Item - 2019.EP8.6

Tracking Status

This item was considered by Board of Governors of Exhibition Place on December 19, 2019 and was adopted without amendment.

EP8.6 - Write-off of Uncollectible Receivables

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Confidential Attachment - Financial information that belongs to the Board of Governors of Exhibition Place and has monetary value or potential monetary value

Board Decision

The Board of Governors of Exhibition Place:

1. Directed that the accounts receivable identified in Confidential Attachment 1 to the report (November 28, 2019) from the Chief Executive Officer, Exhibition Place be written-off and removed from the accounts receivables record.

2. Directed that Confidential Attachment 1 to the report (November 28, 2019) from the Chief Executive Officer, Exhibition Place remain confidential in its entirety as it contains financial information that belongs to the Board of Governors of Exhibition Place and has monetary value or potential monetary value.

Origin

(November 28, 2019) Report from the Chief Executive Officer, Exhibition Place

Summary

In accordance with Financial By-Law 2-18 Article XIV, this report recommends that the Board approve of the write-off of Exhibition Place account receivables that are not collectible as identified in Confidential Attachment 1. Once approved, the receivables will be fully written-off and removed from the Board’s accounts.

Background Information

(November 28, 2019) Report from the Chief Executive Officer, Exhibition Place on Write-off of Uncollectible Receivables
https://www.toronto.ca/legdocs/mmis/2019/ep/bgrd/backgroundfile-140906.pdf
Confidential Attachment 1 - 2019 Write Off of Uncollectible Receivables

Communications

(December 18, 2019) Letter from Councillor Paul Ainslie (EP.New.EP8.6.1)
https://www.toronto.ca/legdocs/mmis/2019/ep/comm/communicationfile-99906.pdf

Motions

Motion to Adopt Item moved by Peter Leon (Carried)