Arenas - 2023 and 2022 Audited Financial Statements and Status of Outstanding 2023 Audited Financial Statements

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The decision

2024-11-13 · Toronto City Council · adopted

As filed

City Council on November 13 and 14, 2024, adopted the following: 1. City Council receive the 2023 audited financial statements and management letter for the Larry Grossman Forest Hill Memorial Arena in Attachment 1 to the report (September 27, 2024) from the Auditor General for information. 2. City Council receive the 2022 audited financial statements and management letter for the Moss Park Arena in Attachment 2 to the report (September 27, 2024) from the Auditor General for information.

On the agenda

As the city filed it

The purpose of this report is to provide the Audit Committee and City Council with a status update on the 2023 and prior audited financial statements of Arenas. The 2023 audited financial statements for the eight City Arenas are presented to the Audit Committee after approval by their respective Boards or Committees of Management. Of the eight City Arenas, the audited financial statements for two Arenas were previously presented at the July 5, 2024 meeting of the Audit Committee.

Show the rest of As the city filed it, 599 more characters as filed

At the time of preparation of this report, there was one 2023 audited financial statement available for Arenas. The audits for four Arenas were in progress, while the audits of the remaining one Arena had not yet started. Depending on when the audits are completed, the Independent Auditor's Reports, accompanying financial statements and management control letters (if applicable) will be presented at a subsequent meeting of the Audit Committee. This report also provides City Council with the 2022 audited financial statements and management letter, where applicable, for the one remaining Arena.

Staff recommended

The Auditor General recommends that: 1. City Council receive the 2023 audited financial statements and management letter for the Larry Grossman Forest Hill Memorial Arena in Attachment 1 to this report for information. 2. City Council receive the 2022 audited financial statements and management letter for the Moss Park Arena in Attachment 2 to this report for information.

Considered

2024-10-15 · Audit Committee · adopted
Decision as filed
The Audit Committee recommends that: 1. City Council receive the 2023 audited financial statements and management letter for the Larry Grossman Forest Hill Memorial Arena in Attachment 1 to the report (September 27, 2024) from the Auditor General for information. 2. City Council receive the 2022 audited financial statements and management letter for the Moss Park Arena in Attachment 2 to the report (September 27, 2024) from the Auditor General for information.
2024-11-13 · Toronto City Council · adopted

On the record

The item as the City filed it