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HomeMy WebLinkAboutTR-16-88 TOWN OF NEWCASTLE REPORT File #/d 4 _ Res. # -- �¢ By-Law # MEETING: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE DATE: March 21, 1988 REPORT #: TR-16-88 FILE #: SUBJECT: CASH ACTIVITY REPORT - JANUARY, 1988 PART A RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. That report TR-16-88 be received; and 2. That, in accordance with provision of Chapter 302, Section 81(.l) 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 Jan. 31, 1988 is as shown on the attached schedule; and 3. That Part A of the expenditures for the month of January 1988 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 Jan. 31, 1988 and the comparative information for the month ended Jan. 31, 1987. Respectfully submitted, Recommended for presentation to the Committee .R. Blanchard, wrence :, Kotseff Treasurer. Chief A m n strative Officer JRB/JJ/pp i (0) CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Revenue & Expenditures for the Month of January, 1988 PART A 1988 1987 CASH ON HAND AT Dec. 31, 1987 $ 6,992,742 $ 6,882,513 Total Cash for General Operating and Reserve Fund Purposes: Taxes. . . . . . . . . . . . . . . . . . . . . . . . .. . . . 354,834 261,903 Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . 910,800 - Interest - Reserve Funds. . . . . . . . . . 45,013 2,191 - General Funds. . . . . . . . . . 5,522 16,110 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301,629 209,748 Total Cash Available.. . . . . . . . . . . . . . . $ 8,610,540 $ 7,372,465 USE of funds Expenditures Debenture Charges. . . . . . . . . . . . . . . . . 59,129 89,212 Payroll. . . . . . . . . . . . . . . . . . . . . . . . . . . 238,864 217,981 General. . . . . . . . . . . . . . . . . . . . . . . . . . . 815,823 1,188,853 Interest. . . . . . . . . . . . . . . . . . . . . . . . . . - - Levies - Region. . . . . . . . . . . . . . . . . . . - - - Schools. . . . . . . . . . . . . . . . . . - - TOTAL EXPENSES 1,113,816 1,496,046 CASH on Hand as At Jan. 31, 1988 $ 7,496,724 $ 5,876,419 ANALYSIS as follows Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,986,121 $ 1,904,599 Investments. . . . . . . . . . . . . . . . . . . . . . . 1,510,603 3,971,820 $ 7,496,724 $ 5,876,419 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the Month of January, 1988 1988 1987 Balance Receivable - Dec. 31, 1987 $1,815,526 1,760,001 Additions: Penalties & Interest. . . . . . . 23,604 17,979 Taxes Billed. . . . . . . . . . . . . . . - - 1,839,130 1,777,980 Reductions: Payments Received. . . . . . . . . 354,835 261,903 Balance Receivable - Jan. 31, 1988 $1,484,295 $1,516,077 STATISTICAL INFORMATION for the month of January, 1988 Payment Received - Taxes 569 - Other 780 Tax Certificates Issued 197 Dog Licenses Issued 119 Burial Permit Issued 17 Accounts Payable Cheques Issued 906 Cheque # 252 to 264 4671 5000 8171852 8172139 8381789 8382093 Ui 3 (is) CORPORATION OF THE TOWN OF NEWCASTLE Investments Outstanding As of January 31, 1988 INTEREST INVESTMENT PLACED WITH AMOUNT RATE TERMS DUE DATE a) Lloyds Bank 1,510,603 8.72 30D Feb. 16/88 $1,510,603 CORPORATION OF THE TOWN OF NEWCASTLE LOT LEVIES FOR MONTH OF JANUARY 1988 NAME ADDRESS AMOUNT DESCRIPTION M & G Weir Pt. Lt. 29, Conc. 7, $ 1,475.00 LD 465/87 Clarke Marianna Pt. Lt. 9 & 10 2,950.00 LD 235/236/87 Developments Conc. 6, Clarke Ross Ashton Pt. Lt. 13, Conc. 7 1,475.00 LD 659/87 Darlington $ 5,900.00