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HomeMy WebLinkAboutTR-13-85 chi 4 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 MARCH 18, 1985 REPORT NO. : TR-13-85 SUBJECT: ACTIVITY REPORT - FEBRUARY 1985 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 February is as shown on the attached schedule; and 2. That the expenditures for the month of February 1985 be approved. r C� fir\ TR-13-85 - 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 February 28th 1985 and the comparative information for the month ended February 28th 1984. i Respectfully submitted , Kathryn 'A. Campbell , C.A. , B.Comm. , Treasurer KAC:RCB:gf R85-AR-2 vj,-3Cb� CORPORATION OF THE TOWN OF NEWCASTLE Analysis of Cash Position for the Month of February 1985 1985 1984 CASH on Hand at January 31 , 1985 $3 ,883 ,299 $ 2,621 ,058 Total Cash for General Operating and Reserve Fund Purposes: . . . , , . , 3,339,444 2 ,926,303 Taxes 10,000 Grants .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,674 5,488 Interest 4,870 794 General .. . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . _L25,537 184,285 Other .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Cash Available . . . . . . . . . . . . . . . . . . . . . . . $7,499,824 $5 ,747,928 USE of funds Expenditures 1 ,000 - Debt Charges 200 297 179,921 Payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 514,035 General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 456,484 _ 3,923 Interest .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. - 740,102 Levies - Region - - - Schools .. . . . . . . . . . . . . . . . . . . . . . . . 657,781 1 ,437 ,981 CASH on Hand as at February 28, 1985 $6,842,043 $4 ,309,947 ANALYSIS as follows Cash . . . . . . . . . . . . . . . . . . . . . $3,592 ,043 $2 ,809,947 • ' ' ' ' ' 1 ,500,000 Investments .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,250,000 $6,842,043 $4 ,309,947 CORPORATION OF THE TOWN OF NEWCASTLE CONTINUITY OF TAXES RECEIVABLE for the Month of February 1985 1985 1984 Balance Receivable - January 31 , 1985 $11,659,129 $1 ,760,646 Additions: Penalties & Interest .. . . . . . . . . . . . 22,660 23,894 Taxes Billed . . . . . . . . . . . . . . . . . . . . . 3,834,617 3,654,830 5 $ 16,406 5,439,370 Reductions: Payments Received . .. . . . . . . . . . . . . 3,339,444 2,926,303 Balance Receivable - February 28, 1985 $2 ,1769962 $210513,067 STATISTICAL INFORMATION for the Month of February 1985 Payment Received - Taxes 7703 - Other 1048 Tax Certificates Issued 103 Dog Licenses Issued 272 Burial Permit Issued 15 Accounts Payable Cheques Issued 846 Cheque # 1756355 to 1756573 1963100 1963381 30962 31298 43952 43961 CORPORATION OF 'THE TOWN OF NEWCASTLE Investments Outstanding As of February 28, 1985 INTEREST UUE INVESTMENT PLACED WITH AMOUNT RATE TERMS DATE a)Continental Bank $ 1 ,000,000 10.12% 38D April 1/85 b)Continental Bank 500,000 11.02% 60D April 29/85 c)Continental Bank 750,000 11.42% 90D May 29/85 e)Continental Bank 1 ,000,000 12.02% 180D Aug . 27/85 as of March 5th 1985 f)Toronto-Dominion Bank 1 ,000,000 11.05% 27D April 1/85