GFOABC Dollars & Sense – June 2024 - Issue 127

ISSUE #127 • JUNE 2024

INSIDE 2024 Conference Recap

New Strategic Plan

Sustainability Reporting Standards

PRESIDENT’S MESSAGE | RIANNA LACHANCE

INSIDE 2 President’s Message 4 Executive Director’s Message 5 Online Forum Update 6 Local Government Finance Awards 8 Strategic Plan 9 SFL Report Out 10 Annual Conference Highlights 12 MFA’s Corner - Nicole Gervais 14 The Costs Beyond the Service 16 Insurance vs. Enterprise Risk Management

18 Public Sector Sustainability 20 Integrating New Technology 22 First Nation Property Taxation 24 Operationalizing Asset Management 26 Community Driven Software Solutions in Municipal Government

28 Quarterly Question 30 Member Spotlight: Geoff Kreek 32 Collector’s Corner 34 Introducing the Board of Directors 37 Thank You Exhibitors 38 Thank You Sponsors 2 | DOLLARS & SENSE PERSPECTIVE

THE 2024 CONFERENCE IS A WRAP! Thank you to the GFOABC staff, GFOABC Board of Directors, our sponsors, contributors and exhibitors.

It could not happen without all of you showing up with your quality contributions. You offered your time and talent with such willingness.

Conference delegates also went above and beyond sharing their experience and solutions for what’s possible - it was such a success.

This years’ conference was like so many others: thought-provoking and on trend. But this year’s conference went further with the City of Kamloops contributing their experience and ideas. Local governments, although just beginning in some cases, are redefining ‘key partners’ as we look at achieving the necessary on-the-ground changes in our communities.

While relationships with our many partners already exist, the relationship of the future is different. Think of your own business connections and networking, and what you do to be effective in your roles. It might look something like investing in relationships when your work is expected to cross paths through obvious contracts, required public engagement or potential business deals.

Now looking around, what is driving new investments into partnerships?

Are the reasons more broad? Perhaps now the reason looks like ‘I now need to know about you because our paths will most surely cross (climate, housing, health) even though they don’t today’. Then reflect forward, to what’s surely to come next, where partnerships are driven by the need to know about you because ‘I know we are interconnected and have shared outcomes and I understand how outcomes can be so much better when we are already connected’.

Perhaps this will bring new meaning to economies of scale, success and return on investment?

I can also see this evolutionary effect in the workplace. I can’t speak to a consensus across all our membership, but I know I am completely aware and now accepting that the equation of job descriptions equaling capacity is no longer adding up in the same way. I see that there are now 3rd, 4th and 5th dimensions to motivating, coaching, educating and retaining staff. Isn’t this a lot like the evolution we are seeing in ESG, climate action, emergency response?

The ‘why’ we do what we do is evolving.

GFOABC.CA

2024-2025 BOARD OF DIRECTORS

While these are some of my own opinions and thoughts the GFOABC is paying attention to these trends.

After a year-long strategic planning and engagement process GFOABC is pleased to announce the launch of the 2024-2029 GFOABC Strategic Plan with this newsletter. The strategic objectives identified lean forward on many of these challenges, while also guiding the organization to remain grounded in development of the education portfolio, in supporting our supercharged network and supporting our role in fostering partnerships to the benefit of our members.

With the 2024 Conference in Kamloops done the newly elected Executive and Board of Directors get to work. We have heard from our

Rianna Lachance Capital Regional District PRESIDENT

Talitha Soldera District of North Cowichan TREASURER

Julia Aspinall City of Vancouver VICE PRESIDENT

Corinne Bomben City of Prince Rupert SECRETARY

Nyla Attiana District of Tofino PAST PRESIDENT

Nicole Gervais MFABC DIRECTOR AT LARGE

Dave Hallinan City of Kamloops DIRECTOR AT LARGE

Elio Iorio District of North Vancouver DIRECTOR AT LARGE

Mike Kennedy City of Rossland DIRECTOR AT LARGE

Rianna Lachance, GFOABC President

lenora Lee KPMG DIRECTOR AT LARGE

Jeffrey Lovell City of Port Coquitlam DIRECTOR AT LARGE

Kelly Lownsbrough Fraser Valley Regional District DIRECTOR AT LARGE

Charlotte Osborne City of Cranbrook DIRECTOR AT LARGE

GFOABC STAFF

BOARD OF DIRECTORS

DIRECTORS AT LARGE

Kala Harris, Executive Director

Rianna Lachance, President

Nicole Gervais, MFABC

Matt Holme, Manager, Member Services & Communications

Julia Aspinall, Vice President

Julie Zadan, Manager, Professional Development & Education

Corinne Bomben, Secretary

members, and we have a plan to respond to challenges and realize the many opportunities identified. I can’t wait to see what we do next.

Otto&Fran / www.ottoandfran.com, Graphic Design Services

Talitha Soldera, Treasurer Nyla Attiana, Past President

Dave Hallinan, City of Kamloops Elio Iorio, District of North Vancouver Mike Kennedy, City of Rossland Lenora Lee, KPMG Jeffrey Lovell, City of Port Coquitlam Kelly Lownsbrough, Fraser Valley Regional District Charlotte Osborne, City of Cranbrook

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EXECUTIVE DIRECTOR’S MESSAGE | KALA HARRIS

A PERPETUAL MOTION MACHINE

I often refer to the association as a perpetual motion machine. A perpetual motion machine is a hypothetical machine that can work infinitely without an external energy source. Of course, given that a perpetual motion machine is hypothetical, I am speaking metaphorically.

It’s probably more accurate, and less of a flair for the dramatic, to say that GFOABC is a continuously in-motion association.

With this year’s conference in the rearview mirror and the second cohort of Strategic Financial Leadership underway, preparations are in underway to welcome a new Boot Camp class in August, confirm Fall PD workshops for November, and plan next year’s conference in May. The association is in a continuous process of planning and improvement to provide high-quality professional development opportunities for our members.

This infinite task is rewarded by the participation and engagement of our members, sponsors, exhibitors, and partners who provide the external energy source that sustains and elevates the association and its vision as a platform for knowledge-sharing.

This year’s conference is a case in point: built on the underpinning themes of partnership, collaboration, and innovation with a nod to First Nation’s partnership and economic reconciliation. The opening keynote was delivered by Carol Anne Hilton, founder of the Indigenomics Institute, and was supported by our members, sponsors, exhibitors, and partners, who

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collectively, helped us deliver on our conference goal.

From securing Kukpi7 (Chief), Rosanne Casimir of the Tk̓emlúps te Secwépemc, who delivered a message of hope for the closing keynote presentation, presenting panels on First Nations partnerships, and participating in the Innovative Budgeting Techniques panel session, the conference ultimately can reflect the needs of members by offering up a platform for knowledge-sharing. We are extremely grateful to everyone who participated in and engaged in this year’s conference.

I take this opportunity to express my gratitude and appreciation to the internal energy source, the GFOABC staff, the Board of Directors, our conference planner, and the amazing team at the City of Kamloops for helping to make this conference a success.

We look forward to building on what we learned for future dialogues and conference programs and invite you to reach out to us anytime with your ideas for next year’s conference.

In the meantime, please enjoy June’s newsletter, and don’t forget that the conference recordings are available in the app until August 31!

Kala Harris, Executive Director GFOABC acknowledges the conference was held on Tk’emlúps te Secwépemc territory, situated within the unceded ancestral land of the Secwépemc Nation.

GFOABC.CA

MATT HOLME | ONLINE FORUM UPDATE

“As was announced to the GFOABC membership on May 20, 2024, GFOABC is switching Online Forum providers. The purpose of this change is to deliver a high-quality and engaging platform at a more economical price point.“

Last fall, with support from our third-party technology support consultants GFOABC explored options for alternative providers. In December 2023, we were presented with five options. The following month one of these providers – Discourse – was deemed to be the best option. GFOABC considered cost, familiarity with this type of transition (data transfer and themes) and suitability for member needs in its analysis of the five possible alternative Online Forum providers.

The new Online Forum is tentatively scheduled to launch in early- to mid-July 2024. To transition, the current Online Forum will need to be “frozen” in early July to enable the transfer of data to the new Online Forum.

There will be a period when members are without an Online Forum. This timeline will allow the new Online Forum to be live ahead of Boot Camp, as the Online Forum is utilized by Boot Camp attendees as part of their program.

The process to convert the existing Online Forum to the new Online Forum began in February 2024. As the transition to a new Online Forum is an opportunity to improve the Online Forum, GFOABC has provided input during the transition. Regular discussions are held between GFOABC and the third-party technology support consultants to ensure the project is on track and meets the expectations of GFOABC and its members.

