August 5, 1998

To:Audit Committee

From:City Auditor

Subject:Metropolitan Toronto Pension Plan and Metropolitan

Toronto Police Benefit Fund - Management Letter

Recommendation:

It is recommended that the 1997 management letter and the corresponding response relating to the audits of the accounts of the Metropolitan Toronto Pension Plan and Metropolitan Toronto Police Benefit Fund of the Department of Finance, be received for information.

Comments:

I have completed the 1997 audits of the accounts of the Metropolitan Toronto Pension Plan and Metropolitan Toronto Police Benefit Fund, for the year ended December 31, 1997. As a bi-product of my audit, the attached management letter was issued to the Chief Financial Officer and Treasurer of the Finance Department. A response from the CFO and Treasurer has been received.

Conclusion:

I have reviewed the response to the management letter prepared by the Finance Department. The responses are appropriate and will be followed up as part of our future audit work.

Contact Name and Telephone No.:

Rafiq Dosani, 392-8438.

Jeff Griffiths

City Auditor

CB:lm

Encl.

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