REQUEST FOR DECISION
DATE: April 30, 2018 Report No. FIN-18-009
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
2017 Statement of Financial Information
End
RECOMMENDATION:
Recommendation
That Council approve and receive the 2017 Statement of Financial Information attached to Staff Report FIN-18-009
Body
RELEVANT POLICY:
Financial Information Act s2
STRATEGIC RELEVANCE:
This decision does not relate to any specific strategic priority or objective.
BACKGROUND:
Under the provisions of the Financial Information Act, the Township is required to prepare a Statement of Financial Information (“SOFI”) within six months after the end of its fiscal year and make it available to the public. This Statement must contain schedules showing:
i) employees which earned more than $75,000, the total remuneration paid to the employee and the total amount paid for employee expenses;
ii) a consolidated total of remuneration paid to all other employees;
iii) the total amount paid to each supplier of goods and services during the fiscal year that is greater than $25,000; and
iv) a consolidated total of all other payments made to suppliers for goods and services during the fiscal year.
ISSUES:
1. Rationale for Selected Option
The Financial Information Act specifies the form and content of the SOFI document and requires that it be approved annually by Council and the officer assigned responsibility for financial administration under the Local Government Act.
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.
5. Communication & Engagement
The draft version of the 2017 SOFI was made available for viewing by the public on April 27, 2018. In addition to having a manual copy available at the Municipal Hall, once approved, this document will be added to the Township’s website for those wishing to access the document electronically.
ALTERNATIVES:
1. That Council approve and receive the 2017 Statement of Financial Information attached to Staff Report FIN-18-009.
2. That Council not approve the 2017 Statement of Financial Information.