October 27, 1998

To:The Audit Committee

From:City Auditor

Subject:Follow-up of 1997 Management Letter of the

Board of Governors of Exhibition Place

Recommendation:

It is recommended that the follow-up of the 1997 Management Letter and corresponding response from Exhibition Place be received for information.

Comments:

At its meeting of July 23, 1998, the Board's Finance and Audit Committee directed the City Auditor to conduct a follow-up review of the issues identified in his Management Letter dated March 13, 1998.

The attached follow-up of the 1997 Management Letter was reviewed in detail with the Finance and Audit Committees of the Board on October 23, 1998. In addition, a report entitled "Response to City Auditor's Follow-up Report" was prepared by Management.

Conclusion:

We have reviewed the response to the follow-up Management Letter prepared by the Director of Finance of Exhibition Place and are satisfied that the actions contemplated are appropriate.

Contact Name and Telephone No.:

Rafiq Dosani 392-8438

Jeff Griffiths

City Auditor

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