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Home My WebLink AboutTR-11-89 7 (a) TOWN OF NEWCASTLE REPORT File # MY l Res. # ' ') t --- ---- --- By-Law # MEETING: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE DATE: February 6, 1989 REPORT #: TR-11-89 FILE #: SUBJECT: CASH ACTIVITY REPORT - DECEMBER, 1988 PART A RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. That report TR-11-89 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 December 31, 1988 is as shown on the attached schedule; and 3. That Part A of the expenditures for the month of December, 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 December 31, 1988 and the comparative information for the month ended December 31, 1987. Respectfully submitted, Recommended for presentation to the Committee e Marano, rence V Kotseff, Acting Treasurer. Chief A m"istrative Officer. MAM/JJ/ges CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Revenue & Expenditures for the Month of December 1988 PART A 1988 1987 CASH ON HAND AT Dec. 1, 1988 $ 12,582,114 $10,563,817 Total Cash for General Operating and Reserve Fund Purposes: Taxes.. . . . . . . . . . . . . . . . . . . . . . . . . . . . 911,459 755,335 Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,092 312,500 Interest - Reserve Funds. . . . . . . . . . 66,601 76,723 - General Funds. . . .. . . . . . 50,849 21,062 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 766,266 1,176,074 Total Cash Available. . . . . . . .. . . . . . . . $14,421,381 $12,905,511 USE of funds Expenditures Debenture Charges.. . . . . . . . . . . . . . . . - 3,090 Payroll. .. . . . . . . . .. . . . . . . . . . . . . . . . 321,512 254,801 General. . . . . . . . . . .. . . . . . . . . . . . . . . . 1,151,814 2,276,717 Interest.. . . . . . . . .. . . . . . . . . . . . . . . . - - Levies - Region. . . . . . . .. . . . .. . . . . . - 223,710 - Schools. . . . . . . . . . . . . . . . . . 3,754,899 3,154,351 TOTAL EXPENSES 5,228,225 5,912,669 CASH on Hand as At Dec. 31, 1988 $ 9,193,156 $ 6,992,842 ANALYSIS as follows Cash. . . . . . . . . . . . . . . . . . . . . . . .. . . . . . $ 1,775,753 $ 3,309,320 Investments. . . . . . . . . . . . . . . . . . . . . . . 7,417,403 3,683,522 $ 9,193,156 $ 6,992,842 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the Month of December, 1988 1988 1987 Balance Receivable - Dec. 1, 1988 $2,781,725 21460,014 Additions: Penalties & Interest. . . . . . . 27,519 23,604 Taxes Billed. . . . . . . . . . . . . . . 76,421 87,243 2,885,665 2,570,861 Reductions: Payments and Adjustments. . 942, 127 755,335 Balance Receivable - December 31, 1988 $11943,538 $1,815,526 STATISTICAL INFORMATION for the month of December, 1988 Payment Received - Taxes 1,437 - Other 834 Tax Certificates Issued 532 Dog Licenses Issued 60 Burial Permit Issued 18 Accounts Payable Cheques Issued 1,399 Cheque # 1480 to 2194 4499 4529 1352958 1353284 1363611 1363963 CORPORATION OF THE TOWN OF NEWCASTLE Investments Outstanding As of December 31, 1988 INTEREST INVESTMENT PLACED WITH AMOUNT RATE TERMS DUE DATE a) Lloyds Bank 700,000 10.5 31D Jan. 16/89 b) Royal Bank 2, 437,100 10.35 91D Jan. 5/89 c) CIBC 499,283 10. 45 61D Jan. 16/89 d) Lloyds Bank 800,000 10.5 31D Jan. 16/89 e) Scotia Bank 1,9812020 10.6 33D Jan. 17/89 f) Lloyds Bank 11000,000 10.65 83D Jan. 30/89 $ 7,417,403 CORPORATION OF THE TOWN OF NEWCASTLE LOT LEVIES FOR MONTH OF DECEMBER 1988 NAME ADDRESS AMOUNT DESCRIPTION Kingsberry Lot 35 Conc. 2 14,095.00 LD 684-688/88 Darlington John Windatt Pt. Lot 9, Conc. 4 2,743.00 LD 409/88 Clarke Foston Farms Pt. Lot 1 & 2 Conc. 3 2,743.00 LD 147/88 Darlington Kiddicorp Lot 33, Conc. 2 8,457.00 LD 211-213/87 Darlington Ochonski Pt. Lot 30, Conc. 5 2,743.00 LD 371/88 Clarke 317980 Ontario Pt. Lot 30, Conc. 1 127,559.75 1OM818 Clarke S. Lazovic Lot 31, Conc. 3, 5,638.00 LD 620-621/88 Darlington Vanhaverbeke Pt. Lot 4, Conc. 3 2,743.00 LD 244/88 Farms Darlington Kiddicorp Pt. Lot 31, Conc. 3 46,514.00 18T-77041 Darlington J. & G. Lot 28, Conc. 3 2,743.00 LD 561/88 Krezanowski Darlington 215,978.75