Financials

Financial Report
Fiscal 2020-2021


Community Living Toronto (CLTO) has remained focused on our mission and fiscally strong over the last year of the COVID-19 pandemic. Our commitment to quality services, maximum impact, and sound stewardship of public and donated funds remained central to all activities and initiatives.

Total revenue for fiscal year 2020-21 was $106.6 million. Approximately 80% of this revenue came from the Ministry of Children, Community and Social Services (MCCSS). The balance was provided by the City of Toronto, the United Way of Greater Toronto, our fundraising efforts, fee for service programs, and entrepreneurial ventures. Our total expenses were $101.5 million.

CLTO is grateful for the financial support provided by MCCSS as part of the provincial effort to fight the COVID-19 pandemic. In addition to the sector stabilization funding of $1.8 million, the Government of Ontario also provided pandemic-specific supports to developmental services sector agencies across the province. This included $2.4 million received through the COVID-19 Residential Relief Fund and $5.5 million through two separate initiatives starting in April through to March 31, 2021 to provide supplementary pandemic pay and frontline temporary wage enhancements to frontline staff. The additional funding provided by the Ministry has been essential to our ability to keep the people we support and our staff safe through the pandemic, including increased overtime spending due to longer shifts, higher cleaning costs, and purchasing critical Personal Protective Equipment.

The federal government has also supported CLTO through the pandemic. Over the summer, we applied for the Canada Emergency Wage Subsidy, a program meant to help employers weather the economic storm caused by COVID-19. CLTO received $2.4 million from the federal government through this initiative to support Shadow Lake and other non-funded programs to offer virtual programs and consequent increases in staffing costs.

In 2020-21, CLTO completed the renovation of our new site at the East Mall. We intend to move our Etobicoke Regional Office and existing programs from Judson into our new site over the coming months.

GroundWorks Solutions Toronto Inc. (GWS), a wholly owned, profit-oriented subsidiary, was incorporated on May 25, 2020 for the purpose of generating income for CLTO through various initiatives. On July 15, 2020, GWS and a third-party established StockABLE as a social enterprise partnership to meet Personal Protective Equipment and infection prevention and control needs for the developmental services sector. All proceeds generated by StockABLE and other GWS ventures will be directed to supporting people with intellectual disabilities.  In 2020-21, GWS generated a net profit before tax of $77 000. In addition, CLTO received a sizeable donation of $80 000 from GWS.

As noted last year, we continue to implement our transition to the CAAT Pension Plan. The remaining Pension Transfer Price of $4.7 million plus accrued interest was repaid over 2020-21.  An additional $894 000 has been accrued as a true-up expense for additional liabilities incurred during the year. For MCCSS funding reporting purposes, pension costs are only deemed an admissible expense when paid. In the audited financial statements, this resulted in a deficit when accrued for fiscal year 2019-20 and a surplus when paid from reversal in fiscal 2020-21.

Financial results for CLTO are prepared by staff and fairly presented in accordance with Chartered Professional Accountant practice guidelines. These financial results have been audited by our external auditors at KPMG. Audited financial statements, the Auditor’s Report, and notes pertaining to our financial statements are available upon request through the CLTO Executive Office at 20 Spadina Rd.

The past few months have been challenging for everyone at CLTO as we have worked diligently to keep the people we support and our staff safe through the COVID-19 pandemic. We have emerged from the last year stronger, more resilient, and ready for what the coming year may bring. As we anticipate widespread vaccination and the end of the pandemic, we look forward to calmer and brighter days ahead.

Signature
Susan McCloy
Treasurer
Signature
Betty Yam
Chief Executive Officer
Susan McCloy
Treasurer
Betty Yam
Chief Financial Officer