Item - 2018.EX35.14

Tracking Status

  • City Council adopted this item on July 23, 2018 with amendments.
  • City Council considered this item on June 26, 2018 and postponed its consideration to a later date. Consult the text of the decision for further information on the deferral.
  • This item was considered by Executive Committee on June 19, 2018 and was adopted with amendments. It will be considered by City Council on June 26, 2018.

EX35.14 - Toronto Hydro Corporation - Annual General Meeting and 2017 Audited Financial Statements

Decision Type:
ACTION
Status:
Amended
Wards:
All

City Council Decision

City Council on July 23, 24, 25, 26, 27 and 30, 2018, adopted the following:  

 

1.  City Council treat that portion of the City Council meeting at which the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer is being considered as the Annual General Meeting of the Shareholder for Toronto Hydro Corporation, and in accordance with the proposed recommendations in the "Toronto Hydro Corporation Report on the 2017 Annual Shareholder Meeting" dated May 18, 2018 contained in Attachment 1 to report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer:

 

a.  approve the "Resolution of the Sole Shareholder Re-appointing Auditor" in Appendix A to Attachment 1 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer in order to re-appoint KPMG LLP, Chartered Accountants, as the Auditor for the Toronto Hydro Corporation for 2018 until the close of the next annual meeting of the Shareholder, or until a successor is appointed, at such remuneration as may be fixed by the Corporation's Board;

 

b.  receive the "Toronto Hydro Corporation 2017 Annual Report - Energizing Growth and Innovation," the "Toronto Hydro Corporation 2017 Financial Report dated December 31, 2017 including Toronto Hydro Corporation's Audited Consolidated Financial Statements and the Auditors' Report," the "Toronto Hydro Corporation Annual Information Form for the Year Ended December 31, 2017," the "Toronto Hydro Corporation 2017 Environmental Performance Report," the "Toronto Hydro Corporation Chief Executive Officer and Chief Financial Officer Certification of Annual Filings," the "Toronto Hydro Corporation First Quarter Financial Report dated March 31, 2018," and the "Toronto Hydro Corporation Statement of Remuneration and Expenses for Council Appointees for the Year Ended December 31, 2017," forming Attachments 2, 3, 4, 5, 6a, 6b, 12, and 13 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer;

 

c.  receive the "Toronto Hydro Corporation Report to the Shareholder for the Year Ended December 31, 2017," the "Toronto Hydro Corporation Non-Consolidated Financial Statements dated December 31, 2017," the "Financial Statements of Toronto Hydro-Electric System Limited dated December 31, 2017", and the "Financial Statements of Toronto Hydro Energy Services Inc. dated December 31, 2017", forming Confidential Attachments 7, 8, 9 and 10 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer; and

 

d.  receive the two-part report "Executive Compensation Disclosure Toronto Hydro Corporation 2017", forming Attachment 11a and Confidential Attachment 11b to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer.

 

2.  City Council direct that Confidential Attachments 7, 8, 9 and 10 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in their entirety due to the security of the property of the City and securities requirements arising from Toronto Hydro Corporation's status as an offering corporation under the Business Corporations Act, (Ontario) R.S.O. 1990, c.B.16, Toronto Hydro Corporation's status as a reporting issuer under the Securities Act, (Ontario) R.S.O. 1990, c.S.5, and the application by the Ontario Securities Commission of National Instrument 51-102.

 

3.  City Council direct that Confidential Attachment 11b to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in its entirety as it relates to personal matters about identifiable individuals.

 

4.  City Council direct the City Clerk to forward a copy of the "Toronto Hydro Corporation Consolidated Financial Statements December 31, 2017 and 2016", included as part of Attachment 3 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer, to the Audit Committee for information.

