Item No. 8.2

Council Report: S 162/2020

Subject: Update of Various Finance Policies

Reference:

Date to Council: December 7, 2020
Author: Stephen Cipkar
Manager of Financial Accounting
519-255-6100 ext. 6234
scipkar@citywindsor.ca

To : Mayor and Members of City Council

Recommendation:

THAT City Council APPROVE the updated Waiver of Fees and Grant Funding Policy, attached as Appendix A to this report; and,

THAT City Council APPROVE the updated Corporate Gift Policy, attached as Appendix B to this report; and,

THAT City Council APPROVE the updated Tangible Capital Assets Policy, attached as Appendix C to this report; and,

THAT City Council APPROVE the updated PSAB 3260 Contaminated Sites Accounting and Reporting Policy, attached as Appendix D to this report; and,

THAT Administration BE DIRECTED to amend the related Procedures and Forms as necessary, to facilitate compliance with the amended policies.

Executive Summary:

N/A.

Background:

The attached Finance policies are existing policies that have been previously adopted by City Council. As part of the continued effort to improve financial controls and decrease risk, a review of each policy was undertaken, and administration has identified areas where practices can be streamlined for efficiency and language clarified to facilitate compliance.