Title
Rescinding of Financial Services Policies
Proposed Motion(s)
That Policies FI-002 Revolving Infrastructure Fund, FI 003 Replacement of Equipment, FI 006 Mobile Tax Billing and Collections, FI-007 Building Parkland Fund, FI 010 Accounts Receivable Collection, FI 013 Extending Credit to Customers, and FI-011 Capital Policy be rescinded.
Body
Administration Recommendation(s)
Administration supports the recommendation.
Purpose
The rescinding of policies requires Council's approval. The presented policies are no longer required or will be replaced with administrative directives and procedures.
Summary
Administration continues its corporate review of Council policies to ensure that they are accurate and relevant. The policies presented to Council are recommended for rescinding for the following reasons:
FI-002 Revolving Infrastructure Fund requires rescinding because it was replaced with Building Parkland Fund Policy FI-007 and Administration inadvertently missed rescinding the policy at that time.
FI 003 Replacement of Equipment requires rescinding because it is covered off in the Restricted Surplus Policy FI-05.
FI 006 Mobile Tax Billing and Collections may be rescinded because it is not required. Tax recovery provisions are provided in the Municipal Government Act, therefore a policy is not required to provide for authority regarding tax billing and collections.
FI-007 Building Parkland Fund policy was concluded June 30, 2015, therefore it is recommended that this policy be rescinded.
FI 010 Accounts Receivable Collection requires rescinding because it is operational and was replaced with Accounts Receivable Management Directive A-FI10.
FI 013 Extending Credit to Customers may be rescinded because it is not required.
FI-011 Capital Policy requires rescinding because it is administrative, and accounting standards regarding capital assets are governed by the Public Sector Accounting Board.
Strategic Plan/Policy/Legal/Staff Implications
Policy ...
Click here for full text