2020-09-15 Finance Committee Minutes - Open SessionFinance Committee Meeting
Open Session
September 15, 2020
MINUTES — OPEN SESSION FINANCE COMMITTEE MEETING
SEPTEMBER 15, 2020 AT 5:00 PM
MEETING CONDUCTED BY ELECTRONIC PARTICIPATION
Present: Mayor D. Darling
Councillor D. Merrithew
Councillor S. Casey
Councillor D. Reardon
Councillor G. Sullivan
Absent: Councillor G. Norton
Also
Present: City Manager J. Collin
Commissioner of Finance and Treasurer K. Fudge
City Solicitor J. Nugent
Solicitor M. Tompkins
Commissioner Growth & Community Development J. Hamilton
Commissioner Transportation & Environment M. Hugenholtz
Commissioner Saint John Water B. McGovern
Deputy Commissioner Transportation & Environment J. Hussey
Senior Financial Manager C. Lavigne
Senior Financial Manager D. Arbour
Senior Financial Manager T. Fawcett
Director of Strategic Affairs Ian Fogan
Fire Chief K. Clifford
Communications Officer N. Moar
Administrative Officer R. Evans
Administrative Assistant K. Tibbits
1. Meeting Called To Order
Councillor Merrithew called the Finance Committee open session meeting to order.
1.1 Approval of Minutes
1.1.1 Minutes of July 23, 2020
Moved by Councillor Reardon, seconded by Councillor Sullivan:
RESOLVED that the minutes of July 23, 2020 be approved.
MOTION CARRIED.
1.1.2 Minutes of August 13, 2020
Moved by Councillor Reardon, seconded by Councillor Casey:
RESOLVED that the minutes of August 13, 2020 be approved.
MOTION CARRIED.
Finance Committee Meeting
Open Session
September 15, 2020
1.2 Safe Clean Drinking Water Financial Update
Mr. McGovern noted that an important milestone has been reached with regard to the Safe Clean
Drinking Water project, the largest infrastructure project in the history of New Brunswick, with
the issuance of the Final Completion certificate. All deficiencies have been addressed and
documents turned over to the City, which have been reviewed for accuracies and corrections.
The budget for the project was just over $183M. The total capital cost is expected to be just under
$182M, a surplus of approximately $1M.
Moved by Councillor Sullivan, seconded by Councillor Reardon:
RESOLVED that the report entitled "Safe Clean Drinking Water — Final Completion" be brought
forward to the next meeting of Common Council; and further that the report be received for
information.
MOTION CARRIED.
1.3 General Fund COVID-19 Financial Impact Update
Ms. Arbour reviewed the submitted presentation "General Fund COVID-19 Financial Impact
Update" and commented on the impact of COVID-19 on the City's finances, including a forecast
foryear-end. Revenues are expected to be down $4.1M compared to budget, however revenue
loss has been mitigated with cost savings, largely due to restructuring efforts and diminished
spending. 2020 is the final year of provincial financial assistance; any savings realized this year
from operations will reduce this funding. Premier Higgs has committed verbally to fund the
operating deficits of transit organizations in New Brunswick, which will reduce the City's liability.
Moved by Councillor Reardon, seconded by Councillor Casey:
RESOLVED that the General Fund COVID-19 Financial Impact Update, be received for information.
MOTION CARRIED.
1.4 Procure to Pay Project
Ms. Arbour reviewed the submitted presentation "Procure to Pay Project — An Overview." The
Ernst & Young operational review identified a number of opportunities in procurement. The
successful implementation of a Procure to Pay software system will streamline processes and
identify opportunities. This system will also enable digitization of accounting and financial
records, identified as a best practice by the City's auditor. In addition to implementing best
finance, accounting and procurement practices, the project will maximize value for taxpayers,
reduce costs and streamline the expense management process.
Moved by Mayor Darling, seconded by Councillor Casey:
RESOLVED that the presentation entitled, "Procure to Pay Project — An Overview', be received
for information.
MOTION CARRIED.
Adjournment
Moved by Councillor Reardon, seconded by Councillor Sullivan:
RESOLVED that the Finance Committee meeting be adjourned.
MOTION CARRIED.
The Finance Committee open session meeting held on September 15, 2020 was adjourned at
5:45 p.m.
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