Procurement Policy

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The decision

2024-02-12 · Toronto Atmospheric Fund · amended

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Amended Section 3 of Attachment 1 to the report (January 29, 2024) from the Chief Executive Officer, Toronto Atmospheric Fund, so it now reads as follows: "3 Principles All procurements will adhere to the following principles: 3.1 Be fair, equitable, unbiased, open and transparent; 3.2 Provide TAF with quality goods and services and value for money, and protect

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TAF's endowments, and allow TAF to advance its mandate; 3.3 Maximize diversity, equity and inclusion and reduce and prevent barriers to participation; 3.4 Be free of perceived, potential, or actual conflicts of interest; 3.5 Use efficient, effective best practices applicable to the not-for-profit sector; and 3.6 Prioritize the purchase of environmentally responsible products and services wherever feasible." 2. Amended Section 9 of Attachment 1 to the report (January 29, 2024) from the Chief Executive Officer, Toronto Atmospheric Fund, so that it reads as follows: "9 POLICY REVIEW AND REVISIONS 9.1 TAF Board shall review this Policy at least every two (2) years to ensure that it remains aligned with all requirements and best practices and is meeting business needs and goals. 9.2 Dollar values for procurement methods and approval thresholds included in this Policy may be adjusted annually for inflation using the Bank of Canada's Consumer Price Index (CPI) Inflation Calculator, as approved by the CEO." 3. Approved the Procurement Policy, as amended in Parts 1 and 2 above, as presented in Attachment 1 to the report (January 29, 2024) from the Chief Executive Officer, Toronto Atmospheric Fund, which repeals and replaces the former Purchasing Policy, approved February 9, 2018 and amended April 30, 2019.

On the agenda

As the city filed it

A Procurement Policy is presented for Board approval. It reflects best practices, draws significantly on the City's procurement policy, and complies with the Broader Public Sector Accountability Act and other relevant requirements and authorities. This will enable Toronto Atmospheric Fund to undertake procurements independently as authorized by the Toronto Atmospheric Fund/City Relationship Framework.

Staff recommended

The Chief Executive Officer, Toronto Atmospheric Fund recommends that: 1. The Board of Directors of the Toronto Atmospheric Fund approve the Procurement Policy as presented in Attachment 1, which repeals and replaces the former Purchasing Policy, approved February 9, 2018 and amended April 30, 2019.

On the record

The item as the City filed it

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