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Home My WebLink AboutFND-008-05 Clw:inglOn REPORT FINANCE DEPARTMENT Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE Date: MONDAY, JUNE 20, 2005 Resolution #:t?fJlfr:7lJC;6'" Report #: FND-008-05 File #: By-law #: O\OO~- 1{3...! Subject: ANNUAL STATEMENT FOR THE DEVELOPMENT CHARGES RESERVE FUNDS FOR THE YEAR ENDED DECEMBER 31, 2004 Recommendations: It is respectfully recommended the General Purpose and Administrative Committee recommend to Council the following: 1. THAT Report FND-008-05 be received for information; and 2. THAT a copy of this report be sent to the Minister of Municipal Affairs and Housing. Reviewed bya~ _0 ~ Franklin Wu Chief Administrative Officer NMT/hjl REPORT NO.: FND-008-05 PAGE 2 BACKGROUND 1.0 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, 2004. 2.0 For the year ended December 31,2004, a total of 1015 residential building permits were issued. Approximately 826 units were anticipated for 2004 in the development charge study review and update. Also, a total of 20 capital projects have been financed by the Development Charges Reserve funds. Attachments: Schedule "A" - Development Charges Study Review and Update Schedule "B" - Committed Amounts from Prior Years' Budgets/Council Approvals Schedule "C" - Capital Expenditures Interested Parties: Municipal Finance Branch Ministry of Municipal Affairs and Housing 777 Bay Street, 13th floor Toronto, Ontario M5G 2E5 CORPORATION OF THE MUNICIPAliTY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1C 3A6 T (905)623-3379 F (905)623-4169 DNDCRF 2004 Prepared By: RB/June 10, 2005 MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUNDS STATEMENT FOR THE 2004 YEAR SCHEDULE A to Report FND-008-05 GENERAL LIBRARY FIRE INDOOR PARK DEV. PUBLIC WORKS ROADS AND STORMWATER TOTAL GOVERNMENT BOARD DEPARTMENT RECREATION AND FACILITIES DEPARTMENT RELATED DRAtNAGE & CONTROL SERVo Balance as of December 31, 2003 (28;.459) 98,020 (1,3;4,518) (871,155' (706,859' (891,532 (6,835,744 - (10,869,24; PLUS: Development Charge Proceeds (310.232) (377 .642) (488,352) (1 ';3;,304) (981,870) (482,939) (3,44S,279) - (7,823,619) Accrued Interest Apportionment (4,653) (636) (19.213) (12,991) (15,255) (13,665) (92,377) - (158,790) Transfer from Reserve Fund - - - - - - - - - Transfer from Capital Fund - - - Transfer from Revenue Fund - - - - - - - - - SUBTOTAL (314,886 378,278 (507,565 (1,750,296 (997,124 (496,604 (3,537.656 - (7.982,409 LESS: Amount Transferred to Capital Fund * - - 167.325 - 85,993 120,329 3,111,602 - 3,485,249 Transfer to Revenue Fund 114,067 119,200 - 1,161,599 - - 95,835 - 1,490,702 - - - - - - - - SUBTOTAL 114,067 119,200 167,325 1,161,599 85.993 120,329 3,207,437 - 4,975,951 Closina Balance as of December 31, 2004 (488,277 (161,057 (1,714,758 (1,459.851 (1,61i,990 (1,267,808 (7,165,964 - (13,875,;05 Committed Amounts from Prior Years ** 133,771 - 1i4,334 - ;16,488 249,260 1,401,809 - 2,675,662 Balance Available for Future Needs (354,506) 161,057 (1,540,423 (1,459,851) (901,502 (1,018,548 5,;64,154 - 111,200,042 ... See Schedule C ** See Schedule B NOTE: Total Development Charges collected on behalf of the Region in 2004 Less: Amounts paid to the Region Total Development Charges due to the Region at December 31, 2004 9,983,418 9.601 ';58 381,660 DN: DCRF 2004 Prepared By: RBIJune 10, 2005 Revised: RB/June 13, 2005 SCHEDULE B to Report FND-008-05 MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2004 YEAR COMMITTED AMOUNTS FROM PRIOR YEARS' BUDGETS/COUNCIL APPROVALS YEAR PROJECT I DESCRIPTION AMOUNT COMMITTED RESERVE FUND, GENERAL GOVERNMENT DEVELOPMENT CHARGE 2004 Council Planning Study - industrial lands 62,406 2004 Council Planning Study - growth study 14,780 2004 Council Development charges study 56,585 Total 133,771 RESERVE FUND, FIRE DEPARTMENT DEVELOPMENT CHARGE 2003 Capital Courtice Fire Station 174,334 Total 174,334 RESERVE FUND, PARK DEVELOPMENT & FACILITY DEVELOPMENT CHARGE 2003 Capital Budget Bowmanville Waterfront Redevelopment Feasibility Study 72,397 2003 Capital Budget South Courtice Community Park - Soccer Field 1 77,542 