Item - 2019.RZ2.5

Tracking Status

This item was considered by the TO Live - Audit Committee on June 10, 2019 and adopted without amendment. It will be considered by City Council on June 18 and 19, 2019.

RZ2.5 - 2019 First Quarter Financial Results and Commentary

Decision Type:: ACTION

Status:: Adopted

Confidential Attachment - Financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization

Committee Recommendations

The Audit Committee recommends that the Board of Directors of TO Live:

1. Approve the 2019 first quarter financial operating results noted in Confidential Attachments 1, 2 and 3 to the report (May 27, 2019) from the President and Chief Executive Officer, TO Live.

2. Direct that Confidential Attachment 1, 2 and 3 to the report (May 27, 2019) from the President and Chief Executive Officer, TO Live remain confidential in their entirety because if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

Decision Advice and Other Information

The Audit Committee recessed its public meeting to meet in closed session to consider the item as it pertains to financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

Origin

(May 27, 2019) Report from the President and Chief Executive Officer, TO Live

Summary

The purpose of this report is to present the 2019 First Quarter financial results to the Board.

Background Information

(May 27, 2019) Report from the President and Chief Executive Officer on 2019 First Quarter Financial Results and Commentary
https://www.toronto.ca/legdocs/mmis/2019/rz/bgrd/backgroundfile-133605.pdf
Confidential Attachment 1 - 2019 First Quarter Financial Results Commentary
Confidential Attachment 2 - Contribution Margin Reports
Confidential Attachment 3 - Development Summary

Motions

1 - Motion to Adopt Item moved by Paul Bernards (Carried)