Finance & Audit Committee

The Finance Committee has been combined with the Audit Committee, and now forms the Finance and Audit Committee.


The Finance and Audit Committee (the Committee) is a Standing Committee of Council. The purpose of the Committee is to provide financial, risk management, and audit oversight of District financial operations and provide a forum for discussion of District financial issues.


The Committee will:

  • participate in and review the process for the creation of the District’s Five-Year Financial Plan
  • ensure the alignment of the Five-Year Financial Plan with the District’s Strategic Plan Goals and Objectives
  • review the financial risk management framework
  • oversee District reserve funds, including the Endowment Fund
  • oversee the District’s investment program and performance
  • review and make recommendations to Council regarding financial policy
  • review and make recommendations to Council on fees, charges, and necessary changes to strategic direction
  • review and recommend for approval the annual consolidated financial statements
  • review the financial implications of outstanding litigation
  • consider any other matters referred to the Finance and Audit Committee by Council

The external auditor is accountable to Council and the Committee. The Committee will:

  • review the appointment of the external auditor; assessing performance and recommending appointment or re-appointment of the external auditor
  • receive assurance from the external auditor on the independence of the external auditor
  • review the plans and conduct of the annual external audit
  • review the external auditor’s Audit Report and Management Letter, review management’s response and subsequent follow-up on any matters raised by the external auditors.


The Committee shall comprise seven voting members consisting of six Council members and the Mayor as the Chairperson. A quorum shall be four members of the Committee.


Mayor Sager (Chair), Councillor Cassidy, Councillor Gambioli, Councillor Lambur, Councillor Snider, Councillor Thompson, and Councillor Watt

Staff Liaison

Lesley Taylor, Committee Clerk



Terms of Reference

Next Meeting

Finance and Audit Committee

Date: Monday, December 5
Time: 1 p.m.
Location: In-person meeting in the Council Chamber, Municipal Hall


Public participation instructions

If you are interested in participating in this committee meeting, review instructions for public participation in committee meetings.

2022 meetings

Finance and Audit Committee 

Jan. 20 Cancelled  
Jan. 24 Agenda Minutes
Feb. 14 Agenda Minutes
March 14 Agenda Minutes
May 9 Agenda Minutes
June 20 Agenda Minutes
Sep. 12 Agenda Minutes
Nov. 14 Agenda  
Dec. 5 Agenda  

2021 meetings

Audit Committee

May 10 Notice Minutes

Finance Committee 

Feb. 17

Notice Minutes
March 17 Notice Minutes
June 15 Cancelled  
June 18 Notice Minutes

Finance and Audit Committee

July 26



Sep. 29 Notice Minutes
Sep. 30 Cancelled  
Oct. 27 Notice Minutes
Nov. 1 Notice Minutes
Nov. 18 Notice Minutes
Dec. 6 Notice Minutes