Item - 2019.TA2.2

Tracking Status

This item was considered by Board of Directors of the Toronto Atmospheric Fund on April 30, 2019 and was adopted without amendment.

TA2.2 - Draft 2018 Audited Consolidated Financial Statements

Decision Type:: ACTION

Status:: Adopted

Board Decision

The Board of Directors of the Toronto Atmospheric Fund:

1. Approved $526,000 as the Toronto Stabilization Fund balance for 2018.

2. Approved the 2018 Audited Consolidated Financial Statements.

Decision Advice and Other Information

Welch LLP gave an overview of the Draft Consolidated Financial Statements for Toronto Atmospheric Fund for the year ended December 31, 2018 and the Draft Auditors' Report.

Origin

(April 26, 2019) Report from the Director of Finance and Operations

Summary

The 2018 Audited Consolidated Financial Statements and Report have been prepared by Welch LLP and are presented to the Board of Directors of the Toronto Atmospheric Fund for approval. These statements provide separate fund accounting for both the City of Toronto and the Province of Ontario endowment funds.

Background Information

(April 26, 2019) Report from the Director of Finance and Operations on Draft 2018 Audited Consolidated Financial Statements
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-132435.pdf
Attachment 1 - Draft Consolidated Financial Statements for Toronto Atmospheric Fund for the year ended December 31, 2018
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-132416.pdf
Attachment 2 - Draft Auditors' Report
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-132417.pdf
(April 12, 2019) Report from the Director of Finance and Operations on 2018 Audited Consolidated Financial Statements - Notice of Pending Report
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-132418.pdf

Motions

Motion to Adopt Item moved by Kimberly Marshall (Carried)