HomeMy WebLinkAboutFND-011-12 Clarington REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date: MAY 7, 2012 Resolution#: *`` 1 y-law#:
Report#: FND-011-12 File#:
Subject: FINANCIAL UPDATE AS AT MARCH 31, 2012
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-011-12 be received for information.
Submitted by: Reviewed by:
Nancy aylor BA, CA. Franklin Wu,
Director of Finance/ Chief Administrative Officer
Treasurer
NT/CC/hjl
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T 905-623-3379
REPORT NO.: FND-011-12 PAGE 2
1.0 BACKGROUND AND COMMENT
1.1 The financial update report has been designed to focus on overall budget
variance reporting.
2.0 FIRST QUARTER OF 2012 RESULTS
2.1 Attachment "A", The Summary of Operating Expenditures and Revenue
statement compares the Municipality's budget to actual posted expenditures as
of March 31, 2012. The statement reflects the Municipality's operating budget
only and excludes year to date expenditures for the consolidated hall/arena
boards. Net year to date expenditures as of March 31, 2012 totaled $15,979,915
which represents 32.24% of the total 2012 budget.
2.2 Attachment "A" is intended to provide an indication of the status of the
Municipality's operating accounts compared to the approved budget as at March
31, 2012. Many departments are affected by high levels of activity during
specific times of the year. For example, some activities are seasonal in nature,
such as ice rentals and winter control which result in a fluctuation of the timing of
recognition of revenue and expenses. The budget is allocated monthly based on
the 2011 actual monthly distribution. In cases where there is no prior year
history, the monthly budget allocation is divided equally over the 12 months.
While this is best method available to be reflective of seasonal trends, there may
be some variations from year to year. Due to these timing differences, this
statement cannot be used in isolation.
2.3 In general, the operating budget is overall on target. As of March 31, 2012 the
net year to date expenditures are at 91.37% of the first quarter budget. Some of
the variances can be attributed to the timing differences in revenue and
expenditures between 2011 and 2010. As this is the first quarter analysis, it may
be premature to extrapolate the figures and percentages to future quarters.
2.4 The Non-Departmental revenues are below the quarterly budget at 51.17%. This
is attributable to timing of interest payments on investments. The investment
interest revenue has been allocated evenly over the twelve months. As shown in
Attachment "C" the investment maturities vary from year to year. Over the year
this investment interest will be more in line with the budgeted amount.
2.5 Overall, the operating budget is on target for the Mayor and Council as well as
the CAO's office. The Mayor and Council expenditures are 87.52% of the first
quarter 2012 budget. The CAO's office is at 96.82% of the first quarter 2012
budget.
REPORT NO.: FND-011-12 PAGE 3
2.6 As of March 31St, the Legal expenditures are 103.39% of the first quarter 2012
budget. Revenue is less than budgeted at 40.67% however the timing of
revenue does not match the previous year. As the year progresses, the revenue
should improve.
2.7 Both Corporate Services and Clerk's net expenditures are in line with the first
quarter budget at 89.28% and 93.90% respectively. As of the first quarter,
revenues are slightly higher than budgeted. This is most likely due the timing
differences between 2011 and 2012 revenues.
2.8 The Finance net expenditures are at 157.42% of the first quarter 2012 budget.
The Finance revenues are higher than the annual budget at 134.48% as of
March 31, 2012. This is due to the higher than budget amount of the fines and
penalties on taxes. The year to date figures of 2012 ($384,747) is higher than
budgeted amount for the first quarter ($281,915) but are slightly lower than the
2011 interest and penalties ($418,859). This is a reflection of the success in the
collection of outstanding taxes. The increase in expenditures is attributable to
the timing of insurance premiums_for the time period of January to June 2012.
Over the second quarter this will be closer to the budget amount.
2.9 The Emergency Services net expenditures are in line with the first quarter 2012
budget figures. As of March 31, 2012 year to date expenditures represents
89.72% of the total 2011 budget. Revenues are above budget due to increase
in general revenues such as permits and fire loss reports.
