HomeMy WebLinkAboutFND-008-10~,I~tl7llgC(Hl REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINIS~TnRATION
Date: APR 19, 2010 Resolution#: G 1` n ~ ~5~ "~~ By-law#: N~
Report: FND-008-10 File#:
Subject: REPORT ON REVENUE SENSITIVE TO ECONOMIC CONDITIONS -
JANUARY -MARCH 2010
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-008-10 be received for information.
Submitted by:
Reviewed by:
NT/hjl
6lancy~~lo~/~BA, C.A Franklin Wu,
Director of Finance/ Chief Administrative Officer
Treasurer
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T (905)623-3379
REPORT NO.: FND-008-10
PAGE 2
1.0 BACKGROUND:
1.1 At the meeting held on January 12, 2009, Council requested staff to provide by
department on a monthly reporting basis a report to Council on the variable
growth related revenue and the variable economic related revenues which could
have an adverse effect on achieving the municipal capital and current budget
targets.
2.0 CURRENT:
2.1 This report is based on the first quarter of 2010 to bring the report current period
due to time constraints. Subsequent reports will be returned to the monthly
format.
2.2 This report is for the months of January to March 2010 including the year-to-date
amounts along with prior year's amounts for comparison.
2.3 This report will look at the Building Division's revenues of the Engineering
Services department such as municipal development charges and building permit
fees revenue paid, the total of Planning Services Department's revenues such as
site plans, rezoning, condominium application fees and subdivision applications
fees revenues.
2.4 The revenue amounts reported monthly in this report are reflected in the
municipality's general ledger when paid to the municipality, ie. on a cash basis.
There will be some differences between this report and the monthly Report on
Building Permit Activity from the Engineering Department due to this timing
difference.
REPORT NO.: FND-008-10
PAGE 3
3.0 ENGINEERING SERVICES -BUILDING DIVISION REVENUE STATUS
MUNICIPAL DEVELOPMENT CHARGES
JANUARY TO MARCH
2010 2009
UNIT TYPE MUNICIPAL
DEV. CHARGES PAID NUMBER
OF UNITS MUNICIPAL
DEV. CHARGES PAID NUMBER
OF UNITS %CHANGE OF
DEV.CHGS 2010-2009
Single/Semi- Detached
-New construction $ 1,323,360.00 96 $ 418,091.00 36
-Additions $ - 0 $ - 0
Townhouse $ 168,392.00 14 $ - 0
Apartment $ 37,744.00 4 $ - 0
Commercial $ 75,428.45 2 $ - 0
Agricultural $ - 0 $ - 0
Government $ - 0 $ - 0
Institutional $ - 0 $ - 0
Industrial $ - 0 $ - 0
TOTAL $ 1,604,924.45 116 $ 418,091.00 36 283.9%
3.1 In the 2008 Development Charges Amendment Study, it is forecasted that the
municipality would be collecting approximately 85 residential units on a monthly
basis for 2010 and approximately 82 residential units on a monthly basis for
2009. For the months of January to March 2010, there were only 116 units of
the forecasted residential units of 255 being issued which equates to 45.5%. For
the months of January to March 2009 there were 36 units of the forecasted
residential units of 246 being issued which equates to 14.6%. Comparing the
number of units issued in 2010 to 2009, shows that January to March 2010 has
collected 322.2% of the units issued in January to March 2009. Per the 2008 DC
Amendment Study, 1,017 residential units are forecasted for 2010. Per the 2008
DC Amendment Study, 983 residential units are forecasted for 2009.