July 20, 2022 Audit Committee

Agenda

1. CALL TO ORDER

2. APPROVAL OF MINUTES – March 9, 2022

3. APPROVAL OF THE ORDER OF BUSINESS AND APPROVAL OF ADDITIONS AND DELETIONS

4. CALL FOR DECLARATION OF CONFLICT OF INTERESTS

5. YEAR END FINANCIAL STATEMENTS & FOURTH QUARTER FINANCIAL REPORT 

- Staff Presentation [PDF]
- KPMG Presentation [PDF]

Motion: 
That the Audit Committee recommend that Halifax Regional Council approve:

1)    The Consolidated Financial Statements of the Halifax Regional Municipality for the year ended March 31, 2022;

2)    The Statement of General Rate Surplus of the Halifax Regional Municipality for the year ended March 31, 2022;

3)    Transfers of $29,348,010 as outlined below, to reduce the general rate surplus to zero:

•    Multi-District Facilities Reserve, Q546        $    1,000,000
•    Capital Fund Reserve, Q526            $    1,761,400 
•    Options Reserve, Q421                $  26,586,610

4)    The financial statements of the Halifax Regional Municipality Miscellaneous Trust Funds for the year ended March 31, 2022; and,

5)    That KPMG continue as the External Auditor until the tender for external audit services is awarded for fiscal year 2022/23.

6)    The Fourth Quarter 2021/22 Financial Report.

7)    Approve unbudgeted withdrawals of $14,286,610 from the Options Reserve to fund operating shortfalls and pressures in fiscal 2022/23 as laid out in Attachment 10.

6. IN CAMERA (IN PRIVATE) - NONE

7. DATE OF NEXT MEETING – TBD

8. ADJOURNMENT 

INFORMATION ITEMS – NONE