Once the new Online Forum launches, the functionality and theming can still change. The goal is to minimize the amount of change once the new Online Forum launches, but as member feedback is received for the new Online Forum GFOABC will consider this feedback and how it can be applied to the Online Forum.

The work completed for the new Online Forum was presented to the Online Forum Ambassadors on May 16, 2024, and the feedback provided by the Ambassadors was positive. Broadly, the functionality of the new Online Forum is like the existing Online Forum.

However, there will be changes and improvements from the existing Online Forum. Notably, there will also be an app for the new Online Forum – a request we had received from some of our members previously. Our third-party technology support consultants are working on an instructional video for members as well. This video would be released at the same time as the new Online Forum.

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We look forward to the launch of the new Online Forum and the opportunities it provides for member engagement. The Online Forum has proven to be a valuable tool for information sharing and networking for our members. The new Online Forum will build upon this strong foundation and continue to be a valuable resource.

MATT HOLME Manager, Member Services and

Communications.

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LOCAL GOVERNMENT FINANCE AWARDS

!

The Excellence in Local Government Finance Awards is an opportunity to honour the exceptional work GFOABC members. Our local governments are fortunate to have some amazing and talented individuals in their finance departments. Moreover, GFOABC is grateful for the support it receives from its many partners. These organizations support GFOABC in so many ways, including with the recent Annual Conference.

This year, we were honoured to award Mallory Denniston the New Member Award and Shelley Hahn with the Life Member Award! Both deserving recipients, Mallory and Shelley accepted their awards at the recent Annual Conference. Congratulators Mallory and Shelley!

NEW MEMBER AWARD Mallory Denniston, City of Powell River The New Member Award is to recognize new members who demonstrate the desire to take on the challenge of local government finance through education and professional development. To be eligible for this award, new members should have a maximum of two years of local government finance experience.

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An innovative and accomplished leader, Mallory is CFO for the City of Powell River, providing strategic financial leadership, guiding the finances for large vital civic projects, and introducing systems that improve efficiency, transparency, and engagement.

Her team is navigating the financial challenges of aging infrastructure, high inflation, and the closure of the century old major industry economic driver with diligence and expertise.

GFOABC.CA

LIFE MEMBER AWARD Shelley Hahn, Municipal Finance Authority of British Columbia The Life Member Award recognizes members and partners who have made significant contributions to local government. This includes an individual’s dedication throughout their career to GFOABC, promoting education, peer support and networking to enhance professional skills within local government.

Shelley Hahn served as the Chief Operating Officer of the Municipal Finance Authority of BC (MFA) until March of 2024. During her 26-year tenure she directed the operations of all short-term lending and investment products and oversaw all requests and approvals for financing. The best part of her job was being able to work with clients to obtain financing for capital infrastructure and providing guidance on best practices for investing reserves.

MFA’s Business & Sustainability, Credit, Investment and Rating Agency Committees. Shelley served on the Board of the Government Finance Officers Association of British Columbia (GFOABC) for 18 years and was very active in developing educational opportunities for the GFOABC Membership and MFA’s clients. In 2009 she won the Innovation Award from the GFOABC for her development of a multi-day financial training program for new finance officers. In 2017, she won the Outstanding Contribution Award for her continued role in promoting financial education. Shelley also served on the Victoria Chapter of the Women in Capital Markets Board and co-chaired the Professional Development Committee from 2018-2020. Passionate about education and teaching Shelley continues to be involved in local government financial education, continuing to work with the GFOABC and Capilano University. Shelley is a Chartered Professional Accountant and has a Certificate in Local Government Management from Capilano University.

At the MFA Shelley was also responsible for all legal, legislative and securities compliance within the organization. She served as a senior member of the

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2024-2029 Strategic Plan OUR VISION

We are the leading source for knowledge sharing that empowers BC local government financial excellence.

OUR MISSION We promote excellence in local government through support and development of our members.

OUR VALUES Professionalism, Leadership and Collaboration.

Our Strategic Outcomes 1

2

WE ARE RELEVANT TO ALL OF OUR MEMBERS

WE ARE THE CENTER OF DIALOGUE WITH MEMBERS, Provide programming that considers GOVERNMENT AND the full breadth of the roles and PARTNERS responsibilities of local government financial professionals and the diversity of experience.

A. Build awareness of resources and professional development opportunities.

B. Continue improving education and professional development.

C. Engage members throughout their careers and beyond.

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Leverage the experience and expertise of our members, government, and partners in building dialogue on local government financial matters.

A. Maintain and strengthen partnership with the BC government.

3 WE PROVIDE VALUE TO OUR MEMBERSHIP THROUGH PARTNERSHIPS Encourage cross-partnership opportunities that leverage partner resources, training, and reputation within the association for the benefit of members and partners.

A. Maintain collaboration between members and partners on program participation and delivery.

B. Increase engagement with partners and build relationships.

GFOABC.CA

MATT HOLME | SFL REPORT OUT

THE CLASS OF 2024 The 2024 Annual Conference marked a significant milestone for both GFOABC and nine of its members: The graduation of the first Strategic Financial Leadership (SFL) cohort. SFL was launched as a “cohort-based, applied leadership program for local government finance professionals who are eager to level up their leadership competency while expanding their network, advancing an initiative of importance to their community, and positively contributing to others’ experience in the program.” Although the program was launched in 2023, the roots of the program can be found as far back as 2016, when advanced financial leadership was identified as a professional development area of focus for GFOABC. The cohort first met at the 2023 Annual Conference in Whistler. As an observer at this meeting, it was clear SFL less about numbers and spreadsheets, and more about psychology, personality types, and personal growth.

Everyone in SFL was required to work closely with others in SFL, as well as complete a capstone project at the end of the year-long program. They were also paired with a mentor and coach to guide them through their workplan.

The cohort met again at GFOABC’s Fall PD in November 2023 in Vancouver, where they shared their experiences in the program to date.

With the completion of the program in June 2024, there was an opportunity to share the SFL experience at the 2024 Annual Conference during a concurrent session. Emily Lewis from Erpie Advisory Inc. and Brittney Dawney from Urban Systems were the facilitators for the cohort and moderated a panel of SFL graduates.

Questions to the panel included: What brought you to SFL? What was your understanding of SFL? And how did you fit this into your busy work life? Panelists mentioned

JUNE | 2024

the desire to learn more about leadership specifically and apply these learnings to their careers, and how lifelong skills and relationships were built through the program.

One panelist noted how it has helped understand the perspectives of others in their organization, and another discussed how the program has helped them understand the importance of spending time with their own staff – mentoring them and creating an environment for growth.

The panel concluded with a reflection on the year in SFL. The cohort did not know each other well at the first meeting in Whistler. But as time went on the cohort worked together and supported each other. The cohort was split into triads (groups of three) that met every two weeks to discuss leadership issues. It was noted how beneficial this structure was and how it established trusting professional relationships.

The second cohort is underway. It is clear through the testimonials from the first cohort that SFL was a success.

GFOABC is proud of the work of its members through the program and supporting a program outside of the traditional accounting and finance curriculum.

MATT HOLME Manager, Member Services and

Communications.

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ANNUAL CONFERENCE HIGHLIGHTS

A plenary panel on the final day of the session focused on building relationships with first nations partners. The panel was organized by Deloitte and featured representatives from the First Nations Tax Commission, shishalh First Nation, and Huu-ay-aht First Nations.

GFOABC HOLDS ANNUAL CONFERENCE IN KAMLOOPS The 2024 Annual Conference took place June 5-7, 2024, Kamloops. The theme, “Partnering with Purpose” was inspiring, as keynote speakers, plenary sessions and concurrent sessions covered an array of topics like First Nations relations, housing, AI and more. There were 236 in-person delegates plus, while another 159 attended virtually and another 76 attended in-person as exhibitors. There were 27 sessions in total over the course of two and half days.

A lot of work goes into planning a conference. The planners, tech support, staff and board of directors helped tremendously to deliver a successful event. We will see you next year in Richmond!

2023 GFOABC ANNUAL CONFERENCE PRIZE WINNERS Congratulations to the prize winners at the 2024 Annual Conference!

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GFOABC.CA

ADDITIONAL HIGHLIGHTS INCLUDED: • Keynote address from Carol Anne Hilton, CEO and founder of the Indigenomics Institute.

• GFOABC’s Annual General Meeting, where we welcomed the 2024/25 Board of Directors and passed the 20242029 Strategic Plan.

• Partner networking events hosted by KPMG, BDO and Navy & Sage.

• Remarks from President Rianna Lachance and Awards Presentation.

• The Gala Dinner, which was attended by 258 delegates.

• In lieu of speaker gifts, $2,500 was donated to BGC Kamloops (formerly known as Boys and Girls Club of Kamloops).

