TO Live - Audit Committee
The full agenda, as filed
All 4 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.
RZ1.1received
The Chair has scheduled the following meetings of the Finance, Audit and Risk Management Committee for 2019. Further meetings will be scheduled, as required. 1. Thursday, February 28 at 3:00 p.m. in Sony Lounge, Sony Centre for the Performing Arts 2. Thursday, May 2 at 3:00 p.m. in Sony Lounge, Sony Centre for the Performing Arts 3. Friday, June 7 at 12:30 p.m. in Sony Lounge, Sony Centre for the Performing Arts 4. Tuesday, September 24 at 12:30 p.m. in Committee Room 4, 2nd Floor, City Hall 5. Friday, November 15 at 12:30p.m. in Sony Lounge, Sony Centre for the Performing Arts
The Finance, Audit and Risk Management Committee for 2019 received for information, the following meeting schedule from the Chair: 1. Thursday, February 28 at 3:00 p.m. in Sony Lounge, Sony Centre for the Performing Arts 2. Thursday, May 2 at 3:00 p.m. in Sony Lounge, Sony Centre for the Performing Arts 3. Friday, June 7 at 12:30 p.m. in Sony Lounge, Sony Centre for the Performing Arts 4. Tuesday, September 24 at 12:30 p.m. in Committee Room 4, 2nd Floor, City Hall 5. Friday, November 15 at 12:30p.m. in Sony Lounge, Sony Centre for the Performing Arts
RZ1.2amended
2018 Fourth Quarter Financial Results and Commentary
The purpose of this report is to present the 2018 Fourth Quarter financial results to the Board.
The Finance, Audit and Risk Management Committee recommends that the Board of Directors of TO Live: 1. Request the President and Chief Executive Officer, TO Live to present a quarterly cash flow report to the Finance, Audit and Risk Management Committee. 2. Direct that Confidential Attachments 1, 2 and 3 to the report (February 20, 2019) from the Vice President of Finance and Administration, TO Live remain confidential in their entirety because 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.
Staff recommendation as filed
The Vice President of Finance and Administration recommends that the Board of Directors of TO Live: 1. Receive the 2018 fourth quarter financial operating results noted in Confidential Attachment 1, 2 and 3 for information. 2. Direct that Confidential Attachment 1, 2 and 3 remain confidential in its entirety because 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.
RZ1.3adopted
2019 Capital Projects and Major Purchases
The purpose of this report is to seek Board approval for 2019 capital projects and major purchases.
The Finance, Audit and Risk Management Committee recommends that the Board of Directors of TO Live: 1. Approve the State of Good Repair capital projects listed as New 2019 State of Good Repair Funded Projects and all related purchase orders and/or tender awards up to each individual project budget, as outlined in Confidential Attachment 1 to the report (February 20, 2019) from the Vice President of Finance and Administration, TO Live pending approval of the 2019 TO Live capital budget at the March 7, 2019 City Council meeting. 2. Approve the Facility Fee Reserve Fund projects and purchases listed as Facility Fee Reserve Fund Funded Projects and all related purchase orders and/or tender awards up to each individual budget or adjusted budget (if necessary), not to exceed the available Facility Fee Reserve Fund funding, as outlined in Confidential Attachments 1 and 2 to the report (February 20, 2019) from the Vice President of Finance and Administration, TO Live pending approval of the 2019 TO Live Operating budget at the March 7, 2019 City Council meeting. 3. Direct that Confidential Attachments 1 and 2 to the report (February 20, 2019) from the Vice President of Finance and Administration, TO Live remain confidential in its entirety because 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.
Staff recommendation as filed
The Vice President of Finance and Administration recommends that the Board of Directors of TO Live: 1. Approve the State of Good Repair capital projects listed as New 2019 State of Good Repair Funded Projects and all related purchase orders and/or tender awards up to each individual project budget, as outlined in Confidential Attachment 1 pending approval of the 2019 TO Live capital budget at the March 7, 2019 City of Toronto Council meeting. 2. Approve the Facility Fee Reserve Fund projects and purchases listed as Facility Fee Reserve Fund Funded Projects and all related purchase orders and/or tender awards up to each individual budget or adjusted budget (if necessary), not to exceed the available Facility Fee Reserve Fund funding, as outlined in Confidential Attachment 1 and 2 pending approval of the 2019 TO Live Operating budget at the March 7, 2019 City of Toronto Council meeting. 3. Direct that Confidential Attachment 1 and 2 remain confidential in its entirety because 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.
RZ1.4adopted
Replacement of Signage at the Sony Centre and Toronto Centre for the Arts
This report seeks the Board's approval of the overall replacement signage budget for the Sony Centre for the Performing Arts and the Toronto Centre for the Arts and to enter into a sole-source contract with a design company for this project.
The Finance, Audit and Risk Management Committee recommends that the Board of Directors of TO Live: 1. Approve the overall signage budget of $1.9 million (funded from the Facility Fee Reserve Fund through the Meridian sponsorship donation) for the replacement signage of the Sony Centre and the Toronto Centre for the Arts (as described in Confidential Attachment 1 to the report (February 14, 2019) from the President and Chief Executive Officer, TO Live), and forward this report to City Council for approval, in order to be included in TO Live's 2019 Capital Budget. 2. Approve the engagement of Kramer Design Associates as a sole-source contract. 3. Direct that the confidential information contained in Confidential Attachments 1 and 2 to the report (February 14, 2019) from the President and Chief Executive Officer, TO Live remain confidential in its entirety, as it contains commercial information, supplied in confidence to the Board of Directors of TO Live, 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.
Staff recommendation as filed
The President and Chief Executive Officer recommends that the Board of Directors of TO Live: 1. Approve the overall signage budget of $1.9 million (funded from the Facility Fee Reserve Fund through the Meridian sponsorship donation) for the replacement signage of the Sony Centre and the Toronto Centre for the Arts (see Confidential Attachment 1), and forward this report to City Council for approval, in order to be included in TO Live's 2019 Capital Budget. 2. Approve the engagement of Kramer Design Associates as a sole-source contract. 3. Direct that the confidential information contained in Confidential Attachment 1 and 2 remain confidential in its entirety, as it contains commercial information, supplied in confidence to the Board of Directors of TO Live, 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.