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Report To: General Government Committee
Date of Meeting: May 8, 2017
Report Number: FND-009-17 Resolution: GG-248-17
File Number: By-law Number:
Report Subject: Financial Update as at March 31, 2017
Recommendations:
1.That Report FND-009-17 be received for information.
Municipality of Clarington
Report FND-009-17 Page 2
Report Overview
The purpose of this report is to update Council on the overall budget variances as of March
31, 2017 as well as other financial indicators such as taxes receivable, reserve fund
investments, debt and development charges collected.
1. Background
The financial update report has been designed to focus on overall budget variance.
2. First Quarter of 2017 Results
2.1 Attachment 1, Summary of Operating Expenditures and Revenues, compares the
Municipality’s budget to actual posted expenditures as of March 31, 2017. This
statement reflects the Muncipality’s operating budget only and excludes the year to date
financial activites for the library, museum, BIAs and consolidated hall boards. Year to
date expenditures as of March 31, 2017 totalled $20,059,442 which represents 99.9% of
the first quarter budget. Year to date revenues totalled $31,905,726 which represents
103.0% of the first quarter 2017 budget.
2.2 Attachment 1 is intended to provide an indication of the status of the Municipality’s
operating account compared to the approved budget as at March 31, 2017. Many
departments are affected by high levels of activities during specific times of the year.
For example, some activities are seasonal in nature, such as ice rentals and winter
control. To best capture the trends in the activities, the budget is allocated monthly
based on the prior year’s actual monthly distribution. In cases where there is no prior
year history easily obtainable, the monthly allocation is divided equally over the 12
months. However, there are still variations from year to year. For example, the timing
of revenues in Legal and Planning often fluctuate from year to year. Due to these timing
differences and with only three (3) months of activity, this statement cannot be used in
isolation, nor can it be easily extrapolated to the whole year.
2.3 As of March 31, 2017, the operating budget is well within the first quarter budgeted
allocation. Monthly trial balances are sent to each department for regular review.
Revenues and expenditures that have a variance either above or below budget that are
noteworthy are discussed in this report.
2.4 The Administrator’s Office undertook some changes in 2016. The Clarington Board of
Trade was transferred from Unclassified Administration, as well as Communications and
Tourism transferred from Corporate Services. For a fair comparison, the 2016 activities
Municipality of Clarington
Report FND-009-17 Page 3
for these areas is shown under the Administrator’s office section of the report. The
expenditures for these areas is broken out in Attachment 1 for clarity. Communications
and Tourism revenues and expenditures have been allocated equally over the 12
months. The Administrator’s office is on budget for the first quarter of 2017. The
operating differences is due to Port Granby expenses. There is often a timing difference
with the Port Granby recoveries when compared to the expenditures which is sorted out
over the year.
2.5 The net expenditures of the Legal Department are at 81.7%. This is due to the increase
revenues for plan agreement fees. As noted in 2.2, the timing of some activities do vary
from year to year and the monthly budget allocation may not reflect this year’s timing.
However, there has been an increase in development applications in the first quarter.
2.6 The Finance and Unclassified Administration net expenditures are at 117.2%. This can
be attributed to the timing of tax write offs to date in 2017 when compared to 2016.
Again, future quarterly reports will reflect a more complete picture as the year
progresses.
2.7 Emergency Services net expenditures 92.6% of the first quarter budget. The increase
in revenues are from charges to Ontario Power Generation as per the Memorandum of
Understanding.
2.8 Operations net expenditures are 106.6% of the first quarter budget. Operation revenues
are overall higher than the first quarter budget which could be attributed to in part to
timing differences from one (1) year to the next. Street lighting cost recoveries have
exceeded the total 2017 budgeted amount at the end of the first quarter. Operating
expenditures (excluding fleet and debenture costs) are at 123.3%. This is largely
attributed to the purchases of salt, sand and brine in the first quarter. This timing does
vary year to year. As well, the longer than normal winter season was a factor.
2.9 Community Services net expenditures are at 87.0% of the first quarter budget. This
result is due to a combination of higher than budgeted revenues and lower than
budgeted expenditures. Timing could be a factor and there should be a clearer picture
as the year progresses. Overall, higher than budget revenues in aquatics, fitness,
recreation and 55+ program revenues. Lower expenditures are due in part to the timing
of some hydro invoices. The next quarterly update will provide a more complete picture.
