HomeMy WebLinkAboutFND-024-12 Clarftwn REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date: OCTOBER 29, 2012 Resolution#: By-law#:
Report#: FND-024-12 File#:
Subject: FINANCIAL UPDATE AS AT SEPTEMBER 30, 2012
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-024-12 be received for information.
Submitted by: W ts' Reviewed by:
Nancy T ylor, A, CA. Franklin Wu,
Director of Finance/ Chief Administrative Officer
Treasurer
NT/CC/hj I
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T 905-623-3379
REPORT NO.: FND-024-12 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 THIRD 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 September 30, 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 September 30, 2012
totaled $33,421,624, which represents 73.8% 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
September 30, 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 September 30, 2012
the net year to date expenditures are at 88.1% of the year to date third quarter
budget. Some of the variances can be attributed to the timing differences in
revenue and expenditures between 2012 and 2011.
2.4 The Non-Departmental revenues are above the third quarter budget at 140%.
This is attributable to annual budget transfers being posted in the first half of the
year. The Non-Department net expenditures are at 75.92% of the total 2012
budget.
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 96.67% of the third
quarter 2012 budget. The CAO's office is at 101.82% of the third quarter 2012
budget.
2.6 As of September 30, the Legal net expenditures are 120% of the third quarter
2012 budget. Revenues are lower than budgeted such as plan agreement fees.
REPORT NO.: FND-024-12 PAGE 3
Also, there can be a timing difference between recoverable professional fees and
disbursements and the processing of the invoice.
2.7 Corporate Services are in line with the third quarter budget at 95.06%. As of the
third quarter, revenues are higher than budgeted. This is due to an increase in
advertising revenue compared to the third quarter in 2011. Overall, Corporate
Services net expenditures are at 75.94% of the total 2012 budget.
2.8 The Finance net expenditures are at 80.56% of the third quarter 2012 budget.
The Finance revenues are higher than the annual budget at 136.13% as of
September 30, 2012. This is due to the higher than budget amount of the fines
and penalties on taxes. The year to date figure of 2012 ($1,244,643) is higher
than budgeted amount for the third quarter ($877,605) but are slightly lower than
the 2011 interest and penalties ($1,318,770). This is a reflection of the
continuing success of the collection of outstanding taxes.
2.9 The Emergency Services net expenditures are on budget with the third quarter
2012 budget figures. As of September 30, 2012 year to date expenditures
represents 95.39% of the total 2012 budget. Revenues are above budget due
to increase in general revenues from the unbudgeted event by Live Republic.
2.10 The Engineering Department net expenditures are 76.71% as of September 30,
2012 budget. This positive percentage can be attributed to the favourable
building permit revenue. As of September 30, 2012, the building permit revenue
at $1,518,643 exceeded the total 2012 budgeted amount of $1,300,000.
2.11 The Operations Department net expenditures are $9,173,753 or 96.03% of the
2012 third 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 expenditures (not including
debenture and fleet) are overall in line with the 2012 third quarter budget at
99.37%.
2.12 Community Services net expenditures are on target with the budget overall at
93.08% of the third quarter budget. Revenues are at 99.54% and total
expenditures are at 95.15% as of September 30, 2012,
2.1-3 The Planning-Department net expenditures as of September 30, 2012 are
89.42% of the 2012 third quarter budget. The expenditures are in line with the
budget as of September 30, 2012 at 95.76%. The favorable net expenditures are
due to the higher revenues as of the third quarter at 148.32%. The favourable
net expenditure for Planning is related to increase in general revenue and
savings in salary costs due to staffing changes. Also, a factor is the timing of
REPORT NO.: FND-024-12 PAGE 4
Port Granby revenues and expenditure and the timing of the Community
Improvement Funds (CIP). The CIP accounts are now in the Operating budget
rather than the Capital budget. The 2012 budget allocation for these accounts
has been monthly which may not reflect the normal trend.
2.14 Attachment "B", Continuity of Taxes Receivable for the nine months ending
September 30, 2012 provides the status of the taxes billed and collected by the
Municipality of Clarington during the third quarter of 2012. A total of$42,969,360
in final tax bills and $797,621 in supplementary tax bills were issued to property
owners in the Municipality during this period. At the end of September 2012, a
total of $19,684,354 remains unpaid. The net balance is $803,124 higher than
the prior year at this time, an increase of 4.25%. This increase is due in part to
the addition of Region development charges and associated penalties to the tax
roll for specific properties. The taxes receivable are monitored on a monthly basis
and the fourth quarter report will provide a better insight.
