Item - 2020.EX19.7

The Executive Committee recommends that:

1.  City Council establish a discretionary reserve fund called the 'OIC External Legal and Investigative Expense Reserve Fund' in Appendix B, Schedule 7, Corporate Discretionary Reserve Funds of the City of Toronto Municipal Code Chapter 227, Reserves and Reserve Funds, the purpose of which is to fund investigations or external legal services required by the Office of the Integrity Commissioner, with criteria as set out in Appendix 1 to the report (November 26, 2020) from the Chief Financial Officer and Treasurer.

2.  City Council amend Chapter 227, Reserves and Reserve Funds, in accordance with Recommendation 1 above and City Council direct the City Solicitor to introduce any necessary Bills to give effect to the City Council's decision.

3.  City Council approve a budget adjustment that reallocates $0.100 million from Legal and Investigative Expenses to Contribution to the newly created OIC External Legal and Investigative Expense Reserve Fund in the 2020 Approved Operating Budget of the Office of the Integrity Commissioner, having no impact on the 2020 Approved Net Operating Budget of the City.

This report seeks Council approval to establish a new discretionary reserve fund called the OIC External Legal and Investigative Expense Reserve Fund and to make an associated amendment to City of Toronto Municipal Code Chapter 227, Reserves and Reserve Funds ("Chapter 227"). The proposed reserve fund is needed to hold funds that will be required by the Office of the Integrity Commissioner (OIC) to fund future investigations and/or the hire of external legal services.