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Home My WebLink AboutFND-010-15 Clarhigton Finance Department Report If this information is required in an alternate accessible format, please contact the Municipal Clerk at 905-623-3379 ext. 2102. Report To: General Purpose and Administration Committee Date of Meeting: May 25, 2015 Report Number: FND-010-15 " File Number: Department File# By-law Number: Report,Subject: Annual Statement for the Development Charges Reserve Fund for the Year Ended December 31, 2014 Recommendations: 1. That Report FND-010-15 be received; and 2. That a copy of this report be sent to the Ministry of Municipal Affairs and Housing. Municipality of Clarington Report FND-010-15 Page 2 Report Overview This report complies with the reporting requirements of Section 43 of Bill 98, to disclose the annual activity in Development Charges Reserve Fund for 2014. 1 . Background 1.1 In accordance 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, 2014. 1.2 For the year ended December 31, 2014, a total of 657 residential building permits were issued. Approximately 878 units were anticipated for 2014 in the 2010 development charges background study. A total of 36 capital fund and 17 revenue fund projects have been financed by the Development Charges. 2. Concurrence - Not applicable 3. Conclusion It is respectfully recommended that the annual statement for the Development Charges Reserve Fund be received for information. 4. Strategic Plan Application The recommendations contained in this report conform to the Strategic Plan. /i Submitted by: / % � r ' � ' Reviewed by: Y Nancy Tailor; BETA, CPA, CA Franklin Wu, Director of Finance/Treasurer Chief Administrative Officer Staff Contact: Nancy Taylor, Director of Finance/Treasurer, 905-623-3379 ext. 2601 or ntaylor @clarington.net Municipality of Clarington Report FND-010-15 Page 3 Attachments: Schedule "A" — Development Charges Reserve Funds statement Schedule "B" — Capital Expenses Schedule "C" — Revenue Fund Expenses Schedule "D" — Committed Amounts from Prior Years' Budgets/Council Approvals The following is a list of the interested parties to be notified of Council's decision: Municipal Finance Branch Ministry of Municipal Affairs and Housing 777 Bay Street, 13th floor Toronto, Ontario M5G 2E5 NT/LG/AY/hjl MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUNDS STATEMENT SCHEDULE A TO FOR THE 2014 YEAR REPORT FND-010-15 580 581 582 583 584 585 586 587 GENERAL LIBRARY FIRE PROTECTION INDOOR PARK DEV.& OPERATIONS ROADS AND PARKING TOTAL GOVERNMENT SERVICES SERVICES RECREATION RELATED FACILITIES RELATED Balance as of December 31,2014 862,012 153,588 2,171,846 1,458,422 1,879,996 11,601,723 232,168 18,359,755 PLUS: Development Charge Proceeds (197,804) (556,631) (472,240) (3,477,735) (735,783) (468,840 (4,318,801) (41,594) (10,269,428) Accrued Interest Apportionment (11,347) (4,002) (27,826) (3,854) (17,492) (26,074) (164,063) (3,085) (257,743) Transfer from Reserve Fund (795,932) (795,932) Transfer from Revenue Fund Transfer from Capital Fund SUBTOTAL 209,151 560,633 500,065 4,277,520 753,276 494,914 4,482,864 44,680 11,323,104 LESS: Amount Transferred to Capital Fund - - 310,203 - 872,338 