2004 Capital Parkland Development Implementation Plan 39,075 2004 Capital Park Development - Pearce Farm Park 527,474 Total 716,488 RESERVE FUND, PUBLIC WORKS DEPARTMENT DEVELOPMENT CHARGE 2004 Capital Transfer station dome rehabilitation 72,990 2004 Capital New equipment 176,270 Total 249,260 RESERVE FUND, ROADS AND BELA TED DEVELOPMENT CHARGE 2002 to 2004 Capital Road reconstruction 1,016,197 2003 Capital Traffic signals 176,815 2003 Capital Sidewalks 59,168 2004 Capital Street lights 77 ,337 2004 Council Traffic monitoring study 3,007 2004 Capital Courtice transportation study 44,175 2004 Capital Environmental study - south of Hwy 2 25,110 Total 1,401,809 TOTAL COMMITTED TO DEVELOPMENT CHARGES RESERVE FUNDS 2,675,662 DN:DCRF 2004 Prepared By: RBtJune 10, 2005 Revised: RBtJune 13, 2005 SCHEDULE C MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT to Report FND-008-0 FOR THE 2004 YEAR D/C RIF NON D/C R/f CAPITAL EXPENDITL'RES AMOUNT FINANCING FINANCING DESCRIPTION FIRE DEPARTME~T DEVELOPMENT CHARGE Gourtice Fire Station 1,200,655 167,325 DIG - Fire Dept 691,634 Municipal Capital Works RtF 334,096 ImpacUEscrow R/F 7,600 Region contribution PARK DEVELOPMENT & FACILITY DEVEWPMENT CHARGE Parkland Development Implementation Plan 5,605 5,100 DIG - Park Dev. & Facilities R/F 504 Tax Levy Park Development - Pearce Farm Park 22,048 19,096 DIG - Park Dev. & Facilities R/F 2,952 Developer contribution South Gourtice Community Park - Soccer Field 1 29,487 25,539 DIG ~ Park Dev. & Facilities R/F 3,948 Tax Levy Bowmanville Valley Trail 99,395 2,029 DIC - Park Dev. & Facilities R/F 97,366 Public Works & Parks Capital RIF Bowmanville Waterfront Redevelopment 15,829 14,404 DIG - Park Dev. & Facilities RtF 1,425 Tax Levy Guildwood Park 22,890 19,825 DIG - Park Dev. & Facilities RtF 3,065 Public Works & Parks Capital R/F PUBLIC WORKS DEPARTMENT DEVELOPMENT CHARGE Purchase New Equipment Hampton 160,054 120,329 D/C - Public Works Department RtF 39,712 Tax Levy 13 Municipal Capital Works RtF Page 1 of 2 DN:DCRF 2004 Prepared By: RB/June 10, 2005 Revised: RB/June 13, 2005 SCHEDULE C MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2004 YEAR DIC RtF NOS ole HIF CAPITAL EXPENDITURES AMOUNT FINANCING FINANCI""G DESCRIPTION ROADS A"'D RELATED DEVF.LOPMENT CHARGE Preslonvale Road, Courtice . Street Lighting 36,177 26,307 D/C - Roads and Related RtF 9,869 Tax Levy Longworth Avenue, Courtice - Street lighting 5,566 4,703 D/C - Roads and Related RtF 863 Tax Levy Longworth Avenue, Bowmanville . Bridge 3,402,935 2,592,222 DtC - Roads and Related RIF 374,216 Municipal Capital Works 101,281 Roads Contribution R/F 335,216 Developer contribution Roenigk Drive, Bowmanville - Traffic Signals 206,330 187,761 D/C - Roads and Related R/F 18,570 Tax Levy Mearns Avenue, Bowmanville. Surface Asphalt 7,665 6,348 D/C . Roads and Related R/F 1,317 Tax Levy Concession/Elgin Streets, Bowmanville - Surtace Asphalt 8,158 2,598 D/C . Roads and Related R/F 5,560 Tax Levy Hunt Street, Bowmanville . Reconstruction 67,642 23,675 DIC . Roads and Related RIF 43,967 Tax Levy Prestonvale Road, Gourtice. Reconstruction (2004) 118,333 92,809 D/C - Roads and Related RtF 25,524 Tax Levy Prestonvale Road, Gourtice - Reconstruction (2002) 25,174 19,744 DtC - Roads and Related RtF 3,356 Working Funds Reserve 2,074 General Capital Reserve Foxhunt Walkway, Gourtice 5,200 4,732 DIG - Roads and Related RtF 468 Tax Levy Enniskillen Sidewalk construction 244,169 150,195 D/C - Roads and Related RIF 93,974 Tax Levy Green Road Railway, Bowmanville 508 462 DIG - Roads and Related R/F 46 Developer contribution TOTAL CAPITAL EXPENDITURES 5,683,818 3,485,204 2,198,615 SCMMARY OF fJ""ANCING: 167,325 D/C - Fire Dept 85,993 o/C - Park Dev. & Facilities RtF 120,329 DIG. Public Works Department R/F 3,111,556 D/C - Roads and Related R/F 1,065,863 Municipal Capital Works RtF 334,096 ImpacUEscrow R/F 100,431 Public Works & Parks Capital RtF 101,281 Roads Contribution RtF 245,701 Tax Levy 3,356 Working Funds Reserve 2,074 General Capital Reserve 7,600 Region contribution 338,214 Developer contribution TOTAL FINANCING 3,485,204 2,198,615 Page2of2