Item - 2022.CT33.5

The Board of Directors of TO Live:

1.  Approved the 2023 plan and budget, with a City investment of $7.072 million, as outlined in Attachment 1 and Confidential Attachment 1 to the report (May 2, 2022) from the President and Chief Executive Officer, TO Live.

2.  Directed that Confidential Attachment 1 to the report (May 2, 2022) from the President and Chief Executive Officer, TO Live remain confidential in its entirety because it contains financial information supplied in confidence to the Board of Directors of TO Live which if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The Board of Directors of TO Live recessed its public meeting to meet in closed session to consider the item as it pertains to financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The purpose of this report is to provide detailed information on the 2023 Plan and Budget to the Audit Committee.

The agenda for the May 24, 2022 Audit Committee meeting, including the 2023 Plan and Budget Presentation (Attachment 1), as well as Confidential Attachment 1, is being published earlier than usual and provided to all Members of the Board and Committees, to allow additional time for review of the Budget materials.

At its meeting on May 24, 2022, the TO Live - Audit Committee considered item RZ16.1 and made recommendations to the Board of Directors of TO Live.

Summary from the report (May 2, 2022) from the President and Chief Executive Officer, TO Live:

The purpose of this report is to provide detailed information on the 2023 Plan and Budget to the Audit Committee.

The agenda for the May 24, 2022 Audit Committee meeting, including the 2023 Plan and Budget Presentation (Attachment 1), as well as Confidential Attachment 1, is being published earlier than usual and provided to all Members of the Board and Committees, to allow additional time for review of the Budget materials.