Item - 2019.AU4.21
Tracking Status
- City Council adopted this item on October 29 and 30, 2019 without amendments.
- This item was considered by Audit Committee on October 25, 2019 and was adopted with amendments. It will be considered by City Council on October 29 and 30, 2019.
AU4.21 - Arenas - 2018 Audited Financial Statements Update
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
City Council Decision
City Council on October 29 and 30, 2019, adopted the following:
1. City Council receive the 2018 audited financial statements of arenas attached to the report (October 4, 2019) from the Auditor General.
City Council Decision Advice and Other Information
During the review of the Order Paper on October 29, 2019, City Council adopted a procedural motion to remove this Item from the jurisdiction of the Audit Committee and bring it forward for consideration by City Council.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138824.pdf
Attachment 1: Financial Statements and Report to Board of Management - Leaside Memorial Community Gardens Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138825.pdf
Attachment 2: Financial Statements - Moss Park Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138826.pdf
Attachment 3: Financial Statements - William H. Bolton Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138827.pdf
Attachment 4: Financial Statements - North Toronto Memorial Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138866.pdf
Attachment 5: Status Update on Outstanding Audit Issues and Management Letter Recommendations - Arenas
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138828.pdf
Motions (City Council)
That in accordance with Section 27-7.10 of Council Procedures, City Council remove Item AU4.21, headed "Arenas - 2018 Audited Financial Statements Update" from the Audit Committee and bring the Item forward to City Council for consideration.
AU4.21 - Arenas - 2018 Audited Financial Statements Update
- 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 (October 4, 2019) from the Auditor General.
Decision Advice and Other Information
The Audit Committee:
1. Requested the Auditor General to report to the next meeting of the Audit Committee on February 10, 2020, with an update on the reportable matters listed in Welch LLP's Management Letter to the Board of Management, Leaside Memorial Community Gardens.
Origin
Summary
The purpose of this report is to provide the Audit Committee and City Council with an update on the remaining 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-138824.pdf
Attachment 1: Financial Statements and Report to Board of Management - Leaside Memorial Community Gardens Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138825.pdf
Attachment 2: Financial Statements - Moss Park Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138826.pdf
Attachment 3: Financial Statements - William H. Bolton Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138827.pdf
Attachment 4: Financial Statements - North Toronto Memorial Arena
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138866.pdf
Attachment 5: Status Update on Outstanding Audit Issues and Management Letter Recommendations - Arenas
https://www.toronto.ca/legdocs/mmis/2019/au/bgrd/backgroundfile-138828.pdf
Motions
That the Audit Committee request the Auditor General to report to the next meeting of the Audit Committee on February 10, 2020, with an update on the reportable matters listed in Welch LLP's Management Letter to the Board of Management, Leaside Memorial Community Gardens.