The URL can be used to link to this page

Home My WebLink AboutFND-012-05 ~!![-!lJgton REPORT FINANCE DEPARTMENT Date: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE TUESDAY, SEPTEMBER 6,2005 Resolution #: NJIf-3'f{",- ()$. Meeting: Report #: FND-012-05 File#: By-law #: Subject: CASH ACTIVITY - FIRST QUARTER OF 2005 Recommendations: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Report FND-012-05 be received; 2. THAT in accordance with provision of Chapter 25, Section 296 of the Municipal Act, S.O. 2001, the Treasurer reports the cash position of the Municipality of Clarington for the first quarter of the year 2005, as shown on the attached schedule; and 3. THAT Part "A" of the expenditures for the first quarter of the year be confirmed. Submitted by: (jt"- Nanc Taylor, B.B.A., CA, I Director of Finance. ? R.,jewed bY'~~ ranklin Wu, ./r Chief Administrative Officer. NT/AAllg REPORT NO.: FND-012-05 PAGE 2 ______________________________________________________________________ BACKGROUND AND COMMENT: The attached schedules indicate the Corporation of the Municipality of Clarington’s cash transactions for the first quarter of 2005, the cash investment position, the taxes receivable position and the comparative information for the month ending March 31, 2005. Statistical information, transit revenue and expenditure schedule is for the first quarter of 2005. ______________________________________________________________________ Attachments: Attachment A – Analysis of Revenue and Expenditures – First Quarter of 2005 Attachment B – Continuity of Taxes Receivable – As at March 2005 Attachment C – Statistical Information – As at March 2005 -- Transit Revenue and Expenditure – As at March 2005 Attachment D – Investments Outstanding – As at March 2005 CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T (905)623-3379 F (905)623-4169 CORPORATION OF THE MUNICIPALITY OF CLARINGTON Analysis of Revenue and Expenditures for the First Quarter of the Year 2005 PART "A" FirstOuarter First Quarter 2005 2004 REVENUE RECEIVED FOR GENERAL OPERATING AND RESERVE FUND PURPOSES: GENERAlJfAX PAYMENTS RECEIVED 2M14,023 28,888,748 PROVINCE. COMMUNITY REINVESTMENT FUND 29,000 0 LINEAR PROPERTIES 2,122.438 1,775,368 CANADIAN WASTE - RENT AND ROYALlTIES 12,1G5 11,205 DEVELOPMENT CHARGES-MUNICIPAL 1,089,336 1,201,707 DEVELOPMENT CHARGES-SCHOOL BOARD 152,132 174,408 DEVELOPMENT CHARGES-REGION 1 ,749,080 1,508,539 INTEREST 458039 336 566 34406213 33896541 USE OF FUNDS: PAYROLL 4,404,243 3,904,828 REGION LEVY 12,430,D48 9,451,884 SCHOOL BOARD LEVIES 4,536,377 4,419,073 GENERAL-INCLUDING CAPITAL EXP'" 14492 606 10 976 949 35 853274 28752734 NET CASH PROVIDED (USED) 11 457 061 5143 B07 BANK NET CASH BANK BANK BALANCE PROVIDED BALANCE BALANCE FINANCIAL POSITION: DEC. 31 2004 !'USED MAR. 31 2005 MAR. 31 200 GENERAL FUND 6,848,591 (295.649) G,553,942 9,034,476 RESERVE FUND 2,336,437 (2,063,392) 273,045 1,675,554 MUNICIPAL BOND INVESTMENTS 2,576,927 26,927 2,603,854 2,495,304 HOST COMMUNITY FUND IN TRUST 10,000,000 0 10,000,000 10,000,000 INVESTMENTS (GENERAL + RESERVE FUNDS) 51 267 234 875 053 52142287 54 360 473 OTALS 73029189 {1 457061 71 572128 77 565 807 BANK BALANCES AS AT: JAN. 31 2005 JAN. 31 2004 FEB. 28 2005 FEB. 28 2004 GENERAL FUND 3,776,158 5,594,207 14,868,371 12,719,456 RESERVE FUND 264,718 1,026,364 268,503 1,728.229 MUNICIPAL BOND INVESTMENTS 2 586 385 2477 234 2 594 686 2486091 NOTE A: Difference in comparison between years due to timing difference in receipt of funds. CORPORATION OF THE MUNICIPALITY OF CLARINGTON PART "B" ontinuity 01 Taxes Receivable or the First Quarter of the Year 2005 December 31, 2004 MARCH MARCH BEGINNING BALANCE INTEREST TAXES PAYMENTS 2005 2004 RECEIVABLE ADDED BILLED BALANCE IADJUST.u. PREPAID TAXES 11508627 1 508 627 0 CURRENT YEAR TAXES 4,151,955 23,602,665 27,754,620 (30,564,768) (2,810,148) (2,531,019) PENALTY AND INTEREST 192 626 73 520 266 146 (246061 20 085 17673 FI RST PRIOR YEAR TAXES 1,542,273 1,542,273 1,413,579 2,955,852 3,037,397 PENALTY AND INTEREST 189 937 134 946 