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From YouTube: Audit Committee - November 19, 2020
Description
Audit Committee, meeting 7, November 19, 2020
Agenda and background materials:
http://app.toronto.ca/tmmis/decisionBodyProfile.do?function=doPrepare&meetingId=19188
A
A
Good
morning
my
name
is
stephen
holliday
and
I'm
the
chair
of
the
audit
committee.
The
clerk
has
confirmed
that
we
have
quorum
so
I'll
call
meeting
seven
of
the
audit
committee
to
order
welcome
everybody.
Today's
meeting
is
being
held
by
video
conference
city
staff
are
also
connected
to
the
meeting
by
video
conference.
A
As
city
hall
remains
closed,
the
public
will
continue
to
participate
electronically
and
can
watch
the
meeting
streaming
live
online
on
youtube
at
youtube.com.
Slash
toronto
city.
Council
live.
I
ask
everyone
for
their
patience
with
any
delays
and
technical
issues.
We
currently
have
no
registered
public
speakers
for
this
meeting
should
one
be
registered.
The
list
of
public
speakers
can
be
viewed
online
by
visiting
the
audit
committee's
page
at
toronto.ca
council
and
clicking
the
speakers
box
for
today's
meeting
members.
This
is
a
paperless
meeting.
The
clerk
has
provided
all
agenda
materials
via
the
clerks
meeting
portal.
A
I.T
staff
will
be
able
to
help
members
with
their
devices
and
any
technical
issues
that
may
arise.
I
would
like
to
remind
staff
to
keep
their
mics
muted
and
their
videos
turned
off
unless
they
need
to
answer
a
question
or
speak
to
the
committee.
This
will
make
it
easier
for
me,
as
the
chair
and
for
those
watching
on
youtube
to
observe
members
as
they
participate
in
the
debate
and
vote
on
items
members.
A
Please
keep
your
mic
muted
unless
you
wish
to
question
staff
or
speak
to
an
item
and
ensure
that
your
video
is
turned
on
as
part
of
each
agenda
item
I'll
ask
members
to
raise
their
hand
or
unmute
their
mic
if
they
wish
to
question
staff
or
speak.
I
will
then
create
a
speakers
list
and
will
call
on
members
when
it
is
their
turn
to
speak.
When
voting
on
an
item
or
emotion,
I
ask
that
members
ensure
that
they
turn
on
their
video
and
to
raise
their
hand
to
indicate
their
vote
members.
A
I
want
to
remind
you
that
you
must
submit
and
approve
your
motions
by
email
staff
are
available
at
I'll.
Read
the
address
a-u-d-I-t-c-t-t-e
at
toronto.ca
to
help
with
motions
if
there
are
any
visiting
members
of
council
attending
the
meeting
today,
and
I
see
some
on
the
screen
already,
I
would
encourage
you
to
turn
on
your
video
so
that
I
know
that
you
are
present
and
can
give
you
the
opportunity
to
ask
questions
of
staff
or
to
speak.
A
This
will
also
assist
the
clerk's
staff
to
record
attendance
for
the
meeting,
although
we
are
in
different
locations
and
remedy
in
meeting
remotely
today.
The
committee
would
like
to
acknowledge
that
the
land
we
are
meeting
on
is
the
traditional
territory
of
many
nations,
including
the
mississaugas
of
the
credit,
the
anishnabek,
the
chippewa,
the
hudnashoni
and
the
wendat
peoples,
and
is
now
home
to
many
diverse
first
nations
inuit
and
metis
people.
We
also
acknowledge
that
toronto
is
covered
by
treaty
13
with
the
mississaugas
of
the
credit.
A
A
A
A
The
next
item
is
au
7.2,
business
improvement
areas,
bias,
2018
and
2019
audited
financial
statement.
There
is
a
report
from
the
comptroller
in
the
general
manager,
economic
development
and
culture
with
a
recommendation.
Would
anyone
like
to
hold
the
item?
If
so,
please
raise
your
hand
and
unmute
your
mic.
I
will.
A
A
There
is
a
report
from
the
controller
with
a
recommendation.
Would
anyone
like
to
hold
this
item?
I
see
none.
May
I
have
someone
move
the
item.
Please
the
staff
recommendations
in
the
report.
Counselor
ford
moves
the
staff
recommendations
of
the
report,
all
those
in
favor
and
he
opposed,
and
that
is
carried.
A
The
next
item
is
au
7.4,
sinking,
funds,
2019
audited
financial
statements.
There's
a
report
from
the
controller
with
a
recommendation.
Would
anyone
like
to
hold
this
item?
Seeing
none
may
ask
someone
to
move
the
staff
recommendations.
Counselor
nunziada
moves
the
staff
recommendations,
all
those
in
favor
any
opposed,
and
that
is
carried.
A
Au
7.5,
the
auditor
general's
office
2021
work
plan.
There
is
a
presentation
on
this
item,
so
I
will
hold
it
down.
I'll.
Also
note
that
there's
a
presentation
on
the
next
item,
which
we,
which
I
would
propose
members
if
they're,
unless
there's
any
opposition,
that
we
would
consider
together
and
that
would
be
the
next
item-
au
7.6-
is
there
any
members
wishing
to
hold
au
7.5,
otherwise,
okay.
The
next
item
is
a
7.6.
A
B
A
A
A
A
C
C
C
The
statements
consolidate
the
city's
results
of
operations
for
the
2019
year,
along
with
the
city's
financial
position,
as
at
december
31st
2019.
The
presentation
used
for
the
city's
consolidated
statements
follows
public
sector
accounting
standards
which
enhances
comparability
between
municipalities,
along
with
the
consistency
of
measurement
of
assets,
obligations
and
financial
results.
