The
meeting of the Audit Committee was held on Monday, June 23, 2014 at 8:00 a.m.
in the Mulock Room, 395 Mulock Drive, Newmarket.
Members Present: Councillor
Hempen
C.
Prattas
M.
Foerster
Absent: Mayor
Van Bynen
Councillor
Di Muccio
M.
Holland
Staff: A.
Moore, Commissioner of Corporate Services
M. Mayes, Director, Financial
Services/Treasurer
D. Schellenberg, Manager of Finance
& Accounting
T. Kyle, CEO, Newmarket Public Library
L. Lyons, Deputy Clerk
K. Horton, Intern
Guest: M.
Jones, BDO Canada LLP
T. White, BDO Canada LLP
The meeting
was called to order at 8:08 a.m.
M. Forester in
the Chair.
additions to the agenda
None.
DECLARATIONS of interest
None.
1.
Audit Committee MINUTES – JUNE 23, 2014 – item 1
AUDIT COMMITTEE MINUTES
i) Audit Committee Minutes of June
11, 2013.
ii)
Audit
Committee (Closed Session) Minutes of June 11, 2013.
Moved by C. Prattas
Seconded by Councillor
Hempen
THAT the Audit Committee
Minutes of June 11, 2013 be approved.
CARRIED
Moved by C. Prattas
Seconded by Councillor
Hempen
THAT the Audit Committee
(Closed Session) Minutes of June 11, 2013 be approved.
CARRIED
2.
Audit Committee minutes
– JUNE 23, 2014 – item 2
review of 2013 financial statements
Mr. Jones, BDO Canada, LLP provided
an overview of the summary letter dated June 23, 2014 and provided a synopsis.
He advised that the Town of Newmarket
audit progressed smoothly and that new sections had been included in the audit
process being taxation and revenue and government transfers.
The Manager of Finance &
Accounting provided an overview of the Town’s Consolidated Financial
Statements, the Main Street District BIA Financial Statements as well as the
Town’s Trust Fund Financial Statements.
Discussion ensued regarding loans
receivable, interest rate of loans, type of investment and property liens. Further
discussion ensued regarding insurance expenses and Central York Fire Services
expenses.
Moved by Councillor Hempen
Seconded by C.
Prattas
THAT the Audit Committee
resolve into closed session pursuant to Section 239 of The Municipal Act,
2001 as amended, for the purpose of discussing labour relations or
employee negotiations.
CARRIED
The Audit Committee resolved into a
Closed Session at 9:09 a.m.
The Audit Committee (Closed Session)
Minutes are recorded under separate cover.
The
Audit Committee resumed into public session at 9:16 a.m.
Moved by C. Prattas
Seconded by Councillor Hempen
THAT the Town of Newmarket’s Draft
2013 Consolidated Financial Statements, Management Letter, Trust Fund Financial
Statements and Main Street District BIA Financial Statements, Representation
Letter dated June 23, 2014 and Summary Letter dated June 23, 2014 from Mr. M.
Jones, BDO Canada LLP be received;
AND THAT the Audit Committee recommends
to Council that the Town of Newmarket’s Draft 2013 Consolidated Financial
Statements, Trust Fund Financial Statements and Main Street District BIA
Financial Statements, as amended and endorsed by the Audit Committee be
approved.
CARRIED
3.
Audit Committee minutes
– JUNE 23, 2014 – item 3
NEW BUSINESS
Discussion ensued regarding
municipal contaminated properties, the reporting requirements of such and if a
property list exists. The Manager of Finance and Accounting advised that a
list limited to Town owned land and/or land by agreement is currently being
compiled, that a reporting requirement is necessary however will not be in
effect until 2015.
The next scheduled meeting of the
Audit Committee is Tuesday, September 9, 2014 at 8:00 a.m. in the Cane Room.
Moved
by C. Prattas
Seconded
by Councillor Hempen
THAT
the meeting adjourn.
CARRIED
There
being no further business the meeting adjourned at 9:28 a.m.
______________________ _____________________________
Date Mark
Holland, Chair