HomeMy WebLinkAboutFND-012-13 ClarhWn REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date: September 9, 2013 Resolution#: , - I-13 By-law#:
Report#: FND-012-13 File#:
Subject: FINANCIAL UPDATE AS AT JUNE 30, 2013
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-012-13 be received for information.
1 ,1
� g
Submitted by: Reviewed by: --� `
Nancy ay or, BA, CPA, CA Franklin Wu,
Director of Finance/Treasurer Chief Administrative Officer
NT/CC/hj I
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T 905-623-3379
REPORT NO.: FND-012-13 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 SECOND QUARTER OF 2013 RESULTS
21 Attachment "A", the Summary of Operating Expenditures and Revenue statement
compares the Municipality's budget to actual posted expenditures as of June 30,
2013 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 June 30, 2013 totaled $27,888,276, which
represents 58 4% of the total 2013 budget
22 Attachment "A" is intended to provide an indication of the status of the
Municipality's operating accounts compared to the approved budget as at June
30, 2013 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 2012 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 As a whole, the operating budget is overall on target As of June 30, 2013 the
net year to date expenditures are at 91 7% of the second quarter budget Some
of the variances can be attributed to the timing differences in revenue and
expenditures between 2013 and 2012 With the second quarter budget
comparisons, revenues and expenditures tend to smooth out However, it is best
not to extrapolate the figures and percentages to future quarters
24 Overall, the operating budget is on target for the Mayor and Council as well as
the CAD's office The Mayor and Council expenditures are 88 5% of second
quarter 2013 budget The CAD's office is at 95 7% of the second quarter 2013
budget
25 As of June 30, the Legal net expenditures are on target at 100 4% of the second
quarter 2013 budget Planning agreement fee revenue continues to be higher
than budgeted as of June 30, 2013 There is also a timing difference between
recoverable expenses and invoicing for these charges
REPORT NO.: FND-012-13 PAGE 3
26 Corporate Services are in line with the second quarter budget at 95 4% As of
June 30, revenues are lower than budgeted at 80 2% of the second quarter
budget However, this is due in part to a timing difference in advertising revenues
when compared to 2012 in July 2013 there are significant advertising revenues
posted which bring the revenue in line with the 2012 amounts Expenditures are
below the second quarter budget at 94 9% The significant differences are
related to a staff absence as well as a timing difference for IT hardware and
software maintenance costs Advertising costs are higher when compared to last
year
27 As of June 30, 2013, the Clerk's department net expenditures are at 110 5% If
the parking meter revenue and the transfers to the Reserve Funds are removed
from the calculation, the Clerks revenue is at 57 8% of the second quarter 2013
budget and expenditures are at 83 6% The lower revenue to budget as of the
second quarter is due to the timing differences from year to year in the Wildlife
Damage Compensation program There is not a consistent trend in the claims
and there can be great variation year to year Animal licenses are below budget
as of June 30 but are at 44 7% of the total budget Overall, cemetery plot sales
are over the current YTD budget as of the second quarter There have been
some savings in wages as of June 30 in Animal Services, Parking Enforcement
and Municipal Law Enforcement due to parental and sick leaves as well as other
staff changes
28 The Finance net expenditures are at 100 1% as of the second quarter 2013
budget The Finance revenues are higher than the second quarter budget at
122 5% as of June 30, 2013 This is due to the higher than budget amount of the
fines and penalties on taxes The year to date figure of June 30, 2013
($746,7118) is higher than budgeted for the second quarter ($591,447) but are
slightly lower than the 2012 interest and penalties ($789,952) This is a
reflection of the continuing success of the collection of outstanding taxes The
increase in Unclassified Administration expenditures is due to higher insurance