GFOABC also held pre-conference session on June 3 and 4. These sessions covered development cost charges, debt financing, municipal tax sale legal issues and ESG. In lieu of speaker gifts, GFOABC donated $2,500 to BGC Kamloops. Pictured here (l to r) are Alison Bowman, Marketing and Development Coordinator – BGC Kamloops and Rianna Lachance, President – GFOABC.

There was also a pre-conference session dedicated to GFOABC’s regional district members and their specific needs.

Thank you everyone who attended both in person and virtually!

We cannot wait to see you in Richmond next year!.

EARLY BIRD DRAW: Anissa Khan, City of Vancouver

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VIRTUAL TRADESHOW DRAW: Brittany Johnson, Ministry of Municipal Affairs

IN-PERSON TRADESHOW DRAW: Tara Snow, City of Fort St. John

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MFA’S CORNER

THE MFA’S THIRD PILLAR: WHY SUPPORTING LOCAL GOVERNMENT EDUCATION IS IMPORTANT MFA’S LONG-STANDING COMMITMENT TO EDUCATIONAL SUPPORT The Municipal Finance Authority of BC (MFA) has a long history of supporting educational initiatives for the BC local government sector. Since MFA’s inception, we have contributed almost $3 million to this effect! This commitment is embedded into the “Three Pillars” of our Mission and Mandate — (1) providing the most costeffective long- and short-term lending for the sector, (2) offering a unique range of investment products purposebuilt for the sector, and (3) supporting training, education, and events for local government leaders through both financial and non-financial means. We have more than doubled our annual contribution from a decade ago and are concentrating our financial support on partners like GFOABC, who are best positioned to deliver ongoing, meaningful content that reflects the current educational needs of BC communities.

WHY IS THIS COMMITMENT IMPORTANT TO THE MFA? Our commitment to supporting educational sessions and networking events is a testament to our dedication to the financial health of BC communities. It’s not just about sharing our team’s extensive expertise and offering information on our products and services; it’s about understanding your challenges and evolving financial needs. We are not driven by profit; our sole mission is to bolster the financial health of BC communities, a commitment that sets us apart.

While our primary focus remains on excellence in financial management, we recognize the growing 12 | DOLLARS & SENSE PERSPECTIVE

importance of emerging and related issues such as enterprise risk management, environmental, social, and governance (ESG), and cybersecurity concerns. Although not directly financial, these topics have substantial impacts on the sector. Having access to ongoing top-quality and relevant education and information sharing has never been more critical as the complexity of your work and the pace of change escalates.

A RECIPROCAL RELATIONSHIP: LEARNING & GROWING TOGETHER Opportunities to learn from and share solutions among BC local government leaders and MFA support the stability and well-being of the entire sector. This stability means we can continue to access the best rates for borrowing and best-in-class low-cost and diversified investment products and services tailored to BC local governments. The rating agencies that confer our AAA credit ratings see the value of our investments in our client’s success, as do the investors who buy our bonds.

Continuing education creates opportunities for local government staff and elected officials to build on existing skill sets, learn from peers and other communities’ experiences, and explore new technologies and best practices, fueling organizational momentum and individual excellence.

MFA’s financial support ensures that educational programs continue to be developed, delivered, and updated. In addition to our monetary contributions, we regularly offer our team’s expertise as educators, connect organizations like GFOABC with subject matter experts

GFOABC.CA

Funding the Future of BC’s Local Governments from our extensive networks, and organize sessions like the Investment and Financing Forum webinars, offered twice a year in Spring and Fall.

MFA’S EDUCATIONAL SERVICES In addition to supporting the educational initiatives of our partner organizations, MFA also offers a variety of educational sessions directly to our clients. From delivering personalized presentations to councils or staff members to hosting our annual Pooled Investment Fund Unitholder Meeting in June (please join us for an economic update, accounting best practices and other topics of interest to all unitholders of MFA investment funds), our services expand well beyond loans and investments!

We strive to deliver customized, impactful, and relevant training and educational sessions that provide local government professionals with the tools they need to succeed. But we can’t do it effectively without your input.

If you have suggestions, please reach out to us. Your feedback is not just appreciated; it’s crucial to our mutual continuous improvement and success.

OUR SUSTAINING EDUCATION ALLIANCE WITH GFOABC PROVIDES FUNDING FOR:

Boot Camp Regional District Days Investment & Finance Webinars Strategic Financial Leadership Program Competency Framework for Finance Professionals Debt Financing course Introduction to Financial Indicators course Treasury Investment Management course

NICOLE GERVAIS is the Manager, Client Services with the Municipal Finance Authority of BC (MFA) as well as a GFOABC Board Member. She is responsible for managing the Client Service functions of the MFA related to investing, borrowing, education, and overall client support services (the best part of her job).

Nicole has extensive background in the financial services industry, serving over 18 years in various roles in commercial and retail banking. She is passionate about community outreach and has been fortunate to be able to support local non-profits through volunteering, facilitating financial literacy and other community-focused programs, and securing donations and corporate sponsorships throughout her career in financial services. Prior to joining the GFOABC leadership she sat on the Board of Directors for the Victoria Cool Aid Society.

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mfa.bc.ca

SPONSOR ARTICLE | MARINA SEN & SANDRA MAYO

THE COSTS BEYOND THE SERVICE:

THE ROLE OF INSURANCE IN CONTRACTUAL RISK TRANSFER ENGAGING CONTRACTORS OR SERVICE PROVIDERS WITHOUT A FORMAL AGREEMENT OR CONTRACT EXPOSES YOUR LOCAL GOVERNMENT TO SIGNIFICANT RISKS. THESE RISKS CAN RESULT IN FINANCIAL, REPUTATIONAL, ENVIRONMENTAL AND POLITICAL CONSEQUENCES. WITHOUT RISK TRANSFER MECHANISMS, CLAIMS ARISING FROM THE CONTRACTORS’ OR SERVICE PROVIDERS’ WORK CAN LEAD TO UNPREDICTABLE FINANCIAL IMPACTS, POTENTIALLY EXCEEDING THE BUDGETED COST FOR THE SERVICE. To minimize potential financial losses effectively, your local government can use contracts and insurance as a common risk transfer method. When entering into contractual agreements with external parties such as contractors and service providers, incorporating language to mitigate risk allows you to transfer the responsibility of potential issues back to them. The language and criteria will depend on the nature of the service agreement and your local government’s risk tolerance.

To minimize or transfer your risk through contracts, we recommend the following steps: 1. Get it in writing: Having a written contract or agreement ensures that any issues can be clarified and resolved quickly in case of disputes.

2. Define responsibilities: Clearly outline the responsibilities of each party in the contract. This helps communicate expectations and provides clear guidance.

3. Include indemnification and hold harmless clauses: These clauses require the contractor or service provider to assume responsibility and protect your local government from any loss, damage, or costs due to their work or activities.

4. Require insurance and proof of it: Asking contractors and service providers to provide insurance reduces your potential liability. By requesting a Certificate of Insurance (COI), you ensure they have the financial means to cover any loss, damage, or costs they are responsible for. Additionally, asking for 30 days’ written notice of cancellation or material change to ensure you are informed if the contractor or service provider cancels their insurance or makes significant changes.

5. Request to be an ‘Additional Insured’: By being added as an “additional insured,” your local government is protected from costs related to the contractor or service provider’s negligent actions. This ensures that these costs are not transferred to your local government.

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GFOABC.CA

MIABC members have several resources to help with risk transfer through contracts, including: • Risk & Insurance Tool for Contracts: This online resource provides recommendations for the minimum insurance requirements for your contracts.

• Contract Review Checklist: Reviewing contracts can be overwhelming due to their length and complexity.

The Contract Review Checklist is a risk management tool that helps members review key provisions in contracts before they are signed.

• Certificate of Insurance Templates: Local governments can adapt and include these templates with their contracts. When completed by the contractor’s insurance broker, these templates make it easy to determine whether your insurance requirements are being met.

• MIABC EventPolicy Portal: This online tool assists in managing your insurance requirements for user groups.

When a user purchases insurance through this method, your local government is automatically added as an additional insured to their insurance.

Regularly using contracts as a risk transfer tool allows local governments to minimize the costs associated with risks from their contractors or service providers.

MARINA SEN is the MIABC’s Manager of Member

Engagement. Since joining the organization in 2008, she has held multiple roles and has played a key role in the creation and evolution of the MIABC’s Property Insurance Program and brokerage arm, Civic Risk Insurance Solutions. Marina is passionate about connecting members with the tools they need to meet their ever-changing needs so that they focus on what is most important to them – serving their communities.

SANDRA MAYO CRM, RIMS-CRMP, CBCP is the

MIABC’s Manager of Risk Management Services and brings experience in local government from her previous risk management roles with a large B.C. city.

