Audit Committee
The full agenda, as filed
All 18 items in the clerk’s order. Each carries the city’s own words: the staff recommendation, what the body decided, and its status. Nothing below is written by us.
AU9.1adopted
2024 Audited Financial Statements - Consolidated City, Sinking Funds, and Consolidated Trust Funds
This report presents the City of Toronto's Consolidated Financial Statements, the Sinking Funds Financial Statements and the Consolidated Trust Funds Financial Statements for the year ended December 31, 2024. All City financial statements are prepared in accordance with Public Sector Accounting Standards established by the Public Sector Accounting Board of the Chartered Professional Accountants of Canada. The City's external auditors, KPMG LLP, issued a clean audit opinion (also referred to as an unqualified audit opinion) on the City's 2024 Consolidated Financial Statements, Sinking Funds Financial Statements, and Trust Funds Financial Statements. The Audit Committee is responsible for adopting the financial statements prior to City Council's approval.
The Audit Committee recommends that: 1. City Council approve the 2024 Consolidated Financial Statements in Appendix B to the report (June 26, 2025) from the Chief Financial Officer and Treasurer, and the Controller and Chief Accountant. 2. City Council approve the 2024 Sinking Funds Financial Statements in Appendix C to the report (June 26, 2025) from the Chief Financial Officer and Treasurer, and the Controller and Chief Accountant. 3. City Council approve the 2024 Consolidated Trust Funds Financial Statements in Appendix D to the report (June 26, 2025) from the Chief Financial Officer and Treasurer, and the Controller and Chief Accountant. 4. City Council delegate authority to the Chief Financial Officer and Treasurer to approve accounting adjustments in the City's accounting records and system(s) when deemed necessary and provided that the adjustments do not conflict with the commitment authority delegated to him or her by the City Manager and / or other City by-laws.
Staff recommendation as filed
The Chief Financial Officer and Treasurer, and the Controller and Chief Accountant recommend that: 1. City Council approve the 2024 Consolidated Financial Statements in Appendix B to this report. 2. City Council approve the 2024 Sinking Funds Financial Statements in Appendix C to this report. 3. City Council approve the 2024 Consolidated Trust Funds Financial Statements in Appendix D to this report. 4. City Council delegate authority to the Chief Financial Officer and Treasurer to approve accounting adjustments in the City's accounting records and system(s) when deemed necessary and provided that the adjustments do not conflict with the commitment authority delegated to him or her by the City Manager and / or other City by-laws.
AU9.2amended
City of Toronto Audit Findings Report for the Year Ended December 31, 2024
At its meeting of June 29, 2020, in item 2020.AU5.7 , City Council appointed KPMG LLP as the auditor licensed under the Public Accounting Act, 2004 responsible for annually auditing the accounts and transactions of the City and certain of its local boards and expressing an opinion on the financial statements of these bodies based on the audit. KPMG LLP presents the City of Toronto Audit Planning Report for the Year Ended December 31, 2024 for the 2024 audit of the consolidated financial statements for the City of Toronto.
The Audit Committee recommend that: 1. City Council receive the City of Toronto Audit Findings Report for the Year Ended December 31, 2024 (June 26, 2025) from KPMG LLP for information.
AU9.3amended
Financial Statements and Audit Findings for the Year Ended December 31, 2024 - Agencies
The following 2024 Financial Statements and related documents for the year ended December 31, 2024 have been submitted to the Audit Committee for consideration: - CreateTO - Exhibition Place - Heritage Toronto - Sankofa Square - TO Live - Toronto Atmospheric Fund - Toronto Parking Authority - Toronto Public Library - Toronto Transit Commission - Toronto Zoo
The Audit Committee recommends that: 1. City Council approve the CreateTO 2024 Audited Financial Statements in Attachment 3 to the report (April 4, 2025) from the Chief Executive Officer, CreateTO. 2. City Council approve the Toronto Parking Authority 2024 Audited Financial Statements in Attachment 2 to the report (April 10, 2025) from the President, Toronto Parking Authority. 3. City Council receive for information the CreateTO Highlights Report, in Attachment 1 to the report (April 4, 2025) from the Chief Executive Officer, CreateTO. 4. City Council receive for information the Exhibition Place 2024 Audit Financial Statements in Attachment 1 to the report (May 30, 2025) from the Chief Executive Officer, Exhibition Place and the Audit Findings Report in Attachment 3 to the report (May 30, 2025) from the Chief Executive Officer, Exhibition Place. 5. City Council receive for information the Heritage Toronto 2024 Audited Financial Statements in Attachment 1 to the letter (June 9, 2025) from the Board of Directors, Heritage Toronto, and the Audit Findings Report to the Board in Attachment 2 to the letter (June 9, 2025) from the Board of Directors, Heritage Toronto of the report (March 20, 2025) from the Executive Director, Heritage Toronto, and the Management Representation Letter in Attachment 3 to the letter (June 9, 2025) from the Board of Directors, Heritage Toronto. 6. City Council receive for information the Sankofa Square 2024 Audited Financial Statements and Auditors Report in Attachment 1 to the letter (June 26, 2025) from the Board of Management, Sankofa Square, and the Management Representation Letter dated April 22, 2025 in Attachment 2 to the letter (June 26, 2025) from the Board of Management, Sankofa Square. 7. City Council receive for information the TO Live 2024 Audited Financial Results in Attachment 1 to the report (March 25, 2025) from the President and Chief Executive Officer, TO Live and Audit Findings Report in Attachment 2 to the report (March 25, 2025) from the President and Chief Executive Officer, TO Live. 8. City Council receive for information the Toronto Atmospheric Fund 2024 Audited Consolidated Financial Statements as presented in Attachment 1 to the report (April 25, 2025) from the Director of Finance, Toronto Atmospheric Fund. 9. City Council receive for information the Toronto Public Library 2024 Audited Financial Statements in Attachment 1 to the letter (June 23, 2025) from the Toronto Public Library Board, and the Audit Findings in Attachment 2 to the letter (June 23, 2025) from the Toronto Public Library Board. 10. City Council receive for information the Toronto Transit Commission Draft Consolidated Financial Statements of Toronto Transit Commission for the Year Ended December 31, 2024 in the Attachment to the report (June 9, 2025) from the Deputy Chief Executive Officer, and the Audit Findings Report in the Attachment to the report (June 9, 2025) from the Deputy Chief Executive Officer. 11. City Council receive for information the Toronto Zoo 2024 Audit Results in Attachment 1 to the report (May 23, 2025) from the Chief Transformation Officer, Toronto Zoo and the Toronto Zoo Financial Statements - Year Ended 2024-12-31 in Attachment 1 to the report (May 23, 2025) from the Chief Transformation Officer, Toronto Zoo.
