trustee Luckham: associated with the land use function of the Islands Trust is incredibly important and

[0:38:28] Trustee Luckham: supported by many. And I just struggle with the notion that we would, as a principle or an

[0:38:35] Trustee Luckham: assumption, assume that LTCs would discount the citizens a full 20% across the board.

[0:38:42] Trustee Luckham: And so to me, it sends a message about, oh, we weren't really serious about wanting to raise the fees. And so I guess that's a thought. I would sooner make the assumption that LTCs were going to embrace this fully and support a more wholesome revenue stream.

[0:39:02] Trustee Luckham: And at the end of the day, if it turns out that that assumption was incorrect, then when we report on it that fees were lower than anticipated because LTCs did not adopt the new fee structure, that's a different message than we were on budget.

[0:39:21] Trustee Luckham: So just wonder whether or not we might consider changing that.

[0:39:25] Trustee Luckham: And I'll leave that for the

[0:39:26] Trustee Grove: product.

[0:39:27] Trustee Grove: Thank you, Peter.

[0:39:29] Trustee Grove: Good point.

[0:39:30] Trustee Grove: Russ Hotson-Pillar.

[0:39:31] Trustee Grove: I'll

[0:39:36] Voice 6: wait till the trustees have commented. Mine are slightly different matters on the budget assumptions.

[0:39:45] Trustee Grove: Any follow up on to Peter Luckham's comments? Sue Ellen first, and then Trustee Rogers.

[0:39:56] Voice 3: Just that I agree with the chair, and I think, or with Peter Luckham, and I think that the assumption should be that everybody's going to adopt it, because that's what Trust Council passed. Thank you.

[0:40:12] Trustee Grove: Thank you so much. Dan?

[0:40:16] Trustee Rogers: I'm actually going to say I'm going to embrace my inner conservative, which is maybe unrecognizable to most of you,

[0:40:25] Trustee Rogers: and say that I think that the assumption by Julia, the director, is probably an appropriate one.

[0:40:33] Trustee Rogers: Because frankly, I'd rather say we were sort of on budget rather than that we were under budget,

[0:40:41] Trustee Rogers: it which uh i have some i know of at least one local trust committee that i work with that i

[0:40:49] Trustee Rogers: think will probably have some hesitation about the full amount and and so i think there i think

[0:40:54] Trustee Rogers: it makes some sense to do what is being proposed my own self so thank

[0:41:00] Trustee Grove: you laura bushekin thank you

[0:41:03] Trustee Busheikin: i'm gonna embrace my inner conservative tiny though it is um uh i and you know as as chair

[0:41:12] Trustee Busheikin: of regional planning committee that worked so hard on this for the last two years that

[0:41:16] Trustee Busheikin: you know the 20 plus or minus it is part of the policy that trust adopted so the assumption if

[0:41:26] Trustee Busheikin: it is followed um is not it doesn't suggest that anyone would not do what was adopted by council

[0:41:33] Trustee Busheikin: council adopted a policy that supported a range um of 20 on either end so but i do think that the

[0:41:41] Trustee Busheikin: the purpose of this document is to help create a solid budget that we can stick to at the end

[0:41:50] Trustee Busheikin: of the day and not to be overestimating things. And I think that the discussion we're having

[0:41:58] Trustee Busheikin: about this is more of a political discussion, more of a, it's a policy discussion about what

[0:42:04] Trustee Busheikin: is the best policy for finances but the budget assumptions are the attempt is to be objective

[0:42:11] Trustee Busheikin: and factual and and careful uh and i think in that case i um april 1st 2022 isn't that far away and

[0:42:23] Trustee Busheikin: um some some ltcs may not even get to that some ltcs have a real backlog of work on their plate

[0:42:30] Trustee Busheikin: that they might want to get through first

[0:42:32] Trustee Busheikin: and different LTCs have different situations,

[0:42:36] Trustee Busheikin: which is why we put that 20% possibility in there.

