Item - 2025.EX25.29
Tracking Status
- City Council adopted this item on July 23 and 24, 2025 without amendments and without debate.
- This item was considered by Executive Committee on July 16, 2025 and was adopted with amendments. It will be considered by City Council on July 23 and 24, 2025.
EX25.29 - Toronto Seniors Housing Corporation Annual General Meeting and 2024 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on July 23 and 24, 2025, adopted the following:
1. City Council treat that portion of the City Council meeting at which the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation is considered as the Annual General Meeting of the Shareholder for Toronto Seniors Housing Corporation, and:
a. receive the Board-approved "Toronto Seniors Housing Corporation 2024 Annual Report" as set out in Attachment 1 to the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation;
b. receive the Board-approved "Toronto Seniors Housing Corporation 2024 Audited Financial Statements " as set out in Attachment 2 to the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation;
c. acting as shareholder of the corporation, and in accordance with section 148 of the Business Corporations Act, dispense with the requirement set out in section 149(2) of the Act to appoint an auditor for the current financial year during this annual general meeting; and
d. receive the Toronto Seniors Housing Corporation's 2024 executive compensation disclosure as set out in Attachment 3 to the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256905.pdf
Attachment 1 - Toronto Seniors Housing Corporation 2024 Annual Report
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256909.pdf
Attachment 2 - Toronto Seniors Housing Corporation 2024 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256910.pdf
Attachment 3 - Toronto Seniors Housing Corporation 2024 Executive Compensation Disclosure
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256911.pdf
Attachment 4 - Toronto Seniors Housing Corporation Annual General Meeting and 2024 Audited Financial Statements - Board Report
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256912.pdf
EX25.29 - Toronto Seniors Housing Corporation Annual General Meeting and 2024 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council treat that portion of the City Council meeting at which the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation is considered as the Annual General Meeting of the Shareholder for Toronto Seniors Housing Corporation, and:
a. receive the Board-approved "Toronto Seniors Housing Corporation 2024 Annual Report" as set out in Attachment 1 to the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation;
b. receive the Board-approved "Toronto Seniors Housing Corporation 2024 Audited Financial Statements " as set out in Attachment 2 to the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation;
c. acting as shareholder of the corporation, and in accordance with section 148 of the Business Corporations Act, dispense with the requirement set out in section 149(2) of the Act to appoint an auditor for the current financial year during this annual general meeting; and
d. receive the Toronto Seniors Housing Corporation's 2024 executive compensation disclosure as set out in Attachment 3 to the report (June 25, 2025) from the Chief Executive Officer, Toronto Seniors Housing Corporation.
Origin
Summary
Enclosed are the materials in support of the Toronto Seniors Housing Corporation Annual General Meeting and 2024 Audited Financial Statements reporting to the City of Toronto and City Council as per the requirements of the Shareholder Direction.
Background Information
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256905.pdf
Attachment 1 - Toronto Seniors Housing Corporation 2024 Annual Report
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256909.pdf
Attachment 2 - Toronto Seniors Housing Corporation 2024 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256910.pdf
Attachment 3 - Toronto Seniors Housing Corporation 2024 Executive Compensation Disclosure
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256911.pdf
Attachment 4 - Toronto Seniors Housing Corporation Annual General Meeting and 2024 Audited Financial Statements - Board Report
https://www.toronto.ca/legdocs/mmis/2025/ex/bgrd/backgroundfile-256912.pdf
Motions
That Executive Committee amend Recommendation 1.c. so that it now reads:
1.c. acting as shareholder of the corporation, and in accordance with section 148 of the Business Corporations Act, dispense with the requirement set out in section 149(2) of the Act to appoint an auditor for the current financial year during this annual general meeting pursuant to section 149(2) of the Business Corporations Act; and