Item - 2015.AU3.5

The Audit Committee recommends that:

1.  City Council receive the 2014 audited financial statements of Community Centres attached as Appendices to the report (June 10, 2015) from the Auditor General.

The purpose of this report is to provide the Audit Committee and City Council with the 2014 audited financial statements of Community Centres.

The 2014 audited financial statements for the ten Community Centres are presented to Audit Committee after approval by their respective Boards of Management.  The external auditors, Welch LLP, advise that they have provided their comments on internal controls to each organization by way of a report to the Board.  Welch LLP's reports are appended to this report.

The financial statements for the Ralph Thornton Community Centre were not available at the time of preparation of this report but are expected to be available for the next meeting of the Audit Committee.