FINANCE COMMITTEE REGULAR MEETING. Friday, February 15, :00 a.m. 2 nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia.

FINANCE COMMITTEE REGULAR MEETING Friday, February 15, 2013 9:00 a.m. 2 nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia. Membership A G E N D A 1 1. ADOPTION OF THE AGENDA 1.1 February 15, 2013 Regular Meeting Agenda That the Finance Committee adopt the agenda for its regular meeting scheduled for February 15, 2013 as circulated. 2. ADOPTION OF THE MINUTES 2.1 November 22, 2012 Regular Meeting Minutes That the Finance Committee adopt the minutes of its regular meeting held November 22, 2012 as circulated. 3. DELEGATIONS No items presented. 4. INVITED PRESENTATIONS No items presented. 5. REPORTS FROM COMMITTEE OR STAFF 5.1 2013 Finance Committee Priorities Designated Speaker: Jim Rusnak That the Finance Committee endorse the proposed 2013 Work Plan and the Terms of Reference as set out in the report dated January 28, 2013, titled 2013 Finance Committee Priorities. 1 Note: Recommendation is shown under each item, where applicable. January 28, 2013 FIN - 1

Finance Committee Regular Agenda February 15, 2013 Agenda Page 2 of 3 5.2 Regional Finance Symposium Update Designated Speaker: Jim Rusnak and Heather Schoemaker That the Board direct staff to follow up on actions arising from the 2012 Regional Finance Symposium including hosting a series of targeted workshops on shared service delivery, funding models for core service delivery, and large infrastructure development, as outlined in the report. 5.3 2013 Finance Committee Meeting Dates Designated Speaker: Paulette Vetleson That the Finance Committee establish the day, hour and place for its 2013 regular meetings as follows: Day and Hour Thursday, February 15 9:00 am Thursday, March 8 9:00 am Thursday, April 19 9:00 am Thursday, May 17 9:00 am Thursday, June 21 9:00 am Thursday, July 19 9:00 am Thursday, September 13 9:00 am Thursday, October 18 9:00 am Thursday, November 22 9:00 am Place Meetings will be held in the 2nd floor boardroom, 4330 Kingsway, Burnaby, British Columbia unless otherwise specified on the Metro Vancouver public notice board, Metro Vancouver website, and the respective agenda. 5.4 Tender/Contract Award Information - October, November and December 2012 Designated Speaker: Tracey Husoy That the Finance Committee receive the report titled Tender/Contract Award Information October, November and December 2012, dated January 22, 2013 for information. 5.5 2012 Internal Audit Plan Status Update Designated Speaker: Yvette Tecson That the Finance Committee receive the report titled 2012 Internal Audit Plan Status Update dated January 30, 2013 for information. 5.6 Manager s Report 6. INFORMATION ITEMS No items presented. 7. OTHER BUSINESS No items presented. FIN - 2

Finance Committee Regular Agenda February 15, 2013 Agenda Page 3 of 3 8. RESOLUTION TO CLOSE MEETING That the Finance Committee close its regular meeting scheduled for February 15, 2013 pursuant to the Community Charter provisions, Section 90 (1) (l) as follows: 90 (1) A part of a meeting may be closed to the public if the subject matter being considered relates to or is one or more of the following: (l) discussions with regional district officers and employees respecting regional district objectives, measures and progress reports for the purposes of preparing an annual report under section 98 [annual municipal report] of the Charter. 9. ADJOURNMENT/TERMINATION That the Finance Committee adjourn/conclude its regular meeting of February 15, 2013. FIN - 3

GREATER VANCOUVER REGIONAL DISTRICT FINANCE COMMITTEE Minutes of the Regular Meeting of the Greater Vancouver Regional District (GVRD) Finance Committee held at 9:01 a.m. on Thursday, November 22, 2012 in the 2 nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia. PRESENT: Chair, Director Richard Walton, North Vancouver District Director Malcolm Brodie, Richmond Director Lois Jackson, Delta Director Colleen Jordan, Burnaby Councillor Michael Lewis, West Vancouver Director Geoff Meggs, Vancouver Director Mae Reid, Coquitlam ABSENT: Vice Chair, Director Marvin Hunt, Surrey Director Ernie Daykin, Maple Ridge Director Jack Froese, Langley Township Councillor Brad West, Port Coquitlam OTHERS PRESENT: Director Derek Corrigan, Burnaby STAFF: Carol Mason, Commissioner/Chief Administrative Officer, Chief Administrative Officer s Department Jim Rusnak, Chief Financial Officer, Finance and Administration Department Klara Kutakova, Assistant to Regional Committees, Board Secretariat and Corporate Information Department 1. ADOPTION OF THE AGENDA 1.1 November 22, 2012 Regular Meeting Agenda It was MOVED and SECONDED That the Finance Committee adopt the agenda for its regular meeting scheduled for November 22, 2012 as circulated. CARRIED 2. ADOPTION OF THE MINUTES 2.1 October 11, 2012 Regular Meeting Minutes It was MOVED and SECONDED That the Finance Committee adopt the minutes of its regular meeting held October 11, 2012 as circulated. CARRIED Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, November 22, 2012 Page 1 of 6 FIN - 4