costs and tax write offs due to the timing of ARB decisions (multiple years) on
commercial properties as noted in the first quarter report
29 The Emergency Services net expenditures are within budget with the second
quarter 2013 budget figures As of June 30, 2013 year to date net expenditures
represents 91 3% of the related budget Revenues are above budget due to the
timing of revenues from OPG relating to Joint Community Fire Safety as posted
in the first quarter
2 10 The Engineering Department net expenditures are 97 1% of the second quarter
2013 budget Reduced revenues in the second quarter are due to the decrease
REPORT NO.: FND-012-13 PAGE 4
in building permit revenues compared to the same period in the previous year
Currently building permit revenue is at 47 2% of the 2013 budget This can be
attributed to a decline in residential building permits Expenditures in the second
quarter are at 102 2% If the transfer of the Engineering and Inspection Fees are
excluded from the calculation as it is ongoing transfer to the Reserve Fund, the
net expenditures remain the same and the revenues and expenditures are 88 7%
and 95 2% respectively
2 11 The Operations Department net expenditures are 90 9% of the second quarter
2013 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 As of the second quarter, Operation revenues
are lower as we have only received waste transfer royalties up to March 2013
Also revenue for winter maintenance in subdivisions is comparable the same
time last year at 53 8% of the total 2013 budget However, the timing of the
budget allocation is higher in the first half thereby showing a revenue budget
variance This should be smoothed out over the next quarter Operation
expenditures are in line with the second quarter budget at 92 1% which is similar
to the previous year at 96 4% of the second quarter budget
2 12 Community Services net expenditures are 86 6% of the second quarter 2013
budget Revenues are at 103 7% and total expenditures are at 91 6% as of
June 30, 2013 Overall, there is a varied increase in Community Services
revenues Similar to the first quarter, program revenues aquatic, fitness and
children's' camp, are higher than the second quarter budget amount Rental
revenues are slightly lower than previous years with the notable exception of
Darlington Sports Complex ice rentals that increased over previous year In
general, the quarterly trends in budget are consistent in Community Services
revenues and expenditures Operating expenditures are at 92 1% of the second
quarter budget comparable to the previous year at 91 2%
2 13 The Planning Department net expenditures as of June 30, 2013 are 95 2% of the
2013 second quarter budget The expenditures are in line with the budget as of
June 30, 2013 at 96 3% Overall, Planning revenue is slightly higher than the
second quarter budget The higher revenue in the first quarter (229% in the first
quarterly report) has now smoothed out over the six months Planning
expenditures are generally below the second quarterly budget There are some
savings due to staffing leaves
2 14 The Board and Agencies include the Library, Museum and Visual Arts Centre
These expenditures are in line with the budget In the second quarter, the
Library received funds for a computer system update These funds had been set
REPORT NO.: FND-012-13 PAGE 5
aside in previous years in the Library Computer Equipment Reserve Fund The
entry is posted to the Library account and the offsetting transfer from the Reserve
Fund is posted in the 05 Non-Department Accounts
2 15 Attachment "B", Continuity of Taxes Receivable for the six months ending June
30, 2013 provides the status of the taxes billed and collected by the Municipality
of Clarington during the second quarter of 2013 A total of$34,674,118 in
interim tax bills and $31,022,865 in final tax bills were issued to property owners
in the Municipality during this period At the end of June 2013, a total of
$12,569,751 remains unpaid compared to June 2012 taxes receivable of
$14,513,651 The net balance is $1,943,900 lower or 13 4% lower than the prior
year at this time This is a significant improvement compared to the second
quarter of 2012 This can be mainly attributed to the finalization of the
commercial property sale in tax arrears as discussed in a previous memo in