[0:42:39] Trustee Busheikin: But I think the main thing is that this document

[0:42:41] Trustee Busheikin: isn't about sending a recommendation

[0:42:46] Trustee Busheikin: to LTCs about how to vote.

[0:42:49] Trustee Busheikin: It is about trying to be objective

[0:42:53] Trustee Busheikin: and make predictions about the budget

[0:42:55] Trustee Busheikin: so we can budget accurately.

[0:42:58] Trustee Grove: Thank you, Laura.

[0:42:58] Trustee Grove: Laura, Laura Patrick, and then Russ.

[0:43:02] Voice 13: I don't have to embrace my inner, I can't even say the word right now.

[0:43:09] Voice 13: I did an analysis based on like Salt Springs budgets, and we're already exceed or match some of the numbers that are in there.

[0:43:17] Voice 13: So it's not going to be necessarily an overwhelming number.

[0:43:24] Trustee Grove: Thank you.

[0:43:25] Voice 6: Russ Watson-Piller.

[0:43:27] Voice 6: Thanks very much.

[0:43:28] Voice 6: so two things uh um just as in my position i just want to provide some foreshadowing for committee

[0:43:35] Voice 6: as they as they make their assumptions one under significant unusual circumstances item 23. um we

[0:43:42] Voice 6: do have a december trust council meeting covet allowing that's to be a live meeting um you know

[0:43:48] Voice 6: that we're we have the confluence of both um provincial regulation um uh bill 10 allowing

[0:43:57] Voice 6: allowing electronic meetings and how the islands trust is going to present its version of that to the world. We haven't got technological certainty there.

[0:44:09] Voice 6: So we'll be looking, I think, with more uncertainty to the coming year in terms of having some live meetings, there might be live meetings, so I would bake that into my thinking around the unusual circumstances, compared to last year, where we had no live trust Council meetings.

[0:44:22] Voice 6: The other is

[0:44:25] Voice 6: quite often over the years.

[0:44:27] Voice 6: Um, um, we've talked about, uh, uh, staffing levels 12, and then, uh, uh, we, we put this,

[0:44:35] Voice 6: um, um, uh, piece of, uh, some sentences here together that provide room for anything

[0:44:41] Voice 6: that might be coming up.

[0:44:43] Voice 6: And, uh, just from my perspective right now, you know, that if, um, we go to fully, um,

[0:44:51] Voice 6: interactive zoom meetings, there would be a request for another FTE.

[0:44:54] Voice 6: and that that would probably be coming if that process is the chosen process to the next budget

[0:45:03] Voice 6: cycle as opposed to this year so that's one maybe that might come forward to fpc and trust council

[0:45:11] Voice 6: and the other is i just have to tell you over the last number of years any staff positions or work

[0:45:16] Voice 6: we've undertaken grants and other things additions to staff have generally been content providers

[0:45:22] Voice 6: and that's you know primary primary level uh public facing um people who function in the

[0:45:29] Voice 6: organization um the uh senior intergovernmental policy analysis uh work um the water work um some

[0:45:37] Voice 6: assistance with planning but we have not um had the same that comes with administrative cost

[0:45:44] Voice 6: and there may be it might be time for trust council to reflect on if there are increases

[0:45:51] Voice 6: in staffing where they should be and quite likely coming from the administration at least any of

[0:45:58] Voice 6: those requests will have a strong administrative focus as we move forward but time will tell but

[0:46:02] Voice 6: i just want to make room for the idea that it's time to at least consider the administrative side

[0:46:07] Voice 6: of this organization as opposed to the content providers thanks mr chair thank

[0:46:14] Trustee Grove: you russ any

[0:46:18] Trustee Grove: other concerns we are not being asked to make any formal decisions about this but are there

[0:46:25] Trustee Grove: any motions that anybody would like to make based upon what we've been discussing hearing none let

[0:46:34] Trustee Grove: us move to 6.5 which is the draft budget assumptions principles and timelines of briefing

[0:46:40] Trustee Grove: and I beg your pardon sorry let us turn to 6.6 the budget consultation plan and on page 43

[0:46:48] Trustee Grove: there is a draft motion for your interest so Julia on to you

[0:46:58] Voice 2: Director Frater will actually

[0:47:00] Voice 2: be taking this one today. Thank

[0:47:02] Trustee Grove: you Director Frieda. Hi Claire.