2.10 The Engineering Department net expenditures are $218,029 or 33.3% as of
March 31, 2012 budget. This favourable percentage can be attributed to the
building permit revenue in the first quarter of 2012. Also a factor is that in 2011,
the actual transactions had an increase in building permit revenue at the end of
the year. This would affect how the budget is dispersed monthly in 2012 as
noted in note 2.2. Over the year this figure should be closer to the budgeted
amount.
2.11 The Operations Department net expenditures are $2,816,661 or 85.42% of the
2012 first quarter budgeted amount. The Fleet expenditures are currently below
the budgeted amount. It is important to note that most adjustments to these
accounts are made at year end. Operating expenditure (not including debenture
and fleet) are overall in line with the 2012 first quarter budget at 86.23%. An
increase in revenue, 190.92% as of March 31, 2012 is due to an increase in
entrance culverts fee.
REPORT NO.: FND-011-12 PAGE 4
2.12 Community Services net expenditures are 92.36% of the first quarter budget.
Revenues are at 98.23% and total expenditures are at 94.10% as of March 31,
2012.
2.13 The Planning Department net expenditures as of March 31, 2012 are 93.36% of
the 2012 first quarter budget. Both revenue and expenditures are in line with the
budget as of March 31, 2012 at 101.75% and 93.84% respectively.
2.14 Attachment "B", Continuity of Taxes Receivable for the three months ending
March 31, 2012 provides the status of the taxes billed and collected by the
Municipality of Clarington during the first quarter of 2012. A total of$33,242,550
in interim tax bills were issued to property owners in the Municipality during this
period. At the end of March 2012, a total of$8,142,731 remains unpaid.
However, currently on hand are prepaid taxes through the pre-authorized
payment system and prepaid taxes for the April 2012 installment of$5,001,481.
The net balance at $3,141,250 is 31.3% lower than the prior year at this time.
This is a significant improvement over the first quarter 2011.
2.15 Attachment "C", Investments Outstanding as of March 31, 2012 provides the
status of the Municipality's general, capital and reserve fund investment holdings
at the end of the third quarter. The Municipality at March 31, 2012 holds
$6,000,000 in general fund investments, $0 in capital fund investments,
$4,509,430 in Development Charge reserve fund investments and $43,281,548
in reserve fund investments to fund future commitments. General fund
investments are short term in nature and timed to mature when funds will be
required. Investments held in the Municipality's portfolio are reviewed on an
ongoing basis to ensure they meet the requirements of Section 418 on the
Ontario Municipal Act and the Municipality's investment policy. Currently, the
majority of general fund investments are held in the Municipality's general bank
account as the interest rate on the account is more favourable than money
market instruments as a result of current economic conditions that are likely to
continue for some time. The short term interest rates and the current cash flow
needs are evaluated on a regular basis.
2.16 Attachment "D", Debenture Repayment Schedule provides the status of the
Municipality's long-term obligations as of January 1, 2012. The Municipality has
$24,200,891.51 in outstanding debt as of January 1, 2012 and debt repayment
obligations of$3,525,111.16 for 2012 as reflected in the 2012 budget. The
annual principal and interest payments required to service these liabilities are
well within the annual debt repayment limits prescribed by the Ministry of
Municipal Affairs and Housing.
REPORT NO.: FND-011-12 PAGE 5
2.17 Attachment "E", Municipal Development Charges as of March 31, 2012 provides
the total Municipal development charges collected of $935,926. In 2010
Development Charges Background Study, it was forecasted that the municipality
would be collecting approximately 831 residential units total for 2012 or
approximately 69 units per month. For the three month period ending March 31,
2012 there were 63 units.
2.18 Analyzing the number of units issued in first quarter of 2012, there was a
decrease of 12.5% compared to the first quarter in 2011. In comparing the total
dollars collected in the first quarter 2012 to 2011, there was a decrease of 10.1%
in municipal development charges collected.
