Item - 2021.PA27.2

The Board of Directors of Toronto Parking Authority:

1.  Reviewed, approved and endorsed the following Toronto Parking Authority Policy Resolutions:

a.  Policy Resolution 5-10 - Delegation of Authority, attached as Attachment 1 to motion 1 by Jeffrey Steiner; and

b.  Policy Resolution 5-13 - Purchase Cards (National Bank Mastercard), attached as Appendix D to the report (October 22, 2021) from the President, Toronto Parking Authority.

and directed staff to enact these Policy Resolutions, as approved and endorsed.

Toronto Parking Authority Board of Directors referred Item PA25.3 to the President, Toronto Parking Authority, for further consideration and report back to the September 29, 2021 meeting of Toronto Parking Authority Board of Directors. The referral of this item was made in part to allow Toronto Parking Authority to update the proposed amendments to Toronto Parking Authority Policy Resolution 5-10: Delegation of Authority to reflect the feedback received by Toronto Parking Authority Board of Directors at the July 29, 2021 meeting and to allow the proposed amendments to be considered together with the development of a terms of reference for an Audit and Risk Management Committee.

The terms of reference for the Audit and Risk Management Committee is expected to be considered at the November 8, 2021 meeting of Toronto Parking Authority Board of Directors. This report has therefore been scheduled for consideration at the same time.

Based on the feedback received by Toronto Parking Authority Board of Directors, Toronto Parking Authority is proposing further amendments to the proposed Delegation of Authority to include a term limit not exceeding five (5) years on the Presidential authorities requested for commercial management agreements; adjust the requested authority for amendments to contracts issued at a value of $500,000 or less to the greater of 20 percent or $500,000 in total commitments; and remove the authorities requested to initiate legal action and to settle actual or potential legal disputes.