3. DELEGATIONS No items presented. 4. INVITED PRESENTATIONS No items presented. 5. REPORTS FROM COMMITTEE OR STAFF Agenda Order Varied The order of the agenda was varied to consider item 5.6 Procurement and Contracting Practices as the first report under section 5. Reports from Committee or Staff. 5.6 Procurement and Contracting Practices Report dated September 27, 2012 from Tracey Husoy, Purchasing and Risk Division Manager, and Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, responding to the Committee s request for a fulsome description of the policies and practices governing Metro Vancouver s procurement processes, and providing assurance as to the adequacy and appropriateness of the Committee s oversight role. Regarding the procurement and contracting practices, discussion ensued and/or concerns were expressed about the following: The reporting format Controls in place; the role of the Finance Committee and the Board Rationale, criteria, costs and value for contracting procurement of goods and services to a third party; policies applicable to the bidding process undertaken by a third party It was MOVED and SECONDED That the Finance Committee: a) refer the report dated September 27, 2012, titled Procurement and Contracting Practices and the following recommendation back to staff: That the Board reaffirm the Procurement and Contracting Policies, as outlined in the report dated September 27, 2012 titled Procurement and Contracting Practices, as being appropriate and demonstrative of good governance and oversight of Metro Vancouver s procurement processes., and b) direct staff to: 1. clarify reporting format to disclose circumstance that may lead to selection of bids that are not the lowest or exceed earlier estimates; 2. flag for the Committee instances when a third party is used to procure goods or services; and 3. develop criteria to determine value for money basis for use of outside contractors both in procurement process and provision of goods and services. CARRIED Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, November 22, 2012 Page 2 of 6 FIN - 5

Agenda Order Resumed The order of the agenda resumed with item 5.1 Updated Bank Signing Officers GVRD Bylaw No. 1180, 2012. 5.1 Updated Bank Signing Officers GVRD Bylaw No. 1180, 2012 Report dated October 1, 2012 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, seeking Board approval to update Greater Vancouver Regional District (GVRD) Bylaw No. 1180, 2012 for the removal of CIBC as the GVRD banker for the VISA credit card facility now being handled under a separate contractual arrangement. It was MOVED and SECONDED That the Board: a) introduce and give first, second and third reading to Greater Vancouver Regional District Signing Officers Bylaw No. 1180, 2012 ; and b) reconsider, pass and finally adopt Greater Vancouver Regional District Signing Officers Bylaw No. 1180, 2012. CARRIED Director Meggs absent at the vote. 5.2 Updated Bank Signing Officers GVWD Bylaw No. 245, 2012 Report dated October 1, 2012 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, seeking Board approval to update the bylaw repealing GVWD Signing Officers Bylaw, No. 197, 1989, not done with a previous update. It was MOVED and SECONDED That the Board: a) introduce and give first, second and third reading to Greater Vancouver Water District Signing Officers Bylaw No. 245, 2012 ; and b) reconsider, pass and finally adopt Greater Vancouver Water District Signing Officers Bylaw No. 245, 2012. CARRIED Director Meggs absent at the vote. 5.3 Spring MFA Borrowing for City of Port Moody GVRD Security Issuing Bylaw No. 1178, 2012 Report dated October 18, 2012 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, bringing forward a borrowing request from the City of Port Moody for the 2013 MFA spring issue. The borrowing request of $3,000,000 is for fire hall construction. It was MOVED and SECONDED a) That the GVRD Board, pursuant to Sections 182(1)(b) and 182(2)(a) of the Community Charter, give consent to the request for financing from the City of Port Moody in the amount of $3,000,000; b) That the Board introduce and give first, second and third reading to Greater Vancouver Regional District Security Issuing Bylaw Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, November 22, 2012 Page 3 of 6 FIN - 6

No. 1178, 2012 being a bylaw to authorize the entering into of an Agreement respecting financing between the Greater Vancouver Regional District and the Municipal Finance Authority of British Columbia; c) That the Board reconsider, pass and finally adopt Greater Vancouver Regional District Security Issuing Bylaw No. 1178, 2012 ; d) That the Board forward Greater Vancouver Regional District Security Issuing Bylaw No. 1178, 2012 to the Inspector of Municipalities for Certificate of Approval. CARRIED Director Meggs absent at the vote. Agenda Order Varied The order of the agenda was varied to consider item 5.7 at this point. 5.7 Tender/Contract Award Information September 2012 Report dated October 22, 2012 from Tracey Husoy, Purchasing and Risk Division Manager, Finance and Administration Department, informing about contracts with a total anticipated value at or in excess of $250,000. In response to an inquiry about a Request for Proposal No. 12-108, as outlined on page 200 of the agenda, reasons were provided for not awarding a contract to the lowest bidder. Request of Staff Staff was requested to provide in future tender/contract award reports an explanation on contracts that were not awarded to the lowest bidder. It was MOVED and SECONDED That the Finance Committee receive the report titled Tender/Contract Award Information September 2012, dated October 22, 2012 for information. CARRIED Agenda Order Varied The order of the agenda was varied to consider item 5.5 at this point. 5.5 Additional Information on the Federal Gas Tax Agreement Report dated November 16, 2012 from Jim Rusnak, Assistant Deputy Chief Administrative Officer/Chief Financial Officer, Finance and Administration Department, and Raymond Kan, Senior Regional Planner, Metropolitan Planning, Environment and Parks Department, providing additional information on the Federal Gas Tax Agreement. It was suggested that a meeting with the Minister and UBCM be sought to discuss the matter and that, once formed, the matter be also referred to the Metro Vancouver s Transportation Committee. It was MOVED and SECONDED That the Board: a) send a letter to and seek a meeting with the Minister of Community, Sport and Cultural Development and Union of British Columbia Municipalities about the importance of having Metro Vancouver at the table to discuss, Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, November 22, 2012 Page 4 of 6 FIN - 7

