HomeMy WebLinkAboutFND-014-06
Cl~-fl1gton
REPORT
FINANCE DEPARTMENT
Meeting:
GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date:
Tuesday, September 5, 2006
Resolution #: GPA - 35:1 - Db
Report #: FND-014-06
File#:
By-law #:
Subject:
CASH ACTIVITY - SECOND QUARTER OF 2006
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-014-06 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 second quarter of the year 2006, as shown on the attached
schedule; and
3. THAT Part "A" of the expenditures for the second quarter of the year be
confirmed.
Reviewed bY:O~ ~
Franklin Wu,
Chief Administrative Officer.
NT/AA/na
REPORT NO.: FND-014-06
PAGE 2
BACKGROUND AND COMMENT:
The attached schedules indicate the Corporation of the Municipality of Clarington's cash
transactions for the second quarter of 2006, the cash investment position, the taxes receivable
position and the comparative information for the month ending June 30, 2005. Statistical
information is for the second quarter of 2006.
Attachments:
Attachment A - Analysis of Revenue and Expenditures - Second Quarter of 2006
Attachment B - Continuity of Taxes Receivable - As at June 2006
Attachment C - Statistical Information - As at June 2006
Attachment D - Investments Outstanding - As at June 2006
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 Second Quarter of the Year 2006
PART"A"
Second Quarter Second Quarter
2006 2005
~~VENUE RECEIVED FOR GENERAL OPERATING
NO RESERVE FUND PURPOSES:
GENERAUTAX PAYMENTS RECEIVED 43,269,235 42,475,563
ONTARIO MUNICIPAL PARTNERSHIP FUND (CRF) 0 67,000
DURHAM REGION - PROVINCIAL OFFENCES ACT 59,013 160,708
CANADIAN WASTE - RENT AND ROYALTIES 40,477 12,763
PROVINCE - GAS TAX 138,665 90,999
DEVELOPMENT CHARGES-MUNICIPAL 1 ,826,015 1,739,594
DEVELOPMENT CHARGES-REGION 2,472,621 2,369,210
DEVELOPMENT CHARGES-SCHOOL BOARD 340,025 257,835
INTEREST 1 825 820 828 385
49971 871 48 022 077
USE OF FUNDS:
PAYROLL 5,494,950 5,041,826
REGION LEVY 11,093,204 10,691 ,571
SCHOOL BOARD LEVIES 5,717,225 6,924,290
GENERAL-INCLUDING CAPITAL EXP." 12758766 11740608
35064145 34 398 295
NET CASH PROVIDED (USED) 14907726 13623782
BANK NET CASH BANK BANK
BALANCE PROVIDED BALANCE BALANCE
INANCIAL POSITION: MAR. 31 2006 lIUSEO JUNE 2006 JUN. 30 2005
GENERAL FUND 8,858,269 5,569,032 14,427,301 21,576,072
RESERVE FUND 751,109 469,047 1,220,156 633,482
MUNICIPAL BOND INVESTMENTS 2,712,478 27,856 2,740,334 2,630,656
HOST COMMUNITY FUND IN TRUST 10,000,000 0 10,000,000 10,000,000
INVESTMENTS (GENERAL + RESERVE FUNDS) 44 447 256 8841791 53289047 50 355 700
TOTALS 66769112 14 907726 81 676 838 85195910
BANK BALANCES AS AT:
APR_ 30 2006
APR. 30 2005
MAY 31 2006
MAY31 200
GENERAL FUND
RESERVE FUND
MUNICIPAL BOND INVESTMENTS
16,472,123
731,273
2 721 571
16,239,638
525,849
2612602
3,888,095
1,037,403
2731 102
8,634,206
535,518
2621728
NOTE A: Difference in comparison between years due to timing difference in receipt of funds.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON PART "B"
Continuity of Taxes Receivable
or the Second Quarter of the Year 2006
T March 31, 2006 JUNE JUNE
BEGINNING BALANCE INTEREST TAXES PA YMENTSI 2006 2005
RECEIVABLE ADDED BILLED BALANCE ADJUSr'"
PREPAID TAXES
CURRENT YEAR
TAXES (3,249,052) 46,348,350 43,099,298 (35,971,730) 7,127,568 7,744,753
PENAL TV AND INTEREST 20 382 122 958 143 340 . {62 884' 80 456 72 506
FIRST PRIOR YEAR
TAXES 2,916,343 0 2,916,343 (578,035) 2,338,308 2,269,954
PENAL TV AND INTEREST 204 837 102132 306 969 ' (92148' 214821 184019
SECOND PRIOR YEAR
TAXES 1,141,554 0 1,141,554 (183,466) 958,088 969,367
PENALTY AND INTEREST 166081 40 423 206 504 ' '51306 155198 138 872
I.-HIRD & PRIOR YEARS
TAXES 976,121 0 976,121 ~~2,745) 883,376 1,106,153
PENALTY AND INTEREST 322 876 33 735 356611 30125 326 486 581 802
L-OTAL 2499142 299 248 46 348 350 49146740 137 062 439 12084301 13067426
".. Includes refunds, write-effs, 496'5, etc.
