HomeMy WebLinkAboutTR-13-86 W13 (0-,)
TOWN OF NEWCASTLE
REPORT File # '
Res.
By-Law #
MEETING: General Purpose and Administration Committee
DATE: MARCH 17, 1986
REPORT #: TR-13-86 FILE #:
SUBJECT: TRANSFERS TO RESERVES
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administra-
tive Committee recommend to Council the following:
1 . That report TR-13-86 be received; and
2. That a transfer of $7,820.28 provided the Fire Department 1985
operating budget for the purchase of various minor equipment and
Capital repairs to the General Capital Reserve (2900-X-17-0) be
approved; and
3. That a transfer of $37,500 which represents the Town's share of
the construction cost towards a new training facility as
provided for in the Fire Department 1985 operating budget to the
general capital reserve (2900-X-17-0) be approved; and
4. That a transfer of $5,754.25 provided that the Public Works
Department 1985 operating budget for Hampton Yard renovations
to the general capital reserve (2900-X-17-0) be approved; and
5. That a transfer of $60,006.06 provided in the General Government
Unclassified Administration 1985 Operating budget for tax write-
offs to a new reserve entitled Reserve for Uncollectable Taxes
be approved; and that the attached by-law be forwarded to
Council for approval .
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General Purpose & Administration Committee Meeting Page 2
TR-13-86
BACKGROUND AND COMMENTS:
Items in Capital Repairs within the Fire Department Budget have been ordered
but not received or completed by the end of 1985 and now require a transfer to
the Reserve to cover these costs.
Construction of a new Training Facility for the Fire Department was to start
in 1985 but has now been postponed until 1986. The Town's maximum
contribution towards this facility is $37,500 as provided for in the 1985
Operating Budget. By transferring these monies to the appropriate Reserve the
Town' s contribution will be available when requested.
The 1985 Public Work's Operating Budget allocated $100,000 for expansion to
the Hampton Yard Facilities of which $50,000 was to be funded from the Tax
Levy. At the end of 1985, only $44,245.75 in cost had been expensed and it is
recommended that the difference be transferred to the General Capital
Reserve. Future funding will be from this Reserve and the Lot Levy Reserve
Fund as provided for in the 1985 Budget.
As members of council are aware, a number of Assessment Appeals are pending
before the Courts.
This matter was discussed at the recent Budget Committee Meetings and because
of the confidentiality associated with Assessment Appeals, staff would
recommend that should Committee Members wish to discuss this matter further
they do so In Camera. However, staff are of the opinion that further
discussions are not necessary at this time and request that staff's
recommendation number 5 in this report be adopted and that the attached by- law
be forwarded to Council for approval .
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General Purpose & Administration Committee Meeting Page 3
TR-13-86
The above mentioned Reserves are the only Reserves requiring year-end
adjustments at this time.
Respectfully submitted,
J.R. Blanchard,
Treasurer.
JRB/pp
ATTACHMENT:
The Corporation of the Town of Newcastle
By-law
being a by-law to establish a Reserve for
Uncollectible Taxes
WHEREAS, the Council of the Corporation of the Town of Newcastle �.
considers it desirable to establish a Reserve for Uncollectible
Taxes; <r.
AND WHEREAS, Section 164(2) of the Municipal Act, R.S.O. 1980,
provides that "In preparing the estimates the Council shall make due
allowance for a surplus of any previous year that will be available
during the current year and shall provide for any operating deficit
of any previous year, and for the cost of collection, abatement of
and discount on taxes and for uncollectable taxes and may provide
for taxes that it Is estimated will not be collected during the year
and for such reserves as the Council considers necessary;"
NOW THEREFORE, Be It Enacted and it is Enacted as a By-law of the
Corporation of the Town of Newcastle as follows:
1. That the Treasurer be authorized to establish a reserve,
entitled Reserve for Uncollectible Taxes; and
2. That the Treasurer be authorized to transfer the uncollectibie
monies from the budget for Taxes Written Off in any given year
to the Reserve for Uncollectible Taxes.
By-law read a first time this day of March 1986
By-law read a second time this day of March 1986
By-law read a third time and finally passed this day of March 1986.
Mayor
j Clerk
i