 

5.  City Council direct the Board of the Toronto Hydro Corporation to review their executive compensation and compare with similar municipally owned electric utility companies including:

 

Ottawa Hydro

Quebec Hydro

Alberta Hydro

British Columbia Hydro

New Brunswick Power

Hydro Quebec

Manitoba Hydro

Saskatchewan Power

 

Confidential Attachments 7, 8, 9 and 10 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in their entirety in accordance with the provisions of the City of Toronto Act, 2006,  as they pertain to the security of the property of the City and securities requirements arising from Toronto Hydro Corporation's status as an offering corporation under the Business Corporations Act, (Ontario) R.S.O. 1990, c.B.16, Toronto Hydro Corporation's status as a reporting issuer under the Securities Act, (Ontario) R.S.O. 1990, c.S.5, and the application by the Ontario Securities Commission of National Instrument 51-102.

 

Confidential Attachment 11b to the report (June 5, 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 identifiable individuals.

Confidential Attachment - The security of the property of the municipality or local board and personal matters about an identifiable individual, including municipal or local board employees

Background Information (Committee)

(June 5, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Toronto Hydro Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116180.pdf
Attachment 1 - Toronto Hydro Corporation Report on the 2017 Annual Shareholder Meeting
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116220.pdf
Attachment 1 Appendix A - Resolution of the Sole Shareholder Re-appointing Auditor
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116221.pdf
Attachment 2 - Toronto Hydro Corporation 2017 Annual Report, Energizing Growth and Innovation
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116222.pdf
Attachment 3 - Toronto Hydro Corporation Financial Report dated December 31, 2017 including Toronto Hydro Corporation's Consolidated Financial Statements and the Auditor's Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116223.pdf
Attachment 4 - Toronto Hydro Corporation Annual Information Form for the Year Ended December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116224.pdf
Attachment 5 - Toronto Hydro Corporation 2017 Environmental Performance Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116225.pdf
Attachment 6a - Toronto Hydro Corporation Chief Executive Officer Certification of Annual Filings
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116226.pdf
Attachment 6b - Toronto Hydro Corporation Chief Financial Officer Certification of Annual Filings
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116227.pdf
Confidential Attachment 7 - Toronto Hydro Corporation Report to the Shareholder for the Year Ended December 31, 2017
Confidential Attachment 8 - Toronto Hydro Corporation Non-Consolidated Financial Statements dated December 31, 2017
Confidential Attachment 9 - Financial Statements of Toronto Hydro-Electric System Limited dated December 31, 2017
Confidential Attachment 10 - Financial Statements of Toronto Hydro Energy Services Incorporated dated December 31, 2017
Attachment 11a - Executive Compensation Disclosure Toronto Hydro Corporation 2017 (Part 1)
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116232.pdf
Confidential Attachment 11b - Executive Compensation Disclosure Toronto Hydro Corporation 2017 (Part 2)
Attachment 12 - Toronto Hydro Corporation First Quarter Financial Report dated March 31, 2018
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116234.pdf
Attachment 13 - Toronto Hydro Corporation Statement of Remuneration and Expenses for Council Appointees for the Year Ended December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116235.pdf

Background Information (City Council)

(June 25, 2018) Supplementary report from the Interim City Manager on Toronto Hydro Corporation Board of Directors consideration of Cost of Preventing Information Being Released at Toronto Hydro (EX35.14a)
https://www.toronto.ca/legdocs/mmis/2018/cc/bgrd/backgroundfile-118872.pdf
Attachment 1 - Letter from the Toronto Hydro Corporation Board Chair regarding EX30.33, Cost of Preventing Information Being Released at Toronto Hydro
https://www.toronto.ca/legdocs/mmis/2018/cc/bgrd/backgroundfile-118873.pdf

Communications (City Council)

(June 27, 2018) Submission from William Begley, Supervisor, Municipal Relations, Office of the President, Toronto Hydro (CC.New.EX35.14.1)
https://www.toronto.ca/legdocs/mmis/2018/cc/comm/communicationfile-86521.pdf

Motions (City Council)

