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Report To: Joint Committees
Date of Meeting: February 27, 2023 Report Number: FSD-005-23
Submitted By: Trevor Pinn, Deputy CAO/Treasurer
Reviewed By: Mary-Anne Dempster, CAO
File Number:
By-law Number: JC-029-23
Resolution#:
Report Subject: 2022 Annual Leasing Report
Recommendation:
1.That Report FSD-005-23 be received for information.
Municipality of Clarington Page 2
Report FSD-005-23
Report Overview
This report complies with the Municipal Act, 2001 annual reporting requirements on leasing
under Regulation 653/05. The Municipality did not have any material leases in 202 2.
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:
a. Confirmation of compliance with the lease policy;
b. Summary of material leases;
c. Estimated costs of material leases;
d. Impact of the leases on the financing arrangements and the debt servicing levels.
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 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 servicing
levels of the Municipality.
2. Lease Summary
2.1 The Municipality of Clarington did not have any material leases in 202 2.
3. Financial Considerations
Not Applicable
4. Concurrence
Not Applicable.
5. Conclusion
It is respectfully recommended that this report on annual leasing for 2022 be received
for information in compliance with Ontario Regulation 653/05.
Municipality of Clarington Page 3
Report FSD-005-23
Staff Contact: Michelle Pick, CPA, Accounting Services Manager/Deputy Treasurer, 905-623-
3379 ext.2605 or mpick@clarington.net.
Attachments:
Not Applicable
Interested Parties:
There are no interested parties to be notified of Council's decision.