FINANCIAL MANAGEMENT COMMITTEE MINUTES Thursday, 2015 March 26 An ‘Open’ meeting of the Financial Management Committee was held in the Works Yard Training Room, 4800 Still Creek Drive, Burnaby, B.C. on Thursday, 2015 March 26 at 5:30 p.m. 1. CALL TO ORDER PRESENT: Councillor D. Johnston, Chair Councillor C. Jordan, Vice Chair Councillor P. McDonell, Member STAFF: Mr. B. Moncur, City Manager Mr. L. Pelletier, Director Planning and Building Mr. L. Gous, Director Engineering Mr. B. Klimek, Deputy Director Finance Mr. J. Cusano, Deputy Chief Building Inspector Ms. B. Zeinabova, Administrative Officer The Chair called the Open meeting to order at 6:34 p.m. 2. MINUTES a) Minutes of the Open meeting of the Financial Management Committee held on 2015 March 03 MOVED BY Councillor P. McDonell SECONDED BY Councillor C. Jordan THAT the minutes of the 'Open' meeting of the Financial Management Committee held on 2015 March 03 be adopted. CARRIED UNANIMOUSLY 3. REPORTS MOVED BY Councillor P. McDonell SECONDED BY Councillor C. Jordan THAT the report be received. CARRIED UNANIMOUSLY a) Report from the Director Finance Re: Insurance Contract Renewals - Nine Programs The Director Finance submitted a report requesting approval to award insurance contracts for the annual Property and Liability insurance programs maintained by the City. The Director Finance recommended: 1. THAT the Financial Management Committee recommend Council approve the award of nine (9) contracts of insurance as specified in this report. The total amount, payable to Willis Canada to fund the insurance premiums is $911,000. Actual payment will be based on the financial insurance agreements. MOVED BY Councillor P. McDonell SECONDED BY Councillor C. Jordan THAT the recommendation of the Director Finance be adopted. CARRIED UNANIMOUSLY 4. NEW BUSINESS Councillor Jordan Councillor Jordan requested an update regarding the impact of assessment increases on residents with regard to the Home Owner Grant eligibility. Staff undertook to provide a memorandum to Council within two weeks. Councillor Johnston Councillor Johnston requested staff provide information regarding the average Burnaby home value and the assessment impacts, with breakdown on single family and multi-family dwellings. Staff undertook to provide information to the Committee. 5. INQUIRIES There were no inquiries brought before the Committee at this time. 6. CLOSED Public excluded in accordance with Sections 90 and 92 of the Community Charter of BC. MOVED BY COUNCILLOR P. MCDONELL SECONDED BY COUNCILLOR C. JORDAN THAT this meeting do now recess. CARRIED UNANIMOUSLY The Open Committee meeting recessed at 6:43 p.m. MOVED BY COUNCILLOR P. MCDONELL SECONDED BY COUNCILLOR C. JORDAN THAT the Open Committee meeting do now reconvene. CARRIED UNANIMOUSLY The Open Committee meeting reconvened at 6:44 p.m. 7. ADJOURNMENT MOVED BY Councillor P. McDonell SECONDED BY Councillor C. Jordan THAT this Open Committee meeting do now adjourn. CARRIED UNANIMOUSLY The Open meeting adjourned at 6:44 p.m. ________________________ ________________________ Blanka Zeinabova ADMINISTRATIVE OFFICER Councillor Dan Johnston CHAIR No Item Selected This item has no attachments 1 Insurance Contract Renewals - Nine Programs 2015.pdf 1 2015.pdf