C
As
a
result,
there
are
differences
between
the
city's
budget
and
variance
presentations
and
the
presentation
of
the
consolidated
financial
statements
with
us
here
today.
We
also
have
michael
houghton
and
milan
shachira
from
pwc,
who
were
the
city's
auditors
for
the
past
10
years
and
audited.
The
2019
statement
in
2019
the
city
received
an
unqualified
opinion
from
pwc,
indicating
that,
in
their
opinion,
the
consolidated
financial
statements
present
fairly
in
all
material
respects,
the
city's
financial
position
and
results
of
operations.
C
C
C
The
preparation
of
the
city's
consolidated
financial
statements
is
the
responsibility
of
management
who
represent
to
the
auditors
that
the
statements
are
prepared
in
accordance
with
public
sector
accounting
standards
through
an
effective
system
of
internal
control.
The
statements
are
presented
based
on
financial
transactions,
representing
management's
decisions
and
actions
through
the
fiscal
year.
The
auditor's
role
is
to
perform
a
series
of
tests
so
that
they
may
provide
an
opinion
on
the
fair
presentation
of
the
statement.
C
The
auditors
cannot
comment
on
the
appropriateness
of
transaction,
but
rather
provide
their
opinion
on
the
fair
presentation
in
the
statements
themselves.
So
why
are
the
statements
so
important
because
they
contain
important
information
about
the
city's
financial
health?
There
are
tools
used
to
measure
the
organization
enhance
understanding
of
the
city's
operational
activities
that
translate
into
overall
financial
results.
D
The
statement
of
financial
position
answers
three
fundamental
questions:
they
answer
what
does
the
city
own,
which
is
reflected
through
our
financial
and
non-financial
assets?
What
does
the
city
owe
to
other
entities
which
is
reflected
through
our
liabilities?
And
finally,
how
did
the
city
perform
in
past
periods,
which
is
summarized
in
our
accumulated
surplus
balance?
So
on
an
overall
basis?
The
statement
of
financial
position
provides
an
overview
of
what
the
city
has
available
on
hand
to
execute
its
vision,
as
well
as
fulfill
its
commitment
to
the
public
next
slide.
Please.
D
D
On
december
31st
2019
the
city
held
3.3
billion
dollars
in
investments
and
2019
was
a
very
important
leader
for
the
city.
During
the
year
we
saw
the
city
implementing
a
new
investment
strategy
and
policy,
as
well
as
starting
its
work
with
external
investment
managers,
and
these
two
factors
combined
allowed
the
city
to
have
a
more
diversified
investment
portfolio,
and
we
saw
new
types
of
assets
being
introduced,
such
as
mortgages,
foreign
corporate
bonds
and
finally
equities.
D
Now
this
asset
really
consists
of
those
resources
that
are
used
to
provide
services
to
residents
and
the
additions
were
in
response
to
the
city's
aging
infrastructure,
as
well
as
increased
assets,
to
account
for
increased
surpassed
by
increased
service
capacity
that
resulted
from
increasing
populations
in
2019
and
now
sander
will
cover
off
the
liabilities
and
accumulated
surplus
next
slide.
Please.
C
C
C
However,
a
major
component
of
the
city's
liability
balance
is
the
long-term
debt.
The
city
only
borrows
for
capital
investments,
so
those
tangible
capital
assets
that
jury
mentioned
earlier,
such
as
buildings,
roads,
buses,
water
and
wastewater
infrastructure
and
vehicles
that
are
instrumental
in
the
provision
of
the
city
services
in
2019.
The
city
issued
950
million
in
debt,
which
included
a
20-year
green
bond
through
our
green
debenture
program
that
focused
on
capital
projects,
mitigating
the
impacts
of
climate
change
and
enhanced
environmental
sustainability.
C
Over
the
past
five
years,
the
consolidated
city
invested
an
average
of
3
billion
dollars
in
tangible
capital
assets,
while
borrowing
an
annual
average
of
972
million
dollars.
In
2019,
only
30
percent
of
the
city's
tca
acquisitions
were
funded
through
debt.
This
figure
averaged
32
over
the
past
five
years.
C
To
ensure
the
city
that
cash
is
available
to
finance,
get
repayments
at
maturity.
Contributions
are
made
to
sinking
funds.
The
syncing
funds
act
like
a
savings
account
where
cash
is
accumulated,
then
used
to
repay
outstanding
amounts.
You
actually
just
approved
the
city's
thinking
fund
financial
statements
in
this
meeting
next
slide.
Please.
C
So
we
just
wanted
to
cover
two
important
measures
that
are
that
are
significant
to
the
city's
overall
financial
position.
Net
debt
is
the
difference
between
financial
assets
and
liabilities.
The
city
of
2019,
year-end
net
debt
balance
was
8.2
billion,
which
increased
by
0.1
billion
or
1.6
over
the
2018
balance.
C
C
D
Now,
on
to
the
statement
of
operations
in
2019,
the
city
recorded
a
total
revenue
of
14.4
billion
dollars,
which
was
comprised
mainly
of
property
and
taxation
from
other
government
government
transfers
and
user
charges.
The
2019
amount
increased
by
0.6
billion
as
compared
to
2018,
mainly
due
to
a
1.8
increase
over
property
and
other
taxes,
as
well
as
the
recognition
of
106
million
dollars
and
pension
surplus
distribution
that
we
covered
in
earlier
slides
now,
property
taxes,
as
well
as
other
taxes,
account
for
approximately
30.7
percent
of
the
city's
overall
revenue
balance.