2.19 As noted in report FND-004-12, as of January 1, 2012 there was a change to the
Ontario Building Code. This amendment which applies to the energy efficiency
requirements of residential and large buildings is a substantial cost increase to
the builders. There was a significant increase in development charge collections
in December 2011 in order to avoid the new building code requirement. This has
had a negative effect on the development charges for the first quarter of 2012.
3.0 CONCLUSION
3.1 The report is provided as information to Council. Ongoing reports will be
provided quarterly.
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, B.B.A., C.A., Director of Finance/Treasurer
Attachments:
Attachment "A": Summary of Operating and Expenditure and Revenue
Attachment "B": Continuity of Taxes Receivable
Attachment "C": Investments Outstanding
Attachment "D": Debenture Repayment Schedule
Attachment "E": Municipal Development Charges
THE MUNICIPALITY OF CLARINGTON
ATTACHMENT"A'
1
SUMMARY OF OPERATING EXPENDITURES&REVENUES FOR THE THREE MONTHS ENDING
2011'
2012'
Budget YTD
Jan-Mar,
2012
Actual YTD
Jan-Mar.
2012 YTD
Unexpended($)
Jan-Mar
Budg
J
05 NON-DEPT'L ACCTS
Revenue/Recoveries
Ex enditures
p
Net Expenditures
10 MAYOR&COUNCIL
(115,147),
184,500
(58,924) (56,223)
179,500 5,000
{2
17
69,353 120,576 (51,223)
1
Jan-Mar
Net Expenditures
13 ADMINISTRATOR'S OFFICE
230,683
201,884
28,799
1S
0.80%
Net Expenditures
14 LEGAL ADMIN
Revenue/Recoveries
Expenditures
Net Expenditures
16 CORPORATE SERVICES
Revenue/Recoveries
Expenditures
Net Expenditures
19 CLERK'S
Revenue/Recoveries
Expenditures
Net Expenditures
21 FINANCE&UNCLASS.ADMIN
124,366 120,416 3,950
209,899
(20,882)1 (8,493):: (12,389)
94,379 97,578 (3,199)
(2
1
73,497 89,085 (15,588)
: 49,$341
(46,281) (52,185) 5,904
1,119,373 : 1,010,197 , 109,176
{
1,1;
1,073,092 . 958,012 ' 115,080
1q1
(154,061);, (165,322)', 11,261
578,588 1 563,972 14,616
Is
4<
424,527 398,650 25,877
4(
(329,237);
243,718
548,128 :
791,846 :
(442,765)
643,940
527,041
1,170,981
113,528
(400,222)
21,087
(379,135)
(31
4
4
&
Revenue/Recoveries
Unclassified Admin&Board of Trad
Operating Expenditures
Expenditures
Net Expenditures
28 EMERGENCY SERVICES-FIRE
462,609
728,216
(265,607)
3
(2,930)
2,453,3221
(5,753) 2,823
21204,339 248,983
2,01.
Revenue/Recoveries
Expenditures
Net Expenditures
2,450,392
2,198,586 i 251,806
2,0(
493,308 :
31,2012
ATTACHMENT"A'
2011'
P 2011 YTD'
2012'
2012
Actual YTD
Unexpended$
Total Budget
%of Annual
Jan-Mar
Jan-Mar
Budget Spent
(78,391)
41,634
(7,357,561);
0.80%
i67,400,
8,000
209,899
85.52%
89,x09 ��.
: 49,$341
(7,147,662)l
(1.69%)
I
��
23.61%
200 207
(4,6=14)
855,240
24.41%
124,189
(26,883)
493,308 :
(11;334)
(26,393)
(176,000):
4.83%
92,082
35,828
544,592
17.92%
80,748
9,635
368,592
24.17%
(48,359)
12,649
(100,200)1
52.08%
1,002586
157,007
4,242,740
_
23.81
954,227
" 169,656
4,142,540 1
23.13%
(109,778)
16,947
(655,400);
25.22%..
