Establishment of Audit Committee

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2019-11-08 · Board of Directors of the Toronto Atmospheric Fund · amended

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Approved the establishment of an Audit Committee with Terms of Reference as outlined in Attachment 1 to the report (October 25, 2019) from the Director of Finance and Operations. 2. Appointed the following three TAF Board members to the Audit Committee: 1. Jacoline Loewen (Chairperson) 2. Kimberly Marshall 3. Deepak Ramachandran.

On the agenda

As the city filed it

This report recommends the establishment of an Audit Committee and associated Terms of Reference. While this function has been undertaken by the Board as a whole, the addition of the $40 million Federal endowment will increase the volume and complexity of TAF's financial reporting, warranting additional oversight.

Staff recommended

The Director of Finance recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Approve the establishment of an Audit Committee with Terms of Reference as outlined in Attachment 1. 2. Appoint three TAF Board members to the Audit Committee.

On the record

The item as the City filed it