151,439 1,871,436 - 3,205,416 Amount Transferred to Revenue Fund** 129,423 362,815 - 4,277,520 204,129 13,418 182,339 1,564 5,171,208 Repayment of Interim Financing from Reserve Funds - 161,704 - - - - - 161,704 SUBTOTAL 129,423 524,519 310,203 4,277,520 1,076,467 164,857 2,053,775 1,564 8,538,328 Closing Balance as of December 31,2014 941,740 189,702 2,361,708 1,135,231 2,210,053 14,030,812 275,284 21,144,530 Committed Amounts from Prior Years *** 698,320 231,429 280,935 - 407,716 387,923 4,010,113 2,990 6,019,427 Available at December 31,2014 243,420 41,727 2,080,773 727,515 1,822,130 10,020,699 272,294 15,125,104 Committed Amounts from 2015 Budget*"' 166,500 135,010 2,807,648 693,000 524,700 5,837,857 19,800 10,184,515 Balance remaining of Interim Financing from Reserve Funds - - 3,034,002 - - - - 3,034,002 Balance Available for Future Needs 76,920 176,737 2,080,773 5,841,650 34,515 1,297,430 4,182,842 252,494 1,906,587 * See Schedule B Total Development Charges collected on behalf of the Region in 2014 $4,617,689.65 See Schedule C Less: amounts paid to the Region 4,170,677.50 See Schedule D Total Development Charges due to the Region at December 31,2014 $ 447,012.15 2015 Budget(includes 2015 debenture payments) Note: brackets=funds available,no brackets=shortfall � MUNICIPALITY OF CLARINGTON SCHEDULE B DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2014 YEAR Total Expenses D/C R/F NON D/C R/F CAPITAL EXPENSES For 2014 FINANCING FINANCING DESCRIPTION D/C-EMERGENCY SERVICES Bowmanville Firehall Expansion 132,767 132,767 Newcastle Firehall Replacement 412,641 177,436 235,206 Mun Cap Wrks R/F 545,409 310,203 235,206 D/C-PARK DEVELOPMENT&RELATED FACILITIES Longworth Park 215,554 193,999 21,555 Eng Prks Cap R/F Port Darlington Waterfront Park East Beach 1,832,542 150,000 350,000 Mun Cap Wrks R/F 300,000 Eng Prks Cap R/F 858,181 Impact Escrow R/F 13,753 Developer Contribution 160,607 Roads Contrb R/F Tooley's Mill Park 236,750 211,077 23,453 Eng Prks Cap R/F 2,220 Eng Prks Cap R/F Knox Park 240,779 216,701 24,078 Eng Prks Cap R/F Westvale Parkette 111,463 100,317 11,146 Eng Prks Cap R/F Port Darlington Waterfront Park 272 245 27 Eng Prks Cap R/F 2,637,088 872,338 1,765,022 D/C-OPERATIONS New Equipment-2013 Roads 154,070 138,663 15,407 Mun Cap Wrks R/F New Equipment-2014 Roads 51,930 5,620 624 Mun Cap Wrks R/F 45,685 Operations Equip R/F Hampton Office Expansion 5,882 5,294 588 Mun Cap Wrks R/F Operations-Depot 42 consulting-construction pole barn/quonset but 2,070 1,863 207 Mun Cap Works R/F 213,952 151,439 62,512 D/C-ROADS AND RELATED Road reconstruction-Nelson Road 1,802 1,279 522 Mun Cap Wrks R/F Road reconstruction-Baseline Rd(Darlington Creek-West Side Dr) 2,184 2,053 131 Mun Cap Wrks R/F Road reconstruction-Stevens Road 1,072 1,072 - Road reconstruction-Trulls Rd(George Reynolds Dr-Daiseyfield Ave) 54,574 32,199 22,375 Mun Cap Wrks R/F Road reconstruction-Clarington Blvd Road Oversizing 113,340 113,340 - Road reconstruction-Lake Road Extension 1,272,685 891,664 381,021 Strategic Capital R/F Road reconstruction-Grady Drive 2013(Foster Creek) 8,290 8,290 - Road reconstruction-Port Darlington Waterfront Park 226,627 226,627 - Road reconstruction-Green Road