Item - 2024.PR5.6

The Toronto Parking Authority – Audit and Risk Management Committee recommends that:

1. The Board of Directors of the Toronto Parking Authority receive the report (April 6, 2024) from the President, Toronto Parking Authority for information.

Toronto Parking Authority aspires to be the world's best provider of sustainable parking, Bike Share and last mile mobility experiences. As part of this journey, Management is continually seeking opportunities to streamline its policies, systems, and decision-making processes to provide greater agility for Team Toronto Parking Authority to deliver real-time outcomes and compete in the marketplace.

The purpose of this report is to provide the Toronto Parking Authority - Audit and Risk Management Committee and the Board of Directors of the Toronto Parking Authority with a preview of amendments that Management will be proposing to Toronto Parking Authority Policy Resolution 5-10: Delegation of Authority and a proposed delegation of operationally focused policies to the President, Toronto Parking Authority. Formal approval will be requested at the July 19, 2024, meeting of the Board.

Management is proposing to clarify an inconsistency in Toronto Parking Authority Policy Resolution 5-10: Delegation of Authority with Toronto Parking Authority Policy Resolution 5-7: Procurement and provide a modest increase in the President's authority to amend contracts originally awarded in an amount greater than $500,000 by the lesser of twenty percent (instead of fifteen percent) or a further $500,000 in commitments. Administrative amendments are also proposed to simplify and clarify language to ensure consistency in the application of the policy.

At the same time, Management is proposing that the Board of Directors of the Toronto Parking Authority delegate its authority over seventy-eight (75) operationally focused Toronto Parking Authority Policy Resolutions that address internal practices and procedures governing the day-to-day activities and operations of the organization. These policies, which are summarized in Appendix C will be the subject of a comprehensive review to ensure that there is alignment with Toronto Parking Authority 's current mandate and commercial focus to drive revenue. It is expected that this review will drive a reduction in the number of policies that are now redundant or no longer applicable.

The twenty-eight (28) remaining policies are proposed to remain under the oversight of the Board of Directors of the Toronto Parking Authority. These policies address governance, risk and/or compliance-based issues where the Board of Directors of the Toronto Parking Authority has express responsibility for ensuring that Toronto Parking Authority complies with the requirements of law, policies identified in the City of Toronto - Toronto Parking Authority Relationship Framework and decisions by Council where Council has required that Toronto Parking Authority comply with the requirements of the decision. Appendix D includes a summary of the Policy Resolutions that Toronto Parking Authority is proposing remain under the oversight of the Board.