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Home My WebLink AboutFND-017-03 . (j. II L~~ REPORT FINANCE DEPARTMENT Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MONDAY, JUNE 16,2003 Resolution #:GP/1-:3Ib -D3 Date: Report #: FN 0-0 17 -03 File#: (to. ( A_ By-law #: Subject: CASH ACTIVITY - FIRST QUARTER OF 2003 Recommendations: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Report FND-017-03 be received; 2. THAT in accordance with provision of Chapter 25, Section 286 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 2003, 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: Nancy ylor, .BA, CA, Director of Finance. Reviewed bQ~~~ Franklin Wu, Chief Administrative Officer. NT/LB/hjl 1327 REPORT NO.: FND-017-03 PAGE 2 BACKGROUND AND COMMENT: The attached schedules indicate the Corporation of the Municipality of Clarington's cash transactions for the first quarter of 2003, the cash investment position, the taxes receivable position, statistical information and transit revenue and expenditure for the month ending March 31, 2003 and the comparative information for the month ending March 31, 2002. The attached schedules for the development charges information is for the months of January, February and March 2003. Attachments: Attachment A - Analysis of Revenue and Expenditures - First Quarter of 2003 Attachment B - Continuity of Taxes Receivable - As at March 2003 Attachment C - Statistical Information - As at March 2003 - Transit Revenue and Expenditure - As at March 2003 Attachment D - Investments Outstanding - As at March 2003 Attachment E - Development Charges Information - January 2003 Attachment F - Development Charges Information - February 2003 Attachment G - Development Charges Information - March 2003 CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1 C 3A6 T (905)623-3379 F (905)623-4169 1328 CORPORATION OF THE MUNICIPALITY OF CLARINGTON PART "A" Analysis of Revenue and Expenditures for the First Quarter of the Year 2003 :~'i:i~fq~~~M First Quarter . , '.,t.OO:t 2002 REVENUE RECEIVED FOR GENERAL OPERATING AND RESERVE FUND PURPOSES: '",'-'-'-'-"-" .... ...... .. ." .... ','-.,"--'-'-" .. ,_.-.-.-,-,-. '",'--'--"'" .' ---.. . .." ...., "'-'--'-""" ..-.,-,---.-,-,'.. ... '-'--"" . -' ,-.-,'., "'-' '-""" .-.-.--.-.........,-,... ....-. .". "-'-'--'-'-'" . .-... . '-' ".-'.".'-'" .-----....". .....-. .""., "-'-'--", ,.-,. . .-.... . '-' "','.".'-'-" .._.,......',,'.. . .--.... ,.... .... .-.... '."--':',',','-'-" ...,.......',,-.. ~1:;pPri~r9.:~ M?~;~*~ ??,<li:l<i ':::::;:~}~;~ H~;ppq UP "??~iil1? ~~im Ui~,+.n . 'l'oHH19' TAX PAYMENTS RECEIVED LINEAR PROPERTiES PROViNCE COMMUNITY REiNVESTMENT FUND CANADIAN WASTE RENT AND ROYALlTIES DURHAM REGION PROVINCIAL OFFENCES ACT BOWMANVILLE HERITAGE BOOK SALES DEVELOPMENT CHARGES-TOWN INTEREST DEVELOPMENT CHARGES-SCHOOL BOARD DEVELOPMENT CHARGES-REGION 26,809,766 1,791,621 29,000 12,840 159,423 90 724,152 478,935 95,488 829 B48 ..'::,:,':',:-:.....;.. .":::::::::::",,::::: :\2258745 30931 163 USE OF FUNDS: ............. .,'.. -...... ..........._..