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REPORT
FINANCE DEPARTMENT
Meeting:
GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Monday, December 11, 2006 Resolution #: GP A -L(O 7-0-6
Date:
Report #: FND-019-06
File #:
By-law #:
Subject:
CASH ACTIVITY - THIRD QUARTER OF 2006
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-019-06 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 third quarter of the year 2006, as shown on the attached
schedule; and
3. THAT Part "A" of the expenditures for the third quarter of the year be confirmed.
Reviewed bO~- ~rk,
Franklin Wu,
Chief Administrative Officer.
NT/AA/na
REPORT NO.: FND-019-06
PAGE 2
BACKGROUND AND COMMENT:
The attached schedules indicate the Corporation of the Municipality of Clarington's cash
transactions for the third quarter of 2006, the cash investment position, the taxes receivable
position and the comparative information for the month ending September 30, 2005. Statistical
information is for the third quarter of 2006.
Attachments:
Attachment A - Analysis of Revenue and Expenditures - Third Quarter of 2006
Attachment B - Continuity of Taxes Receivable - As at September 2006
Attachment C - Statistical Information - As at September 2006
Attachment D -Investments Outstanding - As at September 2006
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1 C 3A6 T (905)623-3379 F (905)623-4169
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Analysis of Revenue and Expenditures
for the Third Quarter of the Year 2006
PART "A"
Third Quarter Third Quarter
2006 2005
REVENUE RECEIVED FOR GENERAL OPERATING
AND RESERVE FUND PURPOSES:
GENERAUTAX PAYMENTS RECEIVED 42,650,074 36,950,523
LINEAR PROPERTIES 2,122,438 2,122,438
PITS & QUARRIES - LICENSE FEES 231,616 213,731
CANADIAN WASTE - RENT AND ROYALTIES 42,423
DONATION TO BIS - CLAR. MINOR LACROSSE/DARL. SOCCER CLUB 40,000 40,000
FEDERAL GAS TAX REVENUE 340,430 -
DEVELOPMENT CHARGES-MUNICIPAL 1,994,045 2,067,263
DEVELOPMENT CHARGES-REGION 2,475,672 2,709,084
DEVELOPMENT CHARGES-SCHOOL BOARD 305,418 347,547
INTEREST 1 078 961 437 153
51 238,654 44930162
USE OF FUNDS:
PAYROLL 4,796,987 4,494,586
REGION LEVY 14,093,613 21,397,375
SCHOOL BOARD LEVIES 5,029,358 -
GENERAL-INCLUDING CAPITAL EXP. 22,015 193 27 590 452
45935151 53482413
NET CASH PROVIDED (USED) 5 303 503 (8552251 \
BANK NET CASH BANK BANK
BALANCE PROVIDED BALANCE BALANCE
FINANCIAL POSITION: JUN. 30 2006 / (USED SEP.30 2006 SEP.30 2005
GENERAL FUND 14,427,301 6,739,095 21,166,396 10,730,456
RESERVE FUND 1,220,156 115,216 1,335,372 1,175,216
MUNICIPAL BOND INVESTMENTS 2,740,334 28,496 2,768,830 2,658,075
HOST COMMUNITY FUND IN TRUST 10,000,000 - 10,000,000 10,000,000
INVESTMENTS (GENERAL + RESERVE FUNDS) 53289047 (1 579 304 51,709743 52,079,912
TOTALS 81 676,838 5,303 503 86980341 76,643,659
BANK BALANCES AS AT: JULY 31 2006 JULY 31 2005 AUG. 31 2006 AUG. 31 2005
GENERAL FUND 4,905,761 6,056,060.54 5,498,583.42 5,409,750.31
RESERVE FUND 1,950,799 890,330.51 1,288,420.97 991,907.73
MUNICIPAL BOND INVESTMENTS 2 749 968 2 640 025.46 2759513.11 2649256.18
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
