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Home My WebLink AboutFND-010-12 FINANCE Clarftwn REPORT Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE Date: April 23, 2012 Resolution#: 664 - - By-law#: Report#: FND-010-12 File#: Subject: ANNUAL STATEMENT FOR THE DEVELOPMENT CHARGES RESERVE FUND FOR THE YEAR ENDED DECEMBER 31, 2011 RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Report FND-010-12 be received; and 2. THAT a copy of this report be forwarded to the Ministry of Municipal Affairs and Housing. Submitted by: Reviewed by: ancy ,yl BA, CA, Franklin Wu, Direct r of Chief Administrative Officer Finance/Treasurer NT/hjl CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T 905-623-3379 REPORT NO.: FND- 010 -12 1.0 BACKGROUND 1.1 This report is provided in order to comply with Bill 98, "an Act to promote job creation and increased municipal accountability while providing for the recovery of development costs related to new growth ". Schedule "A" attached shows the activity in the Development Charges Reserve Funds for the year ended December 31, 2011. 1.2 For the year ended December 31, 2011, a total of 863 residential building permits were issued. Approximately 699 units were anticipated for 2011 in the development charge study review and update. Also, a total of 24 capital fund and 7 revenue fund projects have been financed by the Development Charges Reserve funds. 2.0 CONCURRENCE — not applicable 3.0 CONCLUSION 3.1 This is an information report provided to comply with legislative reporting requirements. CONFORMITY WITH STRATEGIC PLAN The recommendations contained in this report conform to the general intent of the following priorities of the Strategic Plan: Promoting economic development x Maintaining financial stability Connecting Clarington Promoting green initiatives Investing in infrastructure Showcasing our community Not in conformity with Strategic Plan Staff Contact: Nancy Taylor, Director of Finance/Treasurer Attachments: Schedule "A" - Development Charges Reserve Funds Statement Schedule "B" — Capital Expenditures Schedule "C" — Revenue Fund Expenses Schedule "D" — Committed Amounts from Prior Years' Budgets /Council Approvals List of interested parties to be advised of Council's decision: Municipal Finance Branch, Ministry of Municipal Affairs and Housing MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUNDS STATEMENT FOR THE 2011 YEAR SCHEDULER ` See Schedule B " See Schedule C See Schedule D 2012 Budget(includes 2012 debenture payments) Note:brackets=funds available,no brackets=shortfall Total Development Charges collected on behalf of the Region in 2011 $ 8,637,029.36 Amounts outstanding as of D-315t 2010 - Less:amounts paid to the Region 8,637,029.36 Total Development Charges due to the Region at December 31,2011 $ 580 581 582 583 584 585 586 587 GENERAL LIBRARY FIRE PROTECTION INDOOR PARK DEV.& OPERATIONS ROADS AND PARKING TOTAL GOVERNMENT SERVICES SERVICES RECREATION RELATED FACILITIES RELATED Balance as of December 31,2010 (723,699) (2,511,359) 668,280 (1,367,656) (1,559,395) (7,413,268) (113,710) (13,020,807) PLUS: Development Charge Proceeds (271,976) (666,639) (649,426) (4,165,060) (881,203) (644,448) (5,843,060) (57,347) (13,179,159) Accrued Interest Apportionment (9,193) (2,572) (32,490) (2,602) (19,608) (20,578) (107,186) (1,641) (195,871) Transfer from Reserve Fund - - - (228,246) - - - - (228,246) Transfer from Revenue Fund (5,608) (19,839) (49,398) (74,845) SUBTOTAL (281,169) (669,211) (687,524) (4,395,907) (920,651) (665,026) (5,999,644) (58,988) (13,678,121) LESS: Amount Transferred to Capital Fund' - - - - 159,952 202,710 3,266,441 - 3,529,103 Amount Transferred to Revenue Fund- 143,349 414,548 - 3,727,627 248,559 56,120 63,623 1,652 4,655,478 Repayment of Interim Financing from