Audit Committee - General


Meeting Info

Date:Tuesday, November 17, 2009
Start Time:10:30 AM
Location:TTC Head Office - 1900 Yonge Street, 7th Floor Executive Boardroom
  • Agenda
  • Meeting Minutes

Members

  • Adam Giambrone
  • Anthony Perruzza
  • Bill Saundercook  

Declaration of Interest - Municipal Conflict of Interest Act

Nil

In-Camera Resolution

Nil

Minutes of the Previous Meeting

Business Arising Out of Minutes

Nil

Business Arising Out of Minutes

Nil

Public Presentations

Nil

Reports with Confidential Attachments

Nil

A meeting of the TTC Audit Committee was held on Wednesday, November 18, 2009 commencing at 10:40 a.m. in Committee Room “F”, 2nd Floor, City Hall, Toronto in order to discuss business related to the Commission.

Present

Present were B. Saundercook, A. Giambrone and A. Perruzza (TTC Audit Committee), Commissioner J. Mihevc, G.M. Webster (Chief General Manager), R. Cornacchia (General Manager – Operations), J. Sepulis (General Manager – Engineering & Construction), R.G. Beecroft (Chief Auditor), M. Roche (Chief Financial Officer), J. Kennelly (Audit Manager), A. Ash (Director – Auditor General’s Office) and A. Patrone (Acting Coordinator – Secretariat Services) were present.
 
B. Saundercook was in the Chair.

J. O’Grady (Chief Safety Officer) was present for Items No. 1 to 5.

Declaration of Interest - Municipal Conflict of Interest Act

Nil

In-Camera Resolution

Commissioner Saundercook moved that the TTC Audit Committee approve a resolution to meet in-camera on Wednesday, November 18, 2009 to deal with litigation or potential litigation matters, labour relations or employee negotiations and to receive advice which is subject to solicitor-client privilege.  

Minutes of the Previous Meeting

Commissioner Saundercook moved that the TTC Audit Committee approve the minutes of the meeting held on Tuesday, July 14, 2009. 

Business Arising Out of the Minutes

Nil

Public Presentations

Nil

Reports with Confidential Attachments (Committee of the Whole)

Nil

Other Business

2. Infrastructure Peer Review – PRESENTATION

As the presentation from Rick Cornacchia was of a confidential nature, Commissioner Saundercook moved, and the Audit Committee agreed, that the Committee move in-camera to receive the presentation.

Commissioner Giambrone requested that staff look into possibly reporting more publically on this information and if that was not feasible, that the Commission be briefed on this issue at an in-camera meeting. The Audit Committee approved the foregoing.

Upon completion of the presentation, Commissioner Saundercook moved, and it was agreed, that the committee move out of the in-camera session to deal with further business.

3. Internal Audit Report (July – September 2009)

The Audit Committee received for information the Internal Audit Report covering the period July – September 2009.

4. Internal Audit Report – Support Services – Training
and Support Services Department  

The Audit Committee received the report for information.

5. Internal Audit Report Safety Department – Quality Assurance
& Engineering/Field Operations/System Safety Reporting

The Audit Committee received the report for information.

6. Internal Audit Capital Report – System Security/Safety
Upgrades Project

The Audit Committee received the report for information.

7. Internal Audit – Long Range Plan (2010 – 2014)

The Audit Committee approved the internal audit long range plan (2010 – 1014).

At the request of Commissioner Mihevc, the Committee requested that Dick Beecroft bring forward to the next Audit Committee meeting a report indicating that the Wheel-Trans contract audit will take place in 2010 rather than the planned 2011.

8. Internal Audit – 2010 Departmental Goals and Objectives

The Audit Committee approved the Internal Audit 2010 Departmental Goals and Objectives.

9. Accounting Standards Applicable to the Toronto Transit
Commission effective 2011

The Audit Committee received the foregoing report related to a change in the accounting standards that will be applicable to the commission in 2011.

10.Status Update – Wheel-Trans Customer Service and Planning Audit

The Audit Committee received the report for information.

11. Status Update – Purchase of Non-Revenue Vehicles

The Audit Committee received the report for information.

12. Status Update – Streetcar Way Process

The Audit Committee received the report for information.

13. New Business

NIL

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