1 - Motion to Amend Item (Additional) moved by Councillor David Shiner (Carried)

That City Council direct the Board of the Toronto Hydro Corporation to review their executive compensation and compare with similar municipally owned electric utility companies including:

 

Ottawa Hydro

Quebec Hydro

Alberta Hydro

BC Hydro

NB Power

Hydro Quebec

Manitoba Hydro

Saskatchewan Power

Vote (Amend Item (Additional)) Jul-26-2018 12:19 PM

Result: Carried Majority Required - EX35.14 - Shiner - motion 1
Total members that voted Yes: 33 Members that voted Yes are Maria Augimeri, Ana Bail„o, Jon Burnside, Christin Carmichael Greb, Josh Colle, Gary Crawford, Joe Cressy, Janet Davis, Glenn De Baeremaeker, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Michael Ford, Jim Hart, Norman Kelly, Giorgio Mammoliti, Josh Matlow, Mary-Margaret McMahon, Miganoush Megardichian, Joe Mihevc, Denzil Minnan-Wong, Frances Nunziata (Chair), James Pasternak, Gord Perks, Anthony Perruzza, Jaye Robinson, Neethan Shan, David Shiner, Michael Thompson, John Tory, Lucy Troisi, Jonathan Tsao
Total members that voted No: 4 Members that voted No are Paul Ainslie, John Campbell, Mark Grimes, Stephen Holyday
Total members that were Absent: 8 Members that were absent are Vincent Crisanti, Justin J. Di Ciano, Mary Fragedakis, Michelle Holland, Jim Karygiannis, Mike Layton, Cesar Palacio, Kristyn Wong-Tam

Motion to Adopt Item as Amended (Carried)

Point of Order by Councillor Stephen Holyday

Councillor Holyday rising on a Point of Order, stated that Councillor Shiner had remarked that the information that Councillor Shiner had displayed was not before Council, when in fact it was included in Attachment 4 to the report from the Interim City Manager and the Interim Chief Financial Officer.

Ruling by Deputy Speaker Glenn De Baeremaeker
Deputy Speaker De Baeremaeker ruled that Councillor Holyday did not have a Point of Order.


Point of Order by Councillor David Shiner

Councillor Shiner rising on a Point of Order stated that the information he displayed was not disclosed to Executive Committee on the Chart the Members were given.

Ruling by Deputy Speaker Glenn De Baeremaeker
Deputy Speaker De Baeremaeker ruled that Councillor Shiner did not have a Point of Order.


Point of Order by Mayor John Tory

Mayor Tory, rising on a Point of Order, stated that Councillor Fletcher was not allowing the Chair of the Toronto Hydro Corporation Board of Directors to answer her questions.

Ruling by Speaker Frances Nunziata
Speaker Nunziata accepted the Point of Order and ruled that Councillor Fletcher should not interrupt the Chair of the Toronto Hydro Corporation Board while he answers her questions.


Point of Privilege by Councillor David Shiner

Councillor Shiner, rising on a Point of Privilege, stated that it is not appropriate for Councillor Holyday to state that Councillor Shiner does not understand how Toronto Hydro Corporation Board compensation works, as he was on the Board and knows how it works.

Ruling by Speaker Frances Nunziata
Speaker Nunziata accepted the Point of Privilege and thanked Councillor Shiner for his remarks.


Point of Privilege by Councillor Stephen Holyday

Councillor Holyday, rising on a Point of Privilege, stated that Councillor Shiner was incorrect and that he had actually stated that the Toronto Hydro Corporation Board could use Members like Councillor Shiner.

Ruling by Speaker Frances Nunziata
Speaker Nuniziata accepted the Point of Privilege and thanked Councillor Holyday for his remarks.

EX35.14 - Toronto Hydro Corporation - Annual General Meeting and 2017 Audited Financial Statements

Decision Type:
ACTION
Status:
Deferred
Wards:
All

City Council Decision

City Council on June 26, 27, 28 and 29, 2018, deferred consideration of Item EX35.14 to the July 23, 24 and 25, 2018 meeting of City Council.

