Building Investment, Finance and Audit Committee (BIFAC) Meeting - September 12, 2018

Public Agenda

10:35 - Chair’s Remarks

Action: Information

Pre-read: Verbal Report

Presenter: Chair

10:40 - Consent Agenda

Approval of Public Meeting Agenda

Action: BIFAC Approval

Pre-read: Agenda

Presenter: Chair

Chair’s Poll re: Conflict of Interest

Action: Declaration

Pre-read: Agenda and Conflict of Interest Policy

Presenter: Chair

Confirmation of the Public Meeting Minutes of July 18, 2018

Action: BIFAC Approval

Pre-read: Minutes

Presenter: Chair

Business Arising from the Public Meeting Minutes and Action Items Update

Action: Information

Pre-read: Action Item List

Presenter: Chair

By-Law No. 3 – Notice of Revenue Contract

Action: Information

Pre-read: BIFAC:2018-57

Presenter: Program Manager, Development

10:45 - July 31, 2018 Internal Audit Work Plan Update

Action: BIFAC Approval

Pre-read: BIFAC:2018-50

Presenter: Manager, Internal Audit

TERMINATION

Public Meeting Minutes

The Building Investment, Finance and Audit Committee (“BIFAC”) of Toronto Community Housing Corporation (“TCHC”) held a public meeting on September 12, 2018, in the Main Floor Conference Room, 931 Yonge Street, Toronto, commencing at 10:49 a.m.

BIFAC Directors Present:

Colin Lynch, Chair

Nick Macrae

BIFAC Directors Absent:

Councillor Ana Bailão

Wendy Kelley 

Amanda Coombs (on leave of absence)

Ex-Officio Director Present:

Kevin Marshman

Management Present:

Marta Asturi, Legal Counsel and Assistant Corporate Secretary

Ismail Ibrahim, General Counsel and Corporate Secretary

Graham Leah, Vice President, Asset Management

Rose-Ann Lee, Chief Financial Officer and Treasurer

Kathy Milsom, President and Chief Executive Officer

Sheila Penny, Vice President, Facilities Management

Genevieve Segu, Manager, Internal Audit

Vincent Tong, Chief Development Officer

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 Mr. Macrae, seconded by Mr. Marshman 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 Public Meeting Minutes of July 18, 2018

Motion carried

ON MOTION DULY MADE by Mr. Macrae, seconded by Mr. Marshman 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 Mr. Macrae, seconded by Mr. Marshman and carried, BIFAC received the report for information.

Item 2E - By-Law No. 3 – Notice of Revenue Contract, BIFAC:2018-57

The General Counsel and Corporate Secretary presented the report (BIFAC:2018-57). 

Motion carried

ON MOTION DULY MADE by Mr. Macrae, seconded by Mr. Marshman and carried, BIFAC received the report for information.

Item 3 - July 31, 2018 Internal Audit Work Plan Update, BIFAC:2018-50

The Manager, Internal Audit presented the report (BIFAC:2018-50). BIFAC inquired about the status of the internal audit office, and Management confirmed that it is currently under review and an assessment will be provided at the end of the year to BIFAC. Status updates on the vacant unit turnover program and RGI continuous audit were also provided to BIFAC.

Motion carried

ON MOTION DULY MADE by Mr. Marshman, seconded by Mr. Macrae and carried, BIFAC received the report for information. 

TERMINATION

BIFAC resolved to terminate the public meeting at 10:59 a.m.