Sandra uses her skills to assist members with a variety of risk management and loss control challenges, and provides specialized support in business continuity.

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SPONSOR ARTICLE | JAMIE BLACK

A COMPARISON:

INSURANCE RISK MANAGEMENT vs. ENTERPRISE RISK MANAGEMENT RISK MANAGEMENT HELPS ORGANIZATIONS ACHIEVE OBJECTIVES BY MINIMIZING THREATS AND MAXIMIZING OPPORTUNITIES. LEADING APPROACHES INCLUDE INSURANCE RISK MANAGEMENT (IRM) AND ENTERPRISE RISK MANAGEMENT (ERM). LET’S COMPARE THE TWO.

IRM: A LONG HISTORY

IRM EXPLAINED

In the late 1600s, in a London gathering place named Lloyd’s Coffee House, ships returning from voyages, laden with goods, represented a financial windfall to their owners. But the risks were significant; many ships were lost to weather, pirates, and poor decisions.

IRM involves leveraging insurance as protection against financial losses due to unforeseen events. It includes:

Groups of owners began to take stakes in each other’s ships and cargo, so that a successful voyage benefitted all, and a lost ship wouldn’t mean financial ruin for one.

Risk sharing evolved into risk transfer. For a premium, investors would promise to repay ship owners in the event of a loss.

ERM: A RECENT HISTORY In the mid-1990s, high-profile company failures prompted the creation of the COSO Internal Control – Integrated Framework, a standard to guide internal control activities (updated in 2013).

In 2004, COSO released the ERM – Integrated Framework, broadening the model’s scope from financial reporting/fraud risks to all risks impacting an organization’s objectives (updated in 2017).

In 2009, the International Organization for Standardization released ISO 31000, a family of risk management standards, including implementation guidelines.

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1. Risk Transfer Principle: Transferring risk from insured parties to insurance providers through premium payments. Risk must be “insurable,” i.e., the loss must be accidental, unintentional, determinable, and measurable; the chance of loss calculable; and the premium economically feasible.

2. Tailored Risk Coverage: For specific risks, e.g., damage from fire; personal injury due to negligence; or losses from flood. Risks are covered by insurance policies, including property, liability, and business interruption. Insurers analyze risks and tailor coverage to address them.

3. Financial Safeguarding: Protection in the event of unexpected occurrences, allowing rebound from losses without severe financial repercussions.

4. Claims Management: Looks at root cause of loss and determines necessary policy/process changes. Selfinsured orgs must determine claim legitimacy, settle and pay claims, and establish claims reserves.

5. Premium Reduction: Accomplished via risk-reducing mitigants, e.g., a policy requiring firemen to wear protective gear reduces accidents and potential injury, thereby reducing claim frequency/severity, insurer’s claims costs, and premiums.

GFOABC.CA

ERM EXPLAINED ERM is used to identify, assess, prioritize, and manage risks across an organization. It includes: 1. Holistic Perspective: Considers risks across financial, operational, strategic, information technology, and compliance functions, including their interconnectedness and influence on overarching objectives.

2. Strategic Integration: Integrates risk management into strategic planning, decision-making and value creation. Defines acceptable tolerance, acceptable risk.

3. Risk Culture and Governance: Emphasizes risk-aware culture and structures for effective risk oversight at all levels.

CONTRASTING FEATURES While both IRM and ERM aim to mitigate risks, they differ in scope, application, and risk treatment.

• Scope: IRM is confined and specific, concentrating on risks covered by insurance policies, while ERM considers risks across an organization. Read More.

What We Do We help public sector finance, budget, and audit departments select, customize, and implement the best technology for their needs, while streamlining business processes.

Why Choose Us? Our Team • CPAs & tech experts • Budget Book/ACFR/CANFR Award reviewers

Our Experience • 50+ yrs in public sector finance • 30+ yrs in custom solutions • 100+ yrs in IT consulting

Our Results JAMIE BLACK , President, FHB. For more than

30 years, Jamie has analyzed needs, redesigned processes, and implemented custom solutions to help finance professionals across Canada and the US improve efficiency and effectiveness. He is a Canadian Association of Government Finance Officers (CAGFO) board member and a regular trainer/speaker on process automation, internal controls, data analytics, and effective communication.

• 700+ satisfied clients • 1,000+ projects completed • 99.8% client retention rate “FHB understood our goals and objectives and got us operational very quickly. We continue to receive excellent support from them. They go above and beyond…”

Nicole Adams, CGA, Associate Director of Finance, University of the Fraser Valley, BC

JUNE | 2024 www.fhblackinc.com | +1 844 852 5225 | info@fhblackinc.com

SPONSOR ARTICLE | BAILEY CHURCH

PUBLIC SECTOR SUSTAINABILITY THE CASE FOR VIGOROUSLY PURSUING THE DEVELOPMENT AND ADOPTION OF SUSTAINABILITY REPORTING STANDARDS FOR THE PUBLIC SECTOR HAS NEVER BEEN STRONGER. NASA’s Goddard Institute of Space Studies revealed that the summer of 2023 marked the Earth’s highest temperatures since global records were initiated in 1880. In fact, 2023 was the warmest year ever recorded in history, according to scientists from the National Oceanic and Atmospheric Administration’s National Centers for Environmental Information. All signs post to 2024 continuing this trend. The United Nations report “The Global Climate 2011-2020” observed that every successive decade since the 1990’s has been warmer than all previous decades. Extreme weather events have had devastating impacts around the world, hindering efforts towards the United Nations Sustainable Development Goals. A United Nations Intergovernmental Panel on Climate Change report recently emphasized both near term risks of global warming through 2040, as well as longer term risks to 2100, including biodiversity loss, elevated extinction risks, diminished water availability, and increased exposure to, and frequency of extreme weather events.

ambitions, particularly considering the vast physical infrastructure, non-renewable resources, rare earth elements, water and natural assets controlled by our local governments. Olivier Boutellis-Taft, CEO of Accountancy Europe expressed this urgency succinctly, in noting that “There will be no sustainability transition without the public sector taking the lead.” Simply put, local governments need to be out in front in the journey towards sustainability reporting.

Building upon the initiatives of the ISSB, the International Public Sector Accounting Standards Board (IPSASB) continues to work on sustainability reporting standards tailored to the public sector, with the first standard on climate disclosures expected Fall 2024.

The experience of the public sector to date has highlighted some critical success factors for the move to sustainability reporting:

As the world prepares for the implementation of sustainability reporting standards from the International Sustainability Standards Board (ISSB), the need for leadership at the local government level is pronounced.

Only select local governments from across Canada have provided any form of sustainability reporting. This presents a major obstacle to Canada’s sustainability

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• Completing comprehensive impact assessments, with the goal of identifying significant areas of impact of anticipated standards.

• Developing an inventory of existing data sources and highlighting gaps to reporting under the standards.

• Data remains the single biggest challenge to sustainability reporting. The reliability and availability of comprehensive data is an essential foundation for any reporting initiative. Local governments need to consider how this data falls under existing data governance models.

• Processes and controls are essential to the credibility of sustainability reporting. A key objective of the ISSB standards is to support auditable, decisionuseful information connected to financial statements.

However, a comparison of sustainability reporting with financial statements suggests a significant difference in maturity.

• Effective governance models are critical to a government’s sustainability reporting ambitions. Given the broad array of public sector stakeholders, strong governance must be in place to support the alignment of stakeholder objectives, and the linkage of those objectives to sustainability reporting.

Ultimately, local governments should begin their reporting journeys now, in advance of formal sustainability standards and reporting requirements.

Data, processes and controls, and governance models need time to mature and cannot be established on an impromptu basis. Governments can undertake several initiatives now to better ensure their reporting readiness, such as: • Defining clear roles and responsibilities, encompassing key functions such as Finance, IT, and operational teams.

• Building robust governance models and focusing on developing essential skills throughout government to enable sustainability reporting.

• Linking sustainability-driven performance indicators to budgeting decisions.

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• Commencing internal reporting on a pilot basis against a subset of existing frameworks, such as elements of Task Force on Climate-related Financial Disclosure (TCFD).

• Developing processes and controls to support high quality sustainability reporting.

Local governments need to lead the sustainability reporting journey. Our local governments are role models for their corporate citizens and broader society and must demonstrate leadership in the adoption of sustainability standards. Existing standards issued by the ISSB provide a good foundation for the standard-setting initiatives underway by IPSASB. Local governments should also look beyond the standards immediately expected from IPSASB in 2024, to prepare for future standards around biodiversity, ecosystems, and ecosystem services. There is no question that sustainability reporting will soon be required for local governments. The real question is whether local governments are ready to meet the very high expectations of their stakeholders.