2.10 Planning Services net expenditures are at 46.2% of the first quarter budget. This
favourable result can be attributed to higher than budgeted revenues. Revenues are at
431% of the first quarter budget or at 74.6% of the total 2017 budget. As discussed in
section 2.2, some is due to timing variances from year to year. However, it has been an
exceptional first quarter for planning revenues, reflecting the volume and complexity of
applications received.
Municipality of Clarington
Report FND-009-17 Page 4
2.11 Attachment 2, Continuity of Taxes Receivable as of March 31, 2017 provides the status
of the taxes billed and collected by the Municipality during the first quarter of 2017. A
total of $40,248,238 in interim tax bills were issued to Clarington property owners in this
period. Note that the current year taxes receivable are in a credit position as it also
includes the taxes prepaid for the April 2017 installment. This includes pre-authorized
monthly payments collected in advance and well as mortgage companies paying both
the February and April installments in February. The net balance of (3,623,164) is
38.5% lower than the same period in 2016. This is due large part to the increasing
participation in the PAP program, both residential and non-residential.
2.12 Attachment 3, Investments Outstanding as of March 31, 2017 provides the status of the
Municipality’s general, capital and reserve fund investment holdings as the end of the
first quarter in 2017. The Municipality as of March 31, 2017 holds $10,054,089.15 in
general fund investments, $0 in capital fund investments, $9,461,903.35 in
Development Charge reserve fund investments and $49,697,992.74 in reserve fund
investments. 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 has 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 includes 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.
2.14 Attachment 5, Municipal Development Charges as of March 31, 2017 provides the
Municipal Development Charges collected separated into residential and non-
residential. As of March 31, 2017 Residential Municipal Development Charges
collected are $2,329,599. In the 2015 Development Charges Background Study, it is
forecasted that the Municipality would be collecting approximately 768 residential units
in total for 2017 or about 192 units per quarter. For 2017 budget considerations, the
figure of 650 units (about 162 per quarter) was used for the year. At the end of March
2017, there were 145 units. Compared to the same period the previous year there was
a 16.7% increase in development charges collected and a 44% decrease in the number
of units. The increase in funds collected versus the decrease in number of units is
Municipality of Clarington
Report FND-009-17 Page 5
attributed to the high number of townhouse and apartments in 2016 which have a lower
development charge than a single or semi-detached residence.
2.15 As of March 31, 2017, non-residential development charges collected are $251,551.17.
Compared to the same period last year there was a 368.8% increase in the
development charges collected. Non-residential development charges are based on the
area in square meters rather than a per unit cost so it can be expected to have
significant variance 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 March 31, 2017 a total of $592,711.83 in
incentives have been given to nine (9) properties. To date, there has been one (1)
residential development incentive given to a mid-rise residential development of
$413,822.26. The remaining $178,889.57 has been given to non-residential incentives.
In the first quarter of 2017 there was one (1) incentive given to a new industrial
development in Bowmanville.
3. Concurrence
Not Applicable
4. Conclusion
It is respectfully recommended that the first quarter of 2017 financial update report be
received for information.
5. Strategic Plan Application
The recommendations contained in this report conform to the Strategic Plan.
Submitted by: Reviewed by:
Nancy Taylor, BBA, CPA, CA, Curry Clifford, MPA, CMO
Director of Finance/Treasurer Interim CAO
Staff Contact: Catherine Carr, Manager of Internal Audit, 905-623-3379 ext 2606 or
ccarr@clarington.net
Municipality of Clarington
Report FND-009-17 Page 6
There are no interested parties to be notified of Council's decision.