review, and evaluate proposals to renew the Federal Gas Tax Agreement so that future programs fit the priority needs of local governments in metropolitan Vancouver and established Board objectives, including the Integrated Air Quality and Greenhouse Gas Management Plan and the Regional Growth Strategy; and b) refer the report dated November 16, 2012, titled Additional Information on the Federal Gas Tax Agreement to the Transportation Committee once it is formed. CARRIED Agenda Order Resumed The order of the agenda resumed with item 5.4 Report of the Expert Panel on B.C. s Tax Competitiveness 5.4 Report of the Expert Panel on B.C. s Tax Competitiveness Report dated October 26, 2012 from Ann Rowan, Sustainability Strategist, Chief Administrative Officer s Department, updating the Finance Committee on the recommendations of the Expert Panel on B.C. s Business Taxation Competitiveness and providing next steps on the provincial and UBCM process. It was MOVED and SECONDED That the Finance Committee receive the report titled Report of the Expert Panel on B.C. s Tax Competitiveness, dated October 26, 2012 for information. CARRIED It was MOVED and SECONDED That the Board direct staff to share the Report of the Expert Panel on B.C. s Tax Competitiveness dated October 26, 2012 with Member Municipalities. CARRIED 5.5 Additional Information on the Federal Gas Tax Agreement The item was previously considered. 5.7 Tender/Contract Award Information September 2012 The item was previously considered. 5.6 Procurement and Contracting Practices The item was previously considered. 5.8 Manager's Report Report dated November 5, 2012 from Jim Rusnak, Assistant Deputy Chief Administrative Officer/Chief Financial Officer, Finance and Administration Department, providing an update on the following: the Committee s 2012 Work Plan; the first quarter of the Committee s 2013 Work Plan; waste-toenergy project status; TransLink s Net Debt with Municipal Finance Authority; gas tax funding to municipalities; opting out of the Gas tax Agreement, and the Regional Finance Symposium. Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, November 22, 2012 Page 5 of 6 FIN - 8

Request of Staff Staff was requested to send a reminder to municipal councils and staff about the Regional Finance Symposium. The Committee was informed that Basia Ruta was appointed the First Auditor General for local government. It was MOVED and SECONDED That the Finance Committee extend a letter to Basia Ruta, Auditor General for local government, congratulating her on the appointment and requesting her to meet with the Finance Committee. CARRIED 6. INFORMATION ITEMS 6.1 Lions Gate Secondary Wastewater Treatment Plant Project Update 6.2 Letter from City of Richmond dated October 24, 2012 re Provincial Carbon Tax Review 7. OTHER BUSINESS No items presented. 8. RESOLUTION TO CLOSE MEETING No items presented. 9. ADJOURNMENT/TERMINATION It was MOVED and SECONDED That the Finance Committee conclude its regular meeting of November 22, 2012. CARRIED (Time: 10:55 a.m.) Klara Kutakova, Assistant to Regional Committees Richard Walton, Chair Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, November 22, 2012 Page 6 of 6 FIN - 9

5.1 To: From: Finance Committee Jim Rusnak, General Manager of Finance and Housing Date: January 28, 2013 Meeting Date: February 15, 2013 Subject: 2013 Finance Committee Priorities RECOMMENDATION That the Finance Committee endorse the proposed 2013 Work Plan and the Terms of Reference as set out in the report dated January 28, 2013, titled 2013 Finance Committee Priorities. PURPOSE To provide the Finance Committee with information on its Terms of Reference, key priorities and Work Plan for 2013. BACKGROUND The Committee, at its October 2012 meeting, endorsed the programs and priorities under their purview for 2013. These programs and priorities served the basis for the 2013 Budget, approved by the Board on October 26, 2012, and were used to develop the Committee s work plan presented in the report. DISCUSSION Terms of Reference for Finance Committee The Terms of Reference for the Finance Committee are included under Attachment 1. 2013 Work Plan The Finance Committee priorities for 2013 will focus on the following key initiatives: Enhancement of Metro Vancouver s already strong financial position, through the completion of a comprehensive review of Metro Vancouver s annual budget and long range plan. In consultation with members, finalize a cost allocation formula for sewerage and drainage services across the region. Provide direction and input to the future workshops proposed in follow-up to the 2012 Regional Finance Symposium. Continue pursuit of provincial and federal government s financial participation in the WWTP Upgrade projects Provide financial oversight as the Waste-to-Energy (WTE) project evolves, pursuant to the Integrated Solid Waste Resource and Management Plan (ISWRMP) and Board direction. Provide financial oversight to the WWTP Upgrade projects. Monitor, with FCM, the Federal Government response to the long term Infrastructure Plan (LTIP). FIN - 10