D
What's
important
to
note
is
that
property
taxes
have
shown
average
growth
over
the
last
five
years,
that's
significantly
lower
than
other
sources
of
revenues.
Next
slide,
please.
So
from
an
overall
statement
of
operations.
Point
of
view,
the
extensive
balance
experienced
minimal
changes
in
2019,
and
we
see
that
the
composition
of
expenses
also
remains
fairly
consistent
to
what
we
noticed
in
prior
years.
D
D
There
are
some
significant
measures
to
note
for
the
city
statement
of
operations
on
an
overall
basis.
We
see
that
the
city
is
performing
much
better
than
benchmark
ratios
set
aside
for
canadian
municipalities,
for
instance,
the
city
has
sufficient
cash
on
hand
to
pay
for
its
annual
expenditure
and
its
ability
to
collect
as
its
property
taxes
is
effective.
D
Net
taxes,
receivable
of
the
proportion
of
taxes
levied,
is
calculated
at
5.8
percent
for
2019,
and
this
is
also
reflective
of
a
positive
measure
as
compared
to
the
municipal
benchmark.
This
measure
indicates
that
the
city's
collection
practices
are
effective
and
you
can
say
that,
because,
on
an
annual
basis,
the
city
really
only
writes
off
about
0.1
percent
of
its
account
and
taxes
receivable
amounts.
D
Finally,
there
is
one
growth
pattern
that
we
should
be
monitoring
and
that
really
has
to
do
with
the
gap
between
our
revenue,
growth
and
our
expenditure.
Growth.
Predicting
the
pace
of
growth
for
both
revenues
and
expenditures
is
not
an
easy
task.
However,
it
is
something
to
watch
for
as
the
gap
in
the
city's
ability
to
generate
enough
funds
to
cover
annual
expenditures
is
decreasing.
D
C
Thanks
durie,
so,
finally,
if
you
haven't
seen
our
annual
financial
report,
we
encourage
you
to
read
the
full
report.
The
annual
financial
report
contains
more
than
just
the
city's
financial
statements.
It's
our
year-end
document
that
connects
the
city's
operational,
shared
vision
and
commitments
with
financial
information
spotlighting
a
few
significant
services
providing
an
in-depth
review
of
the
city's
annual
financial
results,
along
with
additional
statistical
information,
that's
important
to
readers
of
the
report
itself
and
the
statements.
C
So
before
we
end
this
presentation,
please
give
me
the
opportunity
to
thank
pete,
the
pwc
audit
team
for
their
work
on
the
city's
audit
for
the
past
10
years.
Their
partnership
with
the
city
has
resulted
in
stronger
financial
statements
to
tell
the
city's
financial
story.
I'd
also
like
to
thank
my
team
in
accounting
services
for
their
hard
work
and
diligence
and
preparing
the
financial
statements
supporting
the
external
audit,
ending
the
creation
of
the
annual
financial
report
jury,
and
I
appreciate
the
opportunity
to
present
to
you
today
we're
happy
to
take
any
questions.
A
Seeing
none,
I
I
do
have
a
couple
of
very
quick
ones,
perhaps
to
sandra
or
jury.
I
just
noticed
on
slide
13.
There
is
a
really
interesting
graph
that
talks
about
growth
patterns
to
watch
revenue
versus
expenses,
and
I
wondered
if
you
could
tell
me
what
drove
the
growth
of
both
revenue
expenses
in
2018.
There's
a
really
big
jump.
There.
C
Well,
so
so
in
2018
we
really
looked
at.
I
guess
we
I
mean
we
can
certainly
go
back
to
the
financial
statements
and
get
you
some
some
details,
but
what
we
do,
what
we
monitor,
what
we
did
to
prepare
this
graph
is
really
look
at
what
was
happening
to
property
taxes
along
with
other
with
other
revenue
sources,
and
then
what
was
having
happening
to
expenditures
in
2018.
We
did
have
some
significant
revenues,
such
as
government
transfers.
C
So
in
particular
we
had
some
people,
revenues
that
came
into
the
city,
so
that
would
have
accounted
for
the
revenue
growth
and
then
we
had
some
additional
expenditures
again
in
terms
of
enhanced
services,
but
the
the
whole
point
of
creating
this.
This
slide
for
you
or
this
particular
graph,
is
to
show
that
you
know,
as
as
we
really
need
to
be.
Monitoring,
is
the
pace
of
revenue,
keeping
up
with
the
pace
of
expenditure,
growth.
A
Okay,
thank
you
for
that
I'll
just
check
one
more
time
with
the
committee.
If
there's
a
any
inspired
questions
seeing
none,
I
will
just
make,
of
course,
the
very
quick
comment
of
thank
you
to
the
accounting
team
and
and
to
you
sandra
and
jury,
for
your
presentation
today
and
all
of
your
work
and
of
course
thank
you
to
our
external
auditors,
pricewaterhousecoopers
and
michael
houghton,
who
I
know
is
on
the
call
and
is
ready
for
a
question,
but
but
we
didn't
get
any
today.
A
So
I
thank
you
for
your
work
on
all
of
this.
We
appreciate
this
and
the
service
to
the
city.
Are
there
any
members
wishing
to
speak
to
this
item,
seeing
none
any
members
wish
to
make
a
motion
to
to
take
care
of
the
item
just
check
with
a
clerk.
If
you
remind
me
what
is
the
yeah,
this
is
to
recommend
a
council
approval
yeah.
A
Yes,
so
the
audit
committee
will
recommend
the
council
to
approve
the
audited
financial
statements.
Okay,
I'll
move
that
that's
easy
all
those
in
favor
any
opposed.
