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Report To: General Government Committee
Date of Meeting: March 6, 2017
Report Number: FND-002-17 Resolution:
File Number: By-law Number:
Report Subject: Financial Update as at December 31, 2016
Recommendations:
1. That Report FND-002-17 be received for information.
Municipality of Clarington
Report FND-002-17 Page 2
Report Overview
The purpose of this report is to update Council on the overall budget variances as of
December 31, 2016 as well as other financial indicators such as taxes receivable,
investments, debt and development charges collected. These are not audited figures and
are subject to change as the year-end process are complete. This report cannot be used to
forecast the year-end financial position.
1. Background
The financial update has been designed to focus on overall budget variance.
2. Fourth Quarter of 2016 Results
2.1 Attachment 1, Summary of Operating Expenditures and Revenues compares the
Municipality’s budget to actuals as of December 31, 2016. This statement reflects the
Municipality’s operating budget only and excludes year to date financial activities for the
library, museum, BIAs and consolidated hall/arena boards. Year to date expenditures as
of December 31, 2016 totalled $76,173,931 which represents 104% of the 2016 budget.
Year to date revenues totalled $78,984,229 which represents 107.8% of the 2016 budget.
2.2 Attachment 1 is intended to provide an indication of the status of Municipality’s operating
accounts compared to the approved budget as at December 31, 2016. It is very
important to note that the figures presented in this report do not represent final year-end
figures. Year-end accruals and adjustments necessary to ensure revenue and expenses
are charged to the appropriate fiscal year will continue to be done to finalize the 2016
year in order to prepare the Municipal Financial Statements in accordance with the
Canadian generally accepted accounting principles. The external audit of the 2016 year
will be completed at the end of June 2017. The figures for both years do not include all
consolidated municipal service boards activities nor non-cash transactions such as
capital asset amortization and unfunded post-employment. This statement cannot be
used in isolation and does not indicate the final position of the Municipality in either year.
2.3 In 2016, the Clarington Board of Trade (CBOT), as well as the Communications and
Tourism division were transferred to the budget of the Administrator’s office. Previously,
the Clarington Board of Trade was included as a Unclassified Administration line under
the Finance department. Communications and Tourism were included as part of the
Corporate Services department. This will account for the change in the budget figures
from 2016 to 2015 within these departments.
2.4 Municipal taxation revenue is higher than budgeted due to the increase in the
supplementary billing in the fourth quarter. Significant payment in lieu (PIL) assessments
Municipality of Clarington
Report FND-002-17 Page 3
were added to the tax roll including the Ontario Power Generation office building and the
Durham Region Energy from Waste (EFW) facility. This has increased the PIL billings
and education retained portion of the tax billing by approximately $1.3 million.
2.5 The Clerks department net expenditures are 94.6% of the 2016 budget. Revenues are
higher than budgeted at 144.9%. This is mainly attributed to higher than budgeted
parking revenues of $217,930. The higher than budgeted expenditures are due to the
corresponding transfer to the reserve fund of the parking revenues. Cemetery and by-
law revenues are higher than budgeted which have helped offset the lower than
budgeted animal licenses.
2.6 Emergency Services net expenditures are 100.1% for 2016. Emergency call revenues
are unbudgeted and are offset by a corresponding expense which transfers this revenue
to the reserve fund. The increase in the revenues is due to the emergency calls and
other miscellaneous revenues such as charges to Ontario Power Generation as per the
Memorandum of Understanding with them. Expenses overall are on track at 101.7%.
Overall the higher expenses are due to the transfer to reserve funds and higher than
budgeted part-time firefighter wages.
2.7 Engineering net expenditures are 80.4% of the 2016 budget. This is due to the higher
revenues in building inspections and building permits thus reducing the net expenditures.
At the end of the 2016, building permit revenues were at $2,838,221 or 214.7% of the
total 2016 budget. A portion of the building permit revenues are transferred to the
Building Division Reserve Fund to offset expenses during years of low revenues.