[0:47:10] Voice 8: Good morning and good morning to the

[0:47:12] Voice 8: committee. So I'm pleased to bring this annual request for decision to you and this is concerning

[0:47:20] Voice 8: your annual budget engagement, formerly called budget consultation process, that we are looking

[0:47:27] Voice 8: to get going again this year. We are bringing it to you at this time to get general conversation

[0:47:32] Voice 8: and direction around what your desires are for the program this fiscal year, and to get endorsement

[0:47:38] Voice 8: of our project charter. You'll note in the project charter that some of the dates are incomplete

[0:47:43] Voice 8: because we haven't yet set meeting dates for next year, but we would fill those in after your

[0:47:47] Voice 8: approval as needed. So as it says in the purpose, we're looking for you to generally endorse the

[0:47:53] Voice 8: direction that we're proposing, which is essentially a status quo direction, doing much as we've done

[0:47:57] Voice 8: in previous years but also to seek your direction around any changes you might like and any

[0:48:03] Voice 8: particular desires around the engagement materials or methods. So assuming you've read the briefing

[0:48:08] Voice 8: perhaps I'll turn it back to the chair for any questions.

[0:48:13] Trustee Grove: Thank you. Any questions or comments?

[0:48:15] Trustee Grove: Laura Bushekin.

[0:48:17] Trustee Busheikin: Thank you. I see in scope as an information webinar and I don't remember

[0:48:22] Trustee Busheikin: did this happen last year as well?

[0:48:25] Voice 8: I know certainly that is a new proposal for this year

[0:48:28] Voice 8: that we that's something we'd like actually thank you for mentioning that I did mention

[0:48:31] Voice 8: to highlight that that is something we've put forward as a possibility that we could do a

[0:48:35] Voice 8: webinar about the budget thank you and we would love to you to tell us if you think that's a good

[0:48:40] Voice 8: idea or not thank

[0:48:43] Trustee Grove: you Sue Anna thank

[0:48:45] Voice 3: you chair I'm um uh I may have missed it but I didn't see

[0:48:50] Voice 3: anything about the uh tax insert uh that you did last year and I'm wondering if you consider that

[0:48:57] Voice 3: as part of the um budget consultation or will that be factored in some way um

[0:49:03] Voice 8: i'm seeing that

[0:49:04] Voice 8: as a separate um communications product that happens like after approval of the budget so

[0:49:08] Voice 8: it would be separate and distinct from this initiative okay and did you

[0:49:11] Voice 3: have any um response

[0:49:13] Voice 3: to the tax insert because we didn't have it on bowen as you know and that's the one i would have

[0:49:17] Voice 3: heard about um

[0:49:19] Voice 8: we i received you know anecdotal feedback from people who had received it saying

[0:49:23] Voice 8: they liked the information I noticed I know that the Conservancy received an uptick in inquiries

[0:49:28] Voice 8: following that in the weeks following the notice particularly around NAPTEP and other options

[0:49:32] Voice 8: and I know they've had a busy year so it's hard to you know know exactly what caused what

[0:49:36] Voice 8: but certainly we did note there that there was that was the only place we

[0:49:40] Voice 8: we definitely noticed that it had an impact. Thank you very much.

[0:49:51] Trustee Grove: Any other comments or

[0:49:52] Trustee Grove: concerns or questions?

