THE REGIONAL MUNICIPALITY OF PEEL

AUDIT SUBCOMMITTEE

M I N U T E S      ASC-2008-2


The Audit Subcommittee met on April 17, 2008, at 8:39 a.m. in the Council Chamber, Regional Administrative Headquarters, 10 Peel Centre Drive, Brampton.

Members Present: C. Corbasson; R. Paterak; R. Whitehead
   
Members Absent:   E. Kolb, due to other municipal business; G. Miles
   
Also Present:   D. Szwarc, Chief Administrative Officer; R.K. Gillespie, Commissioner of Corporate Services and Regional Solicitor; D. Labrecque, Chief Financial Officer; J. MacCrae, Director of Finance, Housing Finance; B. Wilson, Director, Internal Audit; K. Travers, Associate Partner, KPMG; J. Payne, Committee Clerk

Chaired by Councillor R. Whitehead

1. DECLARATIONS OF CONFLICT OF INTEREST - Nil


2. APPROVAL OF AGENDA

RECOMMENDATION ASC-2-2008:

That the agenda for the April 17, 2008 Audit Subcommittee meeting be approved.


3. DELEGATIONS/PRESENTATIONS

a) R. Kent Gillespie, Commissioner of Corporate Services and Regional Solicitor, Update Regarding Region of Peel Audit Subcommittee Agenda Management

Received

R. Kent Gillespie, Commissioner of Corporate Services and Regional Solicitor advised that moving forward there will no longer be separate Audit Subcommittee agendas and minutes for matters related to the Peel Housing Corporation and the Region of Peel. All matters will be dealt with through the Regional Audit Subcommittee agendas and minutes henceforth.


4. REPORTS

a) 2007 Region of Peel Audited and Consolidated Financial Statements

Received

b) 2007 KPMG Audit Findings Report

Received

c) Peel Housing Corporation Audited 2007 Financial Statements

Received

d) KPMG 2007 Audit Findings Report and Management Letter for Peel Living Corporation

Received


5. COMMUNICATIONS

a) Dan Labrecque, Chief Financial Officer, Region of Peel , Memo dated March 19, 2008, Announcing that the Finance Department has Won its Sixth Consecutive Government of Finance Officers Association Canadian Award for Financial Reporting for its 2006 Annual Financial Report

Received

6. IN CAMERA MATTERS - Nil

7. OTHER BUSINESS - Nil

8. NEXT MEETING

May 1, 2008
8:30 a.m. - 9:30 a.m.
Council Chamber, 5th floor
Regional Administrative Headquarters
10 Peel Centre Drive
Brampton, Ontario


9. ADJOURNMENT

The meeting adjourned at 8:42 a.m.