Engage the Committee in the review and discussion on the longer term financial implications of Metro Vancouver programs. Ongoing stewardship of MV assets and review of financial performance. Oversight and recommend Board approval of 2014 Operating and Capital Budgets and related debt forecasts. Maintain focus on key intergovernmental financial issues. Continue strong relationship with Municipal Finance Authority. Advise the Board on Translink related financial issues. Attachment 2 provides a summary of these initiatives including outstanding items from the 2012 Work Plans, in the form of a quarterly work plan which will be used as a basis of reporting back to the Committee at each monthly meeting. It will be updated to reflect progress towards completion of the individual items, to reflect any changes in the schedule, and as needed when new items are requested by the Committee. 2013 Action Plan Key actions for 2013, as well as longer term activities related to this Committee are contained within the Regional Federation section of the Board s 2013 Action Plan. ALTERNATIVES 1. That the Committee endorse the Terms of Reference, key priorities and 2013 Work Plan as set out in this report. 2. That the Committee direct staff on changes to the Terms of Reference, key priorities or 2013 Work Plan. FINANCIAL IMPLICATIONS The presented priorities and 2013 Work Plan are consistent with those included in the 2013 Budget approved by the Board. Any changes may have budget implications. SUMMARY / CONCLUSION The focus of the Finance Committee for 2013 is as outlined in the key priorities within this report. Attachments and References: Attachment 1 Finance Committee Terms of Reference Attachment 2 Finance Committee 2013 Work Plan 6996890 FIN - 11

ATTACHMENT 1 Finance Committee Terms of Reference The Finance Committee is the standing committee of the Metro Vancouver Board which provides advice and recommendations to the Board on financial programs and issues. The Finance Committee s scope of work includes overseeing the preparation of annual budgets and long range financial plans, borrowing and investing activities, contracting policy, financial reporting and properties administration policies. The Finance Committee will have a central concern for the financial sustainability of the Metro Vancouver organization and, more broadly still, the economic and financial well being and sustainability of the regional community as a whole. The Finance Committee is the forum to which staff report on Finance programs, projects and policies. The Committee s responsibilities are: To review and monitor the annual work program for programs assigned to the committee and make recommendations to the Metro Vancouver Board, as necessary, on any changes in program scope and priorities; To consider staff reports on policies, projects and programs and make recommendations to the Metro Vancouver Board on the appropriate actions; To hear and consider public delegations on matters within the scope of the committee s purview and, where appropriate, make recommendations to the Metro Vancouver Board arising out of such delegations; To pursue matters referred to the committee by the Board and report back to the Board expeditiously, as required. In carrying out these responsibilities, the Committee may provide advice, guidance or direction to staff as to the scope and priority of work to be carried out, including new tasks to be undertaken. However, where such direction represents a sufficiently significant change in the previously approved work program, or a significant expenditure of funds, or runs contrary to the advice of professional staff, the Committee shall refer the matter to the Board, with appropriate recommendations, for decision by the Board. The Committee Chair, or in the absence of the Committee Chair, the Committee Vice-Chair will usually be the chief spokesperson on matters of public interest within the Committee s purview. Some issues may be of such public profile that it will be appropriate for the Board Chair or Vice Chair to be the chief spokesperson; on technical matters or where the status is still at the staff proposal level, the Commissioner/CAO or senior staff may be the appropriate chief spokesperson. Where necessary and practical, the Board Chair, the Committee Chair and the Commissioner/CAO (or vice-chairs and deputy) will confer to determine the most appropriate course of action. FIN - 12

The General Manager of Finance and Housing will be the committee manager. The committee manager will be responsible for coordinating agendas and be the principal point of contact for committee members. Committee Meetings The Finance Committee meets monthly, except for August and December and has special meetings as required. A quorum of 50% plus one of the Committee s members is required to conduct Committee business. Relationship with Other Board Committees Expenditures within approved budgets are the purview of the relevant standing committee, but items which entail significant changes to the approved budget should be referred to the Finance Committee for their recommendation to the Board as well as the recommendation of the originating standing committee. Similarly matters considered by the Finance Committee may have relevance for other standing committees. Matters involving Metro Vancouver s strategic relationships with other governments, agencies and communities are under the purview of the Intergovernmental and Administration Committee. While the Finance Committee will receive reports and discuss issues under its purview, the Committee Chair will keep the Intergovernmental and Administration Committee apprised of any intergovernmental implications arising from such reports and discussions. The committee manager will attempt to keep the committee apprised of significant reports with inter-committee implications. Committee Membership The Chair, Vice Chair, and members are appointed annually by the Chair of the Metro Vancouver Board of Directors. FIN - 13

Finance Committee 2013 Work Plan ATTACHMENT 2 1 st Quarter Lions Gate Waste Water Treatment Plant (LGWWTP) project update for Q1 Waste to Energy (WTE) project update for Q1 MFA Annual meeting and election of Metro Vancouver trustees Presentations to MFA Ratings Agencies and/or investment syndicate Approve 2012 Risk Advisory and Audit Services work plan for 2013 Report on Power Generation at Capilano and Seymour Dams Discussion regarding 2014 Budget Process Report on Metro Vancouver Procurement and Contracting Policies and procedures Report on Metro Vancouver Sustainability Reserves 2 nd Quarter Review and recommend approval of audited 2010 Financial Statements, Audit Report and associated information, in compliance with new Public Sector Accounting Board (PSAB) 3150 standards Review of 2012 Year-end Operational Reports Lions Gate Waste Water Treatment Plant (LGWWTP) project update for Q2 WTE project update for Q2 Endorse an updated, 2012 version of Building Sustainable Financial Strategies report, and continue to use it as a focal point for discussion on financial sustainability for the region First reporting on 2013 Operating Results and Projections Pre-budget Board Workshop RAAC to report back to Finance Committee/Utilities Committee/Board, with recommendations relating to the GVS&DD cost allocation model 3 rd Quarter Participate in a thorough review of Metro Vancouver s 10 year capital plan (Long Range Plan), and associated debt position, in advance of 2014 Budget approval Board pre-budget Workshop (July) (Sub-regional Council of Councils) Recommendation of Five Year Financial Framework (5 Year Budget Projections) Lions Gate Waste Water Treatment Plant (LGWWTP) project update for Q3 WTE project update for Q3 Update on Development Cost Charge Review Consider a rate smoothing strategy for GVS&DD major projects Update on Asset Management strategy 4 th Quarter Endorsement of Committee 2014 Programs and Priorities Review of 2014 Metro Vancouver budgets, and endorsement of same to Board Budget Workshop Lions Gate Waste Water Treatment Plant (LGWWTP) project update for Q4 WTE project update for Q4 FIN - 14

