Audit Committee - Toronto Coach Terminal Inc - April 19, 2011

Present were F. Di Giorgio N. Kelly and D. Minnan-Wong  (TTC 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), M. Atlas (Senior Solicitor), T. Andrews (Chief Special Constable), D. Garisto (Manager – Property Development) S. Tippett (Superintendent – Financial Statements), J. Griffiths (City Auditor General) C. Russell and M. Walsh (PricewaterhouseCoopers) and F. Stanois (Co-ordinator – Secretariat Services) were present.

D. Minnan-Wong was in the Chair.

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F. Di Giorgio moved that the TCTI Audit Committee approve the minutes of the meeting held on Monday, June 21, 2010.

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The Audit Committee:

1. Approved the draft financial statements of Toronto Coach   Terminalinc. (“TCTI”) for the year ended December 31, 2010, and
2. Approved the forwarding of the financial statements to the special meeting of directors of TCTI on June 21, 2011 for formal approval.

2. PricewaterhouseCoopers Audit Results Report on the Toronto Coach Terminal Inc. Financial Statements for the Year Ended December 31, 2010

The Audit Committee:

1. Received the foregoing report from pricewaterhousecoopers regarding the audit results and required communications of the financial statements of the Toronto Coach Terminal Inc., for the year ended December 31, 2010, for information; and
2. Approved the forwarding of the foregoing report to the special meeting of directors of TCTI on June 21, 2011.

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The meeting adjourned at 11:16 a.m.