Audit & Finance Committee -...
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Audit & Finance Committee
March 8, 2018, 10:30 a.m. - noon
Edmonton Metropolitan Region Board Office
#1100 Bell Tower, 10104 — 103 Avenue
Capital Region Boardroom
1. Opening
1.1 Quorum
Action: Confirmation
Lead: Chair Doblanko
1.2 Call to Order
Action: Declaration
Lead: Chair Doblanko
1.3 Chair’s Opening Remarks
Action: Information
Lead: Chair Doblanko
2. Approval of AgendaAction: Approval
Lead: Chair Doblanko
3. Approval of MinutesAction: Approval
Lead: Chair Doblanko
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4. Finance
Recommended Motion: That the Audit & Finance Committee approve the March 8, 2018 meeting agenda.
Recommended Motion: That the Audit & Finance Committee approve the January 11, 2018 meeting minutes.
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4.1 Grants Analysis Action: Recommendation
Lead: Chair Doblanko / CEO Bruce
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5. CEO UpdateAction: Information
Lead: CEO Bruce
5.1 Hawkings Epp Dumont LLP Name Change
5.2 Business Plan Update
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6. Next Meeting
May 10, 2018, 1:00 – 3:00 p.m., EMRB Office
7. In CameraAction: ApprovalLead: Chair
8. AdjournmentAction: ApprovalLead: Chair
Recommended Motion: That the Audit & Finance Committee endorse and recommend the Adjusted 2018/19 Budget to Edmonton Metropolitan Region Board for approval.
Recommended Motion: That the Audit & Finance meeting of March 8,
2018 be adjourned.
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Audit & Finance Committee Meeting Minutes: Thursday, January 11, 2018 Page 1 of 3
Audit & Finance Committee
Thursday, January 11, 2018 9:00 a.m. – 11:00 a.m.
Capital Region Boardroom, EMRB Office 1100 Bell Tower, 10104 103 Avenue, Edmonton
Members: Tanni Doblanko, Leduc County (Chair) Ray Ralph, Town of Devon John Stewart, Town of Beaumont Michael Walters, City of Edmonton
Regrets: Wes Brodhead, City of St. Albert (Vice Chair)
CRB Staff & Consultants: Malcolm Bruce, CEO (Acting Chair) Neal Sarnecki, Project Manager Sharon Shuya, Project Manager Loreen Lennon, Communications Manager Leslie Chivers, Operations Manager Charlene Chauvette, Office Manager Taylor Varro, Municipal Planning Intern Amanda Borman, Executive Assistant
Ex-Officio:
Jodi Abbott, Board Chair
Guests: Lindsey Butterfield, City of Edmonton Trevor Duley, City of St. Albert Jordan Evans, Leduc County Larissa Hepp, Sturgeon County Marnie Lee, Strathcona County Avril McCalla, City of Edmonton Mike Schwirtz, Town of Beaumont Julie Vizbar, Leduc County
1. Opening
1.1 Quorum
Quorum achieved.
1.2 Call to Order
Acting Chair Bruce called the meeting to order at 9:02 a.m.
1.3 CEO Opening Remarks
Acting Chair Bruce advised members that there are two handouts and one update to Item 3.4 for the meeting.
Item 3
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Audit & Finance Committee Meeting Minutes: Thursday, January 11, 2018 Page 2 of 3
2. Approval of Agenda
Motion: That the agenda of January 11, 2018 be approved as amended to include the update to Item 3.4. Moved by: Mayor Ray Ralph, Town of Devon Decision: Carried unanimously
3. Governance
3.1 Selection of Chair
Motion: That the Audit & Finance Committee appoint Mayor Tanni Doblanko to the Chair position and recommend that the Edmonton Metropolitan Region Board endorse and reaffirm that appointment. Moved by: Councillor Michael Walters, City of Edmonton Decision: Carried unanimously
Motion: That the Audit & Finance Committee direct Administration to destroy the ballots. Moved by: Councillor Michael Walters, City of Edmonton
Decision: Carried unanimously
3.2 Selection of Vice Chair
Motion: That the Audit & Finance Committee appoint Councillor Wes Brodhead to the position of Vice Chair. Moved by: Councillor Michael Walters, City of Edmonton Decision: Carried unanimously
3.3 Audit & Finance Committee Terms of Reference
Comment: The Terms of Reference were revised by the Audit & Finance Committee (page 2, paragraph 3, changed “appointed” to “confirmed”)
Motion: That the Audit & Finance Committee endorse and recommend the revised Audit & Finance Committee Terms of Reference to the Edmonton Metropolitan Region Board for approval. Moved by: Mayor Ray Ralph, Town of Devon Decision: Carried unanimously
3.4 Appointment of Auditors
Comment: There were only 2 responses to the RFP. King & Company is a smaller local company but has the depth to fulfill the RFP. They would also represent a change after six years with our previous accountant.
