HomeMy WebLinkAboutTR-56-93 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
REPORT
Meeting: General Purpose & Administration Committee File # YC
Date: July 19, 1993
Res. #
By-La
Report#: TR-56-93 File#: w#
Subject: 1992 AUDIT REPORT AND RELATED MANAGEMENT LETTER
Recommendations:
It is respectfully recommended that the General Purpose and
Administration Committee recommend to Council the following:
1. That report TR-56-93 be received;
2 . That the Financial Statements for the year ended December
31, 1992 (under separate cover) be adopted;
3 . That recommendations contained in the management letter be
reviewed by staff and addressed appropriately.
4 . That the firm of Deloitte and Touche be retained as the
Municipality's Auditors for the 1993 year end audit.
BACKGROUND & COMMENTS
1. 0 The 1992 year end has now been completed and a representative
of Deloitte & Touche is in attendance to present this Report.
Any queries with respect to the Audit and the Management Letter
should be directed to his attention at this time.
2 .0 Staff are continuing in their efforts to increase and improve
internal controls and the auditor's comments reflect this. The
areas identified as requiring fine tuning are areas that
previously were not able to be focused on from an audit
perspective because other areas lacked the level of expertise
that now has been achieved.
3 . 0 In 1992, report TR-6-92 recommended that the firm of Deloitte
and Touche be retained for a five year period. Council passed
the applicable by-law (copy attached as schedule A) which also
directed that the appointment be reviewed on an annual basis .
3. 1 The knowledge and expertise of Deloitte and Touche with respect
to the records and operations of the corporation adds to the
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TR-56-93 Page 2 .
efficiency of the audit and it allows valuable staff time to be
available to devote to other priorities. The value of this is
considered to be heightened for the 1993 year end as a result
of the potential social contract legislation. If staff days
available for work are reduced, the ever increasing work load
will be completed over less time. Maximization of any
available efficiencies will therefore be of considerable
benefit to the Municipality.
3.2 In addition Deloitte and Touche agreed in 1992, to keep their
fees at the same rate as the municipal mill rate in each of
the years identified. This contribution was in recognition of
the municipality's focus on the budgetary restrictions during
the current economic climate.
Respectfully submitted, Recommended for presentation
to the Committee
Marie A. Marano, H.BSc . ,A.M.C.T. Lawrence E. o seff
Treasurer Chief Administ ative Officer
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The Corporation of the Town of Newcastle
By-law 92 - 45
being a by-law to appoint an Auditor for the
Corporation of the Town of Newcastle and to
repeal By-law #74-15
WHEREAS Section 88 (1) of the Municipal Act, R.S.O. , 1980, Ch
as amended, by the Municipal Statute Law Amendment Act, 1991; g ives
Council the authority to appoint "for a term of five years or less,
one or more auditors who are licensed under the Public Accounting
Act"'
AND WHEREAS it is necessary to appoint an auditor for the
Corporation of the Town of Newcastle;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF
NEWCASTLE ENACTS AS FOLLOWS:
1. THAT Deloitte & Touche is hereby appointed auditor for the Town
of Newcastle for a term of five years, conditional on an annual
review by Council, for the fiscal years ending December 31,
1992 to December 31, 1996 inclusive.
2. By-law Number 74-15 is hereby repealed.
By-law read a first time this 10th day of February, 1992.
By-law read a second time this 10th day of February, 1992.
By-law read a third time and finally passed this 10th day of
February, 1992.
Mayor
Clerk
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