Item - 2022.PA30.1

The Board of Directors of Toronto Parking Authority approved the Audited Financial Statements for the year ended December 31, 2021.

At its meeting on May 10, 2022, the Toronto Parking Authority - Audit and Risk Management Committee considered Item PR2.1 and made recommendations to the Board of Directors of Toronto Parking Authority.

Summary from the report (April 26, 2022) from the President, Toronto Parking Authority:

The purpose of this report is to provide the Audit and Risk Management Committee of the Board of Directors of Toronto Parking Authority and Board of Directors of Toronto Parking Authority with the audited financial statements and highlights of the 2021 financial results for the year ended December 31, 2021.

KPMG LLP has completed their audit of Toronto Parking Authority's financial statements for the year ended December 31, 2021. A draft of the financial statements along with a copy of KPMG's year-end report to the Audit and Risk Management Committee is provided in Attachments 1 and 2.  KPMG Audit Partner, Kevin Travers, will be attending the May 10, 2022 Audit and Risk Management Committee meeting to provide a summary on significant accounting and financial reporting matters dealt with during the audit process.