Moved by Gary McNamara
Seconded by Ed Sleiman
THAT the Board approve 2019 Financial Statements and Auditors’ Report.
25-2020
Carried Unanimously
B. January – March 2020 Financial Report
The Manager of Finance referred to page 65 of the agenda package regarding the three month operations financial review.
The Manager of Finance stated that municipally delivered material is approximately 1,000 tonnes higher than the same period the previous year.
The Manager of Finance stated that additional contaminated soil has continued to come in due to construction projects. She advised the Board that the Authority has exceeded their episodic waste budget figure.
The Manager of Finance referred to the table on page 66 of the agenda package that details the tonnage for industrial/commercial/institutional (ICI) waste. She stated there were no significant variances with greenhouse vines and ICI waste material delivered for disposal.
The Manager of Finance stated that recyclable material commodity prices have stabilized at this time.
She stated that no significant variances have been identified for the first three months of 2020.
Mr. Morrison noted that the information provided for current newspaper and cardboard pricing looks like they are very high. The Manager of Finance stated that for newsprint this was partially due to the U.S. exchange rate and that the Authority is paid in U.S. for this material.
The Manager of Waste Diversion stated that the numbers for cardboard are higher due to the COVID-19 pandemic and will be short-lived. She also noted that there has been a drop in aluminum and plastics due to the plants being closed during the pandemic.
Moved by Marc Bondy
Seconded by Fabio Costante
THAT the Board receive the January to March 2020 – Three Month Operations Financial Review as information.