2.8 Operations net expenditures are at 102.4% of the 2016 budget. As noted earlier not all
year-end entries have been processed. Due to the late issue of the Courtice Library
debenture, there is no principal payment in 2016. At the time of the 2016 budget it was
estimated that the Courtice Library debenture cost would be $99,000. Operating
expenditures (excluding fleet and debenture payments) are at 105.9% of the 2016
budget. Some of the higher expenditures are hydro cost for street lighting and winter
maintenance which are both conservatively budgeted. Winter maintenance costs will
also be adjusted once the inventory for sand and salt has been finalized. Tree contracts
that cover emergency pruning, stump removal and tree replacement are over budget as
well. This would include emerald ash activities.
2.9 The Community Services net expenditures are at 103% of the 2016 budget. Hydro costs
continue to be over budget by approximately $190,000. Increase in the revenues in
aquatic and fitness have offset lower revenues in ice rentals and canteen sales. With the
increase activities, the associated staffing costs have increased.
Municipality of Clarington
Report FND-002-17 Page 4
2.10 Boards and agencies are on budget for 2016. As noted in previous reports the increase
is due to capital budget transfers to the library approved in prior years. This is offset by a
non-departmental revenue transfer from reserve fund from previous commitments.
2.11 Attachment 2, Continuity of Taxes Receivable as of December 31, 2016 provides the
status of the taxes billed and collected by the Municipality. A total of $3,906,617 in
supplementary tax bills were issued to property owners in the Municipality during the
fourth quarter. At the end of 2016, a total of $2,502,214 remains unpaid compared to
December 2015 taxes receivable of $3,148,772. The net balance is $646,558 lower or
20.5% lower than the previous year at this time. This in part can be attributed to a tax
sale property with significant arrears which was cleared in July 2016. Another factor is
the increased enrolment in the Pre-Authorized Payment (PAP). For those who participate
in the monthly PAP program the monthly payments are taken from December 2015 to
November 2016 for their 2016 property taxes. Monthly PAPs processed in December
2016 are applicable to the 2017 taxes and therefore appear as pre-paid taxes on
Attachment 2. PAPs have increased by $339,331 or by 7.1% when compared to the
previous year. Taxes outstanding continue to be managed by ongoing collection efforts.
2.12 Attachment 3, Investments Outstanding as of December 31, 2016 provides the status of
the Municipality’s general, capital and reserve fund investment holdings at the end of
2016. The Municipality at December 31, 2016 holds $10,016,581.23 in general fund
investments, $0 in capital fund investments, $9,438,736.03 in Development Charge
reserve fund investments and $48,366,737.92 in reserve fund investments. The general
fund investment is with the One Fund High Interest Savings Account (HISA). This
investment offers better returns with high liquidity. Investments held in the Municipality’s
portfolio are assessed on an ongoing basis to ensure they meet the requirements of
Section 418 of the Ontario Municipal Act, Ontario Regulation 438/97 and the
Municipality’s investment policy. Clarington investments are very conservative in nature
and only high quality investments are chosen as per the investment policy.
2.13 Attachment 4, Debenture Repayment Schedule provides the status of the Municipality’s
long term debt obligations as of January 1, 2017. The Municipality will have
approximately $20,283,942.62 in outstanding debt as of January 1, 2017. The debenture
for the Rickard Recreation Complex (RRC) and the Municipal Administrative Centre
(MAC) improvements have not been issued yet by the Region so the associated
repayment plan is an estimate. In 2017, the debt repayment obligations as per the
current debt are $4,000,814.66 which include the estimated figures for RRC and MAC.
The annual principal and interest payments required to service these liabilities continue to
be well within the annual debt repayment limits prescribed by the Ministry of Municipal
Affairs and Housing.
Municipality of Clarington
Report FND-002-17 Page 5
2.14 Attachment 5, Municipal Development Charges as of December 31, 2016 provides the
Municipal Development charges collected separated into residential and non-residential.
In 2016 Residential Municipal Development Charges collected was $10,867,004.27. In
the recent 2015 Development Charges Background Study, it is forecasted that the
Municipality would be collecting approximately 591 residential units in total for 2016 or
about 49 units per month. For 2016 budget considerations, the figure of 600 units (50
units per month) was used for the year. In 2016, there were 945 residential units.
Compared to the previous year there was 4.15% decrease in development charges
collected and a 6.18% increase in the number of units. The decrease in development
charges collected versus the increase in the number of unit is due to the Development
Charges incentive for the Queen Street, Bowmanville project and the higher numbers in
townhouses and apartments. The smaller type units have lower development charges
which results in the decrease in development charges collected when compared to 2015.
