Item - 2018.EX35.9

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.

EX35.9 - Build Toronto - Annual General Meeting and 2017 Audited 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 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 considered as the Annual General Meeting of the Shareholder for Build Toronto by:

 

a.  receiving the "Build Toronto 2017 Annual Report", forming Attachment 1 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer;

 

b.  appointing PricewaterhouseCoopers LLP, Chartered Accountants, as the Auditor of Build Toronto for fiscal year 2018, and authorizing the Board of Directors of Build Toronto to fix the remuneration of the Auditor; and

 

c.  receiving the "Build Toronto Executive Compensation Disclosure 2017", forming Attachment 2 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer.

 

2.  City Council direct the City Clerk to forward a copy of the "Build Toronto 2017 Audited Annual Financial Statements", forming 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.

Background Information (Committee)

(June 5, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Build Toronto - Annual General Meeting and 2017 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116159.pdf
Attachment 1 - Build Toronto 2017 Annual Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116246.pdf
Attachment 2 - Build Toronto Executive Compensation Disclosure 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116247.pdf
Attachment 3 - Build Toronto 2017 Audited Annual Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116248.pdf

Motions (City Council)

Motion to Adopt Item (Carried)

Vote (Adopt Item) Jun-27-2018 6:50 PM

Result: Carried Majority Required - EX35.9 - Adopt the item
Total members that voted Yes: 37 Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bail„o, Jon Burnside, John Campbell, Josh Colle, Gary Crawford, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Justin J. Di Ciano, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Michael Ford, Mary Fragedakis, Mark Grimes, Jim Hart, Stephen Holyday, Norman Kelly, Mike Layton, Josh Matlow, Mary-Margaret McMahon, Miganoush Megardichian, Joe Mihevc, Denzil Minnan-Wong, Frances Nunziata (Chair), Gord Perks, Jaye Robinson, Neethan Shan, David Shiner, Michael Thompson, John Tory, Lucy Troisi, Jonathan Tsao, Kristyn Wong-Tam
Total members that voted No: 0 Members that voted No are
Total members that were Absent: 8 Members that were absent are Christin Carmichael Greb, Joe Cressy, Michelle Holland, Jim Karygiannis, Giorgio Mammoliti, Cesar Palacio, James Pasternak, Anthony Perruzza

EX35.9 - Build Toronto - Annual General Meeting and 2017 Audited Financial Statements

Decision Type:
ACTION
Status:
Adopted
Wards:
All

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 considered as the Annual General Meeting of the Shareholder for Build Toronto by:

 

a.  receiving the "Build Toronto 2017 Annual Report", forming Attachment 1 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer;

 

b.  appointing PricewaterhouseCoopers LLP, Chartered Accountants, as the Auditor of Build Toronto for fiscal year 2018, and authorizing the Board of Directors of Build Toronto to fix the remuneration of the Auditor; and

 

c.  receiving the "Build Toronto Executive Compensation Disclosure 2017", forming Attachment 2 to the report (June 5, 2018) from the Interim City Manager and the Interim Chief Financial Officer.

 

2.  City Council direct the City Clerk to forward a copy of the "Build Toronto 2017 Audited Annual Financial Statements", forming 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.

Origin

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

Summary

This report contains recommendations for the actions necessary to comply with the requirements of the Business Corporations Act, Ontario (OBCA) for holding the Annual General Meeting of the Shareholder of Build Toronto, including receipt of its Annual Report and Audited Financial Statements for 2017 and appointment of the auditor for 2018.

 

This report also contains recommendations for receipt at the Annual General Meeting of the Shareholder of information disclosing the individual compensation of executive officers employed by Build Toronto in 2017.

Background Information

(June 5, 2018) Report from the Interim City Manager and the Interim Chief Financial Officer on Build Toronto - Annual General Meeting and 2017 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116159.pdf
Attachment 1 - Build Toronto 2017 Annual Report
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116246.pdf
Attachment 2 - Build Toronto Executive Compensation Disclosure 2017
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116247.pdf
Attachment 3 - Build Toronto 2017 Audited Annual Financial Statements
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-116248.pdf

Motions

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