Item - 2024.CT8.4

The Board of Directors of TO Live recommends that:  

1.  City Council direct the Chief Financial Officer and Treasure to transfer a one-time contribution of $450,000 from the TO Live 2023 Year-End Surplus to the TO Live Programming Reserve (XQ2033) as part of the City’s surplus management policy in the Operating Variance Report for the Twelve Months Ended December 31, 2023.

The Board of Directors of TO Live:  

1. Approved the 2023 fourth quarter financial operating results, as noted in Confidential Attachment 1 to the report (January 23, 2024) from the President and Chief Executive Officer, TO Live. 

2. Directed that Confidential Attachments 1 and 2 to the report (January 23, 2024) from the President and Chief Executive Officer, TO Live, remains confidential in their entirety because they contain financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or significantly interfere with the contractual or other negotiations of a person, group of persons, or organization.

The purpose of this report is to present the 2023 fourth quarter financial results to the Board.

At its meeting on February 12, 2024, TO Live - Finance and Audit Committee considered item RZ7.1 and made recommendations to the Board of Directors of TO Live.

Summary from the report (January 23, 2024) from the President and Chief Executive Officer, TO Live:
The purpose of this report is to present the 2023 fourth quarter financial results to the Board.