December 2012 In addition, another factor as mentioned in FND-008-13
Financial Update First Quarter 2013 is the increase in tax write offs due to the
timing of ARB decisions on commercial properties in the first quarter Ongoing
collection efforts are showing success
2 16 Attachment "C", Investments Outstanding as of June 30, 2013 provides the
status of the Municipality's general, capital and reserve fund investment holdings
at the end of the second quarter in 2013 The Municipality at June 30, 2013
holds $0 in general fund investments, $0 in capital fund investments, $8,674,099
in Development Charge reserve fund investments and $47,359,323 03 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 assessed on an ongoing basis
to ensure they meet the requirements of Section 418 on the Ontario Municipal
Act, Ontario Regulation 438/97 and the Municipality's investment policy
Currently, 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 reviewed on a regular basis Added to the report are the Development
Charge investments with the One Fund The One Fund Investment Program is a
pooled investment program for municipalities It is operated by LAS and CHUMS
Financing Corporation which are subsidiaries of AMO and MFOA
2 17 Attachment "D", Debenture Repayment Schedule provides the status of the
Municipality's long-term obligations as of January 1, 2013 The Municipality has
$21,839,480 59 in outstanding debt as of January 1, 2013 and debt repayment
obligations of $3,405,690 41 for 2013 as reflected in the 2013 budget The
REPORT NO.: FND-012-13 PAGE 6
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 18 Attachment "E", Municipal Development Charges as of June 30, 2013 provides
the total Municipal development charges collected of$3,045,252 07 In the
2010 Development Charges Background Study, it was forecasted that the
municipality would be collecting approximately 854 residential units total for 2013
or approximately 71 units per month The year to date figure for the second
quarter in 2013, there were 198 units
2 19 Analyzing the number of units issued in the second quarter of 2013, there was a
decrease of 31% compared to the same quarter in 2012 Comparing the total
dollars collected as of June 30, 2013 to the same time in 2012, there was a
decrease of 31% in municipal development charges collected
3.0 CONCURRENCE — not applicable
4.0 CONCLUSION
41 The report is provided as information to Council Ongoing reports will be
provided quarterly
CONFORMITY WITH STRATEGIC PLAN —
The recommendations contained in this report conform to the general intent of the
following priorities of the Strategic Plan
_ Promoting economic development
X Maintaining financial stability
Connecting Clarington
_ Promoting green initiatives
Investing in infrastructure
_ Showcasing our community
_ Not in conformity with Strategic Plan
Staff Contact Nancy Taylor, B B A , C A , Director of Finance/Treasurer
Attachments
Attachment "A" Summary of Operating and Expenditure and Revenue
Attachment "B" Continuity of Taxes Receivable
Attachment "C" Investments Outstanding
Attachment "D" Debenture Repayment Schedule
Attachment "E" Municipal Development Charges
THE MUNICIPALITY OF CLARINGTON I i 1 1 ATTACHMENT"A"
SUMMARY OF OPERATING EXPENDITURES&REVENUES FOR THE SIX MONTHS ENDING JUNE 30,2013
2013 2013 2013 YTD 2013 YTD 2012 2012 2012 YTD 2013 Qtr 2 2013 Qtr 2 Quarter 2013 2013
Budget YTD Actual YTD Unexpended($) %Expended Budget YTD Actual YTD Unexpended$ YTD Budget YTD Actuals %Expended Total Budget %of Annual
Budget Spent
05 NON-DEPT L ACCTS
Revenue/Recoveries (2,735,721) (3,276,351) 540,630 1198% (1,701,576) (3,224,132) 1,522,556 (2,690,147) (3,199,878) 1189% (6,894,007)
475%
Expenditures 184,500 184,500 0 1000% 184,500 184,500 0 0 0 00% 210,769 875%
Net Expenditures (2,551,221) (3,091,851) 540,630 1212% (1,517,076) (3,039,632) 1,522,556 (2,690,147) (3,199,878) 1189% (6,683,238)
463%
10 MAYOR&COUNCIL
Net Expenditures 446,182 395,035 51,147 885% 435,002 390,088 44,914 212,124 184,486 8697% 870,733 45 4%
13 ADMINISTRATOR'S OFFICE
Net Expenditures 295,833 283,152 12,681 957% 225,003 235,040 (10,037) 140,252 135,827 968% 598,176 473%
14 LEGAL ADMIN
Revenue/Recoveries (20,045) (31,267) 11,222 1560% (89,309) (19,653) (69,656) (11,672) (19,016) 1629% (128,000) 2441/.
