HomeMy WebLinkAboutFND-002-03
Cl~mgron
REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date: MONDAY, JANUARY 20,2003 Resolution #:(~'/;'7~( ~5--:c; 3
~ .
Report #: FND-002-03 File #: ;- /0 . CA. By-law #:
Subject: 2003 COMMUNITY REINVESTMENT FUND
Recommendations:
It is respectfully recommended to Council the following:
1. THAT Report FND-002-03 be received;
2. THAT the Province be notified that the Municipality of Clarington intends to use
the 2003 CRF allocation for the benefit of taxpayers by using it to offset the tax
levy; and
3. THAT the Municipality accepts the terms and conditions set forth by the Ministry
of Finance with respect to the CRF allocation.
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Submitted by: IiZ/Ze;
Nanc . T lor, B.BA, CA
Director of Finance
. (~ ~O _ f?^--- \[{
ReViewed by: -.J
Franklin Wu
Chief Administrative Officer
NMT/hjl
1301
REPORT NO.: FND-002-03
PAGE 2
BACKGROUND
1.0 The Municipality of Clarington has received $116,000 in each of the past two
years from the Ministry of Finance for Community Reinvestment Funding.
1.1 The Municipality of Clarington has received confirmation that the same amount
will be received for 2003, which will be paid in four equal instalments of $29,000
each.
1.2 Municipalities are required to submit to the Ministry of Municipal Affairs and
Housing:
(i) A Council resolution declaring the municipality's:
(a) intent to use the CRF Allocations they will receive for the benefit of
taxpayers; and
(b) acceptance of the CRF Allocations in accordance with the deadline and
conditions.
(ii) Financial Information Returns (FIRs) in accordance with the deadline to be set
by Ministry of Municipal Affairs and Housing;
(iii) tax rate by-laws.
Attachment: 2003 CRF Notice
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1 C 3A6 T (905)623-3379 F (905)623-0608
1302
_ JAN t4 2003 9:35 AM FR PROV.LOCAL FUND.UNIT314 3853 TO 919055230508
P.02
Local Services Realignment (LSR)
Community Reinvestment Fund (CRF) . 2001 Year-End Reconciliation
2001 & 2002 Adjustments and 2003 CRF Allocation
($ Tl1ousands)
Town of Clarington
Region of Durham
H. [Residential Education Tax Room
I. I CRF BASE AllOCATION (G. H: 0 if negative)
J. Transit Bonus
K. CRF Bonus
L. Su lementary Assistance
M.TOTALCRFALLOCATION
I rvear-End 2001 I IUpd~ted 2002 '
- 011-
01 0
01 0
I 01 O[
01 0'
dtd~-~
'i Ii I
I \ 245 I I' 2451
I 1,1991 1,199.
. , 8,450 I 7.2531
I. \ (18:1'1 (18:1
-~I -.-. .~
10,1941 8,9971
I
14,05111 14,0511
o
I LSR Programs
Subject to year-end reconciliation:
SOl:ial Assistance
CI1i1d Care
Public Health
Land Ambulance Services
Social Housing
Policing Costs Above $9OII1h
Managed Forests/Conservation Lands Rebate
Farm Tax Rebate
A. T olal of Programs Reconciled
Add:
B. Program costs nO year-end reconciliation
c. \ MunlCipal Support Grant
D. Sl1are of Upper-Tier Net Costs
'1'-- "'""'"'----
Less:
F. Savings Target
G. Net LSR Costs
'11
N. [CRF Payments
O. [CRF Adjustments (M - N)
p.1 Tolal CRF AdiuSllneMs (a + b)
'l
,~.
~.J ~-
Ja
I L.
~/:III ~.~I
11~1~. .._ 11~
'.~! 116.
__.~ r- 1161
01 [b 0 I
o
S'I TOTAL 2003 CRF ALLOCATION
(Q+R) ..
I!
I 116
II 0
II 116
Q.~3CRFALLOCATION
ual to Updated 2002 Total CRF Allocation)
fl. 12.003 CRF stabilization Bonus
Total 2003 ORF A1locaticn of $116,000 will be paid in 4 equallnstallmenlS of $29.000.
'0402
Ontario MinistrY of Finance
1303
** TOTAL PAGE.02 "