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HomeMy WebLinkAboutTR-87-88 TOWN OF NEWCASTLE REPORT File Res. # < By-Law # MEETING: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE DATE: November 21, 1988 REPORT #: TR-87-88 FILE #: Sl1B,JECT: CASH ACTIVITY REPORT - SEPTEMBER, 1988 PART A RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. That report TR-87-88 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 Sept. 1988, is as shown on the attached schedule; and 3. That Part A of the expenditures for the month of Sept., 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 Sept. 30, 1988 and the comparative information for the month ended Sept. 30, 1987. Respectfully submitted, Recommended for presentation to the Committee /J.R. Blanchard, rence . Kotseff Treasurer. ief A i i trative Officer JRB/JJ/pp CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Revenue & Expenditures for the Month of September 1988 PART A 1988 1987 CASH ON HAND AT Aug. 31, 1988 $13,842,487 $12,205,697 Total Cash for General Operating and Reserve Fund Purposes: Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,569,966 3,775,125 Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . 655,747 33,589 Interest - Reserve Funds. . . . . . . . . . 53,143 32,620 - General Funds. . . . . . . . . . 66,901 12,979 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,560,575 1,440,392 Total Cash Available. . . . . . . . . . . . . . . . $20,748,819 $17,500,402 USE of funds Expenditures Debenture Charges. . . . . . . . . . . . . . . . . 44,946 30,088 i Payroll. . . . . . . . . . . . . . . . . . . . . . . . . . . 271,382 248,576 General. . . . . . . . . . . . . . . . . . . . . . . . . .. 1,936,080 1,454,245 Interest. . . . . . . . . . . . . . . . . . . . . . . . . . - - Levies - Region. . . . . . . . . . . . . . . . . . . - - - Schools. . . . . . . . . . . . . . . . . . 3,880,714 3,378,128 TOTAL EXPENSES 6,133,122 5,111,037 CASH on Hand as At Sept. 30, 1988 $14,615,697 $12,389,365 ANALYSIS as follows Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,298,517 $ 6,427,870 Investments. . . . . . . . . . . . . . . . . . . . . . . 12,317,180 5,961,495 $14,615,697 $12,389,365 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the Month of Sept., 1988 1988 1987 Balance Receivable - Aug. 31, 1988 $ 855,995 976,761 Additions: Penalties & Interest. . . . . . . 26,908 33,949 Taxes Billed. . . . . . . . . . . . . . . 7,251,523 6,403,231 8,134,426 7,413,941 Reductions: Payments and Adjustments. . 4,569,966 3,775,125 Balance Receivable - September 30, 1988 $3,564,460 $3,638,816 STATISTICAL INFORMATION for the month of Sept., 1988 Payment Received - Taxes 8,346 - Other 1,136 Tax Certificates Issued 427 Dog Licenses Issued 40 Burial Permit Issued 16 Accounts Payable Cheques Issued 1,004 Cheque # 404 to 786 4418 4444 1294906 1295212 1304387 1304690 CORPORATION OF THE TOWN OF NEWCASTLE Investments Outstanding As of Sept. 30, 1988 INTEREST INVESTMENT PLACED WITH AMOUNT RATE TERMS DUE DATE a) Bank of Montreal 983,890 9.8 61D Oct. 31st b) Royal Bank 2,931,150 9.2 92D Oct. 6th c) Lloyds Bank 3,000,000 9.9 90D Nov. 14th d) Scotia 1,967,640 9.84 61D Oct. 26th e) Bank of Montreal 1,960,720 10.3 71D Dec. 15th f) Scotia Bank 1,473,780 10.31 62D Dec. 7th $12,317,180 I CORPORATION OF THE TOWN OF NEWCASTLE LOT LEVIES FOR MONTH OF SEPTEMBER 1988 NAME ADDRESS AMOUNT DESCRIPTION Bruce Taylor Lot 24, Conc. 7 1,860.00 LD 658/87 Darlington R. Feddema Lot 12, Conc. 6 1,860.00 LD 481/88 Clarke M & J Marchant Lot 9, Conc. 1 1,860.00 LD 155/88 Darlington C. VanderVeer Lot 9, Conc. 1 2,725.00 LD 558/87 Bowmanville Polak/McKay & Lot 7, Conc. 1 9,300.00 LD 560-564/87 Hawkshaw Clarke Apek Real Estate Lot 27, Conc. 2 122,625.00 Plan 1OM812 Clarke 591415 Ontario Pt. Lot 31 & 32, 23,715.00 Plan 1OM808 Conc. 4, Darlington Waverly Heights Pt. Lot 13, Conc. 1 151,237.50 Plan 18T85035 Darlington Wilmot Creek Pt. Lot 22, BF Conc. 1,845.00 Lot 718/708/594 Clarke $317,027.50