Section 141 of the Community Charter provides that the Mayor may establish Standing Committees of Council for matters considered to be better dealt with by Committee and may appoint persons to those Committees. In addition to Council-in-Committee, the Mayor has established a Finance Standing Committee and Strategic Priorities Standing Committee to address high-level strategic budget and policy decisions. The Mayor serves as Chair of both Committees, and the current Acting Mayor (according to the approved schedule) serves as Vice-Chair.
Decisions made in Standing Committee meetings that require Council approval are normally ratified at the next Regular Council Meeting.
Comprised of all members of Council, this Committee serves as the City’s audit Committee and provides a forum for informal discussion of issues related to the City’s financial and other corporate functions.
The Committee’s mandate includes, but is not limited to:
The annual municipal budget, both operating and capital expenditures
The Five-Year Capital Expenditure Program and Long-Term Capital Expenditures
The disposition of surplus funds
Annual municipal grant requests
Permissive tax exemptions
Major non-budgeted expenditure requests
Any financial policy reviews
External and internal audit reports
Exempt staff compensation budgets
Proposed financial mandates for CUPE and IAFF bargaining