AU9.4adopted
The purpose of this report is to provide the Audit Committee and City Council with the status of financial statement audits of the City's Agencies and Corporations for the year ended December 31, 2024.
The Audit Committee recommend that: 1. City Council receive the report (June 26, 2025) from the Auditor General on the status of the financial statement audits of the City's Agencies and Corporations for the year ended December 31, 2024 for information.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council receive this report on the status of the financial statement audits of the City's Agencies and Corporations for the year ended December 31, 2024.
AU9.5adopted
The Auditor General follows up on her reports to review management actions taken to implement the recommendations adopted by City Council and to ensure that intended benefits are being achieved. At the beginning of this follow-up cycle in May 2024, management reported 209 recommendations as fully implemented or no longer applicable. We selected 169 recommendations (157 for City divisions and 12 for Toronto Community Housing Corporation) to review in this follow-up cycle. These included 120 high priority recommendations. In addition, we also followed up on our Toronto Police Service 2021 Cybersecurity report. The assessments for the 157 City division recommendations concluded that 120 are fully implemented, 7 are no longer applicable, and 30 are not fully implemented. Given the importance of the three Auditor General reports on the Winter Maintenance Program and additional work requested by City Council after the February 2025 snowstorm, the follow-up results of the 19 winter maintenance program recommendations reported by Transportation Services as fully implemented are reported on separately. The results of the follow-up for Toronto Community Housing Corporation and Toronto Police Service will be reported separately to their respective Boards in July 2025. Since 1999, the Auditor General has made 3,654 recommendations and verified 87 per cent of these as fully implemented or no longer applicable. The detailed results from this follow-up review are discussed in Attachment 1.
The Audit Committee recommend that: 1. City Council direct that the confidential information contained in Confidential Attachment 1 to the report (June 26, 2025) from the Auditor General remain confidential in its entirety, as it contains information that involves the security of property of the City of Toronto or one of its agencies and corporations, or the information is about labour relations or employee negotiations, or deals with personal matters about an identifiable person.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it contains information that involves the security of property of the City of Toronto or one of its agencies and corporations, or the information is about labour relations or employee negotiations, or deals with personal matters about an identifiable person.
AU9.6amended
2025 Winter Maintenance Program Follow-Up: Status of Auditor General’s Previous Recommendations
Contracted winter maintenance services are part of the City's snow and ice management plan to ensure the safety and mobility of all road, sidewalk, cycle, and path users. In March 2025, City Council requested the Auditor General to review whether previous Auditor General recommendations related to winter maintenance operations were implemented by City management ahead of the February 2025 winter storm ( 2025.EX21.1 ). This report presents the status of the 30 recommendations made in three of the Auditor General's previous reports related to the Winter Maintenance Program: 1. Audit of Winter Road Maintenance Program - Phase One: Leveraging Technology and Improving Design and Management of Contracts to Achieve Service Level Outcomes (October 2020) 2. Winter Road Maintenance Program - Phase 2 Analysis: Deploying Resources (June 2021) 3. Winter Maintenance Program Follow-Up - Status of Previous Auditor General's Recommendations and Processes to Hold Contractors Accountable to New Contract Terms (June 2023) In the 2023 follow-up, 11 recommendations were closed. For this follow-up cycle, management reported that the remaining 19 recommendations were fully implemented. We verified that eight are fully implemented, two are no longer applicable and closed, and nine are still in progress and are not fully implemented. Our report also includes three new recommendations for the Transportation Services Division to continue improving how it oversees and manages the current winter maintenance contracts going forward. Fully implementing the remaining nine recommendations from our previous reports, along with the three new recommendations in this report will help management more efficiently and effectively monitor contractor performance, report on service level achievement, and apply liquidated damages and performance-based price adjustments in accordance with the terms of the winter maintenance service contracts.
The Audit Committee recommends that: 1. City Council request the General Manager, Transportation Services to implement a structured process for managing route map updates to improve accountability and enable effective real-time monitoring throughout the season by: a. providing updated Geographic Information System data and infrastructure changes to contractors in advance of the winter season; b. requiring contractors to submit finalized route maps incorporating these updates before the start of the season; and c. ensuring the finalized route maps are uploaded to the Global Positioning System dashboard before winter operations begin. 2. City Council request the General Manager, Transportation Services to incorporate longer street segments and additional risk-based samples into field audit reports to improve coverage, enhance quality assurance, and identify contractor deficiencies. 3. City Council request the General Manager, Transportation Services to: a. review whether there is a systemic issue with contractor performance due to contractors using single-axle vehicles on local roads; and b. ensure contractors achieve the required pavement outcomes within the time specified in the contract when single-axle vehicles are used on local roads and apply performance-based price adjustments when contractors do not meet performance requirements. 4. City Council request the General Manager, Transportation Services, to include feedback from Members of Council for their real-time, in-year, risk assessments used to monitor and evaluate contractor performance, and to also use this input in future years; and to provide annual briefs to Members of Council on the risk profiles within their wards. 5. City Council request the General Manager, Transportation Services, to implement Global Positioning System and data-based controls to detect instances when work has been completed in a timeframe that is implausibly fast, and to enter this into the risk based contract management processes.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council request the General Manager, Transportation Services Division to implement a structured process for managing route map updates to improve accountability and enable effective real-time monitoring throughout the season by: a. providing updated Geographic Information System data and infrastructure changes to contractors in advance of the winter season; b. requiring contractors to submit finalized route maps incorporating these updates before the start of the season; and c. ensuring the finalized route maps are uploaded to the Global Positioning System dashboard before winter operations begin. 2. City Council request the General Manager, Transportation Services Division to incorporate longer street segments and additional risk-based samples into field audit reports to improve coverage, enhance quality assurance, and identify contractor deficiencies. 3. City Council request the General Manager, Transportation Services Division to: a. review whether there is a systemic issue with contractor performance due to contractors using single-axle vehicles on local roads; and b. ensure contractors achieve the required pavement outcomes within the time specified in the contract when single-axle vehicles are used on local roads and apply performance-based price adjustments when contractors do not meet performance requirements.
