REQUEST FOR DECISION
DATE: May 9, 2019 Report No. FIN-19-007
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
2018 Statement of Financial Information
End
RECOMMENDATION:
Recommendation
That Council receive and approve the 2018 Statement of Financial Information attached to Staff Report FIN-19-007.
Body
RELEVANT POLICY:
Financial Information Act
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) the employees which earned more than $75,000, including the total remuneration and employee expenses paid to each of these employees;
ii) a consolidated total of remuneration paid to all other employees which did not meet the $75,000 threshold;
iii) suppliers of goods and services which received total payments of $25,000 or more during the fiscal year; 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. It also 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 2018 SOFI document was made available for viewing by the public on May 9, 2019. 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 receive and approve the 2018 Statement of Financial Information attached to Staff Report FIN-19-007.
2. That Council not approve the 2018 Statement of Financial Information and request further information from staff.