5.2 To: From: Finance Committee Jim Rusnak, General Manager of Finance and Housing Heather Schoemaker, Director of Communications and External Relations Date: January 18, 2013 Meeting dates: February 15, 2013 Subject: Regional Finance Symposium Update RECOMMENDATION That the Board direct staff to follow up on actions arising from the 2012 Regional Finance Symposium including hosting a series of targeted workshops on shared service delivery, funding models for core service delivery, and large infrastructure development, as outlined in the report. PURPOSE To provide the Finance Committees with an update on the delivery and outcomes of the Regional Finance Symposium hosted by Metro Vancouver on November 28, 2012. BACKGROUND The convening of a "symposium involving high-level financial experts from the private and public sectors...to discuss future scenarios, opportunities and challenges" was included under goal 2 in the finance section of Metro Vancouver's 2012 Action Plan. In response to that objective, and with the input and support of the Regional Administrative Advisory Committee, Metro Vancouver hosted its first-ever regional Finance Symposium on Wednesday, November 28 2012 at the Metrotown Hilton Hotel in Burnaby (Attachment 1). DISCUSSION The intent of the Regional Finance Symposium (RFS) was to bring together elected officials and senior staff (City Managers/CAOs, CFOs, Directors of Finance) from Metro Vancouver s member municipalities, plus invited guests from external agencies, business and interested members of the general public, to discuss mutual issues of concern as they relate to the prudent and efficient management of local government finances. The desired outcomes of the symposium included: Expansion of a region-wide dialogue on the development of sustainable financial strategies for local governments in Metro Vancouver; Increased understanding of the specific role that regional governments and municipalities play in providing affordable and efficient public utilities and other services to residents of the Metro Vancouver region; Enhanced awareness of the need for local governments in the Metro Vancouver region to work together in providing affordable and efficient public utilities and other services to residents of the region. FIN - 15

Engaging an audience of 122, with another 141 live stream participants, the RFS was moderated by Dr. Michael Goldberg, Professor and Dean Emeritus and UBC's Sauder School of Business and Scholar in Residence with Asia Pacific Foundation of Canada. The program featured a keynote presentation by Gord Hume, former Councillor with the City of London (Ontario) and one of Canada s leading voices on municipal government and creative cities; a panel of professionals from both the private and public sectors that responded to Mr. Hume's presentation; a special presentation by the Federation of Canadian Municipalities and the Union of BC Municipalities on current local government efforts to secure a long-term national infrastructure plan; and two afternoon panels that provided expert insights into innovative ideas for both increasing revenues and reducing costs for local governments in BC. A key feature of the RFS was the engagement of symposium attendees in small group/table discussions immediately following the keynote responding panel. Table facilitators - including a number of Metro Vancouver Directors - led participants in a group discussion centered on two questions: "What steps has your municipality already taken to respond to the financial challenges facing local governments?" And "What steps could be taken in the future to respond to the growing challenge local governments are facing in meeting increasing expectations and ensuring the delivery of high quality, affordable services?" Each table was tasked with submitting one key idea per question, and these were subsequently included in a summary report (Attachment 2). Staff subject matter experts and the session moderator assessed these submissions and categorized them into five broad areas for action: Plan (properly manage assets on a long-term basis) Prioritize (manage citizens' expectations) Communicate (build the case, and explain it) Collaborate (enhance efficiencies, and develop partnerships whenever possible) Innovate (continue the conversation related to financial challenges) The five areas for action were presented to the audience during lunch. Post-event, participants were invited to provide both qualitative and quantitative feedback on the symposium via an online survey, and the results are encouraging; overall, the 6 session components that Metro Vancouver asked participants to rate (on a scale of 1 to 5) scored an aggregate score of 3.98. Individual component scores ranged from 4.4 for the small group discussions, to 3.45 for the second part of the delivering services panel in the afternoon. Participant s comments about the event were also generally positive, as captured by this attendee: Very well organized. Great discussion with other participants. Good way to move forward to try to achieve better communities for us and our children. Some participants expressed frustration at not seeing tangible results from events like the Regional Finance Symposium, while others stressed that more fully engaging the general public should be the focus when discussing local government finances. In the days immediately following the symposium, Metro Vancouver staff further analyzed the small group submissions and developed a draft set of next steps intended to capitalize on the Symposium s momentum, and initiate follow-up activities. The proposed set of activities consists of a series of three public workshops, targeted to senior staff and elected officials within Metro Vancouver Member Municipalities that would drill down into case studies/best practices in three broad topic areas: 6978071 FIN - 16