AU9.7amended
Audit of Transportation Services: Improving Utility Cut Permit and Inspection Processes
The Transportation Services Division maintains City roads and sidewalks to ensure they remain safe and accessible for all users. Each year, the Utility Management Unit of Transportation Services issues approximately 35,000 utility cut permits to authorized public utility companies. The Auditor General's 2025 Work Plan included an audit of Transportation Services' Utility Cut Program to review its permit and inspection processes. A "utility cut" refers to excavating a portion of the public right-of-way (e.g., pavement, sidewalks or boulevards) to provide access to underground utilities, such as water mains, power lines, and telecommunications infrastructure. Utility cuts can lead to traffic disruptions and construction-related dust and noise complaints. Improper restoration of utility cuts can also deteriorate City roads and sidewalks or result in road hazards, increasing the safety risk for drivers, cyclists and pedestrians. As a result, it is crucial for the City to effectively manage the utility cut process. Our audit identified opportunities for improvement in the following areas: A. Improve Application Processing Time and Implement Consistent Practices for reviewing and Documenting Permit Applications B. Improve Inspections and Deficiency Monitoring C. Establish an Effective Cost Recovery Fee Structure D. Better Track and Integrate Utility Cut Data
The Audit Committee recommends that: 1. City Council request the General Manager, Transportation Services, to improve tracking and timeliness of the utility cut permit application review and approval process by: a. ensuring that permit status and key application timelines (e.g., submission, first review, and resubmission dates) are accurately tracked to better monitor the permit process timeliness and identify delays and causes for delays; b. ensuring factors such as preliminary review work, new permit versus permit extensions, and Road Allowance Control System versus email submissions are tracked, to enable accurate processing time metrics and help staff identify delay causes; and c. expanding the use of online submissions to reduce reliance on manual email submission and improve efficiency of the permit process. 2. City Council request the General Manager, Transportation Services, to strengthen oversight of the utility cut permit process by taking the following actions: a. establish a Memorandum of Understanding with Toronto Water and other internal City stakeholders to clearly define roles and responsibilities for utility cut permits and ensure they are clearly understood and agreed upon; b. establish processes to centrally track permits issued and inspections conducted by other divisions, such as Toronto Water, and to ensure that inspection results are consistently stored in a centralized system; and c. review and deactivate unused accounts, restrict permit approval privileges to authorized staff, and implement appropriate tools or procedures to ensure oversight of user roles and access levels. 3. City Council request the General Manager, Transportation Services, to develop and implement a quality assurance process for all permit streams, including standardized checklists aligned with applicable policies and standards for reviewing permit applications to ensure that necessary conflict approvals are obtained, and appropriate documentation is maintained to support compliance and accountability. 4. City Council request the General Manager, Transportation Services, to strengthen coordination and communication between the Utility Management Unit and the Work Zone Construction Coordination Unit to improve oversight of utility cut activities by: a. establishing a standardized communication protocol between the two units to ensure timely updates on permits and inspections; b. ensuring all Road Disruption Activity Reporting System approvals are linked to valid and accurate Road Allowance Control System permit numbers, and that all completed permits have corresponding Road Disruption Activity Reporting System approvals; and c. implementing a process to enforce compliance with Road Disruption Activity Reporting System approval requirements through actions including, but not limited to, inspecting QR code construction signs and recovering administrative costs for non-compliance. 5. City Council request the General Manager, Transportation Services, to develop and implement a structured process to manage and track the inspections throughout the entire permit life cycle until its warranty period is completed, specifically: a. ensure timely permanent restoration and warranty inspections are performed for all permits; and b. ensure a warranty start date is clearly defined and supported by inspection for all permits that come to the warranty stage. 6. City Council request the General Manager, Transportation Services, to set up a structured training program that is periodically updated to reflect new processes, and to provide refresher training to inspectors so they have clear guidance on how to carry out and document inspections properly, ensuring all evidence is complete, accurate, and uploaded into Maximo. 7. City Council request the General Manager, Transportation Services, to develop and implement a formal process for conducting material testing and monitoring material testing deficiencies. 8. City Council request the General Manager, Transportation Services, to develop and implement a formal process to monitor permits where deficiencies are identified. The process should include but not be limited to the following items: a. maintain a centralized report to track permits with deficiencies, resolution timelines, and statuses; b. develop a protocol to inform utility companies about the deficiencies before warranty expires; and c. ensure re-inspection of resolved deficiencies is performed and documented. 9. City Council request the General Manager, Transportation Services, to establish formal service standards on service requests and enhance documentation practices to include actions taken with supporting evidence. 10. City Council request the General Manager, Transportation Services, to update and report on its key performance indicators and targets, and investigate and take timely corrective actions when performance issues are identified. 11. City Council request the General Manager, Transportation Services, to implement a process to charge pavement degradation fees and to recover past and ongoing costs of road damage caused by utility cuts. 12. City Council request the General Manager, Transportation Services, to determine and propose any adjustments needed to the fee structure to reflect the full cost of program delivery, including inspections, compliance enforcement, and administrative support. 13. City Council request the General Manager, Transportation Services, in consultation with Legal Services where appropriate, to make best efforts to recover all outstanding permanent restoration costs for work performed on the legacy utility cut permits. 14. City Council request the General Manager, Transportation Services, to implement an effective permit system that integrates with the inspection system for more efficient processing and tracking of permits and inspection data. 15. City Council request the General Manager, Transportation Services, to provide a list of permits, timing, and sequencing for all of the utility work for the following streets in Ward 14: a. Woodfield Road, from Dundas Street East to Fairford Avenue; b. Riverdale Avenue, from Broadview Avenue to Carlaw Avenue; c. Grant Street, from Queen Street East to Kintyre Avenue; and d. Danforth Avenue, from Jones Avenue to Ladysmith Avenue. 16. City Council direct the General Manager, Transportation services to submit a follow-up report to AU9.7 - Audit of Transportation Services: Improving Utility Cut Permit and Inspection Processes, to the November 5, 2025 Audit Committee meeting that includes the photos available for work completed by utility contractors for utility work in Wards 1, 2, 5, 14 and 23. 