Item - 2022.EX34.37

The Executive Committee recommends that:

1. City Council direct the 2020 operating surpluses of five of the centres (Applegrove Community Complex, Cecil Street Community Centre, Central Eglinton Community Centre, Community Centre 55 and Ralph Thornton Community Centre) totalling $181,633 be paid to the City of Toronto and the City of Toronto provide five centres (Eastview Neighbourhood Community Centre, Scadding Court Community Centre, Swansea Town Hall Community Centre, Waterfront Community Centre and 519 Church Street Community Centre) with supplementary subsidies to fund the operating deficits totalling $65,424, resulting in a net operating surplus of $116,209 to be received by the City, as illustrated in Appendix A to the report (June 9, 2022) from the Chief Financial Officer and Treasurer.

On an annual basis, the City of Toronto receives the audited financial statements from 10 Association of Community Centres (AOCCs). The audited financial statements allow the City to determine whether additional operating subsidy payments need to be provided to or clawed back from the AOCCs to settle their operating deficits or surpluses.

This report recommends settlement with the Association of Community Centres for 2020 based on their audited financial results as of December 31, 2020.

While normally the prior year end settlement reports for both Association of Community Centres and Arena Boards are submitted together to Council in the following year, the 2020 settlement reports were delayed due to delays in completing the 2020 audits, and further delayed by the impact of COVID-19 on the City's 2021 priorities. City staff will present the 2021 Settlement Reports at the first opportunity to the new term of City Council for consideration and approval.