BAILEY CHURCH leads the National Public Sector

Accounting Advisory service line at KPMG. He has an extensive background serving the Government of Canada, provincial governments, crown corporations, municipalities, not-for-profit organizations and for-profit entities pursuing significant transactions with public sector entities. His over 17 years of experience includes substantial work in financial management, accounting, financial reporting and auditing matters within the public sector environment.

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EXHIBITOR ARTICLE | YVETTE WU

INTEGRATING NEW TECHNOLOGY INTO THE WORKPLACE 2024 HAS BEEN A YEAR OF SERIOUS TECHNOLOGICAL ADVANCEMENT. WITH GENERATIVE AI BEING THE BREAKOUT TOPIC AT THIS YEAR’S GFOA CONFERENCE IN ORLANDO, THERE’S LITTLE DOUBT THAT THE LONGTERM FUTURE OF GOVERNMENT FINANCE IS GOING TO CHANGE. HOWEVER, BEFORE YOU JUMP INTO THE DEEP END, IT IS WORTH TAKING A MOMENT TO KNOW EXACTLY WHY AND HOW YOU PLAN TO GET YOUR FEET WET. THAT IS WHY WE WANT TO TAKE THIS CHANCE TO SHARE SOME GUIDING QUESTIONS THAT GOVERNMENT FINANCE OFFICERS CAN USE WHEN MAKING BIG DECISIONS TOWARD TECHNOLOGY INTEGRATIONS.

technology, especially in the early days of implementation.

A recent article in the Canadian HR Reporter by Sima Sajjadiani, An AI expert and professor at the UBC Sauder School of Business, stresses the importance of equitable access to training and knowledge enhancement regarding AI tools, something often inconsistent across government agencies. The fear of job replacement is one that impedes any meaningful effort for change, which is why it is critical to invest in professional development initiatives that empower workers to be effective facilitators of a long-term digital transformation.

REINFORCE RATHER THAN REPLACE

MONITOR AND MANAGE MUNDANITY WITH AUTOMATION

How are we setting up our people for success? It is easy to get swept up in headlines about how many jobs are going to be replaced by AI that we forgot how early on we still are in the tech cycle. Horse-drawn carriages were not replaced when the car was invented, but it was when people started to learn how to drive.

Many people see HR as an area of opportunity to reduce costs, but often overlooked is the increase in complexity and cognitive demand placed on workers by new

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What is taking up time more than brain power?

The ideal tasks for technological automation are the ones where the inputs and outputs are clear, but the process between them takes a lot of time.

Think of the tasks that you are still running on spreadsheets dated back 15 years, or the times when you need to spend hours on the phone or computer looking for information instead of making a decision? These are the types of low-hanging fruit, ripe for technology to GFOABC.CA

pick off. They also tend to be the tasks where the data collected can become a treasure trove of information if effectively managed.

From risk management, to treasury, to policy development, there are already solutions on the market designed to transform hours of data collection into instantly accessible visual dashboards that can monitored in real time.

PROTECT PRIVACY AT ALL POINTS How are we securing our data at every step of the process? As financial stewards of public funds, digital transformation must always come with careful consideration of where all our data is going. Usually digital or cloud platforms are more secure than traditional data storage, not less! The biggest dangers are at the entry and exit points where that data is transferred.

A 2020 report by the World Economic Forum found 95 per cent of cyber-attacks can be traced to human error, with another report by Verizon found that weak passwords made up 80 per cent of hackingrelated breaches. Simple solutions like multi-factor authentication and password managers go a long way in the digital world.

On top of that, ensure that vendors you work with are compliant with the latest cybersecurity regulations and minimize the number of points where data transfers take place!

YVETTE WU is the CEO and co-founder of Yield

Public procurement for all of Canada.

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Exchange, a digital treasury management platform that simplifies the rate shopping experience by connecting organizations directly to financial institutions for custom and competitive GIC rates. She has over 15 years of experience in banking and strategic consulting, holding previous positions at Vancity. Yvette has been nominated for the RBC Women in Entrepreneur Award and featured in multiple publications like Betakit, and Fast Company.

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PARTNER ARTICLE | TRENTON PAUL

UNDERSTANDING FIRST NATION PROPERTY TAXATION IN BRITISH COLUMBIA FOR OVER 100 FIRST NATION COMMUNITIES IN BRITISH COLUMBIA, THE SPRING MONTHS OF APRIL, MAY AND JUNE MARK THE PRACTICAL BEGINNING OF THE PROPERTY TAX YEAR. A TIME WHEN TAX RATES AND BUDGETS ARE SET, NOTICES GO OUT, AND TAXES ARE COLLECTED. IN MANY WAYS, FIRST NATION PROPERTY TAX LOOKS A LOT LIKE THE BC LOCAL GOVERNMENT PROPERTY TAX. BOTH ARE RECURRENT AND AD VALOREM BASED. BOTH USE BC ASSESSMENT AND HAVE ASSESSMENT APPEAL TRIBUNALS. BUT AS MUCH AS THERE ARE SIMILARITIES, FIRST NATION PROPERTY TAX HAS A DIFFERENT HISTORY, A DIFFERENT LEGISLATIVE MAKE-UP, AND PERHAPS MOST IMPORTANTLY, A DIFFERENT RAISON D’ÊTRE - IT CONTINUES TO SERVE AS A PILLAR FOR INDIGENOUS SELF-GOVERNMENT.

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Over thirty-five years ago and after decades of BC First Nations asserting the right to tax on the reserve, then Chief C.T. (Manny) Jules, led a series of initiatives to enable First Nation property taxation. The first initiative (Bill C-115 or the “Kamloops Amendment”) dealt with changes to the Indian Act introduced in 1988 to remove barriers that hindered First Nations to tax on their lands. The second legislative initiative led by Chief Jules was BC’s Indian SelfGovernment Enabling Act, 1990 which essentially provided First Nations with “tax room” on their lands and avoided the potential of double taxation.

Property taxation would then expand from just six First Nations in BC in 1990, to over 100 by 2015. This growth had spillover effects as First Nations from other parts of the country recognized the importance of property tax as a critical fiscal tool. Today, over 170 First Nations have established tax systems across the country, and nearly one hundred have done so in the past 15 years.

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While some First Nations have Treaty-based arrangements, most First Nation property tax is based on one of two pieces of federal legislation: section 83 of the Indian Act or the First Nations Fiscal Management Act, (FMA). Enacted in 2005, the FMA is a comprehensive fiscal framework that supports fiscal law-making including property tax jurisdiction. It enables First Nations to opt-in (a First Nation must request to be added to the FMA) and enact laws relating to any power specified in the FMA. Providing regulatory support to First Nations, the First Nations Tax Commission is a ten member-shared governance institution established under the FMA and led

by Chief Commissioner C.T. (Manny) Jules. With offices at T’kemlups te Secwepemc (near Kamloops, BC) and Ottawa, the Commission regulates and supports tax jurisdiction.

Its two key functions are to review and approve laws made under the FMA, and to review and recommend by-laws made under section 83 for ministerial approval.

Property tax along with other fiscal tools like development cost charges, property transfer tax, and debenture financing are core elements of the fiscal framework that supports economic growth. This exercise of an inherent governmental power means greater selfreliance, ensures community-designed goals are met, and reflects First Nation tradition and practice since time immemorial. For more information about First Nation property tax please visit www.fntc.ca.

TRENTON PAUL . Joining the FNTC in 2003, Mr. Paul is responsible for carrying out the Commission’s policy initiatives concerning the regulation and support of First Nation property taxation, as well as the Commission’s law development and technical review functions related to First Nation law-making under the First Nations Fiscal Management Act. This involves managing research and analysis, and working directly with First Nation governments, other governments, and other stakeholders in First Nation property taxation. Before joining the FNTC, Mr. Paul spent several years working with the Assembly of First Nations in support of the AFN-Canada National Table on Fiscal Relations.

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EXHIBITOR ARTICLE | JEFF MUIR

OPERATIONALIZING ASSET MANAGEMENT: THE BENEFITS OF AN ASSET MANAGEMENT STRATEGY FOR BC’S LOCAL GOVERNMENTS LOCAL GOVERNMENT DATA ENTRY REPORTING HAS ENCOURAGED BC GOVERNMENTS TO INVEST IN IMPROVING THEIR DATA, TOOLS, AND PROCESSES. WITH THE RESPONSIBILITY OF PROVIDING LOCAL SERVICES AND GOVERNANCE TO A DIVERSE AND EXPANSIVE POPULATION, LOCAL GOVERNMENTS MUST TAKE A SYSTEMATIC APPROACH TO ASSET MANAGEMENT. AS SUCH, STANDARDIZED ASSET MANAGEMENT PRACTICES COUPLED WITH EFFECTIVE COORDINATION AND ORGANIZATION ARE BECOMING PARAMOUNT FOR SUCCESS. Implementing an asset management strategy is not only recommended in the Asset Management for Sustainable Service Delivery Framework, but it is also an essential guide for municipalities to synchronize efforts and efficiently operationalize asset management practices. This strategic approach will be instrumental in ensuring local governments have great confidence in reporting, and most importantly, that their asset management plans (AMPs) are effectively implemented and reflect the diverse needs of BC communities.

