Item - 2022.EX34.33

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 Casa Loma Corporation by:

a. receiving the "Casa Loma Corporation 2021 Audited Financial Statements", forming Attachment 1 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer; and

b. appointing Welch LLP as the Auditor of Casa Loma Corporation for fiscal year 2022 and authorizing the Board of Directors of Casa Loma Corporation to fix the remuneration of the Auditor.

2. City Council direct the City Clerk to forward a copy of the "Casa Loma 2021 Audited Annual Financial Statements", forming Attachment 1 to the report (June 27, 2022) from the City Manager and Chief Financial Officer and Treasurer, to the Audit Committee for information.

This report transmits materials submitted by the Board of Directors of Casa Loma Corporation to the City. No independent review or analysis has been performed by City staff. Representatives from the Board of Directors for Casa Loma have confirmed all financial information was made available to the auditors for the performance of the audit.

This report recommends actions necessary to comply with the requirements of the Business Corporations Act, Ontario (OBCA) for holding the Annual General Meeting of the Shareholder for Casa Loma Corporation, including receipt of its Audited Financial Statements (Statements) for 2021 and appointment of the auditor for 2022.

Casa Loma's 2021 Statements were audited by Welch LLP and received an opinion stating that the financial statements present fairly, in all material respects, the financial position of Casa Loma as at December 31, 2021, and its results of operations and its cash flows for the year then ended in accordance with Canadian public sector accounting standards.

This report transmits additional materials submitted by the Chair of the Board of the Casa Loma Corporation to the City, which provides comments on 2021 achievements, the current situation and future plans for Casa Loma, and the 2021 impact of COVID-19 on the Corporation, intended to supplement materials previously submitted for Item EX34.33.