Audit Committee - Insurance Company Limited - June 15, 2018
Meeting Info
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Agenda
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Meeting Minutes
Members
Members
- Chair Joe Mihevc
- Rick Byers
- Ron Lalonde
- Brian Leck
Declaration of Interest - Municipal Conflict of Interest Act
Nil
Education/Training (TTC Procedural By-Law Section 29(B) and City of Toronto Act Section 190 (3.1)
a.
b.
Minutes of the Previous Meeting
Business Arising Out of Minutes
a.
b.
Public Presentations
a.
b.
Notices of Motions
a.
b.
Motions Without Notice
a.
b.
Items of Which Notice has Previously Been Given
a.
b.
Items Deferred From Last Meeting to Permit Debate/Public Presentation
Nil
1. Reports with Confidential Attachments
Nil
2. Presentations
Nil
4. New Business
Nil
5. Correspondence
Present
J. Mihevc (Chair – TTCICL), R. Lalonde, R. Byers (Directors), V. Rodo (President), B.M. Leck (General Counsel), M. Cosgrove (Secretary), C. Finnerty, K. Lee (Co-ordinator – Corporate Secretariat), M. Roche, were present.
Vincent Rodo was in the Chair.
In this section
Minutes of the Previous Meeting
- TTCICL Audit Committee Meeting No. 9 – May 31, 2016
The Audit Committee reviewed and approved the minutes of the above mentioned meeting and authorized the Chair and Secretary to sign the same.
Items Deferred From Last Meeting to Permit Debate/Public Presentations
Nil
1. Reports with Confidential Attachments (Committee Of The Whole)
Nil
2. Presentations
Nil
3. Other Business
(a) PricewaterhouseCoopers LLP Audit Results – 2016
The Audit Committee received the letter from PricewaterhouseCoopers LLP expressing their opinion on the 2016 financial statements.
(b) Draft Financial Statements of TTC Insurance Company Limited For The Year Ended December 31, 2016
The Audit Committee received the draft financial statement for the year ended December 31, 2016 and recommended that the statement be forwarded to the Director’s Meeting for formal approval and to the City Manager.
(c) Appointment of External Auditors
The Audit Committee approved the following recommendations:
- Appoint PricewaterhouseCoopers LLP to perform the 2017 financial year-end audit of TTC Insurance Company Limited at a cost of $12,000 plus HST and;
- Forward this report to the Shareholders for approval.
4. New Business
Nil
5. Correspondence
Nil
The meeting adjourned at 09:59 a.m.