Audit Committee - General


Meeting Info

Date:Monday, July 28, 2014
Start Time:1:30 PM
Location:Committee Room #3, 2nd Floor Toronto City Hall
Meeting No:Nil
  • Agenda
  • Meeting Minutes

Members

  • John Parker
  • Maureen Adamson
  • Alan Heisey  

Declaration of Interest - Municipal Conflict of Interest Act

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

  1. Reports with Confidential Attachments
  2. Presentations
  3. Other Business
  4. New Business
  5. Correspondence

A correspondence summary will be distributed at the meeting.

A meeting of the TTC Audit Committee commenced at 1:40 pm on Tuesday, July 29, 2014 in Committee Room #3, 2nd Floor, City Hall, Toronto in order to discuss business related to the Committee.

Present

J. Parker and A. Heisey Q.C. (TTC Audit Committee), V. Rodo (Chief Financial and Administration Officer), J. Kennelly (Head of Audit), M. Roche (Head of Finance and Treasurer) and D. McDonald (Co-ordinator – Secretariat Services) were present.

A. Creazzo (Head of Operations Control) was present for item 3(c).

J. Parker was in the Chair

Interest - Municipal Conflict of Interest Act

Nil

Minutes of Previous Meetings

Commissioner Heisey moved that the TTC Audit Committee approve the minutes from the meeting held on Monday, May 12 and the meeting held on Wednesday, May 28, 2014.

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

Nil

1. Reports with Confidential Attachments (Committee Of The Whole)

Nil

2. Presentations

Nil

3. Other Business

(a) PricewaterhouseCoopers LLP 2013 Management Letter Follow-up Report

The Audit Committee:

1) Received the attached follow-up report on the PricewaterhouseCoopers LLP (PWC) management letter, for information, and

2) Approved the forwarding of the attached report to a regular meeting of the TTC Board for information and then forward this report to the
City Clerk for appropriate committee referral.

(b) TTC Audit Department Report - Quarterly Report Update for the Period April - June 2014

The Audit Committee received the report for information nothing that future reports will incorporate associated risks within the audit resource section of the report.

Committee of the Whole Resolution

Commissioner Heisey moved that the Board recess as the Committee of the Whole to deal with labour relations or employee negotiation matters.

The motion by Commissioner Heisey carried.

Reconvened

Meeting re-opened in public - 2:35 pm

(c) TTC Audit Report - Payroll Exception Reporting - Operator Overtime

A discussion took place regarding current changes that are being implemented as well as changes for future consideration. Upon conclusion of the discussion, the Audit Committee received the report for information.

(d) TTC Audit Report - Presto Card User Entity Controls, Strategy and Customer Experience Group Farecard Team
After considerble discussion concerning access to source data to enable auditing and verification of records, the Audit Committee received the report for information noting that it would be benifical to provide a briefing to the TTC Board (especially the private members) outlining where we stand and what we are up against with Presto.

4. New Business

Nil

5. Correspondence

Nil

The meeting adjourned at 3:00 pm

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