Item - 2017.CT19.3

The Board of Directors of Civic Theatres Toronto:

1.  Approved the Financial Policies as outlined in revised Attachment 2 to the report (May 23, 2017) from the Vice President of Finance and Administration, Civic Theatres Toronto.

2.  Established a Managed Risk Programming Committee as follows:

a.  the mandate of the Committee is to review the business case for the proposed at-risk presentations within the overall year budget and, as may be the case from time to time, for any individual additional items that may arise after the year budget has been Board approved and make recommendations to the Board.

b. the composition of the Committee is 5 members of the Board, inclusive of the the Chair of the Board of Directors of Civic Theatres Toronto, as Chair of the Committee. 

3.  Appointed the following Board members to the Committee:

-  Robert Foster, as Chair of the Committee

-  Kevin Garland

-  Steven Levitan

-  Councillor John Filion

-  Councillor Pam McConnell 

The purpose of this report is to present the Civic Theatres Toronto Financial Policies to the Board.

The Finance, Audit and Risk Management Committee, on June 8, 2017, considered Item RZ6.2 - Civic Theatres Toronto - Financial Policies.