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Staff Report
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Report To: General Government Committee
Date of Meeting: February 16, 2021 Report Number: FSD-007-21
Submitted By: Trevor Pinn, Director of Finance/Treasurer
Reviewed By: Andrew C. Allison, CAO By-law Number:
File Number: Resolution#: GG-194-21
Report Subject: Annual Leasing Report - 2020
Recommendation:
1. That Report FSD-007-21 be received for information.
Municipality of Clarington
Report FSD-007-21
Page 2
Report Overview
This report complies with the Municipal Act, 2001 annual reporting requirements on leasing,
under Regulation 653/05.
1. Background
1.1 Under Ontario Regulation 635/05, the Treasurer is required to report annually to Council
the details of existing material leases including the following.
• Confirmation of compliance with the lease policy;
• Summary of material leases;
• Estimated cost of material leases;
• Impact of the leases on the financing arrangements and the debt servicing levels.
1.2 As required by the Municipal Act, 2001, Council adapted a Statement of Lease
Financing Policies and Goals in report FND-021-03, on September 8, 2003. To date
Clarington has typically chosen to purchase or debenture (if necessary), rather than use
financial lease agreements. There is no impact on long-term financing or debt service
levels of the Municipality.
2. Lease Summary
2.1 The Municipality of Clarington did not have any material leases in 2020.
3. Concurrence
Not Applicable.
4. Conclusion
It is respectfully recommended that this report on annual leasing for 2020 be received
for information in compliance with Ontario Regulation 653/05.
Staff Contact: Michelle Pick, Manager of Financial Services / Deputy Treasurer, 905-623-3379
ext 2605 or mpick@clarington.net.
Interested Parties:
There are no interested parties to be notified of Council's decision.