City of Toronto Logo 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
  E-mail 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)