Toronto Community Housing Corporation - Annual General Meeting and 2021 Audited Consolidated Financial Statements

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The decision

2022-07-19 · Toronto City Council · adopted

As filed

City Council on July 19, 20, 21 and 22, 2022, adopted the following: 1. City Council treat that portion of the City Council meeting at which the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer is considered as the Annual General Meeting of the Shareholder for Toronto Community Housing Corporation by: a. receiving the Letter to the Shareholder from the Toronto Community Housing Corporation's

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Chair of the Board of Directors and the President and Chief Executive Officer dated April 30, 2022 transmitting the "Toronto Community Housing Corporation 2021 Annual Report: Opening Doors with Purpose" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to the report (June 27, 2022) from the City Manager and the Chief Financial Officer and Treasurer; b. receiving the "Toronto Community Housing Corporation 2021 Audited Consolidated Financial Statements", forming Attachment 2 to the report (June 27, 2022) from the City Manager and the Chief Financial Officer and Treasurer; c. appointing KPMG LLP as the Auditor of Toronto Community Housing Corporation for fiscal year 2022, and authorizing the Board of Directors of Toronto Community Housing Corporation to set the fee of the Auditor; and d. receiving the Toronto Community Housing Corporation's executive compensation disclosure included in "Additional Information" of Attachment 1 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer. 2. City Council direct the City Clerk to forward a copy of the "Toronto Community Housing Corporation 2021 Audited Consolidated Financial Statements", forming Attachment 2 to the report (June 27, 2022) 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 Toronto Community Housing Corporation (TCHC) to the City. No independent review or analysis has been performed by City staff. Management of Toronto Community Housing Corporation (TCHC) has confirmed all financial information was made available to the auditors for the performance of the audit. This report recommends the actions necessary to comply with the requirements of the Business Corporations Act, Ontario (OBCA) for holding the Annual General Meeting of the Shareholder of Toronto Community Housing Corporation (TCHC), including receipt of its Annual Report and Audited Consolidated Financial Statements (Statements) for 2021 and appointment of the auditor for 2022.

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Toronto Community Housing Corporation's (TCHC's) 2021 Statements were audited by KPMG LLP and received an unqualified opinion stating that the financial statements present fairly, in all material respects, the financial position of the Toronto Community Housing Corporation (TCHC) as at December 31, 2021, and its results of operations for the year then ended in accordance with Canadian public sector accounting standards. The report also provides information on subsidiaries and joint ventures, individual compensation of executive officers, and additional items as directed by the Shareholder.

Staff recommended

The City Manager and 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 Toronto Community Housing Corporation by: a. receiving the Letter to the Shareholder from the Toronto Community Housing Corporation's Chair of the Board of Directors and President and Chief Executive Officer dated April 30, 2022 transmitting the "Toronto Community Housing Corporation 2021 Annual Report: Opening Doors with Purpose" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to this Report; b.

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receiving the "Toronto Community Housing Corporation 2021 Audited Consolidated Financial Statements", forming Attachment 2 to this Report; c. appointing KPMG LLP as the Auditor of Toronto Community Housing Corporation for fiscal year 2022, and authorizing the Board of Directors of Toronto Community Housing Corporation to set the fee of the Auditor; and d. receiving the Toronto Community Housing Corporation's executive compensation disclosure included in "Additional Information" of Attachment 1 to this Report. 2. City Council direct the City Clerk to forward a copy of the "Toronto Community Housing Corporation 2021 Audited Consolidated Financial Statements", forming Attachment 2 to this Report, to the Audit Committee for information.

Considered

2022-07-12 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends 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 Toronto Community Housing Corporation by: a. receiving the Letter to the Shareholder from the Toronto Community Housing Corporation's Chair of the Board of Directors and President and Chief Executive Officer dated April 30, 2022 transmitting the "Toronto Community Housing Corporation 2021 Annual Report: Opening Doors with Purpose" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer; b.
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receiving the "Toronto Community Housing Corporation 2021 Audited Consolidated Financial Statements", forming Attachment 2 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer; c. appointing KPMG LLP as the Auditor of Toronto Community Housing Corporation for fiscal year 2022, and authorizing the Board of Directors of Toronto Community Housing Corporation to set the fee of the Auditor; and d. receiving the Toronto Community Housing Corporation's executive compensation disclosure included in "Additional Information" of Attachment 1 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer. 2. City Council direct the City Clerk to forward a copy of the "Toronto Community Housing Corporation 2021 Audited Consolidated Financial Statements", forming Attachment 2 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer, to the Audit Committee for information.
2022-07-19 · Toronto City Council · adopted

On the record

The item as the City filed it

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