Board of Directors of the Toronto Atmospheric Fund
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.
TA17.1received
Draft Audited Consolidated Financial Statements for the Year Ended December 31, 2021
This is to advise that a report on Draft 2021 Audited Consolidated Financial Statements will be on the agenda of the Board of Directors of the Toronto Atmospheric Fund May 25, 2022 meeting. Additional time is required for the Audit Committee to meet and for the Auditor to complete the report, but it will be circulated in advance of the meeting
The Board of Directors of the Toronto Atmospheric Fund received the item for information.
TA17.2deferred
Toronto Atmospheric Fund By-law No. 1, Section 5.1. states that the Officers of the Corporation shall be appointed annually by and shall hold their appointments at the pleasure of the Board or until successors are duly appointed. This report recommends appointment of Officers of the Corporation.
The Board of Directors of the Toronto Atmospheric Fund deferred consideration of the item until the July 13, 2022 Board meeting.
Staff recommendation as filed
The Chief Executive Officer Recommends that the Board of Directors of the Toronto Atmospheric Fund reappoint the following Officers of the Corporation to hold office at the pleasure of the Board, and until their successors are appointed: - Vice-Chair - Councillor Mike Layton - Corporate Secretary - Graysanne Bedell - Treasurer - Kimberly Marshall
TA17.3amended
The Toronto Atmospheric Fund (TAF) and the City have been updating TAF's governance documents - the Relationship Framework with the City of Toronto (RF), TAF By-law No. 1 (By-laws) and the Toronto Atmospheric Fund Statement of Investment Objectives and Principles (SIOP) - with the goals of reflecting TAF's growing capacities, endowment and mandate since the documents were last amended; clarifying mechanisms for communication and collaboration with the City; and ensuring that appropriate accountability measures remain in place. To clarify and streamline the governance documents: - By-law No. 1 will contain only operational and administrative matters which, with Council approval, will be within the purview of TAF's Board to approve; - the RF will contain Council's requirements and the Procedural By-law which would be approved by Council; and - the SIOP will contain only investment-related requirements which would be approved by both the Board and Council. TAF staff will provide an update on the proposed content of the RF, including progress since the April 25 Board meeting. In addition, desirable amendments to the Toronto Atmospheric Fund Act (TAF Act) and several other City policies have been identified through the process of updating the governance documents. It is anticipated that a report from the City Manager seeking approval of the RF (which contains the Procedural By-law) and SIOP will be on Council's June 2022 agenda. Updates to By-Law No. 1 will be presented to the Board for approval at its July meeting, after Council's decision, and the Procedural By-Law for adoption.
The Board of Directors of the Toronto Atmospheric Fund: 1. Conveyed to City Council, via the City Manager, the Board of Directors' general agreement with the proposed updates to the Relationship Framework, as set out in Attachment 1 to the report (May 16, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund, subject to such technical non-substantive changes to Section 5.1.1 clause (i), Section 5.2.6, Section 6.1.11 and Section 7.1, based on the discussion by the Board at the meeting, to be reviewed on behalf of the Board by the Chair and Board member Graysanne Bedell, and finalized by the City and Toronto Atmospheric Fund. 2. Requested, via the City Manager, City Council's approval for Toronto Atmospheric Fund and the City to pursue certain amendments to the Toronto Atmospheric Fund Act, including: a. To remove or amend outdated references to the Municipal Act; and b. To remove the requirement for committees of Toronto Atmospheric Fund to hold Open Meetings. 3. Delegated to Toronto Atmospheric Fund's Chief Executive Officer the responsibility to implement the Relationship Framework and the Statement of Investment Objectives and Principles requirements, as appropriate, once approved by City Council.
Staff recommendation as filed
The Chief Executive Officer recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Convey to City Council, via the City Manager, the Board of Directors' general agreement with the proposed updates to the Relationship Framework, as set out in Attachment 1. 2. Request, via the City Manager, that Toronto Atmospheric Fund be added to Schedule A of the Lobbying By-law under the Toronto Municipal Code, Chapter 140. 3. Request, via the City Manager, City Council's approval for Toronto Atmospheric Fund and the City to pursue certain amendments to the Toronto Atmospheric Fund Act, including: a. To remove or amend outdated references to the Municipal Act; and b. To remove the requirement for committees of Toronto Atmospheric Fund to hold Open Meetings. 4. Delegate to Toronto Atmospheric Fund's Chief Executive Officer the responsibility to implement the Relationship Framework and the Statement of Investment Objectives and Principles requirements, as appropriate, once approved by City Council.
TA17.4received
Chair's Update on Human Resources Matters
The Chair, Board of Directors of the Toronto Atmospheric Fund will update the Board on Human Resources matters, including succession planning for the Vice President, Impacting Investing and other positions, as well as an update on the performance review for the Chief Executive Officer. These matters will require a closed session discussion, as they relate to personal information about identifiable individuals.
The Board of Directors of the Toronto Atmospheric Fund received the item for information.