HomeMy WebLinkAboutReport No.10 02/28/1975 Report No. 10
Mayor Rickard and Members of Council:-
The following recommendations to Council were made at a meeting of the Finance
Committee in the Bowmanville Committee Room on February 28, 1975, at 10 a.m.
1. Insurance Tendering
In accordance with Res. #F-74-75 the Committee met with Mr. H. F. Hartley
Insurance Consultant regarding the tendering of the Town's Insurance coverage.
It was recommended that Mr. Hartley be engaged at a fee of $4,000, to carry
out the tendering of the Town's Insurance coverage in accordance with the �v��
Treasurer's Report. A copy of the report is attached for the information ` f�
of Council.
2. Opening Balances of All Community Committees or Associations, Sec. 148,
Bill 162, Region of Durham
That the following recommendation of the Treasurer be concurred with;
"I have had a discussion with the auditors as to the best method of reporting
these balances on our statement and it is agreed by Messrs. Deloitte Haskins
and Sells, Mr. Mcllroy and myself that these should be shown as part of the
surpluses being brought into the New Municipality.
Then in 1974, they would be shown as grants to the Committee or Association
to put the Bank Balances back into the hands of the Boards or Committees.
It is, in essence, a bookkeeping entry."
3. Amounts owing by Boards
That advances to Boards and Committees, from the Town, be shown as Accounts
Payable on the Boards and Committees Financial Statements and as Accounts
Receivable on the Town's Financ ial Statements as of December 31, 1974.
Respectfully submitted,
H. B. Tink, Chairman