Expenditures 247,302 259,439 (12,137) 1049% 248,049 264,149 (16,100) 146,767 152,647 1040% 532,088 488%
Net Expenditures 227,257 228,172 (915) 1004% 158,740 244,496 (85,756) 135,095 133,631 989% 404,088 565%
16 CORPORATE SERVICES
Revenue/Recoveries (66,579) (53,410) (13,169) 802% (56,497) (72,602) 16,105 (19,116) (2,350) 123% (96,500) 553%
Expenditures 2,238,906 2,125,387 113,519 949% 2,203,071 2,084,637 118,434 1,105,839 1,130,237 1022% 4,366,498 487%
Net Expenditures 2,172,327 2,071,977 100,350 954% 2,146,574 2,012,035 134,539 1,086,723 1,127,887 1038% 4,269,998 485%
i
19 CLERK'S
Revenue/Recoveries (451,070), (302,899), (148,171) 672% (331,803) (392,425) 60,622 (188,493) (205,315) 1089% (738,600)
410%
Expenditures 1,444,766 1,400,568 44,198 969% 1,218,863 1,251,573 (32,710) 762,682 882,889 1158% 2,859,195 490%
Net Expenditures 993,696 1,097,669 (103,973) 1105% 887,060 859,148 27,912 574,189 677,574 1180% 2,120,595 518%
21 FINANCE&UNCLASS ADMIN
Revenue/Recoveries (766,783) (939,122)i 172,339 1225% (731,106) (966,042) 234,936 (421,145) (488,999) 1161% (1,567,000)
599%
Unclassified Admm&Board of Tr 1,235,169 1,504,395 (269,226) 1218% 748,456 1,103,153 (,354,697) 520,091 695,977 1338% 2,217,200 679%
Operating Expenditures 1,132,379 1,037,426 94,953 916% 1,029,867 1,019,246 10,621 530,109 508,837 960% 2,201,993 471%
Expenditures 2,367,548 2,541,821 (174,273) 1074% 1,778,323 2,122,399 (344,076) 1,050,200 1,204,814 1147% 4,419,193 575%
Net Expenditures 1,600,765 1,602,699 (1,934) 1001% 1,047,217 1,156,357 (109,140) 629,055 715,815 1138% 2,852,193 562%
i
28 EMERGENCY SERVICES-FIRE
Revenue/Recoveries (11,749) (30,947) 19,198 2634% (10,847) (21,981) 11,134 (6,629)1 (9,816) 148 08% (49,000) 632%
Expenditures 5,413,112 I 4,964,752 448,360 9171% 5,108,536 4,794,677 313,859 2,790,498 2,735,333 98 02%. 10,364,679 47 9
Net Expenditures 5,401,363 4,933,805 467,558 91 3% 5,097,689 4,772,696 324,993 2,783,869 2,725,517 97 90% 10,315,679 47
8
0 D
o
0
o. m
0
N
W
THE MUNICIPALITY I ATTACHMENT"A"
SUMMARY OF OPERATING EXPENDITURES&REVENUES FOR THE SIX MONTHS ENDING JUNE 30,2013
2013, 2013' 2013 YTD 2013 YTD 2012 2012 2012 YTD 2013 Qtr 2013 Qtr Quarter 2013 2013
Budget YTD Actual YTD Unexpended($) %Expended Budget YTD Actual YTD Unexpended$ YTD Budget YTD Actuals %Expended Total Budget %of Annual
Budget Spent
32 ENGINEERING SERVICES
Revenue/Recoveries (871,542) (1,039,488) 167,946 1193% (560,712) (1,144,143) 583,431 (460,886) (710,448) 1541% (1,559,050)
667%
Expenditures 3,770,078 3,853,438 (83,360) 1022% 3,609,959 3,481,634 128,325 2,890,026 3,076,947 1065% 5,475,757 7041/6
Net Expenditures 2,898,536 2,813,950 84,586 971% 3,049,247 2,337,491 711,756 2,429,140 2,366,499 974% 3,916,707 71 8%
36 OPERATIONS
Revenue/Recoveries (286,569) (235,339) (51,230) 821% (116,935) (180,567) 63,632 (208,580) (185,319) 888% (543,665)