North(Highway#2-Stevens Rd) 666 532 133 Mun Cap Wrks R/F Road reconstruction-North Scugog Court(West Scugog Lane-Conc Rd 3) 2,886 2,568 317 Mun Cap Wrks R/F Sidewalk construction-Trulls Road 19,429 19,429 - Sidewalk construction-Baseline Rd(Simpson Ave Realignment) 768 768 Sidewalk construction-Highway#2(Trulls Rd to Courtice Rd South) 192,366 192,366 Sidewalk construction-RR17(Mill St-CPR) 2,697 2,697 Sidewalk construction-Trulls Rd(Wilkens Cres-Methodist Church) 6,976 6,976 Sidewalk construction-Courtice Rd(Skinner Cres-George Reynolds) 13,578 13,578 Sidewalk construction-Prestonvale Road(North of Bloor) 7,996 7,996 Sidewalk construction-Scugog Street Rd(RehderAve-Jackman Rd) 69,162 69,162 - Street Lighting-Osborne Road 6,840 6,566 274 Mun Cap Wrks R/F Street Lighting-Liberty Street 10,541 10,541 - Bowmanville Creek Erosion(North of Longworth Ave) 238,210 158,866 79,344 Mun Cap Wrks R/F Bowmanville Creek Erosion(Jackman Rd) 804 538 265 Mun Cap Wrks R/F Foster Creek Remediation 41,701 27,939 13,761 Mun Cap Wrks R/F Longworth Pedestrian Signal 74,387 74,387 - 2,369,581 1,871,436 498,145 TOTAL CAPITAL EXPENSES 5,766,029 3,205,416 2,560,885 SUMMARY OF FINANCING: 310,203 D/C-Emergency Services R/F 872,338 D/C-Park Dev/Related Facilities R/F 151,439 D/C-Operations R/F 1,871,436 D/C-Roads and Related R/F 719,156 Municipal Capital Works R/F f 382,480 Engineering Parks Capital R/F 45,685 Operations Equip.R/F 160,607 Roads Contribution R/F 858,181 Impact Escrow R/F 381,021 Strategic Capital 13,753 Developer contribution TOTAL FINANCING 5,766,029 3,205,416 2,560,885 SCHEDULE C MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2014 YEAR Total Expenses D/C R/F NON D/C R/F REVENUE FUND EXPENSES For 2014 FINANCING FINANCING DESCRIPTION I D/C-GENERAL GOV'T Planning-Official Plan Review 36,902 310 34 Prof Fees Reserve 36,558 Federal Gas Tax R/F Legal-D/C 2010 OMB Hearing 77,405 69,664 1,242 Tax Levy 6,498 Prof Fees Reserve Fire Master Plan 2,137 1,923 214 Tax Levy Older Adults Strategy 50,414 45,372 5,041 Older Adults Oper R/F D/C-2015 Study 4,494 4,045 449 Prof Fees Reserve Financial Impact Analysis p Y 9,010 8,109 901 Prof Fees Reserve 180,361 129,423 50,938 D/C-LIBRARY SERVICES 2014 Holdback Pending D/C Appeal 227,882 227,882 - Contribution towards Debenture Debt-Newcastle Library 103,196 57,790 45,406 Tax Levy 2011 Library Collections Unexpended Funds to Library 110,000 77,143 32,857 Lib Cap R/F 441,078 362,815 78,263 D/C-INDOOR RECREATION 2014 Holdback Pending D/C Appeal 1,337,156 1,337,156 - Debenture Issue Legal Costs Payable to Region of Durham 425 425 - Contribution towards Debenture Debt-Bowmanville Indoor Soccer 309,750 278,775 30,975 Debt Retirement R/F Contribution towards Debenture Debt-Newcastle District Recreation Ctr 1,762,973 1,586,676 176,297 Tax Levy Contribution towards Debenture Debt-South Courtice Arena 1,074,488 1,074,488 - 4,484,792 4,277,520 207,272 D/C-PARK DEVELOPMENT&RELATED FACILITIES 2014 Holdback Pending D/C Appeal 196,504 196,504 - Parks Development-Consulting 8,472 7,624 847 Tax Levy 204,976 204,129 847 D/C-OPERATIONS 2014 Holdback Pending D/C Appeal 11,613 11,613 - Operations-Small Equipment Purchases 2,005 1,805 201 Mun Cap Wrks R/F 13,618 