Confidential Attachment - The security of the property of the municipality or local board and personal matters about an identifiable individual, including municipal or local board employees

Background Information (Committee)

(June 5, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Toronto Hydro Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116180.pdf
Attachment 1 - Toronto Hydro Corporation Report on the 2017 Annual Shareholder Meeting
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116220.pdf
Attachment 1 Appendix A - Resolution of the Sole Shareholder Re-appointing Auditor
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116221.pdf
Attachment 2 - Toronto Hydro Corporation 2017 Annual Report, Energizing Growth and Innovation
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116222.pdf
Attachment 3 - Toronto Hydro Corporation Financial Report dated December 31, 2017 including Toronto Hydro Corporation's Consolidated Financial Statements and the Auditor's Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116223.pdf
Attachment 4 - Toronto Hydro Corporation Annual Information Form for the Year Ended December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116224.pdf
Attachment 5 - Toronto Hydro Corporation 2017 Environmental Performance Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116225.pdf
Attachment 6a - Toronto Hydro Corporation Chief Executive Officer Certification of Annual Filings
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116226.pdf
Attachment 6b - Toronto Hydro Corporation Chief Financial Officer Certification of Annual Filings
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116227.pdf
Confidential Attachment 7 - Toronto Hydro Corporation Report to the Shareholder for the Year Ended December 31, 2017
Confidential Attachment 8 - Toronto Hydro Corporation Non-Consolidated Financial Statements dated December 31, 2017
Confidential Attachment 9 - Financial Statements of Toronto Hydro-Electric System Limited dated December 31, 2017
Confidential Attachment 10 - Financial Statements of Toronto Hydro Energy Services Incorporated dated December 31, 2017
Attachment 11a - Executive Compensation Disclosure Toronto Hydro Corporation 2017 (Part 1)
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116232.pdf
Confidential Attachment 11b - Executive Compensation Disclosure Toronto Hydro Corporation 2017 (Part 2)
Attachment 12 - Toronto Hydro Corporation First Quarter Financial Report dated March 31, 2018
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116234.pdf
Attachment 13 - Toronto Hydro Corporation Statement of Remuneration and Expenses for Council Appointees for the Year Ended December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116235.pdf

Background Information (City Council)

(June 25, 2018) Supplementary report from the Interim City Manager on Toronto Hydro Corporation Board of Directors consideration of Cost of Preventing Information Being Released at Toronto Hydro (EX35.14a)
https://www.toronto.ca/legdocs/mmis/2018/cc/bgrd/backgroundfile-117580.pdf
Attachment 1 - Letter from the Toronto Hydro Corporation Board Chair regarding EX30.33, Cost of Preventing Information Being Released at Toronto Hydro
https://www.toronto.ca/legdocs/mmis/2018/cc/bgrd/backgroundfile-117581.pdf

Communications (City Council)

(June 27, 2018) Submission from William Begley, Supervisor, Municipal Relations, Office of the President, Toronto Hydro (CC.New.EX35.14.1)
https://www.toronto.ca/legdocs/mmis/2018/cc/comm/communicationfile-85349.pdf

Motions (City Council)

1 - Motion to Defer Item moved by Councillor David Shiner (Carried)

That consideration of the item be deferred until the July 23, 24 and 25, 2018 meeting of City Council.