433%
Operating Expenditures 7,038,365 6,617,534 420,831 940% 6,591,501 6,355,115 236,386 3,617,270 3,697,594 1022% 13,337,745 496%
Fleet&Debenture Payment 605,618 307,6971 297,921 508% 497,327 297,412 199,915 250,196 259,269 1036% 935,055 329%
Expenditures 7,643,983 6,925,231 718,752 906% 7,088,828 6,652,527 436,301 3,867,466 3,956,863 1023% 14,272,800 485%
Net Expenditures 7,357,414 6,689,892 667,522 909% 6,971,893 6,471,960 499,933 3,658,886 3,771,544 1031% 13,729,135 487%,
42 COMMUNITY SERVICES
Revenue/Recoveries (2,396,615) (2,485,893) 89,278 1037% (2,365,130) (2,321,835) (43,295) (805,838) (835,039) 1036% (4,555,570)
546%
Operating Expenditures 4,819,1631 4,437,584 381,579 921% 4,641,077 4,233,898 407,179 2,489,517 2,389,856 960% 9,471,148 469%
Annual Grants&Debenture Payments 3,329,010 3,029,213 299,797 910% 3,117,005 3,117,005 0 60,000 53,250 888% 3,329,010 91 0%
Expenditures 8,148,173 7,466,797 681,376 916°/ 7,758,082 7,350,903 407,179 2,549,517 2,443,106 958% 12,800,158 583%
Net Expenditures 5,751,558 4,980,904 770,654 866% 5,392,952 5,029,068 363,884 1,743,679 1,608,067 922% 8,244,588 604%
50 PLANNING SERVICES
Revenue/Recoveries (214,668) (231,466) 16,798 1078% (208,523) (349,205) 140,682 (167,861) (124,454) 741% (467,500)
495%
Expenditures 2,277,218 2,193,960 83,258 963% 2,297,204 2,238,344 58,860 1,433,083 1,438,289 10041% 3,797,152 578%
Net Expenditures 2,062,550 1,962,494 100,056 951% 2,088,681 1,889,139 199,542 1,265,222 1,313,835 1038% 3,329,652 589%
BOARDS&AGENCIES
Net Board&External Agencies 3,744,7651 3,920,378 (175,613) 1047% 3,603,433 3,604,409 976 1,155,588 1,331,460 1152% 3,749,490
1046%.
i
TOTAL OPERATING
Revenue/Recoveries (7,821,341) (8,626,182); 804,841 1103% (6,172,438) (8,692,585) 2,520,147 4,980,367) (5,780,634) 1161% (16,598,892)
520%
Expenditures 38,222,366 36,514,458 1,707,908 955% 35,758,853 34,654,880 1,103,973 18,104,042 18,672,898 1031% 64,316,688 568%
Net Operating Expenditures 30,401,025 27,888,276 2,512,749 91 7% 29,586,415 25,962,295 3,624,120 13,123,675 12,892,264 98 24% 47,717,796 584%
I
2of2
Attachment "B"
to Report FND-012-13
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Continuity of Taxes Receivable
for the Second Quarter of the Year 2013
March 31,2013 JUNE JUNE
F_ BEGINNING BALANCE INTEREST TAXES PAYMENTS/ 2013 2012
RECEIVABLE ADDED BILLED BALANCE ADJUST***
I T_ F
CURRENT YEAR
TAXES (5,364,281) 65,696,983 60,332,702 (52,396,462) 7,936,240 7,771,411
PENALTY AND INTEREST 25,926 175,044 200,970 107,029 93,941 99,393
FIRST PRIOR YEAR
TAXES 4,462,498 - 4,462,498 (1,280,860) 3,181,638 4,081,032
PENALTY AND INTEREST 245,645 148,754 394,399 182,891 211,508 288,583
SECOND PRIOR YEAR
TAXES 1,584,399 1,584,399 (749,500) 834,899 1,375,878
PENALTY AND INTEREST 166,537 45,912 212,449 127,833 84,615 143,356
THIRD&PRIOR YEARS