2.15 In 2016, Non-Residential Municipal Development Charges collected was $272,599.85.
Compared to the same period the previous year there was 35.27% decrease in
development charges collected. Non-residential development charges are based on the
area in square meters rather than per unit cost so it can be expected to have significant
variances from one year to another.
2.16 In the 2015 Development Charges By-law 2015-035, there are a number of incentives to
encourage development in Clarington. As of December 31, 2016 a total of $568,035.22
in incentives have been given to eight properties. To date there has been one residential
development incentive given to a mid-rise residential development of $413,822.26. The
remaining $154,212.96 has been given to non-residential incentives.
3. Concurrence
Not Applicable
4. Conclusion
It is respectfully recommended that the fourth quarter of 2016 financial update report be
received for information.
5. Strategic Plan Application
The recommendations contained in this report conform to the Strategic Plan.
Municipality of Clarington
Report FND-002-17 Page 6
Submitted by: Reviewed by:
(for) Nancy Taylor, BBA, CPA, CA, Curry Clifford, MPA, CMO
Director of Finance/Treasurer Interim CAO
Staff Contact: Catherine Carr, Manager of Internal Audit, 905-623-3379 ext 2606 or
ccarr@clarington.net
There are no interested parties to be notified of Council's decision.
Attachment 1 – Summary of Operating Revenues and Expenditures
Attachment 2 - Continuity of Taxes Receivable
Attachment 3 – Investments Outstanding
Attachment 4 – Debenture Repayment Schedule
Attachment 5 – Municipal Development Charges
NT/CC/hjl
The Municipality of Clarington
Summary of Operating Expenditures and Revenues for 2016 (not final figures)
Attachment 1 for FND-002-17
2016 Total
Budget
2016 Actual
YTD
2016 YTD
Unexpended
in $
2016 YTD
Expended
%
2015 Total
Budget
2015 Actual
YTD (not
consolidated
figures)
2015 YTD
Unexpended
in $
05 Non-departmental Accounts
Municipal Taxation (55,690,829)(57,572,925)1,882,096 103.4%(53,048,526)(53,531,786)483,260
Other Revenue (1,646,289)(1,879,909)233,620 114.2%(2,139,573)(2,875,860)736,287
Contributions (5,839,274)(5,898,249)58,975 101.0%(5,573,121)(9,756,135)4,183,014
Revenues/Taxation/Contributions (63,176,392)(65,351,083)2,174,691 103.4%(60,761,220)(66,163,781)5,402,561
59 BIA Taxation
BIA Taxes (199,200)(199,200)0 100.0%(194,230)(194,230)0
BIA Payments 199,200 199,200 0 100.0%194,230 194,230 0
Net Expenditures 0 0 0 0 0 0
10 Mayor and Council
Net Expenditures 908,605 832,764 75,841 91.7%903,733 876,866 26,867
13 Administrator's Office
Revenue/Recoveries (166,200)(266,552)100,352 160.4%(85,500)(202,733)117,233
Expenditures (2016 includes CBOT
and Communications/Tourism)
2,094,155 2,498,329 (404,174)119.3%747,794 829,542 (81,748)
Net Expenditures 1,927,955 2,231,777 (303,822)115.8%662,294 626,809 35,485
14 Legal Administration
Revenue/Recoveries (69,000)(116,941)47,941 169.5%(105,000)(116,600)11,600
Expenditures 417,659 440,464 (22,805)105.5%462,087 430,935 31,152
Net Expenditures 348,659 323,523 25,136 92.8%357,087 314,335 42,752
