Item - 2020.TA6.2
Tracking Status
- This item was considered by Board of Directors of the Toronto Atmospheric Fund on May 21, 2020 and was adopted without amendment.
TA6.2 - Draft Audited Consolidated Financial Statements for the Year Ended December 31, 2019
- Decision Type:
- ACTION
- Status:
- Adopted
Board Decision
The Board of Directors of the Toronto Atmospheric Fund:
1. Approved transfers of $3,004,823 to the Toronto Stabilization Fund and $1,814,782 to the Ontario Stabilization Fund.
2. Approved the 2019 Audited Consolidated Financial Statements.
Decision Advice and Other Information
The Chief Executive Officer and the Director, Finance, Toronto Atmospheric Fund gave an overview of the Draft Consolidated Financial Statements for Toronto Atmospheric Fund for the year ended December 31, 2019 and the Draft Auditors' Report.
Origin
Summary
The 2019 Audited Consolidated Financial Statements and Report have been prepared by Welch LLP and are presented to the Board of Directors of 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
https://www.toronto.ca/legdocs/mmis/2020/ta/bgrd/backgroundfile-147310.pdf
Attachment 1 - Draft Auditors’ Report to the Board of Directors
https://www.toronto.ca/legdocs/mmis/2020/ta/bgrd/backgroundfile-147311.pdf
Attachment 2 - Draft Consolidated Financial Statements for Toronto Atmospheric Fund for the year ended December 31, 2019
https://www.toronto.ca/legdocs/mmis/2020/ta/bgrd/backgroundfile-147312.pdf
Presentation Slides from the Director of Finance on Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2020/ta/bgrd/backgroundfile-147747.pdf