HomeMy WebLinkAboutFND-002-07
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REPORT
FINANCE DEPARTMENT
Meeting:
GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
MONDAY, FEBRUARY 19, 2007 Resolution #: C~Pfl- /r;) 1- 07
Date:
Report #: FND-002-07
File #:
By-law #:
Subject:
CASH ACTIVITY - FOURTH QUARTER OF 2006
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-002-07 be received;
2. That in accordance with provision of Chapter 25, Section 268 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 2006, as shown on the attached
schedule; and
3. That part "A" of the expenditures for the fourth quarter of the year be confirmed.
Reviewed b~.:J......~~~
Franklin Wu,
Chief Administrative Officer.
NT/AA/nma
REPORT NO.: FND-002-07
PAGE 2
BACKGROUND AND COMMENT:
The attached schedules indicate the Corporation of the Municipality of Clarington's cash
transactions for the fourth quarter of 2006, the cash investment position, the taxes receivable
position with the comparative information for the month ending December 31,2005 and
statistical information for the fourth quarter of 2006.
Attachments:
Attachment A - Analysis of Revenue and Expenditures - Fourth Quarter of 2006
Attachment B - Continuity of Taxes Receivable - As at December 2006
Attachment C - Statistical Information - As at December 2006
Attachment D - Investments Outstanding - As at December 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 Fourth Quarter of the Year 2006
PART "A"
Fourth Quarter Fourth Quarter
2006 2005
REVENUE RECEIVED FOR GENERAL OPERATING
AND RESERVE FUND PURPOSES:
GENERALlTAX PAYMENTS RECEIVED 18,761,617 15,032,311
FEDERAL GAS TAX REVENUE 340,430 680,859
CANADIAN WASTE - RENT AND ROYALTIES 115,653 50,037
DEVELOPMENT CHARGES - MUNICIPAL 1,482,215 849,728
DEVELOPMENT CHARGES - REGION 1,837,624 1,151,401
DEVELOPMENT CHARGES - SCHOOL BOARD 263,971 147,367
INTEREST 512,656 429,765
23,314,166 18,341,468
USE OF FUNDS:
PAYROLL 5,458,112 5,051,288
REGION LEVY 12,637,937 1,509,194
SCHOOL BOARD LEVIES 8,112,928 12,665,887
GENERAL-INCLUDING CAPITAL EXP.** 22,893,313 15,830,070
49,102,290 35,056,439
NET CASH PROVIDED (USED) (25,788,124) (16,714,971)
BALANCE BALANCE BALANCE
FINANCIAL POSITION: SEP. 30, 2006 DEC. 31, 2006 DEC. 31,2005
GENERAL FUND 21,166,396 4,488,456 6,696,420
RESERVE FUND 1,335,372 1,134,010 713,194
MUNICIPAL BOND INVESTMENTS 2,768,830 2,797,412 2,685,522
HOST COMMUNITY FUND IN TRUST 10,000,000 10,000,000 10,000,000
INVESTMENTS (GENERAL + RESERVE FUNDS) 51,709,743 42,772,339 39,833,552
OTALS 86,980,341 61,192,217 59,928,688
BANK BALANCES AS AT: OCT. 31, 2006 OCT. 31,2005 NOV. 30, 2006 NOV. 30, 2005
GENERAL FUND 6,404,249 5,660,188 5,715,276 8,725,662
RESERVE FUND 940,858 1,869,991 955,550 128,342
MUNICIPAL BOND INVESTMENTS 2,778,144 2,667,374 2,787,464 2,676,269
NOTE 1: 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 Fourth Quarter of the Year 2006
Sep 30, 2006 DECEMBER DECEMBER
BEG. BALANCE INTEREST TAXES PAYMENTS/ 2006 2005
RECEIVABLE ADDED BILLED BALANCE ADJUST""
PREPAID TAXES INote 1) 11,745,236\ 11,558,484
CURRENT YEAR
TAXES 10,432,304 1,097,566 11,529,870 (8,679,773) 2,850,097 2,843,818
PENALTY AND INTEREST 171 768 235 339 407 107 (168184) 238 923 202 318
FIRST PRIOR YEAR
TAXES 1,978,936 125,602 2,104,538 (579,106) 1,525,432 1,482,192
PENAL TV AND INTEREST 225 875 69 238 295 113 (101 177) 193 936 176 860
SECOND PRIOR YEAR
TAXES 801,371 8,187 809,558 (204,423) 605,135 612,764
PENALTY AND INTEREST 141 913 27 067 168980 (44784) 124196 117 601
THIRD & PRIOR YEARS
TAXES 797,093 - 797,093 (118,773) 678,320 578,143
PENALTY AND INTEREST 295 263 27 063 322 326 (32 650 289 676 240 560
TOTAL 14,844 523 358,707 1,231,355 16,434 585 19 928 870 6,505,715 6,254,256
... Includes refunds, write-ofts, 496's, etc.
NOTE 1: Prepaid taxes include property tax preauthorized payment program (PAP).
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
STATISTICAL INFORMATION
PART "C"
for the Fourth Quarter
of the Year 2006 Year to Date
Tax Certificates 182 858
Number of Properties eligible for Tax
Reaistration (Note 1) 28 (Note 2
Accounts Payable Cheques Issued
#079811 to #081579 1,572 6,762
Number of Marriaae Licences Issued 35 304
Number of Births Reaistered 3 9
Number of Deaths/Stillbirths Reaistered 197 636
Note 1: Only includes those properties whose arrears are greater than $20,000.
Note 2: Number of eligible properties for tax registration not applicable for
year-to-date comparison.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
INVESTMENTS OUTSTANDING
AS AT DECEMBER 31, 2006
PART "0"
I I FINANCIAL INVESTMENT INTEREST # OF DAYS MATURITY MATURITY
INSTITUTION COST RATE O/S VALUE DATE
GENERAL FUND MTL 1,995,300.00 4.29% 20 2,000,000.00 Jan. 11/07
TOTAL GENERAL FUND )...... .1;S9$i300; 00..
RESERVE FUND
RBC 5,094,062.47 4.10% 1578 6,058,590.00 Oct. 01/10
RBG 999,999.54 4.20% 1941 1,244,090.00 Dec. 02/11
RBG 2,221,742.00 4.30% 1826 2,742,301.29 Sep. 18/11
RBG * 664,993.00 4.25% 1096 753,434.00 Aug. 29/09
RBC 1,681,851.79 4.35% 1826 2,080,894.41 Mar. 06/11
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
RBG * 1,500,000.00 4.10% 1827 1,833,770.00 Dec. 06/10
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
RBG * 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 4.10% 1095 550,000.00 Oct. 14/07
RBG 1,143,285.67 3.80% 1547 1,338,742.00 Dec. 15/08
RBG 733,772.63 3.85% 1980 900,445.00 Jun. 02/10
RBG 776,152.23 4.35% 2059 986,467.00 Dec. 01/11
RBG * 2,061,000.00 4.25% 1,095 2,061,000.00 Dec. 03/07
RBC 4,180,000.00 3.75% 730 4,180,000.00 Jun. 30/07
RBG 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
RBG 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 2,500,000.00 4.30% 90 2,526,506.85 Jan. 23/07
RBC 3,796,000.00 4.00% 730 3,796,000.00 Jul. 29/07
...................... .
..4.0177.03812..
... . . ..
TOTAL RESERVE FUND .. .. . . . ...
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27123.3~f1!2 .
r 11 .0. INVESTMENTS ..4...;...<(.....:.........
* Investment interest paid on a monthly/semi-annual/annual basis