HomeMy WebLinkAboutTR-72A-81 ` f P) I 64)/0, ,� / 1 ,
Report to the Chairman and Members of the General Purpose and Administration
Committee meeting held on October 26, 1981.
Report No. TR-72a-81
Subject: Resolution #C-520-81
Allocation of the estimated surplus from 1980 ($75,000)
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Recommendation:
It is respectfully recommended:
1. That this report be received; and
2. That Resolution #C-520-81 be rescinded; and
3. That the following resolution be adopted:
That the 1980 Surplus be used to fund the Town's contribution
to the Handit Transit program in the amount of $5,000.00 and the
remainder of the surplus be used to reduce the 1981 tax levy.
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Background and Comment:
Council previously passed a resolution #C-520-81 which is restated below
for your information:
Resolution #C-520-81
"THAT the following be added to Contingency Account and sufficient funds
be added to revenue from the estimated surplus for 1980 ($75,000) .
Hand%-Transit $ 5,000
Repairs to Orono Fire Hall 30,000
Hampton Hall Roof and
Bowmanville Arena Roof 20,000
$55,000
and that the balance of the surplus be credited to Working Funds Reserve,
subject to the required by-law being passed. "
With the finalization of our audit for 1980, our actual surplus for the
year ended December 31, 1980, is $14,637. Since the suplus is reduced from the
estimate, I recommed that the commitment which we have made to Handi-Transit be
funded through the surplus in the amount of $5,000.00 and that the remainder of
the surplus be used to reduce the 1981 tax levy.
The other two items which were to have been funded from the surplus, being
that of the repairs to the Orono Fire Hall in the amount of $30,000, and repairs
to the Hampton Hall Roof and Bowmanville Arena Roof, in the amount of $20,000 be
considered again in the 1982 budget proposals.
Respectfully submitted by,
Kathryn A. 6arr, 1 , C A. B.Com,
Treasurer
!_ 10 16 81 R81-SP-1
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MEMORANDUM
TO: Chairman and Members of the Finance and
Administration Committee
FROM: Kathryn Campbell , C.A. , B.Com. , Treasurer
DATE: September 8, 1981
SUBJECT: Resolution #C-520-81
Allocation of the estimated surplus from 1980 ($75,000)
ITEM: TR-72-81
RECOMMENDATION:
That Resolution #C-520-81 be rescinded and another resolution be put
forward to allocate the actual surplus from 1980 in the amount of
$14,137 in the following manner. Handi-Transit $5,000, and the
balance of the surplus to be credited to the Working Funds Reserve.
REPORT:
Resolution #C-520=81
THAT the following be added to Contingency
Account and sufficient funds be added to
revenue from the estimated surplus from
1980 ($75,000).
Handi-Transit $5,000
Repairs to Orono Fire Hall 30,000
Hampton Hall Roof and
Bowmanvi'lle Arena Roof 20,000
$55,000
and that the balance of the surplus be credited
to Working Funds Reserve, subject to the required
by-law being passed.
With the finalization of our audit for 1980, our actual surplus for
the year ended December 31, 1980, is $14,637. Since the surplus is
reduced from the estimate, I recommend that the commitment which we
have made to Handi-Transit be funded through the surplus in the
amount of $5,000 and that the remainder of the surplus be credited
to Working Funds Reserve.
The other two items which were to be funded from the surplus, being
that of the repairs to the Orono Fire Hall in the amount of $30,000,
and repairs to the Hampton Hall Roof and Bowmanville Arena Roof, in
the amount of $20,000 be considered again in the 1982 budget proposals.
�z
K. Ca {fib 11 .
R81-SP__1