Reserve Funds 207,008 207,008 SUBTOTAL 143,349 621,556 3,727,627 408,511 258,831 3,330,063 1,652 8,491,589 Closing Balance as of December 31,2011 (861,520) (47,656) (3,198,883) (1,879,796) (1,965,590) (10,082,849) (171,045) (18,207,339) Committed Amounts from Prior Years"' 560,030 77,143 1,684,363 580,060 264,990 7,056,089 2,990 10,225,665 Available at December 31,2011 (301,490) 29,487 (1,514,520) (1,299,736) (1,700,601) (3,026,759) (168,055) (7,981,674) Committed Amounts from 2012 Budget"" 195,300 296,571 106,200 3,026,456 675,900 538,438 971,133 - 5,809,998 Balance remaining of Interim Financing from Reserve Funds 975,300 975,300 Balance Available for Future Needs (106,190) 326,058 (1,408,320) 4,001,756 (623,836) (1,162,163) (2,055,626) (168,055) (1,196,376) ` See Schedule B " See Schedule C See Schedule D 2012 Budget(includes 2012 debenture payments) Note:brackets=funds available,no brackets=shortfall Total Development Charges collected on behalf of the Region in 2011 $ 8,637,029.36 Amounts outstanding as of D-315t 2010 - Less:amounts paid to the Region 8,637,029.36 Total Development Charges due to the Region at December 31,2011 $ SCHEDULEB MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2011 YEAR Total Expenses D/C R/F NON D/C R/F CAPITAL EXPENSES For 2011 FINANCING FINANCING DESCRIPTION D/C - PARK DEVELOPMENT & RELATED FACILITIES Nelson Street Parkette 128,883 115,995 12,888 Eng Prks Cap R/F Penwest Parkette 4,473 4,025 335 Tax Levy 113 Mun Cap Wrks R/F ' Port Darlington Waterfront Park 38,882 34,994 3,888 Eng Prks Cap R/F Bowmanvllle Valley Bridge and Trail 5,487 4,938 549 Eng Prks Cap R/F 177,725 159,952 17,773 D/C - OPERATIONS New Equipment- 2011 Roads 166,613 138,800 15,422 Mun Cap Wrks R/F 12,391 Operations Equip R/F New Equipment- 2010 Roads 45,003 40,503 4,500 Mun Cap Wrks R/F Clerks MLEO Vehicle 26,008 23,407 2,601 Mun Cap Wrks R/F 237,624 202,710 1 34,914 D/C - ROADS AND RELATED Road reconstruction - Mearns Avenue 205,154 133,343 59,318 Tax Levy 12,493 Mun Cap Wrks R/F Road reconstruction - Green Road North- Baseline Road to Boswell Drive 287,996 287,996 - Road reconstruction - Green Road North of Stevens Road 79,897 68,711 3,995 Tax Levy 3,196 Roads Contribution R/F 3,995 Mun Cap Wrks R/F Road reconstruction - Stevens Road 58,325 58,325 - Road reconstruction - Concession Road #3 80,227 63,379 16,848 Mun Cap Wrks R/F Road reconstruction - Baseline Road- Structure 56,067 56,067 - Road reconstruction - Osbourne Road 2,615,374 794,446 171,681 Mun Cap Wrks R/F 1,649,247 Developer contribution Road reconstruction - Nash Road 501 476 25 Mun Cap Wrks R/F Road reconstruction - MIII Street Newcastle 1,049,759 1,040,773 8,986 Developer contribution Road reconstruction - MIII Street Newcastle- Clark Street to Toronto Street 621,961 578,424 43,537 Tax Levy Road reconstruction - North Scugog Court 2,584 2,300 284 Mun Cap Wrks R/F Sidewalk construction - Hwy #2, Bowmanvllle 1,486 1,486 - sidewalk reconstruction - Baseline Road 2,136 1,021 1,115 Tax Levy Street Lights - Hwy #2 Bowmanvllle 4,829 4,829 - Bowmanville Creek Erosion 324,823 170,549 71,346 Tax Levy 82,928 Mun Cap Wrks R/F Brookhill Tributary Nick Point Remedial Work 6,442 4,316 1 2,126 Mun Cap Wrks R/F 5,397,560 3,266,441 2,131,119 TOTAL CAPITAL EXPENSES 5,812,910 3,629,103 2,183,806 SUMMARY OF FINANCING: 159,952 D/C - Park Dev. & Related Facilities R/F 202,710 D/C - Operations R/F 3,266,441 D/C - Roads and Related R/F 313,015 Municipal Capital Works R/F 17,325 Engineering Parks Capital R/F 12,391 Operations Equlp.R /F 3,196 Roads Contribution R/F 179,646 Tax Levy 1,658,234 Developer contribution TOTAL FINANCING 5,812,910 3,629,103 2,183,806 SCHEDULEC MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2011 YEAR Total Expenses D/C R/F NON D/C R/F REVENUE FUND EXPENSES For 