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.

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.

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.