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Home My WebLink AboutFND-015-03 Cl!J!ilJglOn REPORT FINANCE DEPARTMENT Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MONDAY, JUNE 16,2003 riD Resolution #: GR9-3/i-CJ5 r- Date: Report #: FND-015-03 File#: By-law #: Subject: ANNUAL STATEMENT FOR THE DEVELOPMENT CHARGES RESERVE FUNDS FOR THE YEAR ENDED DECEMBER 31, 2002 Recommendations: It is respectfully recommended the General Purpose and Administrative Committee recommend to Council the following: 1. THAT Report FND-015-03 be received for information. Submitted by: Reviewed bYU ~-!- ~ Franklin Wu Chief Administrative Officer NMT/hjl 1311 . REPORT NO.: FND-015-03 PAGE 2 BACKGROUND 1.0 In accordance with Bill 98, an Act to promote job creation and increased municipal accountability while providing for the recovery of development costs related to new growth, Schedule "A" attached shows the activity in the Development Charges Reserve Funds for the year ended December 31, 2002. 2.0 For the year ended December 31, 2002, a total of 701 residential building permits were issued. Approximately 826 units were anticipated for 2003 in the development charge study review and update. Also, a total of 24 capital projects have been financed by the Development Charges Reserve funds. Attachments: Schedule "A" - Development Charges Study Review and Update Schedule "B" - Committed Amounts from Prior Years' Budgets/Council Approvals Schedule "C" - Capital Expenditures CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1C 3A6 T (905)623-3379 F (905)623-0608 1312 DN;DCRF 2OO2I02DCRF MUNICIPALITY OF ClARlNGTON DEVELOPMENT CHARGES RESERVE FUNDS STATEMENT FOR THE 2002 YEAR SCHEDULE A GENERAL UBRARY FIRE INDOOR PARK DEV. PUBUC WORKS ROADS AND STORMWATER TOTAL GOVERNMENT BOARD DEPARTMENT RECREATlON AND FACILmES DEPARTMENT RELATED DRAINAGE & CONTROL SERV. Balance as of December 31, 2001 54,069 385,824 (701,78n (508,346) 1301,309) (4,813,649) (5.885,198) PLUS: Development Charge Proceeds (191,293) (237,030) (293,147) (1,088,859) (617,728) (289,106) (2,079.069) (4,796,233) Accrued Interest Apportionment (1,,",,,) (20,662) (1,980) (14,591) (11,221) (138,868) (188,727) Transfer from Reserve Fund Transfer from Capital Fund (5,000) (2,654) (7,654) Transfer from Revenue Fund SUBTOTAL (192,699) (237,030) (318,809) (1,090,840) (632,319) (302.981 ) (2,217,937) (4,992,614) LESS: Amount Transferred to Capital Fund * 18,154 312,101 797,602 38,424 1,179,250 2,345,531 Transfer to Revenue Fund 52,364 107,100 159,464 SUBTOTAL 52,364 107,100 18,154 312,101 797,602 38,424 1,179,250 2,504,995 CN Ooslna Balance as of Deeember 31, 2002 (86,266) 255,894 (1 ,002,442) (na,739) (343,062) (565,866) (5.852.336) (8,372,816) CN Committed Amounts from Prior Years ... 2,470 12,245 37,424 4,610,667 4,662,806 Balance Avaiable for Future Needs (86.265) 255,894 (1,002.442) (776.269) (330.818) (528,442) (1,241,669) (3,710,010) . See Schedule C .* See Schedule B NOTE: Total Development Charges COllected on behalf of the Region in 2002 5,137,574 Less: Amounts paid to the Region (5,127.432) Total Development Charges due to the Region at December 31, 2002 10,142 DN.DCRF 2002/02DCRF MUNICIPAliTY OF CLARINGTON SCHEDULE B DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2002 YEAR COMMITTED AMOUNTS FROM PRIOR YEARS' BUDGETS/COUNCIL APPROVALS YEAR PROJECT / DESCRIPTION AMOUNT COMMITTED RESERVE FUND: ROADS AND RELATED DEVELOPMENT CHARGE 1999 to 2002 Capital Budget -road reconstruction 4,228,144 -storm sewer 361,281 -sidewalks 3,890 -street lights 4,732 -road surfacing 12,620 Total 4,610,667 RESERVE FUND: INDOOR RECREATION DEVELOPMENT CHARGE 2001 Capital -Courtice Community Park - Arena project-design 2,470 Total 2,470 RESERVE FUND: PARK DEVELOPMENT & FACILITY DEVELOPMENT CHARGE 2000 Council -Courtice Parks Baseball Assoc.