Toronto Parking Authority - Audit and Risk Management Committee
The full agenda, as filed
All 6 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.
PR1.1adopted
Toronto Parking Authority 2023 Board Audit and Risk Management Committee Work Plan
The purpose of this report is to establish the 2023 Work Plan for Audit and Risk Management Committee of the Board of Directors of Toronto Parking Authority.
The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority receive the report (March 6, 2023) from the President, Toronto Parking Authority, for information.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors, Toronto Parking Authority, receive this report for information.
PR1.2received
2022 Capital Review and 2023 Plan
Jarrett McDonald, Vice President of Operations, Toronto Parking Authority, will give a presentation to the Board.
The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority receive the item for information.
PR1.3adopted
Toronto Parking Authority Enterprise Risk Management Report
Enterprise Risk Management is a continuous process to identify and assess risks and opportunities at an enterprise level. The Toronto Parking Authority currently does not have a formal Enterprise Risk Management strategy. The purpose of this report is to provide the proposed scope for consultant services to facilitate an Enterprise Risk Management assessment and support the setup of the Enterprise Risk Management Program. Management will issue a Request for Proposals in the second quarter of 2023 and will provide an update on the status of the implementation of the program at the November 2023 Toronto Parking Authority Audit and Risk Management Committee.
The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority receive the report (March 6, 2023) from the President, Toronto Parking Authority for information and approve the Enterprise Risk Management Program Scope as outlined in Attachment 1 to the report (March 6, 2023) from the President, Toronto Parking Authority.
Staff recommendation as filed
The President, Toronto Parking Authority recommends that: 1. The Board of Directors, Toronto Parking Authority, receive this report for information and approve the Enterprise Risk Management Program Scope as outlined in Attachment 1 to the (March 6, 2023) report from the President, Toronto Parking Authority.
PR1.4adopted
Delegation of Authority Update
At its meeting of November 8, 2021, the Board of Directors, Toronto Parking Authority, reviewed, approved and endorsed an update to Toronto Parking Authority Policy Resolution 5-10: Delegation of Authority, as amended by resolution. Among other things, these amendments increased the Toronto Parking Authority President's authority to make commitments on behalf of the Toronto Parking Authority from an amount not exceeding $250,000 to an amount not exceeding $500,000. At the same meeting, the Board of Directors also established an Audit and Risk Management Committee and adopted the mandate and Terms of Reference presented in Item PA27.13. Under the Roles and Responsibilities adopted by the Board, the Audit and Risk Management Committee shall review a list prepared by Management that summarizes the items where the Toronto Parking Authority President has used the increased delegation of authority. The purpose of this report is to provide a summary outlining the Toronto Parking Authority President's use of the increased delegation of authority between October 7, 2022 and March 8, 2023.
The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority receive the report (March 14, 2023) from the President, Toronto Parking Authority for information.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors, Toronto Parking Authority, receive this report for information.
PR1.5adopted
Summary of Legal Disputes - 2023 First Quarter Update
As part of Toronto Parking Authority's operation of commercial parking, the management of tenanted properties and Bike Share Toronto, Toronto Parking Authority is dealing with a range of legal matters related to supplier disputes, personal injuries, commercial tenancy disputes and the protection of Toronto Parking Authority's registered trademarks. Toronto Parking Authority has suitable insurance in relation to such concerns, such as general liability insurance for all of its facilities; and has assigned/retained legal counsel and insurance adjusters to manage any claims. Details about the specific legal disputes are included in Confidential Attachment 1. This report is a reoccurring update provided to the Board about the status of ongoing legal disputes. The Board will be provided updates on a regular basis as substantive changes occur to the status of the specific legal disputes.
The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority receive the report (March 10, 2023) from the President, Toronto Parking Authority for informative purposes only. 2. The Board of Directors of Toronto Parking Authority direct that the confidential information contained in Confidential Attachment 1 to the report (March 10, 2023) from the President, Toronto Parking Authority remain confidential in its entirety, as it contains advice about litigation or potential litigation that affects Toronto Parking Authority and contains advice or communications that are subject to solicitor-client privilege.
Staff recommendation as filed
The President, Toronto Parking Authority recommends that: 1. Toronto Parking Authority Board of Directors receive this report for informative purposes only. 2. Toronto Parking Authority Board of Directors direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it contains advice about litigation or potential litigation that affects Toronto Parking Authority and contains advice or communications that are subject to solicitor-client privilege.
PR1.6adopted
2023 Short-Term Incentive Plan
The purpose of this report is to provide a recommendation for the performance targets to be utilized in the Toronto Parking Authority's 2023 Short-Term Incentive Program. Toronto Parking Authority is on its accelerated journey towards its vision of becoming the world's best provider of sustainable parking, bike share and last mile mobility experiences. To support this effort, Toronto Parking Authority has been addressing our significant capability gaps with a particular emphasis on acquiring new talent in an extremely competitive labour market. In support of this effort, the Board approved revisions to the compensation plan for the President, Vice-Presidents and Directors and requested that the President report to the Board with recommendations on the design details of the 2023 Short-Term Incentive Program. As requested by the Board, this report provides the specifics of the performance targets to be incorporated into the Short-Term Incentive Program and potential impact on eligible participants. This will require a closed session discussion, as it deals with personal matters about identifiable persons.
The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority direct the President, Toronto Parking Authority, to implement the 2023 Corporate Goals and Key Performance Indicator targets for the Short-Term Incentive Plan as identified in Confidential Attachment 1 to the report (March 6, 2023) from the President, Toronto Parking Authority. 2. The Board of Directors of Toronto Parking Authority direct that the confidential information contained in Confidential Attachment 1 to the report (March 6, 2023) from the President, Toronto Parking Authority remain confidential in its entirety, as it deals with personal matters about identifiable persons.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors, Toronto Parking Authority, direct the President, Toronto Parking Authority, to implement the 2023 Corporate Goals and Key Performance Indicator targets for the Short-Term Incentive Plan as identified in Confidential Attachment 1. 2. The Board of Directors, Toronto Parking Authority, direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it deals with personal matters about identifiable persons.