489,182
5,935
2,471,628 .
22.82%
379,404
22,582
1,816,228
21.95%
(474,816)
",',1158,633
(1,455,000)1
30.43%
212„ffff7
(26,620).
...2,039,706
31.57%
514,852
(55,390)
2,029,410
25.97%
7271849
82,010
4,069,116 1
28.78%
253,033
76;623
2,614,116
27.86%
(3,402)
{s,55tl)
(38,800).
14.83%
1,879,156
130,968
9,713,809 j
22.69%
1,875,754
124,418
9,675,009
22.72%
FND-011-12 Attachment"A" 1 of 2
THE MUNICIPALITY OF CLARINGTON
7
7
ATTACHMENT"A"
SUMMARY OF OPERATING EXPENDITURES
8,REVENUES
FOR THE THREE MONTHS ENDING MARCH 31,2012
2012,
2012!,
2012 YTD
2011
2011
2011 YTD
2012,
2012
Budget YTD,
Actual YTD, Unexpended($)
Budget`l7D
Actual YTD
Unexpended$
Total Budget,
%of Annual
Jan-Marl
Jan-Mar
Jan-Mar
Jan-Mar;
Jan-Mar
Jan-Mar
I Budget Spent
32 ENGINEERING SERVICES
Revenue/Recoveries
(193,463)
(512,275)
318,812
(349;184)
(297,128)
(52,056)
(1,359 050)1
37.69%
Expenditures
848,194:
730,304
117,890
641;242
669,424
(28,182)
5,498,407 .
13.28%
Net Expenditures
654,731 !,
218,029 '
436,702
292,0581
3721296
(80,238)
4,139,357 :
5.27%
36 OPERATIONS
Revenue/Recoveries
(25,430):
(48,551)
23,121
(35,342)
(27,579)
(7,763)
(437,700)1
11.09%
Operating Expenditures
3,073,400
2,730,428
---------i4i,972
2,756;848'
2,859,386
(102,538)
� 12,728,518 '
21.45%
Fleet&Debenture Payments
249,320
134,784
114,536
3,437;490"
3,224,606
212,884
832,968
16.18%
Expenditures
3,322,720
2,865,212
457,508
6,194;338
6,083,992
110,346
13,561,486
21.13%
Net Expenditures
3,297,290
2,816,661
480,629
6,158';996;.
6,056,413
102,583
13,123,786 :
21.46%
42 COMMUNITY SERVICES
Revenue/Recoveries
(1,593,910)',
(1,565,698)
(28,212)
(1,55T;451)i
(1,549,050)
(2,401)
(4,440,865)1
3516%
Operating Expenditures
2,265,025
1,948,574
316,451
2,108,706
1,909,024
199,682
9,317,422 1
20.91%
Annual Grants&Debenture Pymts
3,117,005
3,116,006
999
3,093,628
3,080,286
134342
3,400,972
91.62%
Expenditure
p
5,382,030
5,064,580 ;
317,450
5,202 33Q
4,989,310
213,024
12,718,394
39.82%
Net Expenditures
3,788,120 !,
3,498,882
289,238
3,650;883
3,440,260
210,623
8,277,529 !
42.27%
50 PLANNING SERVICES
Revenue/Recoveries
(49,130)'
(49,991)
861
(123,628)
(69,728)"
(53,900)
(432,000)
11.57%
Expenditures
860,559
807,518
53,041
652,487'
781,346
(128,859)
3,747,707
21.55%
Net Expenditures
811,429
757,527 !
53,902
528,859
711,618
= (182759)
3,315,707
22.85%
BOARDS&AGENCIES
Net Board&External Agencies
2,519,826 !
2,494,168 !
25,658
2,439,811,
2,430,156
9,655
3,614,005 :
69.01%
TOTAL OPERATING:
'-
Revenue/Recoveries
(2,530,471);
(2,909,957)
_ _
379,486
(2,588,965)
{2,669,565)
80,600
(16,452,576)
17.69%
Expenditures
18,510,386
17,510,649
999,737
20,0371941
19,636,979
400,215!
