Item - 2020.PA15.3

The Board of Directors of Toronto Parking Authority:

1.  Received the report (May 19, 2020) from the Auditor General for information.

On an annual basis, the Auditor General reviews the implementation status of outstanding audit recommendations and reports the review results to City Council through the City's Audit Committee.

This report provides the implementation status of the audit recommendations contained in the report entitled "Toronto Parking Authority Phase 2: Audit of the Revenue Operations of Off-Street Controlled Facilities" dated January 12, 2016. The audit report is available at: http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2016.AU5.5.

The audit report contains 12 recommendations. In prior follow-up reviews, we determined that eight recommendations have been fully implemented. During the current follow-up process, management reported that the outstanding four recommendations have been partially implemented.

The outstanding recommendations relate to:

-  Alignment of parking rates to the benchmarks set out in the parking rate policy, and documenting the factors which may impact the alignment of Toronto Parking Authority parking rates with the benchmarks.
 

-  Implementation of the automated interfaces between the parking revenue control system and the accounting system. In addition, automating the recording and reconciliation of revenue generating transactions, collections, and deposits.
 

-  Use of system functionality to analyze collected data to augment monitoring of exception transactions and events.

-  Review of the role and mandate of the Internal Audit function within the organization, to strengthen its ability to provide independent and objective assurance and advice to management and the Board.
 

Given the recommendations were made in January 2016 and have been outstanding since then, there has still been positive progress made. Management efforts are underway to implement the outstanding recommendations with expected completion dates of the fourth quarter of 2020 for three recommendations and 2021 for one recommendation.

The implementation of the outstanding recommendations will enhance operational efficiency and effectiveness of the revenue operations.

Management comments and action plan are included in Attachment 1.