13,418 201 D/C-ROADS AND RELATED Engineering Consulting-Studies 53,186 53,186 - Engineering Consulting-Design 61,286 30,643 30,643 Tax Levy Contribution towards Debenture Debt-Green Road 90,605 90,605 - Engineering Professional Services-4th Street 5,515 2,758 2,758 Prof Fees Reserve Engineering Professional Services-North Street Orono 6,487 3,244 3,244 Prof Fees Reserve Debenture Issue Legal Costs Payable to Region of Durham 1,904 1,904 - 218,983 182,339 36,644 D/C-PARKING 2014 Holdback Pending D/C Appeal 1,564 1,564 - 1,564 1,564 - TOTAL REVENUE FUND EXPENSES 5,545,373 5,171,208 374,165 SUMMARY OF FINANCING; 129,423 D/C-General Goverment 362,815 D/C-Library Services 4,277,520 D/C-Indoor Recreation 204,129 D/C-Park Dev/Related Facilities 13,418 D/C-Operations 182,339 D/C-Roads and Related 1,564 D/C-Parking 201 Municipal Capital Works R/F 30,975 Debt Retirement R/F 36,558 Federal Gas Tax 254,649 Tax Levy 13,884 Professional Fees Reserve 5,041 Older Adults Oper R/F 32,857 Lib Ca R/F TOTAL FINANCING 5,545,373 5,171,208 374,165 I SCHEDULE D MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2014 YEAR COMMITTED AMOUNTS FROM PRIOR YEARS'BUDGETS/COUNCIL APPROVALS i YEAR PROJECT/DESCRIPTION AMOUNT COMMITTED RESERVE FUND: D/C-GENERAL GOVERNMENT 2007 Operating Plan-Official Plan Review 370,723 2011 Operating Planning Consulting Studies 162,000 2008 Capital Operations-Master Plan 28,836 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 13,963 2012 Operating Fire-Master Plan 3,396 2014 Operating D/C-2010 Appeal 24,819 2014 Operating Older Adults Strategy 8,628 2014 Operating D/C-2015 Study 85,955 Total Commited: 698,320 RESERVE FUND: D/C-LIBRARY SERVICES 2012 Operating Library Collection-Purchase of Add'I Resources in all Formats 231,429 Total Commited: 231,429 RESERVE FUND: D/C-EMERGENCY SERVICES 2012 Capital Newcastle Fire Hall#2-Admin Funds for relocation&Construction 191,476 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 33,386 2013 Capital Bunker Gear 9,525 2014 Capital Expansion to H.Q Station 46,548 Total Commited: 280,935 RESERVE FUND: D/C-INDOOR RECREATION 2010 Balance remaining of Interim Financing from Reserve Funds 747,054 2011 Balance remaining of Interim Financing from Reserve Funds 228,246 2012 Balance remaining of Interim Financing from Reserve Funds 962,294 2013 Balance remaining of Interim Financing from Reserve Funds 1,096,407 Total Commited: 3,034,002 RESERVE FUND: D/C-PARK DEVELOPMENT&RELATED FACILITIES 2006 Capital Waverly Road, Bowmanville-Landscape Feature Area/Plantings/Sign/Lighting 101,589 2011 Capital Port Darlington Waterfront Park 25,463 2013 Capital Longworth Park-Splash Pad/Walkways/Benchs/Shade Structure 77,432 2014 Capital Westvale Parkette 89,683 2014 Capital Knox Neighbourhood Park 113,549 Total Commited: 407,716 RESERVE FUND: D/C-OPERATIONS 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 33,029 2012 Capital Hampton Office Expansion 12,706 2013 Capital Depot 42 Operations Centre-Construction of Pole Barn/Quonset Hut 280,237 2013 Capital Fleet New-Roads(Radios&Salt Management) 2,771 2014 Capital Fleet New-Roads Salt Brine Tanks&Small Equip Upgrades). 