61,740,331
28.36%
Net Operating Expenditures
15,979,915 !
14,600,692 !
1,379,223
17,448,229
16,967,414
480,815
45,287,755 1
32.24%
FND-011-12 Attachment"A" 2 of 2
ATTACHMENT "B"
0
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Continuity of Taxes Receivable
for the First Quarter of the Year 2012
December 31,2011 MARCH I MARCH
BEGINNING BAL. INTEREST TAXES PAYMENTS/ 2012 2011
RECEIVABLE ADDED BILLED BALANCE ADJUST.*"*
CURRENT YEAR
TAXES 33,242,550 33,242,550 (38,244,031) (5,001,481) (4,374,912)
PENALTY AND INTEREST 134,227 134,227 110,434 23,793 24,291
FIRST PRIOR YEAR
TAXES 6,356,805 - 6,356,805 (1,374,142) 4,982,663 5,197,002
PENALTY AND INTEREST 470,373 175,931 646,304 370,383 275,921 295,824
SECOND PRIOR YEAR
TAXES 587,781 587,781 1,204,558 1,792,339 2,187,135
PENALTY AND INTEREST 67,641 59,486 127,127 22,367 149,494 190,896
THIRD&PRIOR YEARS
TAXES 405,149 405,149 341,272 746,421 832,427
PENALTY AND INTEREST 106,629 25,670 132,300 39,801 172,100 221,125
SUB-TOTAL J 7,994,378 1 395,314 1 33,242,550 41,632,242 38,490,992 3,141,250 4,573,788
PREPAID TAXES (2,924,250)1 (5,001,481) (4,374,912)
TOTAL 5,070,128 395,314 1 33,242,550 41,632,242 38,490 992 8,142,731 8,948,700
`* Includes refunds,write-offs,357's,etc.
NOTE 1: 2012 Interim Instalment months: February and April.
NOTE 2: Current year taxes are in a negative position because they include taxes prepaid for the April instalment.
CORPORATION OF MUNICIPALITY OF CLARINGTON ATTACHMENT"C"
INVESTMENTS OUTSTANDING
As at March 31,2011 e
ISSUER OF PURCHASE' COST OF INTEREST I MATURITY MATURITY
INVESTMENT DATE INVESTMENT RATE I DATE AMOUNT
GENERALFUND
TD GIC short term 13-Jan-12 j 3,000,000.00 1.50%' 12-Apr-12 3,011,095.89
TD GIC short term 13-Jan-12 3,000,000.00 1.50% 12-Apr-12 3,011,095.89
TOTAL GENERAL FUND ( 6,000,000.00 6 022 191.78
I
CAPITAL FUND j
i
TOTAL CAPITAL FUND
� I
NON DEV.CHARGE MONIES
RBC GIC 02-May-1 1 ! 1,000,000.00 1.77%j 02-May-12 1,000,000.00 (B)
BNS IGIC 01-Oct-101 5,100,000.00 2.00% 01-Oct-12 5,306,040.00
TD IGIC 30-Oct-071 1,471,061.00 4.80% 30-Oct-12 1,859,675.00
RBC BA 14-Mar-11 1,500,631.20 1.932 0/6' 01-Nov-12 1,548,000.00
PROV ONTARIO!STRIP BOND 05-Aug-09 699,779.86 2.50%1 02-Dec-12 759,557.00
BMO GIC i 21-Dec-11 ! 1,091,974.00 1.50%1 21-Dec-12 1,108,353.61
10,863,446.06 11,581,625.61
i
TD GIC 1 08-Jan-08 j 1,503,357.00 4.80% 08-Jan-13 1,900,502.92
BNS GIC 12-Feb-08 1,546,695.00 4.50% 12-Feb-13 1,927,463.38