16 Corporate Services
Revenue/Recoveries (108,500)(193,398)84,898 178.2%(100,500)(264,859)164,359
Expenditures (2015 includes
Communications/Tourism)
3,807,847 3,827,048 (19,201)100.5%4,718,536 4,887,038 (168,502)
Net Expenditures 3,699,347 3,633,650 65,697 98.2%4,618,036 4,622,179 (4,143)
The Municipality of Clarington
Summary of Operating Expenditures and Revenues for 2016 (not final figures)
Attachment 1 for FND-002-17
2016 Total
Budget
2016 Actual
YTD
2016 YTD
Unexpended
in $
2016 YTD
Expended
%
2015 Total
Budget
2015 Actual
YTD (not
consolidated
figures)
2015 YTD
Unexpended
in $
19 Clerk's
Revenue/Recoveries (708,900)(1,027,231)318,331 144.9%(629,300)(981,140)351,840
Expenditures 3,074,911 3,266,144 (191,233)106.2%2,914,872 3,288,856 (373,984)
Net Expenditures 2,366,011 2,238,913 127,098 94.6%2,285,572 2,307,716 (22,144)
21 Finance & Unclassified Adminstration
Revenue/Recoveries (1,564,000)(1,773,319)209,319 113.4%(1,564,000)(1,701,934)137,934
Unclassified Administration
(2015 includes CBOT) 2,287,726 2,473,638 (185,912)108.1%2,406,973 4,369,344 (1,962,371)
Operating Expenditures 2,407,015 2,396,621 10,394 99.6%2,324,331 2,373,200 (48,869)
Expenditures 4,694,741 4,870,259 (175,518)103.7%4,731,304 6,742,544 (2,011,240)
Net Expenditures 3,130,741 3,096,940 33,801 98.9%3,167,304 5,040,610 (1,873,306)
28 Emergency Services - Fire
Revenue/Recoveries (80,000)(279,557)199,557 349.4%(49,000)(153,151)104,151
Expenditures 11,815,340 12,020,803 (205,463)101.7%11,506,881 12,316,479 (809,598)
Net Expenditures 11,735,340 11,741,246 (5,906)100.1%11,457,881 12,163,328 (705,447)
32 Engineering Services
Revenue/Recoveries (1,381,500)(3,340,181)1,958,681 241.8%(1,359,500)(2,645,613)1,286,113
Debenture Payments 528,771 528,771 0 100.0%522,189 522,189 0
Operating Expenditures 6,536,575 7,382,217 (845,642)112.9%6,284,391 6,995,699 (711,308)
Expenditures 7,065,346 7,910,988 (845,642)112.0%6,806,580 7,517,888 (711,308)
Net Expenditures 5,683,846 4,570,807 1,113,039 80.4%5,447,080 4,872,275 574,805
The Municipality of Clarington
Summary of Operating Expenditures and Revenues for 2016 (not final figures)
Attachment 1 for FND-002-17
2016 Total
Budget
2016 Actual
YTD
2016 YTD
Unexpended
in $
2016 YTD
Expended
%
2015 Total
Budget
2015 Actual
YTD (not
consolidated
figures)
2015 YTD
Unexpended
in $
36 Operations
Revenue/Recoveries (677,300)(1,052,096)374,796 155.3%(606,100)(901,235)295,135
Operating Expenditures 15,840,827 16,770,661 (929,834)105.9%14,888,669 16,894,663 (2,005,994)
Fleet & Debenture Payments 1,090,643 927,366 163,277 85.0%1,163,820 1,158,046 5,774
Expenditures 16,931,470 17,698,027 (766,557)104.5%16,052,489 18,052,709 (2,000,220)
Net Expenditures 16,254,170 16,645,931 (391,761)102.4%15,446,389 17,151,474 (1,705,085)
42 Community Services
Revenue/Recoveries (4,694,600)(4,845,010)150,410 103.2%(4,574,215)(4,759,374)185,159
Operating Expenditures 10,900,097 11,339,407 (439,310)104.0%10,239,421 10,869,450 (630,029)
Debenture Payments 3,104,458 3,104,458 0 100.0%3,105,368 3,105,368 0
Annual Grants & Sponsorships 115,000 113,500 1,500 98.7%100,000 90,292 9,708