The following diagram illustrates the general project path when developing a municipality’s asset management strategy:

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WHAT IS AN ASSET MANAGEMENT STRATEGY? An asset management strategy is a critical component of developing a high-functioning asset management program. An effective asset management strategy outlines current asset management (AM) practices, sets a practical future state, and provides staff with a project plan.

THE IMPORTANCE OF AN ASSET MANAGEMENT STRATEGY An asset management strategy holds significant importance to financial officers due to its multifaceted impact on long-term financial sustainability, risk management and decision-making, as discussed in more detail below.

Financial Sustainability: An asset management strategy looks at a municipality’s approach to lifecycle activities, including maintenance, rehabilitation and project prioritization, and the feasibility of current financial strategies. By strategically managing assets throughout their lifecycle, governments can optimize resource allocation, minimize unexpected costs, and measure progress toward long-term financial sustainability.

Risk Management: Effective asset management helps financial officers identify and mitigate risks associated with asset failure or underperformance. By conducting comprehensive assessments of asset condition and performance, staff can proactively address maintenance needs, reduce the likelihood of service disruptions, and minimize financial impacts resulting from asset failures. An effective strategy documents desired asset management strategies to assess risk and how it will be leveraged with short and long-term asset planning.

Data-Driven Decision Making: Evidence-based decisionmaking improves financial outcomes and service delivery efficiency. Through comprehensive asset inventories, condition assessments, and performance evaluations, they can make informed decisions regarding asset investments, maintenance strategies, and operational priorities. An AM

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strategy provides financial officers with insights into current data sets, including identifying gaps in data that may impact the reliability of decision-making.

An effective asset management strategy guides the municipality into prioritizing the collection of asset information that will provide greater confidence in reporting.

FINAL TAKEAWAYS When every department contributes to the development of an AM strategy, your staff’s unique insights and expertise enrich the process and foster a consensus on proposed changes, leading to a more robust and tailored strategy.

Furthermore, cross-departmental alignment ensures consistent data collection, analysis, and reporting processes, enhancing transparency and accountability. By engaging all departments, the municipality can harness collective knowledge, streamline operations, and ultimately optimize asset performance to serve the community’s needs better.

JEFF MUIR is a Regional Manager at PSD Citywide.

As Regional Manager, Jeff leverages his 15+ years of experience in asset management software and consulting to help clients bridge business challenges by using technology to deliver real lasting results. Jeff’s focus is on working with clients to evaluate their unique needs and consulting on how they can make practical and meaningful advancements in their practices related to asset management, maintenance management, permitting, and budgeting. Jeff has successfully completed his certification in asset management from The Institute of Asset Management.

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EXHIBITOR ARTICLE | ELIZABETH GILES

THE UNTAPPED POTENTIAL OF COMMUNITY-DRIVEN SOFTWARE SOLUTIONS IN MUNICIPAL GOVERNMENT LIKE MANY INDUSTRIES SINCE THE PANDEMIC, MUNICIPAL GOVERNMENTS ARE NAVIGATING AN ENVIRONMENT OF FINANCIAL, SOCIAL, AND TECHNOLOGICAL CHANGE. FROM TIGHTENING BUDGETS TO UNPRECEDENTED DEMANDS FOR TRANSPARENCY AND ACCESSIBILITY, LOCAL GOVERNMENTS ARE UNDER IMMENSE PRESSURE TO MODERNIZE. DIGITIZATION IS NO LONGER JUST AN ASPIRATION; IT’S A NECESSITY. HOWEVER, TRADITIONAL SOFTWARE PROCUREMENT MODELS OFTEN FALL SHORT OF ADDRESSING THE UNIQUE NEEDS AND VISION OF ITS INDUSTRY’S MOST VALUABLE RESOURCE – CITIZENS. A community-driven approach to software procurement acknowledges that the voice of the public is an influential force shaping the future of technology with which residents will regularly interact. By harnessing the power of community input, these solutions become more than just tools—they become living, adaptable systems that reflect the pulse and priorities of the societies they serve.

THE CONCEPT OF COMMUNITY-DRIVEN SOFTWARE At its core, a community-driven software approach is designed with – and for – the people. It’s an approach wherein software procurement is facilitated and influenced by a community of stakeholders, including citizens, local businesses, and public servants. This collaborative approach ensures that the software not only

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addresses specific challenges facing the community, but also enjoys a higher rate of adoption due to stakeholder involvement in its design and implementation. This approach also ensures better product longevity and return on investment.

ENSURING VALUABLE COMMUNITY INPUT This approach to procurement isn’t without its struggles.

Hurdles like time constraints, inefficient data collection, ineffective sample sizes, sample diversity, or even biased surveys can skew the final data. Fortunately, most of these obstacles can be overcome with diverse citizen representation and equal-opportunity participation.

Once you have a captive audience, create a comprehensive list of unbiased, open-ended questions that will give you the most detailed answers.

For example: 1. What features are most important to you in a selfserve municipal portal?

2. How often do you prefer to receive notifications about your property tax, utility billing, or licensing?

3. What are your concerns about online security and data privacy in using a self-serve system?

4. How important is it for you to have historical billing data accessible through the system?

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DEVELOPING A PLAN To make any project a reality, you’ll need to create a comprehensive plan. Consider forging strategic partnerships with neighbouring municipalities to exchange insights and best practices, establishing a transparent governance structure, and adopting agile implementation methodology practices. This approach allows for rapid adaptation based on real-time feedback from the community, ensuring that the software not only meets current needs but is also ready to evolve with future demands.

FINAL THOUGHTS The narrative around community-driven software is one of empowerment for both local governments and citizens. By leveraging the wealth of knowledge that is public opinion, municipalities can implement community-led solutions that not only achieve better outcomes but build a legacy of progressive governance rooted in transparency and citizen engagement. The ongoing challenge will be to infuse these principles into the very fabric of local governance, ensuring that technology always remains a servant to the people— and not the other way around.

This approach not only promises more effective and empowered governance but presents a rare opportunity to bridge the gap between citizens, software, and the institutions that bind them— resulting in technology that is truly by the people, for the people.

ELIZABETH GILES is a seasoned writer with over 10 years’ experience in the enterprise software industry, specialising in municipal and local governments. Driven by her passion for public sector innovation, Elizabeth is dedicated to empowering municipalities to leverage technology for greater efficiency and community impact.

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QUARTERLY QUESTION | CIVIC INFO BC

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quarterly question

FLEXIBILITY AND PERKS THE LATEST QUARTERLY QUESTION ASKED LOCAL GOVERNMENTS ABOUT THEIR APPROACH TO FLEXIBLE WORK ARRANGEMENTS AND INCENTIVES OR PERKS FOR ATTRACTION AND RETENTION OF STAFF. MORE THAN HALF OF ALL BC LOCAL GOVERNMENTS RESPONDED TO THE SURVEY. THE RESPONSES REVEAL THE LATEST INFORMATION, AS WELL AS LONG-TERM TRENDS FOR ATTRACTING AND RETAINING STAFF IN LOCAL GOVERNMENT EMPLOYMENT.

ADOPTION OF FLEXIBLE SCHEDULE AVAILABILITY Many local governments have embraced flexible schedule availability. Seventy five percent of respondents reported some form of flexible schedule availability, whether that was a four-day week or “flex days” for eligible staff members. A breakdown of the responses to flexible schedule availability is presented in Figure 1.

Figure 1: Type of schedule availability as a percentage of total responses.

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ATTRACTION AND RETENTION OF STAFF

LOOKING AHEAD

The Quarterly Question also asked about incentives or perks offered by local governments for attraction and retention of staff:

As local governments face retention and recruitment challenges, flexibility and employee perks will continue to be areas of focus for local governments. A supportive and attractive work environment benefits both employees and the communities they serve.

• 52 percent reported offering a housing incentive and/or relocation cost reimbursement.

• 10 percent reported offering some form of short-term accommodation for new staff.

• 68 percent offer a remote or hybrid work environment for eligible staff. A breakdown of the amount of remote work permitted by local government is presented in Figure 2.

Detailed results for this survey can be obtained by emailing surveys@civicinfo.bc.ca

Figure 2: Percentage of remote work available to eligible local government employees

THE NEXT QUARTERLY QUESTION WILL BE ON WATER METERS

Please use this link to be a contributor.

This short survey should only take 3-5 minutes to complete.

