City of Toronto Council and Committee Agenda Index

Agenda Index

Consolidated

Audit Committee

Meeting No.	8	Contact	Rosemary MacKenzie, Council Administrator
Meeting Date	Thursday, July 10, 2008	Phone	416-392-8021
Start Time	9:30 AM	E-mail	rmacken@toronto.ca
Location	Committee Room 1, City Hall

AU8.1

Presentation

Ward: All

City of Toronto - 2007 Audited Consolidated Financial Statements

Background Information

Report (June 24, 2008) from the Deputy City Manager and Chief Financial Officer - 2007 Audited Consolidated Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14401.pdf)
Appendix A - 2007 Consolidated Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14402.pdf)
Appendix B - Key Issues/Risks Facing the City of Toronto
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14403.pdf)
Appendix C - Five Year Summary of Consolidated Revenues and Expenditures
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14404.pdf)

AU8.2

Presentation

City of Toronto Audit Results - Year Ended December 31, 2007

Background Information

City of Toronto - Audit Results - Year Ended December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14447.pdf)

AU8.3

ACTION

Financial Statements for the Year Ended December 31, 2007 - Agencies, Boards and Commissions

3a	Exhibition Place - 2007 Consolidated Financial Statements and 2007 Audit Results

Background Information

Report (May 12, 2008) from the Chief Executive Officer, Exhibition Place, forwarding 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13633.pdf)
Consolidated Financial Statements - Board of Governors of Exhibition Place, December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13634.pdf)
Report (May 12, 2008) from the Chief Executive Officer, Exhibition Place, forwarding 2007 Audit Results
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13635.pdf)
Board of Governors of Exhibition Place, Audit Results for the year ended December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13636.pdf)

3b	Heritage Toronto - Financial Statements December 31, 2007

Background Information

Financial Statements for Heritage Toronto - December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14454.pdf)

3c	Toronto Hydro Corporation - Consolidated 2007 Annual Financial Statements

Background Information

Letter from City Council (June 25, 2008) forwarding Toronto Hydro's Consolidated 2007 Annual Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14448.pdf)
Cover report (May 14, 2008) from Deputy City Manager and Chief Financial Officer, submitting Toronto Hydro Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14449.pdf)
Consolidated Financial Statements - Toronto Hydro Corporation, December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14450.pdf)

3d	The Sony Centre for the Performing Arts - 2007 Audited Financial Statements

Background Information

Financial Statements for The Sony Centre for the Performing Arts - December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13638.pdf)
Audit Results Package - Sony Centre for the Performing Arts - December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14453.pdf)

3e	St. Lawrence Centre for the Arts - Financial Statements December 31, 2007

Background Information

Financial Statements - St. Lawrence Centre for the Arts, December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14455.pdf)

3f	Toronto Public Library - 2007 Financial Statements and Audit Results

Background Information

Report (May 29, 2008) from the City Librarian, Toronto Public Library, forwarding 2007 Financial Statements and Audit Results
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14505.pdf)
Audited Financial Statements - Toronto Public Library Board, December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14506.pdf)
Toronto Public Library Board, Audit Results for year ended December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14507.pdf)

3g	Toronto Transit Commission - Consolidated Financial Statements for the Year Ended December 31, 2007

Background Information

Letter (May 22, 2008) from the General Secretary, Toronto Transit Commission
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14451.pdf)
Toronto Transit Commission Report No. 1(d) dated May 21, 2008
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14452.pdf)
Consolidated Financial Statements - Toronto Transit Commission, December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14503.pdf)

3h	Toronto Zoo Board of Management - 2007 Financial Statements

Background Information

Cover report (May 22, 2008) from the Secretary, Board of Management of the Toronto Zoo, forwarding 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13808.pdf)
Consolidated Financial Statements - Board of Management of the Toronto Zoo, December 31, 2007 (Ernst & Young)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13809.pdf)

3i	Yonge-Dundas Square Board of Management - 2007 Financial Statements

Background Information

Financial Statements for the Yonge-Dundas Square Board of Management - December 31, 2007 (Grant Thornton)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-13637.pdf)