-...... . -. .... . '..--'-.---. .."':-:'-:.';'->.. ..,,_.,.-... .........-..-.._-. . . . . . - . -. . , '... .---.-- .-. '., '-. .-.-,-., .-'-..--'-..--.-.-'.. ....... '-..."... .--'-. -'.'.. .. '-. .-,-.'., .-'--.--'-.-"". ...... ......-'-,.... A,i$i@L :di;~1~;9~': 5:~~,$W ltt~~ci1i' PAYROLL REGION LEVY SCHOOL BOARD LEVIES GENERAL~[NCLUDING CAPITAL EXP. """ 3,821,964 8,087,993 5,963,054 12456714 : ~:~ ':' U ':;~: ~,~: ~::' ~ :3()'234980: 30329725 NET CASH PROVIDED (USED) I FINANCIAL POSITION: BANK BALANCE DEe. 31 2002 GENERAL FUND RESERVE FUND MUNICIPAL BOND INVESTMENTS HOST COMMUNiTY FUND IN TRUST INVESTMENTS (GENERAL + RESERVE FUNDS) 3,S27,7S5 1,782,568 2,350,131 10,000,000 63391 350 TOTALS 81051804 601 438 NET CASH. ..... ...... MN~ BANK PROVIDED :./'IiJ'.iLANC, BALANCE I (USED)MAR.:lP2W:\ MAR. 30 2002 .".".".". ....".". " .. .".". .".".".". ..-.,,-". 2,321,383 ::::::::$~:849U:3~: 234,1712,Qi~mi1. 30,853 :::::::t~~,~~,*~1:~ o <::~qi@fqQPH (612 642) '~21tB'101i .".".-...... .'.,..,-....-.-..-. ."."....... .".....-.--.-.-.-. 1 973 765a,Q2556'1 6,854,315 4,982,244 2,256,206 10,000,000 SS 963 615 BO OS6 3BO BANK BALANCES AS AT, AN. 31 2003 AN. 31 2002 FEB. 28 2003 FEB. 28 2002 GENERAL FUND 4, 116,737 3,844,701 7,141,954 11,624,574 RESERVE FUND 60i,7B9 5,138,977 1,351,617 4,170,360 MUNICIPAL BOND INVESTM,NTS 2 360 B42 2236041 2 370 375 2 245 563 NOTE A: Difference in comparison between years due to timing difference in receipt of funds. 1329 RPORATION OF THE MUNICIPALITY OF CLARlNGTON tinuiry of Taxes Receivable r the First Quarter of the Year 2003 January 1,2003 BEGINNING BALANC RECEIVABLE CURRENT YEAR TAXES PENALTY AND INTEREST (935,605) FIRST PRIOR YEAR TAXES PENALTY AND INTEREST 4,864,558 219250 SECOND PRIOR YEAR TAXES PENALTY AND INTEREST 1,660,508 182 063 HIRD & PRIOR YEARS TAXES PENALTY AND INTEREST 1,727,618 645399 TOTAL 8363791 Includes refunds, write-offs, 496's, etc. NOTE I: 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) INTEREST ADDED 71427 TAXES BILLED BALANCE PAYMENTS lAD UST.**'" 122,158 4,986,716 (1,672,949) 160 841 380091 160701 21,726 1,682,234 (366,557) 56912 238975 83445 5,280 1,732,898 (251,548) 59047 704 446 89469 348227 19948515 28660533 23389018 NOTE 2: 2003 AND 2002 Interim Installment months: February and April. 19,799,351 18,863,746 71427 (20,712,042) 52307 NOTE 3: March 2003 Current ear taxes are in a ne tive sition because the re resent e id taxes for A ril 2003 instlllment. 1330 PART "B" MARCH 2002 Note 2 631,918 34319 2,367,388 231 177 2,631,292 203820 1,551,823 587872 8 239 609 CORPORATION OF THE MUNICIPALITY OF CLARlNGTON PART "C" STATISTICAL INFORMATION FOR THE MONTH OF MARCH YEAR TO DA IE Tax Certificates 98 142 Number of Properties eligible for Tax Registration (see Note 1) 119 ** see Note 2 Accounts Payable Cheques Issued #51423 to #51922 512 1,648 Transit Total Adult Ridership (USee Note 3) 1,086 6,621 Transit Total Student Ridership 2,973 17,691 Transit Total Sr.lChild Ridership 364 1,624 Transit Total Transfers 279 1,280 Number of Births Registered 0 1 Number of