Item - 2020.EX14.12
Tracking Status
- City Council adopted this item on June 29, 2020 without amendments.
- This item was considered by the Executive Committee on June 22, 2020 and adopted without amendment. It will be considered by City Council on June 29, 2020.
- See also RA12.5
EX14.12 - CreateTO 2019 Financial Results and Annual Report
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
City Council Decision
City Council on June 29 and 30, 2020, adopted the following:
1. City Council receive the CreateTO 2019 Annual Report, in Attachment 2 to the report (April 16, 2020) from the Chief Executive Officer, CreateTO for information.
2. City Council approve the CreateTO 2019 Audited Financial Statements in Attachment 3 to the report (April 16, 2020) from the Chief Executive Officer, CreateTO.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147741.pdf
(April 16, 2020) Report from the Chief Executive Officer of CreateTO on CreateTO 2019 Financial Results and Annual Report
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147742.pdf
Attachment 1 - PricewaterhouseCoopers LLP Audit Results Report
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147743.pdf
Attachment 2 - 2019 Annual Report
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147744.pdf
Attachment 3 - 2019 Draft Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147745.pdf
Motions (City Council)
EX14.12 - CreateTO 2019 Financial Results and Annual Report
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council receive the 2019 Annual Report, in Attachment 2 to the report (April 16, 2020) from the Chief Executive Officer, CreateTO for information.
2. City Council approve the 2019 Audited Financial Statements in Attachment 3 to the report (April 16, 2020) from the Chief Executive Officer, CreateTO.
Origin
Summary
At its meeting on April 24, 2020, the Board of Directors of CreateTO considered Item RA12.5 and made recommendations to City Council through the Executive Committee.
As the City of Toronto's real estate agency, CreateTO manages the City's real estate portfolio, develops City buildings and lands for municipal purposes and delivers client-focused real estate solutions to City Divisions, Agencies and Corporations.
For the year ending December 31, 2019, CreateTO generated revenue of $12.49 million, had expenditures of $12.49 million, and net income of $0.
Background Information
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147741.pdf
(April 16, 2020) Report from the Chief Executive Officer of CreateTO on CreateTO 2019 Financial Results and Annual Report
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147742.pdf
Attachment 1 - PricewaterhouseCoopers LLP Audit Results Report
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147743.pdf
Attachment 2 - 2019 Annual Report
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147744.pdf
Attachment 3 - 2019 Draft Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2020/ex/bgrd/backgroundfile-147745.pdf