City of Port Moody
Finance Committee
Agenda

Tuesday, February 20, 2024

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, 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 February 20, 2024, 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 January 16, 2024, be adopted.

4.

New Business

4.1

Taste of the Tri-Cities 

Memo: Legislative Services Division

• Recommendation(s):

  
  THAT Council approve the Tri-Cities Chamber of Commerce funding request for “2024 Taste of the Tri-Cities”, as supported by Economic Development and Tourism Committee recommendation EDTC23/014;

  AND THAT the Council Contingency Fund be identified as the funding source for the 2024 Taste of the Tri-Cities Event;

  AND THAT a budget of up to $2,940 be approved from the Council Contingency Fund for the “2024 Taste of the Tri-Cities” as referenced in the Taste of Tri-Cities Invoice included to the memo regarding Taste of the
  Tri-Cities from the Legislative Services Division dated February 20, 2024, as Attachment 1.

4.2

Port Moody Police Board 2024-2028 Financial Plan

Memo: Port Moody Police Board

• Recommendation(s):

  
  THAT the memo dated February 6, 2024, from the Port Moody Police Board regarding Port Moody Police Board 2024-2028 Financial Plan be received for information.

4.3

Alternative Municipal Tax Collection Scheme

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT staff be directed to include the provisions of an alternative tax collection scheme into the 2024 tax rates bylaw that includes a due date of July 2, 2024, with a 5% penalty, and a second 5% penalty for all payments received after September 16, 2024, 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 16, 2024, as recommended in the report dated February 20, 2024, from the Finance and Technology Department – Financial Services Division regarding Alternative Municipal Tax Collection Scheme.

4.4

2024 Revenue Policy Disclosure – Policies and Objectives

Presentation: Financial Services Division

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the report dated February 20, 2024, from the Finance and Technology Department – Financial Services Division regarding 2024 Revenue Policy Disclosure – Policies and Objectives be received for information.

4.5

2024 Budget Consultation Summary

Presentation: Financial Services Division

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the report dated February 20, 2024, from the Finance and Technology Department – Financial Services Division regarding 2024 Budget Consultation Summary be received for information.

4.6

New Initiatives Reserve – 2024 Funding

Report: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the report dated February 20, 2024, from the Finance and Technology Department – Financial Services Division regarding New Initiatives Reserve – 2024 Funding be received for information.

4.7

2024 Budget Update and Deliberations

Memo: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the memo dated February 20, 2024, from the Finance and Technology Department – Financial Services Division regarding 2024 Budget Update and Deliberations be received for information.

4.8

2023 Grant Tracking – Final Update

Memo: Finance and Technology Department – Financial Services Division

• Recommendation(s):

  
  THAT the memo dated February 20, 2024, from the Finance and Technology Department – Financial Services Division regarding 2023 Grant Funding – Final Update be received for information.

4.9

Contract Awards Over $200,000 – January 1, 2024, to January 31, 2024

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

• Recommendation(s):

  
  THAT the memo dated February 20, 2024, from the Finance and Technology Department – Corporate Purchasing and Risk Management Division regarding Contract Awards Over $200,000 – January 1, 2024, to January 31, 2024, be received for information.

5.

Rise and Report

5.1

Referral of Finance Committee Resolutions

• Recommendation(s):

  
  THAT the recommendations approved at the Finance Committee meeting of February 20, 2024, be referred to the Council Standing Committee meeting of February 20, 2024, for ratification.

6.

Adjournment