AUDIT COMMITTEE

TOWN OF MARKHAM

Council Chamber, Markham Civic Centre

December 6, 2004

MINUTES

Attendance

Chair: Councillor S. Daurio Vice-Chair, Budget Councillor D. Horchik Vice-Chair, IT Reg. Councillor B. O’Donnell Members: Reg. Councillor J. Heath Councillor J. Virgilio Councillor K. Usman (1:20pm) Councillor A. Chiu Others: Mayor D. Cousens (1:15pm) Reg. Councillor J. Jones Councillor E. Shapero (1:30pm) Councillor J. Webster Councillor G. McKelvey (1:30pm)

J. Livey, Chief Administrative Officer C. Conrad, Town Solicitor A. Taylor, Commissioner of Corporate Services J. Sales, Commissioner of Community and Fire Services S. Birrell, Town Clerk B. Cribbett, Treasurer J. Lustig, Director of Financial & Client Services F. Wong, Manager, Financial Planning J. Kee, Committee Clerk

The Audit Committee convened at the hour of 1:05 p. m. with Councillor S. Daurio in the Chair.

DISCLOSURE OF INTEREST

None

1. 2003 MANAGEMENT LETTER (7.2)

Mr. Kevin Travers, KPMG, was in attendance and reviewed the Auditors' Management Letter for 2003, which included observations and recommendations from the auditing firm.

Ms. B. Cribbett, Treasurer, reviewed management's responses.

Moved by Councillor A. Chiu

Seconded by Councillor D. Horchik

That Council receive and approve the auditors' Management Letter for 2003, dated December 31, 2003;

CARRIED

2. 2004 AUDIT PLAN (7.2)

Mr. Kevin Travers, KPMG, gave a brief overview of the audit plan for 2004.

Moved by Councillor A. Chiu

Seconded by Councillor J. Virgilio

That the presentation of Mr. Kevin Travers, KPMG, with respect to the 2004 Audit Plan be received.

CARRIED

ADJOURNMENT

The Audit Committee adjourned at 1:30 p.m.