If you would like to contribute topics for upcoming questions, please contact office@gfoabc.ca or call (250) 382-6871.

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MEMBER SPOTLIGHT | GEOFF KREEK

GEOFF KREEK GEOFFREY KREEK IS THE DEPUTY DIRECTOR OF FINANCE IN THE TOWN OF COMOX. HE IS A PARTICIPANT IN MANY GFOABC PROFESSIONAL DEVELOPMENT OPPORTUNITIES AND WILL BE PART OF THE NEXT STRATEGIC FINANCIAL LEADERSHIP COHORT. IN THIS QUARTER’S EDITION OF THE MEMBER SPOTLIGHT, WE ASK GEOFFREY ABOUT HIS ROLE, THE IMPORTANCE OF LEADERSHIP IN LOCAL GOVERNMENT FINANCE AND WHAT HE IS LOOKING FORWARD TO IN THE STRATEGIC FINANCIAL LEADERSHIP PROGRAM.

DESCRIBE YOUR ROLE IN THE TOWN OF COMOX. HOW LONG HAVE YOU BEEN IN YOUR CURRENT ROLE AND IN LOCAL GOVERNMENT? I am the Deputy Director of Finance, I was promoted to the role in September of 2023, immediately became the Acting Director of Finance until the middle of February 2024 and now back to the Deputy role. In the Deputy role, I help prepare the financial statements, work with the auditors, fulfill legislative reporting requirements, complete grant reporting, oversee the Accounts Payable and Payroll functions, provide financial assistance to other departments, and help write reports to Council.

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HOW IMPORTANT IS LEADERSHIP IN A ROLE LIKE YOURS? The leadership portion of the job is very important. The team knows that I have their back when dealing with the public as well as making the right decisions for the department that will positively impact the current and future aspects of their roles within the Town.

AS A DEPUTY DIRECTOR WHAT IS THE MOST IMPORTANT DAY-TO-DAY LEADERSHIP SKILL YOU LEAN ON? The most used leadership skill would be listening. Team members will come to me when dealing with work problems that they have trouble solving or when dealing with personnel issues that arise from working with the variety of departments in Town. By being open to their concerns and helping them succeed in their roles, not only do they end up feeling more confident in themselves, but it also helps me feel better about my own role, knowing that I am passing along what I have been taught.

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WHAT HAVE YOU LEARNED ABOUT LEADERSHIP FROM COWORKERS AND MENTORS?

WHAT ARE YOU HOPING TO LEARN IN THE STRATEGIC FINANCIAL LEADERSHIP PROGRAM?

I had the greatest mentor in municipal government, Clive Freundlich. He was always calm under pressure, and his empathy towards staff created an environment that I really enjoyed coming to every day. Clive embodied what I find great about GFOABC membership in that he was willing to help everyone succeed and would take time out of his day to share his experience to resolve any issue.

Clive also showed me that it’s ok to ask for help, even when you’re the one at the top; it can’t be expected that you know everything, but someone out there has likely faced the same or similar problem and is most likely willing to help.

I hope to learn more about leading a Finance department in an ever-changing landscape and best practices for finance and risk management. I also want to grow my network so that I have other accountants to lean on in the future, as we’ll all have similar issues arising in the years ahead.

WHAT MADE YOU DECIDE TO PARTICIPATE IN THE STRATEGIC FINANCIAL LEADERSHIP PROGRAM? To fulfill my goal of becoming a Director of Finance, I know I need to grow my leadership experience and knowledge, and I knew that the GFOABC program would help me fill this gap. The ability to work with others with similar experiences and get access to mentors I wouldn’t normally meet on the job will help me grow in my current role while helping me develop new skills and identify areas for improvement.

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!

IF THERE IS SOMEONE IN YOUR ORGANIZATION THAT YOU’D LIKE TO RECOGNIZE IN THE SEPTEMBER MEMBER SPOTLIGHT, LET US KNOW. Contact office@gfoabc.ca.

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COLLECTOR’S CORNER | DOUG STEIN

Collector’s Corner:

2024 GFOABC CONFERENCE - COLLECTOR’S FORUM SESSION

THIS YEAR, THE COLLECTORS’ FORUM HELD AT THE 2024 GFOABC ANNUAL CONFERENCE IN KAMLOOPS WAS ATTENDED BY ABOUT 50 FINANCE OFFICERS. DOUG STEIN, GFOABC FACILITATOR, AND PATRICK GRAMIAK, REVENUE SUPERVISOR, CITY OF KELOWNA HOSTED THE SESSION. THE GUEST SPEAKERS WERE GRAHAM HELD FROM BC ASSESSMENT (BCA), MICHAEL MOLL FROM CIVIC LEGAL LLP, JOSHUA CRAIG FROM MINISTRY OF MUNICIPAL AFFAIRS AND TARA WIGEN, MARC CASTRO AND SAMANTHA TAYLOR FROM THE MINISTRY OF FINANCE.

Graham Held from BCA presented on the topics “2024 Revised Roll, Stated Cases Update, Non-Market Change, Self-Serve Reports Support and Local Government & First Nations Customer Service Standards”. Graham highlighted the assessment roll figures, including the graph that showed the 2024 Completed Roll acceptance rate is 99 percent - impressive! He also noted that BCA has improved their service standards such as improved performance metrics and encouraged collectors to contact him with any suggestions to improve assessment reporting.

Joshua Craig, Ministry of Municipal Affairs, updated the collectors on the status of the proposed legislation (LGA S647.1) that had been introduced (Bill 3 & 42 – 2023) as a response to the Ombudsperson’s Report, specifically that owners and chargeholders of property with delinquent property taxes must receive “notice” at least 90 days prior to the annual tax sale. Joshua reported that the legislation has been delayed until the 2025 taxation year. He acknowledged the hard work collectors already do to contact owners and that the additional material posted on the Ministry tax sale website is meant to be supplementary material. He also expressed appreciation to the collectors for their input regarding certain aspects of the legislation which will now be considered so that additional amendments can be made to make the legislation more workable.

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Michael Moll, Civic Legal LLP presented on the theme, “The Impact of Bankruptcy and Insolvency Proceedings on Tax Collection”. Firstly, Michael commented on the proposed tax sale legislation and referred to a paper he wrote that is posted on the Civic Legal LLP website for reference – “Legal Issues in Municipal Tax Sales - 2024 - Civic Legal LLP”. Michael then discussed the significance and legal implications of the federal legislation relating to bankruptcy and insolvency. He talked about what specifically to look out for, such as court orders containing a “stay.” His key take-away was don’t ignore anything that looks like an order in relation to receivership, proposal or bankruptcy.

Tara Wigen, Marc Castro and Samantha Taylor from the Ministry of Finance updated the collectors on the status of 2024 home owner grants (HOG), property tax deferments, and speculation and vacancy tax. Tara stated that some HOG applicants are rejected because of an address discrepancy and asked the collectors to inform taxpayers to contact the HOG Branch directly to resolve the matter. Based on a question from the collectors, Tara stated that when a HOG application is not approved, the legislation requires that the applicant must be notified specifically by letter. Other comments from the collectors included clarifying the wording when a HOG application is approved for a $0.00 amount, a reminder that Ministry call centre staff not tell taxpayers that the municipality can write off penalties, a suggestion to add a notation on the speculation tax web site to remind taxpayers to claim their HOG, and a question about a change regarding to the Notice of Disentitlement when a retro HOG is denied (which staff will investigate).

Thank you to GFOABC for providing this member benefit at the 2024 Annual Conference and the quarterly Collector’s Forum webinars. See you at the next Collector’s Forum webinar on July 24, 2024.

DOUG STEIN has worked in municipal finance for

over 30 years. In 2011 he retired from his position as Manager of Revenue Services for the District of Saanich. Doug leads the Collectors’ Forum, is a GFOABC Life Member, and a CPA, CMA.

BOARD OF DIRECTORS

INTRODUCING THE 2024-25 GFOABC BOARD OF DIRECTORS! NYLA ATTIANA Nyla has been the Chief Administrative Officer for the District of Tofino since 2022 and before that, served as their Chief Financial Officer for over 12 years. Nyla is GFOA of BC’s Past President and is chair of the Member Services Committee. Nyla sits as a board member for the Tofino Housing Corporation where the mandate is to provide affordable and attainable housing to the community. Being born and raised on Vancouver Island, the Island will be her lifelong home. She is honoured to live and work in the traditional territory of the Tla-o-quiaht First Nation (Tofino) with her family and can be found outside of work enjoying the outdoors and volunteering within the community.

