HomeMy WebLinkAboutTR-49-81 Memorandum
TO: Chairman & Members of the Finance & Administration Committee
FROM: Klaas Degroot, C.G.A. , Treasurer
DATE: June 19, 1981
SUBJECT: Year to Date Budget Performance
ITEM: TR-49-81
Recommendation:
"Receive for information"
Report:
The attached schedule shows that at May 31, 1981 we had spent 22.5% of our
net operating budget. This represents a lower percentage spending than
the same period in 1980 when the comparable percentage was 26.5%.
The movement of our tax due dates forward had provided us with significant
benefit in our cash flow and allow us to show a net income from treasury
operation at this point, compared to a net expense at the same time in past
years. The largest budget area (Transportation Services) is an enigma at
this point with tenders out on a number of significant projects. When these
tenders are opened staff will be in position to project this area forward for
any significant variance from budget.
Members of the Committee are aware that the Ministry of Transportation &
Communiciation did not see fit to approve the entire request for supplementary
subsidy, reducing the request by $70,000. Staff was not totally surprised
by this action and had made provision through resolution C-377-81 to suspend
a particular project (Salt Storage Shed $68,000) should this event occur.
The effect on budget is therefore not a major concern.
The Newcastle Fitness Centre is operating very favourably with revenues exceeding
expectations at this point, however with no historical data to establish trends
by, and therefore predicting that this favourable situation will be maintained
to year end is not a certainty.
_
j` 1
J,
L
K. Degroot. �g
Budget Analysis (May 31/81)
Category May 31/81 % of Budget
1981 Budget Expenditure spent
$000 $000
General Government $ 750 209 27.9
Protection to Persons & Property 503 108 21.4
Transportation Services 3,360 605 18.0
Environmental Services 378 75 19.8
Health Services 41 (2) -
Recreation & Cultural Services 879 319 36.3
Planning & Development 266 74 27.8
Sub-Total 6,177 1,388 22.5
Levies 8,766 2,444 27.9
Total $14,943 $3,832 25.6
i
1
i
i