That
item
is
carried
all
right
on
to
members.
You'll
recall
that
we
we
agreed
to
consider
both
au
7.5
and
au
7.6
together.
So
the
first
7.5
is
the
auditor
general's
2021
work
plan
and
the
7.6
is
the
auditor
general's
office
2021
operating
budget
at
madame
auditor
general
welcome
to
the
floor.
You
have
a
brief
presentation
for
the
committee
and
then
we'll
go
to
questions.
E
I
do
and
thank
you
chair,
so
I'd
like
to
first
start
by
saying
the
work
plan
there's
actually
a
quite
a
bit
of
work
that
goes
into
a
work
plan
and
we've
taken
that
you
know
we
have
a
five-year
plan
that
has
resulted
from
an
extensive
amount
of
consultation.
So,
although
it
looks
like
a
small
presentation
behind
it,
there's
a
lot
of
work
by
a
lot
of
people
to
come
up
with
a
priority
project.
So
first
slide.
E
This
year,
there's
been
a
focus
on
cyber
security.
We
finished
our
water
project,
our
scada
project.
We
have
a
lot
of
work
on
going
right
now
for
cyber
security
at
police
ttc
and
we're
going
to
be
commencing
work
around
the
9-1-1
system
across
the
city.
So
there's
a
lot
of
work,
that's
ongoing
right
now.
We
historically
have
had
a
return
of
investment
of
11.
We
don't
have
a
number
right
now,
what
that's
going
to
be
for
this
year
the
year
pass,
we'll
have
that
in
february.
That's
our
traditional
report
out
date.
E
We
also
are
focusing
a
lot
on
looking
at
common
themes
and
systemic
issues
and
we
produce
a
report
on
that.
This
year
we
have
an
expanded
mandate
and
emerging
issues,
police
library,
cyber
security.
These
are
all
areas
that
have
expanded.
We
have
a
roadmap
for
five
years
for
future
audits
and
over
the
we
have
a
consulted
50
divisions.
E
We
have
consulted
the
the
agencies
and
corporations
to
come
up
with
their
plan,
and
I
think
he,
when
we
headed
into
the
covid
lockdown,
what
was
really
key
was
that
we
decided
to
really
accelerate
the
implementation
to
modernize
our
systems.
These
were
in
the
works,
but
we
were
able
to
really
set
a
solid
foundation
going
forward.
So
we
modernized
our
audit
software.
E
E
E
Cyber
security
is
definitely
an
area
where,
especially
when
we're
doing
a
lot
more
remote
work
and
we're
relying
on
that
that's
a
key
area
and
we're
focused
on
the
critical
systems.
Toronto
building.
It's
been
a
long
time
since
we've
done
a
full
review,
we're
going
to
do
in-depth
multiple
projects,
probably
in
that
area,
9-1-1
and
police,
actually
we're
looking
at
doing
almost
a
holistic
look
at
9-1-1.
E
E
E
It
might
be
that
we
we
bring
them
in
next
year,
in
other
words,
they're
the
they're,
the
projects
that
are
waiting
and
what's
been
really
critical
in
the
work
we've
always
done
and
as
we
move
forward
is
to
have
flexibility
in
our
plan.
So
as
we
move,
if
something
happens
like
when,
when
we
had
to
work
from
home-
and
we
couldn't
go
out
on
the
job,
we
were
able
to
continue
to
work
effectively.
So
we
have
a
number
of
items
on
the
horizon.
E
It
doesn't
mean
that,
right
now,
the
plan
for
21
22
will
start
them,
but
it
might
be
that
we
might
do
a
little
bit
more
this
year
than
than
than
in
22.
and
then
agencies
and
corporations.
Certainly
library
has
welcomed
us
in
with
open
arms
police
are
working
with
this.
So
that's
the
that's
the
highlights
of
the
projects
and
we
have
a
full
plan,
and
and
really
you
could
stack
audit
files
from
the
floor
to
the
ceiling
on
the
risk
assessment
analysis
that
that
really
goes
into
this.
E
So
that's
that's
that
next
slide.
Please
challenges
and
priority
actions,
so
recognizing
we're
in
a
situation
where
funding
is
a
challenge
for
all
for
the
entire
city,
recognizing
that
we
have
an
expanded
mandate
and
emerging
risks,
so
expanded
mandate
was
fought
with
library
and
with
the
police
and
because
police
hasn't
been
audited
in
like
10
years.
There
is
a
lot
of
focus.
That's
going
to
happen
there
at
once,
and
you
know,
cyber
security
is
something
that
we
really
need
to
keep
our
finger
on.
The
call
for
that.
E
So
that's
the
emerging
risks
responding
to
areas
in
a
timely
manner,
so
things
can
come
up.
So
there's
always
you
know
responding
to
something
that
can
come
up.
It
could
be
a
cyber
risk.
We
have
to
have
flexibility
for
that
and
then
also
having
we're
seeing
a
higher
volume
in
the
front
waist
hotline-
and
this
is
not
necessarily
all
fraud-
complaints
when
you're
in
a
reduced
budget
situation
and
when
you're
having
challenges
people
come
up
with
ideas
of
how
savings
can
happen,
and
so
they
bring
them
to
the
fraud
and
waste
hotline.
E
E
Even
though
we
have
a
reduced
budget,
we
need
to
secure
down
some
positions
that
are
temporary,
there's
five
positions
in
the
junior
level
positions,
but
you
need
to
have
that
solid
base
to
continue
to
deliver
and-
and
I
feel
that
the
budget
is-
is
reasonable,
given
given
what
we're
facing
and
we
are
really
cutting
corners
so,
but
not
cutting
the
value
of
our
work.