Deaths Registered 25 102 Note 1: Only includes those properties whose arrears are greater than $10,000. Note 2: Number of eligible properties for tax registration not applicable for year-to-date comparison. TRANSIT REVENUE AND EXPENDITURE FOR THE MONTH OF MARCH YEAR TO DATE REVENUE TRANSIT REVENUE 7,640.93 39,785 EXPENSES MISCELLANEOUS OPERATING 1,155.60 3,945 TRANSIT CONTRACT 43,059.48 128,340 OPERATING LOSS (36,574.15) (92,500) CAPITAL EXPENDITURES 1,583.00 5,057 Note: The Transit revenue for March was lower than anticipated due to a 15 day labour related service disruption. 1331 CORPORATION OF THE MUNICIPALITY OF CLARINGTON INVESTMENTS OUTSTANDING AS AT MARCH 31, 2003 PART "D" I I FINANCIAL INVESTMENT INTEREST # OF DAYS MATURITY MATURITY INSTITUTION COST RATE O/S VALUE DATE GENERAL FUND TO 1,984,330.80 3.07% 46 1,992,000.00 May 2/03 TO 2,493,850.00 3.00% 30 2,500,000.00 Apr. 3/03 TO 2,488,600.00 3.04% 55 2,500,000.00 Apr. 30/03 MTL 1,876,896.00 2.79% 160 1,900,000.00 Apr. to/03 TO 1,969,000.00 2.83% 203 2,000,000.00 May 22/03 MTL 1,964,680.00 2.84% 231 2,000,000.00 Jun. 19/03 TOTAL GENERAL FUND iM:n:;~$M(f RESERVE FUND RBC 182,177.00 6.20% 1,095 218,206.00 Aug 1/03 RBC 1,425,999.88 5.11% 1913 1,851,467.00 June 1/06 RBC 1,683,100.32 5.15% 2019 2,221,035.00 Sept.15/06 RBC 1,855,574.20 5.15% 1913 2,414,000.00 June 1/06 RBC . 295,000.00 8.50% 3285 295,000.00 May 26/04 RBC 495,186.85 4.00% 1171 561,500.00 Jun. 6/06 RBC 1,379,343.53 4.65% 2085 1,787,409.00 Dec. 1/08 RBC 771,999.33 5.40% 1596 970,580.00 Nov 27/03 RBC 1,566,467.00 5.45% 1826 2,042,463.00 Jan.29/06 RBC . 1,114,680.00 4.90% 730 1,114,680.00 June 26/03 RBC . 500,000.00 6.50% 365 500,000.00 June 21/03 TO 10,479,364.62 3.04% 34 10,509,000.00 Apr. 22/03 RBC . 481,878.00 4.45% 1827 599,072.41 Mar. 4/08 RBC . 2,513,000.00 5.00% 365 2,513,000.00 May 9/03 WOOD GUNDY' 250,000.00 6.50% 1839 250,000.00 June 21/03 RBC . 500,000.00 5.00% 365 500,000.00 June 21/03 RBC 1,815,962.00 5.00% 1825 1,906,760.10 Feb. 7/07 RBC 601,664.00 5.30% 1461 739,720.00 Feb. 5/05 RBC . 1,482,702.57 5.50% 1825 1,487,000.00 Feb. 1 3/06 RBC . 1,400,000.00 3.50% 730 1,449,000.00 Nov. 28/03 RBC . 1,342,000.00 4.00% 365 1,342,000.00 Feb. 10/04 1332 CORPORATION OF THE MUNICIPALITY OF CLARINGTON INVESTMENTS OUTSTANDING AS AT MARCH 31, 2003 RESERVE FUND RBC RBC RBC RBC' RBC . RBC RBC WOOD GUNDY' RBC RBC RBC RBC RBC RBC RBC RBC RBC RBC RBC HSBC RBC' RBC' TOT AI. RESERVE FUND TOT AI. INVESTMENTS 1,566,466.88 1,081,662.88 519,255.00 250,000.00 250,000.00 1,323,000.00 81,049.00 638,000.00 534,782.00 43,523.00 942,893.00 855,000.00 827,385.00 1,520,617.00 548,000.00 534,978.37 1,165,896.00 118,693.50 1,000,000.00 1,510,658.22 2,000,000.00 553,392.00 $p;QQ!,~$i;($' · . . . . . . . . . . , . . , , ".. ......--...-- . ................. ...........".". .-.-.-.-..-,-.-,.-.,','.',',-. ............."., "'--.--"-'.. ....... .... ....... . .."....".".". . i(,~i7~io7W$'. 