Item - 2024.RZ7.1
Tracking Status
- This item was considered by TO Live - Finance and Audit Committee on February 12, 2024 and was adopted without amendment.
- See also 2024.CT8.4
RZ7.1 - 2023 Fourth Quarter Financial Results and Commentary
- Decision Type:
- ACTION
- Status:
- Adopted
Confidential Attachment - Contains financial information supplied in confidence to the Board of Directors to 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
Committee Decision
The TO Live - Finance and Audit Committee recommends that the Board of Directors of TO Live:
1. Approve the 2023 fourth quarter financial operating results, as noted in Confidential Attachment 1.
2. Request that City Council consider 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 31st, 2023.
3. Direct that Confidential Attachments 1 and 2 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.
Decision Advice and Other Information
The TO Live - Finance and Audit Committee recessed its public session to meet in closed session to consider the item as it pertains to financial information supplied in confidence to the Board of Directors to 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.
Origin
Summary
The purpose of this report is to present the 2023 fourth quarter financial results to the Board.
Background Information
https://www.toronto.ca/legdocs/mmis/2024/rz/bgrd/backgroundfile-242777.pdf
Confidential Attachment 1 - 2023 Fourth Quarter Operating Results Commentary
Confidential Attachment 2 - 2023 Fourth Quarter Statement of Contribution Margin