Item - 2023.EX6.17
Tracking Status
- City Council adopted this item on July 19, 2023 without amendments and without debate.
- This item was considered by the Executive Committee on July 11, 2023 and adopted without amendment. It will be considered by City Council on July 19, 2023.
EX6.17 - Lakeshore Arena Corporation 2022 Annual General Meeting and Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on July 19 and 20, 2023, adopted the following:
1. City Council treat that portion of the City Council meeting at which the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation is considered as the Annual General Meeting of the Shareholder for Lakeshore Arena Corporation by:
a. receiving Board-approved the "Lakeshore Arena Corporation 2022 Annual Report" and the "Lakeshore Arena Corporation 2022 Audited Financial Statements" forming Attachments 1 and 2 to the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation, respectively;
b. appointing Welch LLP as the Auditor of Lakeshore Arena Corporation for fiscal year 2023, and authorizing the Board of Directors of Lakeshore Arena Corporation to fix the remuneration of the Auditor; and
c. receiving the "Lakeshore Arena Corporation Executive Compensation Disclosure 2022" forming Attachment 3 to the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation.
2. City Council forward a copy of the "Lakeshore Arena Corporation 2022 Audited Financial Statements" forming Attachment 2 to the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation to the Audit Committee for information.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237974.pdf
Attachment 1 - Lakeshore Arena Corporation 2022 Annual and Cover Report
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237975.pdf
Attachment 2 - Lakeshore Arena Corporation 2022 Audited Annual Financial Statements
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237976.pdf
Attachment 3 - Lakeshore Arena Corporation Executive Compensation Disclosure 2022
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237977.pdf
Attachment 4 - Report to the Board of Directors, Lakeshore Arena Corporation, dated June 15, 2023 - Annual General Meeting and 2022 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237978.pdf
EX6.17 - Lakeshore Arena Corporation 2022 Annual General Meeting and Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council treat that portion of the City Council meeting at which the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation is considered as the Annual General Meeting of the Shareholder for Lakeshore Arena Corporation by:
a. receiving Board-approved the "Lakeshore Arena Corporation 2022 Annual Report" and the "Lakeshore Arena Corporation 2022 Audited Financial Statements" forming Attachments 1 and 2 to the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation, respectively;
b. appointing Welch LLP as the Auditor of Lakeshore Arena Corporation for fiscal year 2023, and authorizing the Board of Directors of Lakeshore Arena Corporation to fix the remuneration of the Auditor; and
c. receiving the "Lakeshore Arena Corporation Executive Compensation Disclosure 2022" forming Attachment 3 to the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation.
2. City Council forward a copy of the "Lakeshore Arena Corporation 2022 Audited Financial Statements" forming Attachment 2 to the letter (June 26, 2023) from the Executive Director, Lakeshore Arena Corporation to the Audit Committee for information.
Origin
Summary
At its meeting of June 23, 2023, the Board of the Lakeshore Arena Corporation (LAC, operating as the Ford Performance Centre), considered the report from the Executive Director of LAC, forming Attachment 4 of this letter. The Board approved recommendations in the report, as shown above.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237974.pdf
Attachment 1 - Lakeshore Arena Corporation 2022 Annual and Cover Report
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237975.pdf
Attachment 2 - Lakeshore Arena Corporation 2022 Audited Annual Financial Statements
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237976.pdf
Attachment 3 - Lakeshore Arena Corporation Executive Compensation Disclosure 2022
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237977.pdf
Attachment 4 - Report to the Board of Directors, Lakeshore Arena Corporation, dated June 15, 2023 - Annual General Meeting and 2022 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2023/ex/bgrd/backgroundfile-237978.pdf