[0:49:56] Voice 12: I'm going to move that the Financial Planning Committee approve the 2022-23

[0:49:59] Voice 12: budget public engagement project charter dated august 26 2021 thank

[0:50:05] Trustee Grove: you paul is there a seconder

[0:50:07] Trustee Grove: trustee rogers is seconding that together with some others any further discussion can i just

[0:50:15] Trustee Rogers: can i just say that the numbers are stunning um just the increase in the way and thank you for

[0:50:22] Trustee Rogers: all the work that's evolved over the last number of years in terms of getting i mean it's still

[0:50:28] Trustee Rogers: only 1 25th of our population or whatever it is of our population but it's substantially

[0:50:36] Trustee Rogers: better to have 900 plus people than it is to have 78 so that's a thank you so excited so this is

[0:50:44] Trustee Rogers: hopefully a continuing success story thank

[0:50:47] Trustee Grove: you for bringing that to our attention uh dan um

[0:50:51] Trustee Grove: Laura Bushekin? No. Thank you. In that case, we have a motion that's been made and seconded.

[0:51:01] Trustee Grove: All those in favor? Anyone contrary? Thank you. That carries unanimously.

[0:51:16] Trustee Grove: Let us turn to 7.1, the top priorities for approval by FPC, pages 47 to 48. Julia,

[0:51:30] Trustee Grove: I think that definitely falls under your umbrella.

[0:51:35] Voice 2: Yes, sir.

[0:51:36] Voice 2: So past practice for the top priorities report with this committee has simply been for staff

[0:51:41] Voice 2: to present a new top priorities report and then the committee approves it.

[0:51:47] Voice 2: So I've come to understand that I've been doing that incorrectly and the correct way

[0:51:52] Voice 2: to do it is to provide the top priorities report as it stands currently and provide

[0:51:56] Voice 2: an opportunity for the committee to add or remove things from that report.

[0:52:00] Voice 2: So that's what you see on page 47.

[0:52:02] Voice 2: This was the previously approved top priorities report.

[0:52:04] Voice 2: Page 48 is the staff recommended additions to that report

[0:52:09] Voice 2: or changes to that report.

[0:52:10] Voice 2: The committee can approve it as presented

[0:52:12] Voice 2: or make changes to that at their will.

[0:52:15] Voice 2: And then that will be forwarded to Trust Council

[0:52:17] Voice 2: for their next meeting.

[0:52:21] Voice 12: I'm going to move that the Financial Planning Committee

[0:52:24] Voice 12: approve the recommended changes to the top priorities report

[0:52:29] Voice 12: as shown on the agenda package.

[0:52:34] Trustee Grove: And presumably forward it to Trust Council.

[0:52:36] Trustee Grove: Council.

[0:52:36] Trustee Grove: Yes.

[0:52:37] Trustee Grove: And forward it to trust council.

[0:52:38] Trustee Grove: Thank you, Peter.

[0:52:39] Trustee Grove: Thank you.

[0:52:40] Trustee Grove: Thank you, Paul.

[0:52:40] Trustee Grove: Is there a seconder?

[0:52:43] Trustee Grove: I think there's two fingers in the air.

[0:52:45] Trustee Grove: Does that mean you trust me, Rogers?

[0:52:47] Trustee Grove: Yes.

[0:52:48] Trustee Grove: I thought it was a V for victory.

[0:52:53] Trustee Grove: Thank you.

[0:52:54] Trustee Grove: Any further discussion on this subject?

[0:52:57] Trustee Grove: All those in favor?

[0:53:03] Trustee Grove: Anyone contrary?

[0:53:05] Trustee Grove: That carries unanimously.

[0:53:06] Trustee Grove: Thank you so much.

[0:53:07] Trustee Grove: I'm getting used to this unanimous positive voting and long may it last.

[0:53:15] Trustee Grove: Pages 49 to 52 are asking for your consideration with regard to the text for inclusion in the

[0:53:22] Trustee Grove: 2020-21 annual report for submission to the Minister of Municipal Affairs. Julia, over to you.

[0:53:30] Voice 2: All right. So normally the FPC annual report section comes to the committee at their May

[0:53:36] Voice 2: meeting. Of course, the May meeting was cancelled this year and so the Financial Planning Committee

[0:53:41] Voice 2: didn't have the opportunity to review their section in advance of Trust Council. So Trust

[0:53:45] Voice 2: Council has actually already reviewed this section and provided their approval at their meeting in

[0:53:49] Voice 2: June. We decided it still made some sense to bring it forward to Financial Planning Committee to make

[0:53:54] Voice 2: sure there weren't any significant concerns here before we slot it into the annual report and

[0:53:59] Voice 2: submit that to the Minister. So you would have seen us already at Council. It's here again for

[0:54:05] Voice 2: for official approval.