AFC2018-01
AFC2018-02
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Audit & Finance Committee Meeting Minutes: Thursday, January 11, 2018 Page 3 of 3
Motion: That the Audit & Finance Committee endorse and recommend the appointment of King & Company, Chartered Accountants to the Edmonton Metropolitan Region Board for approval. Moved by: Councillor Michael Walters, City of Edmonton Decision: Carried unanimously
4. Finance
4.1 2018/19 Initial Budget and Workplan
Comment: The CEO informed the committee that a grant analysis is being conducted. Administration will confirm and develop scenarios for the Audit & Finance committee to review for an ultimate recommendation to the Board.
Motion: That the Audit & Finance Committee endorse and recommend the 2018/19 Initial Budget and Workplan to the Edmonton Metropolitan Region Board for approval.
Moved by: Mayor John Stewart, Town of Beaumont Decision: Carried unanimously
4.2 2018-22 Business Plan
CEO Bruce reviewed the first draft of the 2018-22 Business Plan with the members of the Audit & Finance Committee.
5. CEO Update
No further updates from CEO Bruce.
6. Next Meeting
Thursday, March 8, 2018 at 1:00 – 3:00 p.m., Capital Region Boardroom, EMRB Office
7. In Camera
Chair Abbott reviewed the conditions for going in camera with members of the Audit & Finance Committee. The Audit & Finance Committee members were in support of the addition of in camera sessions and this item is to be brought in front of the Board for consideration.
8. Adjournment
The Chair declared the meeting adjourned at 10:24 a.m.
Committee Chair, Tanni Doblanko
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Administration Recommendation to the Audit & Finance Committee March 8, 2018
Grants Analysis
That the Audit & Finance Committee endorse and recommend the Adjusted 2018/19 Budget to Edmonton Metropolitan Region Board for approval.
Background EMRB Management engaged Metrix Group LLP (the “Metrix”) formerly known as Hawkings
Epp Dumont LLP to perform a grant analysis of grants received and spent, to reconcile andcheck the allocations of funds to specific projects in order to ensure the accuracy of thegrant carry-over amounts and the programs and projects to which EMRB is committed. Thepurpose of this analysis is to assist EMRB management in developing future financialstrategy.
The findings from the grant analysis have identified the Edmonton Metropolitan RegionBoard has $2,382,883 in uncommitted deferred revenue.
EMRB Administration has reviewed the Strategic Direction of the Board from the StrategicPlanning Retreat on February 8, 2018 and has identified some options for the Board’sconsideration.
The following table outlines three scenarios for the investment of the uncommitted differedrevenues, including establishing a Board Initiatives Reserve Fund, completing more of theBoard’s identified priority projects, and re-evaluating Membership Contributions, alone or incombination with other options.
Item 4.1
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Administration Recommendation to the Audit & Finance Committee March 8, 2018
Reserves Projects Membership Contributions $300,000 Board Initiatives
Reserve Fund is anuncommitted Reserveaccount established for thepurpose of providingfunding to Board Initiativesthat are not allocated for inthe normal budget cycle.