Expenditures 14,119,555 14,557,365 (437,810)103.1%13,444,789 14,065,110 (620,321)
Net Expenditures 9,424,955 9,712,355 (287,400)103.0%8,870,574 9,305,736 (435,162)
50 Planning Services
Revenue/Recoveries (436,000)(539,661)103,661 123.8%(405,000)(443,511)38,511
Expenditures 4,141,092 3,920,605 220,487 94.7%3,980,012 4,051,580 (71,568)
Net Expenditures 3,705,092 3,380,944 324,148 91.3%3,575,012 3,608,069 (33,057)
Boards & Agencies
Net Expenditures 3,991,671 4,131,935 (140,264)103.5%3,970,258 4,210,878 (240,620)
Total Operating
Revenue/Recoveries (73,261,592)(78,984,229)5,722,637 107.8%(70,433,565)(78,528,161)8,094,596
Expenditures 73,261,592 76,173,931 (2,912,339)104.0%70,433,565 77,464,655 (7,031,090)
Net Difference 0 (2,810,298)2,810,298 *0 (1,063,506)1,063,506
* These are not audited figures and are subject to change as the year-end process is completed. This report
cannot be used to forecast the year-end financial position.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON Attachment 2 to
Continuity of Taxes Receivable Report FND-002-17
for the Fourth Quarter of the Year 2016
Beginning Balance
Receivable
September 30, 2016
Interest
Added Taxes Billed Balance
Payments &
Adjustments
**
December
2016
December
2015
Prepaid Taxes (5,148,466) (4,809,135)
Current Year
Taxes 16,089,915 2,921,298 19,011,213 (13,757,630) 5,253,583 5,326,613
Penalty and Interest 163,240 267,610 430,850 (232,831) 198,019 222,747
First Prior Year
Taxes 1,946,094 650,533 2,596,627 (1,070,214) 1,526,413 1,644,504
Penalty and Interest 162,174 61,443 223,617 (90,852) 132,765 129,726
Second Prior Year
Taxes 532,202 334,786 866,987 (481,016) 385,971 325,428
Penalty and Interest 54,705 15,373 70,078 (33,719) 36,359 36,165
Third and Prior Years
Taxes 107,296 - 107,296 (20,143) 87,153 163,670
Penalty and Interest 30,483 3,358 33,841 (3,425) 30,416 109,055
Total 19,086,109 347,784 3,906,617 23,340,510 (15,689,831) 2,502,214 3,148,772
Note 1: Prepaid taxes include property tax preauthorized payment program (PAP).
** Includes refunds, write-offs, 357's, etc.
Attachment 3 to
Municipality of Clarington Report FND-002-17
Investments Outstanding
As at December 31, 2016
Issuer Type Rating
Purchase
Date Cost
Interest
Rate
Maturity
date Maturity
General Fund
One Fund HISA H 07-Sep-16 10,016,581.23 1.15%n/a 10,016,581.23 (B)
General fund total 10,016,581.23 10,016,581.23
Capital Fund
Capital fund total - -
Non-development charge monies (including Strategic Capital)
Manulife Bank GIC HM 19-Mar-12 1,693,000.00 2.88%19-Mar-17 1,951,224.70
BMO coupons L 15-Mar-12 159,396.18 2.86%28-Mar-17 183,615.00
RBC GIC H 01-May-13 1,000,000.00 2.10%01-May-17 1,086,683.24
BMO coupons L 15-Mar-12 196,287.25 2.92%28-Sep-17 230,141.00
BNS GIC H 30-Oct-12 1,884,365.00 2.50%30-Oct-17 2,131,986.04
HSBC GIC H 21-Dec-12 1,121,354.00 2.40%21-Dec-17 1,262,352.30
National Bank GIC M 12-Feb-13 1,927,464.00 2.45%12-Feb-18 2,175,434.89
Tangerine GIC H 25-Mar-13 1,254,427.00 2.40%26-Mar-18 1,412,449.93
HSBC GIC H 13-May-13 321,079.00 2.25%14-May-18 358,862.84
BNS GIC H 03-Jun-13 1,499,069.00 2.30%03-Jun-18 1,679,576.51
