Item - 2025.EX25.13

The Executive Committee recommends that:

1. City Council direct the 2023 operating surpluses of two of the centres (Central Eglinton Community Centre and Swansea Town Hall Community Centre) totalling $137,646 be paid to the City of Toronto and be used to partially fund the payment of operating deficits of $539,724 for seven centres (Applegrove Community Centre, Cecil Street Community Centre, Community Centre 55, Eastview Neighbourhood Community Centre, Ralph Thornton Community Centre, Scadding Court Community Centre and 519 Church Street Community Centre), resulting in a net operating deficits of $402,078 to be paid to the Association of Community Centres by the City, as illustrated in Appendix A  to the report (June 13, 2025) from the Chief Financial Officer and Treasurer.

On an annual basis, the City of Toronto receives the audited financial statements from 10 community centres which collectively are known as the City's Association of Community Centres (AOCCs). The audited financial statements assist the City to determine whether operating grant payments need to be provided to or clawed back from the AOCCs to settle their operating deficits or surpluses. The audited financial statements are based on the Public Sector Accounting Board (PSAB) requirements for government not-for-profit entities while the operating deficits or surpluses align with the modified cash basis of accounting.

This report recommends settlement with the Association of Community Centres for 2023 based on their audited financial results as of December 31, 2023.