Item - 2013.AU12.6

The Audit Committee recommends that:

1.         City Council receive for information, the 2012 audited financial statements of Community Centres, attached as Appendices to the report (June 18, 2013) from the Auditor General.

The purpose of this report is to provide the Audit Committee and City Council with the 2012 audited financial statements of Community Centres.

The 2012 audited financial statements for the Community Centres are presented to Audit Committee after approval by their respective Boards of Management.  According to the accounting firm of Grant Thornton LLP, individual management letters were not issued for the Community Centres as there are no material control deficiencies to report.  We understand however that a general management letter will be issued which identifies basic control deficiencies that would have relevance to all of the Community Centres.  This management letter will be submitted to the next Audit Committee meeting. 

The financial statements for the 519 Church Street Community Centre, Applegrove Community Complex, and Ralph Thornton Community Centre were not available at the time of preparation of this report but are expected to be available for the July 4, 2013 meeting of Audit Committee.