Item - 2019.RX1.2
Tracking Status
- This item was considered by the TO Live - Planning and Priorities Committee on May 3, 2019 and adopted without amendment. It will be considered by City Council on May 14 and 15, 2019.
RX1.2 - Programming Reserve Fund
- Decision Type:
- ACTION
- Status:
- Adopted
Committee Recommendations
The Policies and Priorities Committee recommends that the Board of Directors of TO Live:
1. Approve the creation of the Programming Reserve Fund, and its Criteria in Attachment 1 to the report (April 17, 2019) from the President and Chief Executive Officer, TO Live.
2. Recommend that City Council create the TO Live Programming Reserve Fund in Attachment 1 to the report (April 17, 2019) from the President and Chief Executive Officer, TO Live.
3. Recommend that City Council, subject to the adoption of Recommendation 2 above, request that the City Chief Financial Officer and Treasurer transfer TO Live's 2018 operating surplus in the amount of $0.388 million to the TO Live Programming Reserve Fund as part of the 2018 year-end surplus allocations.
4. Approve the Programming Reserve Fund Policy and Procedures in Attachment 2 to the report (April 17, 2019) from the President and Chief Executive Officer, TO Live.
Origin
Summary
In order for TO Live to be successful and ensure that there is a stable funding source for research and development of programming initiatives (TO Live Presents), TO Live wishes to establish a Programming Reserve Fund.
Background Information
Attachment 1 - Criteria for Establishment of the TO Live Programming Reserve Fund
Attachment 2 - Programming Reserve Fund Policy and Procedures