Attachment 1 – Summary of Operating Revenues and Expenditures
Attachment 2 - Continuity of Taxes Receivable
Attachment 3 – Investments Outstanding
Attachment 4 – Debenture Repayment Schedule
Attachment 5 – Municipal Development Charges
NT/CC/hjl
The Municipality of Clarington Attachment 1
Summary of Operating Expenditures and Revenues for the Three Months Ending March 31, 2017 to Report FND-009-17
2017 Qtr 1
Budget YTD
2017 Qtr 1
Actual YTD
2017 Qtr 1
Unexpend
ed ($)
2017 Qtr 1
%
Expended
2016 Qtr 1
Budgeted
YTD
2016 Qtr 1
Actual YTD
2016 Qtr 1
Unexpenden
d ($)
2017 Total
Budget
2017 % of
budget
spent
05 Non-departmental Accounts
Municipal Taxation (27,816,631)(27,884,000)67,369 100.2%(26,151,536)(25,233,716)(917,820)(59,340,165)47.0%
Other Revenue (81,898)(116,439)34,541 142.2%(76,930)(118,576)41,646 (1,659,469)7.0%
Contributions 0 (128,296)128,296 0 (593,594)593,594 (6,120,518)2.1%
Revenue/Taxation/Contributions (27,898,529)(28,128,735)230,206 100.8%(26,228,466)(25,945,886)(282,580)(67,120,152)41.9%
59 BIA Taxation
BIA Taxes 0 0 0 0 0 0 (203,300)0.0%
BIA Payments 199,200 199,200 0 100.0%199,200 199,200 0 203,300 98.0%
Net Expenditures 199,200 199,200 0 100.0%199,200 199,200 0 0
10 Mayor and Council
Net Expenditures 203,014 194,646 8,368 95.9%201,301 205,306 (4,005)879,297 22.1%
13 Administrator's Office
Revenue/Recoveries (includes
Port Granby and Advertising)
(43,889)(54,590)10,701 124.4%(20,180)(117,632)97,452 (165,500)33.0%
Board of Trade 330,000 330,000 0 100.0%225,000 225,000 0 330,000 100.0%
Operating Expenditures (includes
Port Granby)
118,808 187,489 (68,681)157.8%172,563 175,062 (2,499)633,010 29.6%
Communications & Tourism 272,749 245,423 27,326 90.0%260,800 261,207 (407)1,141,602 21.5%
Expenditures 721,557 762,912 (41,355)105.7%658,363 661,269 (2,906)2,104,612 36.2%
Net Expenditures 677,668 708,322 (30,654)104.5%638,183 543,637 94,546 1,939,112 36.5%
14 Legal Administration
Revenue/Recoveries (6,708)(26,818)20,110 399.8%(19,635)(10,054)(9,581)(69,000)38.9%
Expenditures 99,544 102,668 (3,124)103.1%137,217 107,242 29,975 417,242 24.6%
Net Expenditures 92,836 75,850 16,986 81.7%117,582 97,188 20,394 348,242 21.8%
16 Corporate Services
Revenue/Recoveries (19)0 (19)0.0%0 (1,229)1,229 (3,000)0.0%
Expenditures 897,143 920,311 (23,168)102.6%853,429 814,695 38,734 4,264,170 21.6%
Net Expenditures 897,124 920,311 (23,187)102.6%853,429 813,466 39,963 4,261,170 21.6%
19 Clerk's
Revenue/Recoveries (119,608)(148,926)29,318 124.5%(142,828)(165,349)22,521 (685,900)21.7%
Expenditures 681,471 653,084 28,387 95.8%653,911 695,936 (42,025)3,183,373 20.5%
Net Expenditures 561,863 504,158 57,705 89.7%511,083 530,587 (19,504)2,497,473 20.2%
21 Finance & Unclassified Administration
Revenue/Recoveries (331,231)(336,290)5,059 101.5%(326,598)(339,594)12,996 (1,552,000)21.7%
Unclassified Administration 57,719 142,624 (84,905)247.1%77,867 68,970 8,897 3,146,536 4.5%
Operating Expenditures 588,975 563,465 25,510 95.7%562,193 560,058 2,135 2,513,141 22.4%
Expenditures 646,694 706,089 (59,395)109.2%640,060 629,028 11,032 5,659,677 12.5%
Net Expenditures 315,463 369,799 (54,336)117.2%313,462 289,434 24,028 4,107,677 9.0%
The Municipality of Clarington Attachment 1
Summary of Operating Expenditures and Revenues for the Three Months Ending March 31, 2017 to Report FND-009-17
2017 Qtr 1
Budget YTD
2017 Qtr 1
Actual YTD
2017 Qtr 1
Unexpend
ed ($)
2017 Qtr 1
%
Expended
2016 Qtr 1
Budgeted
YTD
2016 Qtr 1
Actual YTD
2016 Qtr 1
Unexpenden
d ($)
2017 Total
Budget
2017 % of
budget
spent
28 Emergency Services - Fire