EX35.14 - Toronto Hydro Corporation - Annual General Meeting and 2017 Audited Financial Statements

Decision Type:
ACTION
Status:
Amended
Wards:
All

Confidential Attachment - The security of the property of the municipality or local board and personal matters about an identifiable individual, including municipal or local board employees

Committee Recommendations

The Executive Committee recommends that:  

 

1.  City Council treat that portion of the City Council meeting at which the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer is being considered as the Annual General Meeting of the Shareholder for Toronto Hydro Corporation, and in accordance with the proposed recommendations in the "Toronto Hydro Corporation Report on the 2017 Annual Shareholder Meeting" dated May 18, 2018 contained in Attachment 1 to report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer:

 

a.  approve the "Resolution of the Sole Shareholder Re-appointing Auditor" in Attachment 1 Appendix A to report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer in order to re-appoint KPMG LLP, Chartered Accountants, as the auditor for Toronto Hydro Corporation for 2018 until the close of the next annual meeting of the Shareholder, or until a successor is appointed, at such remuneration as may be fixed by the Corporation's Board;

 
b.  receive the "Toronto Hydro Corporation 2017 Annual Report - Energizing Growth and Innovation," the "Toronto Hydro Corporation 2017 Financial Report dated December 31, 2017 including Toronto Hydro Corporation's Audited Consolidated Financial Statements and the Auditors' Report," the "Toronto Hydro Corporation Annual Information Form for the Year Ended December 31, 2017," the "Toronto Hydro Corporation 2017 Environmental Performance Report," the "Toronto Hydro Corporation Chief Executive Officer and Chief Financial Officer Certification of Annual Filings," the "Toronto Hydro Corporation First Quarter Financial Report dated March 31, 2018," and the "Toronto Hydro Corporation Statement of Remuneration and Expenses for Council Appointees for the Year Ended December 31, 2017," forming Attachments 2, 3, 4, 5, 6a, 6b, 12, and 13 respectively to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer;

 
c.  receive the "Toronto Hydro Corporation Report to the Shareholder for the Year Ended December 31, 2017," the "Toronto Hydro Corporation Non-Consolidated Financial Statements dated December 31, 2017," the "Financial Statements of Toronto Hydro-Electric System Limited dated December 31, 2017" and the Auditors' Report thereon, and the "Financial Statements of Toronto Hydro Energy Services Inc. dated December 31, 2017" and the Auditors' Report thereon, forming Confidential Attachments 7, 8, 9 and 10 respectively to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer; and

 
d.  receive the two-part report "Executive Compensation Disclosure Toronto Hydro Corporation 2017", forming Attachment 11a and Confidential Attachment 11b to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer.
 

2.  City Council direct that Confidential Attachments 7, 8, 9 and 10 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in their entirety due to the security of the property of the City and securities requirements arising from Toronto Hydro Corporation's status as an offering corporation under the Business Corporations Act, (Ontario) R.S.O. 1990, c.B.16, Toronto Hydro Corporation's status as a reporting issuer under the Securities Act, (Ontario) R.S.O. 1990, c.S.5, and the application by the Ontario Securities Commission of National Instrument 51-102.

 
3.  City Council direct that Confidential Attachment 11b to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer remain confidential in its entirety as it deals with personal information about identifiable individuals.

 
4.  City Council direct the City Clerk to forward a copy of the "Toronto Hydro Corporation Consolidated Financial Statements December 31, 2017 and 2016", included as part of Attachment 3 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer, to the Audit Committee for information.

Decision Advice and Other Information

The Executive Committee directed the City Manager to conduct a gap analysis comparing executive salaries and compensation provided by Toronto Hydro Corporation with similar publicly-owned municipal utilities, including details of those comparators and the methodology used, and include responses to prior Executive Committee requests on a review of executive compensations as per Items EX30.10 and EX30.35, and report to the Executive Committee by the end of the first quarter of 2019.

Origin

(June 5, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer

Summary

This report contains recommendations for actions necessary to comply with the requirements of the Business Corporations Act, (Ontario) R.S.O. 1990, c.B.16 (OBCA) for holding the Annual General Meeting of the Shareholder of Toronto Hydro Corporation (THC) including receipt of Toronto Hydro Corporation's audited annual consolidated financial statements for 2017 and appointment of the auditor for Toronto Hydro Corporation for 2018.

