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←Audit Committee · 2019-06-28 · 2019.AU3.9

The filed record

Sinking Funds - 2018 Audited Financial Statements

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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 Sinking Funds Statements as attached in Appendix A to the report (June 10, 2019) from the Controller.

On the agenda

As the city filed it

The City of Toronto (City) maintains portfolios of sinking funds in order to build up funds used to repay City debt when it matures. Sinking fund contributions are invested; the investment earnings help reduce the amount of City own-source cash used to repay amounts borrowed. This report presents the City of Toronto's Sinking Funds Financial Statements for the year ended December 31, 2018 and provides highlights of the Sinking Funds' 2018 financial performance as of December 31, 2018.

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The Sinking Fund financial statements are audited by PricewaterhouseCoopers (PwC). The City received an unqualified audit opinion and no internal control recommendations related to the 2018 Sinking Fund financial statements.

Staff recommended

The Controller recommends that: 1. City Council approve the 2018 Sinking Funds Statements as attached in Appendix A of this report.

Considered

  • 2019-06-28 · Audit Committee · adopted

    Decision as filed

    The Audit Committee recommends that: 1. City Council approve the 2018 Sinking Funds Statements as attached in Appendix A to the report (June 10, 2019) from the Controller.

  • 2019-07-16 · Toronto City Council · adopted

On the record

The item as the City filed it

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