So
the
organization
is
key.
Going
forward
agility,
we're
cross-training.
E
We
have
a
lot
of
projects
that
are
in
the
backlog
that
we
can
select.
If
we
need
to,
we
can't
go
out
on
the
job
for
something.
If
something
changes
in
relation
to
the
safety
of
employees,
we
can
effectively
work
from
home.
We
can
do
a
lot
from
home
and
then,
when
we
can
get
out
in
the
job
go
out
on
the
job,
then
so
we
have
adapted
it's
kind
of
it's
a
challenging
time,
but
that
that
really
brings
opportunities.
E
Also
so
new
thinking
and
so
we've
been
able
to
adapt
that
we
cross-trained
our
teams.
It
used
to
be
the
fraud
hotline
would
work
separately
from
the
audit,
but
the
standards
have
changed
and
you
have
to
really
embed
fraud
within
the
audit
to
do
an
assessment
of
fraud,
and
so
we
have
cross-trained
our
staff,
which
provides
opportunity
to
make
sure
everybody
is
working
at
their
utmost
capacity
and
we
have
the
best
resources
working
on
the
right
jobs
when
we
need
them.
E
So
it's
been
a
growth
over
the
last
five
years,
but
I'm
very
proud
of
the
entire
team
and
how
they've
been
able
to
do
that.
Cross
training
creates
capacity.
So
that's
that's
a
that's
a
really
that's
how
we're
addressing
the
challenges
that
we
face
next
slide.
Please-
and
this
is
our
budget,
so
we're
asking
for
one
twentieth
of
one
percent.
So
we
stay
within
the
0.05
percent
of
the
city's
approved
operating
budget.
We
have
an
expanded
mandate,
we
have
emerged
risk
and
we
are
adapting
to
that.
E
E
E
E
We
report
within
to
make
sure
every
resource
is
being
utilized,
no
matter
what
the
state
is
outside
with
covid,
because
we
feel
a
responsibility
as
much
as
we
can
to
continue
and
cross-training
resources
is
really
building
capacity
within
and
building
capacity
within
the
individuals
within
the
team
and
just
on
agility.
I'm
just
going
to
make
one
last
comment:
when
covet
occurred
and
and
we
were
prepared
to
work
off
site,
we
had
our
systems
ready
to
go.
E
So
this
is
the
work
plan
with
a
lot
of
a
risk
assessment
behind
that
to
develop
a
bevy
of
projects,
we
have
a
reduced
budget
with
an
expanded
mandate
doing
more
with
last
and
we
are
setting
the
team
up
to
continue
to
be
stable
and
successful
as
the
in
my
final
year
and
beyond.
So
thank
you
I'll.
Take
questions.
If
you
haven't.
A
A
A
None
are
there
any
members
wishing
to
speak
on
either
item
seeing
none.
I
will
I
just
thank
the
auditor
general
for
bringing
this
both
of
these
reports
to
us
and
really
just
reflect
on
the
year
before
we
talk
about
the
next
one,
that
with
covid
the
entire
toronto
public
service
has
been
stressed
in
various
ways
to
deliver
services.
A
Deep
in
these
reports
are
a
few
nuggets
about
some
of
the
things
that
the
auditor
general's
office
did
to
contribute
to
the
effort,
in
addition
to
delivering
their
regular
work,
and
one
that
I
just
remember
is
just
because,
madam
auditor,
I
recall
that
you
have
a
diverse
team.
I
know
that
they
were
doing
some
translation
work
in
support
of
covid.
A
So
maybe
I
would
make
the
comment
that
rest
assured.
Madam
monitor.
I
think
council
is
going
to
continue
to
challenge
you
over
the
next
year
with
ideas
and
and
and
questions
and
further
audits
and
investigations,
and
looking
at
different
things
and
you're
going
to
have
to
deliver
on
those
external
pieces
and
you're
going
to
have
to
do
it
with
less
money.
A
But
I'm
confident
you
are
up
to
the
challenge
and
I
look
forward
to
this
endeavor
together
with
that.
May
I
ask
if
there
are
any
members
of
council
that
would
would
like
to
move
either
of
the
two
reports.
The
first
is
to
receive
the
auditor
general's
work
plan,
counselor
filling
so
that
is,
au
7.5,
auditor
general's
work
plan,
all
those
in
favor
any
opposed,
and
that
is
carried
and
now
on
the
second
item,
which
is
au
7.6,
the
auditor
general's
operating
budget.
There
are
two
recommendations
before
us.
A
The
first
is
is
that
this
committee,
I'm
paraphrasing,
will
endorse
it
and
move
it
to
the
budget
committee,
and
the
second
would
be
to
ask
city
council
to
approve
the
auditor
general's
request
to
convert
five
temporary
contract
staff
positions
into
permanent
positions,
and
I
think
I
saw
counselor
nunziada.
Did
you
want
to
move
that
all
those
in
favor
any
opposed,
and
that
is
carried?
We
are
now
on
to
our
final
item.
A
That
is,
au
7.7,
review
of
268th
street
land
transaction.
No
wrongdoing
identified
councillor
ford.
You
had
held
that
item.
However,
I'm
going
to
ask
if
there
are
visiting
members
of
council
that
wish
to
ask
questions
on
this
item,
and
these
would
be
public
questions,
knowing
that
we
will
likely
go
into
camera
later
for
in-camera
questions.
F
F
Great
I'm
just
establishing
this
was
a
piece
of
land
that
was
very
hard
to
sell
from
what
I
can
see.