TAXES 852,031 852,031 (683,104) 168,927 629,016
PENALTY AND INTEREST 248,917 15,329 264,246 206,263 57,983 124,983
SUB-TOTAL 2,221,671 385,039 65,696,983 68,039,447 55,527,679 12,569,751 14,513,651
ITOTAL 2,221,671 1 385,039 1 65,696,983 1 68,039,447 (65,527,679)1 12,569,751 1 14,513,651
*** Includes refunds,write-offs,357's,etc
NOTES
2013 Interim Instalment months February and April
2013 Final Instalment months June and September for non-capped classes
Attachment "C"
CORPORATION OF MUNICIPALITY OF CLARINGTON to Report FND-012-13
INVESTMENTS OUTSTANDING
As at June 30,2013
ORIGINAL
ISSUER OF TYPE OF I PURCHASE FUND COST OF I INTEREST I MATURITY MATURITY
INVESTMENT JINVESTMENTI DATE I I INVESTMENT I RATE I DATE I AMOUNT
GENERALFUND
TOTAL GENERAL FUND
CAPITAL FUND
TOTAL CAPITAL FUND
NON DEV CHARGE MONIES
BNS GIC 30-Jul-09 RIF 2,060,630 00 310% 30-Jul-13 2,328,277 00
TD GIC 28-May-13 RIF 2,000,000 00 140% 26-Aug-13 2,006,904 11
RBC GIC 30-Sep-08 RIF 946,770 00 440% 30-Sep-13 1,174,213 00
RBC GIC 14-Oct-08 RIF 574,200 00 430% 15-Oct-13 598,890 60 (B)
ING GIC 03-Dec-12 RIF 759,557 00 165% 03-Dec-13 772,089 97
BNS GIC 16-Dec-08 RIF 1,338,742 00 4 l 5% 16-Dec-13 1,640,564 30
BMO GIC 07-Mar-11 RIF 1,000,000 00 275% 09-Mar-14 1,084,790 00
RBC GIC 15-Mar-11 RIF 1,672,368 00 265% 17-Mar-14 1,808,875 64 (B)
Laurentian GIC 02-May-12 RIF 1,000,000 00 215% 02-May-14 1,043,462 25
BNS GIC 17-Aug-09 RIF 1,600,000 00 320% 17-Aug-14 1,893,626 00 (B)
BMO GIC 12-Sep-11 RIF 983,080 00 180% 12-Sep-14 1,037,127 61
Manullfe Bank GIC 20-Sep-11 RIF 742,599 00 205% 22-Sep-14 789,211 47
PROV ONTARIO STRIP BOND 05-Aug-09 RIF 999,807 77 335% 02-Dec-14 1,191,382 00
BMO GIC 07-Dec-10 RIF 1,000,000 00 260% 08-Dec-14 1,013,000 00 (A)
BNS GIC 01-Jun-12 RIF 1,500,632 00 235% 01-Jun-15 1,608,632 21 (B)
BMO GIC 26-Sep-11 RIF 624,188 00 200% 28-Sep-15 675,641 17
RBC GIC 07-Dec-11 RIF 1,922,733 00 235% 07-Dec-15 2,109,941 00
RBC GIC 07-Dec-11 RIF 1,976,951 00 235% 07-Dec-15 2,169,438 00
BMO coupons 15-Mar-12 RIF 176,636 37 254% 28-Mar-16 195,351 00
ING GIC 02-May-13 RIF 1,001,980 00 190% 02-May-16 1,060,184 88
Manullfe Bank GIC 20-Sep-11 RIF 2,000,000 00 260% 20-Sep-16 2,273,876 11
BMO coupons 15-Mar-12 RIF 213,067 68 261%_
61% 28-Sep-16 239,375 00
ING GIC 01-Oct-12 RIF 1,819,048 00 235% 03-Oct-16 1,996,160 91
Manullfe Bank GIC 02-Dec-11 RIF 2,000,000 00 271% 02-Dec-16 2,286,091 67
Manullfe Bank GIC 19-Mar-12 RIF 1,693,000 00 288% 19-Mar-17 1,951,224 70
BMO coupons 15-Mar-12 RIF 159,396 18 286% 28-Mar-17 183,615 00
RBC GIC 01-May-13 RIF 1,000,000 00 210% 01-May-17 1,086,683 24
BMO coupons 15-Mar-12 RIF 196,287 25 2 920/. 28-Sep-17 230,141 00
CWB GIC 01-Oct-12 RIF 3,500,000 00 255% 01-Oct-17 3,969,596 54
BNS GIC 30-Oct-12 RIF 1,884,365 00 250% 30-Oct-17 2,131,986 04
HSBC GIC 21-Dec-12 RIF 1,121,354 00 240% 21-Dec-17 1,262,352 30