BNS GIC I 04-Mar-08 599,161.00 4.35% 04-Mar-13 741,320.00
TD GIC 25-Mar-08 1,009,028.00 4.45% 25-Mar-13 1,254,427.00
BNS GIC 01-May-08 1,000,000.00 4.60% 01-May-13 1,000,000.00 (B)
RBC GIC 02-May-11 1,001,980.00 2.20% 02-May-13 1,001,980.00 (B)
TD GIC 13-May-08 257,495.001 4.51% 13-May-13 321,039.00
TD GIC 13-May-08 100,320.001 4.51% 13-May-13 100,320.00 (B)
BNS GIC 03-Jun-10 1,371,861.001 3.00% 13-Jun-1311 1,499,070.001
RBC IGIC 27-Jun-11 147,749.00 1.80%I 27-Jun-13 ! 147,749.00 (B)
BNS ,GIC I 30-Jul-09 2,060,630.00 3.10 0/(' 30-Jul-13 2,328,277.00
RBC IGIC 1 30-Sep-08 946,770.00 4.40% 30-Sep-13 ) 1,174,213.001
RBC GIC 14-Oct-08 574,200.00 4.30% 15-Oct-13 598,890.60 (B)
BNS GIC 16-Dec-08 . 1,338,742.00 4.15%�T&Dec- 37 1,640,564.301
13,457,988.00 15,635,816.20
BMO GIC 07-Mar-11 1,000,000.00 2.75% 09-Mar-14 1,084,790.00
RBC GIC 15-Mar-11 1,672,368.00 2.65% 17-Mar-14 1,808,875.64 (B)
BNS GIC 17-Aug-09 1,600,000.00 3.20% 17-Aug-14 1,893,626.00 (B)
BMO GIC 12-Sep-11 983,080.00 1.80% 12-Sep-14 1,037,127.61
Manulife Bank GIC 20-Sep-11 742,599.00 2.05% 22-Sep-14 789,211.47
PROV ONTARIO STRIP BOND 05-Aug-09 999,807.77 3.35% 02-Dec-14 1 1,191,382.00
BMO GIC 07-Dec-10 1,000,000.00 2.60% 08-Dec-14 ! 1,013,000.00 (A)
7,997,854.771 8,818,012.72
i
BMO IGIC 26-Sep-11 624,188.00 2.00% 28-Sep-15 675,641.17
RBC IGIC j 07-Dec-11 11922,733.00 2.35%107-Dec-15 2,109,941.00'
RBC IGIC I 07-Dec-11 1 1,976,951.00 2.35%107-Dec-15 2,169,438.00
4,523,872.00 4,955,020.17
BMO COUPONS 15-Mar-12 176,636.37 2.54% 28-Mar-16 195,351.00
Manulife Bank GIC 20-Sep-11 2,000,000.00 2.60% 20-Sep-16 2,273,876.11
BMO COUPONS 15-Mar-12 213,067.68 2.61% 28-Sep-16 239,375.00
Manulife Bank GIC 02-Dec-11 2,000,000.001 2.71% 02-Dec-16 ! 2,286,091.67
4,389,704.051 4,994,693.78
I
Manulife Bank GIC 19-Mar-12 1,693,000.001 2.88% 19-Mar-17 1,951,224.70
BMO COUPONS 15-Mar-12 159,396.18 2.86% 28-Mar-17 183,615.00
BMO COUPONS 15-Mar-12 196,287.25 2.92% 28-Sep-17 230,141.00
1 1 2,048,683.431 1 2,364,980.70;
TOTAL NON DEV,CHARGE MONIES 43,281,548.311 48,350,149.181
DEV.CHARGE INVESTMENTS
PMO GIC 20-Dec-11 2,033,000.00 1.50% 20-Dec-12 j 2,063,495.00
PMO GIC 20-Dec-10 2,476,430.00 2.10% 20-Dec-12 2,581,532.17
I
TOTAL DEV.CHARGE INVESTMENTS 4,509,430.00 4,645,027.171
TOTAL INVESTMENTS 53,790,978.31 59,017,368.13
Note that interest on GICs is annual compunding with the exception of the following.
