HomeMy WebLinkAboutTR-23-93 THE CORPORATION OF THE TOWN OF NEWCASTLE
REPORT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE File#
C
Date: March 15, 1993 Res. #
Report#: TR-23-93 File #: By-Law#
Subject: CASH ACTIVITY REPORT - JANUARY, 1993
PART A
Recommendations:
It is respectfully recommended that the General Purpose and
Administration Committee recommend to Council the following:
1. That report TR-23-93 be received; and
2 . That, in accordance with provision of Chapter M-45,
Section 79 ( 1) of the Municipal Act, R.S.O. 1990,
the Treasurer reports to Committee that the cash
position of the Town of Newcastle for the month
ended January 31, 1993, is as shown on the attached
schedule; and
3 . That Part A of the expenditures for the month of
JANUARY, 1993 be confirmed.
BACKGROUND & COMMENTS
The attached schedules indicate the Corporation of the Town of
Newcastle's cash transactions, the cash and investment position, lot
levy information and statistical information for the month ended
January 31, 1993 and the comparative information for the month ended
January 31, 1992 .
Respectfully submitted, Recommended for presentation
to the Committee
ma`rte' K. Marano H.BSc . ,A.M.C.T. Lawrence E. Kotseff
Treasurer Chief Administrative Officer
MAM/RS/ges
CORPORATION OF THE TOWN OF NEWCASTLE
Analysis of Revenue & Expenditures
for the Month of January, 1993
PART A
1993 1992
CASH ON HAND AT Dec . 31, 1992 $24,690,043 $221-684, 119
Total Cash for General
Operating and Reserve
Fund Purposes:
Taxes . . • . . . . . . . . . . . . 403,248 354,830
Grants / Subsidies . . . . . . --- 36, 104
Interest-Reserve Funds . . . . 139,915 126,324
-General Funds . . . . 27,214 35,885
Other. . . . . . . . . . . . . . . . . . 802,861 973,676
Region ofDurham. . . . . . . . . . 145,657 48,305
Total Cash Available. . . . . . . . . $26,208,938 $24,259,243
USE of funds
Expenditures
Debenture Charges . . . . . . . . . --- ---
Payroll. . . . . . . . . . . . . . . . . . . 504,783 748,935 **
General. . . . . . . . . . . . . . . . . . . 1,370,198 11685,591
Interest. . . . --- ---
Levies - Region. . . . . . . . . . . --- ---
- Schools. . . . . . . . . . --- ---
TOTAL EXPENSES 1,874,981 2,434,526
CASH on Hand as At Jan. 31, 1992 $24 ,333,957 $21,824,717
ANALYSIS as follows
* Cash. . . . . . . . . . . . . . . . . . . . . . 12,882,086 $ 4,847,262
Investments. . . . . . . . . . . . . . . 11,451,871 16,977,455
$24,333,957 $21,824,717
NOTE: * Cash position appears unusually high. Investments totalling
$6,941,310 matured January 31, 1993 and were re-invested February 1,
1993. Investing funds on January 31, 1993 would have shown a cash
position at January 31, 1993 of $5, 940,775 and a investment total of
$18,393, 182 being more in line with 1992 .
** There were three (3) payrolls in January 1992 .
x` 14
CORPORATION OF THE TOWN OF NEWCASTLE
CONTINUITY OF TAXES RECEIVABLE
for the month of January, 1993
1993 1992
Balance Receivable- Dec . 31, 1992 $ 5,296,278 $ 4,637, 164
Additions: Penalties & Interest. . 71,486 55,782
Taxes Billed. . . . . . . . . . --- ---
5,367,764 4,692,946
Reductions :Payments and
Adjustments . . . . . . . . . . . 403,248 354,830
Balance Receivable-Jan.31, 1993 $ 4,964,516 $ 4,338, 116
STATISTICAL INFORMATION
for the Month of January, 1993
Payment Received - Taxes 326
- Other 1,134
Tax Certificates Issued 142
Dog Licenses Issued 126
Burial Permit Issued 40
Accounts Payable Cheques Issued
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Cheque # 24192 to 24211
26043 26526
02560508 02560825
02570112 02570415
CORPORATION OF THE TOWN OF NEWCASTLE
Investments Outstanding
As of January 31, 1993
INTEREST
INVESTMENT PLACED WITH AMOUNT RATE TERMS DUE DATE
GENERAL
a) Montreal 988,660 7 . 61 55D Feb. 8th
b) Scotia 1,200,000 6 . 8 48D Mar. 1st
RESERVE FUND
a) Royal 2,766,792 7 . 30 60D Feb. 19th
b) C. I.B.C. 2,999,074 6 .93 30D Feb. 2nd
c) Scotia 3,000,000 7 .00 61D Mar. 8th
d) Toronto-Dominion 497,345 6 .5 30D Feb. 19th
11,451,871
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JANUARY 1993
DEVELOPMENT CHARGES
Lot
Total Levies Town Region P.U.C.
Eiram Development $3,932.00 --- $3,932.00
Lot 10, C.3
Bowmanville
1OM840
B/P #92.1053, 1054
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