Audit Committee Meeting

Minutes

Meeting #:
Date:
Time:
-
Location:
Council Chambers Level 2, City Hall
Members Present:
  • John Taylor (Chair),
  • Peter Maher (Vice Chair),
  • Jack Dennison,
  • Mayor Rick Goldring,
  • Maceij Jurczyk,
  • and David Tait
Member Regrets:
  • Paul Sharman
  • and Brian Goard
Staff Present:
  • Laura Boyd,
  • Joan Ford,
  • Allan Magi,
  • Angela Morgan,
  • Sandy O'Reilly,
  • Christine Swenor,
  • Mary Lou Tanner,
  • David Thompson (Audio/Video Specialist),
  • and Lisa Palermo (Clerk)

1.
Declarations of Interest:

​None.

2.
Delegation(s):

2.1
Delegation from Trevor Ferguson and Adam Cross, Deloitte, LLP regarding the external audit results for 2016 (F-27-17)

​Trevor Ferguson and Adam Cross appeared to provide an overview of the 2016 external audit results.

3.
Consent Items:

3.1
Audit Committee terms of reference review (CL-14-17)
This item has attachments.

1.CL-14-17 audit tor review.pdf
2.CL-14-17 Appendix A.pdf
  • Moved by:David Tait

    Approve minor amendments to the Audit Committee Terms of Reference as outlined in Appendix A of clerks department report CL-14-17.

    CARRIED

3.2
Status of audit work plan, budget and performance metrics (CA-09-17)
This item has attachments.

1.CA-09-17 Status of Audit Work Plan, Budget and Performance Metrics.pdf
2.Appendix A - CA-09-17 2017 Internal Audit Work Plan - Status Report.pdf
3.Appendix B - CA-09-17 2017 Key Performance Measures.pdf
  • Moved by:David Tait

    Receive and file City Auditor’s Office report CA-09-17 providing the status of the audit work plan, budget and performance metrics as of April 30, 2017.

    CARRIED

3.3
Summary of outstanding audit Issues (CA-08-17)
This item has attachments.

1.CA-08-17 Summary of Outstanding Audit Issues .pdf
2.Appendix A - CA-08-07 High and Medium risk Outstanding Audit Issues.pdf
  • Moved by:David Tait

    Receive and file City Auditor’s Office report CA-08-17 providing a summary of high- and medium-risk outstanding audit issues as of March 31, 2017.

    CARRIED

3.4
Financial policies (F-25-17)
This item has attachments.

1.F-25-17 Financial Policies.pdf
2.F-25-17-Appendix A.pdf
3.F-25-17-Appendix B-Development Charges.pdf
4.F-25-17-Appendix C-Accounting and Financial Policies.pdf
  • Moved by:David Tait

    Receive and file finance department report F-25-17 providing information on financial policies.

    CARRIED

3.5
Financial results for Burlington Hydro Electric Inc (F-26-17)
This item has attachments.

1.F-26-17 Financial Results BHEI.pdf
  • Moved by:David Tait

    Receive and file finance department report F-26-17 providing information on financial results for Burlington Hydro Electric Inc.

    CARRIED

3.6
Financial highlights for the period ended March 31, 2017 (F-24-17)
This item has attachments.

1.F-24-17 Financial Highlights.pdf
  • Moved by:David Tait

    Receive and file finance department report F-24-17 providing financial highlights for the period ending March 31, 2017.

    CARRIED

  • Receive and file finance department report F-24-17 providing financial highlights for the period ending March 31, 2017.

    CARRIED

4.
Regular Items:

4.1
Occupational fraud (HR-02-17)
This item has attachments.

1.HR-02-17.pdf
  • Moved by:Peter Maher

    Receive and file human resources department report HR-02-17, regarding occupational fraud.

    CARRIED

4.2
Report recommending approval of the 2016 consolidated financial statements as audited by Deloitte LLP (F-23-17)
This item has attachments.

1.F-23-17 2016 Consolidated Financial Statements.pdf
2.F-23-17 - Appendix A - City of Burlington Consolidated FS (Drafts).pdf
3.F-23-17 - Appendix B - Burlington Public Library FS (Final).pdf
4.F-23-17 - Appendix C - Burlington Museums Board FS (Final).pdf
5.F-23-17 - Appendix D - Burlington Theatre Board Inc FS (Final).pdf
6.F-23-17 - Appendix E - Burlington Economic Development Corp FS (Final).pdf
7.F-23-17 - Appendix F - Burlington Downtown FS (Final).pdf
8.F-23-17 - Appendix G - Aldershot Village BIA FS (Final).pdf
9.F-23-17 - Appendix H - The Trust Funds of the Corporation of the City of Burlington (Draft).pdf
  • Moved by:Mayor Goldring

    Approve the 2016 Consolidated Financial Statements for the City of Burlington and the Local Boards, as audited by Deloitte LLP; and

     

    Approve the 2016 Financial Statements for the Trust Funds of the City of Burlington as audited by Deloitte LLP; and

     

    Authorize the Director of Finance to publish the statements on the City’s website.

    CARRIED

4.3
External audit results for 2016 (F-27-17)
This item has attachments.

1.F-27-17 Results 2016 External Audit.pdf
  • Moved by:David Tait

    Receive and file finance department report F-27-17 presenting information on the external audit results for 2016.

    CARRIED

4.4
Audit Committee self assessment workshop summary (CL-12-17)
This item has attachments.

1.CL-12-17 Audit workshop summary.pdf
2.CL-12-17 Appendix A.pdf
  • Moved by:Peter Maher

    Receive and file clerks department report CL-12-17 providing the Audit Committee self assessment workshop summary; and

    Direct the City Manager, City Auditor and Audit Committee Clerk to respond to the recommendations contained in the Audit Committee self assessment workshop summary attached as Appendix A to clerks department report CL-12-17.

    CARRIED

4.5
Information technology annual assurance report presentation (A-01-17)

  • Moved by:Mayor Goldring

    Receive and file information technology management audit assurance report presentation (A-01-17)

    CARRIED

4.6
Verbal update regarding the use of external consultants

  • Moved by:Mayor Goldring

    Defer the verbal update regarding the use of external consultants to the September 27, 2017 audit committee meeting.

    CARRIED

4.7
Enterprise risk management update (CM-08-17)
This item has attachments.

1.CM-8-17 enterprise risk update.pdf
  • Moved by:Peter Maher

    Receive and file city manager’s office report CM-08-17 providing an update on enterprise risk management risk registry in the areas of financial sustainability, climate change and technology.

    CARRIED

5.
Confidential Items:

6.
Procedural Motions:

6.1
Motion to move into closed session

  • Moved by:Maceij Jurczyk

    Move into closed session in accordance with the following provisions under the Municipal Act, sections 239 (a) the security of the property of the municipality or local board, with respect to finance department report F-27-17 regarding the external audit results for 2016 and with respect to human resources department report HR-02-17 regarding occupational fraud.

    CARRIED

7.
Information Items:

  • Moved by:Maceij Jurczyk

    Receive and file the following three items, having been given due consideration by the Audit Committee.

8.
Staff Remarks:

9.
Committee Remarks:

10.
Adjournment:

4:30 p.m. (closed), 4:46 p.m. (public)

Chair adjourned the meeting at 5:38 p.m.
No Item Selected