2011 FINANCING FINANCING DESCRIPTION D/C - GENERAL GOV'T Planning - Official Plan Review 66,105 59,495 3,607 Tax Levy 3,003 Prof Fees Reserve Planning Consulting - Studies 47,420 30,652 11,809 Clarington /Region Acct 'A' R/F 4,959 Prof Fees Reserve Legal- D/C Intervenor and OMB Hearing 10,633 9,570 1,063 Tax Levy Operations- Stormwater Master Plan 37,693 33,924 3,769 Mun Cap Wrks R/F Operations Master Plan 10,787 9,708 1,079 Tax Levy 172,638 143,349 29,289 D/C - LIBRARY SERVICES Contribution towards Debenture Debt- MAC Library 300,000 300,000 - Contribution towards Debenture Debt- Newcastle Library 9,000 9,000 2010 & 2011 Pending D/C Appeal 105,548 105,548 414,548 414,548 D/C - INDOOR RECREATION Contribution towards Debenture Debt- Bowmanville Indoor Soccer 1,582,762 1,582,762 - Contribution towards Debenture Debt- Newcastle Library 296,741 296,741 Contribution towards Debenture Debt- South Courtice Arena 1,194,056 1,194,056 2010 & 2011 Pending D/C Appeal 654,068 654,068 3,727,627 3,727,627 D/C - PARK DEVELOPMENT & RELATED FACILITIES 2010 & 2011 Pending D/C Appeal 248,559 248,559 248,559 248,559 D/C - OPERATIONS Operations- Unspecified Construction -Small Equipment 17,312 15,582 1,731 Mun Cap Wrks R/F Operations- Stormwater Pond Maintenace- Small Equipment 33,462 30,116 3,346 Mun Cap Wrks R/F 2010 & 2011 Pending D/C Appeal 10,422 10,422 61,197 56,120 5,077 D/C - ROADS AND RELATED Engineering Consulting - Design 127,246 63,623 63,623 Tax Levy 127,246 63,623 63,623 D/C - PARKING 2010 & 2011 Pending D/C Appeal 1,652 1,652 1,652 1,652 TOTAL REVENUE FUND EXPENSES 4,753,467 4,655,478 97,988 SUMMARY OF FINANCING: 143,349 D/C - General Goverment 414,548 D /C- Library Services 3,727,627 D /C- Indoor Recreation 248,559 D/C -Park Development & Related Facilities 56,120 D/C - Operations 63,623 D /C- Roads and Related 1,652 D /C- Parking 8,847 Municipal Capital Works R/F 11,809 Clarington /Region Acct'A'R /F 69,371 Tax Levy 7,962 Professfonal Fees Reserve TOTAL FINANCING 4,753,467 4,655,478 97,988 SCHEDULE D MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2011 YEAR COMMITTED AMOUNTS FROM PRIOR YEARS' BUDGETS /COUNCIL APPROVALS YEAR PROJECT / DESCRIPTION AMOUNT COMMITTED RESERVE FUND: D /C- GENERAL GOVERNMENT 2007 Operating 100 -50 -130- 10529 -7160 Plan - Official Plan Review 333,382 2008 Capital 110-36 -130- 83801 -7401 Operations - Master Plan 28,836 2009 Operating 100 -21- 211 -00000 -7161 D/C Study 9,093 2011 Operating 100 -14 -130 -00000 -7161 D/C Intervenor and OMB Hearing 26,430 2011 Operating 100 -36- 386 - 10210 -7160 Stormwater Master Plan 4,326 2011 Operating 100 -50 -130 -00000 -7160 Planning Consulting Studies- Hancock Master Plan - Servicing 99,000 2011 Operating 100 -42 -130- 10085 -7160 Community Services- Strategic Plan Review 45,000 2011 Operating 2011 OPG- Commitment for future Payout Upon LEED Certification 13,963 Total Commited: 560,030 RESERVE FUND: D /C- LIBRARY SERVICES 2011 Operating 100 -62 -440- 10570 -7602 Library Collection- Purchase of Add'I Resources In all Formats 77,143 Total Commited: 77,143 RESERVE FUND: D /C- EMERGENCY SERVICES 2010 Capital 110 -28- 370- 82844 -7401 Newcastle Fire Station N2 Construction 1,044,977 2011 Capital 110 -28- 281 - 82815 -7401 Bunker Gear 6,000 2011 Capital 110 -28- 388 - 82812 -7401 New Pumper 2 for Station N2 600,000 2011 Operating 2011 OPG- Commitment for future Payout Upon LEED Certification 33,386 Total Commited: 1,684,363 RESERVE FUND: D /C- INDOOR RECREATION 2010 Balance remaining of Interim Financing from Reserve Funds 975,300 Total Commited: 975,300 RESERVE FUND: D/C -PARK DEVELOPMENT & RELATED FACILITIES 2006 Capital 110 -32- 325- 83287 -7401 Waverly Road, Bowmanville - Landscape Feature Area /Plantings /Sign /Lighting 101,589 2010 Capital 110 -32- 325- 83310 -7401 Longworth