Members of the Finance & Audit Committee (2018)
Commissioner Laurie Hawn
Commissioner John Lilley
Commissioner Karen MacKenzie
Vice Chair Micki Ruth
Chair Tim O’Brien (ex-officio)
Councillor Sarah Hamilton (ex-officio)
Mandate of the Finance & Audit Committee
The Committee provides assistance to the Commission in fulfilling its responsibility, pursuant to the Police Act, to determine estimates of funds required for policing and allocating funds that are provided to the Edmonton Police Service by City Council.
The Committee also assists the Commission in its oversight responsibilities relating to the integrity of the Service’s financial statements, the financial reporting process, and the systems of the internal financial controls.
The Committee also provides oversight of management’s audit functions and overall risk culture for the Service to ensure that the Service’s assets and reputation are protected and safeguarded within reasonable business limits.
Duties and Responsibilities of the Finance & Audit Committee:
a. consult with the Chief of Police on the development of an annual financial plan that specifies the level of police service and programs to be provided in the City of Edmonton;
b. oversee and review the preparation of long range financial plans for the Service for recommendation to the Commission;
c. review and recommend to the Commission the guiding principles for changes to approved budgets and for transfer(s) or reallocation(s) of monies included in approved budgets;
d. review and recommend financial policies to the Commission;
e. authorize signing authorities for expense approvals to the Commission;
f. review, analyze and recommend operating and capital budget financial information provided by management to the Commission;
g. review strategic key performance indicators as they relate to financial performance;
h. review and make recommendations with respect to relevant legislative changes affecting financial resources and environmental issues as they relate to the Commission and or the Service;
i. engage, serve as primary contact and report on reviews of external auditors:
j. review and recommend to the Commission the internal auditor’s annual plan;
k. receive, review and report on audit outcomes and initiatives and recommend required action;
l. meet “in camera” at least quarterly with the internal auditor to discuss audit outcomes and initiatives, emerging issues, and review management’s cooperation.