NOTE 1: 2006 AND 2005 Interim Installment months: February and April
2006 AND 2005 Final Installment months: June and September
NOTE 2: Current year taxes open in a negative position because they represent prepaid taxes for the April installment.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
PART "C"
STATISTICAL INFORMATION
for the Second Quarter
of the Year 2006 Year to Date
Tax Certificates 195 387
Number of Properties eligible for Tax
Registration (see Note 1) 7 .. see Note 2
Accounts Payable Cheques Issued
#076502 to #078141 1,640 3,522
Number of Births ReQistered 2 4
Number of Deaths/Stillbirths Reoistered 161 337
Note 1: Only includes those properties whose arrears are greater than $20,000.
Note 2: Number of eligible properties for tax registration not applicable 101
year-to-date comparison.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
INVESTMENTS OUTSTANDING PART "0"
AS AT JUNE 30, 2006
FINANCIAL INVESTMENT INTEREST # OF DAYS MATURITY MATURITY
INSTITUTION COST RATE O/S VALUE DATE
GENERAL FUND TD 1,957,803.57 4.25% 14 1,961,000.00 J ul. 6/06
TD 4,995,950.00 4.25% 7 5,000,000.00 Jul. 5/06
SCOTIABANK 4,988,250.00 4.30% 20 5,000,000.00 J ul. 6/06
TOTAL GENERAL FUND
RESERVE FUND RBC 776,152.23 4.35% 2059 986,467.00 Dec. 1/11
RBC 1,683,100.32 5.15% 2019 2,221,035.00 Sep1.15/06
RBC . 4,180,000.00 3.80% 365 4,180,000.00 June 30/07
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 1,500,000.00 Dec. 06/10
RBC 1,681,851.79 4.35% 1827 2,080,894.41 Mar. 06/11
RBC 500,000.00 4.00% 1827 595,239.37 June 21/08
RBC 481,878.00 4.45% 1827 599,072.41 Mar. 04/08
RBC . 970,000.00 3.50% 1102 970,000.00 Mar. 19/07
RBC . 1,815,962.00 5.00% 1825 1,815,962.00 Feb. 07/07
RBC . 1,480,000.00 4.30% 1096 1,480,000.00 Feb. 10/07
RBC 208,000.00 4.35% 1830 257,351.00 May 12/08
RBC . 550,000.00 4.00% 730 550,000.00 Ocl. 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 J ul. 26/06
RBC . 2,061,000.00 4.00% 730 2,061,000.00 Dec. 03/06
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 Ocl. 25/06
RBC 3,796,000.00 3.75% 365 3,796,000.00 Jul. 29/06
RBC 5,094,062.47 4.10% 1578 6,058,590.00 Ocl.l/l0
RBC 1,011,749.34 4.02% 92 1,022,000.00 Jul. 4/06
RBC 659,152.80 4.40% 61 664,000.00 Aug. 28/0
TD 1,485,030.00 4.00% 92 1,500,000.00 Jul. 5/0
TOTAL RESERVE FUND
TOTAL INVESTMENTS
. Investment interest paid on a monthly/semi-annual/annual basis