Decision Letter |
|
Budget Committee |
Meeting No. | 53 | Contact | Kelly McCarthy, Committee Administrator | |
Meeting Date |
Wednesday, March 26, 2014 |
Phone | 416-392-4666 | |
Start Time |
9:30 AM |
buc@toronto.ca | ||
Location |
Committee Room 1, City Hall
|
Chair | Councillor Frank Di Giorgio |
BU53.7 | ACTION |
Adopted |
|
Ward:All |
Association of Community Centres Settlement of Operating Results for Year 2012 |
Committee Decision | |
The Budget Committee recommends to the Executive Committee that:
1. City Council direct that the accumulated surpluses of $526 from two Association of Community Centres (AOCCs) centres be paid to the City of Toronto and be used to partially fund the payment of operating deficits of $117,998 for the core administration operations of the other eight centres, resulting in a net payment of $117,472 for operating over-expenditures as detailed in Appendix 1 of the report (March 12, 2014) from the Deputy City Manager and Chief Financial Officer. |
|
Origin |
(March 12, 2014) Report from the Deputy City Manager and Chief Financial Officer |
Summary |
This report recommends settlement with the 10 Community Centres (Association of Community Centres or AOCCs) on their Core Administration Operations for 2012 based on audited financial results. |
Financial Impact |
The total surpluses of $526 from two Community Centres will partially offset the funding of deficits totalling $117,998, resulting in a net payment of $117,472 from the City to the AOCCs in 2014 arising primarily from the Core Administration Operations’ year end results for 2012. The deficit payment will be funded from City under-expenditures reported through the final 2013 year-end operating variance results. |
Background Information |
(March 12, 2014) Report and Appendix 1 from the Deputy City Manager and the Chief Financial Officer on Association of Community Centres Settlement of Operating Results for Year 2012 (http://www.toronto.ca/legdocs/mmis/2014/bu/bgrd/backgroundfile-67540.pdf) |