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←Board of Directors of the Toronto Atmospheric Fund · 2020-02-14 · 2020.TA5.4

The filed record

2020 Business Plan and Budget

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The decision

2020-02-14 · Board of Directors of the Toronto Atmospheric Fund · adopted

As filed

The Board of Directors of Toronto Atmospheric Fund: 1. Approved Toronto Atmospheric Fund's 2020 Business Plan - Attachment 1 to the report (February 7, 2020) from the Chief Executive Officer, and Consolidated Operating Budget - Attachment 2 to the report (February 7, 2020) from the Chief Executive Officer.

On the agenda

As the city filed it

A 2020 Business Plan and Budget are presented for Board consideration and approval. It provides an overview of our priorities for the coming year, and outlines specific activities to be undertaken to achieve the stated objectives. The plan is guided by Toronto Atmospheric Fund's Strategic Directions and Theory of Change, understanding of the greenhouse gas emission sources and reduction opportunities across the Greater Toronto and Hamilton Area, perspectives on opportunities for climate policy implementation, and analysis of the successes and challenges experienced in our past work.

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It was designed and developed by the full staff team. Implementation of the Business Plan will be supported by the proposed 2020 Operating Budget of $5.6 million. Projected revenues are based on a maintaining the same performance on marketable securities as last year, with returns on the federal endowment starting only in the fourth quarter; returns on current and new Direct Investments; and a conservative estimate of external revenues. Expenditures are based on the available resources projected and compliance with the Payout Ratio established to protect the endowments. The budget reflects 13 core staff positions (incremental increase of 3) and ten term contract positions. The budget has been submitted for City approval with "net zero" impact on the City's budget.

Staff recommended

The Chief Executive Officer recommends that: 1. The Board of Directors of Toronto Atmospheric Fund approve Toronto Atmospheric Fund's 2020 Business Plan (Attachment 1) and Consolidated Operating Budget (Attachment 2).

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