Item - 2018.EX35.13

Tracking Status

  • City Council adopted this item on June 26, 2018 without amendments.
  • This item was considered by the Executive Committee on June 19, 2018 and adopted without amendment. It will be considered by City Council on June 26, 2018.

EX35.13 - Toronto Community Housing Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements

Decision Type:
ACTION
Status:
Adopted
Wards:
All

City Council Decision

City Council on June 26, 27, 28 and 29, 2018, adopted the following:

 

1.  City Council treat the portion of the City Council meeting at which the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer is considered as the Annual General Meeting of the Shareholder for Toronto Community Housing Corporation by:

 

a.  receiving the Letter (April 30, 2018) from the Chair of the Board of Directors and the President and Chief Executive Officer, Toronto Community Housing Corporation to the Shareholder transmitting the Toronto Community Housing Corporation 2017 Annual Report and additional information, forming Attachment 1 and Confidential Attachment 5 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer;

 

b.  receiving Toronto Community Housing Corporation's 2017 Audited Consolidated Financial Statements for the period ending December 31, 2017, including the Auditor's report dated May 4, 2018, forming Attachment 2 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer; and

 

c.  appointing PricewaterhouseCoopers LLP, Chartered Accountants, as the Auditor for Toronto Community Housing Corporation for fiscal year 2018 at the fee provided in the City's agreement with that firm.

 

2.  City Council, as Shareholder, approve amendments to Toronto Community Housing Corporation's Financial Control By-law (By-law 3), forming Attachment 3 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer.

 

3.  City Council, as Shareholder, request the Toronto Community Housing Corporation to align its Financial Control By-law (By-law 3) with the City's financial management and control By-law once revisions are approved by City Council.

 

4.  City Council, as Shareholder, approve the dissolution of Toronto Community Housing Corporation subsidiaries Don Mount Court Development Corporation and Access Housing Connections Incorporated.

 

5.  City Council direct that the confidential information in Confidential Attachment 5 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in its entirety, as it deals with personal matters about an identifiable person.

 

6.  City Council direct the City Clerk to forward a copy of Toronto Community Housing Corporation's 2017 Audited Consolidated Financial Statements December 31, 2017, forming Attachment 2 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer, to the Audit Committee for information.

 

Confidential Attachment 5 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer remains confidential in its entirety in accordance with the provisions of the City of Toronto Act, 2006, as it relates to personal matters about an identifiable individual.

Confidential Attachment - Personal matters about an identifiable individual, including municipal or local board employees

Background Information (Committee)

(June 4, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Toronto Community Housing Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116155.pdf
Attachment 1 - Toronto Community Housing Corporation's 2017 Annual Report and Additional Information
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116262.pdf
Attachment 2 - Toronto Community Housing Corporation 2017 Audited Consolidated Financial Statements for the period ending December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116263.pdf
Attachment 3 - Request to Revise Toronto Community Housing Corporation's Financial Control By-law (By-law 3)
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116264.pdf
Attachment 4 - Don Mount Court Development Corporation (DMCDC), Access Housing Connections Incorporated (AHCI), and Toronto Community Housing Corporation Special Board Resolutions to Dissolve Corporations
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116265.pdf
Confidential Attachment 5 - Toronto Community Housing Corporation Executive Compensation Information

Motions (City Council)

Motion to Adopt Item (Carried)

Declared Interests (City Council)

The following member(s) declared an interest:

Councillor Jim Hart - as his spouse is an employee of Toronto Community Housing Corporation.

EX35.13 - Toronto Community Housing Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements

Decision Type:
ACTION
Status:
Adopted
Wards:
All

Confidential Attachment - Personal matters about an identifiable individual, including municipal or local board employees

Committee Recommendations

The Executive Committee recommends that:

 

1.  City Council treat the portion of the City Council meeting at which the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer is considered as the Annual General Meeting of the Shareholder for Toronto Community Housing Corporation by:

 

a.  receiving the Letter to the Shareholder from the Toronto Community Housing Corporation's Chair of the Board of Directors and President and Chief Executive Officer dated April 30, 2018 transmitting the Toronto Community Housing Corporation 2017 Annual Report and additional information, forming Attachment 1 and Confidential Attachment 5 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer;

 

b.  receiving Toronto Community Housing Corporation's 2017 Audited Consolidated Financial Statements for the period ending December 31, 2017, including the auditor's report dated May 4, 2018, forming Attachment 2 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer; and

 

c.  appointing PricewaterhouseCoopers LLP, Chartered Accountants, as the auditor for Toronto Community Housing Corporation for fiscal year 2018 at the fee provided in the City's agreement with that firm.

 

2.  City Council, as Shareholder, approve amendments to Toronto Community Housing Corporation's financial control By-law (By-law 3), forming Attachment 3 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer.

 

3.  City Council, as Shareholder, request the Toronto Community Housing Corporation to align its financial control By-law (By-law 3) with the City's financial management and control By-law once revisions are approved by Council.

 

4.  City Council, as Shareholder, approve the dissolution of Toronto Community Housing Corporation subsidiaries Don Mount Court Development Corporation and Access Housing Connections Incorporated.

 

5.  City Council direct that the confidential information contained in Confidential Attachment 5 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in its entirety, as it deals with personal matters about an identifiable person.

 

6.  City Council direct the City Clerk to forward a copy of Toronto Community Housing Corporation's 2017 Audited Consolidated Financial Statements December 31, 2017, forming Attachment 2 to the report (June 4, 2018) from the Interim City Manager and the Interim Chief Financial Officer, to the Audit Committee for information.

Origin

(June 4, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer

Summary

This report recommends the actions necessary to comply with the requirements of the Ontario Business Corporations Act (OBCA) for holding an Annual General Meeting of the Shareholder of Toronto Community Housing Corporation (TCHC), including receipt of Toronto Community Housing Corporation's 2017 Audited Consolidated Financial Statements and appointment of the auditor for Toronto Community Housing Corporation for 2018.

 

This report also recommends that Council approve the dissolution of two non-active Toronto Community Housing Corporation subsidiaries, and amendments to Toronto Community Housing Corporation's financial control By-law, as required under the Ontario Business Corporation's Act and the Shareholder Direction to Toronto Community Housing Corporation.

Background Information

(June 4, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Toronto Community Housing Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116155.pdf
Attachment 1 - Toronto Community Housing Corporation's 2017 Annual Report and Additional Information
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116262.pdf
Attachment 2 - Toronto Community Housing Corporation 2017 Audited Consolidated Financial Statements for the period ending December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116263.pdf
Attachment 3 - Request to Revise Toronto Community Housing Corporation's Financial Control By-law (By-law 3)
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116264.pdf
Attachment 4 - Don Mount Court Development Corporation (DMCDC), Access Housing Connections Incorporated (AHCI), and Toronto Community Housing Corporation Special Board Resolutions to Dissolve Corporations
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116265.pdf
Confidential Attachment 5 - Toronto Community Housing Corporation Executive Compensation Information

Motions

1 - Motion to Adopt Item moved by Councillor Ana Bail„o (Carried)
Source: Toronto City Clerk at www.toronto.ca/council