City of Port Moody
Finance Committee
Agenda

Tuesday, November 21, 2023

5:00 P.m. - 6:00 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 or 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 21, 2023, Finance Committee meeting be adopted as circulated.

3.

Adoption of Minutes

3.1

Minutes

• Recommendation(s):

  
  THAT the minutes of the Finance Committee meeting of October 17, 2023, be adopted.

4.

New Business

4.1

2023 Grant Tracking – Third Quarter Update

Memo: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the memo dated November 21, 2023, from the Finance and Technology Department – Financial Services Division regarding 2023 Grant Funding – Third Quarter Update be received for information.

4.2

Request for Additional Funding for the Purchase of One Public Waste Collection Vehicle (SO22011)

Report: Engineering and Operations Department – Solid Waste, Fleet, and Shared Services Division

• Recommendation(s):

  THAT $155,000 be approved from the Equipment Replacement Reserve to fund the purchase of one dedicated Public Waste Collection Truck as recommended in the report dated November 21, 2023, from the Engineering and Operations Department – Solid Waste, Fleet, and Shared Services Division regarding Request for Additional Funding for the Purchase of One Public Waste Collection Vehicle (SO22011).

4.3

2024 Community Grants Program

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT staff include the Arts, Culture, and Heritage Grant Program in the Community Grants Program, with annual funding of up to $10,000 from the Artwork Reserve, with a maximum award of $5,000, for a trial period of three years as recommended in the report dated November 21, 2023, from the Finance and Technology Department – Financial Services Division regarding 2024 Community Grant Program.

4.4

Mount Royal Walkway – Budget Allocation

Report: Engineering and Operations Department – Project Delivery Services Division

• Recommendation(s):

  
  THAT a 2023 capital project be established with a project budget of $350,000, funded from the Asset Reserve – Transportation, to construct a new Mount Royal Walkway as recommended in the report dated November 21, 2023, from the Engineering and Operations Department – Project Delivery Services Division regarding Mount Royal Walkway – Budget Allocation.

4.5

Contract Awards over $200,000 – October 1, 2023, to October 31, 2023

Memo: Finance and Technology Department – Corporate Purchasing and Risk Management Division

• Recommendation(s):

  
  THAT the memo dated November 21, 2023, from the Finance and Technology Department – Corporate Purchasing and Risk Management Division regarding Contract Awards over $200,000 – October 1, 2023, to October 31, 2023, be received for information.

4.6

Provisional 2024-2028 Utility Five-Year Financial Plan

Presentation: General Manager of Finance and Technology

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the provisional 2024-2028 Utility Five-Year Financial Plan be approved as recommended in the report dated November 21, 2023, from the Finance and Technology Department – Financial Services Division regarding 2024-2028 Five-Year Financial Plan;

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

4.7

Provisional 2024-2028 Capital Budget Approval

Presentation: General Manager of Finance and Technology

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the report dated November 21, 2023, from the Finance and Technology Department – Financial Services Division regarding Provisional 2024-2028 Capital Budget Approval be received for information.

4.8

2024-2028 Five-Year Financial Plan Budget Consultation

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the 2024-2028 Five-Year Financial Plan consultation plan be endorsed as recommended in the report dated November 21, 2023, from the Finance and Technology Department – Financial Services Division regarding 2024-2028 Five-Year Financial Plan Budget Consultation.

5.

Rise and Report

5.1

Referral of Finance Committee Resolutions

• Recommendation(s):

  
  THAT the recommendations approved at the Finance Committee meeting of November 21, 2023, be referred to the Council Standing Committee meeting of November 21, 2023, for ratification.

6.

Adjournment