National Bank GIC 08-Jan-13 RIF 1,900,503 00 240% 08-Jan-18 2,139,776 15
National Bank GIC 12-Feb-13 RIF 1,927,464 00 245% 12-Feb-18 2,175,434 89
National Bank GIC 04-Mar-13 RIF 741,320 00 245% 05-Mar-18 836,748 00
ING GIC 25-Mar-13 RIF 1,254,427 00 240% 26-Mar-18 1,412,449 93
HSBC GIC 13-May-13 RIF 321,079 00 225% 14-May-18 358,862 84
BNS GIC 03-Jun-10 RIF 1,499,069 00 230% 03-Jun-18 1,679,576 51
Prov NB coupons 27-Jun-13 RIF 248,068 78 259% 03-Dec-18 285,071 00
47,359,323 03 52,700,624 04
DEV CHARGE FUNDS
BNS GIC 20-Dec-12 RIF 3,000,000 00 150% 20-Dec-13 3,048,000 00
BMO GIC 20-Dec-12 RIF 1,645,027 00 145% 20-Dec-13 1,668,879 89
One Fund Equity 31-Jan-07 RIF 500,000 00 500,000 00
One Fund Bond 08-Aug-00 RIF 3,529,072 27 3,529,072 27
8,674,099 27 8,745,952 16
TOTAL INVESTMENTS $ 56,033,422 30 $ 61,446,576 20
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"
to Report FND-012-13
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
Debenture Repayment Schedule As of January 1,2013
Year South Courtice Indoor Soccer/ RRC Newcastle Newcastle Total
Arena Lacrosse CCD Space Library Aquatic
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 1,071,000 00 1,124,537 34
2022 1,023,750 00
2023+
5,408,052 50 2,096,442 00 910,134 78 1,075,479 38 16,212,474 50 25,702,583 16
Principal
at Jan 1/2013 5,105,000 00 1,902,000 00 764,480 59 861,000 00 13,207,000 00 21,839,480 59
Principal
at Jan1/2014 4,120,000 00 1,670,000 00 695,677 76 800,000 00 12,002,000 00 19,287,677 76
Interest Rates 1 55%to 2 30% 5 25%to 5 45% 512% 3 9%to 5 2% 4 3%to 4 75%
NOTES
(A) 2013 changed to accrual basis for interest Total budget is$3,405,690 41+297,496 09-330,440 87=$3,372,745 64
(B) 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"
to Report FND-012-13
MUNICIPAL DEVELOPMENT CHARGES
MONTH OF JUNE
2013 2012
MUNICIPAL NUMBER MUNICIPAL NUMBER %CHANGE OF
UNIT TYPE DEV CHARGES PAID OF UNITS DEV CHARGES PAID OF UNITS DEV CHGS 2013-2012
Single/Semi- Detached
-New construction $ 558,648 00 36 $ 685,980 00 47
-Additions $ - 0 $ - 0
Townhouse $ 270,340 00 20 $ 292,116 00 22
Apartment $ - 0 $ - 0
Commercial $ 50,942 18 2 $ 209,862 50 3
Agricultural $ - 0 $ - 0
Government $ - 0 $ - 0
Institutional $ - 0 $ - 0
Industrial $ - 0 1 $ - 0
TOTALI 879,930 18 1 58 1 $ 1,187,958 50 1 72 1 -25.9%
MUNICIPAL DEVELOPMENT CHARGES
JANUARY TO JUNE -YEAR TO DATE
2013 2012
MUNICIPAL NUMBER MUNICIPAL NUMBER %CHANGE OF
UNITTYPE DEV CHARGES PAID OF UNITS DEV CHARGES PAID OF UNITS DEV CHGS 2013-2012
Single/Semi- Detached
-New construction $ 2,226,676 54 144 $ 3,582,968 00 238
-Additions $ - 0 $ - 0
Townhouse $ 635,299 00 47 $ 544,398 00 41
Apartment $ - 0 $ - 0
Commercial $ 183,171.68 6 $ 289,560.00 7
Agricultural $ - 0 $ - 0
Government $ - 0 $ - 0
Institutional $ - 0 $ - 1
Industrial $ 104851 1 1 $ - 1
TOTALI 3,045,252 07 198 $ 4,416,926 00 288 -31.1%