City of Port Moody
Finance Committee
Agenda

Tuesday, January 21, 2025

6:00 P.m. - 8:00 P.m.

Electronic Webinar via Zoom

---

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 January 21, 2025, Finance Committee meeting be adopted as circulated.

3.

Adoption of Minutes

3.1

Minutes

• Recommendation(s):

  
  THAT the minutes of the meetings held on the following dates be adopted:

  • Finance Committee – November 19, 2024;
  • Special Finance Committee (to Close) – December 10, 2024;
  • Special Finance Committee (to Close) – December 17, 2024; and
  • Finance Committee – December 17, 2024.

4.

New Business

4.1

2025 Revenue Policy Disclosure – Policies and Objectives

Presentation: Financial Services Division

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the report dated January 21, 2025, from the Finance and Technology Department – Financial Services Division regarding Revenue Policy Disclosure – Policies and Objectives be received for information.

4.2

Alternative Tax Collection Scheme Consideration for 2025

Memo: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT staff be directed to bring forward the provisions of an alternative tax collection scheme with the 2025 tax rates bylaw that includes a due date of
  July 2, 2025, with a 5% penalty, and a second 5% penalty for all payments received after September 15, 2025, and a waiver of the penalty for the Home Owner Grant portion of outstanding taxes if the home owner applies to the Province of British Columbia by September 15, 2025, as recommended in the memo dated January 21, 2025, from the Finance and Technology Department – Financial Services Division regarding Alternative Tax Collection Scheme consideration for 2025.

5.

Rise and Report

5.1

Referral of Finance Committee Resolutions

• Recommendation(s):

  
  THAT the recommendations approved at the Finance Committee meeting of January 21, 2025, be referred to the Council Standing Committee meeting of January 21, 2025, for ratification.

6.

Adjournment