5.30% 3.24% 3.30% 4.75% 5.25% 5.15% 2.25% 5.40% 3.30% 5.50% 6.30% 5.35% 2.50% 5.35% 5.40% 5.20% 3.05% 5.10% 4.45% 3.05% 3.75% 3.70% . Investment interest paid on a monthly/semi-annual/annual basis 1333 1386 635 649 1839 180 730 365 1598 730 1095 1825 1832 369 1826 1507 1729 335 1976 1827 90 365 732 1,904,519.00 1,143,286.00 550,000.00 250,000.00 250,000.00 1,457,284.50 82,872.60 638,000.00 570,660.00 51,107.00 1,239,904.30 1,065,102.90 848,069.63 1,973,297.00 548,000.00 679,942.00 1,200,000.00 155,297.00 1,243,203.49 1,522,019.20 2,000,000.00 553,392.00 PART liD" Nov. 15/04 Sept. 1 5/04 Oct. 1 /04 June 21/03 Jun 21/04 May 1/03 May 3/03 June 1/05 Dec. 23/04 Dec.21/03 Oct 27/03 Mar 1/04 Apr. 1/03 Mar.15/07 Apr 7/03 Dee 1/03 Nov. 3/03 Oct. 1 5/04 Aug. 09/07 Jun. 2/03 JuI. 23/03 Sept. 23/03 CORPORATION OF THE MUNICIPALITY OF CLARINGTON JANUARY 2003 Building Permit No. Name of Owner/Applicant Construction Address 03.0010 Everest Development Corp. Ltd. Squire Fletcher Dr., Bowmanville 40M--2094 Pt Lot: 21 02.1114 Edward Wallis 3362 Concession Rd., Clarke 10R--1546 Part: 2 PART "E" Develo ment Char es Education Education Town Re ion En IIsh Se arate En Iish Public 7,456.00 10,335.00 219.00 704.00 7,456.00 2,662.00 219.00 704.00 02.1061-4,67--82,85--8 S1. Stephen's Estates 298,240.00 367,760.00 8,760.00 28,160.00 93--104,107--110 Madden PI., Bowmanville 40M--2133 pt Lot: 7-8, 12--19, 21--22, 24-29 Blk 71 02.1117--8 Vintage Homes 14,912.00 18,388.00 438.00 1,408.00 Mann St., Bowmanville ~ 40R--21275 Part 3/4 l.N l.N ~ .............. ,;,:,:,;,:-":,,,,,:-,-:-,,;-;-:-';. "".:.,.-,-.'.-,-.'.-,'.',-.:,', -,"'---,'-,-,,":' ::.;.."....,-,..-,-..-......,.. TOTALS ...........76t;s21.Qi) 328,064.00 399,145.00 9,636.00 30,976.00 CORPORATION OF THE MUNICIPALITY OF CLARINGTON JANUARY 2003 CONTRIBUTIONS - CASH-IN-L1EU Total Cash-in-Lleu of Parkland CONTRIBUTIONS - ENGINEERING Prestonvale Heights Ltd. Total Engineering and Inspection , CONTRIBUTIONS - ROADS 1249981 Ontario Limited -~ l.N l.N Total Roads Contributions en OF PARKLAND AND INSPECTION FEES Fees Contributions PART "E" engineering 63,142.19 63,142.19 40M1945 5,457.00 5 457.00 CORPORATION OF THE MUNICIPALITY OF CLARINGTON PART "F" FEBRUARY 2003 Halloway Holdings , 8T82037 . PART "F" . 1.300.00 1 300.00 21.776.09 21 776.09 0.00 CORPORATION OF THE MUNICIPALITY OF CLARINGTON FEBRUARY 2003 CONTRIBUTIONS - CASH-IN-L1EU OF PARKLAND McCaul LD248/02 Total Cash~n-Lleu of Parkland CONTRIBUTIONS - ENGINEERING AND INSPECTION FEES Total Engineering and Inspection Fees Contributions v.J v.J "'"-.,J CONTRIBUTIONS - ROADS Total Roads Contributions CORPORATION OF THE PART"G" MUNICIPALITY OF CLARINGTON MARCH 2003 Building Name of Owner/Applicant Develo Permit No. Construction Address Town lish Public 03.0121,03.0117 Ridge Pine Park Inc. 14,912.00 0.00 438.00 1,408.00 Hinkley TI., Wilmot Creek pt Lot: 912, 917 03.0115, 03.0119, Ridge Pine Park Inc. 22,368.00 0.00 657.00 2,112.00 03.0120 Birch Tree., Wilmot Creek pt Lot: 902,918, 934 03.0118 Ridge Pine Park Inc 7,456.00 0.00 219.00 704.00 4 Fir Dr., Wilmot Creek pt Lot: 937 03.0116 Ridge Pine Park Inc 7,456.00 0.00 219.00 704.00 86 Wilmot TI., Wilmot Creek Pt Lot: 184 02.1135,03.0106, Dunbury