REQUEST FOR DECISION
DATE: June 19, 2023 Report No. FIN-23-008
TO: Dan Horan, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
2022 Statement of Financial Information
End
RECOMMENDATION:
Recommendation
That Council approve the 2022 Statement of Financial Information as attached to Staff Report FIN-23-008
Body
RELEVANT POLICY:
Financial Information Act
STRATEGIC RELEVANCE:
Good Governance
BACKGROUND:
Under the provisions of the Financial Information Act, the Township is required to prepare a Statement of Financial Information ("SOFI") within six months of
the fiscal year end and make it available for public viewing. The Statement must contain, either through reference to the audited financial statements or through a separate schedule, the following information:
- remuneration and expenses for each elected member of Council;
- employees with remuneration exceeding $75,000, plus their expenses as well as a consolidated total for all employees below the $75,000 threshold;
- long term debt held by the Township;
- any severance agreements entered into during the fiscal year;
- payment of grants or contributions made by the Township;
- suppliers receiving aggregated payments exceeding $25,000 as well as a consolidated total of all supplier payments of $25,000 or less; and
- any guarantee or indemnity agreements in place.
ISSUES:
1. Rationale for Selected Option
The Financial Information Act specifies the form and content of the Statement of Financial Information. It also requires that the Statement be approved annually by Council and the officer assigned responsibility for financial administration.
2. Organizational Implications
There are no organizational implications of this decision.
3. Financial Implications
There are no financial implications of this decision.
4. Sustainability & Environmental Implications
There are no sustainability or environmental implications of this decision.
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