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2025-12-09 Finance Committee Minutes - Open Session Finance Committee Meeting Open Session December 9, 2025 MINUTES – OPEN SESSION FINANCE COMMITTEE MEETING DECEMBER 9, 2025 AT 4:30 PM MEETING CONDUCTED BY ELECTRONIC PARTICIPATION Present: Mayor D. Noade Reardon Councillor G. Sullivan Councillor P. Radwan Councillor G. Stewart Councillor G. Norton Also Present: Chief Administrative Officer B. McGovern Commissioner of Finance and Treasurer K. Fudge Commissioner Growth & Community Services A. Poffenroth Commissioner Human Resources S. Hossack Commissioner Public Works & Transportation M. Hugenholtz Commissioner Utilities & Infrastructure I. Fogan Fire Chief R. Nichol Director Financial Services J. Forgie Director Financial Services C. Lavigne Director Engineering M. Baker Director Corporate Performance S. Rackley-Roach Intermediate Accountant V. Parikh Deputy City Clerk A. McLennan 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 November 12, 2025 Moved by Councillor Stewart, seconded by Councillor Norton: RESOLVED that the minutes of November 12, 2025 be approved. MOTION CARRIED. 3. Approval of Agenda Moved by Councillor Stewart, seconded by Councillor Norton: RESOLVED that the agenda of December 9, 2025 be approved. MOTION CARRIED. 4. Disclosures of Conflict of Interest No disclosures. 5. Consent Agenda 5.1 2025 Operating and Capital Reserves Finance Committee Meeting Open Session December 9, 2025 Moved by Councillor Stewart, seconded by Councillor Norton: RESOLVED that as recommended in the submitted report “2025 Operating and Capital Reserves”, the Finance Committee approve the transfers to and from the following reserves and forward a copy of the report to Common Council for approval: General Operating Reserves  $564,809 from the General Operating Fund to the General Operating Reserve  $729,057 from the General Operating Reserve to the General Operating Fund  $580,000 from the General Capital Reserve to the General Operating Reserve General Capital Reserves  $7,668,279 from the General Operating Fund to the General Capital Reserve  $5,133,248 from the General Capital Reserve to the General Capital Fund  $580,000 from the General Capital Reserve to General Operating Reserve Utility Operating Reserves  $603,469 from the Utility Operating Fund to the Utility Operating Reserve (Industrial Rate Stabilization)  $4,750,000 from the Utility Operating Reserve to the Utility Operating Fund  $4,750,000 from the Utility Capital Reserve to the Utility Operating Reserve Utility Capital Reserves  $1,802,839 from the Utility Operating Fund to the Utility Fund Capital Reserve  $541,169 from the Utility Capital Reserve to the Utility Capital Fund  $4,750,000 from the Utility Capital Reserve to the Utility Operating Reserve MOTION CARRIED. 5.2 2026-2029 Capital Renewal Plan (CRP) Moved by Councillor Stewart, seconded by Councillor Norton: RESOLVED that as recommended in the submitted report “2026-2029 Capital Renewal Plan (CRP)”, the Finance Committee endorse the 2026–2029 Capital Renewal Plan (CRP) (Part 1 & Part 2) for the capital renewal funding allocation as set out in Exhibits 1 & 2; and recommend approval of the above noted item at the next meeting of Council. MOTION CARRIED. 6. Business Matters 6.1 5-Year Capital Investment Plan Update (Utility and General Fund) M. Baker, Director of Engineering, reviewed the submitted report entitled “5-Year Capital Investment Plan Update (Utility and General Fund)”. Councillor Radwan joined the meeting. Mayor Noade Reardon joined the meeting. Moved by Councillor Stewart, seconded by Councillor Radwan: RESOLVED that as recommended in the submitted report “5-Year Capital Investment Plan Update (Utility and General Fund), the Finance Committee endorse the 5-Year Capital Investment Plan for the General Fund and Utility Fund as set out in Exhibits 1 & 2; and recommend to Council to approve the above noted items at the next meeting of Council. MOTION CARRIED. 7. Adjournment Moved by Councillor Radwan, seconded by Councillor Stewart: RESOLVED that the Finance Committee meeting be adjourned. Finance Committee Meeting Open Session December 9, 2025 MOTION CARRIED. The Finance Committee open session meeting held on December 9, 2025, was adjourned at 4:45 p.m.