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←Executive Committee · 2022-07-12 · 2022.EX34.28

The filed record

Build Toronto - 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 the Chief Financial Officer and Treasurer is considered as the Annual General Meeting of the Shareholder for Build Toronto by: a. receiving the "Build Toronto Inc. 2021 Annual Report" Letter to the Shareholder from CreateTO's Chief Executive Officer transmitting the "CreateTO 2021 Performance Report", the "Build Toronto 2021 Audited Consolidated Financial Statements" forming Attachments 1 and 2 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer; respectively; and b.

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appointing KPMG LLP as the Auditor of Build Toronto for fiscal year 2022. 2. City Council direct the City Clerk to forward a copy of the "Build Toronto 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 Build Toronto (BT) to the City of Toronto (City). No independent review or analysis has been performed by City staff. Management of BT has confirmed all financial information was made available to the auditors for the performance of the audit. This report recommends actions necessary to comply with the requirements of the Business Corporations Act, Ontario (OBCA) for holding the Annual General Meeting of the Shareholder of Build Toronto, 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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Build Toronto'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 consolidated financial position of Build Toronto as of December 31, 2021, and its consolidated financial performance for the year then ended in accordance with International Financial Reporting Standards (IFRS).

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 Build Toronto by: a. receiving the "Build Toronto Inc. 2021 Annual Report" Letter to the Shareholder from CreateTO's Chief Executive Officer transmitting the "CreateTO 2021 Performance Report", the "Build Toronto 2021 Audited Consolidated Financial Statements" forming Attachments 1 and 2 to this Report; respectively; and b.

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appointing KPMG LLP as the Auditor of Build Toronto for fiscal year 2022. 2. City Council direct the City Clerk to forward a copy of the "Build Toronto 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 Build Toronto by: a. receiving the "Build Toronto Inc. 2021 Annual Report" Letter to the Shareholder from CreateTO's Chief Executive Officer transmitting the "CreateTO 2021 Performance Report", the "Build Toronto 2021 Audited Consolidated Financial Statements" forming Attachments 1 and 2 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer; respectively; and b.

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    appointing KPMG LLP as the Auditor of Build Toronto for fiscal year 2022. 2. City Council direct the City Clerk to forward a copy of the "Build Toronto 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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