17. City Council request the General Manager, Transportation Services to develop terminology for "permanent" repairs by done contractors which can be easily understood by the public.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council request the General Manager, Transportation Services Division, to improve tracking and timeliness of the utility cut permit application review and approval process by: a. ensuring that permit status and key application timelines (e.g., submission, first review, and resubmission dates) are accurately tracked to better monitor the permit process timeliness and identify delays and causes for delays; b. ensuring factors such as preliminary review work, new permit versus permit extensions, and Road Allowance Control System versus email submissions are tracked, to enable accurate processing time metrics and help staff identify delay causes; and c. expanding the use of online submissions to reduce reliance on manual email submission and improve efficiency of the permit process. 2. City Council request the General Manager, Transportation Services Division, to strengthen oversight of the utility cut permit process by taking the following actions: a. establish a Memorandum of Understanding with Toronto Water and other internal City stakeholders to clearly define roles and responsibilities for utility cut permits and ensure they are clearly understood and agreed upon; b. establish processes to centrally track permits issued and inspections conducted by other divisions, such as Toronto Water, and to ensure that inspection results are consistently stored in a centralized system; and c. review and deactivate unused accounts, restrict permit approval privileges to authorized staff, and implement appropriate tools or procedures to ensure oversight of user roles and access levels. 3. City Council request the General Manager, Transportation Services Division, to develop and implement a quality assurance process for all permit streams, including standardized checklists aligned with applicable policies and standards for reviewing permit applications to ensure that necessary conflict approvals are obtained, and appropriate documentation is maintained to support compliance and accountability. 4. City Council request the General Manager, Transportation Services Division, to strengthen coordination and communication between the Utility Management Unit and the Work Zone Construction Coordination Unit to improve oversight of utility cut activities by: a. establishing a standardized communication protocol between the two units to ensure timely updates on permits and inspections; b. ensuring all Road Disruption Activity Reporting System approvals are linked to valid and accurate Road Allowance Control System permit numbers, and that all completed permits have corresponding Road Disruption Activity Reporting System approvals; and c. implementing a process to enforce compliance with Road Disruption Activity Reporting System approval requirements through actions including, but not limited to, inspecting QR code construction signs and recovering administrative costs for non-compliance. 5. City Council request the General Manager, Transportation Services Division, to develop and implement a structured process to manage and track the inspections throughout the entire permit life cycle until its warranty period is completed, specifically: a. ensure timely permanent restoration and warranty inspections are performed for all permits; and b. ensure a warranty start date is clearly defined and supported by inspection for all permits that come to the warranty stage. 6. City Council request the General Manager, Transportation Services Division, to set up a structured training program that is periodically updated to reflect new processes, and to provide refresher training to inspectors so they have clear guidance on how to carry out and document inspections properly, ensuring all evidence is complete, accurate, and uploaded into Maximo. 7. City Council request the General Manager, Transportation Services Division, to develop and implement a formal process for conducting material testing and monitoring material testing deficiencies. 8. City Council request the General Manager, Transportation Services Division, to develop and implement a formal process to monitor permits where deficiencies are identified. The process should include but not be limited to the following items: a. maintain a centralized report to track permits with deficiencies, resolution timelines, and statuses; b. develop a protocol to inform utility companies about the deficiencies before warranty expires; and c. ensure re-inspection of resolved deficiencies is performed and documented. 9. City Council request the General Manager, Transportation Services Division, to establish formal service standards on service requests and enhance documentation practices to include actions taken with supporting evidence. 10. City Council request the General Manager, Transportation Services Division, to update and report on its key performance indicators and targets, and investigate and take timely corrective actions when performance issues are identified. 11. City Council request the General Manager, Transportation Services Division, to implement a process to charge pavement degradation fees and to recover past and ongoing costs of road damage caused by utility cuts. 12. City Council request the General Manager, Transportation Services Division, to determine and propose any adjustments needed to the fee structure to reflect the full cost of program delivery, including inspections, compliance enforcement, and administrative support. 13. City Council request the General Manager, Transportation Services Division, in consultation with Legal Services where appropriate, to make best efforts to recover all outstanding permanent restoration costs for work performed on the legacy utility cut permits. 14. City Council request the General Manager, Transportation Services Division, to implement an effective permit system that integrates with the inspection system for more efficient processing and tracking of permits and inspection data.
AU9.8adopted
This audit of low dollar value purchases was included in the Auditor General's 2024 Work Plan . Although low dollar value purchases (less than $3,000) do not make up a significant amount of the City's total dollar spend, they do make up 96.5 per cent of the City's annual purchasing volume (based on total number of purchase order, divisional purchase order and purchasing card transactions). Given this significant volume, increasing the efficiency of procurement and payment processes can have a significant impact to divisional operations. The objective of this audit was to assess whether the City's procurement processes provide sufficient flexibility to support quick and cost-effective low dollar value procurement while maintaining compliance. Our audit identified opportunities to improve operational efficiencies by considering expanded use of purchasing cards and reviewing thresholds for requiring multiple quotes, to allow divisions greater discretion when it comes to lower dollar value purchases. Enhanced training, guidance, and information sharing for divisional staff will help to improve procurement planning, efficiency, as well as compliance of procurement processes. Our audit also highlights that it is important for the City to ensure a centralized city-wide approach to strategically plan and coordinate procurement across all City divisions, and to provide strategic support to divisions to better understand city-wide procurement needs and improve category management for low and medium dollar value purchases. To maximize savings for the City, city-wide analysis and planning can consider potential opportunities identified in this audit, such as obtaining better pricing by further consolidating buying power, maximizing contract rebates, discounts, and other benefits, and leveraging corporate programs with member benefits. We recognize that although it is important to increase efficiency and cost savings where possible, purchasing must comply with procurement policies, and the City must balance increasing cost savings with its Social Procurement Program and other policy objectives.