2.15 Attachment "C", Investments Outstanding as of September 30, 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 September 30, 2012 holds
$5,084,113.54 in general fund investments, $0 in capital fund investments,
$4,509,430 in Development Charge reserve fund investments and $43,281,549
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 because 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.
2.17 Attachment "E", Municipal Development Charges as of September 30, 2012
provides the total Municipal development charges collected of $6,537,901.46.
REPORT NO.: FND-024-12 PAGE 5
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 nine-month period ending
September 30, 2012 there were 413 units.
2.18 Analyzing the number of units issued in third quarter of 2012, there was a
decrease of 17.4% compared to the third quarter in 2011. Comparing the total
dollars collected as of the third quarter 2012 to 2011, there was a decrease of
23.1% 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 in 2012.
3.0 CONCURRENCE — not applicable
4.0 CONCLUSION
4.1 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 CLARINGTO
ATTACHMENT"A"
i
SUMMARY OF OPERATING EXPENDITURES''&REVENUES FOR THE NINE MONTHS ENDING SEPTEMBER 30,2012
2012
---
Budget YTD
Jan-Sept.
2012 2012 YTD
---------"1 1111 , _111-1-11_11-1
Actual YTD Unexpended($)
Jan-Sept Jan-Sept
2011
Budget YTD
Jan-Sept
2044
Actual YTD
Jan-Sept
2 1 YTID
01
Unexpended$
Jan-Sept
2012 Qtr 3!
1-11111-11-1 91111d"1111ii
YTD u ge
July-Sept
2012 Qtr 3
Y*b"A---ct-u-a"Is'
July-Sept
2012
-To-Total 1'Budget
20U
%of Annual
Budget Spent
05 NON-DEPT'L ACCTS
Revenue/Recoveries
Expenditures
(4,004,875)
209,899
(5,636,716)::
209,899
1,631,841
0
(3,909,012)
201,022
(5,351,936)
201,022
1,442,924
0
(2,303,299)[
25,399
..
(2,412,584)
25,399
................... ........................
(7,357,5611)1
209,899 ,
76.61%
100.00%
Net Expenditures
(3,794,976)',
(5,426,817)
1,631,841
(3,707,990)
(5,150,914):
1,442,924
(2,277,900)1
(2,387,185)
(7,147,662)
75.92%
10 MAYOR&COUNCIL
Net Expenditures
663,007
1 640,922
22,085
608,882
586,141
23,741
228,007
250,836
855,240
74.94%
13 ADMINISTRATOR'S OFFICE
............
...........................
Net Expenditures
358,467
364,983
1 (6,516)
326,474
336,235
(9,761)
133,464
129,942
493,308
73.99%
14 LEGAL ADMIN . ......
Revenue/Recoveries
Expenditures
(99,858)
384,121
(53,756):
394,943
(46,102)
(10,822)
(148,881)
388,502
(42,788)
296,286
(105,793)
92,216
(10,549)
136,073
(34,105)
130,795
(176,000)
544,592
30.54%
..............._................
72.52%
Net Expenditures
284,263
341,187
1 (56,924)
239,921
253,498
(13,577)
125,524
96,690
368,592
92.56%
16 CORPORATE SERVICES
Revenue/Recoveries
Expenditures i
(85,386)
3,394,591
(96,153)
3,242,007
10,767
152,584
(87,007)
2,964,759:
(92,296)
2,951,936
5,289
12,823
(28,889)1
1,147,140 j
......................
(23,552)
1,117,974
(100,200)1
4,242,740
95.96%
76.41%
Net Expenditures
19 CLERK'S
Revenue/Recoveries
'Expenditures
3,309,205
1 3,145,854
163,351
2,877,752
2,859,640
18,112
1,118,251
1,094,422
4,142,540
75.94%
(521,423)1 (556,452) 35,629
1,860,961 1,832',449 28,512
(441,150) (523,215) 82,065
1,627,371 1,716,513 (88,142)
(16,620)i 164,027)
............
642,096 580,871
(655,400)
..........
2,471,628
84.90%
74.14%
Net Expenditures
21 FINANCE&UNCLASS.ADMIN
kevenuemecoveries
Unclassified Admin&Board of Trade
Operating Expenditures
1,339,538
1,275,997
63,541
1,186,221
1,192,298
(6,077)
452,476
416,844
1,816,228 1:
70.26%
(1,08'3',,,7,8,5,),:, (1',4'7'5,408)1 391,623
1,695,481 1,697,900 7,581
1,577,102 1,550,908 26,194
(1,082,806) (1,553,031) 470,226
1,642,855 1,840,862 (197,997)
1,449,431 1,639,789 (90,358)
(352,679) (509,366)
947,025 584,747
547 234
(1,455,000)
2,039,706
2,029,410
............
