Item - 2020.AU5.8
Tracking Status
- City Council adopted this item on June 29 and 30, 2020 without amendments and without debate.
- This item was considered by the Audit Committee on February 10, 2020 and adopted without amendment. It will be considered by City Council on June 29 and 30, 2020.
AU5.8 - Arenas - 2018 Audited Financial Statements Update
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on June 29 and 30, 2020, adopted the following:
1. City Council receive the 2018 audited financial statements of arenas attached to the report (January 24, 2020) from the Auditor General.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145397.pdf
Attachment 1: Financial Statements and Report to Board of Management - Ted Reeve Community Arena
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145398.pdf
Attachment 2: Status Update on Outstanding Audit Issues and Management Letter Recommendations - Leaside Memorial Community Gardens Arena
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145399.pdf
AU5.8 - Arenas - 2018 Audited Financial Statements Update
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Audit Committee recommends that:
1. City Council receive the 2018 audited financial statements of arenas attached to the report (January 24, 2020) from the Auditor General.
Origin
Summary
The purpose of this report is to provide the Audit Committee and City Council with an update on the remaining 2018 audited financial statements of arenas.
The 2018 audited financial statements for the eight City arenas are presented to the Audit Committee after approval by their respective Boards or Committees of Management. The external auditor, Welch LLP, advise that they have provided their comments on internal controls to some organizations by way of a report to the Board.
The Independent Auditor’s Report, accompanying financial statements, and internal control letter (where applicable) is attached to this report.
Background Information
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145397.pdf
Attachment 1: Financial Statements and Report to Board of Management - Ted Reeve Community Arena
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145398.pdf
Attachment 2: Status Update on Outstanding Audit Issues and Management Letter Recommendations - Leaside Memorial Community Gardens Arena
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145399.pdf