RBC GIC H 30-Jul-13 2,341,277.00 2.60%30-Jul-18 2,661,886.92
Tangerine GIC HM 10-Aug-15 672,368.00 1.60%10-Aug-18 705,160.80
BMO GIC H 30-Sep-13 1,174,214.00 2.90%01-Oct-18 1,354,748.00
Prov NB coupons H 27-Jun-13 248,068.78 2.59%03-Dec-18 285,071.00
RBC GIC H 11-Mar-14 1,084,844.00 2.50%11-Mar-19 1,227,401.41
RBC GIC H 17-Mar-14 1,000,000.00 2.50%18-Mar-19 1,131,408.21
Tangerine GIC H 02-May-14 1,000,000.00 2.60%02-May-19 1,139,019.14
BMO GIC H 17-Aug-14 830,000.00 2.41%19-Aug-19 935,015.04
Attachment 3 to
Municipality of Clarington Report FND-002-17
Investments Outstanding
As at December 31, 2016
Issuer Type Rating
Purchase
Date Cost
Interest
Rate
Maturity
date Maturity
BNS GIC H 12-Sep-14 1,037,127.00 2.46%12-Sep-19 1,171,126.20
Manulife Bank GIC HM 23-Sep-14 789,343.56 2.50%22-Sep-19 893,069.79
Tangerine GIC H 02-Dec-14 1,191,382.00 2.56%02-Dec-19 1,351,889.19
Tangerine GIC H 18-Dec-14 1,045,809.00 2.56%18-Dec-19 1,186,704.08
BNS GIC H 01-Jun-15 1,500,632.00 2.10%01-Jun-20 1,664,956.59
BMO GIC H 11-Aug-15 2,000,000.00 1.95%11-Aug-20 2,202,754.75
RBC GIC H 11-Aug-15 1,741,656.00 1.95%11-Aug-20 1,918,220.51
BNS GIC H 28-Sep-15 708,582.00 2.10%29-Sep-20 786,174.27
BMO GIC H 15-Oct-15 621,864.00 2.15%15-Oct-20 691,651.42
BNS GIC H 10-Dec-15 1,500,000.00 2.32%10-Dec-20 1,682,263.09
BMO GIC H 10-Dec-15 1,500,000.00 2.20%10-Dec-20 1,672,421.48
BNS GIC H 10-Dec-15 1,976,951.00 2.32%10-Dec-20 2,220,381.86
HSBC GIC H 18-Dec-15 1,182,689.00 2.25%18-Dec-20 1,321,865.11
HSBC GIC H 29-Mar-16 195,399.00 2.18%29-Mar-21 217,646.57
HSBC GIC H 02-May-16 1,001,980.00 2.15%03-May-21 1,114,256.16
RBC GIC H 03-Oct-16 2,000,000.00 1.70%04-Oct-21 2,175,879.10
BMO GIC H 03-Oct-16 1,281,741.00 1.70%04-Oct-21 1,394,456.73
BMO GIC H 05-Oct-16 1,812,000.00 1.70%05-Oct-21 1,971,346.46
RBC GIC H 21-Dec-16 181,765.00 1.80%21-Dec-21 198,723.46
BNS GIC HM 21-Dec-16 2,544,990.00 2.00%21-Dec-21 2,809,874.60
Prov BC Bond H 11-Dec-13 2,369,685.75 2.70%18-Dec-22 2,425,000.00 (A)
Prov Manitoba Bond H 23-Nov-15 775,928.40 2.45%02-Jun-25 780,000.00 (A)
Non-development charge total 48,366,737.92 53,762,698.39
Attachment 3 to
Municipality of Clarington Report FND-002-17
Investments Outstanding
As at December 31, 2016
Issuer Type Rating
Purchase
Date Cost
Interest
Rate
Maturity
date Maturity
Development charge funds
One Fund Bond NR 08-Aug-00 3,927,265.03 n/a 3,927,265.03 (B)
One Fund Equity NR 31-Jan-07 500,000.00 n/a 500,000.00 (B)
RBC GIC H 13-Dec-16 179,549.00 0.75%12-Jun-17 180,216.77
National Bank GIC HM 20-Dec-13 1,300,000.00 2.75%20-Dec-18 1,488,855.35
BNS GIC H 21-Dec-16 1,128,572.00 1.80%21-Dec-21 1,233,866.47
Prov Ontario Bond H 19-Dec-13 2,403,350.00 2.85%02-Jun-23 2,500,000.00 (A)
Development charge total 9,438,736.03 9,830,203.62
Total Investments 67,822,055.18$ 73,609,483.24$
Note that interest is annual compounding with the exception of the following:
(A) Bond interest is paid semi-annually (B) Pooled Investment Fund
Attachment 4 of
Muncipality of Clarington Report FND-002-17
Debenture Repayment Schedule
As of January 1, 2017
Year
South Courtice
Arena
Indoor Soccer
Lacrosse
RRC CCD
space
RRC
Improvements
(estimated)