1. Shared service delivery exploring opportunities for partnering/collaborating with other governments/agencies on the delivery of services; 2. Funding models for core service delivery enhancing municipalities ability to secure greater financial support from other orders of government for community services and infrastructure; 3. Large infrastructure development identifying finance and partnership models (including P3s) that may assist in long-term infrastructure delivery. ALTERNATIVES 1. Direct staff to follow up on actions arising from the 2012 Regional Finance Symposium including hosting a series of targeted workshops on shared service delivery; funding models for core service delivery; and large infrastructure development; 2. Receive this report for information and take no further action at this time. FINANCIAL IMPLICATIONS The Regional Finance Symposium incurred total incremental costs of $30,915.34, which includes catering charges, venue rental, audio-visual consulting and fees for both the moderator and keynote speaker; this figure does not include staff time. Assuming a participation of approximately 50-60 invitees at each session, estimated costs for hosting the three proposed workshops total $12,000 (which comprises venue rental, catering, and audio-visual fees). OTHER IMPLICATIONS The Regional Finance Symposium was intended in part to begin an in-depth and ongoing discussion on strategies for local governments to implement sustainable and long-term finance plans that contribute to the affordability of the region; as such, there may be future opportunities for Metro Vancouver to convene stakeholders on the continuation of that discussion, and/or participate in the development of further initiatives that will help local governments maximize the efficiency of their operations. Further, the Metro Vancouver 2013 Action Plan recently approved by the Board includes under the goal, Ensure the long-term financial sustainability of the Metro Vancouver Districts a key action item that calls for the completion of a comprehensive review of the Metro Vancouver Annual Budget and Five Year Financial Plan. The outcomes from the November 28 RFS and the ongoing discussions that will take place as a result of the Symposium will certainly help inform that review, and represent a key point of contact with both the residents of the region and Member Municipalities for assessing the effectiveness and efficiency of Metro Vancouver s financial management systems. SUMMARY / CONCLUSION A key objective of the Regional Finance Symposium was to engage the region in a discussion on the role of local governments in advancing the affordability of the Metro Vancouver region. A collaborative effort engaging Metro Vancouver staff, the Regional Administrative Advisory Committee and members and the Finance Committee ensured a dynamic and engaging symposium that met and exceeded expectations. Resulting from the symposium is a set of broad actions plan, 6978071 FIN - 17

prioritize, communicate, collaborate, innovate that have helped to identify opportunities to continue the discussion and enhance engagement and collaboration between Metro Vancouver and Member Municipalities on important issues such as shared service delivery, funding models for core service delivery, and large infrastructure development. Attachments and References: 1. Regional Finance Symposium - final program 2. Small Group Discussions 3. Regional Finance Symposium Website - http://www.metrovancouver.org/rfs/pages/default.aspx 6978071 FIN - 18

8:40 am reached a tipping point? What alternatives and trade-o ifs are we willing to consider? How can we ensure the 7:30am improve efficiencies, adhere to a growing number of regulations, and ensure accountability, they face significant cumulative costs of delivering the services and infrastructure citizens expect does not unintentionally undermine the affordability of the region? Join us to discuss the challenge local governments and other public agencies are r im./bjectives: facing to deliver services and infrastructure at a level and a cost that meet the expectations of residents now and into the future. expectations. In an era of constrained revenues and growing concern regarding regional affordability, have we financial challenges as they try to navigate how best to deliver a growing suite of services to residents and manage capital and infrastructure investment all of which comes at a cost. While local governments continually strive to life residents have grown to expect demands ever-increasing levels of service and amenity provision and significant for its livability, natural beauty and pursuit of a sustainable future. Yet, the pressure to compete in a global economy and maintain the quality of By most accounts the Metro Vancouver region is in an enviable position renowned, jncnuver?onal 1ai - ivr,t;u1 oi -r 3 ) 12 - urnoi troro,-jn. ametrovancouver property tax system, the urgent need to invest in infrastructure, the growing economic impact of that will attract top talent and businesses. cities in Asia and around the globe, and the need to develop creative, sustainable communities Hume tackles this tough question, and explores key issues facing our communities the broken burdened with a 17th century tax system and a 19th century governance structure? Keynote Gord How do we build vibrant, prosperous cities for the 21st century when Canadian communities are Mayor, District of North Vancouver Gord Hume, Author Taking Back Our Cities and one of Canada s leading voices on municipal Introductions by Richard Walton, Chair, Metro Vancouver Finance Committee and government, cultural planning, and creative cities. Taking Back Our Cities Local Government Financing in the 21st Century Greg Moore, Chair, Metro Vancouver and Mayor, City of Port Coquitlam 8:30 am J-iccr a c. : <. University of British Columbia (UBC) Moderator: Dr. Michael Goldberg, Professor and Dean Emeritus, Sauder School of Business, and the broader public can collaborate on the affordable and efficient provision of services and infrastructure. quasi-government agencies (e.g., TransLink, Partnerships BC, BC Housing), the private sector To enhance awareness of how all levels of government (local, provincial, federal), other sustainable financial strategies for local governments in Metro Vancouver. To provide participants with an opportunity to debate, discuss, and better understand concerns about rising costs and regional affordability. infrastructure that enhance regional prosperity and sustainability, with the need to address To better understand how local governments can balance the need to provide services and FIN - 19