324 883 (129670 195213 209 593 SECOND PRIOR YEAR TAXE5 789,815 789,815 443,027 1.232,842 1,376,959 PENALTY AND INTEREST 127616 52 339 179 955 /14330 165 625 204,529 THIRD & PRIOR YEARS TAXES 843,511 843,511 466,232 1;309,743 1,427,361 PENALTY AND INTEREST 508921 54 055 562 976 37 925 600 901 608 065 OTAL 8 346 654 314860 23 602 665 32264179 (28 594 066 'R70113 4 350 558 ... Includes refunds, write-offs, 496's, etc. NOTE 1: Tax payments do not tie into Part A due to timing differences since Part A is on a cash basis (ie. Difference due to outstanding deposits) NOTE 2: 2005 AND 2004 Interim Installment months: February and April. NOTE 3: Current year taxes are in a negative position because they represent prepaid taxes lor the April installment. CORPORATION OF THE MUNICIPALITY OF CLARINGTON PART "C" STATISTICAL INFORMATION for the First Quarter of the Year 2005 Year to Date Tax Certificates 181 181 Number of Properties eligible for Tax Reaistration (see Note 1 \' 98 .. see Note 2 Accounts Payable Cheques Issued #67600 to #069513 1,816 1,816 Transit Total Adult Ridership 10,234 10,234 Transit Total Student Ridership 26,934 26,934 Transit Total Sr./Chlld Ridership 2,501 2,501 Transit Total Ridership Across Region (Durham "D' 188 188 Transit Total Transfers 2,124 2,124 Number of Births Reaistered 5 5 Number of Deaths/Stillbirths Registered 161 161 Note 1: Only includes those properties whose arrears are greater than $10,000. Note 2: Number of eligible properties for tax registration not applicable fOI year-to-date comparison. TRANSIT REVENUE AND EXPENDITURE for the First Quarter of the Year 2005 Year to Date REVENUE TRANSIT REVENUE 58,852 58,852 EXPENSES MISCELLANEOUS OPERATING 16,647 16,647 TRANSIT CONTRACT 170,807 170,807 OPERATING ILOSSlIGAIN (128,602' (128,602 CAPITAL EXPENDITURES 0 0 CORPORATION OF THE MUNICIPALITY OF ClARINGTON INVESTMENTS OUTSTANDING AS AT MARCH 31,2005 PART "0" FINANCIAL INVESTMENT INTEREST # OF DAYS MATURITY MATURIT INSTITUTIO~ COST RATE O/S VALUE DATE GENERAL FUND TO 1,998,OBO.00 2.50% 14 2,000,000.00 Apr. 07/05 TOTAL GENERAL FUND 1,998,OBO.00 RESERVE FUND RBC . B06,000.00 3.70% 1,827 806,000.00 Jul. 09/08 RBC 1,425,999.B8 5.11% 1913 1,851,467.00 June 01/06 RBC 1 ,6B3, 100.32 5.15% 2019 2,221,035.00 Sept.15/06 RBC 1,B55,574.20 5.15'% 1913 2,414,000.00 June 01/06 RBC . 2,653,000.00 4.00% 365 2,653,000.00 Mey 25/05 RBC 495,1 B6.85 4.00% 1171 561,500.00 Jun. 06/06 RBC 1,379,343.53 4.65% 20B5 1,7B7,409.00 Dec.Ol/0B RBC 739,93B.B6 3.55% 1704 B69,BOO.00 Oct. 05/09 RBC . 1,450,000.00 4.10% 366 1,450,000.00 Dec. 01105 RBC 1,566,467.00 5.45% 1826 2,042,463.00 Jan.29/06 RBC 500,000.00 3.25% 1B27 595,239.37 June 21/0B RBC 500,000.00 6.75% 1460 6B3,40B.B4 June 21/05 RBC 4Bl,B7B.00 4.45% 1B27 599,072.4 1 Mar. 04/08 RBC B68,578.00 4.10% 109B 979,B53.00 Apr. 03/06 RBC . 970,000.00 3.20% 372 970,000.00 Mar. 1 9/06 RBC 500,000.00 6.25% 1095 57B,7B2.97 June 21/04 RBC . 1,B15,962.00 5.00<% 1825 1,B15,962.00 Feb. 07/07 RBC . 1,4B2,702.57 5.50% 1825 1,4B7,000.00 Feb. 13/06 RBC . l,4BO,OOO.OO 4.20% 366 l,4BO,OOO.OO Feb. 10/06 RBC 20B,000.00 4.35% lB30 257,351.00 May 12/0B RBC . 2,465,000.00 4.05% 365 2,465,000.00 Jul. 23/05 RBC . 550,000.00 4.00% 730 550,000.00 Oct. 14/06 RBC 1,143,2B5.67 3.80% 1547 1,33B,742.00 Dec. 15/0B RBC 733,772.63 3.85% 19BO 900,445.00 Jun. 02/10 RBC . 380,000.00 4.00% 35B 3BO,000.00 Jun. 15/05 RBC 499,999.38 4.00% 11B2 567,343.00 Jul. 26/06 RBC . 2,061,000.00 4.00% 365 2,061,000.00 Dec. 03105 RBC 1,000,000.00 4.15% 1096 1,129,73B.22 Apr. 10/06 RBC 1,500,000.00 5.50% 1694 1,500,000.00 Dec. 20/07 RBC' 63B,000.00 6.40% 1598 638,000.00 Jun. 01105 RBC' 906,000.00 4.10% 730 906,000.00 Sep. 29/06 RBC 372,440.00 4.40% 1B26 461,912.00 May 2B/09 RBC 1,520,617.00 5.35% 1B26 1,973,297.00 Mar.15/07 RBC 1,000,000.00 4.45% lB27 1,243,203.49 Aug. 09/07 HSBC 1,579,021.90 2.45% 365 1,617,707.94 Oct. 25/05 BMO 10,933,340.00 2.56% B7 11,000,000.00 Apr. OB/05 TOTAL RESERVE FUND 50,144,207.79 TOTAL INVESTMENTS 52,142,2B7.79 ,. Investment interest paid on a monthly/semi-annual/annual basis