6)
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TO: Mayor and Council DATE: March 1, 197:

FROM: Finance Committee

The Finance Committee met on Monday, February 26, 1973. Present were Mayor
Scott, Alderman Ranger and Alderman Laking, L.D. Pollock City Administrator

and G. Forcier City Treasurer.

1. Payment of Grants

The Finance Committee reviewed the policy on payment of grants to organizations

in view of the experience of 1972 where grants were restricted.

Prior to 1972 guidelines had been established by the Council which assisted
the Finance Committee in making recommendations for the payment of grants.
This policy which was in effect up until 1972 permitted the Finance Committee
to consider and recommend to Council the payment of grants where
(1) the organization was a local organization or had local representation.
(2) it was organized primarily for educational, cultural or health and
welfare purposes.
(3) the grant was clearly of an advantage to the City by way of its promotional

value.

The Finance Committee used the above guidelines in making recommendations to
Council and any grant applications that did not fit the criteria were rejected

by the Finance Committee without reference to Council.

After considering the matter the Finance Committee are not prepared to recommend
any change in the grant policy in effect for 1972 and felt that Council as a

whole had deait with financial assistance to local organizations in a satisfactory

manner during the year.