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2024-05-22 Finance Committee Minutes - Open Session Finance Committee Meeting Open Session May 22, 2024 MINUTES – OPEN SESSION FINANCE COMMITTEE MEETING MAY 22, 2024 AT 4:30 PM MEETING CONDUCTED BY ELECTRONIC PARTICIPATION Present: Mayor D. Noade Reardon Councillor G. Sullivan Councillor G. Norton Councillor P. Radwan Absent: Councillor D. Hickey Also Present: Chief Administrative Office B. McGovern Commissioner of Finance and Treasurer K. Fudge Fire Chief R. Nichol Solicitor J. Boucher Commissioner Human Resources S. Hossack Commissioner Utilities & Infrastructure I. Fogan Commissioner Growth & Community Services A. Poffenroth Director Public Works T. O’Reilly Director Financial Services J. Forgie Director Financial Services C. Lavigne Intermediate Accountant V. Parikh Director Corporate Performance S. Rackley-Roach Senior Financial Manager, Police F. Szalai Senior Manager Transit & Fleet K. Loughery Energy Manager S. Yammine Manager Customer Service & Operations C. Smith Corporate Asset Management Coordinator B. Neal Administrative Assistant A. MacLean Administrative Assistant K. Tibbits 1. Meeting Called to Order Councillor Sullivan called the Finance Committee open session meeting to order. 2. Approval of Minutes 2.1 Minutes of February 28, 2024 Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the minutes of February 28, 2024 be approved. MOTION CARRIED. 3. Approval of Agenda Moved by Mayor Noade Reardon, seconded by Councillor Norton: RESOLVED that the agenda of May 22, 2024 be approved. MOTION CARRIED. 4. Disclosures of Conflict of Interest Finance Committee Meeting Open Session May 22, 2024 No disclosures. 5. Consent Agenda 5.1 RESOLVED that as recommended in the submitted report Proposed Remaining Meeting Dates for Finance Committee 2024, the Finance Committee approve the meeting dates as submitted. 5.2 RESOLVED that as recommended in the submitted report Saint John Non-Profit Housing Sinking Fund, the Finance Committee endorse Saint John Non-Profit Housing’s letter to access the funds in the Saint John Non-Profit Housing Sinking fund and forward the report to Common Council for approval. 5.3 RESOLVED that as recommended in the submitted presentation 2025 Budget Timelines and Process, the Finance Committee endorse the timelines and plan set out in this presentation for the 2025 Operating budget process. 5.4 RESOLVED that as recommended in the submitted presentation 2025 Capital Budget and Five- Year Capital Investment Plan, the Finance Committee endorse the timelines and plan set out in this presentation for the 2025 Capital budgets and the Five-Year Capital Financial Plan. Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the recommendation set out in each consent agenda item respectively be adopted. MOTION CARRIED. 6. Business Matters 6.1 Modernizing Saint John’s Asset and Maintenance Management Systems S. Yammine, Energy Manager, reviewed the submitted presentation Modernizing Saint John’s Asset and Maintenance Management Systems. Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the submitted presentation Modernizing Saint John’s Asset and Maintenance Management Systems be received for information. MOTION CARRIED. 6.2 Housing Accelerator Funding 2024 Budget Amendment C. Smith, Program Manager, reviewed the submitted report Housing Accelerator Funding – 2024 Budget Amendment. Moved by Mayor Noade Reardon, seconded by Councillor Norton: RESOLVED that as recommended in the submitted report Housing Accelerator Funding 2024 Budget Amendment, the Finance Committee approve the 2024 Budget recommendation for funding received as part of the Housing Accelerator Funding. MOTION CARRIED. 6.3 Transit Purchase Electric Vehicles – Request for 2023-2024 Capital Budget Adjustment K. Loughery, Manager Transit & Fleet, reviewed the submitted report Transit Purchase Electric Vehicles – Request for 2023-2024 Capital Budget Adjustment. Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that as recommended in the submitted report Transit Purchase Electric Vehicles – Request for 2023-2024 Capital Budget Adjustment, the Finance Committee approve an adjustment to the 2023 and 2024 capital budgets to enable the residual lease buyout of six (6) twenty-foot Karsan E-Jest Electric Buses from Damera Leasing Canada Corp. at a total cost of $1,662,111.24 plus HST. MOTION CARRIED. Finance Committee Meeting Open Session May 22, 2024 6.4 2023 Unaudited General and Utility Fund Year-End Results C. Lavigne, Director Financial Services, reviewed the submitted presentation December 31, 2023 Unaudited Financial Results General Fund and Utility Fund. Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the submitted presentation 2023 Unaudited General and Utility Fund Year-End Results be received for information and any questions be directed to staff. MOTION CARRIED. 6.5 April 2024 Year-to-Date Financial Results – General and Utility Fund C. Lavigne, Director Financial Services, reviewed the submitted presentation April 2024 Year-to-Date Financial Results – General and Utility Fund. Moved by Mayor Noade Reardon, seconded by Councillor Norton: RESOLVED that the submitted presentation April 2024 Year-to-Date Financial Results – General and Utility Fund be received for information and any questions be directed to staff. MOTION CARRIED. 7. Adjournment Moved by Mayor Noade Reardon, seconded by Councillor Norton: RESOLVED that the Finance Committee meeting be adjourned. MOTION CARRIED. The Finance Committee open session meeting held on May 22, 2024, was adjourned at 5:35 p.m.