(Policy F007)
$500,000 Shared Investment for Shared BenefitNote - 2 year project and requires 1 FTE – Regional Project Manager with economist background. Once this project is completed this PM will address future work on Cost of Growth. Projected budget does not include FTE. It is recommended that the Shared Investment for Shared Benefit Project be a Board Project as opposed to forming a Task Force
$300,000 Energy – Phase 2Note – Supported by 1 contracted position for 1 year
$100,000 Broadband – Phase 2Note - $50,000 is in approved 2018/2019 Budget for a Gap Analysis, additional funding needed to develop a Regional Strategy
$140,000 Regional Agriculture Master PlanNote - Full Funding to support approved project
$250,000 KPI Development to create a web based measurementdashboard Note - Supported by 1 contracted position for 1 year
($85,000) Housing Symposium
TOTAL INCLUDING RESERVE $1,505,000
Deferred Projects to be reviewed against organizational capacity in future years
Cost of Growth Housing Symposium
Additional Costs
$90,000 addition of 1 FTE - Regional Project Coordinator to support up to 5regional project managers
Membership contributions canbe revisited over a multi-yearbudget and is dependent onfunding levels from theGovernment of Alberta
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Administration Recommendation to the Audit & Finance Committee March 8, 2018
The remaining unallocated funds will be used for:
o Minor Office Renovations - $50,000
o Board and Committee Collaboration Events - $30,000
o Additional Meeting Costs to support additional Projects over a two year period (i.e.meetings rooms, per diems, food & beverage, etc.) - $65,000
Also, Partnerships will continue with post secondary institutions to support projects asopportunities arise.
. Rationale
Board can deliver on strategic priority projects, moving the Region forward
Can build organizational capacity and support succession planning
Attachments
1. Proposed 2018-2021 Adjusted Budget
2. Draft 3 Year Work Plan and Budget
3. Policy F007 - Reserves
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DRAFT 2018-2021 Adjusted Budget
Revenue
2018/19 Budget
Approved
2018/19 Budget
Adjusted
2019/20
Adjusted
2020/21
AdjustedGOA Operating Grant 2,000,000.00$ 2,000,000.00$ 2,000,000.00$ 2,000,000.00$ GOA Planning Intern Grant 43,000.00$ -$ 43,000.00$ 24,000.00$ 13 Member Contribution 1,351,000.00$ 1,351,000.00$ 1,468,000.00$ 1,428,000.00$ Non-committed funds -$ 2,382,883.00$ -$ Carry over -$ -$ 564,776.45$ 323,868.70$ Total Revenue 3,394,000.00$ 5,733,883.00$ 4,075,776.45$ 3,775,868.70$
ExpendituresBoard & CommitteeBoard & Committee Collaboration Events -$ 30,000.00$ -$ -$ Honorarium 25,400.00$ 25,400.00$ 25,400.00$ 25,400.00$ Meetings 17,500.00$ 17,500.00$ 17,500.00$ 17,500.00$ Additional Meeting Support -$ 32,500.00$ 32,500.00$ -$ Travel 12,000.00$ 12,000.00$ 12,000.00$ 12,000.00$ Chair Retainer 80,000.00$ 80,000.00$ 80,000.00$ 80,000.00$ Total Board & Committees 134,900.00$ 167,400.00$ 167,400.00$ 134,900.00$
Salaries and benefits* 1,586,706.55$ 1,826,706.55$ 1,881,507.75$ 1,937,952.98$ Office lease 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ Professional fees - Legal/Advisory 55,000.00$ 55,000.00$ 55,000.00$ 55,000.00$ Travel/ Professional Development 30,000.00$ 30,000.00$ 30,000.00$ 30,000.00$ Information technology 25,000.00$ 25,000.00$ 25,000.00$ 25,000.00$ DMS/Records Management 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ Office Communications 38,000.00$ 38,000.00$ 38,000.00$ 38,000.00$ Office Supplies 30,000.00$ 30,000.00$ 30,000.00$ 30,000.00$ Operational -$ -$ -$ -$ Insurance 8,000.00$ 8,000.00$ 8,000.00$ 8,000.00$ Meetings - Non Board/Committee 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ GIS 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ Bank Charges and interest 2,000.00$ 2,000.00$ 2,000.00$ 2,000.00$ Other expenses 8,000.00$ 8,000.00$ 8,000.00$ 8,000.00$ Total Administration 2,142,706.55$ 2,382,706.55$ 2,437,507.75$ 2,493,952.98$
