Purpose:
The Finance Committee reviews all financial matters referred to the Committee including, but not limited to, the City’s operating and capital budgets, the annual audit and management letter, the annual report and funding alternatives, as well as items referred by other agencies.
The purpose of the Finance Committee is to assist Council in fulfilling its financial fiduciary responsibilities for the City by reviewing and making recommendations to Council, regarding:
- operational and capital budgets and amendments;
- interim and annual financial information;
- funding requests;
- external and internal audit reports; and
- systems of corporate control which Management and Council have established.
Membership:
Voting Members:
Voting members shall consist of all members of Council. The Mayor will appoint a Councillor as Chair of the Committee, and another Councillor as Vice-Chair. If, for any reason, the Chair and Vice-Chair is absent, the Mayor or Acting Mayor has the authority to call and chair a meeting of the Finance Committee subject to quorum requirements. The terms of appointments of the chairs shall be at the discretion of the Mayor.
Non-Voting Members:
• General Manager of Financial Services – Staff liaison and financial advisor to the Finance Committee
• Manager of Financial Planning – Alternate staff liaison and advisor to the Finance Committee
• General Managers – Advisors to the Committee
• Managers – Advisors to the Committee
• Other Committees/Commissions/Task Forces – Advisors to the Committee
• Corporate Officer or designate
Related Documents:
Finance Committee Terms of Reference
Agendas and Minutes:
Finance Committee Agendas and Minutes