The filed record
Third Quarter Financial Results
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The decision
2025-11-18 · CreateTO · amended
As filed
The Board of Directors of CreateTO: 1. Directed the Chief Executive Officer to provide financial reporting to the Board of Directors on a semi-annual basis for only the Second Quarter results and Year End results. 2. Directed the Chief Executive Officer to provide each Board member with First Quarter and Third Quarter financial results by email, consistent with the material submitted to the City, with management available to address any questions at the Board meeting following.
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3. Directed the Chief Executive Officer to continue presenting to the Board in a timely manner any significant transactions impacting the financial statements or not approved through the annual budget process.
On the agenda
As the city filed it
For the nine months ended September 30, 2025, CreateTO continues to operate on a net zero basis. Total expenditures are tracking $0.88 million lower than the budget, with annual expenditures expected to be in line with the approved budget of $15.39 million gross, $0 net. This report also proposes a change in the reporting frequency of financial results to the Board. Management is recommending CreateTO move from quarterly to semi-annual reporting to the Board.
Staff recommended
The Chief Executive Officer, CreateTO recommends: 1. The Board of Directors CreateTO approve a shift from quarterly to semi-annual financial reporting from CreateTO management to the Board.