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REPORT
FINANCE DEPARTMENT
Meeting:
GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date:
MONDAY FEBRUARY 20, 2006
Resolution #:
Report #: FND-001-06
File #:
By-law #:
Subject:
CASH ACTIVITY - FOURTH QUARTER OF 2005
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-001-06 be received;
2. THAT in accordance with provision of Chapter 25, Section 286 of the Municipal
Act, S.O. 2001, the Treasurer reports the cash position of the Municipality of
Clarington for the fourth quarter of the year 2005, as shown on the attached
schedule; and
3. THAT Part "A" of the expenditures for the fourth quarter of the year be confirmed.
SUbmitte~bY:~ A<d~
b"'- Nancy Taylor, B.B.A., C.A.,
Director of Finance.
Reviewed bQ ~ ~
Franklin Wu,
Chief Administrative Officer.
NT/AA/hjl
REPORT NO.: FND-001-06
PAGE 2
BACKGROUND AND COMMENT:
The attached schedules indicate the Corporation of the Municipality of Clarington's cash
transactions for the fourth quarter of 2005, the cash investment position, the taxes receivable
position and the comparative information for the month ending December 31 , 2004. Statistical
information, transit revenue and expenditure and attached schedulesfor the development
charges information are for the fourth quarter of 2005.
Attachments:
Attachment A - Analysis of Revenue and Expenditures - Fourth Quarter of 2005
Attachment B - Continuity of Taxes Receivable - As at December 2005
Attachment C - Statistical Information - As at December 2005
- Transit Revenue and Expenditure - As at December 2005
Attachment D -Investments Outstanding - As at December 2005
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1C 3A6 T (905)623-3379 F (905)623-4169
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Analysis of Revenue and Expenditures
for the Fourth Quarter of the Year 2005
REVENUE RECEIVED FOR GENERAL OPERATING
AND RESERVE FUND PURPOSES:
GENERAUTAX PAYMENTS RECEIVED
PROVINCE-COMMUNITY REINVESTMENT FUNDING
CANADIAN WASTE - RENT AND ROYALTIES
DEVELOPMENT CHARGES-MUNICIPAL
DEVELOPMENT CHARGES-REGION
DEVELOPMENT CHARGES-SCHOOL BOARD
INTEREST
USE OF FUNDS:
PAYROLL
REGION LEVY
SCHOOL BOARD LEVIES
GENERAL-INCLUDING CAPITAL EXP."
NET CASH PROVIDED (USED)
FINANCIAL POSITION:
GENERAL FUND
RESERVE FUND
MUNICIPAL BOND INVESTMENTS
HOST COMMUNITY FUND IN TRUST
INVESTMENTS (GENERAL + RESERVE FUNDS)
TOTALS
Attachment A
PART "A"
13,908,936
29,000
27,264
1,699,373
2,124,815
230,839
876,708
18,896,935
4,647,142
9,533,616
6,808,270
21,959,939
42,948,967
BANK
BALANCE
SEP. 30, 2005
BANK
BALANCE
DEC. 31, 2004
10,730,456
1,175,216
2,658,075
10,000,000
52,079,912
6,848,591
2,336,437
2,576,927
10,000,000
51,267,234
73,029,188
76,643,659
BANK BALANCES AS AT: OCT. 31, 2005 OCT. 31, 2004 NOV. 30, 2005 NOV. 30, 2004
GENERAL FUND 5,660,188 7,281,948 8,725,662 7,567,018
RESERVE FUND 1,869,991 912,809 128,342 3,629,130
MUNICIPAL BOND INVESTMENTS 2,667,374 2,558,827 2,676,269 2,567,615
NOTE A: Difference in comparison between years due to timing difference in receipt of funds.
Attachment B
CORPORATION OF THE MUNICIPALITY OF ClARINGTON
Continuity of Taxes Receivable
for the Fourth Quarter of the Year 2005
Sep 30, 2005
BEG. BALANCE INTEREST TAXES PAYMENTS
RECEIVABLE ADDED BillED BALANCE /ADJUST. ***
PREPAID TAXES
CURRENT YEAR
TAXES 8,819,689 1,151,671 9,971,360
PENALTY AND INTEREST 148018 218013 366 031
FIRST PRIOR YEAR
TAXES 1,779,519 163,426 1,942,945
PENALTY AND INTEREST 192178 61 600 253 778
SECOND PRIOR YEAR
TAXES 748,263 28,313 776,576
PENAL TV AND INTEREST 135165 25 983 161 148
THIRD & PRIOR YEARS
TAXES 917,208 0 917,208
PENAL TV AND INTEREST 581 111 31 235 612346
OTAl 13321 151 336 831 1 343410 15001392
Includes refunds, write-offs, 496's, etc.
