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.
RZ5.1adopted
2019 Unaudited Year End Forecast
The purpose of this report is to present the 2019 fourth quarter financial results to the Board.
The TO Live Audit Committee recommends that the Board of Directors of TO Live: 1. Approve the 2019 fourth quarter financial operating results in Confidential Attachments 1, 2 and 3 to the report (January 28, 2020) from the President and Chief Executive Officer, TO Live. 2. Direct the President and Chief Executive Officer, TO Live to work with the City of Toronto's Chief Financial Officer and Treasurer on exploring options including the use of the Sony Centre Stabilization Reserve (XQ2031) and the Toronto Centre for the Arts Stabilization Reserve (XQ1060) to address the 2019 operating deficit. 3. Direct the President and Chief Executive Officer, TO Live to request funds from the TO Live Foundation Board to address the 2019 operating deficit. 4. Direct that Confidential Attachments 1, 2 and 3 to the report (January 28, 2020) from the President and Chief Executive Officer, TO Live remain confidential in their entirety because if disclosed, they 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, TO Live recommends that the Board of Directors of TO Live: 1. Approve the 2019 fourth quarter financial operating results in Confidential Attachment 1, 2 and 3. 2. Direct the President and Chief Executive Officer, TO Live to work with the City's Chief Financial Officer and Treasurer on exploring options including the use of the Sony Centre Stabilization Reserve (XQ2031) and the Toronto Centre for the Arts Stabilization Reserve (XQ1060) to address the 2019 operating deficit. 3. Direct the President and Chief Executive Officer, TO Live to request funds from the TO Live Foundation Board to address the 2019 operating deficit. 4. Direct that Confidential Attachment 1, 2 and 3 remain confidential in their entirety because if disclosed, they 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.
RZ5.2adopted
The purpose of this report is to update the Board on TO Live's Cyber Security for the first quarter.
The TO Live Audit Committee recommends that the Board of Directors of TO Live: 1. Receive the report (January 31, 2020) from the President and Chief Executive Officer, TO Live for information.
Staff recommendation as filed
The President and Chief Executive Officer, TO Live recommends that the Board of Directors of TO Live: 1. Receive this report for information.
RZ5.3withdrawn
2018 Audited Financial Statements
This is to advise that the staff report on the 2018 Audited Financial Statements for The Board of Directors of the Hummingbird Centre for the Performing Arts (operating as Civic Theatres Toronto) will be submitted after the agenda has closed for the Committee meeting on February 11, 2020 but will be available for the meeting.
The TO Live Audit Committee withdrew Item RZ5.3 from the agenda.
Staff recommendation as filed
The President and Chief Executive Officer, TO Live recommends that: 1. The Board of Directors of TO Live consider the report to be submitted by the President and Chief Executive Officer, TO Live on this matter.
RZ5.4adopted
2020 State of Good Repair and Facility Fee Reserve Fund
The purpose of this report is to seek Board spending approval for 2020 State of Good Repair and Facility Fee Reserve Fund projects.
The TO Live Audit Committee recommends that the Board of Directors of TO Live: 1. Approve the 2020 State of Good Repair capital projects listed in Confidential Attachment 1 to the report (January 31, 2020) from the President and Chief Executive Officer, TO Live and all related purchase orders and/or tender awards over $100,000 up to each individual project budget or adjusted budget (if necessary), not to exceed the available 2020 State of Good Repair funding, pending approval of the 2020 TO Live Capital Budget at the February 19, 2020 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 over $100,000 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 2 to the report (January 31, 2020) from the President and Chief Executive Officer, TO Live, pending approval of the 2020 TO Live Operating Budget at the February 19, 2020 City of Toronto Council meeting. 3. Direct that Confidential Attachments 1 and 2 to the report (January 31, 2020) from the President and Chief Executive Officer, 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 President and Chief Executive Officer, TO Live recommends that the Board of Directors of TO Live: 1. Approve the 2020 State of Good Repair capital projects listed in Confidential Attachment 1 and all related purchase orders and/or tender awards over $100,000 up to each individual project budget or adjusted budget (if necessary), not to exceed the available 2020 State of Good Repair funding, pending approval of the 2020 TO Live capital budget at the February 19, 2020 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 over $100,000 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 2 pending approval of the 2020 TO Live Operating budget at the February 19, 2020 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.