Homes (Bowmanville) Ltd 29,824.00 41,340.00 876.00 2,816.00 03.0107, 03.0059 Rickaby St., Bowmanville 40M-2096 pt Lot: 29, 22, 25, 35 02.0333, 34 Dunbury Homes (Bowmanville) Ltd 14,912.00 20,670.00 438.00 1,408.00 Longworth Av, Bowmanville 40M-2096 pt Lot: 2, 3 02.1136,03.0060 Dunbury Homes (Bowmanville) Ltd 14,912.00 20,670.00 438.00 1,408.00 Eldad Dr., Bowmanville 40M-2096 pt Lot: 105, 56 02.1129 Clarnew Developments Inc. 7,456.00 799.00 219.00 704.00 William Jose Ct., Newcastle 40M-2038 pt Lot: 87 02.1010 Clarnew Developments Inc. 7,456.00 799.00 219.00 704.00 Bloom Av., Newcastle 40M-2038 pt Lot: 78 CORPORATION OF THE PART "G" MUNICIPALITY OF CLARINGTON MARCH 2003 B' Name of Owner/Applicant Develo Permit Construction Address Town En Iish Public 02.0968, 69 Clarnew Developments Inc, 67,104.00 59,843.00 1,971.00 6,336.00 02.1020. 02.1127, Brookhouse Dr., Newcastle 03.0061, 63, 64, 65 OM-2038 pt Lot: 5, 7, 26, 31,45, 110 L&R 111 L&R 03.0122,23,24,25 673666 Ontario Limited, Jamie Mcinnis 29,824.00 19,800.00 876.00 2,816.00 High St., Bowmanville OM-2022 pt Lot: 6 R&L, 7 R&L 03.0131 ohn Stephenson 0.00 0.00 219.00 704.00 Hawke Ct., Burketon 10M-753 pt Lot: 6 ~ 03.0062 Clarkway Construction 7,456.00 10,335.00 219.00 704.00 l...N Brookhouse Dr., Newcastle l...N 40M-2038 Pt Lot: 6 -..::; 03.0149-52 Primrose Heights Ltd 29,824.00 41,340.00 876.00 2,816.00 Bridle Ct., Courtice 40R-19835 pt 1-8 40M-2106 pt Lot: 3, 4,6,7 03.0038-42 Green Martin Holdings Ltd 37,280.00 51,675.00 1,095.00 3,520.00 Hammond St., Bowmanville 40M-2087 pt Lot: 1-5 03.0099,100,102,1 Halminen Building Corp 29,824.00 41,340.00 876.00 2,816.00 Bellman Ct., Courtice 40M-2132 pt Lot: 6, 7, 9, 10 02.1159,60 Halminen Building Corp 14,912.00 18,388.00 438.00 1,408.00 Staples Av., Courtice 40M-2113 Pt Lot: 124 R&L CORPORATION OF THE PART "G" MUNICIPALITY OF CLARINGTON MARCH 2003 Building Name of Owner/Applicant Develo Permit No. Construction Address Town Iish Public 02.1147,49,50,51 Halminen Building Corp 29,824.00 36,776.00 876.00 2,816.00 Cornish Dr., Courtice 40M-2113 PI Lol 144 R&L, 146 R&L 02.1153 Crossland Homes 7,456.00 10,335.00 219.00 704.00 Brooking St., Bowmanville 40M-2096 PI Lot: 73 03.002 Crossland Homes 7,456.00 10,335.00 219.00 704.00 Longworth Av., Bowmanville 40M-2096 PI Lot: 47 ~ 02.0848 TDL Group 3,066.22 5,241.90 181.85 575.67 \..N 1502 Highway 2, Courtice -+"- Conc 2 PI Lol 33 c::> 03.0043 - 57 Green Martin Holdings Ltd. 37,280.00 51,675.00 1,095.00 3,520.00 Padfield Dr., Bowmanville 40M-2087 PI Lot:16 - 26,35 - 38 03.0191 Ridge Pine Park Inc. 7,456.00 0.00 219.00 704.00 26 Birch Tree Lane, Wilmol Creek Conc: BF Lol 3 PI Lot: 932 TOTALS 435,514.22 441,361.90 13,102.85 42,111.67 CORPORATION OF THE MUNICIPALITY OF CLARINGTON PART "G" MARCH 2003 CONTRIBUTIONS - CASH-IN-L1EU OF PARKLAND Total Cash-In-Lieu of Parkland 0.00 CONTRIBUTIONS - ENGINEERING AND INSPECTION FEES _ Clarnew DevelopmE 18T -88061 t...N ..,.. - Total Engineering and Inspection Fees Contributions 46.929.44 46,929.44 CONTRIBUTIONS - ROADS Total Roads Contributions 0.00