Regional MandateCompliance 56,000.00$ 56,000.00$ 47,000.00$ 51,000.00$ Education 50,000.00$ 50,000.00$ 50,000.00$ 50,000.00$ Communications 70,000.00$ 70,000.00$ 80,000.00$ 70,000.00$ GP Implementation 335,000.00$ 335,000.00$ 205,000.00$ 205,000.00$ Regional Projects** 439,000.00$ 354,000.00$ 590,000.00$ 485,000.00$ REF 100,000.00$ 100,000.00$ 125,000.00$ 125,000.00$ Total Regional Projects 1,050,000.00$ 965,000.00$ 1,097,000.00$ 986,000.00$
Additional Regional Projects***Board initiatives reserve -$ 300,000.00$ -$ -$ Shared investment for shared benefit -$ 500,000.00$ -$ -$ Energy - phase 2 -$ 300,000.00$ -$ -$ Broadband - phase 2 -$ 100,000.00$ -$ -$ Regional Ag Master Plan -$ 140,000.00$ -$ -$ KPI Dashboard development -$ 250,000.00$ -$ -$ Total Regional Projects -$ 1,590,000.00$ -$ -$
Capital and OtherPlanning Intern 50,000.00$ 14,000.00$ 50,000.00$ 50,000.00$ Office Furniture/Equipment -$ 50,000.00$ Total Capital and Other 50,000.00$ 64,000.00$ 50,000.00$ 50,000.00$
Total Expenditures 3,377,606.55$ 5,169,106.55$ 3,751,907.75$ 3,664,852.98$
Unallocated FundsSurplus (Deficit) 16,393.45$ 564,776.45$ 323,868.70$ 111,015.72$ Accumulate surplus beginning of yearAccumulate surplus end of year
* Additional FTEs become part of operational budget in 2021/2022** Difference due to removing Housing Symposium for 2018/19*** Projects funded in 2018/19 but can be multi-year
Item 4.1Attachment 1
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DRAFT 3 Year Work Plan and Budget
Line # Ref. DRAFT 2017‐2021 Work Plan Resources 2017/2018 2018/2019 2019/2020 2020/2021
Mandatory A
1 Edmonton Metropolitan Region Growth Plan (EMRGP) 30,000$
2Edmonton Metropolitan Region Servicing Plan & Implementation Oversight
EMRB/CAO/ Muni/ Facilitator
20,000$ 150,000$ 50,000$
3 Public Engagement Policy EMRB/CAO 20,000$
4 REF EMRB/External 100,000$ 100,000$ 125,000$ 125,000$
5 Compliance EMRB 35,000$ 41,000$ 47,000$ 51,000$
6 2 Year Update of EMRGP EMRB/Muni 50,000$ 7
Mandatory B
8 Monitoring & Reporting EMRB 25,000$ 25,000$ 25,000$
9 Board Information EMRB/External 27,500$ 50,000$ 50,000$ 50,000$
10 Advocacy ‐ includes Energy Corridors EMRB/Board/External 30,000$ 20,000$ 30,000$ 20,000$
11 Communications 80,000$ $ 50,000 50,000$ 50,000$
12 Transportation Prioritization List Transition Year
13 IRTMP Update 150,000$ 100,000$
14 Growth Plan Implementation 20,000$ 130,000$ 130,000$ 130,000$
Discretionary A
15 Board Strategic PlanEMRB/CAO/Board/
Facilitator $ 5,000 $ 15,000
16 Agriculture Master Plan EMRB/ External/CAO/ Muni
134,000$ 134,000$
17 Land Evaluation and Site Assessment (LESA) 75,000$
18Integrated Regional Opens Spaces Master Plan (Recreation & Wildlife) Corridors 100,000$ 100,000$
Economic Development Entity 50,000$
Discretionary B
19 Public Transit Cost Sharing Formula Review EMRB/CAO/Muni20 Regional Housing Symposium* EMRB/External ‐$ ‐$ 50,000$ 21 Regional Transit ‐ Congestion Management Phase 2 EMRB/External 100,000$ 22 Regional Housing Plan ‐ Phase 4 ‐ Final Phase EMRB/ External 130,000$ 23 Our Affordable Future Implementation EMRB/Muni 35,000$ 35,000$ 24 Shared Investment for Shared Benefit EMRB/External25 Regional Broadband Needs Assessment EMRB/External 50,000$
26 Exploration of Best Practices to Build Complete CommunitiesEMRB/External
50,000$
27 Regional Infrastructure Master Plan EMRB/CAO/ Muni/External
200,000$
28 Regional Economic Competitiveness Analysis EMRB/External 50,000$ 29 Specialized Transit ‐ Cost Benefit Analysis 50,000$
