HomeMy WebLinkAboutTR-43-94 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
REPORT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE File# -E-Z-6_Ce�7
Date: June 20, 1994 Res. # (1) (1/-/) -
TR-43-94 By-Law#
Report#: File
ANNUAL STATEMENT FOR THE THE DEVELOPMENT CHARGES RESERVE FUNDS FOR
Subject: THE YEAR ENDED DECEMBER 31, 1993
Recommendations:
It is respectfully recommended that the General Purpose and
Administration Committee recommend to Council the following:
1. THAT Report TR-43-94 be received for information.
BACKGROUND & COMMENTS
In accordance with the Development Charges Policy Report dated
February 5, 1992, section 2 . 12 .2, the attached schedules show the
annual activity in the development charges reserve funds for the year
ended December 31, 1993.
Respectfully submitted and Reviewed by
recommended for presentation
to th e,-Committee
6-0 7P
tMari A. Marano H.BSc. ,A.M.C.T. W.H. Stockwell,
easurer Chief Administrative Officer
NT/MAM/hjl
Attachments: Schedule A
Schedule B
PIP",
SCHEDULE "A"
DEVELOPMENT CHARGE RESERVE
FUND STATEMENT
FOR THE 1993 YEAR
Civic Public Comm. Libraries Fire Sub- Newcastle Reserve
Admin. Works Services Prot. Total Hydro Fund
Electric Total
Commission
Balance as of (26,849) ( 322,493) (201,065) ( 38,707) ( 28,725) ( 617,839) ( 79,051
December 31, 1992 ) ( 696,890)
Plus:
Contribution from
Revenue Fund
Transfer from Lot Levy (27,589) ( 303,326) (206,720) ( 39,793) ( 29,509) ( 606,937) ( 606,937)
Reserve Fund
Development Charge (60,649) ( 743,300) (454,160
Proceeds ) ( 87,448) ( 64,881) (1,410,438) ( 85,131) (1,495,569)
Accrued Interest ( 2,279) ( 17,112) ( 40,202) ( 7,734
Apportionment ) ( 5,754) ( 73,081) ( 73,081)
SUB-TOTAL (90,517) (1,063,738) (701,082) (134,975) (100,144) (2,090,456) (164,182) (2,175,587)
Less:
Amount Transferred to 64,591 522,328 586,919 586,919
tCapital Fund
Amounts Refunded 97 1,187 725 140 104 2,253 0 2,253
Transfer to Reserve Fund 493,522 106,875 600,397 600,397
Transfer to NHEC 164,182 164,182
SUB-TOTAL 64,688 1,017,037 725 107,015 104 1,189,569 164,182 1,353,751
December 31, 1993 (52,678) ( 369,194) (901,422) ( 66,667
Closing Balance ) (128,765) (1,518,726) 0 (1,518,726)
Committed Amounts from 237,140 106,875 237,140 237,140
Prior Year's Budgets
Balance Available for (52,678) ( 132,054) (901,422) 40,208 (128,765) (1,281,586) 0 (1,281,586)
Future Needs
* See Schedule B
NOTE: Total Development Charges collected on behalf. of Region in 1993 $1,100,076
Less: Amounts paid to Region 1,100,076
Total Development Charges due to the Region at December 31, 1993 $ 0
SCHEDULE "B"
CAPITAL FUND TRANSFERS ADDENDUM
1) PUBLIC WORKS DEVELOPMENT CHARGE RESERVE FUND
Capital Project Amount Transferred to Intended Application
Capital Fund
King Street 174,143 Road Reconstruction
Bondhead Erosion 75,644 Road Reconstruction &
Erosion Protection
Highway #2 26,855 Street Lights
Equipment 1,936 Miscellaneous Small
Equipment
Road Needs Study 17,535 Roads Needs Study
Various Locations 223,257 Sidewalks & Walkways
Orono Works Depot 2,958 Door Replacement
TOTAL: 522 ,328
1 ADMINISTRATION DEVELOPMENT CHARGE RESERVE FUND
C.N. Watson/Shibley ,58,561 Development Charges
Appeal
C.N. Watson 6,030 Cash Flow Analysis
RE: Development
Charges Policy Report
TOTAL: 64,591
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