HomeMy WebLinkAboutFND-006-19Clarington
Finance Department
Report
If this information is required in an alternate accessible format, please contact the Accessibility
Coordinator at 905-623-3379 ext. 2131.
Report To: General Government Committee
Date of Meeting: March 4, 2019
Report Number: FND-006-19 Resolution: #GG -150-19
File Number: By-law Number:
Report Subject: Annual Leasing Report - 2018
Recommendations:
That Report FND-006-19 be received for information.
Municipality of Clarington
Report FND-NNN-19
Page 2
Report Overview
This report complies with the Municipal Act, 2001 annual reporting requirements on leasing,
under Regulation 653/05.
1. Background
1.1 Under Ontario Regulation 635/05, the Treasurer is required to report annually to Council
the details of existing material leases including the following.
x Confirmation of compliance with the lease policy;
x Summary of material leases;
x Estimated cost of material leases;
x Impact of the leases on the financing arrangements and the debt servicing levels.
1.2 As required by the Municipal Act, 2001, Council adapted a Statement of Lease
Financing Policies and Goals in report FND-021-03, on September 8, 2003. To date
Clarington has typically chosen to purchase or debenture (if necessary), rather than use
financial lease agreements. There is no impact on long-term financing or debt service
levels of the Municipality.
2. Lease Summary
2.1 At this time, the Municipality of Clarington does not have any material leases.
3. Concurrence
Not Applicable
4. Conclusion
It is respectfully recommended that this report on annual leasing for 2018 be received for
information in compliance with Ontario Regulation 653/05.
Submitted by: /_1_"_
Trevor Pinn, B.Com, CPA, CA,
Director of Finance/Treasurer
Reviewed by:
Andrew C. Allison, B. Comm, LL.B
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.