Item - 2025.AU9.17

City Council on July 23 and 24, 2025, adopted the following:

1. City Council, in accordance with Section 139 of the City of Toronto Act, 2006, appoint KPMG LLP as an external auditor, licensed under the Public Accounting Act, 2004, to perform the annual financial statement audits of the City and certain Agencies and Corporations and express an opinion on the financial statements of these entities, based on the audit.

2. City Council authorize the Controller and Chief Accountant to award and enter into an agreement in the amount of $5,120,000 net of all applicable taxes and charges ($5,210,112 net of Harmonized Sales Tax recoveries) with KPMG LLP, the highest scoring supplier meeting the requirements of the Request for Proposal.

3. City Council, acting as shareholder, appoint KPMG LLP as the Auditor for fiscal year 2025 for each corporation listed below, and authorize the Board of Directors of each corporation to fix the Auditor’s remuneration:

a. Build Toronto Inc.;

b. Toronto Economic Development Inc. (carrying on business as Toronto Port Lands Company);

c. Toronto Community Housing Corporation; and

d. Toronto Seniors Housing Corporation.

4. City Council direct that Confidential Attachment 1 to the report (June 26, 2025) from the Controller and Chief Accountant and the Chief Procurement Officer remain confidential, as it pertains to financial information, supplied in confidence to the City of Toronto, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

5. City Council authorize the public release of Confidential Attachment 1 to the report (June 26, 2025) from the Controller and Chief Accountant, and the Chief Procurement Officer upon the execution of the agreement contemplated in Part 2 above.

Confidential Attachment 1 to the report (June 26, 2025) from the Controller and Chief Accountant and the Chief Procurement Officer remains confidential at this time in accordance with the provisions of the City of Toronto Act, 2006, as it pertains to financial information, supplied in confidence to the City of Toronto, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization. Confidential Attachment 1 to the report (June 26, 2025) from the Controller and Chief Accountant and the Chief Procurement Officer will be made public upon the execution of the agreement.