The Audit Committee recommends that: 1. City Council request the Chief Financial Officer and Treasurer, in consultation with the Chief Procurement Officer, to review and consider expanding purchasing card use and, where appropriate, update policy, guidance and training, and such review should consider: a. Default purchasing card transaction limits and criteria for allowable use, including using purchasing cards in lieu of issuing divisional purchase orders and paying vendor invoices via Accounts Payable for low dollar value purchases; and b. Feasibility of using purchasing cards as a payment method for purchase orders and divisional purchase orders. 2. City Council request the Chief Procurement Officer, in consultation with City divisions, to review thresholds, criteria and procedures for divisional purchase orders, considering potential efficiencies and savings that arise if Division Heads are given more discretion on whether to obtain multiple quotes, and the need to also balance compliance, value-for-money and the City's Social Procurement Program and other policy objectives. 3. City Council request the Chief Procurement Officer, in consultation with City divisions, to publish information / open data on divisional purchase orders specifically identifying low dollar value goods and services that were purchased without soliciting multiple quotes, with such information to include vendor name, description of goods and / or services purchased, dollar value of purchase, and justification for direct purchasing. 4. City Council request the Chief Procurement Officer, in consultation with City divisions, to review, update, and provide enhanced guidance and training to staff for divisional purchasing and purchasing card use, where appropriate, and in doing so, the Chief Procurement Officer should consider addressing areas where divisions may require additional guidance, and that key training and annual refreshers should be made mandatory for staff involved in conducting and approving divisional purchasing via divisional purchase orders and purchasing cards. 5. City Council request the Chief Financial Officer, in collaboration with the Chief Procurement Officer, to ensure a centralized City-wide approach to strategically plan and coordinate procurement across all City divisions and provide strategic support to divisions to better understand city-wide procurement needs and improve category management for low and medium dollar value purchases, and in doing so, the Chief Procurement Officer should implement a process to periodically analyze City-wide purchasing activity, covering all divisions and considering not only purchase orders, divisional purchase orders, and contract release orders, but also purchasing cards, and identify opportunities to strategically improve the operational efficiency and cost-effectiveness of divisional purchasing across the City, and the benefits and challenges, as well as potential actions to address these opportunities should then be raised with divisions. 6. City Council request the City Manager to forward the report (June 25, 2025) from the Auditor General to the major agencies and corporations for review and request the heads of the agencies and corporations to: a. review the issues and recommendations included in this report and consider the relevance to their respective organizations for implementation; and b. report back to the City Manager on any opportunities that the agencies and corporations identify to further strengthen coordination with the City for strategic procurement of low and medium dollar value purchases.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council request the Chief Financial Officer and Treasurer, in consultation with the Chief Procurement Officer, to review and consider expanding purchasing card use, and where appropriate, update policy, guidance and training. The review should consider: a. Default purchasing card transaction limits and criteria for allowable use, including using purchasing cards in lieu of issuing divisional purchase orders and paying vendor invoices via Accounts Payable for low dollar value purchases. b. Feasibility of using purchasing cards as a payment method for purchase orders and divisional purchase orders. 2. City Council request the Chief Procurement Officer, in consultation with City divisions, to review thresholds, criteria, and procedures for divisional purchase orders, considering potential efficiencies and savings that arise if Division Heads are given more discretion on whether to obtain multiple quotes, and the need to also balance compliance, value-for-money and the City's Social Procurement Program and other policy objectives. 3. City Council request the Chief Procurement Officer, in consultation with City divisions, to publish information / open data on divisional purchase orders specifically identifying low dollar value goods and services that were purchased without soliciting multiple quotes. Such information to include vendor name, description of goods and / or services purchased, dollar value of purchase, and justification for direct purchasing. 4. City Council request the Chief Procurement Officer, in consultation with City divisions, to review, update, and provide enhanced guidance and training to staff for divisional purchasing and purchasing card use, where appropriate. In doing so, the Chief Procurement Officer should consider addressing areas where divisions may require additional guidance. Key training and annual refreshers should be made mandatory for staff involved in conducting and approving divisional purchasing via divisional purchase orders and purchasing cards. 5. City Council request the Chief Financial Officer, in collaboration with the Chief Procurement Officer, to ensure a centralized city-wide approach to strategically plan and coordinate procurement across all City divisions and provide strategic support to divisions to better understand city-wide procurement needs and improve category management for low and medium dollar value purchases. In doing so, the Chief Procurement Officer should implement a process to periodically analyze city-wide purchasing activity, covering all divisions and considering not only purchase orders, divisional purchase orders, and contract release orders, but also purchasing cards, and identify opportunities to strategically improve the operational efficiency and cost-effectiveness of divisional purchasing across the City. The benefits and challenges, as well as potential actions to address these opportunities should then be raised with divisions. 6. City Council request the City Manager to forward this audit report to the major agencies and corporations for review and request the heads of the agencies and corporations to: a. Review the issues and recommendations included in this report and consider the relevance to their respective organizations for implementation. b. Report back to the City Manager on any opportunities that the agencies and corporations identify to further strengthen coordination with the City for strategic procurement of low and medium dollar value purchases.
AU9.9adopted
In 2018, the City submitted a bid to host the FIFA World Cup 2026. Toronto, along with 15 other cities across the United States of America, Canada, and Mexico, will host the international football (referred to as soccer in North America) tournament. Hosting this Mega Event involves significant funding and involvement from multiple levels of government. The purpose of this project was to examine the City's governance and cost control measures leading up to and during the execution of the FIFA World Cup 2026 Agreement. It also identifies opportunities for improvement for City Council and management on future Mega and large international events, as well as other City Council decisions requiring significant funding with financial support from multiple levels of government. This report aims to reinforce best practices for City Council and staff to help strengthen governance and guidelines for future Mega Events, as well as to address areas for improvement in hosting the FIFA World Cup 2026 in Toronto.
The Audit Committee recommends that: 1. The Mayor consider strengthening governance oversight at the Council level earlier in the process (e.g., beginning of the bidding process) for future Mega or large scale events (with costs above a certain threshold and / or requiring funding from other levels of government), in consultation with the City Manager and City Council where appropriate, which may include a Steering Committee to lead and oversee the relevant division, and a Subcommittee to consider and make recommendations on all event-related matters to Executive Committee. 2. City Council request the City Manager to develop and propose policy and procedures, relating to Council delegated authority to staff, to ensure that Council is appropriately informed in cases where there is a significant change in the estimated value or a significant update of a project or agreement, that is not already covered under existing City policies. 3. City Council request the City Manager and General Manager, Economic Development and Culture, to develop long-term bidding and hosting principles and strategies for Mega Events, including a comprehensive risk and opportunities assessment and risk mitigation strategy, with required reporting to City Council for consideration and for any further direction that may be required. 4. City Council request the City Manager and Executive Director, FIFA World Cup 2026 Secretariat, to expedite finalizing the remaining one agreement with Maple Leaf Sports and Entertainment Ltd., once the necessary information is available to finalize the agreement. 5. City Council request the City Manager and Executive Director, FIFA World Cup 2026 Secretariat, in consultation with the General Manager, Economic Development and Culture, to develop a standard and guidance for staff on documenting agreed-upon changes to hosting requirements for FIFA World Cup 2026 and future Mega Events, where changes to the legal agreement is not possible. For informal communications, this should include documenting meeting minutes, retaining records of agreed-upon changes, and obtaining written confirmation by the other party(ies) where possible. 6. City Council request the City Manager and relevant Division Head to develop a process and policy to provide all relevant information on significant updates or changes (e.g., bidding process updates, significant changes to potential risks / opportunities or cost estimates) for future Mega Events to City Council on a timely basis, so that Council can make fully informed decisions. 7. City Council request the City Manager and relevant Division Head to develop a process and policy to have full cost estimates in staff reports related to future Mega or significant special events, including all potential costs for the City, as well as describing any uncertainties regarding whether it will be the responsibility of another party or level of government, or could fall under the responsibility of the City.