9:15 am ci icj i In this moderated discussion panelists will be challenged to respond to three key questions posed by keynote Gord Hume, discussing what is at the core of the municipal finance challenge and how to move forward from here. 10:15 am Jock Finlayson, Vice-President and Chief Economist, BC Business Council Casey Vander Ploeg, Senior Policy Analyst, Canada West Foundation Robin Stringer; Chief Administrative Officer, Municipal Finance Authority of BC Michael Smith, Director, Metro Vancouver and Mayor, District of West Vancouver Malcolm Brodie, Director; Metro Vancouver and Mayor, City of Richmond 10:30 11:20 am Ln Grou )i-js Prioritizing and Addressing Challenges Participants will be asked to explore the challenges, opportunities and strategies put forth by the keynote and responding panel. Table discussions will focus on identifying what steps local municipalities are currently taking, and what steps could be taken in the future, to respond to the growing challenge of local governments who aim to meet increasing expectations while ensuring the delivery of high quality, affordable services. Ernie Daykin, Member of Metro Vancouver Finance Committee and Mayor, District of Maple Ridge Michael Lewis, Member of Metro Vancouver Finance Committee and Councillor; District of West Vancouver Mae Reid, Member of Metro Vancouver Finance Committee and Councillor, City of Coquitlam Jack Froese, Member of Metro Vancouver Finance Committee and Mayor; Township of Langley Colleen Jordan, Member of Metro Vancouver Finance Committee and Councillor, City of Burnaby 11:20 12:15 pm l2:15 1:OOpm The State of Canada s Cities and Communities 2012 Mike Buda, Director; Policy and Research, Federation of Canadian Municipalities (FCM) Mr. Buda will provide a national overview of the challenges facing municipalities, including the current status of the federal government s commitment to develop a long-term infrastructure plan for 2014 and an overview of the findings of FCM s 2012 Report on the State of Canada s Cities and Communities. Financing Local Government Greg Moore, Member; UBCM Select Committee on Local Government Finance and Mayor; City of Port Coquitlam Mary Sjostrom, President of Union of British Columbia Municipalities (UBCM) and Mayor; City of Quesnel Mayor Greg Moore and Mayor Mary Sjostrom will examine facts and myths about property taxation and discuss upcoming work at UBCM around financing local governments. Introductions by Raymond Louie, Vice Chair, Metro Vancouver Board and Councillor, City of Vancouver Includes report out on small group discussion by Moderator Michael Goldberg at approximately 12:50 pm. FIN - 20

But is it all about costs and revenues? These panels will blend practical suggestions for moving forward with big, bold and long-term perspectives on what change is needed to innovate, survive and thrive in a new environment. 1:00pm develop differently to realize cost savings. agencies can deliver services and infrastructure for a prosperous region now and into the future. From costs to revenues and everything in between, panelists will offer new perspectives, solutions, tools and approaches to address how local governments and other public sector This panel will take a closer look at costs - balancing value, quality, and expectations and identifying where and how it may make sense to streamline, standardize, manage, plan or Norm Shearing, President, NSA Ltd, Property and Development Consultants Cam Matheson, Vice-President, T&D Asset Investment Management, BC Hydro Alastair Nimmons, Partner, KPMG Management Consulting Derek Corrigan, Director, Metro Vancouver and Mayor, City of Burnaby 2:00 pm 2:15 pm ri :src r i : This panel will take a closer look at revenues - identifying financial tools, sources and fund long-term service and infrastructure delivery.. from user fees, to tax tools, to cost centers Trent Berry, Partner Compass Resource Management Ltd. Donald Lidstone, Q.C., Lidstone and Company lan Jarvis, Chief Executive OfFicer Translink Richard Walton, Chair Metro Vancouver Finance Committee and Mayor, District of North Vancouver 3:15 pm r p ;jp ru Dr. Michael Goldberg, Professor and Dean Emeritus, Sauder School of Business, UBC 3:25 pm Greg Moore, Chair, Metro Vancouver and Mayor, City of Port Coquitlam 3:30 pm :yrc:i1 FIN - 21 turned revenue generators. management approaches that will enable local governments and other public sector agencies to

1 What steps has your municipality already taken to respond to the financial challenges What steps could be taken in the future to respond to the growing challenge local Use long-range asset management planning (e.g. 20 years) to develop utility fee schedule and use both to meet your corporate goals. most efficient use of your existing resources. A number of municipalities are looking at a full cost infrastructure review including District of North Vancouver a new theatre). facing local governments? costs, core services review etc. Long-term plans for obtaining grants. Community are transcribed below, and are organized into five key themes identified by staff subject Long-range asset management The small groups submitted one key idea per question to a summary report. These key ideas 1. Plan matter experts: Plan, Prioritize, Communicate, Collaborate and Innovate. Question 1 Question 2 The morning Small Group Discussion posed two questions to participants: high quality, affordable services? Plans with public consultation, taking inventory of assets and future maintenance Small Group Discussion governments are facing in meeting increasing expectations and ensuring the delivery of contributions to leverage existing dollars (e.g. charitable foundations contributions to Ideas financial symposium to discuss issues in financing Optimize use of underutilized municipal projects (e.g. Surrey). Careful long-term planning processes such as the development of Official Community Knowing what you have (inventory of infrastructure) so you can prioritize and make Key Regional Finance Symposium Metro Vancouver infrastructure and services. Tolling of Golden Ears Bridge (used user pay ), involving held putting dollars into asset renewal reserves. FIN - 22

