Casa Loma Corporation - Annual General Meeting and 2020 Audited Financial Statements

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The decision

2021-07-14 · Toronto City Council · adopted

As filed

City Council on July 14, 15 and 16, 2021, adopted the following: 1. City Council treat that portion of the City Council meeting at which the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer is considered as the Annual General Meeting of the Shareholder for Casa Loma Corporation by: a. receiving the "Casa Loma Corporation 2020 Annual Report, and the "Casa Loma Corporation 2020 Audited Financial Statements", forming Attachments 1 and 2 to the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer; and b.

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appointing Welch LLP as the Auditor of Casa Loma Corporation for fiscal year 2021 and authorizing the Board of Directors of Casa Loma Corporation to fix the remuneration of the Auditor. 2. City Council receive the "Casa Loma Corporation 2020 Financial Impacts of COVID-19 ", forming Attachment 3 to the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer. 3. City Council direct the City Clerk to forward a copy of the "Casa Loma 2020 Audited Annual Financial Statements", forming Attachment 2 to the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer, to the Audit Committee for information.

On the agenda

As the city filed it

This report transmits materials submitted by the Board of Directors of Casa Loma to the City and recommends actions necessary to comply with the requirements of the Business Corporations Act, Ontario (OBCA) for holding the Annual General Meeting of the Shareholder Casa Loma Corporation, including receipt of its Annual Report and Audited Financial Statements (Statements) for 2020 and appointment of the auditor for 2021.

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Casa Loma's 2020 Statements were audited by Welch LPP and received an unqualified opinion stating that the financial statements present fairly, in all material respects, the financial position of Casa Loma as at December 31, 2020, and its results of operations for the year then ended in accordance with Canadian public sector accounting standards. Limited review and analysis was performed by City staff. The report also responds to City Council's request to report the impact of COVID19 on the 2020 financial statements as well as any modifications to programs and initiatives to address the pandemic.

Staff recommended

The City Manager and the Chief Financial Officer and Treasurer recommend that: 1. City Council treat that portion of the City Council meeting at which this Report is considered as the Annual General Meeting of the Shareholder for Casa Loma Corporation by: a. receiving the "Casa Loma Corporation 2020 Annual Report, and the "Casa Loma Corporation 2020 Audited Financial Statements", forming Attachments 1 and 2 to this Report; and b.

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appointing Welch LLP as the Auditor of Casa Loma Corporation for fiscal year 2021 and authorizing the Board of Directors of Casa Loma Corporation to fix the remuneration of the Auditor. 2. City Council receive the "Casa Loma Corporation 2020 Financial Impacts of COVID-19 ", forming Attachment 3 to this Report. 3. City Council direct the City Clerk to forward a copy of the "Casa Loma 2020 Audited Annual Financial Statements", forming Attachment 2 to this Report, to the Audit Committee for information.

Considered

2021-07-06 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council treat that portion of the City Council meeting at which the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer is considered as the Annual General Meeting of the Shareholder for Casa Loma Corporation by: a. receiving the "Casa Loma Corporation 2020 Annual Report, and the "Casa Loma Corporation 2020 Audited Financial Statements", forming Attachments 1 and 2 to the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer; and b.
Show the rest of Decision as filed, 671 more characters as filed
appointing Welch LLP as the Auditor of Casa Loma Corporation for fiscal year 2021 and authorizing the Board of Directors of Casa Loma Corporation to fix the remuneration of the Auditor. 2. City Council receive the "Casa Loma Corporation 2020 Financial Impacts of COVID-19 ", forming Attachment 3 to the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer. 3. City Council direct the City Clerk to forward a copy of the "Casa Loma 2020 Audited Annual Financial Statements", forming Attachment 2 to the report (June 21, 2021) from the City Manager and the Chief Financial Officer and Treasurer, to the Audit Committee for information.
2021-07-14 · Toronto City Council · adopted

On the record

The item as the City filed it

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