It
was
first
was
a
tplc
piece
of
land
and
then
in
2013
council
said
build
toronto.
Please
help
tplc
sell
it.
There
were
a
couple
of
false
starts
and
then
in
2017
this
land
was,
you
had
an
rfp
for
a
broker,
and
then
I'm
not
sure
I'm
still
on
here.
Am
I
still
on.
F
F
B
Counselor
I'd
like
to
invite
my
colleague
don
logie
to
respond
to
that
dawn,
led
the
sale
process
with
the
caveat
that
I'd
asked
dawn
to
respond
to
your
question
in
a
way
that
is
suitable
for
the
public
aspects
of
this
particular
meeting.
To
the
extent
that
there
are
confidential
issues
he
wishes
to
address,
perhaps
we
can.
We
can
reserve
those
to
the
in-camera
session.
G
B
F
G
B
F
G
G
F
G
F
The
necrosis
okay,
thank
you.
I
just
have
another
one,
which
is
the
core
use
of
the
land.
I
note
that
there
was
a
situation
where
it
was
said
that
commercial
office
condos,
is
a
preferred
use
and
I'm
wondering
if
that's
the
city's
position
for
core
employment
or
if
a
more
of
a
manufacturing
core
employment
use,
is
the
goal.
G
H
Thank
you,
mr
chairman.
I
might
need
a
second
round,
I'm
not
too
sure
yet,
but
so
I'll
just
start
with
mr
loeby,
so
in
may
2017.
Well,
let
me
just
back
up
so
this.
This
20
acre
piece
of
property
has
been
purchased
by
ted
kawaii
tickle
bite,
but
back
in
my
first
terms,
we'll
be
back
from
around
old
four
or
five.
Is
that
correct.
G
H
H
I
got
and
you
know
my
concern:
all
a
lot
has
been
the
number
of
jobs
here
on
the
site
and
I
have
an
email
hearing
from
you
too,
mike
krajevik
at
the
time.
It
was
for
to
me
that
this
is
from
you
saying
the
unit
would
generate.
This
should
generate
600
to
seven
employees
on
this
site.
Do
you
recall
that.
H
G
H
H
A
H
G
So
I
think
there
are
two
factors:
I'm
not
totally
familiar
with
all
the
details,
but
I
do
know
that
there
was
the
first
of
all
ours
is
a
vacant
site
campbell
soup
had,
I
believe
it
was
that
they
had
a
four
300
to
500
000
square
foot
building
on
it
and
that
part
of
that
building
was
that
most
of
that
was
reusable
or
was
acceptable
for
industrial
use.
So
that
would
add
value.
But
I
have
to
say
that
the
biggest
issue
we
found
in
the
seven
to
eight
years
we
were
marketing.
G
G
H
To
and
dragged
jeff
steiner
out
there
to
buy-
and
you
know
converse
him
to
convince
him
to
buy
that
the
property
at
that
time.
I
know
it
was
before
your
time
it
was.
It
was
probably
never
going
to
be
sold.
We
thought
at
that
time
because
of
the
contamination,
but
tedco
moved
forward.
Did
an
amazing
job
of
cleaning
the
site,
putting
those
leaching,
curtains
down
and
and
and
now
a
a
proponent
could
buy
their
bank
would
let
them
take
take
the
liability
on.
Is
that
correct,
so
the
site
is
basically
clean.
H
This
site
was
cleaned
by
tedco.
You
might
want
to
check
that
because
I
was
very
involved
in
it
and
it
at
that
time.
We
thought
it
would
never
be
able
to
be
sold,
but
now
it
is
because
the
great
work
that
tedco
did
so
with
that
so
and
just
for
the
record
I
hear
campbell's,
the
campus
with
the
people
of
bot
are
just
ripping
those
buildings
down
anyway,
so
I
just
don't
see
how
it
could
double
the
price.
Those
are
my
questions
on
that
now.
What
is
the
mandate
of?
H
B
B
B
A
A
A
H
E
E
There
was
a
large
difference,
obviously
between
the
value
of
the
campbell
soup,
property
and
the
value
obtained,
and
I
felt
that
it
and
we
get
several
of
these.
You
know
come
into
us
and-
and
I
felt
it
was
worth
just
looking
at
a
very
narrow,
a
very
narrow
scope
to
see
if
the
value
was
it
was
appropriate,
was
obtained
and
it
was.
We
had
a
real
estate
appraiser
who
looked
at
the
campbell
soup
property
which
sold
a
year
later
it
was.
E
It
was
obviously
a
hot
market
and
he,
you
know,
considered
the
what
was
on
the
property
and
felt
that
you
know
it
wasn't
really
a
comparable
thing
and
he
did
his
own
independent
evaluation
and
he
felt
the
value
was
there.
So
it
was.
You
raised
a
question
and
that's
why
the
otters
here
it
was
a
legitimate
question
to
look
at
that
and
that's
why
we're
here
so
that
we
can
at
least
provide
you
know
the
information.
So
those
questions
can
be
settled
so.
H
E
From
the
perspective
of
the
questions
that
you
had,
I
felt
that
if
you
have
questions
it
was
a
legitimate
question
and
we
did
it
independent
work
and
there's
value
in
knowing
that
things
worked
appropriately
and
the
board
acted
appropriately
and
the
value
the
value
was
there.
But
I
can
see
when
the
property
that's
close
and
very
different
and
45
million
compared
to
like
20
million
there's
a
big
difference.
It
raised
a
question
but
the,
but
the
board
was
appropriate.
H
E
H
Getting
to
council
fletcher's
question
about
unsolicited
proposals.
