Item - 2023.EX6.18

Executive Committee Recommendation 2 was ruled out of order by the Speaker during the review of the Order Paper.

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 President and Chief Executive Officer, Toronto Community Housing Corporation and the Chair, Board of Directors of Toronto Community Housing Corporation, is considered as the Annual General Meeting of the Shareholder for Toronto Community Housing Corporation by:

a. receiving the Letter to the Shareholder from the Toronto Community Housing Corporation's Chair of the Board of Directors and the President and Chief Executive Officer, dated April 30, 2023, transmitting the "Toronto Community Housing Corporation 2022 Annual Report: Opening Doors for the Future – Celebrating 20 years" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to the letter (June 26, 2023) from the President and Chief Executive Officer, Toronto Community Housing Corporation and the Chair, Board of Directors of Toronto Community Housing Corporation;

b. receiving the "Toronto Community Housing Corporation 2022 Audited Consolidated Financial Statements", forming Attachment 2 to the letter (June 26, 2023) from the President and Chief Executive Officer, Toronto Community Housing Corporation and the Chair, Board of Directors of Toronto Community Housing Corporation;

c. appointing KPMG LLP as the Auditor of Toronto Community Housing Corporation for fiscal year 2023, and authorizing the Board of Directors of Toronto Community Housing Corporation to set the fee of the Auditor; and

d. receiving the Toronto Community Housing Corporation's executive compensation disclosure included in "Additional Information" of Attachment 1 to the letter (June 26, 2023) from the President and Chief Executive Officer, Toronto Community Housing Corporation and the Chair, Board of Directors of Toronto Community Housing Corporation.

2. City Council direct the City Clerk to forward a copy of the "Toronto Community Housing Corporation 2022 Audited Consolidated Financial Statements" forming Attachment 2 to the letter (June 26, 2023) from the President and Chief Executive Officer, Toronto Community Housing Corporation and the Chair, Board of Directors of Toronto Community Housing Corporation, to the Audit Committee for information.

This report transmits materials submitted by the Board of Directors of Toronto Community Housing Corporation (TCHC) to the City. Management of TCHC confirms that all financial information was made available to the auditors for the performance of the audit.

This report recommends the actions necessary to comply with the requirements of the Business Corporations Act, for holding the Annual General Meeting of the Shareholder of TCHC, including receipt of its Annual Report and Audited Consolidated Financial Statements (Statements) for 2022 and appointment of the auditor for 2023.

TCHC's 2022 Statements were audited by KPMG LLP and received an unqualified opinion stating that the financial statements present fairly, in all material respects, the financial position of the TCHC as at December 31, 2022, and its results of operations for the year then ended in accordance with Canadian public sector accounting standards.

The report also provides information on subsidiaries and joint ventures, individual compensation of executive officers, and additional items as directed by the Shareholder.