-batting cage 4,958 2001 Council -Wabridge Park NBHD Park deveiopment 7,287 Total 12,245 RESERVE FUND: PUBLIC WORKS DEPARTMENT DEVELOPMENT CHARGE 2001 Capital -miscellaneous equipment 23,199 2002 Capital -miscellaneous equipment 14,225 Total 37,424 TOTAL COMMITTED TO DEVELOPMENT CHARGES RESERVE FUNDS 4,662,806 1314 DN:DCRF 2OO2/02DCRF MUNICIPALITV OF CLARINGTON SCHEDULE C DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2002 YEAR CAPITAL. EXPENOITURES DIC R/F NONDIC RIF AMOUNT FINANCING FINANCING DESCRIPTION Fire Deoartment: Vehicle 17,792 13,665 Fife Depar1ment DIG RIF 3,927 Tax Levy Land Acquisitioo 4,810 4,289 Fife Department DIG RIF 521 Municipal Capital Works RIF IndOOf Recreation: Expansion CCG fitness centre 401,483 311,591 Indoor Reaeation DIG RIF 89,892 Municipal Capital Works RlF Design fees. GGe expansion 567 51. Indoor Reaeation DIG RIF 57 LegallConsu/tlProf. Fees Reserve Park Develoomenl and Facilities: GulIdwood N BHD park development 591,555 512,346 Park Dev. & Fac:ilities DIG RJF 4,394 Tax Levy 74,815 General Capital Reserve Walbridge NBHO park developmenl 329,358 285,257 Park Dev. & Fac:iIities Ole RJF 6,341 Public Works & Parks Capilal RIF 37,760 General Capital Reserve Public Works Deoartment Purchase Misc. Equipment Hampton 7,891 5,932 Public Works Department DIC RJF 1,_ Tax Levy Purchase New Equlpmenl Hampton 43,218 32,492 Public Works Department DIC RJF 10,727 Tax Levy Roads and ~Ied: Mearns Ave, Bowmanville. Street Ughting 36,466 30.201 Roads and Related DIC RJF 6.285 ~1~IRese~ Longworth Ave, Bowmanville 54,552 46,096 Roads and Related DIC RJF 1,801 Roads ConIributIon RJF 6,655 MuniclpaI Capital WOIks Prestonvale Road, Courtice 587,106 460.467 Roads and Related OIG RlF 78,275 WorkingFlXlds 48,363 Tax Levy Glean Road, Bowmanvle 32,901 30,019 Roads and Related DlC RJF 2,882 OeveloperConlribution Concession Street, Bowmanville 1,277,033 406,735 Roads and Related DlC RJF 535,494 Roads Contribution RIF 247,165 WorKing Funds 87,639 Tax Levy Roenick Drive, Bowmanville 50,772 16,171 Roads and Related OIG RJF 21,290 Roads Gontribution RJF 9,827 Working Funds 3,484 Tax levy Edward Street, NewcasUe 7,068 5,471 Roads and Relaled Ole R1F 1,597 Public Works and Pal1<$ Capital TrulI& Road, Courtice 42,044 37,776 Roads and Relaled Ole RJF 1,633 General Capital Reserve 2,634 Tax Levy Nash Road, Courlice 9,659 7,348 Roads and Relaled OIG R1F 2.310 Roads ConCriJution RJF WeIIingkln Street, Bowmanvilla 813 7. Roads and Related DiG RJF 7.3 Gerwal Capital Reserve Martin Road, Bowmanvile 980 758 Roads and Related DIC RJF 221 Public Works and Parka Capilal Truls Road, COU'tice . Sidewalk 36,066 34,043 Roads and Related DiC RJF 2,023 Tax Levy Liberty Street. Bowmanv~le - Sidewalk 27,276 24,822 Roads and Related DIG RlF 2,455 Tax Levy Baseline Road, Bowmanvile. Sidewalk 69,319 63,919 Roads and Related Die RJF 5,400 Tax Levy Spry Avenue, Bowmanville. Sidewalk 16,704 15,354 Roads and Related OIG RIF 1,350 Taxl.eYy TOTAL CAPITAL EXPENDITURES 3,645,453 18,154 Fire Department Ole RJF 312,101 Indoor Recreation DIe RIF 797,602 PaD: Dev. & Facilitie& Ole RJF 38,424 Public Works Department Ole RJF 1,179,250 Roads and Related Ole RJF 2,882 Developer Contribution 335.267 Wor1dng FW'lds Reserve 57 LegalfConsu/tlProf. Fees Reserve 97,068 MunIcipal Capllal WOtkS RJF 174,355 Tax Levy 560,896 Roads Conlributlon RIF 8,160 Public Works ~~11<$ Capital RJF 121237 General Ca tal Reserve TOTAL FINANCING 2,345,531 1,299,922 1315