Toronto Community Housing Corporation - Annual General Meeting and 2024 Audited Consolidated Financial Statements

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The decision

2025-07-23 · Toronto City Council · adopted

As filed

City Council on July 23 and 24, 2025, adopted the following: 1. City Council treat that portion of the City Council meeting at which the report (July 2, 2025) from the President and Chief Executive Officer and the General Counsel and Corporate Secretary, Toronto Community Housing Corporation is considered as the Annual General Meeting of the Shareholder for Toronto Community Housing Corporation by: a. receiving the Letter

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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, 2025 transmitting the "Toronto Community Housing Corporation 2024 Annual Report: Celebrating Community - Stories Across the City" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to the report (July 2, 2025) from the President and Chief Executive Officer and the General Counsel and Corporate Secretary, Toronto Community Housing Corporation; b. receiving the "Toronto Community Housing Corporation 2024 Audited Consolidated Financial Statements", forming Attachment 2 to the report (July 2, 2025) from the President and Chief Executive Officer and the General Counsel and Corporate Secretary, Toronto Community Housing Corporation; and c. acting as shareholder of the corporation, and in accordance with section 148 of the Business Corporations Act, dispense with the requirement set out in section 149(2) of the Act to appoint an auditor for the current financial year during this annual general meeting.

On the agenda

As the city filed it

This report transmits materials from the Board of Directors of Toronto Community Housing Corporation (TCHC) to the City. Management of TCHC confirms that 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, for holding the Annual General Meeting of the Shareholder of TCHC, including receipt of its Annual Report and Audited Consolidated Financial Statements (Statements) for 2024.

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TCHC's 2024 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 TCHC as of December 31, 2024, 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 Board of Directors of Toronto Community Housing Corporation 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, 2025 transmitting the "Toronto Community Housing Corporation 2024 Annual Report: Celebrating Community - Stories Across the City" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to this Report; b.

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receiving the "Toronto Community Housing Corporation 2024 Audited Consolidated Financial Statements", forming Attachment 2 to this Report; and c. acting as shareholder of the corporation dispense with the requirement to appoint an auditor for the current financial year during this annual general meeting pursuant to section 149(2) of the Business Corporations Act.

Considered

2025-07-16 · Executive Committee · amended
Decision as filed
The Executive Committee recommends that: 1. City Council treat that portion of the City Council meeting at which the report (July 2, 2025) from the President and Chief Executive Officer and the General Counsel and Corporate Secretary, Toronto Community Housing Corporation is considered as the Annual General Meeting of the Shareholder for Toronto Community Housing Corporation by: a. receiving the Letter to the Shareholder
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from the Toronto Community Housing Corporation's Chair of the Board of Directors and President and Chief Executive Officer dated April 30, 2025 transmitting the "Toronto Community Housing Corporation 2024 Annual Report: Celebrating Community - Stories Across the City" and "Additional Information" (including Executive Compensation Disclosure), forming Attachment 1 to the report (July 2, 2025) from the President and Chief Executive Officer and the General Counsel and Corporate Secretary, Toronto Community Housing Corporation; b. receiving the "Toronto Community Housing Corporation 2024 Audited Consolidated Financial Statements", forming Attachment 2 to the report (July 2, 2025) from the President and Chief Executive Officer and the General Counsel and Corporate Secretary, Toronto Community Housing Corporation; and c. acting as shareholder of the corporation, and in accordance with section 148 of the Business Corporations Act, dispense with the requirement set out in section 149(2) of the Act to appoint an auditor for the current financial year during this annual general meeting.
2025-07-23 · Toronto City Council · adopted

On the record

The item as the City filed it

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