NOTE 1 : Prepayments include preauthorized
PART "B"
DECEMBER
2004
4,151,955
192 626
1,542,273
189 937
789,815
127 616
843,511
508 921
8 346 654
Attachment C
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
STATISTICAL INFORMATION
PART "e"
for the Fourth Quarter
of the Year 2005 Year to Date
Tax Certificates 197 918
Number of Properties eligible for Tax
Registration (see Note 1) 14 ** see Note 2
Accounts Payable Cheques Issued
#073035 to #075232 2,196 7,238
Transit Total Adult Ridership 10,977 39,664
Transit Total Student Ridership 27,814 92,893
Transit Total Sr.lChild Ridership 2,702 10,053
Transit Total Ridership Across Region (Durham "0' 512 1,217
Transit Total Transfers 2,030 7,218
Number of Births Registered 3 15
Number of Deaths/Stillbirths Registered 134 548
Note 1: Only includes those properties whose arrears are greater than $20,000.
Note 2: Number of eligible properties for tax registration not applicable for
year-to-date comparison.
TRANSIT REVENUE AND EXPENDITURE
for the Fourth Quarter
of the Year 2005 Year to Date
REVENUE
TRANSIT REVENUE 62,505 225,363
EXPENSES
MISCELLANEOUS OPERATING 19,169 45,262
TRANSIT CONTRACT 205,022 769,599
OPERATING (LOSS)/GAIN (161,686) (589,498'
CAPITAL EXPENDITURES 0 0
Attachment D
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
INVESTMENTS OUTSTANDING
AS AT DECEMBER 31,2005
PART "0"
FINANCIAL INVESTMENT INTEREST # OF DAYS MATURITY
INSTITUTION COST RATE O/S VALUE
MATURITY
DATE
GENERAL FUND
TOTAL GENERAL FUND
RESERVE FUND
RBC 1,425,999.88 5.11% 1913 1,851,467.00 June 01/0
RBC 1,683,100.32 5.15% 2019 2,221,035.00 Sept.15/0
RBC 1,855,574.20 5.15% 1913 2,414,000.00 June 01/06
RBC * 4,180,000.00 3.75% 365 4,180,000.00 June 30/06
RBC 495,186.85 4.00% 1171 561,500.00 Jun. 06/06
RBC 1,379,343.53 4.65% 2085 1,787,409.00 Dec. 01/08
RBC 739,938.86 3.55% 1704 869,800.00 Oct. 05/09
RBC * 1,500,000.00 4.10% 1827 1,833,770.00 Dec. 06/10
RBC 1,566,467.00 5.45% 1826 2,042,463.00 Jan.29/06
RBC 500,000.00 3.50% 1827 595,239.37 June 21/08
RBC 481,878.00 4.45% 1827 599,072.41 Mar. 04/08
RBC 868,578.00 4.10% 1098 979,853.00 Apr. 03/06
RBC * 970,000.00 3.20% 372 970,000.00 Mar. 19/06
RBC 500,000.00 6.75% 1095 578,782.97 June 21/06
RBC * 1,815,962.00 5.00% 1825 1,815,962.00 Feb. 07/07
RBC * 1,482,702.57 5.50% 1825 1,487,000.00 Feb. 13/0
RBC * 1,480,000.00 4.20% 366 1,480,000.00 Feb. 10/0
RBC 208,000.00 4.35% 1830 257,351.00 May 12/08
RBC * 550,000.00 4.00% 730 550,000.00 Oct. 14/06
RBC 1,143,285.67 3.80% 1547 1,338,742.00 Dec. 15/08
RBC 733,772.63 3.85% 1980 900,445.00 Jun. 02/10
RBC 499,999.38 4.00% 1182 567,343.00 Jul. 26/06
RBC * 2,061,000.00 4.00% 365 2,061,000.00 Dec. 03/06
RBC 1,000,000.00 4.15% 1096 1,129,738.22 Apr. 10/06
RBC 1,500,000.00 5.50% 1694 1,500,000.00 Dec. 20/07
RBC * 906,000.00 4.10% 730 906,000.00 Sep. 29/06
RBC 372,440.00 4.40% 1826 461,912.00 May 28/09
RBC 1,520,617.00 5.35% 1826 1,973,297.00 Mar.15/07
RBC 1,000,000.00 4.45% 1827 1 ,243,203.49 Aug. 09/07
HSBC 1,617,707.94 3.55% 365 1,675,136.57 Oct. 25/06
RBC 3,796,000.00 3.75% 365 3,796,000.00 Jul. 29/06
TOTAL RESERVE FUND
TOTAL INVESTMENTS
* Investment interest paid on a monthly/semi-annual/annual basis