Audit Committee - General


Meeting Info

Date:Sunday, January 22, 2012
Start Time:1:30 PM
Location:Committee Room #3, 2nd Floor, Toronto City Hall
  • Agenda
  • Meeting Minutes

Section Title

  • Frank Di Giorgio
  • Norm Kelly
  • Denzil Minnan-Wong  

Declaration of Interest - Municipal Conflict of Interest Act

Resolution to conduct a portion of the meeting in the absence of the public (Committee of the Whole) in accordance with Section 29 of the TTC By-Law to Govern Commission Proceedings and section 190 of the City of Toronto Act

(a) Internal Audit Report – Revenue Operations
(This report contains information that involves the security of property belonging to the Commission)

Education/Training (TTC Procedural By-Law Section 29(B) and City of Toronto Act Section 190 (3.1)

Nil

Minutes of the Previous Meeting

Business Arising Out of Minutes

Nil

Public Presentations

Requests to speak must be registered in writing by 12:00 Noon of day preceding meeting day.

Notices of Motions

Nil

Motions Without Notice

Nil

Items of Which Notice has Previously Been Given

Nil

Items Deferred From Last Meeting to Permit Debate/Public Presentation

A meeting of the TTC Audit Committee was held 1:30 p.m. on Monday, January 23, 2012  in Committee Room 3, 2nd Floor, City Hall, Toronto in order to discuss business related to the Committee.

Present

Present were Commissioners F. Di Giorgio, N. Kelly and D. Minnan-Wong (TTC Audit Committee), G. Webster (Chief General Manager), A. Byford (Chief Operating Officer), V. Rodo (General Secretary), D. Beecroft (Chief Auditor), D. Dixon (General Manager – Operations), S. Ghaly (Chief Capital Officer – Engineering, Construction & Expansion), M. Roche (Chief Financial Officer), P. Buttigieg (Chief Accountant – Financial Services), S. Tippett (Superintendent – Financial Statements), A. Cassar (Supervisor – Accounting Policy & Financial Reporting), T. Baik (Chief Project Manager – Construction), O. Kobylanski (General Superintendent – Bus Maintenance), G. Shortt (General Superintendent – Plant Maintenance), J. Griffiths (City Auditor General), C. Russell and M. Walsh (PricewaterhouseCoopers) and D. McDonald (Co-ordinator – Secretariat Services) were present.

D. Minnan-Wong was in the Chair.

Declaration of Interest - Municipal Conflict of Interest Act

Nil

Resolution to conduct a portion of the meeting in the absence of the public (Committee of the Whole) in accordance with Section 29 of the TTC by-law to govern Commission proceedings and Section 190 of the City of Toronto Act

The Audit Committee waived the requirement to meet as Committee of the Whole to discuss confidential attachment re: Internal Audit Report – Revenue Operations.

Committee of the Whole Resolution

Minutes of the Previous Meeting

Commissioner F. Di Giorgio moved that the TTC Audit Committee approve the minutes of the meeting held on Friday, October 21, 2011.

Business Arising Out of the Minutes

Nil

Public Presentations

Nil

Notice of Motions

Nil

Motions Without Notice

Nil

Items of Which Notice Has Previously Been Given

Nil

Items Deferred From Last Meeting to Permit Debate/Public Presentations

1. Reports With Confidential Attachments (Committee of the Whole)

(a) Internal Audit Report – Revenue Operations

The Audit Committee:

1) Received the confidential information as set out in confidential attachment 1; and

2) Noted that the information in confidential attachment 1 remain confidential in its entirety as it contains information that involves the security of the property belonging to the commission.

2. Presentations

Nil

3. Other Business

(a) PricewaterhouseCoopers Consolidated Financial Statement Audit Plan - Year Ended December 31, 2011

C. Russell, Partner – Audit & Assurance Group, PricewaterhouseCoopers, provided a high level overview of the report.

The Audit Committee received for information, the report from PricewaterhouseCoopers (PWC) outlining their audit plan for the audit of the Commission’s consolidated financial statements, for the year ended December 31, 2011.

(b) Adoption of Public Sector Accounting Standards

The Audit Committee received for information, the report on the accounting standards that will be applicable to the Commission for the 2011 audited consolidated financial statements.

(c) Internal Audit Report (August – December 2011)

The Audit Committee received for information, the internal audit  report covering the period August – December 2011.

(d) Internal Audit Report – Bus Maintenance Department – Duncan Shop and Fleet Management

The Audit Committee received the report for information.

(e) Internal Audit Report – Plant Maintenance Department – Building Equipment, Facilities, and Plant Maintenance Engineering 

The Audit Committee received the report for information.

(f) Internal Audit Report – Birchmount Bus Garage Repair Bay Modifications Project

The Audit Committee received the report for information.

4. New Business

Chair    Minnan-Wong moved a motion that the Audit Committee recess to allow the Commissioners to meet with the City Auditor General and representatives from PricewaterhouseCoopers and to subsequently meet with TTC staff as the committee of the whole to deal with labour relations issues.

5. Correspondence

NIL

The meeting adjourned at 3:00 p.m.

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