59,180 Total Commited: 387,923 Page 1 of 2 SCHEDULE D MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2014 YEAR COMMITTED AMOUNTS FROM PRIOR YEARS'BUDGETS/COUNCIL APPROVALS YEAR PROJECT/DESCRIPTION AMOUNT COMMITTED ` RESERVE FUND: D/C-ROADS AND RELATED 2010/2014 Capital . Osbourne Road 503,533 2010/2011 Capital Green Road-635 m North of Stevens Road 45,655 2011 Capital Caarington Blvd, Bowmanville-Uptown to 370m north-Reimburse Collector Rds Construction 87,458 2011 Capital Rudell Road Reconstruction 62,645 2011 Capital North Scugog Court 883,316 2011 Capital Liberty Street DC Sidewalk 30,000 2011 Capital Baseline Road Sidewalk-Green Road to Westside Drive 75,248 2011 Capital Brookhill Tributory Nick Point Remedial Work 7,101 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 190,959 2012 Capital Soper Creek Erosion Control 6,018 2013 Capital Osborne Road-Streetlighting 133,641 2013 Capital Port Darlington Waterfront Park East Beach Phase 1 115,273 2013 Capital Stevens Road, Bowmanville Extension-Road Reconstruction 16,880 2013 Capital Green Rd. North Road Reconstruction Surface Asphalt 31,636 2013/2014 Capital Grady Dr(@ Foster Creek) 63,431 2013 Capital Third Street Surface Asphalt(Elgin St.-High St.) 3,454 2013 Capital High St. Reconstruction-Third St.-Fourth St. 3,450 2013 Capital Nelson Street Rd. Reconstruction(Hunt St.-Ontario St.) 47,918 2013 Capital Energy Drive Extension 55,837 2013 Capital Baseline Rd. Reconstruction-Darlington Creek to West Side Drive Surface Asphalt 62,738 2013 Capital Trulls Rd. Reconstruction 70,858 2013 Capital George Reynolds Drive Connecting Link(Courtice Rd.-Harry Gay Dr.) 27,042 2013 Capital Concession Rd. 3(Liberty St.-Jollow Dr.)Design 31,453 2013 Capital Concession Rd. 3(Middle Rd.-Liberty St.) 57,935 2013 Capital Concession Rd.3(#57-Middle Rd.) 79,743 2013 Capital Lake Road Extension 399,825 2013 Capital Sidewalk-Trulls Rd.(George Reynolds Dr.-Nash Rd.) 14,937 2013/2014 Capital Sidewalk-Osborne Road(Energy Dr.-Southern Limit) 47,549 2013/2014 Capital Longworth Ave. Intersection Pedestrian Signal @ Brooking St.&Clayton Cres 105,613 2013 Capital Bowmanville Creek Erosion Protection North @ Jackman Rd. 7,288 2013 Capital Bowmanville Creek Erosion Protection South of Goodyear Dam 15,000 2014 Operating Engineering Consulting-Design 30,613 2014 Capital Liberty Street Lighting 99,459 2014 Capital Brookhill Blvd Oversizing 310,000 2014 Capital Sidewalk Hwy#2-Trulls Road to Courtice Rd South Side 26,634 2014 Capital Sidewalk-Regioinal Road 57 Mulit-Use Trail(Nash Rd to Longworth Ave)W.Side 5,000 2014 Capital Sidewalk-Prestonvale Rd. (Meadowglade Rd.-Oke Rd.) 6,004 2014 Capital Scugog St Sidewalk(Rehder Ave to Jackman Rd)West side 238 2014 Capital Courtice Rd.(Skinner Crt to George Reynolds Dr.) 2,422 2014 Capital Trulls Rd(Wilkins Cres to Methodist Church) 1,024 2014 Capital RR 17 Sidewalk-East Side(Mill St N to CPR) 198,303 2014 Capital Foster Ck Remediation 60 m South of King Ave 35,398 2014 Capital Bowmanville Crk Erosion Protection North of Longworth Ave add'I from Jackman 11,584 Total Commited: 4,010,113 RESERVE FUND: D/C-PARKING 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 2,990 Total Commited: 2,990 ITOTAL COMMITTED TO DEVELOPMENT CHARGES RESERVE FUNDS 9,053,429 Page 2 of 2