HomeMy WebLinkAboutFND-001-04
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REPORT #2
ClfJl-!lJgton
REPORT
FINANCE DEPARTMENT
Meeting:
COUNCIL
Date:
MONDAY, JANUARY 19, 2004
Resolution #: C-02SCl''t
Report #: FND-001-04
File#:
By-law #:
Subject:
2004 COMMUNITY REINVESTMENT FUND
Recommendations:
It is respectfully recommended to Council the following:
1, THAT Report FND-001-04 be received;
2. THAT the Province be notified that the Municipality of Clarington intends to use
the 2004 CRF allocation for the benefit of taxpayers by using it to offset the tax
levy; and
3. THAT the Municipality accepts the terms and conditions set forth by the Ministry
of Finance with respect to the CRF allocation,
Submitted by:
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Reviewed b~ u",~---1< ~~)(:, '"\.,.
Franklin Wu
Chief Administrative Officer
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Nancy . T lor, B.B.A., C.A.
Director of Finance
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REPORT NO.: FND-001-04
PAGE 2
BACKGROUND
1.0 The Municipality of Clarington has received $116,000 in each of the past three
years from the Ministry of Finance for Community Reinvestment Funding.
1.1 The Municipality of Clarington has received confirmation that the same amount
will be received for 2004, which will be paid in four equal instalments of $29,000
each.
1.2 Municipalities are required to submit to the Ministry of Municipal Affairs and
Housing:
(i) A Council resolution declaring the municipality's:
(a) intent to use the CRF Allocations they will receive for the benefit of
taxpayers; and
(b) acceptance of the CRF Allocations in accordance with these terms and
conditions by January 30, 2004;
(ii) Financial Information Returns (FIRs) for 2003 in accordance with the deadline
to be set by Ministry of Municipal Affairs and Housing; and
(iii) tax rate by-laws for 2004 by September 30, 2004.
Attachment: 2004 CRF Notice
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOW MANVILLE, ONTARIO L 1 C 3A6 T (905)623-3379 F (905)623-4169
Attachment to FND-OO 1-04
'.
Local Services Realignment (LSR)
Community Reinvestment Fund (CRF) - 2002 Year-End Reconciliation
2002 & 2003 Adjustments and 2004 CRF Allocation
($ Thousands)
Town of Clarington
Region of Durham
I LSR Programs II Year-End 2002 1 Updated 2003 I
I
, Active Programs;
Social Assistance 0 0
Child Care 0 0
Public Health 0 0
Land Ambulance Services 0 0
I Social Housing 0 0
Policing Costs Above $901hh 0 0
Managed Forests/Conservation Lands Rebate 43 43
Farm Tax Rebate 446 446
A. Total of Active Programs 489 489
'Add:
B.\lnactive Program Costs 245 245
C. Municipal Support Grant 1,199 1,199
D. Share of Upper-Tier Net Costs 8,287 8,287
E'l Provincial Offences Act Net Revenues (189 (189
Less;
F. Savinas Taraet 0 0
G. Net LSR Costs 10.031 10,031
H.I Residential Education Tax Room 11 14,0511 I 14,051 [
I. i CRF BASE ALLOCATION (G - H; 0 if negative) 0 0
J'I Transit Bonus l 0 0
K. CRF Bonus 0 0
L. ~Plementary Assistance 116 116
, ,
M. TOTAL CRF ALLOCATION I, 1161 116
,
N.I CRF Payments II a 11~1 i b 11~1
0, I CRF Adjustments (M - N)
P.I Total CRF Adjustments (a + b) II 0 I
Q. 2004 CRF ALLOCATION II 116 I
Eoual to Updated 2003 Total CRF Allocation)
R. 12004 Stabilization Bonus II 0 [
S.iTOTAl2004 CRF ALLOCATION II 116 I
[ (Q+R)
Total 2004 CRF Allocation of $116,000 will be paid in 4 equal installments of $29,000.
Ontario Ministry of Finance
10402