Waterfront Toronto is committed to rigorous public reporting that supports accountability and transparency and helps us deepen our impact.
We aim to create clear, approachable reports that inform readers about our work and the difference it makes for Toronto, Ontario and Canada. We also work to meet or exceed leading practices in corporate reporting and transparency by continually refining our processes and systems to ensure that we’re able to generate the greatest possible public benefit with the resources entrusted to us.
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Annual Reports and Corporate Plans
Waterfront Toronto has a record of creating award-winning projects that are embraced by the public and prove their value over time. We rigorously track and report our progress, working steadily to ensure that our results on the waterfront remain tightly connected to the goals and targets we’ve set with our stakeholders.
Rolling Five-Year Strategic Plan and Annual Corporate Plans
Our Rolling Five-Year Strategic Plan 2022/23 - 2026/27 is a guiding document that outlines the exciting work that is currently underway on the waterfront and sets the strategic direction for the corporation over the next five years. Within this document is our Annual Corporate Plan, the first year of our five-year plan which highlights what we will accomplish in the short-term beginning April 1st as well as our aspirational goals for the future.
Integrated Annual Report
Connecting sustainability with complete communities and a strong economy is vital in creating a thriving waterfront and city that can be enjoyed for generations. In our 2020-21 Integrated Annual Report, we provide an update on our revitalization efforts over the past year ending March 31st using ESG (environmental, social governance) considerations based on leading frameworks such as the Global Reporting Initiative (GRI) and the United Nations Sustainable Development Goals (SDGs). Through these metrics and our own, we highlight how our projects are building connections that characterize thriving cities, including physical, social, economic as well as intangible connections.
Our financial statements are prepared in compliance with all relevant legislation and in accordance with Canadian public sector accounting standards established by the Chartered Professional Accountants of Canada.
The financial statements are audited by independent external auditors appointed by the Board of Directors. The financial statements accompany an Auditors’ Report which outlines their responsibilities, the scope of their examination and their opinion on the Corporation’s financial statements. These are published by June 30th each year to meet our requirements to complete and publish our annual, audited financial statements within 90 days of the Corporations year-end.
Disclosure of Board and Management Expenses
The public disclosure of expenses is an important part of the Ontario government’s commitment to protect taxpayer dollars, improve transparency and increase accountability. Every publicly funded organization that receives provincial funding in excess of $10 million must disclose expenses for travel, meals and hospitality.
The rules and principles governing travel are outlined in the Travel, Meal and Hospitality Expenses Directive. The purpose of these directives is to provide for the reimbursement of reasonable expenses necessarily incurred during travel on government business.
Expense disclosures are updated quarterly and provide a summary of expenses incurred within Waterfront Toronto by the Board of Directors, President and Chief Executive Officer and the Senior Management Team.
Open meeting requirements for Board and committee meetings are set forth in the Toronto Waterfront Revitalization Corporation Act, 2002, and, the Waterfront Toronto Board of Directors have enacted By-law #2, which sets out the applicable policies and procedures. Meeting agendas are posted on the corporation's website prior to each meeting and meeting minutes are posted once they are approved.
All materials relating to the open portions of Board and committee meetings are also posted on the Corporation's website.
You can view our policies and guidelines on issues such as Codes of Conduct, Gifts, Disclosures, Procurement, Public Board Meetings, Design Review Panel By-Laws and many others.
These have been established without any legal requirements to do so, demonstrating that transparency and public access to information is not a matter of compliance for Waterfront Toronto, but in fact a key part of how the corporation conducts its business.