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HomeMy WebLinkAboutTR-19-91 TOWN OF NEWCASTLE REPORT File #.:'10.IC&l .Mo Res. # By-Law # MEETING: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE DATE: March 4, 1991 REPORT #: TR-19-91 FILE #: SUg,JECT: CASH ACTIVITY REPORT - DECEMBER, 1990 PART A RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. That report TR-19-91 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, 1990, is as shown on the attached schedule; and 3. That Part A of the expenditures for the month of December, 1990 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, 1990 and the comparative information for the month ended December 31, 1989 . Respectfully submitted, Recommended for presentation 4alz�� M to the Committee r Marie A. Marano H.BSc . , Lawrenc . Kotseff Treasurer Chief A inistrative Officer MAM/DV/ges lei CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Revenue & Expenditures for the Month of December, 1990 PART A 1990 1989 CASH ON HAND AT Nov. 30, 1990 $20,752, 013 $18, 135,705 Total Cash for General Operating and Reserve Fund Purposes: Taxes . . . . . . . . . . . . . . . . . . . . . 632,496 977,800 Grants . . . . . . . . . . . . . . . . . . . . --- 91,015 Interest-Reserve Funds . . . . 88, 353 100,330 -General Funds . . . . 27, 873 171,009 Other. . . . . . . . . . . . . . . . . . . . . 1,422 ,038 1,086 , 133 Total Cash Available. . . . . . . . . $22,922,773 $20,561, 992 USE of funds Expenditures Debenture Charges . . . . . . . . . --- --- Payroll. . . . . . . . . . . . . . . . . . . 444,591 384,250 General. . . . . . . . . . . . . . . . . . . 660,990 2,024,508 Interest. . . . . . . . . . . . . . . . . . --- --- Levies - Region. . . . . . . . . . . 280,055 --- - Schools . . . . . . . . . . 6,312, 824 4,811,567 TOTAL EXPENSES 7 ,698,460 7 ,220,325 CASH on Hand as At Dec. 31, 1990 $15,224,313 $13 ,341,667 ANALYSIS as follows Cash. . . . . . . . . . . . . . . . . . . . . . $ 2, 190,583 $ 329, 102 Investments . . . . . . . . . . . . . . . 13, 033,730 13 ,012 ,565 $15,224 , 313 $13,341,667 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the month of December, 1990 1990 1989 Balance Receivable- Nov. 30,1990 $ 4,522,640 $ 3,333,302 Additions: Penalties & Interest. . 49,638 33,249 Taxes Billed. . . . . . . . . . 287,005 473,865 336,643 3,840,416 Reductions:Payments and Adjustments . . . . . . . . . . . 646,019 950,084 Balance Receivable-Dec . 31, 1990 $ 4,213,264 $ 2,890,332 STATISTICAL INFORMATION for the Month of December, 1990 Payment Received - Taxes 713 - Other 632 Tax Certificates Issued 252 Dog Licenses Issued 13 Burial Permit Issued 12 Accounts Payable Cheques Issued 398 Cheque # 4994 to 5011 12847 13260 01931911 01932293 01945777 01946200 CORPORATION OF THE TOWN OF NEWCASTLE Investments Outstanding As of December 31, 1990 INTEREST INVESTMENT PLACED WITH AMOUNT RATE TERMS DUE DATE GENERAL a) Montreal 988,640 12 . 33 34D Jan. 2nd b) Toronto-Dominion 986,670 12 .03 41D Jan. 17th c) Scotia 990,980 11 . 86 28D Jan. 17th d) Royal 989, 100 11 . 83 34D Jan. 30th RESERVE a) C. I.B.C. 1, 199,592 12 .28 58D Jan. 16th b) C. I .B.C. 999,496 12 .28 58D Jan. 16th c) Toronto-Dominion 980,890 12 .26 58D Jan. 16th d) Montreal 1,273,480 12 .26 62D Feb. 4th e) Toronto-Dominion 979,510 12 . 12 63D Feb. 5th f) Montreal 988,900 12 .05 34D Jan. 17th g) Royal 1,376,466 12 . 00 52D Feb. 4th h) Scotia 1,280,006 11 .88 48D Feb. 4th 13, 033,730 LOT LEVIES - December, 1990 Ivan & Marie Sharp Pt. Lot 20, C. 9 $ 2,894 . 00 LD 315/90 Darlington $ 2 ,894 . 00