[0:54:06] Voice 2: And if there's any changes, we welcome them.

[0:54:09] Trustee Grove: Thank you, Julia.

[0:54:10] Trustee Grove: And Dan Rogers, you have your hand up.

[0:54:13] Trustee Rogers: I just want to confirm something on page 51.

[0:54:18] Trustee Rogers: I assume trustee Rockefeller is a member

[0:54:21] Trustee Rogers: of the audit committee

[0:54:23] Trustee Rogers: because there's not a star beside her name.

[0:54:26] Trustee Rogers: And if she is, as I know her to be a star

[0:54:29] Trustee Rogers: in all circumstances,

[0:54:30] Trustee Rogers: I think there should be a star beside her.

[0:54:32] Voice 2: Thank you for that catch.

[0:54:34] Voice 2: We'll make that addition.

[0:54:34] Voice 2: well

[0:54:35] Trustee Grove: spotted thank you dan uh

[0:54:39] Voice 12: trustee paul brent i just have one comment is i'm kind of

[0:54:43] Voice 12: disappointed that we didn't put in there the fact of having reduced the surplus amount to 20 from

[0:54:50] Voice 12: 25 but i think it's water under the bridge as far as this has been already approved that's my comment

[0:54:58] Voice 12: thanks thank you does

[0:55:00] Trustee Grove: anyone have any comments to trustee paul brent's comments if i may

[0:55:06] Voice 2: I

[0:55:07] Trustee Grove: believe

[0:55:08] Voice 2: that policy change actually happened after year-end and so it would be captured in

[0:55:13] Voice 2: next year's annual report.

[0:55:15] Trustee Grove: Thank you. Good point. Good point. Nothing gets past you, Julia.

[0:55:24] Trustee Grove: So can we have a motion? Maybe, Paul, you'd like to make a motion?

[0:55:29] Voice 12: Sure. I'm going to move that the Financial Planning Committee approve the attached

[0:55:34] Voice 12: text for inclusion in the 2021 annual report for submission to the minister of municipal affairs

[0:55:41] Voice 12: and

[0:55:42] Trustee Grove: is there a seconder chair luckham's hands is in the air is that your yellow hand up there

[0:55:48] Trustee Grove: peter yeah so he's seconding it um any discussion or debate hearing none all those in favor

[0:55:57] Trustee Grove: anyone contrary so our record is unblemished that carries thank you that's

[0:56:08] Trustee Grove: remarkable um and uh it's remarkable in that everyone's been so cooperative and helpful

[0:56:14] Trustee Grove: and mainly because of the preparation by julia and staff thank you um are any new business

[0:56:25] Trustee Grove: so our next meeting is scheduled for wednesday october the 20th

[0:56:31] Trustee Grove: and uh before closing i do want to say once again to thank you to julia nancy and claire

[0:56:37] Trustee Grove: and i also want to thank the vice chair paul for his support and for being so cleverly in getting

[0:56:44] Trustee Grove: all those motions up on the board um but i actually do appreciate it very much so that

[0:56:50] Trustee Grove: being said would someone like to suggest we end this meeting i move adjournment

[0:56:55] Trustee Grove: wow and i think

[0:56:57] Trustee Grove: that's unanimous. And it's been a pleasure. You guys take care, enjoy the little bit of

[0:57:04] Trustee Grove: sunshine we've got, and we'll see you all very soon. Good job, Chair. Thank you.

[0:57:09] Trustee Grove: Thank you. Thank you, Robert.

