Item - 2026.TA16.3

The Director, Finance, Toronto Atmospheric Fund recommends that the Board of Directors of the Toronto Atmospheric Fund:

1.  Approve the 2027 Consolidated Operating Budget as presented in Attachment 1.

2.  Direct the Director, Finance, Toronto Atmospheric Fund to submit the 2027 Consociated Operating Budget to the City Financial Planning Division as part of the 2027 Budget Process.

Toronto Atmospheric Fund’s 2027 Operating Budget is presented for Board consideration and approval. Budgeted revenue is informed by the investment strategy and asset mix recommended by the Investment Committee which includes projected returns from marketable securities, expected returns from Toronto Atmospheric Fund's direct investment portfolio, projected returns on new investments, and committed external funding. Budgeted expenditures are aligned with the projected revenues, both proceeds and external funding, and are allocated to activities that advance Toronto Atmospheric Fund's mandate while adhering to the minimum grant and maximum administrative expense requirements and maintaining the nominal value of the Toronto, Ontario, and Canada endowments.

The 2027 Annual Plan, which will detail the objectives and activities for advancing climate solutions across the Greater Toronto and Hamilton Area (GTHA), will be developed within the approved budget framework and presented to the Board at its first meeting of 2027.

There is no financial impact to the City resulting from the adoption of the recommendations in this report. A draft budget has been submitted to the City of Toronto for consideration and approval reflecting a balanced and self-financed budget, with “net zero” impact on the City’s Operating and Capital budgets.