August 21, 2024 Audit Committee

Agenda

1. CALL TO ORDER AND LAND ACKNOWLEDGEMENT

2. APPROVAL OF MINUTES – March 20, 2024

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 [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, 2024;

2) The Statement of General Rate Surplus of the Halifax Regional Municipality for the year ended March 31, 2024;

3) Transfers to reserves of the following amounts to reduce the general rate surplus to zero:
• Q416 Operating Stabilization Reserve - $8M
• Q526 Capital Funds Reserve - $3.5M
• Q421 Options Reserve - $2.1M

4) The financial statements of the Halifax Regional Municipality Miscellaneous Trust Funds for the year ended March 31, 2024; and

5) The appointment of KPMG to be the External Auditor for the fiscal year ended March 31, 2025.

6) The Fourth Quarter report for 2023/24 on District Capital, District Activity, Recreation Area Rates, Hospitality Expenses, and Expenses for Reportable Individuals.

6. IN CAMERA (IN PRIVATE)
The Audit Committee may rise and go into a private In Camera session, in accordance with Section 19 of the Halifax Regional Municipality Charter, for the purpose of dealing with the following:

6.1 In Camera (In Private) Minutes – March 20, 2024
Motion:
That the In Camera (In Private) minutes of March 20, 2024 be approved as circulated.

7. DATE OF NEXT MEETING – TBD

8. ADJOURNMENT

INFORMATION ITEMS – NONE

For further information regarding this meeting, please contact Dorothy Maponga Legislative Assistant, at Dorothy.maponga@halifax.ca or 902-478-2408.

To submit correspondence, email clerks@halifax.ca 
More information: https://www.halifax.ca/city-hall/regional-council/communicating-halifax-regional-council