There
was
a
large
sign
on
this
property
on
both
on
new
toronto
street
and
birmingham
rather
large,
like
probably
eight
by
16
or
four
big
huge
for
sale.
Sign
with
contact
information
is
that
on
the
line
for
somebody
to
call
and
call
to
create
till
what
it
says
on
the
sign
and
put
a
put
an
offer
in.
E
H
E
So
that
question
would
be
most
appropriate
to
patent
the
total.
He
deals
with
bids
a
lot
and-
and
you
know
he's
conveyed
to
me-
that
it's
not
unusual
to
have
unsolicited
proposals
to
come
in
when
after
a
bid
has
closed,
is
how
the
board
deals
with
those
proposals.
In
this
case
they
had
an
agreement
in
place.
A
F
Yes,
I
did
just
a
couple
of
these
just
arising
and
I
think
this
is
very
helpful
to
just
clear
everything
up
hearing
and
I
appreciate
the
auditor's
answers.
I
just
wanted
to
ask
about
the
commercial
office
condo
market
that
I
believe
is
considered
to
be
more
of
a
job
supplier
and
one
of
the
things
that
I
think
is
happened.
G
There
were
a
couple
of
condo
condo
office
proposals
in
north
etobicoke,
but
none
of
those
went
ahead.
So
we
concluded
that
it
was
a
very
weak
market.
We
actually
looked
at
the
gta
at
all
and
found
that
it
was
a
highly
niche
market
for
and
and
really
only
was
successful
in
certain
selected
areas
like
young
and
shepherd,
for
example,
had
a
successful
launch
of
condo
offices.
F
G
So
so
tedco
did
in
2006
removed
some
hots
what
we
call
hot
spots
on
the
site
we
were
trying
to
market,
but
unfortunately
there
was
still
lots
of
contamination
in
contained
within
the
soil
generally
and
that
combined
with
the
fact
that
there
was
underwater
flow
transporting.
That
is
what
created
the
big
concern
amongst
prospective
buyers
of
this
property
that
basically
we
we
didn't
get
a
serious
offer
for
seven
years.
It
was
only
because
of
a
hot
market
that
started
to
deal
yet.
We
were
actually
able
to
hold
a
bidding
process.
G
F
And
so
perhaps
mr
steiner
doesn't
remember
that
as
well,
because
it
was
it
was
touched,
but
it
wasn't
deep
cleaned
in
the
way
that
was
determined.
That
became
an
issue
here
for
this
piece
of
land.
Did
it
not
correct
just
that
ongoing
contamination?
That's
great!
Thank
you
and
auditor
general.
Just
back
to
you.
There
was
a
broker
hired
by
creation
you're,
not
on
my
screen.
So
I
can't.
F
E
So
I'm
not
going
to
comment
on
not
theoretical.
What
I
can
say
here
is
that
it
has
been
a
bumpy
ride
to
to
use
some
of
your
words
counselor,
and
this
is
through
the
chair.
So
in
the
beginning
a
deal
fell
through
early
on
and
then
a
lot
of
work
went
into
getting
an
rfp
doing
a
market
valuation
processing
nine
bids,
and
then
you
moved
on
to
a
bitter
there's
environmental
issues.
E
So
at
any
point
in
time
a
deal
could
have
potentially
fallen
apart
and
then
it
would
be
for
the
board
to
deal
appropriately
with
anything
else.
It
might
grow
to
the
to
the
market,
a
third
time
it
might
realize.
You
know
what
maybe
that
didn't
work
that
would
be
for
the
board
to
decide
they're
charged
with
that.
I
felt
at
the
board
when
they
had
a
deal
in
place.
They
worked
in
good
faith
with
the
proponent
to
make
sure
that
this
deal
would
go
through,
and
I
felt
that
the
board
acted
appropriately.
A
A
A
I
would
ask
the
clerk
to
temporarily
close
the
meeting
to
members
of
the
public
and
to
only
advise
sorry
and
to
only
provide
access
to
members
and
appropriate
staff
for
the
closed
session
portion
of
this
meeting.
In
addition,
the
youtube
live
stream
will
be
suspended
until
the
close
session
is
over
members.
I
would
also
remind
you
to
arrange
your
surroundings
so
that
no
other
person
observes
any
part
of
the
close
session.
A
A
A
A
F
Fletcher,
please
go
ahead.
Thank
you.
Thank
you.
Thank
you,
mr
chair,
and
I
do
want
to
thank
the
auditor
general
for
what
I'm
going
to
call
a
very
thorough
report
and
understand
that.
I
think
it
was
a
good
idea
for
her
to
have
a
look
at
that
and
the
way
she
explained
why
why
she
did
that,
and
I
think
that's
fair,
that
councilor
grimes
wanted
to
ask
her
to
have
a
look
because
he
was
quite
concerned.
F
This
has
been
a
difficult
property
and
as
well
it's
been
transferred
from
tedco
had
something
called
arrowhead.
Then
it
came
back
to
tedco.
Then
it
went
to
build.
Then
it
went
to
create
so
there's
never
been
a
really
straight
line
with
all
of
the
changes
that
we've
had
at
the
city,
with
our
real
estate
and
and
the
corporations.
So
that's
the
first
thing.
F
Everything
does
go
through
an
rfp,
so
I
want
to
say
that
establishing
these
standards
is
very
important.
I
think
we've
also
cleared
up
the
fact
that
this
piece
of
property
was
not
was
contaminated.
It
had
not
been
cleared
up
to
the
point
that
the
kanpar
site
had
been
by
tedco.
It
simply
had
had
a
few
really
hot
spots
taken
out
but
suffered
from
this
long
reputation
and
long,
difficult
and
long
difficult
issue
of
contamination
that
obviously
had
to
be
settled
when
the
land
when
the
land
was
sold.
