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Staff Report
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Report To: General Government Committee
Date of Meeting: March 9, 2020 Report Number: FND-004-20
Submitted By: Trevor Pinn, Director of Finance/Treasurer
Reviewed By: Andrew C. Allison, CAO By-law Number:
File Number: Resolution#: GG-172-20
Report Subject: Annual Leasing Report - 2019
Recommendation:
1. That Report FND-004-20 be received for information.
Municipality of Clarington
Report FND-004-20
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.
• Confirmation of compliance with the lease policy;
• Summary of material leases;
• Estimated cost of material leases;
• 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 The Municipality of Clarington did not have any material leases in 2019.
3. Concurrence
Not Applicable.
4. Conclusion
It is respectfully recommended that this report on annual leasing for 2019 be received
for information in compliance with Ontario Regulation 653/05.
Staff Contact: Laura Pinto, Financial Analyst, 905-623-3379 ext 2614 or (pinto@clarington.net.
Interested Parties:
There are no interested parties to be notified of Council's decision.