JULIA ASPINALL Julia is the Director, Financial Services and Deputy Director of Finance at the City of Vancouver. She joined the City 3 years ago after working 20+ years in the private sector and found the local government sector inspiring and purposeful. Her transition from the private to public sector right at the onset of COVID reaffirmed her choice of making this leap with the evident impact and importance of local government has on its local communities and people. Julia has been an active member of the GFOABC since she joined local government and enjoys being part of this network where it brings together talented people who are passionate about local government. Julia’s part-time job is chauffeuring her kids to their activities while volunteering in non-profit organizations and hopes to be paid as a hobby gardener and an outdoor enthusiast one day.

CORRINE BOMBEN Corinne is the Chief Financial Officer at the City of Prince Rupert, her home town, and has held the position for 11 of her 13 years in local government. Prior to her adventures in municipal finance, she spent 14 years in public practice. Finding herself in a senior position at the municipality, actively helping to improve her home community is a surprising passion she feels fortunate

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to have stumbled across. A far cry from her early adult aspirations of international business, she finds fulfillment in helping to chart a course for community renewal and is blessed to have an amazing finance team assisting those efforts. Outside of City Hall, you can find Corinne playing hockey, walking her dog, and most recently, dipping her toe in musical theatre.

NICOLE GERVAIS Nicole Gervais is the Manager, Client Services with the Municipal Finance Authority of BC (MFA) and has extensive background in the financial services industry, serving over 18 years in various roles in commercial and retail banking. She is responsible for managing the Client Service functions of the MFA and supports a wide array of activities relating to investing, borrowing, and education.

The MFA, through its strong interest in building capacity in local government, and in conjunction with KMPG, is proud to be a founding member of GFOABC. Nicole is passionate about community outreach and has been fortunate to be able to support local non-profits through volunteering and securing donations and corporate sponsorships throughout her career in financial services. She has also had the honour of facilitating financial literacy and other community-focused programs. Prior to joining the GFOABC leadership, she sat on the Board of Directors for the Victoria Cool Aid Society.

DAVE HALLINAN David Hallinan, FCPA, FCMA is the Corporate Services Director and CFO for the City of Kamloops. His journey to municipal government finance has taken some interesting twists and turns through both the forest industry and a crowncorporation (BCLC). A self professed non-accounting accountant the role of Corporate Services Director provides developing strategic direction and oversight to many different aspects of the organization including Enterprise Risk Management, Information Technology, Legislative Services along with Finance. In his leisure time Dave enjoys spending time traveling, playing golf, mountain biking and cross-country skiing.

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ELIO IORIO

RIANNA LACHANCE

Elio embarked on his accounting journey in the private sector working for a local scale manufacturing company, honing his skills and gaining foundational knowledge that was instrumental in his public sector endeavors.

Transitioning to governmental roles, he has found a deep sense of purpose in contributing to the public good through financial expertise. Elio now has over two decades of experience in financial management within the government sector. Beginning at the Ministry of Children and Family Development, he played a pivotal role in shaping financial policies and strategies to support vital social services. Now with over 19 years of dedicated service in municipal finance at the District of North Vancouver, currently as the Manager of Financial Services, he possesses a profound understanding of the intricacies involved in managing finances at the local level. Beyond professional commitments, Elio is a devoted parent to three children, actively engaging in their diverse sporting/ arts pursuits as both a spectator and a coach. Elio’s passion for exploration extends beyond the realm of finance, as he seeks out new adventures to share with his family outside of the boardroom.

Rianna is the Senior Manager of Financial Services for the Capital Regional District, Capital Regional Hospital District and the Capital Region Housing Corporation.

She joined local government in 2011 after leaving private industry and has held a variety of roles both at the municipal and regional levels of local government.

Rianna is currently the Vice President of the GFOA BC Board of Directors and has always been an active member since joining local government. She is particularly passionate about the education of our members and continues to make direct contributions in support of the wide variety of professional development opportunities the GFOA BC delivers every year. Above all else she has a deep respect for the role GFOA BC has in supporting its’ members and the role its’ members have in improving the lives of British Columbians in communities across the province.

MIKE KENNEDY Mike Kennedy is a coffee-fueled, systems-thinking CPA, CA, passionate about making righteous mischief at the place where accounting and social impact meet. He currently serves as the Chief Financial Officer for the City of Rossland, British Columbia. His career journey to date has included twenty years of progressive leadership roles in public, private and third sectors. Immediately prior to taking on the role of CFO, Mike served as a tenure-track professor in accounting at Acadia University in Wolfville, Nova Scotia. He has also worked as an assurance, strategy and operations consultant with Deloitte, a public servant with the Province of Nova Scotia (Departments of Health, Finance, and Public Engagement Support Unit) and been owner of a number of small businesses, including a bacon sandwich shop on the Halifax waterfront. In his spare time, he loves cycling, cooking, playing music and is a marginally talented but highly enthusiastic skier.

LENORA LEE Lenora is an audit partner with KPMG in Victoria where she provides financial statement audit and advisory services relating to technical accounting, internal audit, and internal control for private companies, not-for-profit and public sector organizations. Lenora has been an important contributor to the success of the Government Finance Officers Association of British Columbia (GFOABC). She has served on GFOABC’s Board since 2015 and over her Board tenure, Lenora has also served on the Finance & Administration, External Relations, and Education Committees. Lenora not only shares her time and expertise with GFOABC and its members, but she is also active in the community, serving as a director with the Royal BC Museum since 2021 and as an ambassador for the University of Victoria from 2002 to today. In 2021 Lenora was awarded the fellowship designation (FCPA) by CPABC for her many outstanding professional achievements and community contributions, and an Outstanding Contribution Award from GFOABC in 2022 for her support of GFOABC and its members.

Continued on page 36

JUNE | 2024

DOLLARS & SENSE PRESPECTIVE | 35

BOARD OF DIRECTORS Continued from page 35

JEFFREY LOVELL Lenora is an audit partner with KPMG in Victoria where she provides financial statement audit and advisory services relating to technical accounting, internal audit, and internal control for private companies, not-for-profit and public sector organizations. Lenora has been an important contributor to the success of the Government Finance Officers Association of British Columbia (GFOABC). She has served on GFOABC’s Board since 2015 and over her Board tenure, Lenora has also served on the Finance & Administration, External Relations, and Education Committees. Lenora not only shares her time and expertise with GFOABC and its members, but she is also active in the community, serving as a director with the Royal BC Museum since 2021 and as an ambassador for the University of Victoria from 2002 to today. In 2021 Lenora was awarded the fellowship designation (FCPA) by CPABC for her many outstanding professional achievements and community contributions, and an Outstanding Contribution Award from GFOABC in 2022 for her support of GFOABC and its members.

KELLY LOWNSBROUGH Kelly is the Chief Financial Officer and Director of Corporate Services at the Fraser Valley Regional District.

In her role, Kelly oversees the Finance, Human Resources, Information Technology and Communications teams. In addition to being a CMA and CPA, Kelly holds a Graduate Certificate in Executive Coaching from Royal Roads University. Kelly has a passion for people and prides herself on being a part of the learning and development of others. She has a willingness to challenge the status quo, is innovative and focuses on relationship building and has a growth mindset. Kelly reflects most proudly on the moments where her teams made progress, where they developed and advanced their skills and knowledge, made improvements and accomplished goals. Kelly is passionate about her family and enjoying the moments along the way; camping, travel, exploring and learning new things including having recently started piano

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lessons. Kelly believes in giving back to the community by sharing knowledge and insights. She was happy to have volunteered with GFOABC’s External Relations Committee as well as Boot Camp in 2023 and looks forward to this year’s program. Outside of work, Kelly volunteers as a manager for her daughter’s hockey team and also volunteers with her school

CHARLOTTE OSBORNE Charlotte Osborne, CPA, CGA, has been the Director of Finance and CFO for the City of Cranbrook since 2013.

She first joined the City team in 2006 as the Financial Services Manager. Before deciding to make the leap to local government, Charlotte worked for BDO Dunwoody, LLP as an audit manager. Charlotte’s accounting career started at Maki Staudt Chartered Accountants where she was hired as a co-op student, moving up to the position of senior manager before the firm was bought out by BDO Dunwoody. Charlotte was late to the accounting table, the first ten years of her work-life were spent with the federal government working in employment programming and GST collections. Charlotte was one of the original members of a group that built an 18-unit condominium on the beach in rural Mexico. A project that was at times a great source of frustration, but one that has ultimately resulted in a cherished home-away-from-home.

TALITHA SOLDERA Talitha has been in local government finance for 22 years beginning with the Ministry of Municipal Affairs and is now the General Manager of Corporate Services for the District of North Cowichan; overseeing the Legislative Services, Information Management, Information Technology, Human Resources and Finance Departments. Talitha enjoys sharing her experience working in both Regional Districts and Municipalities with those attending GFOA Bootcamp each year. Talitha also actively contributes to organizations supporting women, volunteering on the Board of the Cowichan Women Against Violence Society for many years.

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