The Corporation of the County of Northumberland
Finance and Audit Committee
Agenda

Tuesday, December 03, 2024 at 11:00 A.m. - 12:30 P.m.

Council Chambers

555 Courthouse Road, Cobourg, ON K9A 5J6

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1.

Notices

1.a

Accessible Format

1.b

Meeting Format

2.

Call to Order

2.a

Territorial Land Acknowledgement

3.

Approval of the Agenda

• Recommended Motion:

  "That the agenda for the December 3, 2024 Finance and Audit Committee be approved."

4.

Disclosures of Interest

5.

Delegations

6.

Business Arising from Last Meeting

7.

Communications

7.a

Correspondence, Municipality of St Charles 'Canada Community Building Fund'

• Recommended Motion:

  "That the Finance and Audit Committee receive the correspondence from the Municipality of St. Charles regarding 'Canada Community Building Fund' for information, noting that County Council previously considered and supported correspondence regarding this subject matter at the October 16, 2024 County Council meeting; and

  Further That the Committee recommend that County Council receive this correspondence for information."

7.b

Correspondence, Municipality of St Charles and Township of Georgian Bay 'Promptly Resume Assessment Cycle'

• Recommended Motion:

  "That the Finance and Audit Committee receive the correspondence from the Municipality of St. Charles and Township of Georgian Bay regarding 'Promptly Resume Assessment Cycle' for information, noting that County Council previously considered and supported correspondence regarding this subject matter at the August 14, 2024 County Council meeting; and

  Further That the Committee recommend that County Council receive this correspondence for information."

8.

Staff Reports

8.a

Report 2024-157 'October 2024 Year-To-Date Financial Results'

• Recommended Motion:

  “That the Finance and Audit Committee receive Report 2024-157 ‘October 2024 Year-To-Date Financial Results’ for information; and

  Further That the Committee recommend that County Council receive this report for information.”

8.b

Report 2024-158 'Golden Plough Lodge and Northumberland County Archives and Museum Redevelopment Project Financing'

• Recommended Motion:

  “That the Finance and Audit Committee approve Councillor Martin attending the December 3, 2024 Committee meeting virtually.”

• Recommended Motion:

  “That the Finance and Audit Committee, having considered Report 2024-158 ‘Golden Plough Lodge (GPL) and Northumberland County Archives and Museum (NCAM) Redevelopment Project Financing’, recommend that County Council direct staff to finalize the current approved debenture with Ontario Infrastructure and Lands Corporation in the amount of $96,770,321 with a term of 20 years; and

  Further That the Committee recommend that County Council identify the additional financing requirements for the GPL and NCAM project for separate discussion during budget deliberations at the December 18th, 2024 County Council meeting.”

9.

Other Matters Considered by Committee

10.

Media Questions

11.

Closed Session

12.

Motion to Rise and Result from Closed Session

13.

Next Meeting - Tuesday, January 7, 2025 at 11:00 a.m.

14.

Adjournment