Staff recommendation as filed
The Auditor General recommends that: 1. The Mayor consider strengthening governance oversight at the Council level earlier in the process (e.g., beginning of the bidding process) for future Mega or large scale events (with costs above a certain threshold and / or requiring funding from other levels of government), in consultation with the City Manager and City Council where appropriate, which may include a Steering Committee to lead and oversee the relevant division, and a Subcommittee to consider and make recommendations on all event-related matters to Executive Committee. 2. City Council request the City Manager to develop and propose policy and procedures, relating to Council delegated authority to staff, to ensure that Council is appropriately informed in cases where there is a significant change in the estimated value or a significant update of a project or agreement, that is not already covered under existing City policies. 3. City Council request the City Manager and General Manager, Economic Development and Culture, to develop long-term bidding and hosting principles and strategies for Mega Events, including a comprehensive risk and opportunities assessment and risk mitigation strategy, with required reporting to City Council for consideration and for any further direction that may be required. 4. City Council request the City Manager and Executive Director, FIFA World Cup 2026 Secretariat, to expedite finalizing the remaining one agreement with Maple Leaf Sports and Entertainment Ltd., once the necessary information is available to finalize the agreement. 5. City Council request the City Manager and Executive Director, FIFA World Cup 2026 Secretariat, in consultation with the General Manager, Economic Development and Culture, to develop a standard and guidance for staff on documenting agreed-upon changes to hosting requirements for FIFA World Cup 2026 and future Mega Events, where changes to the legal agreement is not possible. For informal communications, this should include documenting meeting minutes, retaining records of agreed-upon changes, and obtaining written confirmation by the other party(ies) where possible. 6. City Council request the City Manager and relevant Division Head to develop a process and policy to provide all relevant information on significant updates or changes (e.g., bidding process updates, significant changes to potential risks / opportunities or cost estimates) for future Mega Events to City Council on a timely basis, so that Council can make fully informed decisions. 7. City Council request the City Manager and relevant Division Head to develop a process and policy to have full cost estimates in staff reports related to future Mega or significant special events, including all potential costs for the City, as well as describing any uncertainties regarding whether it will be the responsibility of another party or level of government, or could fall under the responsibility of the City.
AU9.10amended
Fraud Investigation Involving Multiple City of Toronto Electricity Accounts
This report presents the results of the Auditor General's investigation of a complaint received through the Fraud and Waste Hotline, which alleged that electricity accounts for 14 City properties were switched from Toronto Hydro to two different third-party energy retailers without the City's knowledge. In October 2019, the Corporate Real Estate Management Division's Energy Management Team identified unusual invoices as part of their routine account review of electricity invoices. Upon following up with Toronto Hydro and the two energy retailers, Corporate Real Estate Management discovered that the electricity accounts were switched in July 2019 to two contracts with an estimated total value of $4.2 million, of which $2.5 million represented what would have been lost by the City had the unusual invoices not been identified. This estimated potential loss was based on the difference between what the City would have paid Toronto Hydro versus what would have been paid to the energy retailers over the contract term. Corporate Real Estate Management also noted that the City employee who purportedly signed the contracts had retired before they were signed and did not have authority to sign contracts of this value. The City directed the energy retailers to revert the affected electricity accounts back to Toronto Hydro and the payments made to the energy retailers under the void contracts were recovered by the City. The Auditor General's Office commenced an investigation to try to identify who entered the City into these contracts and whether any City employee was involved in the fraud. The review was paused due to the COVID-19 pandemic and competing priorities, restarted in 2024, and finalized in 2025. For background, while all electricity in Toronto is physically distributed by Toronto Hydro, Ontario has an electricity market where consumers can purchase their electricity from either Toronto Hydro (at a regulated price, without markup by Toronto Hydro) or from a licensed energy retailer. By default, in accordance with Provincial legislation, consumers purchase from Toronto Hydro. In some cases, energy retailers pay commissions to consulting firms that bring in new contracts to them. The consulting firms act as intermediaries between the energy retailers and consumers. It appears that the commissions received by the consultants was the motivation to enter the City into these contracts. Our investigation concluded the following: 1. The alleged City employee did not sign the contracts and therefore the contracts were fraudulent. 2. Consulting firm owners appeared to have some involvement in establishing the contracts with energy retailers, but this could not be substantiated due to lack of evidence at this time, despite extensive efforts. 3. Retired City employees' identifications were fraudulently used to set up the contracts with the energy retailers. We were unable to identify if a City employee was involved in this case. This matter has been referred to the Toronto Police Service due to prior allegations against one of the consulting firm owners, including signature forgery. Toronto Police Service will assess whether the circumstances meet the criminal threshold to warrant a criminal investigation. It is important for the City, and its Agencies and Corporations, to be vigilant since the switch of electricity accounts to third-party energy retailers can occur without their knowledge and can result in a negative financial impact. It is important that City staff are diligent in reviewing and approving electricity invoices, to prevent or detect this potential fraudulent scheme early. Employee identities and credentials can also be used for fraudulent purposes, so it is critical to review contracts and invoices diligently prior to approval and payment. The energy retailers suffered a loss as they were unable to recover the commissions paid to the consulting firm owners. However, the City did not incur a loss on these void contracts and has proper controls and processes in place to identify the switch of the electricity accounts with energy retailers. We would like to acknowledge the diligence of Corporate Real Estate Management staff and management for identifying and following up on these fraudulent contracts, and recovering the payments made to the energy retailers under the void contracts for the City.
The Audit Committee recommends that: 1. City Council request the City Manager, to forward the investigation report (June 21, 2025) from the Auditor General to other City Divisions, and Agencies and Corporations for their information, to encourage diligence in reviewing and approving invoices, with emphasis to those Agencies and Corporations that are responsible for reviewing their own electricity invoices. 2. City Council forward the report (June 21, 2025) from the Auditor General to the Toronto Police Service Board and request the Chief of Police to consider initiating an investigation.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council request the City Manager, to forward this investigation report to other City Divisions, and Agencies and Corporations for their information, to encourage diligence in reviewing and approving invoices, with emphasis to those Agencies and Corporations that are responsible for reviewing their own electricity invoices.