101.40%
82.75%
Expenditures
3,272,583
3,238,808
33,775
3,092,286
3,380,641
(288,356)
1,494,259
1,116,410
4,069,116 i
79.59%
Net Expenditures
2,188,798
1,763,400
425,398
2,009,480
1,827,610
181,870
1,141,580
607,044
2,614,116
67.46%
EMERGENCY SERVICES-FIRE
.................
(15,938):
7,458,977
(48,568):i
7,148,785
32,630
310,192
(18,706)
6,625,232
(25,900)
6,682;771
7,194
(57,539)
(5,091)1
...
2,350,441
(26,587)
...........
2,354,101
(38,800)
9,713,809
125.18%
73.59%
Revenue/Recoveries
Expenditures
------------
Net Expenditures
7,443,039
7,100,217
342,8:22:[
6,606,626
6,656,871
(60,345)
2,345,350
2,327,514
9,675,009 j
73.39%
FND-xxx-12
Attachment"A"
1 of 2
FND->,w-12 Attachment"A" 2 of 2
THE MUNICIPALITY OF CLARINGTON''
ATTACHMENT"A"
SUMMARY OF OPERATING EXPENDITURES&REVENUES FOR THE NINE MONTHS ENDING SEPTEMBER 30,2012
20121:
Budget YTD
Jan-Sept
2012';
Actual YTD
Jan-Sept
2012 YTD
Unexpended($)
Jan-Sept
2011
Budget YTD
Jan Sept
2011,
Actual YTD
Jan-Sept
2011 YTD
Unexpended$
Jan Sept
2012 Qtr 3
YTD Budget:
JulySept
2012 Qtr 3
YTD Actuals
July-Sept
2012,
Total -
Budget,
2012
f n
%of Annual
Budget Spent
32 ENGINEERING SERVICES
Revenue/Recoveries
Expenditures
(1,047,357)
4,485,517
(1,649,145):'
4,286,398
601,788
199,119
(1,106,693)
3,944,032
(1,765,604)
3,857,220'
658,911'
86,812'
(486,645);
875,559 :
(505,003)
804,763
(1,359,050)
5,498,407
121.35%
77.96%
_..
Net Expenditures
3,438,160
2,637,253
800,907
2,837,339
2,091,616'
745,723
388,914
299,760
4,139,357 '
63.71%
36 OPERATIONS
Revenue/Recoveries
Operating Expenditures
Fleet&Debenture Payments
Expenditures
(357,042)
9,249,474
660,319
(295,299)
9,191,049
278,003
(61,743
58,425
382,316
(316,393)
8,853,101
3,848,716
(404,047)
9,133,176'
3,417,378
87,654'
(280,075)
431,338:
(240,107):
2,657,977
162,993
(114,731)
2,835,929
(19,409)
(437,700) ,
12,728,518
832,968
67.47%
72.21%°
33.37%
9,909,793 9,469,052 440,741
12,701,817 12,550,554 151,263:
2,820,970 : 2,816,520
13,561,486
69.82%
Net Expenditures
42 COMMUNITY SERVICES
Revenue/Recoveries
Operating Expenditures
Annual Grants&Debenture Pa ments
9,552,751
9,173,753
'': 378,998
12,385,424
12,146,507!
238,9171
2,580,863 :
2,701,789
13,123,786 :
69.90%
(3,216,871), (3,201,940) (14,931)
.... _ _ ............
6,907,433 6,421,176 486,257
-
3,117,005 3,117,005 6
(3,130,546) (3,128,994) (1,552)
6,501,745 6,105,116 396,629;
3,099,671 3,083,286 16,385
(851,741); (880,113)
2,266,342 2,187,265
(4,440,865)
9,317,422
..
3,400,972
72.10%
68.92%
91.65%°
Expenditures
10,024,438
9,538,181
! 486,257
9,601,416
9,188,402'
413,014
2,266,342 '.
2,187,265
12,718,394
75.00%
Net Expenditures
6,807,567
6,336,241
471,326
6,470,870
6,059,408
411,462:
1,414,601 :
1,307,152
8,277,529
76.55%
50 PLANNING SERVICES
Revenue/Recoveries
Expenditures
(330,038)
3,066,622
(489,503);
2,936,645
159,465
129,977
(322,549)
2,929,179
(611,957(
2,928,677,
289,408'
(121,515);
769,418
(140,299)
698,303
(432,000)
3,747,707
113.31%
78.36%
Net Expenditures
_BOARDS&AGENCIES
2,736,584
2,447,142 :
289,442
2,606,630
2,316,720
289,910'
647,903 :
558,004
3,315,707 :
73.80%
Net Board&External Agencies
3,611,534
3,621,492
! (9,958)
3,518,319
3,578,611':
{60,292)',
8,101
17,082
3,614,005 :
100.21%
TOTAL OPERATING:
Revenue/Recoveries
--
Expenditures
(101762,573)
48,700,510
(13,502,940)
46,924,564
2,740,367
1,775,946
(10,563,443)
48,529,291
(13,499,768)
48,253,0091
2,936,325
276,282
(4,590,135):
12,897,269
..._...........__.....
