Audit Committee - General - October 21, 2011

Declarations 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 Confidential Attachments (TTC Procedural By-Law Section 29 and City of Toronto Act Section 190 (2)

Nil

Minutes from July 8, 2011

Nil

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

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1. Reports with Confidential Attachments

2. Presentations

3. Other Business

1. PricewaterhouseCoopers LLP 2010 TTC Management Letter – Follow-up Report (FOR ACTION)
2. Internal Audit Report – (July – September 2011) (FOR INFORMATION)
3. Internal Audit Report – Rail – Rail Cars and Shops Department (FOR INFORMATION)
4. Internal Audit Report – Information Technology Services Department – Technical Services Section (FOR INFORMATION)
5. Internal Audit Report – Materials and Procurement Department – Purchasing and Sales Section (FOR INFORMATION)
6. Internal Audit Capital Report – Underground Storage Tank Replacement Project (FOR INFORMATION)
7. Internal Audit Capital Report – Union Station New Platform Project (FOR INFORMATION)

4. New Business

5. Correspondence

A correspondence summary will be distributed at the meeting. 

Present were Commissioners F. Di Giorgio and D. Minnan-Wong (TCTI Audit Committee), G. Webster (Chief General Manager), V. Rodo (General Secretary), D. Beecroft (Chief Auditor),  D. Dixon (Acting - General Manager – Operations), J. Sepulis (General Manager – Engineering & Construction), M. Roche (Chief Financial Officer), P. Buttigieg (Chief Accountant – Financial Services) and F. Stanois (Co-ordinator – Secretariat Services) were present.

D. Minnan-Wong was in the Chair.

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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

Confidential Attachments (TTC Procedural By-Law Section 29 and City of Toronto Act Section 190(2)

NIL

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

On the motion moved by Commissioner Frank Di Giorgio, the TTC Audit Committee approved the minutes of the meeting held on Friday, July 8, 2011.

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

NIL

2. Presentations

NIL

3. Other Business

(a) PricewaterhouseCoopers LLP 2010 TTC Management Letter – Follow-up Report

The Audit Committee:
 
1) Received the follow-up report on the Price Waterhousecoopers LLP (‘PWC’), management letter for information; and

2) Approved the forwarding of this report to a regular meeting of the Commission for information and then to the Audit Committee of the City of Toronto.

(b) Internal Audit Report (July - September 2011)

The Audit Committee received for information, the internal audit report covering the period July – September 2011.
 
Commissioner Denzil Minnan-Wong further moved that:

1. The ‘Status of Comprehensive Audits’ and ‘Status of Capital Audits’ list include information on why specific audits have not been completed;

2. Audit staff be directed to resolve any outstanding issues in the 2009-2010 work plan by the next meeting of the Audit Committee; and

3. Audit staff be directed to prioritize items in the 2010-2011 Work Plan for the next meeting of the Audit Committee.
 
The Audit Committee approved the foregoing motions.

(c) Internal Audit Report – Employment Services and Planning Development Sections

The Audit Committee received the report for information.

(d) Internal Audit Report – Information Technology Services Department – Technical Services Section 
 
The Audit Committee received the report for information.

(e) Internal Audit Report – Materials & Procurement Department – Purchasing and Sales Section

The Audit Committee received the report for information.

(f) Internal Audit Capital Report – Underground Storage Tank Replacement Project
 
The Audit Committee received the report for information.
 
(g) Internal Audit Capital Report – Union Station New Platform Project

The Audit Committee received the report for information.

4. New Business

At the request of Commissioner Minnan-Wong, the Chief General Manager gave a status update on the recent fraud incident involving a TTC employee, who has subsequently been charged by Toronto Police.

5. Correspondence

NIL

The meeting adjourned at 10:35 a.m.