Revenue/Recoveries (4,630)(151,022)146,392 3,261.8%(13,974)(48,501)34,527 (85,000)177.7%
Expenditures 2,687,470 2,634,652 52,818 98.0%2,649,606 2,591,276 58,330 12,112,470 21.8%
Net Expenditures 2,682,840 2,483,630 199,210 92.6%2,635,632 2,542,775 92,857 12,027,470 20.6%
32 Engineering Services
Revenue/Recoveries (563,836)(513,312)(50,524)91.0%(210,535)(1,037,626)827,091 (1,550,700)33.1%
Debenture Payment 450,792 451,137 (345)100.1%442,539 442,539 534,407 84.4%
Operating Expenditures 900,070 917,244 (17,174)101.9%837,832 795,016 42,816 6,919,358 13.3%
Expenditures 1,350,862 1,368,381 (17,519)101.3%1,280,371 1,237,555 42,816 7,453,765 18.4%
Net Expenditures 336,234 403,932 (67,698)120.1%627,297 (242,610)869,907 5,368,658 7.5%
36 Operations
REVENUE
Revenue/Recoveries (52,482)(75,615)23,133 144.1%(46,370)(66,925)20,555 (684,800)11.0%
Operating Expenditures 2,868,935 3,536,665 (667,730)123.3%3,578,825 2,804,304 774,521 16,486,059 21.5%
Fleet & Debenture Payments 517,490 92,840 424,650 17.9%440,798 147,039 293,759 1,205,586 7.7%
Expenditures 3,386,425 3,629,505 (243,080)107.2%4,019,623 2,951,343 1,068,280 17,691,645 20.5%
Net Expenditures 3,333,943 3,553,890 (219,947)106.6%3,973,253 2,884,418 1,088,835 17,006,845 20.9%
42 Community Services
Revenue/Recoveries (1,841,625)(2,025,111)183,486 110.0%(1,773,165)(1,861,020)87,855 (4,875,365)41.5%
Operating Expenditures 2,386,668 2,159,386 227,282 90.5%2,361,920 2,264,164 97,756 11,421,127 18.9%
Debenture Payments 3,030,595 2,966,414 64,181 97.9%2,933,102 2,933,102 0 3,177,849 93.3%
Annual Grant & Sponsorships - 9,500 (9,500)10,000 10,000 0 95,000 10.0%
Expenditures 5,417,263 5,135,300 281,963 94.8%5,305,022 5,207,266 97,756 14,693,976 34.9%
Net Expenditures 3,575,638 3,110,189 465,449 87.0%3,531,857 3,346,246 185,611 9,818,611 31.7%
50 Planning Services
Revenue/Recoveries (103,232)(445,307)342,075 431.4%(103,895)(80,552)(23,343)(596,675)74.6%
Expenditures 815,987 774,549 41,438 94.9%766,807 738,177 28,630 4,843,688 16.0%
Net Expenditures 712,755 329,242 383,513 46.2%662,912 657,625 5,287 4,247,013 7.8%
Boards & Agencies 2,978,238 2,978,145 93 100.0%1,835,814 1,834,502 1,312 4,084,177 72.9%
Total Operating:
Revenue/Recoveries (30,965,789)(31,905,726)939,937 103.0%(28,885,646)(29,674,368)788,722 (77,591,392)41.1%
Expenditures 20,084,868 20,059,442 25,426 99.9%19,200,724 17,872,795 1,327,929 77,591,392 25.9%
Net Difference (10,880,921)(11,846,284)965,363 108.9%(9,684,922)(11,801,573)2,116,651 0
CORPORATION OF THE MUNICIPALITY OF CLARINGTON Attachment 2 to
Continuity of Taxes Receivable Report FND-009-17
for the First Quarter of the Year 2017
Beginning Balance
Receivable
December 31, 2016
Interest
Added Taxes Billed Balance Payments &
Adjustments **March 2017 March 2016
Current Year
Taxes 5,253,622 40,248,238 45,501,860 (54,485,319) (8,983,459) (8,170,762)
Penalty and Interest 198,019 102,725 300,744 (281,055) 19,690 23,390
First Prior Year
Taxes 1,525,407 - 1,525,407 2,002,340 3,527,747 3,644,543
Penalty and Interest 132,765 121,421 254,186 (56,653) 197,533 215,739
Second Prior Year
Taxes 386,939 - 386,939 748,333 1,135,271 1,122,909
Penalty and Interest 36,359 32,850 69,208 50,150 119,358 101,590
Third and Prior Years
Taxes 87,153 - 87,153 233,270 320,423 304,231
Penalty and Interest 30,416 9,126 39,542 731 40,273 141,650
Sub-total 7,650,679 266,122 40,248,238 48,165,039 (51,788,204) (3,623,164) (2,616,710)
PREPAID TAXES (5,151,287)
TOTAL 2,499,393 266,122 40,248,238 48,165,039 (51,788,204) (3,623,164) (2,616,710)
** Includes refunds, write-offs, 357's, etc.
NOTE 1: 2017 Interim Instalment months: February and April.