for the Third Quarter of the Year 2006
I June 30, 2006 SEPTEMBER SEPTEMBER
BEGINNING BALANC INTEREST TAXES PAYMENTS/ 2006 2005
I RECEIVABLE ADDED BILLED BALANCE ADJUST.***
IPREPAID TAXES I I I I I I I I
CURRENT YEAR
TAXES 7,127,568 32,775,068 39,902,636 (29,470,332) 10,432,304 8,819,689
PENALTY AND INTEREST 80,456 215,583 296 039 (124271' 171 768 148018
FIRST PRIOR YEAR
TAXES 2,338,308 56,183 2,394,491 (415,555) 1,978,936 1,779,519
PENAL TV AND INTEREST 214,821 82 979 297 800 (71 925' 225 875 192,178
SECOND PRIOR YEAR
TAXES 958,088 140 958,228 (156,857) 801,371 748,263
PENALTY AND INTEREST 155,198 33 923 189 121 147208' 141,913 135,165
THIRD & PRIOR YEARS
TAXES 883,376 0 883,376 (86,283) 797,093 917,208
PENALTY AND INTEREST 326 486 30 720 357 206 161943' 295,263 581,111
TOTAL 12 084,301 363 205 32 831,391 45,278,897 (30,434,374\ 14,844,523 13,321,151
*** Includes refunds, write-oils, 496's, etc.
NOTE 1: 2006 AND 2005 Interim Installment months: February and April
2006 AND 2005 Final Installment months: June, August and September
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
PART"C"
STATISTICAL INFORMATION
for the Third Quarter
of the Year 2006 Year to Date
Tax Certificates 289 676
Number of Properties eligible for Tax
Reqistration (see Note 1) 5 ** see Note 2
Accounts Payable Cheques Issued
#078142 to #079810 1,668 5,190
Number of Marriaqe Licences Issued 113 269
Number of Births Reqistered 2 6
Number of Deaths/Stillbirths Reqistered 102 439
Note 1: Only includes those properties whose arrears are greater than $20,000.
Note 2: Number of eligible properties for tax registration not applicable fOI
year-to-date comparison.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
INVESTMENTS OUTSTANDING
AS AT SEPTEMBER 30, 2006
PART "0"
I I FINANCIAL INVESTMENT INTEREST # OF DAYS MATURITY MATURITY
INSTITUTION COST RATE O/S VALUE DATE
GENERAL FUND
MTL 3,970,080.00 4.30% 64 4,000,000.00 Dec. 1/06
TD 996,840.00 4.29% 27 1,000,000.00 Oct. 26/06
TD 2,967,240.00 4.38% 92 3,000,000.00 Oct. 1 0/06
SCOTIA BAN 1,992,020.00 4.30% 35 2,000,000.00 Nov. 3/06
SCOTIA BAN 995,190.00 4.30% 41 1,000,000.00 Nov. 9/06
TOTAL GENERAL FUND 11"\061... -=l7or\h
v _'IV
RESERVE FUND
RBC 5,094,062.47 4.10% 1578 6,058,590.00 Oct. 01/10
RBC 999,999.54 4.20% 1941 1,244,090.00 Dec. 02/11
RBC 2,221,742.00 4.30% 1826 2,742,301.29 Sep. 18/11
RBC * 4,180,000.00 3.80% 730 4,180,000.00 June 30/07
RBC 664,993.00 4.25% 1096 753,434.00 Aug. 29/09
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 893,626.86 4.30% 89 903,000.00 Oct. 31 /06
RBC 1,500,000.00 4.10% 1827 1,833,770.00 Dec. 06/10
RBC 1,681,851.79 4.35% 1826 2,080,894.41 Mar. 06/11
RBC 776,152.23 4.35% 2059 986,467.00 Dec. 01/11
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 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 * 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 4.25% 1095 906,000.00 Sep. 29/07
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 4.00% 730 3,796,000.00 Jul. 29/07
TOTAL RESERVE FUND 40,788;$rp.!)2
TOTAL INVESTMENTS 51,
* Investment interest paid on a monthly/semi-annual/annual basis