MAC
Improvements
(estimated)
Green Road
Grade
Separation
Newcastle
Library Courtice Library
Newcastle
Aquatic Total
2017 1,069,666.77 163,532.59 105,047.39 77,900.00 102,107.00 534,406.77 103,787.14 82,665.09 1,761,701.91 4,000,814.66
2018 164,093.85 104,942.45 79,400.00 101,582.00 538,772.66 106,787.14 78,904.97 1,759,687.50 2,934,170.57
2019 165,174.58 104,831.80 78,000.00 101,107.00 541,802.38 109,787.14 78,146.32 1,757,651.34 2,936,500.56
2020 164,755.07 104,715.46 77,300.00 101,082.00 544,416.38 112,787.14 78,341.53 1,604,355.98 2,787,753.56
2021 163,863.49 104,593.15 78,200.00 101,532.00 546,623.02 115,787.14 78,465.50 1,054,141.30 2,243,205.60
2022 163,542.75 79,600.00 101,707.00 546,559.49 117,000.00 78,488.31 1,006,711.96 2,093,609.51
2023 162,800.11 80,200.00 102,257.00 546,276.36 119,000.00 78,425.64 1,088,959.11
2024 160,675.42 79,200.00 103,091.00 553,240.30 78,249.84 974,456.56
2025+565,450.00 715,770.00 2,693,604.53 546,030.80 4,520,855.33
1,069,666.77 1,308,437.86 524,130.25 1,195,250.00 1,530,235.00 7,045,701.89 784,935.70 1,177,718.00 8,944,249.99 23,580,325.46
Principal
at January
1, 2017 1,057,000.00 1,167,000.00 425,533.62 1,010,000.00 1,296,809.00 5,695,600.00 602,000.00 990,000.00 8,040,000.00 20,283,942.62
Principal
at January
1, 2018 - 1,033,000.00 339,154.57 932,100.00 1,194,702.00 5,332,600.00 529,000.00 931,000.00 6,595,000.00 16,886,556.57
Interest
Rates 2.00% to 2.25% 1.35% to 3.35% 5.12%estimated estimated 1.35% to 3.8% 4.9% to 5.2% 1.15% to 2.8% 4.5% to 4.75%
NOTE:
2018 Newcastle Library requires renewal of debenture for a further 5 year period unless funding is available from other sources. Partial funding at those times
would reduce debenture burden for following 5 year period. An estimate is provided based on a further 5 years.
Municipality of Clarington
RESIDENTIAL
Single/Semi- Detached
-New construction
-Additions
Townhouse
Apartment
TOTAL:
Attachment 5 to
Report FND-002-17
Municipal Development Charges
January to December YTD
Change in DC paid from prior year:
Change in DC units from prior year:
NON-RESIDENTIAL
Commercial
-New construction
-Additions
Industrial
-New construction
-Additions
Agricultural
Government
Institutional
TOTAL:
-4.15%
6.18%
2016
2015
2015
Development
Municipal Development
Number
Municipal Development
Number
Charges Paid
Charges Paid
of Units
$
Charges Paid
of Units
$
7,240,639.00
459
$
8,530,500.03
558
$
15,985.00
1
$
172.10
1
$
2,273,872.00
184
$
1,218,906.00
99
$
1,336,508.27
301
$
1,587,344.00
232
$
10,867,004.27
945
$
11,336,922.13
890
421,158.44
Change in DC paid from prior year:
Change in DC units from prior year:
NON-RESIDENTIAL
Commercial
-New construction
-Additions
Industrial
-New construction
-Additions
Agricultural
Government
Institutional
TOTAL:
-4.15%
6.18%
Change in DC paid from prior year: -35.27%
2016
2015
Municipal
Development
Municipal Development
Charges Paid
Charges Paid
$
254,511.76
$
46,214.61
$
13,422.89
$
4,941.17
$
4,665.20
$
365,715.86
$
-
$
4,286.80
$
272,599.85
$
421,158.44
Change in DC paid from prior year: -35.27%
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