HomeMy WebLinkAboutCAO-20-003 - Kitchener Power Corporation - Annual Business Matters
REPORT TO: Special Council
DATE OF MEETING: May 11, 2020
SUBMITTED BY: Dan Chapman, Chief Administrative Officer, 519-741-2200 x 7350
PREPARED BY: Linda Korabo, Executive Assistant, 519-741-2200 x 7092
WARD (S) INVOLVED: N/A
DATE OF REPORT: April 20, 2020
REPORT NO.: CAO-20-003
SUBJECT: Kitchener Power Corporation Annual Business Matters
___________________________________________________________________________
RECOMMENDATION:
THAT the audited financial statements of Kitchener Power Corporation for the year ended
December 31, 2019 as audited by KPMG, LLP, and attached to report CAO-20-003, be
received; and further,
THAT KPMG, LLP, be appointed as Auditors of Kitchener Power Corporation for the
ensuing fiscal year and Directors are authorized to set their remuneration.
BACKGROUND:
The purpose of this report is to enable Council to consider routine annual business matters
related to Kitchener Power Corporation, including the receipt of the audited financial statements
and the approval of auditors for the 2020 fiscal year.
REPORT:
audited financial statements and approval of the shareholders for the appointment of auditors
for the ensuing fiscal year.
The 2019 financial statements have been
information. In addition, the Board of Directors of Kitchener Power Corporation has
recommended that KPMG LLP be retained for another year as auditors of the corporation.
The 2019 Annual Report of Kitchener-Wilmot Hydro has been circulated separately for
information purposes.
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994 for assistance.
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
the delivery of core service.
FINANCIAL IMPLICATIONS:
None at this time.
COMMUNITY ENGAGEMENT:
INFORM
council / committee meeting.
ACKNOWLEDGED BY: D. Chapman, CAO
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