Cost of GrowthExternal = Consultants/ or other Subject Matter Experts
TOTALS 501,500$ 965,000$ 1,097,000$ 986,000$
Additional Regional ProjectsBoard Initiatives Reserve N/A 300,000$
Shared Investment for Shared BenefitEMRB/CAO/BOARD/
Facilitator500,000$
Energy ‐ Phase 2 EMRB/External 300,000$ Broadband ‐ Phase 2 EMRB/External 100,000$
Regional Agriculture Master PlanEMRB/ External/CAO/
Muni140,000$
KPI Dashboard Development EMRB/External 250,000$ TOTALS ‐$ 1,590,000$ ‐$ ‐$
DefinitionsMandatory A list initiatives are those outlined in the EMRB Regulation
Mandatory B list initiatives are operationalized and core initiatives that support Mandatory A initiatives
Discretionary A list projects are projects the Board has identified as priority
Discretionary B list are the residual projects to be addressed when resources are available (time, $ and people)
*Housing Symposium removed for 2018/19
EMRGP completed October 2016 awaiting Provincial Approval. Budget is for updating of Growth Plan to reflect the change in membership ‐includes design, production and printing costs.
NOTES ‐ all project estimates are subject to change based on Approved Terms of Reference
TOR start 2018/2019; project completion 2019/2020
Terms of Reference (TOR start 2017. Project Completion 2 years from Approval (est. 2019/2020)
Project completed in 2018
Budget for REF increases due to increased volume and anticipated oversight of Metro Servicing Plan Component
Ongoing as specified in Regulation e.g. Annual report
2 Years following Provincial Approval, estimate 2020/2021 may include Ag Master Plan, and SSAs as examples
Revise KPI to align with EMRGP and Update KPI to align with Strategic Plan and in 2019/2020 the creation of an online Dashboard.
Includes Board Retreat for Strat Plan and up to 3 education session per year on emerging topics
Energy Corridors Forum Q1 2018 and ongoing Advocacy
2018 Transition Year, budget includes changes to Brand and Growth Plan.
Revise Criteria to align with EMRGP and create new report of Transportation Priorities. Internal Function.
Effective once EMRGP is approved ‐ Includes additional work in the form of Regional Context Statements, Revised MDP's, review of non‐Stat Plans, Ag Impact Assessments and Special Study Areas. Coordinates with Projects M4 and M5 above. This is an addition of 1 FTE.
Environmental Scan starts Q4 2017, Strat Plan approved and effective July 2018
TOR Q4 2017, Project Completed in 2 years from approval, and approval of the Board Regulation. Estimate completion 2019/2020. Budget in 2018/2019 assumes matching funds from Province.
LESA component to begin following the completion of Ag Master Plan
TOR start 2019, project completed 2020, subject to Board priorities.
Need to review if applicable with change in Board membership
Project to be completed by Ec Dev Entity
Phase 1
Requires further discussion with Board as to CRB's role
Could be considered with IRTMP update
Item 4.1Attachment 2
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Policy F007 Reserves
Policy: F007 – Reserves
Effective Date: September 9, 2010
Approved by: Board
PURPOSE To establish specific reserves for emergent financial needs and to set aside funds for the replacement of existing equipment and future projects.
POLICY The Board recognizes that the ongoing commitment of funds to specific reserves provides for contingency funding and flexibility.
GUIDELINES
1. All reserve transactions, re-designations, revisions and new reserve requests must beratified by the Audit & Finance Committee.
2. All reserves must be fully described and must include a purpose, application and approval.Unless otherwise stated, all funds are considered committed for the specific purpose asoutlined by the reserve.
