City of Port Moody
Finance Committee
Agenda

Tuesday, November 19, 2024

4:30 P.m. - 7:30 P.m.

Electronic Webinar via Zoom

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1.

Call to Order

You can watch the livestream of this meeting at portmoody.ca/watchlive, join the webinar at portmoody.ca/councilmeetings, or view the meeting in the Parkview Room, 2nd Floor, City Hall, 100 Newport Drive, Port Moody.

2.

Adoption of the Agenda

2.1

Agenda

• Recommendation(s):

  
  THAT the agenda of the November 19, 2024, Finance Committee meeting be adopted as circulated.

3.

Adoption of Minutes

3.1

Minutes

• Recommendation(s):

  
  THAT the minutes of the following Finance Committee meetings be adopted:

  • October 15, 2024; 
  • October 18, 2024; and 
  • October 25, 2024.

4.

New Business

4.1

St. Andrews Street Road Width Extension Funding Source

Memo: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the Asset Reserve - Transportation Envelope fund the City’s contribution of up to $100,000 for the road width extension of St. Andrews Street to a
  5.5-metre width as recommended in the memo dated October 15, 2024, from the Finance and Technology Department – Financial Services Division regarding the St. Andrews Street Road Width Extension Funding Source.

4.2

Port Moody Police Board 2025-2029 Financial Plan

Memo: Port Moody Police Board

• Recommendation(s):

  
  THAT the memo dated November 6, 2024, from the Port Moody Police Board regarding Port Moody Police Board 2025-2029 Financial Plan be received for information.

4.3

2025 Budget Consultation

Presentation: Financial Services Division

Report to be distributed on-table.

• Recommendation(s):

  
  THAT the report dated November 19, 2024, from the Finance and Technology Department – Financial Services Division regarding 2025 Budget Consultation be received for information.

4.4

Provisional 2025-2029 Utility Five-Year Financial Plan

Presentation: Financial Services Division

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the provisional 2025-2029 Utility Five-Year Financial Plan be approved as recommended in the report dated November 19, 2024, from the Finance and Technology Department – Financial Services Division regarding 2025-2029 Five-Year Financial Plan;

  AND THAT the proposed utility fees and charges be incorporated into the City’s Fee Bylaw.

4.5

2025-2029 Five-Year Financial Plan Deliberations

Presentation: Financial Services Division

Memo: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the memo dated November 19, 2024, from the Finance and Technology Department – Financial Services Division regarding 2025-2029 Five-Year Financial Plan Deliberations be received for information;

  AND THAT the Draft budget increase of $_________ be brought to the December 3, 2024, Special Finance Committee meeting for Provisional budget approval.

5.

Recess

Should items arise during the Finance Committee meeting that need to be discussed in a Closed meeting, the meeting will recess into a Closed meeting at this point to consider those items.

5.1

Resolution to Exclude the Public

• Recommendation(s):

  
  THAT, pursuant to section 90 of the Community Charter, this portion of the Finance Committee meeting be closed to the public as the subject matters being considered relate to the following:

  • 90(1)(c) – labour relations or other employee relations;
  • 90(1)(k) – negotiations and related discussions respecting the proposed provision of a municipal service that are at their preliminary stages and that, in the view of the council, could reasonably be expected to harm the interests of the municipality if they were held in public; and
  • 90(1)(l) – discussions with municipal officers and employees respecting municipal objectives, measures, and progress reports for the purposes of preparing an annual report under section 98 [annual municipal report].

6.

Rise and Report

6.1

Referral of Finance Committee Resolutions

• Recommendation(s):

  
  THAT the recommendations approved at the Finance Committee meeting of November 19, 2024, be referred to the Council Standing Committee meeting of November 19, 2024, for ratification.

7.

Adjournment