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2021-09-28 Finance Committee Minutes - Open SessionFinance Committee Meeting Open Session September 28, 2021 MINUTES — OPEN SESSION FINANCE COMMITTEE MEETING SEPTEMBER 28, 2021 AT 5:30 PM 2nd FLOOR COMMON COUNCIL CHAMBER, CITY HALL Present: Mayor D. Noade Reardon Councillor G. Sullivan Councillor P. Radwan Councillor D. Hickey Absent: Councillor G. Norton Also Present: City Manager J. Collin Commissioner of Finance and Treasurer K. Fudge Manager Human Resources S. Hossack Commissioner Transportation & Environment M. Hugenholtz Commissioner Saint John Water B. McGovern Commissioner Growth & Community Services J. Hamilton Senior Financial Manager J. Forgie Senior Financial Manager C. Lavigne Senior Financial Manager D. Arbour City Clerk J. Taylor Mayor's Strategic Advisor B. Dryer Administrative Assistant K. Tibbits 1. Meeting Called to Order Councillor Sullivan called the Finance Committee open session meeting to order. Moved by Councillor Hickey, seconded by Mayor Reardon: RESOLVED that the agenda of September 28, 2021 be approved and that Item 4.3 Growth Committee: Strategic Land Reserve be brought forward. ►161116P►[aye ::1" 2. Approval of Minutes —July 22, 2021 Moved by Councillor Hickey, seconded by Councillor Radwan: RESOLVED that the minutes of July 22, 2021 be approved. MOTION CARRIED. 3. Consent Agenda 3.1 Procurement Card Policv (Recommendation in Resort Moved by Mayor Reardon, seconded by Councillor Radwan: Finance Committee Meeting Open Session September 28, 2021 RESOLVED that the Finance Committee recommends the approval of the submitted Procurement Card Policy Statement to Common Council. MOTION CARRIED. 4. Business Matters 4.3 Growth Committee: Strategic Land Reserve Moved by Councillor Radwan, seconded by Councillor Hickey: RESOLVED that as recommended by the Growth Committee, the Finance Committee endorse, and recommends that Common Council approve the Strategic Real Estate Capital Reserve Fund Policy which will establish the governance for the Strategic Real Estate Capital Reserve Fund that was created by Council on May 17, 2021. MOTION CARRIED. 4.1 Finance Committee Orientation Mr. Fudge reviewed the submitted presentation "Orientation Strategic Financial Management." The mandate of the Finance Committee was expanded in 2016 to include budget development, continuous improvement, fiscal management (policy), long-term financial planning and resource allocation. (Mayor Reardon withdrew from the meeting) 4.2 Draft General and Utilitv Capital Budizets Mr. Fudge stated that these are the first proposed drafts of the 2022 general and utility fund capital budgets. These budgets represent over $43M in community investment, infrastructure renewal and long-term assets to provide services in the community. The Finance Committee is being asked to provide feedback. The proposed budgets will be brought back at the next meeting with a request to make a recommendation to Common Council for approval. Mr. Lavigne reviewed the submitted presentation on the draft general capital budget. Moved by Councillor Radwan, seconded by Councillor Hickey: RESOLVED that the draft General Capital budget be received for information. MA[QI1612[a1- ::1" Mr. Baker reviewed the submitted presentation on the draft utility capital budget. Moved by Councillor Hickey, seconded by Councillor Radwan: RESOLVED that the draft Utility Capital budget be received for information. TLAI I[eIL[ye ::1" Adjournment Moved by Councillor Hickey, seconded by Councillor Radwan: RESOLVED that the Finance Committee meeting be adjourned. TLAIiI[eIL[aL ::1" 2 Finance Committee Meeting Open Session September 28, 2021 The Finance Committee open session meeting held on September 28, 2021, was adjourned at 6:45 p.m.