Building Investment, Finance and Audit Committee (BIFAC) Meeting - April 11, 2019

Agenda

9:20 - Chair’s Remarks

Action: Information

Pre-read: Verbal Report

Presenter: Chair

9:25 - Consent agenda

a. Approval of Public Meeting Agenda

Action: BIFAC Approval

Pre-read: Agenda

Presenter: Chair

b. Chair’s Poll re: Conflict of Interest

Action: Declaration

Pre-read: Agenda and Conflict of Interest Policy

Presenter: Chair

c. Confirmation of the Public Meeting Minutes of February 12, 2019

Action: BIFAC Approval

Pre-read: Minutes

Presenter: Chair

d. Business Arising from the Public Meeting Minutes and Action Items Update

Action: Information

Pre-read: Action Item List

Presenter: Chair

e. Review of Board President and CEO Expenses (Annual)

Action: Information

Pre-read: BIFAC:2019-19

Presenter: Chief Financial Officer and Treasurer

f. Annual Information Return

Action: BIFAC and Board Approval

Pre-read: BIFAC:2019-20

Presenter: Chief Financial Officer and Treasurer

g. Internal Audit: 2019 Internal Audit Work Plan Revision

Action: BIFAC Approval

Pre-read: BIFAC:2019-29

Presenter: Chief Financial Officer and Treasurer

9:30 - Auditor General Development Report

Action: BIFAC and Board Approval

Pre-read: Presentation

Presenter: Auditor General

9:50 - 2018 Annual Report and Letter to the Shareholder

Action: BIFAC and Board Approval

Pre-read: BIFAC:2019-25

Presenter: President and Chief Executive Officer

TERMINATION

Minutes

The Building Investment, Finance and Audit Committee (“BIFAC”) of Toronto Community Housing Corporation (“TCHC”) held a public meeting on April 11, 2019, in the Main Floor Conference Room, 931 Yonge Street, Toronto, and via teleconference, commencing at 9:23 a.m.

BIFAC Directors Present:    

Colin Lynch, Chair 
Councillor Ana Bailão (by teleconference, disconnected at 9:45 a.m.)
Amanda Coombs (by teleconference, disconnected at 9:45 a.m.)

BIFAC Director Absent:    

Wendy Kelley 
Nick Macrae 

Management Present:    

Rose-Ann Lee, Chief Financial Officer and Treasurer
Kevin Marshman, President and Chief Executive Officer
Darragh Meagher, Interim General Counsel and Corporate Secretary
Ted Millward, Legal Counsel, Corporate
 

Also Present:

City of Toronto: Beverly Romeo-Beehler, Auditor General
Ina Chan, Assistant Auditor General
    
A quorum being present, the Chair called the meeting to order and Ms. Sonia Fung served as recording secretary.

ITEM 1 CHAIR’S REMARKS

The Chair did not present any remarks.

ITEM 2A  APPROVAL OF PUBLIC MEETING AGENDA

Motion carried ON MOTION DULY MADE by Councillor Bailão, seconded by Ms. Coombs and carried, BIFAC approved the public meeting agenda.
    
ITEM 2B DECLARATION OF CONFLICT OF INTEREST
The Chair requested members of BIFAC to indicate any agenda item in which they had a conflict of interest, together with the nature of the conflict. None was declared.

ITEM 2C CONFIRMATION OF THE FEBRUARY 12,  2019 
PUBLIC MEETING MINUTES 
Motion carried ON MOTION DULY MADE by Councillor Bailão, seconded by Ms. Coombs and carried, BIFAC approved the above-captioned minutes.

ITEM 2D BUSINESS ARISING FROM THE PUBLIC MEETING MINUTES AND ACTION ITEM LIST 
Motion carried ON MOTION DULY MADE by Councillor Bailão, seconded by Ms. Coombs and carried, BIFAC received the report for information.

ITEM 2E REVIEW OF BOARD AND CEO EXPENSES (ANNUAL) BIFAC:2019-19
The Chief Financial Officer and Treasurer presented the report (BIFAC:2019-19). 

Highlights of discussion:

• It was noted there was a significant increase in Q4 on employee expenses regarding conference and training. Staff were asked to provide more details regarding that expense.*

Motion carried ON MOTION DULY MADE by Councillor Bailão, seconded by Ms. Coombs and carried, BIFAC received the report for information.

*Post meeting note: 

A document entitled “Employee Conference Expenses – Q4 2018” was provided to members of BIFAC on April 11, 2018, after the meeting.

ITEM 2F ANNUAL INFORMATION RETURN BIFAC:2019-20

Motion carried ON MOTION DULY MADE by Councillor Bailao, seconded by Ms. Coombs, BIFAC approved the recommendations in the report and recommend to the Board of Directors to:

(1)  Approve the Annual Information Return of Toronto Community Housing Corporation for the year ended December 31, 2018; and

(2)  Authorize the appropriate staff to take the necessary actions and execute all documents as may be necessary to give effect to the   above recommendation.

ITEM 2G INTERNAL AUDIT: 2019 INTERNAL AUDIT WORK PLAN REVISION BIFAC:2019-29
Motion carried ON MOTION DULY MADE by Councillor Bailao, seconded by Ms. Coombs, BIFAC approved the recommendations in the report to recommend to the Board of Directors to: Approve the 2019 Internal Audit Work Plan Revision as presented in the attachment to Report: BIFAC: 2019-29.

ITEM 3 AUDITOR GENERAL DEVELOPMENT REPORT PRESENTATION

The Auditor General and the Assistant Auditor General made a presentation entitled: Moving Forward Together: Opportunities to Address Broader City Priorities in TCHC Revitalizations and answered questions.

Highlights of presentation:

• The presentation is based on a Report for Action issued by the Auditor General, dated March, 2019. 
• The report looked at phases within three of six projects. 
• Objective was to evaluate the extent to which revitalizations address challenges of providing public social housing and contribute to City building priorities.
• Three broad themes of audit: 
  • Revitalization: an important city-building opportunity;
  • Enhancing oversight, accountability and transparency; and
  • Enhancing procurement practices.

Highlights of discussion:

• Management thanked the Auditor General and her staff for their efforts and recommendations to further enhance the revitalization and renewal program at TCHC.
• Management noted that TCHC adopted recommendations numbered 7,8,13 through 22, and endorsed the remaining recommendations, many of which TCHC has already completed.

Quorum was lost at 9:45 a.m.

The Chair decided to have a written resolution circulated among all BIFAC members regarding approval of the Auditor General’s Report For Action and to recommend it for approval by the Board of Directors. 

ITEM 4 2018 ANNUAL REPORT AND LETTER TO THE SHAREHOLDER BIFAC:2019-25

This item was deferred.
    

TERMINATION
Public BIFAC meeting was adjourned at 9:45 a.m.

Secretary Chair, Building Investment, Finance and Audit Committee