Audit Committee - General - May 27, 2015

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Minutes from Feb 19, 2015

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1. Reports with Confidential Attachments
2. Presentations 
3. Other Business
• Auditor General’s Report - Toronto Transit Commission – Results of 2015 Follow-up of Previous Audit Recommendations (For Action) PDF file.
• Auditor General’s Report -Continuous Controls Monitoring Program – Toronto Transit Commission, 12-Month Review of Employees Overtime and Related Expenses, 2014 (For Action) PDF file
• Presentation: TTC Management Comments – Continuous Controls Monitoring Program – 12-Month Review of Employees Overtime and Related Expenses, 2014 (For Information) PDF filed
• PricewaterhouseCoopers LLP Audit Results Report on the Toronto Transit Commission Consolidated Financial Statement for the Year Ended December 31, 2014 (For Action) PDF file
• Draft Consolidated Financial Statements of Toronto Transit Commission for the Year Ended December 31, 2014 (For Action) PDF file.
• Draft Annual Report for the Toronto Transit Commission for 2014 (For Action) PDF file
• Accounts Receivable Considered Uncollectible (For Information) PDF file
• Progress Report: Auditor General’s Report – Review of TTC Bus Maintenance and Shops Department, Phase Two: Non-Revenue Fleet and Equipment Management and Maintenance (Presentation Available) (For Information) PDF file
• Progress Report: Auditor General’s Report - GPS for Non-Revenue Fleet and Equipment Management and Maintenance (For Action) (For Information) PDF file.
4. New Business
5. Correspondence

A correspondence summary will be distributed at the meeting.

A. Heisey Q.C., M. Adamson, V. Crisanti, G. De Baeremaeker (TTC Audit Committee members), J. Colle (TTC Chair), S. Carroll, D. Minnan-Wong, R. Byers (TTC Commissioners), A. Byford, (Chief Executive Officer), C. Upfold, (Deputy Chief Executive Officer and Chief Customer Officer), V. Rodo (Chief Financial and Administration Officer), G. Shortt (Chief Operations Officer), R. Leary (Chief Service Officer), S. Reed Tanaka (Acting Chief Capital Officer), J. Taylor (Chief of Staff), S. Sperling (Acting Executive Director – Corporate Communications), M. Roche (Head of Finance/Treasurer), P. Buttigieg (Director – Budgets, Costing and Financial Reporting), J. Lee (TTC Head – Materials and Procurement), J. Kennelly (Head of TTC Audit), C. Leach (Manager - TTC Audit), K. Lee (Head – Commission Services) and D. McDonald (Co-ordinator – Secretariat Services) were present.

K. Rowe (TTC Chair’s office) was also present.

C. Russell and T. Dewan and R. Lutz (PricewaterhouseCoopers) were present for item 4 and 5.

B. Romeo-Beehler, J. Shaubel and J. Ying (City of Toronto, Auditor General’s office), A. Ash (Director – Auditor General’s Office) were present for items 1, 2, 3, 8 and 9.

A. Heisey was in the Chair

Commissioner Adamson moved that the TTC Audit Committee approve the minutes of the meeting held on Thursday, February 19, 2015.

The motion by the Commissioner Adamson carried.

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1. Auditor General’s Report – Toronto Transit Commission – Results of 2015 Follow-up on Previous Audit Recommendations

The Committee adopted the recommendation in the staff report, as follows:

It is recommended that the TTC Audit Committee:

(1) Forward the Auditor General’s report to the next TTC Board meeting.

2. Auditor General’s Report – Continuous Controls Monitoring Program – Toronto Transit Commission, 12-Month Review of Employees Overtime and Related Expenses, 2014

Chair Heisey moved the following motion:

That staff be requested to report in the next 12 months on:

1. The benefits in workforce flexibility of having part-time workers;

2. The possibility of a CBA change whereby prequalification for overtime is tied to an acceptable attendance record; and 3. How the CBA can be

revised to incorporate the methods used in the Employment Standards Act to calculate total allowable overtime.

The motion by Chair Heisey carried.

The item was adopted as amended.

3. Presentation: TTC Management Comments – Continuous Controls Monitoring Program – 12-Month Review of Employees Overtime and Related Expenses,

2014

The Committee received the presentation for information.

4. PricewaterhouseCoopers LLP Audit Results Report on the Toronto Transit Commission Consolidated Financial Statements for the Year ended December 31,

2014.

The Committee adopted the recommendation in the staff report, as follows:

It is recommended that the Audit Committee:

1. Receive the report; and

2. Approve forwarding a copy of the report to the TTC Board and then to the City Clerk for appropriate handling.

5. Draft Consolidated Financial Statements of Toronto Transit Commission for the Year Ended December 31, 2014

The Committee adopted the recommendation in the staff report, as follows:

It is recommended that the Audit Committee:

1. Receive the report; and

2. Approve forwarding a copy of the approved financial statements to the TTC Board and then to the City Clerk for appropriate handling.

6. Draft Annual Report for the Toronto Transit Commission for 2014

The Committee adopted the recommendation in the staff report, as follows:

It is recommended that the Audit Committee:

1. Approve the report

7. Accounts Receivable Considered Uncollectible

The Committee received the report for information.

8. Progress Report: Auditor General’s Report –Review of TTC Bus Maintenance and Shops Department, Phase Two: Non-Revenue Fleet and Equipment

Management and Maintenance

The Committee received the report for information.

9. Progress Report: Auditor General’s Report – GPS for Non-Revenue Fleet and Equipment Management and Maintenance.

The Committee received the report for information.

The meeting adjourned at 11:30 am