Municipality of Clarington
Attachment 3 to
Report FND-009-17
Investments Outstanding
As at March 31, 2017
Issuer Type Rating
Purchase
Date Cost
Interest
Rate Maturity date Maturity
General Fund
One Fund HISA NR 17-Sep-16 10,054,089.15 n/a 10,054,089.15 (B)
General fund total 10,054,089.15 10,054,089.15
Capital Fund
Capital fund total - -
Non-development charge monies (including Strategic Capital)
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 (b/b BNS)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
Municipality of Clarington
Attachment 3 to
Report FND-009-17
Investments Outstanding
As at March 31, 2017
Issuer Type Rating
Purchase
Date Cost
Interest
Rate Maturity date Maturity
BMO GIC H 17-Aug-14 830,000.00 2.41%19-Aug-19 935,015.04
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
RBC GIC H 30-Mar-17 2,000,000.00 1.80%30-Mar-22 2,186,597.69
RBC GIC H 31-Mar-17 1,183,651.00 1.80%31-Mar-22 1,294,084.27
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 49,697,992.74 55,108,540.66
Municipality of Clarington
Attachment 3 to
Report FND-009-17
Investments Outstanding
As at March 31, 2017
Issuer Type Rating
Purchase
Date Cost
Interest
Rate Maturity date Maturity
Development charge funds `
One Fund Bond NR 08-Aug-00 3,950,432.35 n/a 3,950,432.35 (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 9,461,903.35 9,853,370.94
Total Investments 69,213,985.24 75,016,000.75
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-009-17
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 Attachment 5 to
Report FND-009-17
RESIDENTIAL
Municipal Development
Charges Paid
Number
of Units
Municipal Development
Charges Paid
Number of
Units
Single/Semi- Detached
-New construction 2,265,834.00$ 138 638,834.00$ 40
-Additions -$ - 15,985.00$ 1
Townhouse 63,765.00$ 7 679,690.00$ 55
Apartment -$ - 660,982.27$ 163
TOTAL:2,329,599.00$ 145 1,995,491.27$ 259
Change in DC paid from prior year:16.7%
Change in DC units from prior year:-44.0%
NON-RESIDENTIAL
Municipal Development Charges
Paid Municipal Development Charges Paid
Commercial 243,452.39$ 48,993.31$
Industrial -$ -$
Agricultural -$ -$
Government 8,104.78$ 4,665.20$
Institutional -$ -$
TOTAL:251,557.17$ 53,658.51$
Change in DC paid from prior year:368.8%
MUNICIPAL DEVELOPMENT CHARGES
January to March YTD
2017 2016
2017 2016
Municipality of Clarington Attachment 5 to
Report FND-009-17
Municipal Development Charges Incentives
As of March 31, 2017
Under By-law 2015-035
Date Property Value Incentive
Residential
Jan-16 105 Queen Street, Bowmanville 413,822.26 Mid-Rise Residential
Residential Incentives to Date 413,822.26$
Non-Residential
Jul-15 222 King Street East, Bowmanville 110,671.30 Medical Exemption
Oct-15 21 King Avenue East, Newcastle 3,636.08 Revitalization Small Business
Feb-16 222 Baseline Road East, Bowmanville 13,279.78 Existing Industrial Development
Feb-16 28 King Avenue East, Newcastle 937.96 Revitalization Small Business
Apr-16 70 Mearns Court, Bowmanville 1,470.67 Existing Industrial Development
Oct-16 2323 Highway 2, Bowmanville 15,985.00 Conversion Residential to Commercial
Oct-16 70 Mearns Court, Bowmanville 8,232.17 Existing Industrial Development
Feb-17 48 Britton Court, Bowmanville 24,676.61 New Industrial Development
Non-Residential Incentives to Date 178,889.57$
Total Value of Incentives to Date 592,711.83$