Avenue & Old Scugog Road 51W Corner 19,823 2011 Capital 110 -32- 325- 83257 -7401 Bowmanvllle Valley Bridge and Trail 228,647 2011 Capital 110 -32- 325- 83340 -7401 Nelseon Street Parkette 64,420 2011 Capital 110 -32- 325- 83282 -7401 Port Darlington Waterfront Park 159,406 2011 Operating 100 -32- 325- 10120 -7160 Consulting -Park Design 6,175 Total Commited: 580,060 RESERVE FUND: D /C - OPERATIONS 2011 Capital 110 -36- 388 - 83643 -7401 New Equipment Roads - 2011 206,800 2011 Operating 100 -36- 380 - 10370 -7505 Operations- Unspecified Construction- Small Equipment 720 2011 Operating 100 -36- 380 - 10210 -7505 Operations - Stormwater Pond Maintenace -Small Equipment 24,441 2011 Operating 2011 OPG- Commitment for future Payout Upon LEED Certification 33,029 Total Commited: 264,990 RESERVE FUND: D/C - ROADS AND RELATED 2010 Capital 110 -32- 130 - 83327 -7401 D/C Study Update 16,332 2009 110 -32- 324- 83278 -7401 Hwya2 Bowmanvllle Street Lights Installation -Add'I to'08 Hwy42 Sidewalk 17,079 2005 Capital 110 -32- 330 - 83205 -7401 Longworth Avenue, Bowmanville-Reg. Rd 457 to Middle Rd - Surface Asphalt 7,680 2011 Capital 110 -32- 330 -83208 -7401 Mearns Avenue, Bowmanvllle -CPR Level Crossing to Concession Road N3 - Road Reconstruction 139,358 2011 Capital 110 -32- 330 - 83214 -7401 Nash Road- Road Construction 89,546 2004 Capital 110 -32- 330 - 83231 -7401 Longworth Avenue, Bowmanville-Liberty Street to Old Scugog Road- Collector Oversizing 44,175 2010 Capital 110 -32- 330 - 83233 -7401 Hunt Street ' 11,155 2010 Capital -110 -32- 330 - 83264 -7401 Baldwin Street 27,936 2006/2011 Capital 110 -32- 330 -83263 -7401 MITI Street- Newcastle -Hwy 401 Overpass to Clark Street- Road Reconstruction 2,830,395 2010/2011 Capital 110 -32- 330 - 83265 -7401 Clarington Boulevard, Bowmanville- Uptown to 370m north - Reimburse Collector Roads Construction 203,255 2007 Capital 110 -32- 330 -83276 -7401 Green Rd, Bowmanville - Basellne Road to Boswell Drive - Road Reconstruction / DC debt 215,858 2010 Capital 110 -32- 330 - 83286 -7401 St. George Street 8,038 2010 Capital 110 -32- 330 - 83291 -7401 Elgin Street 6,053 2007/2009 Capital 110 -32- 330 - 83296 -7401 Stevens Road, Bowmanville Extension - Road Reconstruction 210,416 2006 Capital 110 -32- 330 - 83299 -7401 Darlington Boulevard, Courtice - Road Reconstruction /Design 9,765 2007/2011 Capital 110 -32- 330 -83314 -7401 Baseline Road -Lambs Road to Bennett Road - Road Reconstruction 78,863 2008/2011 Capital 110 -32- 330 - 83319 -7401 Conconcesslon Road 03- West of Mearns Avenue - Road Reconstruction 11,872 2011 Capital 110 -32- 330 - 83320 -7401 Rudell Road Reconstruction 342,216 2010 Capital 110 -32- 330 - 83334 -7401 Osbourne Road 419,666 2010/2011 Capital 110 -32- 330 - 83356 -7401 Green Road- 635 m North of Stevens Road 819,615 2011 Capital 110 -32- 330 - 83358 -7401 North Scugog Court 917,496 2011 Capital 110 -32- 330 - 83362 -7401 Mill Street Reconstruction 255,336 2007/2008 Capital 110 -32- 331 - 83278 -7401 Hwy 02, Bowmanville- Clarington Boulevard /South Side to Green Road /North Side 45,347 2010 Capital 110 -32- 331 - 83341 -7401 Baseline Road Sidewalk 8,700 2011 Capital 110 -32- 331 - 83360 -7401 Liberty Street DC Sidewalk 30,000 2011 Capital 110 -32- 331 - 83341 -7401 Baseline Road Sidewalk- Green Road to Westside Drive 75,248 2011 Capital 110 -32- 340- 83361 -7401 Brookhill Tributary Nick Point Remedial Work 12,352 2011 Operating 100 -32 -130 -K -7167 Engineering Consulting- Design 11,377 2011 Operating 2011 OPG- Commitment for future Payout Upon LEED Certification 190,959 Total Commited: 7,056,089 RESERVE FUND: D /C - PARKING 2011 Operating 2011 OPG- Commitment for future Payout Upon LEED Certification 2,990 Total Commited: 2,990 TOTAL COMMITTED TO DEVELOPMENT CHARGES RESERVE FUNDS 11,200,965