HomeMy WebLinkAboutFND-008-14 Clarftwn REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date: April 14, 2014 Resolution#: j By-law#:
Report#: FND-008-14 File#:
Subject: ANNUAL LEASING REPORT - 2013
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-008-14 be received for information.
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Submitted by: / / Reviewed by:
Nancy Taylor, BV�A,C ' A,CA Franklin Wu,
Director of Finance/Treasurer Chief Administrative Officer
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CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T 905-623-3379
REPORT NO.: FND-008-14 PAGE 2
1.0 COMMENTS
1 .1 Under Ontario Regulation 653/05, 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 to use financial leases. For 2012 and to date, there are
no lease agreements. There is no impact on long-term financing or debt services
levels of the Municipality.
2.0 CONCURRENCE - Not applicable
3.0 CONCLUSION
3.1 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.
CONFORMITY WITH STRATEGIC PLAN
The recommendations contained in this report conform to the general intent of the
following priorities of the Strategic Plan:
Promoting economic development
X Maintaining financial stability
Connecting Clarington
Promoting green initiatives
Investing in infrastructure
Showcasing our community
Not in conformity with Strategic Plan
Staff Contact: Nancy Taylor, B.B.A., C.A., Director of Finance/Treasurer