September 14, 1998

To:Strategic Policies and Priorities Committee

From:Audit Committee

Subject:Management Letter - Committee of Management for McCormick Playground Arena

Recommendation:

The Audit Committee on September 11, 1998, recommended to the Strategic Policies and Priorities Committee that the 1997 management letter and corresponding response relating to the audit of the financial statements of the Committee of Management for McCormick Playground Arena, be received and Council so advised.

The Audit Committee advises that the management letter and response were forwarded to all Members of Council with the agenda for the Audit Committee meeting held on September 11, 1998.

Background:

The Audit Committee had before it a report (June 24, 1998) from the City Auditor, forwarding the 1997 Management Letter and corresponding response relating to the audit of the financial statements of the Committee of Management for McCormick Playground Arena.

City Clerk

Ina Robinson 392-7031

Attachment

Item 4

June 24, 1998

To:Audit Committee

From:City Auditor

Subject:Committee of Management for McCormick Playground Arena -

Management Letter

Recommendation:

It is recommended that the 1997 management letter and corresponding response relating to the audit of the financial statements of the Committee of Management for McCormick Playground Arena, be received for information.

Comments:

The Auditor of the former City of Toronto has completed his 1997 audit of the financial statements of the Committee of Management for McCormick Playground Arena, for the year ended December 31, 1997. As a bi-product of his audit, the attached management letter was issued to the Chair of McCormick Arena. A response from the Chair of McCormick Arena has been received.

Conclusion:

I have reviewed both the management letter, as well as the response from the McCormick Arena. The comments contained in both letters will be addressed during our 1998 review of the McCormick Arena, in order to ensure that issues identified have been addressed.

Contact Name and Telephone No.:

John Woods, 392-7172.

Jeff Griffiths

City Auditor

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Encl.

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