Item - 2021.TA11.3

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved transfers of:

$485,553 to the Toronto Stabilization Fund;

$1,388,507 less adjustment of $874,879 for a net of $513,628 to the Ontario Stabilization Fund; and

$922,778 to the Canada Stabilization Fund.

2.  Approved the 2020 Audited Consolidated Financial Statements.

The 2020 Audited Consolidated Financial Statements and Report have been prepared by Welch LLP and are presented to the Toronto Atmospheric Fund (TAF) Board of Directors for approval. These statements provide separate fund accounting for the City of Toronto, Province of Ontario, and Government of Canada endowment funds.