Council
Conseil
17 June 2010 / le 17 juin 2010
Submitted by/Soumis par : Alain Lalonde, Auditor General/Vérificateur
général
Contact
Person/Personne ressource : Alain Lalonde, Auditor General
(613) 580-2424
x14226, Alain.Lalonde@ottawa.ca
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Ref N°: ACS2010-OAG-BVG-1 |
SUBJECT:
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OFFICE OF THE
AUDITOR GENERAL - 2010 AUDIT OF THE LANSDOWNE PARK PROPOSAL FINANCIAL MODEL |
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OBJET :
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BUREAU DU VÉRIFICATEUR GÉNÉRAL - VÉRIFICATION DE 2010 DU modèle
financier DE la PROPOSITION CONCERNANT LE PARC LANSDOWNE |
That Council receive the attached report: 2010 Audit of the Lansdowne Park Proposal
Financial Model as a supplementary report to the Lansdowne Park Proposal
Implementation Report.
Que le
Conseil prenne connaissance du rapport ci-joint : Vérification de 2010 du
modèle financier de la proposition concernant le Parc Lansdowne en temps que
rapport complémentaire au Rapport de la mise en oeuvre de la proposition du
Parc Lansdowne.
At its meeting of 9
November 2009 Council approved the following recommendation from the City
Manager:
That a final review of the financial projections of the LPP is completed and that the Office of the Auditor General provides Council with a supplementary report on the accuracy of these forecasts as well as the reasonableness of the assumptions used…
At the same meeting Council also approved the following motion:
Moved by Councillor C. Doucet
Seconded by
Councillor A. Cullen
WHEREAS dedicating taxes from development to a specific project is
not a standard City practice;
AND WHEREAS this will set a precedent that subsidizes one group of
retailers versus others;
THEREFORE BE IT RESOLVED that the City Manager be instructed to
commission an independent study to evaluate the various consequences of
dedicating property taxes to a single expenditure in the City’s Budget, and the Auditor General verify the methodology.
The independent study referred to in Motion 77/11 was not completed by management. As such, the Auditor General could not verify the methodology.
The attached report presents the results
of the Audit of the Lansdowne Park Proposal Financial Model.
Consultation with
management occurred throughout the audit.
Document 1 – Office of the Auditor General –
Audit of the Lansdowne Park Proposal
Financial Model.
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