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HomeMy WebLinkAboutTR-3-85 CORPORATION OF THE TOWN OF NEWCASTLE TREASURY DEPARTMENT K. CAMPBELL, C.A.,TREASURER 40 TEMPERANCE STREET TEL.(416) 623-3379 BOWMANVILLE, ONTARIO L1C 3A6 REPORT TO THE GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MEETING OF JANUARY 21, 1985 REPORT NO. : TR-3-85 SUBJECT: ACTIVITY REPORT - DECEMBER 1984 RECOMMENDATION: It is respectfully recommended that the General Purpose and Administrative Committee recommend to Council the following: 1. 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 is as shown on the attached schedule; and 2. That the expenditures for the month of December 1984 be approved. oj TR-3-85 - 2 - BACKGROUND AND COMMENTS: The attached schedules indicate the Corporation of the Town of Newcastle' s cash transactions, the cash and investment position, and statistical information for the month ended December 31, 1984 and the comparative information for the month ended December 31 , 1983. Respectfully submitted , Kath A. Campbell , C.A. , B.Comm. , Treasurer KAC:RCB:gf R85-AR-2 CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Cash Position for the Month of December 1984 1984 1983 CASH on Hand at November 30, 1984 $5,760,400 $ 5,393 ,720 Total Cash for General Operating and Reserve Fund Purposes: Taxes .. . .. . . . . . . . . . . . . . .. . . . .. . . . . . . . . . . . 412,413 329,980 Grants . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . - 77 ,813 Interest .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52,274 28,328 General . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,442 24,816 Other .. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . 469,356 3565534 Total Cash Available .. . . . . . . . . . . . . . . . .. . . . . $65718,885 $6,211 ,191 USE of funds Expenditures DebtCharges .. . . . . . . . . . . . . . . . . . . . . . . . . . . . - - Payroll . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199,105 275,448 General .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 6131,011 1 $ 63,897 Interest . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . - - Levies - Region .. .. . . . . . . . . . . . . . . . . . . . . . . - - - Schools . . . . . . . . . . . . .. . . . . . . . . .. . 21,2505,521 2,077,675 $390625637 $3 ,7175020 CASH on Hand as at December 31 ,1984 $396561,248 $2 ,4945171 ANALYSIS as follows Cash .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1 ,656,248 $1 ,244,171 Investments .. . . . . . .. . . . . . . .. . . . . . . . ... .. . 2,000,000 1 ,2505000 $3,656,248 $2 ,494,171 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the Month of December 1984 1984 1983 Balance Receivable - November 30, 1984 $21477,581 $2 ,405,376 Additions: Penalties & Interest .. . . . . . . . . . . . 21 ,917 22,149 Taxes Billed . . . . .. . . . . . . . . . . . . . . . 2 ,499,498 21,427 ,525 Reductions: Payments Received . . . . . . . . . . . .. . . 412,413 329,980 Balance Receivable - December 31 , 1984 $2 ,08_ 7,085 $2 ,097,545 Note: 1 . 93.38% of Current Levy Collected - Best Year Since 1979. 2. Number of Unpaid Tax Accounts Down 207o from 1983 Year-end . STATISTICAL INFORMATION for the Month of December 1984 Payment Received - Taxes 706 - Other 698 Tax Certificates Issued 79 Dog Licenses Issued 57 r Burial Permit Issued 15 Accounts Payable Cheques Issued 945 Cheque # 985226 to 985465 1235821 1236140 43912 43944 30319 30698 CORPORATION OF THE TOWN OF NEWCASTLE Investments Outstanding As of December 31, 1984 INTEREST DUE INVESTMENT PLACED WITH AMOUNT RATE TERMS DATE Victoria & Grey Trust $2,000,000 10.00 76D Feb. 28/85