Business Improvement Areas (BIAs) - 2018 Audited Financial Statements - Report No. 1

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The decision

2019-07-16 · Toronto City Council · adopted

As filed

City Council on July 16, 17 and 18, 2019, adopted the following: 1. City Council approve the 2018 audited financial statements and management letters of the forty-nine (49) Business Improvement Areas and the 2017 audited financial statements and management letters of the nine (9) Business Improvement Areas attached as Appendices A to BK to the report (June 3, 2019) from the Controller and the General Manager, Economic Development and Culture.

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2. City Council direct those Business Improvement Areas with outstanding audit issues to implement the management letter recommendations and request the Auditor General to provide an update report to the October 25, 2019 meeting of the Audit Committee.

On the agenda

As the city filed it

The purpose of this report is to present the City of Toronto's (City) Business Improvement Areas (BIAs) audited financial statements and management letters for approval. The report contains the 2018 audited financial statements and management letters for forty-nine (49) entities and the 2017 audited financial statements and management letters for nine (9) entities. All 2017 audited financial statements have now been presented for approval, with the exception of Historic Queen BIA, which has not presented a budget request for approval since 2009, therefore, does not have any revenues or expenses to report.

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Audit recommendations, accepted by the respective BIA Boards of Management, are included in the attached management letters.

Staff recommended

The Controller and the Director of Business Growth Services, Economic Development and Culture recommend that: 1. City Council approve the 2018 audited financial statements and management letters of the forty-nine (49) Business Improvement Areas and the 2017 audited financial statements and management letters of the nine (9) Business Improvement Areas attached as Appendices A to BK of this report.

Considered

2019-06-28 · Audit Committee · amended
Decision as filed
The Audit Committee recommends that: 1. City Council approve the 2018 audited financial statements and management letters of the forty-nine (49) Business Improvement Areas and the 2017 audited financial statements and management letters of the nine (9) Business Improvement Areas attached as Appendices A to BK to the report (June 3, 2019) from the Controller and the General Manager, Economic Development and Culture. 2.
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City Council direct those Business Improvement Areas with outstanding audit issues, to implement the management letter recommendations, and request the Auditor General to provide an update report to the October 25, 2019 meeting of the Audit Committee.
2019-07-16 · Toronto City Council · adopted

On the record

The item as the City filed it

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