(A)Interest is paid semi-annually
(B)Interest is paid annually
ATTACHMENT"D"
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Debenture Repayment Schedule
As of January 1, 2012
Year
South Courtice
Indoor Soccer/
RRC
Newcastle
Newcastle
Total
Arena
Lacrosse
CCD Space
Library
Aquatic
2012
1,201,432.00
334,977.00
107,074.68
103,304.98
1,778,322.50
3,525,111.16
2013
1,348,835.30
335,427.00
107,074.68
104,042.98
1,781,367.25
3,676,747.21
2014
1,348,835.30
1,761,015.00
107,074.68
103,480.98
1,783,101.25
5,103,507.21
2015
1,348,835.30
107,074.68
103,677.48
1,784,674.00
3,344,261.46
2016
1,348,835.30
107,074.68
103,575.48
1,785,231.50
3,344,716.96
2017
1,348,835.30
107,074.68
104,194.48
1,785,285.25
3,345,389.71
2018
107,074.68
556,507.98
1,784,635.50
2,448,218.16
2019
107,074.68
1,784,054.75
1,891,129.43
2020
107,074.68
1,629,375.00
1,736,449.68
2021+
53,537.34
2,094,750.00
2,148,287.34
7,945,608.52
2,431,419.00
1,017,209.46
1,178,784.36
17,990,797.00
30,563,818.34
Principal
at Jan 1/2012
5,972,000.00
2,122,000.00
829,891.51
919,000.00
14,358,000.00
24,200,891.51
Principal
at Jan112013
5,105,000.00
1,902,000.00
764,480.59
861,000.00
13,207,000.00
21,839,480.59
NOTE: 2012 changed to accrual basis for interest. Total budget is$3,525,111.16-369,767.84+288,707.11=$3,444,050.43
NOTE: 2014 and 2018 each require renewal of debentures for a further 5 year period unless funding
is available from other sources. Partial funding at those times would reduce debenture
burden for following 5 year period.
Attachment "E"
MUNICIPAL DEVELOPMENT CHARGES
MONTH OF MARCH
2012 2011
MUNICIPAL NUMBER MUNICIPAL NUMBER %CHANGE OF
UNIT TYPE DEV. CHARGES PAID OF UNITS DEV. CHARGES PAID OF UNITS DEV,CHGS 2012-2011
Single/Semi- Detached
-New construction $ 609,760.00 40 $ 599,256.00 42
-Additions $ - 0 $ - 0
Townhouse $ 66,390.00 5 $ - 0
Apartment $ - 0 $ - 0
Commercial $ - 0 $ 18,747.34 1
Agricultural $ - 0 $ - 0
Government $ - 0 $ - 0
Institutional $ - 0 $ - 0
Industrial $ - 0 $ - 0
TOTAL $ 676,150.00 45 $ 618,003.34 43 9.4%
MUNICIPAL DEVELOPMENT CHARGES
JANUARY TO MARCH -YEAR TO DATE
2012 2011
MUNICIPAL NUMBER MUNICIPAL NUMBER %CHANGE OF
UNIT TYPE DEV. CHARGES PAID OF UNITS DEV. CHARGES PAID OF UNITS DEV,CHGS 2012-2011
Single/Semi- Detached
-New construction $ 869,536.00 58 $ 1,022,174.00 71
-Additions $ - 0 $ - 0
Townhouse $ 66,390.00 5 $ - 0
Apartment $ - 0 $ - 0
Commercial $ - 0 $ 18,747.34 1
Agricultural $ - 0 $ - 0
Government $ - 0 $ - 0
Institutional $ - 0 $ 0
Industrial $ - 0 $ 0
TOTAL $ 935,926.00 1 63 1 $ 1,040,921.34 72 -10.1%