(4,810,367)
12,230,261
.
(16,452,576)
61,740,331
82.07%
76.009X.
Net Operating Expenditures
__.._ ._
37,937,937
33,421,624
!; 4,516,313
37,965,848
34,753,241
3,212,607
8,307,134
7,419,894
45,287,755 :
73.80%
FND->,w-12 Attachment"A" 2 of 2
ATTACHMENT"B"
I
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Continuity of Taxes Receivable
for the Third Quarter of the Year 2012
I
June 30,2011 SEPTEMBER SEPTEMBER
BEGINNING BALANCE INTEREST TAXES PAYMENTS/ 2012 2011
RECEIVABLE ADDED BILLED BALANCE ADJUST.-
CURRENTYEAR
TAXES 7,771,411 43,598,780 51,370,191 (37,443,856) 13,926,335 13,377,478
PENALTY AND INTEREST 99,393 253,919 353,312 (151,205) 202,107 189,036
FIRST PRIOR YEAR
TAXES 4,081,032 159,786 4,240,818 (847,379) 3,393,439 3,321,386
PENALTY AND INTEREST 288,583 143,539 432,1221 (144,361) 287,761 239,406
SECOND PRIOR YEAR
TAXES 1,375,878 8,236 1,384,114 (338,910) 1,045,203 998,266
PENALTY AND INTEREST 143,356 46,154 189,510 45,327 144,183 99,513
THIRD&PRIOR YEARS
TAXES 629,016 - 629,016 (79,702) 549,314 496,711
PENALTY AND INTEREST 124,983 22,0461 147,030 11,018 136,012 159,435
TOTAL 14,513,6511 465,6581 43,766,802 58,746 111 39,061,757 19 684 354 18 881 230
Includes refunds,write-offs,357's,etc.
NOTES:
2012 Interim Instalment months: February and April
2012 Final Instalment months: June and September for non-capped classes
I
- i
CORPORATION OF MUNICIPALITY OF CLARINGTON ATTACHMENT"C"
INVESTMENTS OUTSTANDING
As at September 30,2012
ISSUER OF PURCHASE COST OF INTEREST MATURITY MATURITY
INVESTMENT DATE INVESTMENT RATE DATE AMOUNT
GENERAL FUND
TD GIC 16-Jul-12 5,084,113.54 1.55% 25-Oct-12 5,105,919.51
TOTAL GENERAL FUND 5,084,113.54 5,105,919.51
CAPITAL FUND
TOTAL CAPITAL FUND
NON DEV.CHARGE MONIES
BNS GIC 01-Oct-10 5,100,000.00 2.00% 01-Oct-12 5,306,040.00
TD GIC 30-Oct-07 1,471,061.00 4.80% 30-Oct-12 1,859,675.00
PROV ONTARIO STRIP BOA 05-Aug-09 699,779.86 2.50% 02-Dec-12 759,557.00
BMO GIC 21-Dec-11 1,091,974.00 1.50% 21-Dec-12 1,108,353.61
8,362,814.86 9,033,625.61
TD GIC 08-Jan-08 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 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-08 257,495.00 4.51% 13-May-13 321,039.00
TD GIC 13-May-08 100,320.00 4.51% 13-May-13 100,320.00 (B)
BNS GIC 03-Jun-10 1,371,861.00 3.00% 13-Jun-13 1,499,070.00
RBC GIC 27-Jun-11 147,749.00 1.80% 27-Jun-13 147,749.00 (B)
BNS GIC 30-Jul-09 2,060,630.00 3.10% 30-Jul-13 2,328,277.00
RBC GIC 30-Se -08 946,770.00 4.40% 30-Sep-13 1,174,213.00
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% 16-Dec-13 1,640,564.30
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 1(B)
Laurentian GIC 02-May-12 1,000,000.00 2.15% 02-May-14 1,043,462.25
BNS GIC 17-Aug-09 j 1,600,000.00 3.20% 17-Aug-14 1,893,626.001(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 BOIS 05-Aug-09 999,807.77 3.35% 02-Dec-14 1,191,382.00
BMO GIC 07-Dec-10 1 1,000,000.00 2.60% 08-Dec-14 1,013,000.00 (A)
8,997,854.77 9,861,474.97
BNS GIC 01-Jun-12 1,500,632.00 2.35% 01-Jun-15 1,608,632.21
BMO GIC _ 26-Sep_11 624,188.00 2.00% 28-Sep-15 675,641.17
RBC GIC 07-Dec-11 1,922,733.00 2.35% 07-Dec-15 2,109,941.00