 

This report also contains recommendations for receipt at the Annual General Meeting of the Shareholder of Toronto Hydro Corporation of other reports provided by Toronto Hydro Corporation as required by the Amended and Restated Shareholder Direction Relating to Toronto Hydro Corporation (Shareholder Direction) which, in addition to the Ontario Business Corporations Act requirements, include:

 

- Toronto Hydro Corporation's annual report, environmental performance report and annual information form;


- Toronto Hydro Corporation's report to the Shareholder, consolidated and non-consolidated financial statements and financial statements for its subsidiary companies. Note that Toronto Hydro Corporation has advised the City that Attachments 7, 8, 9 and 10 are confidential due to: the security of the property of the City, and securities requirements arising from Toronto Hydro Corporation's status as an offering corporation under the Ontario Business Corporations Act, Toronto Hydro Corporation's status as a reporting issuer under the Securities Act (Ontario), R.S.O. 1990, c.S.5, and the application by the Ontario Securities Commission of National Instrument 51-102; and


- Toronto Hydro Corporation's disclosure of executive compensation in two parts, with the part in Attachment 11b being confidential as it includes personal information about identifiable individuals.

Background Information

(June 5, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Toronto Hydro Corporation - Annual General Meeting and 2017 Audited Consolidated Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116180.pdf
Attachment 1 - Toronto Hydro Corporation Report on the 2017 Annual Shareholder Meeting
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116220.pdf
Attachment 1 Appendix A - Resolution of the Sole Shareholder Re-appointing Auditor
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116221.pdf
Attachment 2 - Toronto Hydro Corporation 2017 Annual Report, Energizing Growth and Innovation
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116222.pdf
Attachment 3 - Toronto Hydro Corporation Financial Report dated December 31, 2017 including Toronto Hydro Corporation's Consolidated Financial Statements and the Auditor's Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116223.pdf
Attachment 4 - Toronto Hydro Corporation Annual Information Form for the Year Ended December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116224.pdf
Attachment 5 - Toronto Hydro Corporation 2017 Environmental Performance Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116225.pdf
Attachment 6a - Toronto Hydro Corporation Chief Executive Officer Certification of Annual Filings
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116226.pdf
Attachment 6b - Toronto Hydro Corporation Chief Financial Officer Certification of Annual Filings
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116227.pdf
Confidential Attachment 7 - Toronto Hydro Corporation Report to the Shareholder for the Year Ended December 31, 2017
Confidential Attachment 8 - Toronto Hydro Corporation Non-Consolidated Financial Statements dated December 31, 2017
Confidential Attachment 9 - Financial Statements of Toronto Hydro-Electric System Limited dated December 31, 2017
Confidential Attachment 10 - Financial Statements of Toronto Hydro Energy Services Incorporated dated December 31, 2017
Attachment 11a - Executive Compensation Disclosure Toronto Hydro Corporation 2017 (Part 1)
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116232.pdf
Confidential Attachment 11b - Executive Compensation Disclosure Toronto Hydro Corporation 2017 (Part 2)
Attachment 12 - Toronto Hydro Corporation First Quarter Financial Report dated March 31, 2018
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116234.pdf
Attachment 13 - Toronto Hydro Corporation Statement of Remuneration and Expenses for Council Appointees for the Year Ended December 31, 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116235.pdf

Motions

1 - Motion to Amend Item (Additional) moved by Councillor David Shiner (Carried)

That the Executive Committee:

 

1.  Direct the City Manager to conduct a gap analysis comparing executive salaries and compensation provided by Toronto Hydro Corporation with similar publicly-owned municipal utilities, including details of those comparators and the methodology used, and include responses to prior Executive Committee requests on a review of executive compensations as per Items EX30.10 and EX30.35, and report to the Executive Committee by the end of the first quarter of 2019.


2 - Motion to Adopt Item as Amended moved by Mayor John Tory (Carried)
Source: Toronto City Clerk at www.toronto.ca/council