F
So
I
really
understand
that
unsolicited
bids
have
come
in
the
part
that
I'm
still
unclear,
and
I
think
that
it's
important
that
our
board
is
clear
and
the
city
is
clear-
is
once
you're
on
an
rfp
and
you've
had
nine
bids
and
selected
someone
if
that
falls
through
what
is
the
proper
business
practice?
What's
the
standard
we
would
use-
and
I
think
it
has
to
be
very
clear
that
it
would
be
another
rfp
not
jumping
to
someone
who
didn't
bid
at
the
first
with
a
higher
price.
F
Now,
our
interim
ceo
as
to
how
to
proceed
so
setting
some
of
those
standards
at
the
city
side.
I
think
we
have
those
standards
at
the
city
side
and
we
have
executed
those
same
standards
at
the
create
side,
and
that's
one
of
the
lessons
from
from
this
is
that
many
rocky
attempts
didn't
get
something
at
the
end
of
the
day
and
a
very
strong,
clear,
clean,
accountable
and
transparent
process
was
in
effect
and
that
the
auditor
has
said
that
happened.
So
I
just
want
to
make
those
remarks
here
today
about
that.
Thank
you.
H
So,
mr
chairman,
I
know
you
know
this
site
very
well.
I
know
councillor
ford
knows
that
20
acres
of
prime
industrial
lands
in
in
my
ward
that
in
2003,
when
I
ran
they
sat
there
for
years.
This
was
the
old
antican
of
brass.
As
a
house
reflection
arrowhead,
it
was
there
for
years
contamination
that
time
I
brought
jeff
steiner
out,
convinced
tedco
to
look
at,
buy
it.
Otherwise,
just
still
be
there
we're
so
contaminated.
H
At
that
time
we
thought
would
never
be
sold,
but
people
get
a
good
job,
putting
the
curtain
walls
down
doing
those
clean
hot
spots,
and
now
another
bank
would
allow
product
to
buy
it
which
we're
seeing
today
and
take
on
that
liability,
which
is
happening,
but
I'm
looking
from
a
different
lens.
We
stand
at
council,
we
pound
our
fists
to
protect
these
employment
lines
for
employment,
and
I
made
it
clear
from
the
get-go
I
didn't
want
this
deal.
H
I
want
jobs.
This
is
one
block
for
our
main
street
lakeshore
boulevard
and
I
don't
want
a
big
box
warehouse.
I
called
john
olivia.
We
went
in
with
the
proponent
they
went
through
it.
They
told
us
600
to
700
jobs,
and
I
disputed
that
from
the
get-go,
a
big
logistics
warehouse,
one
block
from
lake
shore-
I
don't
want.
I
want
jobs
for
the
lake
shore
that
made
it
clear
to
to
everybody.
I
want
jobs,
you
know
I'm
not
too
concerned
about
the
price
of
22
million
or
20.
I
want
jobs.
I
know
cancer.
H
Clutch
is
important
to
hear
about
jobs.
Well,
we
stand
there
and
you
know
the
argument
to
convert
these
plans.
Is
all
you
know:
it's
not
taking
forever.
No,
we
don't
care
about
that.
We'll
be
patient
and
wait,
but
you
know:
campbell's
soup
cells
are
double
the
price
four
blocks
away,
paying
hush
money
to
the
neighbor
next
door.
H
It
concerns
me.
That's
what
the
other
general!
I
want
to
thank
her
for
looking
at
it,
and
I
take
her
her
report
for
what
it's
worth
and
if
she
says
it's
fine,
then
it's
fine,
but
I'm
looking
from
a
different
lens,
I
was
told
600
to
700
jobs
and
I
said
from
the
get
go
to
john
libby:
that's
not
happening,
there's
not
600
center
jobs
in
the
warehouse
that
size.
Well.
Lo
and
behold,
I
met
the
new
applicant
last
week.
H
You
know
what
jobs
are
there,
200
jobs,
you
know
what
they're
paying
15
bucks
an
hour,
shame
and
I'm
I'm
blown
away
that
that
creates.
You
has
no
mandate
to
create
jobs
on
these
sites.
I
remember
council
fletcher
back
in
only
when
the
walmart
said
you
fought
that
down
there.
You
wanted
good,
paying
jobs.
I
have
it
right
here.
I
want
good
paying
jobs,
but
to
let
20
acres
go
of
prime
property.
That's
20
minutes
50
from
downtown
with
200
jobs.
H
Disgraceful,
and
I
don't
stand
by
this
deal.
We
want
jobs,
we
should
be
looking
for
good
paying
jobs,
and
I
I
went
through
the
deck
that
that
josie
scully
took
me
through
on
on
the
mandate
of
creatio
real
estate,
stewardship,
enabled
city
building.
You
know
high
impact
on
private
opportunity,
economic
development.
Well
that
didn't
happen
here
and
to
me
it's
disgraceful
200
jobs
in
20
acres,
the
christie
lands
council
fletcher
knows
very
well
about
that
staff.
Just
negotiated
on
that's
a
27
acre
site.
We
just
negotiated
3
800
jobs
on
three
acres
of
that
property.
H
A
Thank
you,
council
grimes.
I
will
ask
if
there
are
any
members
of
the
committee
that
wish
to
speak,
I
do
not
see
any
may.
I
have
a
motion
to
move
the
staff
recommendations,
which
is
to
recommend
that
city
council
receive
the
report
for
information
council
ford
moves
the
staff
recommendations,
all
those
in
favor
any
opposed.