Finance & Audit Committee

Updated July 21, 2021

The Finance Committee has been combined with the Audit Committee, and now forms the Finance and Audit Committee.


The Finance and Audit Committee (the Committee) is a Standing Committee of Council. The purpose of the Committee is to provide financial, risk management, and audit oversight of District financial operations and provide a forum for discussion of District financial issues.


The Committee will:

  • participate in and review the process for the creation of the District’s Five-Year Financial Plan
  • ensure the alignment of the Five-Year Financial Plan with the District’s Strategic Plan Goals and Objectives
  • review the financial risk management framework
  • oversee District reserve funds, including the Endowment Fund
  • oversee the District’s investment program and performance
  • review and make recommendations to Council regarding financial policy
  • review and make recommendations to Council on fees, charges, and necessary changes to strategic direction
  • review and recommend for approval the annual consolidated financial statements
  • review the financial implications of outstanding litigation
  • consider any other matters referred to the Finance and Audit Committee by Council

The external auditor is accountable to Council and the Committee. The Committee will:

  • review the appointment of the external auditor; assessing performance and recommending appointment or re-appointment of the external auditor
  • receive assurance from the external auditor on the independence of the external auditor
  • review the plans and conduct of the annual external audit
  • review the external auditor’s Audit Report and Management Letter, review management’s response and subsequent follow-up on any matters raised by the external auditors.


The Committee shall comprise seven voting members consisting of six Council members and the Mayor as the Chairperson. A quorum shall be four members of the Committee.


Mayor Booth (Chair), Councillor Cameron, Councillor Gambioli, Councillor Lambur, Councillor Soprovich, Councillor Thompson, and Councillor Wong

Staff Liaison

Lesley Taylor, Committee Clerk



Terms of Reference - Finance and Audit Committee

Next Meeting

Finance and Audit Committee Meeting

Date: Monday, December 6
Time: 1 p.m.
Location: Electronic meeting via Webex


Click here to join meeting

Password: westvan 

Number: 2486 736 1248

Electronic meeting details

This meeting will be conducted via electronic communication facilities, pursuant to Council Committee Procedure Bylaw No. 5020, 2019.

Members of the public who wish to listen and provide input are encouraged to attend virtually via Webex.

View detailed instructions on joining a virtual committee meeting

Click the meeting link, enter your name, email address, and event password, then click "Join Now". Note: Only click "join by browser" if you do not plan on using your microphone.

Written submissions regarding matters that fall within the committee’s mandate can also be submitted to staff liaisons and will be circulated to members prior to a meeting for their information.

2021 meetings

Audit Committee

May 10 Notice Minutes

Finance Committee 

Feb. 17

Notice Minutes
March 17 Notice Minutes
June 15 Cancelled  
June 18 Notice Minutes

Finance and Audit Committee

July 26



Sep. 29 Notice Minutes
Sep. 30 Cancelled  
Oct. 27 Notice Minutes
Nov. 1 Notice  
Nov. 18 Notice  
Dec. 6 Notice  

2020 Meetings

Audit Committee

May 4 Notice Minutes
Dec. 7 Notice Minutes

Finance Committee  

Feb. 11 Notice Minutes
March 11 Notice Minutes
June 16 Notice Minutes
Sept. 30 Notice Minutes
Oct. 21 Notice Minutes
Nov. 19 Notice Minutes