Monthly President’s Report - Toronto Community …

1 Page 1 of 4 Monthly president s Report Item 14 May 27, 2016 Board of Directors Report : TCHC:2016-28 To: Board of Directors From: president and chief executive officer (Interim) Date: May 4, 2016 Corporate Goals: Quality Homes Vibrant Communities Service Excellence Business Foundations RECOMMENDATIONS: It is recommended that the Board approve the following items as proposed in this Report : 1. Monthly president s Report (Attachment 1), as the primary performance measurement tool moving forward; 2. Reporting timelines; and 3. Reporting process. Page 2 of 4 REASONS FOR RECOMMENDATIONS: Background: Decision History At their April 27, 2016 meeting, the Board of Directors requested that management come back to the next Board meeting and indicate its ability to Report on each suggested metric and the timing of when they will start reporting the information to the Board.

2 The suggested metrics are included as Attachment 2. 1. Proposed Monthly president s Report The proposed Monthly president s Report and reporting timelines will streamline performance reporting to ensure that the Board received the right information, when they need it. The Monthly president s Report includes: Monthly and year-to-date financial results, including variance amounts; Results against targets for select performance measures; Summary statics that do not reflect performance but provide an overview of current operations and may be of interest to the Board or public; Progress on key strategic milestones, including the Mayor s Task Force (quarterly); and Progress on Corporate Workplan (semi-annually).

3 Attachment 1 is Management s proposed Monthly president s Report , including March data. It includes most of the metrics and statistics requested by the Board, as well as a few additional items that will ensure Monthly and quarterly reporting is comprehensive. 2. Proposed Reporting Timelines The Monthly president s Report will have a much faster turnaround time than the Quarterly Performance Report . As per the timelines below, it will be delivered to the Board 4 6 weeks after the current month ends (with one exception noted below). *The April data will be presented at the July 6 meeting because the sample will be considered by the Board at their May 27 meeting The 4 6 weeks gap is because: Subject matter experts require around eight business days after the end of each month to compile and verify the data needed for the scorecard.

4 Stage of Process Month Apr May Jun Jul Aug Sep Oct Month ends Apr 29 May 31 Jun 30 Jul 29 Aug 31 Sep 30 Oct 31 Report submitted to Board Jun 22 Jun 22 Jul 20 Aug 24 Sep 23 Oct 24 Nov 24 Board meeting Jul 6 Jul 6 Jul 28 Sep 14 Oct 14 Nov 14 Dec 8 Total time between end of month and Report at Board (weeks) 10* 5 4 6 6 6 5 Page 3 of 4 Some Board meeting dates are in the middle of the month, which is too quick of a turnaround to have performance data from the previous month given that meeting materials are shared with Board Members 10 days in advance. For example, to be able to have the August Report complete for the September 14 Board meeting, the Report would need to be complete by September 2.

5 3. Proposed Reporting Process An analysis of Board and Committee agendas shows that in 2015, there were over 50 quarterly reports produced by six divisions that went to the three Committees. Most of the content of these reports is then reproduced in the Quarterly Performance Report . To streamline reporting, management recommends that: 1. The April Monthly president s Report be brought forward to the Board in public session at their July 6 meeting, including any changes in metrics requested by the Board; 2. The Quarterly Performance Report (QPR) be discontinued after Q1, as its key components will be covered by the Monthly president s Report .

6 3. The Board direct Management to work with the Governance, Communications, Human Resources and Compensation Committee to rationalize Committee reports set out in the 2016 workplans to prevent duplication. 4. The Board direct Management to work with the Getting it done subcommittee to explore appropriate update frequency relative to other reports. IMPLICATIONS AND RISKS: Regular reporting on performance against the strategic plan ensures that we are on track to meeting our public commitments and organizational priorities. It is critical for the Board to understand how the company is doing compared to our commitments, where we are behind or ahead of our expectations and why, and what corrective actions are planned.

7 Performance reports create a dialogue between management and the Board that improves the way business is done and helps us improve our service to residents. The Monthly president s Report will be adapted as required to respond to our changing context and operational needs, including the development of the next strategic plan; responding to City Council s direction regarding the Mayor s Task Force; and internal capacity and systems changes. Page 4 of 4 SIGNATURE: Greg Spearn Greg Spearn president and chief executive officer (Interim) ATTACHMENT: 1. Proposed Monthly president s Report 2. Metrics requested by the Board STAFF CONTACT: Hugh Lawson, Director, Strategic Planning and Stakeholder Relations 416-981-4216