City of Waterloo council Finance & Strategic Planning
The council summary below provides a snapshot of the major items presented at the City of Waterloo's council meeting.
Waterloo - Grand River Accessibility Advisory Committee appointments and new terms of reference approved Council has approved the committee’s new terms of reference. The terms include the inclusion of the Township of Wilmot and a change in committee members’ terms from three to four years. Two additional members have been added to the committee, representing the Township of Wilmot, and the appointment of Donna Hartzler and Rob Bender for a four year term has been approved.
PeopleSoft system upgrades funded Waterloo’s PeopleSoft system, used for financial and HRMS systems, will be upgraded beginning in 2015. Funding of $286,000 has been released by council to allow for this.
2014 health, safety, and wellness report received Council received and approved this annual report. The 2014 Health, Safety, and Wellness Report provides council with an overview of corporate initiatives including program highlights, incident and claims analysis, and a discussion of future trends and issues.
WNH Holding Corp. representatives appointed Council has approved their nominees along with citizen nominees on the Waterloo North Hydro Holding Corporation. The nominees include Mayor Dave Jaworsky, Chair of the finance and strategic planning committee Jeff Henry, Mary D’Alton, Tim Jackson, John Milloy, and David Petras. Councillor Jeff Henry has also been granted proxy to vote on behalf of the City of Waterloo at the annual general meeting of shareholders on May 21, 2015.
2014 consolidated financial statements approved Tom Mennill, audit engagement partner at KPMG, presented the 2014 consolidated financial statements and were approved by council. The statements show an overall improvement in the financial position for the city with a positive trend moving forward.
Revenue has exceeded budget and expenditures were within the budget. Audited surplus totaled $12.6M which includes amounts collected and used for capital projects and amortization.