Item - 2017.EX26.8
Tracking Status
- City Council adopted this item on July 4, 2017 without amendments and without debate.
- This item was considered by the Executive Committee on June 19, 2017 and adopted without amendment. It will be considered by City Council on July 4, 2017.
EX26.8 - Invest Toronto - Annual General Meeting and 2016 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on July 4, 5, 6 and 7, 2017, adopted the following:
1. City Council treat that portion of the City Council meeting at which the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer is considered as the Annual General Meeting of the Shareholder for Invest Toronto Incorporated and:
a. appoint Pricewaterhouse Coopers LLP, Chartered Accountants, as the Auditor of Invest Toronto Incorporated for fiscal year 2017, and authorizing the Board of Directors of Invest Toronto to fix the Auditor's remuneration; and
b. receive the "Invest Toronto 2016 Audited Financial Statements" including the 2016 Invest Toronto Incorporated Overview, forming Attachment 1 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.
2. City Council receive the "Invest Toronto Incorporated Executive Compensation Disclosure 2016", forming Attachment 2 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.
3. City Council direct the City Clerk to forward a copy of "Invest Toronto 2016 Audited Financial Statements" including the 2016 Invest Toronto Inc. Overview forming Attachment 1 to the report (June 2, 2017) 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/2017/ex/bgrd/backgroundfile-104761.pdf
(May 5, 2017) Attachment 1 - 2016 Invest Toronto Incorporated Overview
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104762.pdf
Attachment 2 - 2016 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104763.pdf
Attachment 3 - Invest Toronto Incorporated Executive Compensation Disclosure for 2016
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104764.pdf
EX26.8 - Invest Toronto - Annual General Meeting and 2016 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 City Council meeting at which this report is considered as the Annual General Meeting of the Shareholder for Invest Toronto Incorporated and:
a. appoint Pricewaterhouse Coopers LLP, Chartered Accountants, as the Auditor of Invest Toronto Incorporated for fiscal year 2017, and authorizing the Board of Directors of Invest Toronto to fix the Auditor's remuneration; and
b. receive the "Invest Toronto 2016 Audited Financial Statements" including the 2016 Invest Toronto Incorporated Overview, forming Attachment 1 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.
2. City Council receive the "Invest Toronto Incorporated Executive Compensation Disclosure 2016", forming Attachment 2 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.
3. City Council direct the City Clerk to forward a copy of "Invest Toronto 2016 Audited Financial Statements" including the 2016 Invest Toronto Inc. Overview forming Attachment 1 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer, to the Audit Committee for information.
Origin
Summary
This report contains recommendations for the actions necessary to comply with the requirements of the Business Corporations Act (Ontario) for holding the Annual General Meeting of the Shareholder of Invest Toronto Inc. including receipt of its 2016 Overview and Audited Financial Statements for 2016, and appointment of the Auditor for 2017.
This report also contains recommendations for the receipt of information disclosing the individual compensation of executive officers employed by Invest Toronto Inc. in 2016.
Background Information
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104761.pdf
(May 5, 2017) Attachment 1 - 2016 Invest Toronto Incorporated Overview
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104762.pdf
Attachment 2 - 2016 Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104763.pdf
Attachment 3 - Invest Toronto Incorporated Executive Compensation Disclosure for 2016
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104764.pdf