3. All reserve accounts must be represented in the Board’s financial statements.4. All reserves must be reviewed annually by the Chief Executive Officer and the Audit &
Finance Committee to determine if the reserves are still required. When the original intent ofthe reserve has been met or changed, any remaining amounts in the reserve shall, throughan appropriate review and approval process by the Chief Executive Officer, Audit &Finance Committee and the Board, be either returned to surplus or re-designated. The Audit& Finance Committee will approve and recommend any changes to reserves to the CRB.
5. Reserves can be funded from either internal or external sources.6. Interest will not be paid to these reserves; but will accrue to general revenue7. All expenditures from reserves must have prior approval through the annual operating or
capital budget; or from an approved carryover project; or by Board resolution.8. Approval to re-designate reserve funds or approval for inter-reserve transfers shall be
obtained prior to the transaction occurring through approval of the Audit & FinanceCommittee.
9. All Board reserves shall be administered by the Chief Executive Officer and in accordancewith generally accepted accounting principles.
Item 4.1Attachment 3
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Policy F007 Reserves
Nolan Crouse, Board Chair
Revisions Date Status Comments June 6, 2016 Amend Delegated ability to approve reserves to Governance
Priorities & Finance Committee September 8, 2016
Approve Approved by the Board
October 31, 2017
Amend Non-substantive changes to ensure compliance with the new MGA, Regulation, Growth Plan, and approved Board Governance Structure
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Hawkings Epp Dumont LLP is becomingMetrix Group LLP effective January 31, 2018.
Since our beginnings in 1962, the direction of our firm has been shaped and guided by several generations of partners. Through their effective leadership, we have been very fortunate to experience a significant amount of growth. To allow us even more room to grow, and to provide consistency to our clients as we continue to evolve, we look forward to many more years of growth as Metrix Group LLP.
WHAT’S NEW?
SOCIAL MEDIA
Our website will be updated to reflect our new name and will be overhauled with a brand new look and layout. The new website will be mobile friendly, easier to navigate, and will reemphasize use of our client portal for transfer of large files or sensitive client information.
With a new name comes a bit of change.
These are the main items to be aware of - no action is required on your part, aside from updating your records to include our new name, or passing on the news to anyone else that might need to know.
LOGO
With a new name comes a new logo. To leverage existing familiarity with our brand, no major changes have been made. The wordmark has been updated to say Metrix Group LLP and the CPA descriptive style has been revised to comply with recent legislation changes.
SIGNAGE
Each Metrix Group LLP office will be updated with new exterior signage to make sure our clients know where to find us. Interior signage will be updated at a later date.
WEBSITEmetrixgroup.ca
In tandem with the website domain change, our email addresses will be updated. This will not take effect until January 31st, so watch for the change. Our old email addresses will be forwarded to our new email addresses for one year, just in case you send something to an old account, we’ll still get it.
To expand the reach of our firm, we’re diving into the world of social media. Metrix Group LLP will have profiles on Facebook, Instagram, Twitter and LinkedIn. We look forward to following you, and sharing what we’re up to as well.
@metrixgroupllp
Item 5.1
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Our Partners deliberated long and hard in the selection of a name that would accurately represent our identity and cultivate positive meaning over time. The name ‘Metrix Group LLP’ has three significant components that work together to define our firm’s identity and communicate our values:
WHY ‘METRIX GROUP’?
METRICS
An ordinary word meaning a system or standard of measurement, ‘metrics’ speaks to our firm’s standard of providing excellent service in all circumstances. It represents our measurement of success through the relationships we establish with our clients and through our reputation as experts in our field.
GROUP
The word ‘group’ places emphasis on the contributions of our firm as a whole, rather than the contributions of a few individuals. Through effective leadership and teamwork, we thrive together. One key member of our team is our valued clients, who we look forward to serving for many years to come.
THE LETTER X
You’ll notice we made a slight alteration to the word ‘metrics’, ending instead with the letter X. In algebra, X represents an unknown value defined by solving an equation. This is similar in nature to the work we do for our clients. We use our knowledge of industry standards and best practices to solve for ‘X’ - we help our clients to make informed decisions in order to navigate through unique challenges.
X is also the symbol for multiplication, in this case representing growth. Our insightful analysis and precise measurement facilitates our clients’ growth, and our own, as we open new offices, hire new staff and mentor them in developing their careers.
Same direction since 1962.New name on January 31, 2018.
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