3j	Toronto Atmospheric Fund - Consolidated Financial Statements for the Year Ended December 31, 2007

Background Information

Financial Statements for the Toronto Atmospheric Fund - December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14634.pdf)

AU8.4

Information

Ward: All

City of Toronto Sinking Funds - 2007 Audited Financial Statements

Background Information

Sinking Fund - 2007 Audited Financial Statements, report (June 24, 2008) from the Treasurer
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14444.pdf)
City of Toronto Sinking Funds - Appendix A - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14445.pdf)
City of Toronto Sinking Funds - Appendix B - 2007 Audit Results
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14446.pdf)

AU8.5

ACTION

Ward: All

City of Toronto Trust Funds - 2007 Consolidated Financial Statements

Background Information

Report (June 25, 2008) from the Treasurer - Trust Funds - 2007 Audited Consolidated Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14397.pdf)
Trust Funds - Attachment A - 2007 Consolidated Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14398.pdf)
Trust Funds - Attachment B - 2007 Audit Results
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14399.pdf)

AU8.6

ACTION

Ward: All

Status of the Financial Audits of the City’s Agencies, Boards and Commissions for the Year Ended December 31, 2007

Background Information

Report (June 20, 2008) from the Auditor General - Status of the Financial Audits of the City's Agencies, Boards and Commissions for the Year Ended December 31, 2007
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14370.pdf)

AU8.7

Information

Ward: All

Inventory of Major Deposits

Background Information

Inventory of Major Deposits staff report
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14365.pdf)
Inventory of Major Deposits - Appendices A & B
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14366.pdf)

AU8.8

ACTION

Ward: All

Business Improvement Areas (BIAs) - 2007 Audited Financial Statements - Report No. 1

Background Information

Report (June 19, 2008) from the Treasurer and the Director, Small Business and Local Partnerships, Economic Development, Culture and Tourism - Business Improvement Areas - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14332.pdf)
Appendix A-1 - Bloorcourt Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14333.pdf)
Appendix B-1 - Bloor West Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14334.pdf)
Appendix C-1 - Bloor-Yorkville BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14335.pdf)
Appendix D-1 - Corso Italia BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14336.pdf)
Appendix E-1 - Danforth Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14337.pdf)
Appendix F-1 - Eglinton Hill BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14338.pdf)
Appendix G-1 - Harbord Street BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14339.pdf)
Appendix G-2 - Harbord Street Management Letter BIA
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14340.pdf)
Appendix H-1 - Korea Town BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14341.pdf)
Appendix I-1 - Lakeshore Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14342.pdf)
Appendix J-1 - Liberty Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14343.pdf)
Appendix K-1 - Little Italy BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14344.pdf)
Appendix L-1 - Mimico by the Lake BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14345.pdf)
Appendix M-1 - Old Cabbagetown BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14346.pdf)
Appendix N-1 - Parkdale Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14347.pdf)
Appendix O-1 - Queens Quay Harbourfront BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14348.pdf)
Appendix O-2 - Queens Quay Harbourfront Management Letter
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14349.pdf)
Appendix P-1 - Riverside BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14350.pdf)
Appendix Q-1 - Roncesvalles Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14351.pdf)
Appendix R-1 - Rosedale Mainstreet BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14352.pdf)
Appendix R-2 - Rosedale-Mainstreet Management Letter
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14353.pdf)
Appendix S-1 - Sheppard East Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14354.pdf)
Appendix T-1 - St. Clair Gardens BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14355.pdf)
Appendix U-1 - The Beach BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14356.pdf)
Appendix V-1 - The Danforth BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14357.pdf)
Appendix W-1 - Uptown Yonge BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14358.pdf)
Appendix X-1 - Yonge-Lawrence Village BIA - 2007 Financial Statements
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14359.pdf)
Appendix X-2 - Yonge-Lawrence Village Management Letter
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14360.pdf)
Appendix Y-1 - Summary Management Letter
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14361.pdf)

