Meeting Name: Finance and Corporate Services Committee Agenda status: Final
Meeting date/time: 11/16/2021 6:00 PM Minutes status: Final  
Meeting location: Council Chambers/Virtual
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video:  
Attachments:
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TMP-28112 3  Presentation - AC/RCPRESENTATION CONCERNING DELOITTE 2021 AUDIT SERVICE PLAN Pina Colavecchia, Partner of Deloitte LLP provided an overview on the scope, strategies and their approach to the 2021 Audit Service Plan for the year ending December 31, 2021. Ms. Colavecchia discussed slides concerning the following topics: · The 2021 audit scope and terms of engagement associated with the City and the Service Partners Financial Statements for the year ending December 31, 2021; · Identification of any significant events, materiality, and audit risks; · The development of an audit strategy to address fraud risks, use of specialists, audit fees, and complete engagement reporting; · Deloitte’s Next Normal using Spotlight’s data analytics capabilities and a centralized collaboration portal; · Audit risks related to revenue recognition, management override of controls, and audit responses; · Appendix 1, the audit approach associated with planning, assessing and executing the Audit Plan; · Appendix 2, the communication requirements according to the Canadian Auditing Standards (CAS); · Appendix 3, the new aReceived  Action details Not available
TMP-28145 3  Presentation - AC/RCPRESENTATION CONCERNING THE SMALL BUSINESS PROPERTY TAX SUBCLASS (SBTC) (Note: Report to Committee, Item 6.1) Grace Marsh, Acting Manager of Revenue and Taxation provided a presentation concerning the Small Business Property Tax Subclass (SBTC). Ms. Marsh discussed slides concerning the following topics: · The key information associated to defining, the benefits and the impacts for a small business class property owners; · The 2021 taxation policy changes and benefits; · A report entitled “Ontario’s Small Business Property Sub Class: Considerations for Municipalities” released September, 2021; · Small business considerations associated policy drivers, targets, defining the small business, tax impacts and funding, consultation and administrative processes and by-laws; · Charts illustrating City wide all class funding and funded within class analysis for 2022; · The pros and cons of a City Wide Program; · Charts illustrating the Downtown Barrie Improvement Area (DBIA) all class funding and funded within class analysis for 2022; · The pros and cons of a DBIA Program; and · GeneraReceived  Action details Not available
21-G-273 2  RecommendationSMALL BUSINESS PROPERTY TAX SUBCLASS That the Report to the Finance and Corporate Services Committee dated November 16, 2021 concerning the Small Business Property Tax Subclass, be received for information purposes.recommended for adoption  Action details Not available
TMP-28151 2  Advisory Committee Reports - RCREPORT OF THE SENIORS ADVISORY COMMITTEE DATED OCTOBER 25, 2021. The Report of the Seniors Advisory Committee dated October 25, 2021, was received.Received  Action details Not available
TMP-28152 2  Advisory Committee Reports - RCREPORT OF THE TOWN AND GOWN COMMITTEE DATED OCTOBER 27, 2021 The Report of the Town and Gown Committee dated October 27, 2021, was received.Received  Action details Not available
TMP-28153 2  Advisory Committee Reports - RCREPORT OF THE INTERNATIONAL RELATIONS COMMITTEE DATED NOVEMBER 2, 2021 The Report of the International Relations Committee dated November 2, 2021, was received.Received  Action details Not available
21-G-274 2  RecommendationCOUNTY OF SIMCOE CAPITAL CONTRIBUTIONS That the Report to the Finance and Corporate Services Committee dated November 16, 2021 concerning the County of Simcoe Capital Contributions, be received for information purposes.recommended for adoption  Action details Not available