ADOPTED 
 
Financial Planning Committee 
Minutes of a Regular Meeting 
September 1, 2021 ADOPTED Page 1 of 5 
 
Financial Planning Committee 
Minutes of Regular Meeting 
 
Date of Meeting: 
Location: 
September 1, 2021 
Electronic Meeting 
  
Members Present:  Peter Grove, Chair  
Paul Brent, Vice Chair 
Laura Busheikin, Regional Planning Committee Representative 
Sue Ellen Fast, Executive Committee Representative 
Peter Luckham, Executive Committee Representative 
Tim Peterson, Trust Programs Committee Alternate Representative 
Laura Patrick, Executive Committee Representative 
Tahirih Rockafella, Local Trustee 
Dan Rogers, Executive Committee Representative 
Kate-Louise Stamford, Islands Trust Conservancy Board Representative 
  
Staff Present: Russ Hotsenpiller, Chief Administrative Officer 
Julia Mobbs, Director, Administrative Services 
David Marlor, Director, Local Planning Services 
Clare Frater, Director, Trust Area Services 
Nancy Roggers, Finance Officer 
Robert Barlow, Legislative Services Clerk/Recorder 
  
1. CALL TO ORDER 
 
The meeting was called to order at 10:34 a.m. Chair Grove offered gratitude for being able to 
work and meet on the traditional and treaty territories of the Coast Salish First Nations. 
 
2. APPROVAL OF AGENDA 
 
2.1 New Items and Re-ordering of the Agenda 
 
The following material was presented for consideration: 
 Item 6.1, Islands Trust March 31, 2021 Audited Financial Statements and the 
Financial Statement Comparison – draft versus final (sent from the Audit Committee 
meeting of September 1, 2021) 
 Item 6.2,  Allocated Financial Statements Briefing (missing in original agenda) 
 Item 6.3, a list of services acquired from each of the vendors listed in the SOFI 
report with billings greater than $25,000 (missing in original agenda) 
 
2.2 Approval of Agenda 
 
By general consent the Committee approved the agenda as amended. 

 ADOPTED 
 
Financial Planning Committee 
Minutes of a Regular Meeting 
September 1, 2021 ADOPTED Page 2 of 5 
 
3. ADOPTION OF MINUTES / COORDINATION 
 
3.1 Minutes of Meetings 
 
3.1.1 Financial Planning Committee Draft Minutes of February 17, 2021 
 
By general consent the Committee approved the minutes as presented. 
 
3.2 Resolutions Without Meeting 
 
None. 
 
3.3 Follow up Action List 
 
Director Mobbs provided a status update to all items that are currently in progress: 
 work has not started yet in regards to an analysis of the cost effectiveness of the 
satellite offices; 
 the review of Trust Council Policy 6.5.1 Reserves and Surplus is likely to be available 
at the next Committee meeting. 
 
FPC-2021-021 
It was MOVED and SECONDED, 
that Financial Planning Committee direct staff to review Trust Council Policy 
7.2.1 Trustee Remuneration against the recommendations in ‘UBCM’s Council 
and Remuneration Guide’ to identify areas of potential improvement, and that 
staff provide recommendations for policy changes to address these areas, as 
needed. 
CARRIED 
 
4.  TOWN HALL 
 
 None. 
 
5. DELEGATIONS 
  
None. 
 
6. TRUST COUNCIL BUSINESS 
 
6.1 March 31, 2021 Audited Financial Statements - RFD 
 
Director Mobbs presented the RFD, indicating that the Audit Committee has reviewed 
the Financial Statements and the Audit Findings Report and has no concerns.  The KPMG 
Audit Findings Report noted no concerns as well.  The Audited Financial Statements 
were provided to the Financial Planning Committee from the Audit Committee. 
 

 ADOPTED 
 
Financial Planning Committee 
Minutes of a Regular Meeting 
September 1, 2021 ADOPTED Page 3 of 5 
FPC-2021-022 
It was MOVED and SECONDED, 
that Financial Planning Committee receive the audited financial statements of 
the Islands Trust including the Statement of Financial Position, the Statement of 
Operations, the Statement of Changes in Net Financial Assets, and the 
Statement of Cash Flows for the year ended March 31, 2021, and forward them 
to Trust Council for approval. 
CARRIED 
 
6.2 March 31, 2021 Allocated Financial Statements - Briefing 
 
Director Mobbs indicated that there is no new information provided this year compared 
to what has been provided in previous years as the methodology in preparing the 
statements remains the same. She also noted that there continues to be some 
challenges with staff time tracking software resulting in staff being unable to update 
their time allocation and therefore estimates have been utilized. 
 