AU8.9

ACTION

Ward: All

Review of Affordable Housing Project at 2350 Finch Avenue West

Background Information

Report (June 23, 2008) from the Auditor General - Review of Affordable Housing Project at 2350 Finch Avenue West
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14406.pdf)
Appendix 1 - Review of Affordable Housing Project at 2350 Finch Avenue West
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14407.pdf)
Appendix 2 - Management's Response to the Auditor General's Review of Affordable Housing Project at 2350 Finch Avenue West
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14408.pdf)
Excerpt from the North York Community Council Minutes (November 13, 2002; May 7, 2003; and July 9, 2003) submitted by Councillor Giorgio Mammolit (New.AU8.9 i, ii and iii)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14678.pdf)
Photo, headed "48 Affordable Non-Profit Homes at Finch and Weston" submitted by the Director, Affordable Housing Office (New.AU8.9 a)
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14679.pdf)

AU8.10

ACTION

Ward: All

Managing the Risk of Overpayments in the Administration of Social Assistance, Toronto Social Services

Background Information

Report (May 13, 2008) from the Auditor General - Managing the Risk of Overpayments in the Administration of Social Assistance, Toronto Social Services
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14409.pdf)
Appendix 1 - Managing the Risk of Overpayments in the Administration of Social Assistance, Toronto Social Services
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14410.pdf)
Appendix 2 - Management's Response to the Auditor General's Review
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14411.pdf)

AU8.11

ACTION

Ward: All

Auditor General’s Status Report on Outstanding Audit Recommendations for City Divisions

Background Information

Auditor General's report (June 24, 2008) - Auditor General's Status Report on Outstanding Audit Recommendations for City Divisions
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14377.pdf)
Attachment 2 - Auditor General's Status Report on Outstanding Audit Recommendations for City Divisions
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14378.pdf)

AU8.12

ACTION

Ward: All

Auditor General’s Status Report on Outstanding Audit Recommendations for City Agencies, Boards and Commissions

Background Information

Report (June 1, 2008) from the Auditor General - Auditor General's Status Report on Outstanding Audit Recommendations for City Agencies, Boards and Commissions
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14380.pdf)
Appendix 1 - Board of Directors, Toronto Parking Authority
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14384.pdf)
Appendix 2 - Toronto Police Services Board
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14385.pdf)
Appendix 3 - Board of Health
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14386.pdf)
Appendix 4 - Toronto Public Library Board
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14387.pdf)
Appendix 5 - Board of Management of the Toronto Zoo
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14388.pdf)

12a	Toronto Public Library Response to Auditor General's Report – Results of Follow-up of Previous Audit Recommendations

Background Information

Report (June 30, 2008) from the City Librarian - Toronto Public Library Response to Auditor General's Report - Results of Follow-up of Previous Audit Recommendations
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14513.pdf)
Attachment 1 - Toronto Public Library, Audit Recommendations Fully Implemented
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14514.pdf)
Attachment 2 - Toronto Public Library - Audit Recommendations, Not Fully Implemented
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14515.pdf)

AU8.13

ACTION

Ward: All

Arenas – 2007 Audited Financial Statements and Management Letters

Background Information

AU8.14

ACTION

Ward: All

Community Centres – 2007 Audited Financial Statements and Management Letters

Background Information

AU8.15

Presentation

Ward: All

Progress Report on the City's SAP Implementation

Background Information

Progress Report on the City's SAP Implementation
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14422.pdf)

AU8.16

Information

Summary of Technical Contractor Expenses - Toronto Transit Commission

Background Information

Letter page 1 (June 25, 2008) from the Chief General Manager, Toronto Transit Commission
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14457.pdf)
Letter page 2 (June 25, 2008) from the Chief General Manager, Toronto Transit Commission
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14458.pdf)
Summary - TTC Technical Contractor Expenses
(http://www.toronto.ca/legdocs/mmis/2008/au/bgrd/backgroundfile-14459.pdf)