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HomeMy WebLinkAboutTR-11-88 TOWN OF NEWCASTLE REPORT File # - 4� � �� Res- By-Law # MEETING: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE DATE: February 15, 1988 REPORT #: TR-11-88 FILE #: SUBJECT: CASH ACTIVITY REPORT - DECEMBER, 1987 PART A RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. That report TR-11-88 be received; and 2. That, in accordance with provision of Chapter 302, Section 81(1) of the Municipal Act, R.S.O. 1980, the Treasurer reports to Committee that the cash position of the Town of Newcastle for the month ended Dec. 31, 1987 is as shown on the attached schedule; and 3. That Part A of the expenditures for the month of December 1987 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 Dec. 31, 1987 and the comparative information for the month ended Dec. 31, 1986. Respectfully submitted, Recommended for presentation to the Committee t .R. Blanchard, wfenq6 M. Kotseff Treasurer. Chief lAfnistrative Officer JRB/JJ/pp CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Revenue & Expenditures for the Month of December 1987 PART A 1987 1986 CASH ON HAND AT NOV. 30, 1987 $10,563,817 $ 9,967,649 Total Cash for General Operating and Reserve Fund Purposes: Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 755,335 630,254 Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . 312,500 297,592 Interest - Reserve Funds. . . . . . . . . . 76,723 17,254 - General Funds. . . . . . . . . . 21,062 35,894 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,176,074 279,572 Total Cash Available. . . . . . . . . . . . . . . . $12,905,511 $11,228,215 USE of funds Expenditures Debenture Charges. . . . . . . . . . . . . . . . . 3,090 - Payroll.. . . . . . . . . . . . . . . . . . . . . . . . . . 254,801 285,025 General. . . . . . . . . . . . . . . . . . . . . . . . . . . 2,276,717 836,335 Interest. . . . . . . . . . . . . . . . . . . . . . . . . . - - Levies - Region. . . . . . . . . . . . . . . . . . . 223,710 - - Schools. . . . . . . . . . . . . . . . . . 3,154,451 3,224,342 TOTAL EXPENSES 5,912,769 4,345,702 CASH on Hand as At Dec. 31, 1987 $ 6,992,742 $ 6,882,513 ANALYSIS as follows Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,309,220 $ 2,910,693 Investments. . . . . . . . . . . . . . . . . . . . . . . 3,683,522 3,971,820 $ 6,992,742 $ 6,882,513 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the Month of December 1987 1987 1986 Balance Receivable - Dec. 1, 1987 $2,460,014 2,260,475 Additions: Penalties & Interest. . . . . . . 23,604 19,142 Taxes Billed. . . . . . . . . . . . . . . 87,243 110,638 2,570,861 2,390,255 Reductions: Payments Received.. . . . . . . . 755,335 630,254 Balance Receivable - Dec. 31, 1987 $1,815,526 $1,760,001 STATISTICAL INFORMATION for the month of December, 1987 Payment Received - Taxes 1,317 - Other 1,153 Tax Certificates Issued 167 Dog Licenses Issued 55 Burial Permit Issued 11 Accounts Payable Cheques Issued 1,135 Cheque # 226 to 251 4154 4670 7749282 7749566 8038268 8038576 CORPORATION OF THE TOWN OF NEWCASTLE Investments Outstanding As of December 31, 1987 INTEREST INVESTMENT PLACED WITH AMOUNT RATE TERMS DUE DATE a) B.N.S. 2,183,522 8.35 33D Jan. 12/88 b) Lloyds Bank 1,500,000 8.60 30D Jan. 15/88 $3,683,522 CORPORATION OF THE TOWN OF NEWCASTLE LOT LEVIES FOR MONTH OF DECEMBER 1987 NAME ADDRESS AMOUNT DESCRIPTION Kingsberry Pt .Lt . 35 , Conc . 2 $ 39 , 600 . 00 Lot Levies Properties Darlington Ridge Pine BF Conc . , various lots 1, 845 . 00 Lot Levies Clarke & Darlington i W. Kay Lycett Pt . Lt . 13 , Conc . 6 1,475 . 00 Lot Levies Clarke LD 519/87 Schickendanz Pt .Lt . 10, Conc . 1 64 ,900 . 00 Lot Levies Darlington Plan 1OM800 $107 , 820 . 00 I