Item - 2019.AU3.3
Tracking Status
- City Council adopted this item on July 16, 17 and 18, 2019 without amendments and without debate.
- This item was considered by Audit Committee on June 28, 2019 and was adopted with amendments. It will be considered by City Council on July 16, 17 and 18, 2019.
AU3.3 - Arenas - 2018 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on July 16, 17 and 18, 2019, adopted the following:
1. City Council receive the 2018 audited financial statements of Arenas attached to the report (June 13, 2019) from the Auditor General.
2. City Council direct those Arenas with outstanding audit issues to implement the management letter recommendations and request the Auditor General to provide an update report to the October 25, 2019 meeting of the Audit Committee.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134786.pdf
Attachment 1: Financial Statements - Forest Hill Memorial Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134791.pdf
Attachment 2: Financial Statements and Report to Committee of Management - George Bell Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134792.pdf
Attachment 3: Financial Statements and Report to Board of Management - Leaside Memorial Community Gardens Arena (not available at time of printing)
Attachment 4: Financial Statements - McCormick Playground Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134793.pdf
AU3.3 - Arenas - 2018 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Committee Recommendations
The Audit Committee recommends that:
1. City Council receive the 2018 audited financial statements of Arenas attached to the report (June 13, 2019) from the Auditor General.
2. City Council direct those Arenas with outstanding audit issues, to implement the management letter recommendations, and request the Auditor General to provide an update report to the October 25, 2019 meeting of the Audit Committee.
Origin
Summary
The purpose of this report is to provide the Audit Committee and City Council with the 2018 audited financial statements of Arenas.
The 2018 audited financial statements for the eight City Arenas are presented to the Audit Committee after approval by their respective Boards or Committees of Management. The external auditor, Welch LLP, advise that they have provided their comments on internal controls to some organizations by way of a report to the Board.
The Independent Auditor’s Report, accompanying financial statements, and internal control letter (where applicable) is attached to this report.
Background Information
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134786.pdf
Attachment 1: Financial Statements - Forest Hill Memorial Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134791.pdf
Attachment 2: Financial Statements and Report to Committee of Management - George Bell Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134792.pdf
Attachment 3: Financial Statements and Report to Board of Management - Leaside Memorial Community Gardens Arena (not available at time of printing)
Attachment 4: Financial Statements - McCormick Playground Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-134793.pdf
Motions
That the Audit Committee recommend that:
1. City Council direct those Arenas with outstanding audit issues, to implement the management letter recommendations, and request the Auditor General to provide an update report to the October 25, 2019 meeting of the Audit Committee.