Item - 2019.TA1.8

Tracking Status

This item was considered by the Board of Directors of the Toronto Atmospheric Fund on February 22, 2019. The Committee received the item for information only. No further action will be taken on this item.

TA1.8 - Unaudited Financial Results for the Year ended December 31, 2018

Decision Type:: Information

Status:: Received

Board Decision

The Board of Directors of the Toronto Atmospheric Fund:

1. Received the report (February 7, 2019) from the Director of Finance and Operations for information.

Origin

(February 7, 2019) Report from the Director of Finance and Operations

Summary

The unaudited consolidated financial results for the full 2018 fiscal year are compared to the approved 2018 budget. Performance of the marketable securities was softer in the fourth quarter (Q4) due to global financial market volatility. These unrealized 'paper losses' during Q4 were partially offset by excellent performance of Toronto Atmospheric Fund's direct investments. Despite softer Q4 results, full year total revenues are positive and full year total expenses are within budget.

Background Information

(February 7, 2019) Report from the Director of Finance and Operations on Unaudited Financial Results for the Year Ended December 31, 2018
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-126577.pdf
Attachment 1 - Unaudited Consolidated Summary of Revenues and Expenditures for them Fiscal Year Ended December 31, 2018
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-126578.pdf

Motions

Motion to Receive Item moved by Sandra Odendahl (Carried)

That the item be received for information.