RBC GIC 07-Dec-11 1,976,951.00, 2.35% 07-Dec-15 2,169,438.001
6,024,504.001 1 6,563,652.381
I
BMO cou ons 15-Mar-12 176,636.37 2.54% 28-Mar-16 195,3_51.00
Manulife Bank _GIC 20-Sep-1 1 1 2,000,000.00 2.60%. 20-Sep-16 2,273,876.11
BMO coupons I 15-Mar-12 1 213,067.68 2.61%128-Sep-16 239,375.00
Manulife Bank IGIC I 02-Dec-11 1 2,000,000.00 2.71%1 02-Dec-16 2,286,091.67
4,389,704.05 4,994,693.78
Manulife Bank GIC 19-Mar-12 1,693,000.00 2.88% 19-Mar-17 1,951,224.70
BMO Icoupons 15-Mar-12 1 159,396.18 2.86% 28-Mar-17 183,615.00
BMO coupons 15-Mar-12 196,287.25 2.92% 28-Sep-17 230,141.00
2,048,683.43 2,364,980.70
43,281,549.11 48,454,243.64
DEV.CHARGE INVESTMENTS
BMO 1GIC I 20-Dec-11 2,033,000.00 1,50% 20-Dec-12 2,063,495.00
BMO GIC 20-Dec-10 2,476,430.00 2.10% 20-Dec-12 2,581,532.17
TOTAL DEV.CHARGE INVESTMENTS 4,509,430.00 4,645,027.17
TOTAL INVESTMENTS 52,875,092.65 58,205,190.32
Note that interest on GICs is annual compounding 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
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
is
)14 and 2018 each require renewal of debentures for a further 5 year period unless funding
available from other sources. Partial funding at those times would reduce debenture
rden for following 5 year period.
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
1,077,778.50
335,427.00
107,074.68
104,042.98
1,781,367.25
3,405,690.41
2014
1,081,988.50
1,761,015.00
107,074.68
103,480.98
1,783,101.25
4,836,660.41
2015
1,083,940.50
107,074.68
103,677.48
1,784,674.00
3,079,366.66
2016
1,083,562.50
107,074.68
103,575.48
1,785,231.50
3,079,444.16
2017
1,080,782.50
107,074.68
104,194.48
1,785,285.25
3,077,336.91
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
6,609,484.50
2,431,419.00
1,017,209.46
1,178,784.36
17,990,797.00
29,227,694.32
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 Jan1/2013
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
is
)14 and 2018 each require renewal of debentures for a further 5 year period unless funding
available from other sources. Partial funding at those times would reduce debenture
rden for following 5 year period.
Attachment "E"
MUNICIPAL DEVELOPMENT CHARGES
MONTH OF SEPT
�I
2012 2011
MUNICIPAL NUMBER MUNICIPAL NUMBER %CHANGE OF
UNIT TYPE DEV, CHARGES PAID OF UNITS DEV. CHARGES PAID OF UNITS DEV.CHGS 2011-2010
Single/Semi- Detached
-New construction $ 502,424.00 33 $ 292,320.00 20
-Additions $ - 0
Townhouse $ 292,813.00 23
Apartment $ - 0
Commercial $ 9,178.13 4 $ - 0
Agricultural $ - 0
Government $ - 0
Institutional $ - 0
Industrial $ 46,451.25 1 $ - 0
TOTAL $ 558,053.38 38 $ 585,133.00 43 -4.6%
MUNICIPAL DEVELOPMENT CHARGES
JAN VARY TO SEPT-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 2011-2010
Single/Semi- Detached
-New construction $ 5,182,960.00 343 $ 5,290,046.00 367
-Additions $ - 0 $ - 0
Townhouse $ 703,734.00 53 , $ 1,514,989,00 119
Apartment $ - 0 $ - 0
Commercial $ 298,738.13 12 $ 1,122,722,21 11
Agricultural $ - 0 $ - 0
Government $ - 0 $ - 0
Institutional $ - 1 $ - 1
Industrial $ 352,469.33 4 $ 575,765.68 2
TOTALI $ 6,537,901.46 413 $ 8,503,522.89 500 -23.1%