Item - 2018.IB5.2

The Toronto Investment Board:

1.  Adopted the Toronto Investment Board Procedures By-law in Attachment 1 to the report (May 11, 2018) from the City Clerk and the Interim City Manager.

2.  Recommended that City Council approve the Toronto Investment Board Procedures By-law.

City Council, on March 28 and 29, 2017, adopted Item EX23.2, Establishment of an Investment Board.  At its first meeting on November 13, 2017, in adopting Item IB1.1 - Adoption of Interim Rules of Procedure, Meeting Plan and 2018 Schedule, the Toronto Investment Board adopted, as an interim measure, the procedures of Toronto Municipal Code Chapter 27, Council Procedures, as it applies to committees of Council, and requested the City Clerk, in consultation with the City Manager, to develop a procedures by-law for consideration by the Board and approval by City Council through its Executive Committee. This report responds to that request.

Boards of City agencies are required to conduct their proceedings according to a formal procedures by-law and the by-law must be approved by City Council.  The Procedures By-law establishes rules for how the Board will conduct its business, including how the Board will govern itself, the roles and responsibilities of Board members, and meeting and decision-making requirements.

Currently, the Toronto Investment Board is following procedures in Toronto Municipal Code, Chapter 27, Council Procedures, as it applies to committees of Council.  This report recommends that the Toronto Investment Board adopt the Toronto Investment Board Procedures By-law (By-law) and forward to City Council, through the Executive Committee, for final approval.