Item - 2016.EX16.6
Tracking Status
- City Council adopted this item on July 12, 2016 without amendments.
- This item was considered by the Executive Committee on June 28, 2016 and adopted without amendment. It will be considered by City Council on July 12, 2016.
EX16.6 - Build Toronto - Annual General Meeting and 2015 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
City Council Decision
City Council on July 12, 13, 14 and 15, 2016, adopted the following:
1. City Council treat that portion of the Council meeting at which the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer is considered as the Annual General Meeting of the Shareholder for Build Toronto by:
a. appointing Pricewaterhouse Coopers LLP, Chartered Accountants, as the Auditor of Build Toronto for fiscal year 2016, and authorizing the Board of Directors of Build Toronto to fix the Auditor's remuneration;
b. receiving the Build Toronto 2015 Annual Review, forming Attachment 1 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer;
c. receiving the Build Toronto Financial Report to the Shareholder (which contains its 2015 audited consolidated financial statements), forming Attachment 2 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer;
d. receiving the Build Toronto Inc. 2015 Compensation Disclosure and Analysis, forming Attachment 3 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer; and
e. receiving Build Toronto's 2015 Value Add Report to the Shareholder, forming Attachment 4 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer.
2. City Council request the City Clerk to forward the Build Toronto Financial Report to the Shareholder, forming Attachment 2 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer, to the Audit Committee for information.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94323.pdf
Attachment 1 - Build Toronto 2015 Annual Review
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94324.pdf
Attachment 2 - Build Toronto Financial Report to Shareholder, which includes the Build Toronto Inc. Consolidated Financial Statements December 31, 2015
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94325.pdf
Attachment 3 - Build Toronto 2015 Compensation Disclosure and Analysis
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94326.pdf
Attachment 4 - Build Toronto's 2015 Value Add Chart to Shareholder
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94327.pdf
Motions (City Council)
Vote (Adopt Item) Jul-14-2016 9:47 AM
Result: Carried | Majority Required - EX16.6 - Adopt the item |
---|---|
Total members that voted Yes: 36 | Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bailão, Jon Burnside, Christin Carmichael Greb, Shelley Carroll, Raymond Cho, Josh Colle, Gary Crawford, Joe Cressy, Janet Davis, Glenn De Baeremaeker, Justin J. Di Ciano, Frank Di Giorgio, Sarah Doucette, Paula Fletcher, Mary Fragedakis, Mark Grimes, Michelle Holland, Stephen Holyday, Norman Kelly, Mike Layton, Chin Lee, Josh Matlow, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Denzil Minnan-Wong, Frances Nunziata (Chair), Cesar Palacio, James Pasternak, Gord Perks, Jaye Robinson, David Shiner, Michael Thompson, John Tory |
Total members that voted No: 0 | Members that voted No are |
Total members that were Absent: 8 | Members that were absent are John Campbell, Vincent Crisanti, John Filion, Jim Karygiannis, Giorgio Mammoliti, Ron Moeser, Anthony Perruzza, Kristyn Wong-Tam |
EX16.6 - Build Toronto - Annual General Meeting and 2015 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council treat that portion of the Council meeting at which the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer is considered as the Annual General Meeting of the Shareholder for Build Toronto by:
a. appointing Pricewaterhouse Coopers LLP, Chartered Accountants, as the Auditor of Build Toronto for fiscal year 2016, and authorizing the Board of Directors of Build Toronto to fix the Auditor's remuneration;
b. receiving the Build Toronto 2015 Annual Review, forming Attachment 1 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer;
c. receiving the Build Toronto Financial Report to the Shareholder (which contains its 2015 audited consolidated financial statements), forming Attachment 2 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer;
d. receiving the Build Toronto Inc. 2015 Compensation Disclosure and Analysis, forming Attachment 3 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer; and
e. receiving Build Toronto's 2015 Value Add Report to the Shareholder, forming Attachment 4 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer.
2. City Council request the City Clerk to forward the Build Toronto Financial Report to the Shareholder, forming Attachment 2 to the report (June 14, 2016) from the City Manager and the Deputy City Manager and Chief Financial Officer, to the Audit Committee for information.
Decision Advice and Other Information
The President and CEO, BUILD Toronto gave a presentation to the Executive Committee.
Origin
Summary
This report contains recommendations for the actions necessary to comply with the requirements of the Ontario Business Corporations Act (OBCA) for holding the Annual General Meeting of the Shareholder of Build Toronto Inc. (Build Toronto), including receipt of its 2015 Annual Review and audited Consolidated Financial Statements December 31, 2015, as well as the appointment of its auditor for 2016.
This report also contains recommendations for receipt at the Annual General Meeting of the Shareholder of information disclosing the individual compensation of executive officers employed by Build Toronto in 2015, and Build Toronto actions to add value to transferred properties to date.
Background Information
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94323.pdf
Attachment 1 - Build Toronto 2015 Annual Review
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94324.pdf
Attachment 2 - Build Toronto Financial Report to Shareholder, which includes the Build Toronto Inc. Consolidated Financial Statements December 31, 2015
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94325.pdf
Attachment 3 - Build Toronto 2015 Compensation Disclosure and Analysis
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94326.pdf
Attachment 4 - Build Toronto's 2015 Value Add Chart to Shareholder
https://www.toronto.ca/legdocs/mmis/2016/ex/bgrd/backgroundfile-94327.pdf