AU9.11adopted
Audit of the Toronto Transit Commission’s Non-Union Workforce Planning and Management
At its meeting on April 16, 2025, the Toronto Transit Commission Board considered the report titled "Audit of the Toronto Transit Commission's Non-Union Workforce Planning and Management" and has forwarded the report to City Council through the Audit Committee.
The Audit Committee recommend that: 1. City Council receive the report (March 10, 2025) from the Auditor General for information.
Staff recommendation as filed
The Toronto Transit Commission Board recommends that: 1. City Council receive the report (March 10, 2025) from the Auditor General for information.
AU9.12adopted
Audit of Parks Branch Operations - Phase 1 and 2: July 2025 Status Update
On October 7, 2024, the Auditor General released a report entitled "Audit of Parks Branch Operations - Phase 1: Improving Oversight of Day-to-Day Maintenance Helps to Ensure City Parks are Beautiful, Clean and Safe", which was considered by the Audit Committee on October 15, 2024, and City Council at its meeting on November 13 and 14, 2024. Thereafter on February 5, 2025, the Auditor General released a report entitled "Audit of Parks Branch Operations - Phase 2: Supporting Vibrant Parks by Improving Park Asset Management and Repair Processes", which was considered by the Audit Committee on February 12, 2025, and City Council at its meeting on March 26 and 27, 2025. City Council subsequently adopted various recommendations aimed at improving how the Parks branch performs maintenance operations and repairs to keep parks clean, safe and beautiful. One such recommendation directed Parks and Recreation to report to the Audit Committee in December 2024, as well as July and November 2025 with a status update. This report outlines steps taken to implement both phases of the audit. Implementation of the Auditor General's recommendations is proceeding as provided by management in their response to both phases of the audit. While longer term technological improvements are in development, interim processes to improve accountability and oversight have been implemented.
The Audit Committee recommend that: 1. City Council receive the report (June 26, 2025) from Acting General Manager, Parks and Recreation for information.
Staff recommendation as filed
The Acting General Manager, Parks and Recreation, recommends that: 1. City Council receive this report for information.
AU9.13adopted
This report updates the Audit Committee on the status of the 14 recommendations identified in the Auditor General's Audit of the Enterprise Work Management Solution: Lessons Learned for Future Large Information Technology Projects on November 23, 2023. As of June 2025, City staff have addressed 11 of the 14 audit recommendations, up from 5 in the June 2024 report. This progress reflects a significant improvement in addressing the audit findings. Management expects to complete actions for the remaining three recommendations by the fourth quarter of 2025.
The Audit Committee: 1. Received the report (June 26, 2025) from the Chief Technology Officer for information.
Staff recommendation as filed
The Chief Technology Officer recommends that: 1. Audit Committee receive this report for information.
AU9.14adopted
Community Centres - 2024 Audited Financial Statements
The purpose of this report is to provide the Audit Committee and City Council with the 2024 audited financial statements of Community Centres. The 2024 audited financial statements for the ten Community Centres are presented to Audit Committee after approval by their respective Boards of Management. At this time, the audits of nine Community Centres have been completed, and one was still in progress. Depending on when the remaining audit is completed, the Independent Auditor's Report, accompanying financial statements and management control letter (where applicable) of that Community Centre will be presented at a subsequent meeting of the Audit Committee.
The Audit Committee recommends that: 1. City Council receive the 2024 audited financial statements and management letters, where applicable, for the Community Centres in Attachments 1 to 9 to the report (June 26, 2025) from the Auditor General for information: Attachment 1 - Financial Statements and Report to the Board of Management - 519 Church Street Community Centre; Attachment 2 - Financial Statements and Report to the Board of Management - Applegrove Community Complex; Attachment 3 - Financial Statements and Report to the Board of Management - Cecil Community Centre; Attachment 4 - Financial Statements and Report to the Board of Management - Central Eglinton Community Centre; Attachment 5 - Financial Statements and Report to the Board of Management - Eastview Neighbourhood Community Centre Attachment 6 - Financial Statements and Report to the Board of Management - Ralph Thornton Community Centre; Attachment 7 - Financial Statements and Report to the Board of Management - Scadding Court Community Centre Attachment 8 - Financial Statements and Report to the Board of Management - Swansea Town Hall Community Centre; and Attachment 9 - Financial Statements and Report to the Board of Management - Waterfront Neighbourhood Centre.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council receive the 2024 audited financial statements and management letters, where applicable, for the Community Centres in attachments 1 to 9 to this report for information.
AU9.15amended
The purpose of this report is to provide the Audit Committee and City Council with a status update on the 2024 and 2023 audited financial statements of Arenas. The audited financial statements for the eight City Arenas are presented to the Audit Committee after approval by their respective Boards or Committees of Management. At the time of preparation of this report, there were two 2024 audited financial statements available for Arenas. This is because the 2024 audits for one entity was awaiting board approval, another was pending an accounting adjustment, three entities were in progress, and one entity 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 remaining three 2023 audited financial statements of the eight Arenas, which are for Leaside Memorial Community Gardens Arena, Moss Park Arena, and Ted Reeve Community Arena.
The Audit Committee recommends that: 1. City Council receive the 2024 audited financial statements and management letters, where applicable, for the Arenas in Attachments 1 to 2 to the report (June 26, 2025) from the Auditor General for information: Attachment 1 - Financial Statements and Report to the Board of Management - McCormick Playground Arena; and Attachment 2 - Financial Statements and Report to the Board of Management - North Toronto Memorial Arena. 2. City Council receive the 2023 audited financial statements and management letters, where applicable, for the Arenas in Attachments 3 to 5 to the report (June 26, 2025) from the Auditor General for information: Attachment 3 - Financial Statements and Report to the Board of Management - Leaside Memorial Community Gardens Arena; Attachment 4 - Financial Statements and Report to the Board of Management - Moss Park Arena; and Attachment 5 - Financial Statements and Report to the Board of Management - Ted Reeve Community Arena. 3. City Council direct the City Manager to notify and remind Arena Boards of Management governed under the Relationship Framework, of their requirements related to their annual audited financial statements in accordance with Section 10.3.1 of the Relationship Framework to submit responses to the 2024 management letters by October 8, 2025 for Audit Committee's consideration at its meeting on November 5, 2025, and annually thereafter with the submission of their financial audit materials, as applicable.
