Town of Newmarket

Minutes

Audit Committee

Meeting #:
Date:	Monday, October 07, 2019
Time:	1:00 P.m. - 4:00 P.m.
Location:	Cane Room Municipal Offices 395 Mulock Drive Newmarket, ON L3Y 4X7

Members Present:

• Michael Tambosso, Chair
• Deputy Mayor & Regional Councillor Vegh, Vice-Chair
• Councillor Bisanz
• Rebecca Mathewson
• Councillor Morrison
• Tom Mungham

Staff Present:

• J. Sharma, Chief Administrative Officer
• E. Armchuk, Commissioner of Corporate Services
• M. Mayes, Director of Financial Services/Treasurer
• D. Schellenberg, Manager of Finance & Accounting
• T. Kyle, Chief Executive Officer, Newmarket Public Library
• A. Walkom, Legislative Coordinator
• J. Grossi, Legislative Coordinator

Guests:

• Pina Colavecchia, Deloitte Canada

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1.

Additions and Corrections to the Agenda

None.

2.

Declarations of Pecuniary Interest

None.

3.

Presentations

3.1

Orientation Session

The Legislative Coordinator provided an orientation presentation concerning Town By-laws, meeting procedures and the Code of Conduct.

4.

Approval of Minutes

4.1

Audit Committee Meeting Minutes of June 18, 2019

Michael Tambosso requested the minutes be amended to reflect the addition to the agenda regarding the internal audit report, as well as the discussion regarding the posting of draft financial statements.

• Moved by: Rebecca Mathewson
  Seconded by: Councillor Bisanz
  1. That the Audit Committee meeting minutes of June 18, 2019 be approved as amended.
  
  Carried

4.2

Audit Committee Meeting (Closed Session) Minutes of June 18, 2019

• Moved by: Councillor Bisanz
  Seconded by: Tom Mungham
  1. That the Audit Committee Meeting (Closed Session) Minutes of June 18, 2019 be approved.
  
  Carried

5.

Items

5.1

Appointment of Chair and Vice-Chair

• Moved by: Councillor Bisanz
  Seconded by: Rebecca Mathewson

  1. That Michael Tambosso be appointed as Chair of the Audit Committee.

  
  Carried
• Moved by: Councillor Bisanz
  Seconded by: Councillor Morrison

  2. That Deputy Mayor & Regional Councillor Vegh be appointed as Vice-Chair of the Audit Committee.

  
  Carried

5.2

2019 Audit Service Plan

Pina Colavecchia of Deloitte Canada presented the 2019 Audit service plan to the Committee. The presentation provided an overview of the audit scope and the terms of engagement. The presentation included an overview of significant audit risks, the audit approach, communication requirements, public sector accounting standards and asset retirement obligations. It was noted that while the audit included the Newmarket Public Library, the Audit Committee does not have a role regarding the Newmarket Public Library.

• Moved by: Councillor Bisanz
  Seconded by: Rebecca Mathewson
  1. That the presentation by Pina Colavecchia regarding the 2019 Audit Service Plan be received.
  
  Carried

6.

New Business

None.

7.

Closed Session (if required)

There was no requirement for a Closed Session.

8.

Adjournment

• Moved by: Councillor Bisanz
  Seconded by: Rebecca Mathewson
  1. That the meeting be adjourned at 1:59 PM. 
  
  Carried