August 19, 2020 Audit Committee (Special)

Agenda

1. CALL TO ORDER

2. APPROVAL OF MINUTES – June 26, 2019 & May 25, 2020

3. CALL FOR DECLARATION OF CONFLICT OF INTERESTS

4. YEAR END FINANCIAL STATEMENTS [PDF]
- 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, 2020;
2)    The Statement of General Rate Surplus of the Halifax Regional Municipality for the year ended March 31, 2020;
3)    Transfers of $35,119,994, as outlined below, to reduce the general rate surplus to zero:
•    Debt Principal and Interest Repayment Reserve, Q631 $3,600,000
•    Capital Fund Reserve, Q526 (BAL list items) $12,900,000
•    Capital Fund Reserve, Q526 $12,000,000
•    General Contingency Reserve, Q421 $6,619,994
4)    The financial statements of the Halifax Regional Municipality Miscellaneous Trust Funds for the year ended March 31, 2020; and,
5)    The appointment of KPMG to be the External Auditors for the fiscal year ended March 31, 2021.

5. IN CAMERA (IN PRIVATE) – NONE

6. DATE OF NEXT MEETING – TBD

7. ADJOURNMENT 

INFORMATION ITEMS – NONE