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Report
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Report To: General Government Committee
Date of Meeting: April 18, 2017
Report Number: FND-007-17 Resolution: GG-225-17
File Number: By-law Number:
Report Subject: Annual Leasing Report for 2016
Recommendations:
1.That Report FND-007-17 be received for information.
Municipality of Clarington
Report FND-007-17 Page 2
Report Overview
This report complies with the Municipal Act annual reporting requirements on leasing, under
Ontario Regulation 653/05.
1. Background
1.1 Under Ontario Regulation 635/05, the Treasurer is required to report annually to Council
details of existing material leases confirming that they comply with the lease policy, a
summary of material leases, estimated cost of the material leases and the impact of these
leases on the financing arrangements and debt servicing levels of the Municipality.
1.2 As required by the Municipal Act, 2001, Council adopted a Statement of Lease Financing
Policies and Goals in report FND-021-03, on Monday, September 8, 2003. To date
Clarington has typically chosen to purchase or debenture (if necessary), rather than use
financial leases. For 2016 and to date, there are no material lease agreements. There is
no impact on long-term financing or debt services levels of the Municipality.cc
2. Concurrence
Not Applicable
3. Conclusion
At this time, the Municipality of Clarington does not have any material leases. It is
recommended that this annual lease report be received for information in compliance with
Ontario Regulation 653/05.
4. Strategic Plan Application
The recommendations contained in this report conform to the Strategic Plan.
Submitted by: Reviewed by:
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.cc