FPC-2021-023 
It was MOVED and SECONDED, 
that Financial Planning Committee forward the allocated financial statements to 
Trust Council. 
CARRIED 
 
6.3 2020/21 Statement of Financial Information (SOFI) - RFD 
 
Director Mobbs indicated that the annual SOFI report is a legislated report to be 
provided to the Ministry and that accompanies the Audited Financial Statements.  She 
also noted that the list of services acquired from each of the vendors listed in the SOFI 
report with billings greater than $25,000, which was provided as a late item to the 
agenda, is not part of the official SOFI report but provided to the Committee for 
information. 
 
FPC-2021-024 
It was MOVED and SECONDED, 
that Financial Planning Committee approve the 2020/21 Statement of Financial 
Information and forward it to Trust Council for information as presented. 
CARRIED 
 
6.4 June 30, 2021 Quarterly Financial Report - RFD 
 
FPC-2021-025 
It was MOVED and SECONDED, 
that Financial Planning Committee forward the June 30, 2021 Financial Report 
to Trust Council for approval as presented. 
CARRIED 
 
6.5 2022/23 Draft Budget Assumptions, Principles, and Timelines - Briefing 

 ADOPTED 
 
Financial Planning Committee 
Minutes of a Regular Meeting 
September 1, 2021 ADOPTED Page 4 of 5 
 
Director Mobbs presented highlights of the briefing, indicating that the purpose is to 
discuss and develop the assumptions and principles upon which the next fiscal year’s 
budget will be based.  She noted that Trust Policy 6.3.1 Budget Process states that 
Budget Principles and Assumptions are reviewed by Trust Council in December whereas 
the historical practice has been that they are presented to Trust Council in September to 
provide more time for Trust Council to consider them. 
 
6.6 2022/23 Budget Public Engagement Process - RFD 
 
Director Frater introduced the RFD, indicating that this is an annual request for the 
Committee to endorse the public engagement process project charter. 
 
FPC-2021-026 
It was MOVED and SECONDED, 
that Financial Planning Committee approve the 2022/23 Budget Public 
Engagement project charter, dated August 26, 2021.  
CARRIED 
 
7. BUSINESS 
 
7.1 Work Program 
 
Director Mobbs presented a draft Top Priorities of the Work Program for approval. 
 
FPC-2021-027 
It was MOVED and SECONDED, 
that Financial Planning Committee approve the recommended changes to the 
Top Priorities report as in the agenda package and forward to Trust Council. 
CARRIED 
 
7.2 FPC 2020-21 Annual Report Section - RFD 
 
Director Mobbs indicated that normally the FPC text for inclusion in the Annual 
Reports comes to the FPC at the May meeting but that meeting had been 
cancelled.  It was noted that an “asterisk” is required to be added beside 
Trustee Rockafella’s name to indicate that she is a member of the Audit 
Committee. 
 
FPC-2021-028 
It was MOVED and SECONDED, 
that Financial Planning Committee approve the attached text as amended for 
inclusion in the 2020-21 Annual Report for submission to the Minister of 
Municipal Affairs.  
CARRIED 
 
8. NEW BUSINESS 

 ADOPTED 
 
Financial Planning Committee 
Minutes of a Regular Meeting 
September 1, 2021 ADOPTED Page 5 of 5 
 
None. 
 
9. NEXT MEETING 
 
Wednesday, October 20, 2021 from 10:00 a.m. to 3:00 p.m.  
 
10. ADJOURNMENT 
 
By general consent the meeting adjourned at 11:30 a.m. 
 
 
 
_________________________ 
Peter Grove, Chair 
 
 
Certified Correct: 
 
 
_________________________ 
Robert Barlow, Legislative Services Clerk/Recorder