Staff recommendation as filed
The Auditor General recommends that: 1. City Council receive the 2024 audited financial statements and management letters, where applicable, for the Arenas in attachments 1 to 2 to this report for information. 2. City Council receive the 2023 audited financial statements and management letters, where applicable, for the Arenas in attachments 3 to 5 to this report for information.
AU9.16adopted
Business Improvement Areas - Update on the 2023 and 2024 Audited Financial Statements
The purpose of this report is to present the Audit Committee and City Council with the audited financial statements and management letters of Business Improvement Areas as outlined below: 2023 2024 Bloor Annex Bloor Yorkville Bloorcourt Village CityPlace and Fort York Bloordale Village Danforth Mosaic Crossroads of the Danforth Fairbank Village Harbord Street GreekTown on the Danforth Liberty Village Parkdale Village MarketTO District Riverside Oakwood Village Rogers Road Ossington Avenue Sheppard East Village Regal Heights Village The Waterfront Village of Islington Toronto Financial District Wilson Village Old Town Toronto Toronto Downtown West All of the audited financial statements received unqualified audit opinions and have been approved by the Business Improvement Areas' respective Boards of Management (Board). Six Business Improvement Areas (Bloor Annex, Bloorcourt Village, Bloordale Village, Crossroads of the Danforth, Liberty Village and Village of Islington) received recommendations to strengthen internal controls and operations for fiscal 2023. Most are minor in nature and have been accepted by the Business Improvement Area's management and Board. With this report, the 2023 audited financial statements for all 83 Business Improvement Areas[1] have been presented to the Audit Committee. The remaining 70 audited financial statements for the 2024 fiscal year are in the process of being finalized and will be presented to the Audit Committee and City Council at a future date. [1] Note: There are now 84 active Business Improvement Areas in 2025. The Historic Queen Street East Business Improvement Area was inactive in 2024, resulting in a total of 83 active Business Improvement Areas in 2024.
The Audit Committee recommend that: 1. City Council approve the 2023 and 2024 audited financial statements and management letters of the Business Improvement Areas as attached in Appendices A to AB to the report (June 26, 2025) from the Chief Financial Officer and Treasurer.
Staff recommendation as filed
The Chief Financial Officer and Treasurer recommends that: 1. City Council approve the 2023 and 2024 audited financial statements and management letters of the Business Improvement Areas as attached in Appendices A to AB to this report.
AU9.17adopted
The purpose of this report is to advise on the results of Request for Proposal Doc4989142973 for the Non-exclusive External Audit Services and Other Professional Services for the City and Certain Agencies and Corporations and to request authority to enter into an agreement with the recommended supplier, KPMG LLP, to be appointed as external auditor licensed under the Public Accounting Act, 2004 to perform the annual financial statement audits and other professional services. The contract is for a five (5) year period from November 1, 2025 to October 31, 2030 in the amount of $5,120,000 net of all applicable taxes and charges ($5,210,112 net of Harmonized Sales Tax recoveries).
The Audit Committee recommends that: 1. City Council, in accordance with Section 139 of the City of Toronto Act, appoint KPMG LLP as an external auditor, licensed under the Public Accounting Act, 2004, to perform the annual financial statement audits of the City and certain Agencies and Corporations and express an opinion on the financial statements of these entities, based on the audit. 2. City Council authorize the Controller and Chief Accountant to award and enter into an agreement in the amount of $5,120,000 net of all applicable taxes and charges ($5,210,112 net of Harmonized Sales Tax recoveries) with KPMG LLP, the highest scoring supplier meeting the requirements of the Request for Proposal. 3. City Council, acting as shareholder, appoint KPMG LLP as the Auditor for fiscal year 2025 for each corporation listed below, and authorize the Board of Directors of each corporation to fix the Auditor's remuneration: a. Build Toronto Inc.; b. Toronto Economic Development Inc. (carrying on business as Toronto Port Lands Company); c. Toronto Community Housing Corporation; and d. Toronto Seniors Housing Corporation. 4. City Council direct that Confidential Attachment 1 to the report (June 26, 2025) from the Controller and Chief Accountant, and the Chief Procurement Officer remain confidential, as it pertains to financial information, supplied in confidence to the City of Toronto, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization. 5. City Council authorize the public release of Confidential Attachment 1 to the report (June 26, 2025) from the Controller and Chief Accountant, and the Chief Procurement Officer upon the execution of the agreement contemplated in Recommendation 2.
Staff recommendation as filed
The Controller and Chief Accountant, and the Chief Procurement Officer recommend that: 1. City Council, in accordance with Section 139 of the City of Toronto Act, appoint KPMG LLP as an external auditor, licensed under the Public Accounting Act, 2004, to perform the annual financial statement audits of the City and certain Agencies and Corporations and express an opinion on the financial statements of these entities, based on the audit. 2. City Council authorize the Controller and Chief Accountant to award and enter into an agreement in the amount of $5,120,000 net of all applicable taxes and charges ($5,210,112 net of Harmonized Sales Tax recoveries) with KPMG LLP, the highest scoring supplier meeting the requirements of the Request for Proposal. 3. City Council, acting as shareholder, appoint KPMG LLP as the Auditor for fiscal year 2025 for each corporation listed below, and authorize the Board of Directors of each corporation to fix the Auditor's remuneration: a. Build Toronto Inc.; b. Toronto Economic Development Inc. (carrying on business as Toronto Port Lands Company); c. Toronto Community Housing Corporation; and d. Toronto Seniors Housing Corporation. 4. City Council direct that Confidential Attachment 1 remain confidential, as it pertains to financial information, supplied in confidence to the City of Toronto, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization. 5. City Council authorize the public release of Confidential Attachment 1 upon the execution of the agreement contemplated in Recommendation 2.
AU9.18amended
At its meeting of July 14, 25, and 16, 2021, in item 2021.CC35.5 , City Council appointed Robert Gore and Associates as the external auditor to conduct an annual compliance audit for the offices of each of the City's Accountability Officers for a five-year period for calendar years ending December 31st for 2020, 2021, 2022, 2023 and 2024. Robert Gore & Associates, Chartered Professional Accountants, reporting on the Auditor General's Office of the City of Toronto - Report on the Results of Applying Specified Auditing Procedures to Financial Information Other Than Financial Statements for the Year Ended December 31, 2024.
The Audit Committee recommend that: 1. City Council receive the report (July 8, 2025) from Robert Gore and Associates on the 2024 Compliance Audit for the Auditor General's Office of the City of Toronto for information.