old expenses. Charges, federal grants) and find ways to incentivize politicians to give more priority to old (operating, maintenance, fix-up) versus new projects (e.g. Development Cost Maintain value of existing infrastructure. Allow more funding sources to be spent on FIN - 23 2 water main, then upgrade the sewer main and repave the road at the same time) so that we don t go back to the same streets over and over again. Communicate to the Improve efficiencies by sharing services within the region and neighbouring cities (e.g. Undertake infrastructure renewal in an integrated approach (e.g. if you upgrade a services city is good at. recycling, emergency services) plus gain revenue by taking in business (revenue) for Buck stretchers ; benefit from: partnerships, efficiencies and cost share grants. Efficiency and power in integration and partnerships 4. Collaborate Have key performance indicators. Link expenditures to tax and communicate. Financial transparency. E.g., show which projects funded, on the go and remaining. nice to haves. current services before asking for more money. Define core services as opposed to Need to communicate openly and transparently the effective and efficient delivery of taxpayers. worth. financially strong municipalities. The case must include a value proposition regarding Earmarking tie Build the case to the province as to why it s in their best interest to have healthy, tax money to explicit funding and communicate this well to Build and explain the case 3. Communicate including sales tax and user fees. long-term: solidify the project list and then prioritize. Broad range of revenue sources referendums in decision-making. Tie list to funding for the short-term, midterm & existing taxation base. Focus municipalities resources on priorities. Municipalities need to begin to manage expectations to lessen the burden on the Solidify project list in infrastructure planning and use to reach consensus. Include Manage citizen expectations 2. Prioritize education and innovation. Know your costs, identify your goals, implement through, community engagement, for bridge. municipalities (Langley, Maple Ridge, Pitt Meadows & Surrey> agreeing to toll to pay

citizens more effectively the rationale for the infrastructure renewal and its cost implication and benefits. Finding the right groupies to benefit from: joint services, group purchasing and amalgamation. Pursue more opportunities for collaboration and cost sharing of fully costed services (assets and operating) between municipalities. Collaboration and partnerships with public and private agencies and not just P3. 5. Innovate Continue the financial challenge conversation Examine the property transfer tax percentage for local government to cover development costs. Look for other sources of funding (other than just property tax) that have no strings attached (i.e., municipalities can spend how they want) linked tightly with engaging community to better understand and support the value of services. Alternate revenues to property tax be entrepreneurial. 3 FIN - 24

5.3 To: From: Finance Committee Paulette Vetleson, Director of Board and Information Services Date: January 17, 2013 Meeting date: February 15, 2013 Subject: 2013 Finance Committee Meeting Dates RECOMMENDATION That the Finance Committee establish the day, hour and place for its 2013 regular meetings as follows: Day and Hour Thursday, February 15 Thursday, March 8 Thursday, April 19 Thursday, May 17 Thursday, June 21 Thursday, July 19 Thursday, September 13 Thursday, October 18 Thursday, November 22 9:00 am 9:00 am 9:00 am 9:00 am 9:00 am 9:00 am 9:00 am 9:00 am 9:00 am Place Meetings will be held in the 2nd floor boardroom, 4330 Kingsway, Burnaby, British Columbia unless otherwise specified on the Metro Vancouver public notice board, Metro Vancouver website, and the respective agenda. PURPOSE To establish the day, hour and place of committee meetings. BACKGROUND / DISCUSSION The Procedure Bylaw requires the board and committees to decide from time to time by resolution the day, hour and place its regular meetings will be held. The schedule of board and committee meetings is planned to reduce conflicts with other meetings and events. On a monthly basis it provides for 2 board, 11 standing committee, 2 subcommittee, and 4 advisory committee meetings, as well as statutory holidays, conferences for elected officials, and spring break. ALTERNATIVES 1. That the committee meeting dates be approved as presented. 2. That the committee meeting dates be approved as amended by the committee. FIN - 25

FINANCIAL IMPLICATIONS No financial implications are presented. SUMMARY / CONCLUSION The Committee will have met the requirements of the board Procedure Bylaw by establishing the day, hour and place of its regular meetings. The information will be published on the Metro Vancouver website. As such the public will be aware of the regular meetings and can plan to attend such meetings. Staff recommends Alternative 1. 6951609 FIN - 26

5.4 To: From: Finance Committee Tracey Husoy, Purchasing and Risk Division Manager of Finance and Housing Date: January 22, 2013 Meeting date: February 15, 2013 Subject: Tender/Contract Award Information October, November and December 2012 RECOMMENDATION That the Finance Committee receive the report titled Tender/Contract Award Information October, November and December 2012, dated January 22, 2013 for information. PURPOSE To provide the Finance Committee information with regards to contracts, handled through the Purchasing Division, with a total anticipated value at or in excess of $250,000.00. BACKGROUND In accordance with the Officers and Delegation Bylaw and Contracting Policy, as approved by the Board of Directors, contracts in excess of $250,000 must be executed by the Chief Administrative Officer, the Deputy Chief Administrative Officer or the Treasurer and within the Board approved budgets. In addition, when a contract is awarded as a result of a tender the contract shall be awarded to the lowest compliant bidder and if the result of a request for proposal the contract shall be awarded to the highest ranked proponent. Further, corporate policies dictate that all contracts in excess of $250,000 must be reported to the Finance Committee. DISCUSSION Capital projects often result in several contracts, however, for the purpose of this report each contract is reported on its own merits. Some contracts include multiple phases of work whereby subsequent phases of the work cannot be adequately defined until previous phases of the work are complete. In other instances a contract may include options to extend the quantity or contract term as an incentive for good value and to leverage volume. In all of these instances the total anticipated value of the contract is recorded for the purpose of this report. Having already been reported as the total anticipated value of the contract when/if subsequent phases of the work or the extension options are awarded those amendments are not reported. FIN - 27