PERIOD REPORT
DATE: May 26, 2025 Report No. FIN-25-007
TO: Dan Horan, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services & IT
SUBJECT:TITLE Financial Services and IT Departments - 2025 First Period Report
Body
The following is a report on the activities pertaining to the Financial Services and IT Departments from January 1, 2025 to April 30, 2025.
I. DIVISION ACHIEVEMENTS AND ACTIVITIES
1. Budgeting, Financial Reporting and Accounting
• Executed the various components of the annual financial plan and tax rate process utilizing an amended timeline and meeting schedule. This involved: (i) a budget presentation to provide an overview and to outline the various costs driving the initial increase; (ii) a long-term capital program presentation; (iii) the creation of a draft financial plan based on departmental submissions and Council direction; and (iii) the development and presentation of tax rate scenarios and their impact based on the various discussions and Council direction.
• Prepared documentation, year end reconciliations and draft financial statements to facilitate the annual audit required by legislation.
• Reviewed financial information and the proposed annual budget related to the library strata building in preparation for the annual general meeting.
2. Risk Management
• The Township signed an agreement with the Municipal Insurance Association for them to provide property insurance coverage for a three year term starting in 2025. In addition to achieving annual cost savings, this move consolidates the Township’s property insurance and liability coverage under a single provider.
3. Information Technology
• During the period, the Township’s Manager of Information Technology resigned his position to accept another opportunity. After a two-month vacancy, a new Manager was hired with a start date in early May.
• Department staff successfully closed a total of 485 internal staff support calls during the period. This figure is relatively similar to the first period in 2024 and is 6% lower than the last reporting period.
II. COMMITTEES
• The Local Grant Committee met in January to review various new grant applications. Based on the Committee’s funding recommendations, payments were issued, and the remaining account balance was transferred to surplus within the 2025-2029 Financial Plan.