Item - 2023.CT6.4
Tracking Status
- This item was considered by TO Live on September 20, 2023 and was adopted with amendments.
CT6.4 - Finance and Audit Committee - 2024 Plan and Budget Consideration
- Decision Type:
- ACTION
- Status:
- Amended
Confidential Attachment - 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
Board Decision
The Board of Directors of TO Live:
1. Approved the 2024 Plan and Budget, with a City investment of $5.599 million, as outlined in Attachment 1 and Confidential Attachment 1 to the report (August 31, 2023) from the President and Chief Executive Officer, TO Live.
2. Approved the reallocation and repurpose of existing cash flow estimates totaling $47 million, currently budgeted towards St. Lawrence Centre for the Arts (STLC) State of Good Repair and AODA projects, to the St. Lawrence Centre for the Arts Redevelopment project as part of the funding strategy, and direct TO Live to reflect this in the 2024 budget submission to the City of Toronto for consideration during the 2024 budget process.
3. Directed that Confidential Attachment 1 to the report (August 31, 2023) from the President and Chief Executive Officer, TO Live remain confidential in its entirety, as 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.
Decision Advice and Other Information
The Board of Directors of TO Live considered Items CT6.3 and CT6.4 together.
The Vice President, Finance and Administration, TO Live gave a presentation on 2024 Plan and Budget.
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.
Origin
Summary
The purpose of this report is to provide detailed information on the 2024 Plan and Budget to the Finance and Audit Committee.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/ct/bgrd/backgroundfile-239327.pdf
(August 31, 2023) Report from the President and Chief Executive Officer, TO Live on Finance and Audit Committee - 2024 Plan and Budget Consideration
https://www.toronto.ca/legdocs/mmis/2023/ct/bgrd/backgroundfile-239145.pdf
Attachment 1 - 2024 Plan and Budget Presentation
https://www.toronto.ca/legdocs/mmis/2023/ct/bgrd/backgroundfile-239146.pdf
Confidential Attachment 1 - Supplementary Report, 2024 Plan and Budget Presentation
Motions
That the Board of Directors of TO Live:
1. Approve the reallocation and repurpose of existing cash flow estimates totalling $47 million, currently budgeted towards STLC State of Good Repair and AODA projects, to the St. Lawrence Centre for the Arts Redevelopment project as part of the funding strategy, and direct TO Live to reflect this in the 2024 budget submission to the City of Toronto for consideration during the 2024 budget process.
4a - Finance and Audit Committee - 2024 Plan and Budget Consideration
Confidential Attachment - 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.
Origin
Summary
The purpose of this report is to provide detailed information on the 2024 Plan and Budget to the Finance and Audit Committee.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/ct/bgrd/backgroundfile-239358.pdf
(August 31, 2023) Report from the President and Chief Executive Officer, TO Live, on Finance & Audit Committee - 2024 Plan and Budget Consideration
https://www.toronto.ca/legdocs/mmis/2023/ct/bgrd/backgroundfile-239337.pdf
Attachment 1 - 2024 Plan and Budget Presentation
https://www.toronto.ca/legdocs/mmis/2023/ct/bgrd/backgroundfile-239338.pdf
Confidential Attachment 1 - 2024 Plan and Budget Confidential Information