Our Office is proud of the work we do to ensure Torontonians’ tax dollars are well spent and that City programs are effectively run. This Annual Report summarizes the savings and other benefits achieved by my Office, and provides an update on what we’ll be working on in 2018.
2017 was a busy year for our Office. We issued 13 performance audit reports and five investigative reports. Our reports addressed complex issues such as management of the City’s employee benefits program, ensuring City revenues are appropriately billed and the Toronto Transit Commission’s procurement practices.
We also improved our Fraud and Waste Hotline with the addition of a 24/7 independent, live and confidential call-answer service. In 2017, staff processed 680 complaints with 1,060 allegations of fraud, waste or wrongdoing.
Since 2013, management’s implementation of our recommendations resulted in one-time and projected five-year savings of $203.1 million. Over the same period, our operating costs were approximately $23.9 million. For every dollar invested in our Office, a return of $8.5 was generated.
Equally important are the non-financial benefits which arise from our audits and investigations. These include better internal controls, improved policies and procedures, and more efficient use of City resources.
These savings and benefits would not have been achieved without the dedication, cooperation and hard work from my staff and City staff. Together, we are taking concrete steps to improve life for Torontonians.
Beverly Romeo-Beehler, CPA, CMA, B.B.A., JD, ICD.D, CFF
By the Numbers
- $8.5 return on investment
- $203 million saved since 2013
- 13 audits, 5 investigations
- 163 new audit recommendations
- 680 complaints processed via the Fraud and Waste Hotline