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Home My WebLink AboutFND-010-14 a9dagim REPORT FINANCE DEPARTMENT Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE Date: May 5, 2014 Resolution#: By-law#: Report#: FND-010-14 File#: Subject: ANNUAL STATEMENT FOR THE DEVELOPMENT CHARGES RESERVE FUND FOR THE YEAR ENDED DECEMBER 31, 2013 RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Report FND-010-14 be received; and 2. THAT a copy of this report be sent to the Ministry of Municipal Affairs and Housing. Submitted by: Reviewed by: IAIItl�� Nanc Taylo BBA,CPA,CA, ranMin Wu, Director of Finance/Treasurer Chief Administrative Officer NT/RB/AB/hjl CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T 905-623-3379 REPORT NO.: FND-010-14 PAGE 2 BACKGROUND 1 .0 In accordance with Bill 98, an Act to promote job creation and increased municipal accountability while providing for the recovery of development costs related to new growth, Schedule "A" attached shows the activity in the Development Charges Reserve Funds for the year ended December 31, 2013. 2.0 For the year ended December 31, 2013, a total of 439 residential building permits were issued. Approximately 854 units were anticipated for 2013 in the development charges study review and update. Also, a total of 40 capital fund and 15 revenue fund projects have been financed by the Development Charges Reserve funds. CONCURRENCE — not applicable CONFORMITY WITH STRATEG[r� 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, Director of Finance/Treasurer Attachments: Schedule "A" — Development Charges Reserve Funds statement Schedule "B" — Capital Expenses Schedule "C" — Revenue Fund Expenses Schedule "D" — Committed Amounts from Prior Years' Budgets/Council Approvals List of interested parties to be advised of Council's decision: Municipal Finance Branch Ministry of Municipal Affairs and Housing 777 Bay Street, 13th floor Toronto, Ontario M5G 2E5 MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUNDS STATEMENT FOR THE 2013 YEAR SCHEDULE See Schedule B See Schedule C See Schedule D 2014 Budget (includes 2014 debenture payments) Note: brackets = funds available, no brackets =shortfall Total Development Charges collected on behalf of the Region in 2013 $ 3,924,557.07 Less: amounts paid to the Region 3,147,769.87 Total Development Charges due to the Region at December 31, 2013 $ 776,787.20 580 581 582 583 584 585 586 587 GENERAL LIBRARY FIRE PROTECTION INDOOR PARK DEV.& OPERATIONS ROADSAND PARKING TOTAL GOVERNMENT SERVICES SERVICES RECREATION RELATED FACILITIES RELATED Balance as of December 31, 2012 (885,334) (194,985) (3,018,623) (1,417,347) (2,052,478) (11,959,025) (205,698) (19,733,490) PLUS: Development Charge Proceeds (121,777) (351,033) (290,726) (2,193,189) (464,014) (288,664) (2,604,153) (25,589) (6,339,144) Accrued Interest Apportionment (7,589) (2,725) (25,118) (2,133) (13,241) (17,087) (105,719) (1,547) (175,459) Transfer from Reserve Fund - - - (1,096,407) - - - - (1,096,407) ransferfrom Revenue Fund - - - - - - - - - ransferfrom Capital Fund - (17,883) (17,883) SUBTOTAL (129,366) (353,758) (315,843) (3,291,729) (477,255) (305,751) (2,727,755) (27,436) (7,628,592) LESS: Amount Transferred to Capital Fund * - - 1,162,620 - 308,357 459,757 2,914,739 - 4,845,473 Amount Transferred to Revenue Fu nd`* 152,688 395,155 - 3,291,729 127,823 18,475 170,319 966 4,157,154 Repayment of Interim Financing from Reserve Funds - - - - - SUBTOTAL 152,688 395,155 1,162,620 3,291,729 436,180 478,233 3,085,057 966 9,002,627 Closing Balance as of December 31, 2013 (862,012) (153,585) (2,171,846) (1,458,422) (1,879,996) (11,601,723) (232,168) (18,359,755) Committed Amounts from Prior Years * "* 647,743 231,429 516,305 815,779 586,853 3,412,742 2,990 6,213,541 Available at December 31, 2013 (214,269)1 77,841 (1,655,541) (642,643) (1,293,143) (S,18S,9S1) (229,178) (12,145,913 Committed Amounts from 2014 Budget' "'* 180,000 134,946 - 2,849,590 533,750 64,800 3,393,158 - 7,156,244 Balance remaining of Interim Financing from Reserve Funds 2,858,122 - - - 2,858,122 Balance Available for Future Needs (34,269) 212,787 (1,655,541) 5,707,712 (108,893) (1,228,343) (4,795,823) (229,175) (2,131,548) See Schedule B See Schedule C See Schedule D 2014 Budget (includes 2014 debenture payments) Note: brackets = funds available, no brackets =shortfall Total Development Charges collected on behalf of the Region in 2013 $ 3,924,557.07 Less: amounts paid to the Region 3,147,769.87 Total Development Charges due to the Region at December 31, 2013 $ 776,787.20 SCHEDULES MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2013 YEAR Total Expenses D/C R/F NON D/C R/F CAPITAL EXPENSES For 2013 FINANCING FINANCING DESCRIPTION D/C-EMERGENCY SERVICES Bowmanville Flrehall Expansion 5,684 5,684 Newcastle Firehall Replacement 4,151,082 1,122,102 992,721 Provincial Grant 750,000 Developer Contribution 1,286,259 Mun Cap Wrks R/F EMS Vehicles 74,152 34,834 39,318 Fire Equip R/F 4,230,918 1,162,620 3,068,298 D/C-PARK DEVELOPMENT&RELATED FACILITIES Longworth Park 148,411 133,570 14,841 Erg Prks Cap R/F Port Darlington Waterfront Park 1,524 1,371 152 Eng Prks Cap R/F Tooley's MITI Park 105,470 94,923 10,547 Eng Prks Cap R/F Hancock Neighbour Park 87,214 78,493 8,721 Eng Prks Cap R/F 342,619 308,357 34,262 D/C-OPERATIONS New Equipment.2012 Roads 292,047 262,842 29,205 Von Cap Wrks R/F New Equipment-2013 Roads 164,428 83,566 9,285 Mun Cap Wrks R/F 71,577 Operations Equip R/F Law Enforcement Vehicle 29,702 26,732 2,970 Mun Cap Wrks R/F Community Services Vehicle 26,495 23,845 2,649 Mun Cap Wrks R/F Operat Ions-Depot 42 consulting-construction of pole barn/quonset but 69,748 62,773 6,975 Mun Cap Works R/F 582,419 459,757 1 122,662 D/C-ROADS AND RELATED Road reconstruction-Nelson Road 226,456 160,784 65,672 Mun Cap Wrks R/F Road reconstructlon-Baseline Road(Darlington Creek to West Side Dr) 101,182 95,111 6,071 Mun Cap Wrks R/F Road reconstruction-Stevens Road 188,048 188,048 - Roadreconstruction-High Street 70,587 4,200 46,121 Tax Levy 20,266 Mun Cap Wrks R/F Road reconstruction-Trulls Road(George Reynolds Drive to Dalseyfield Ave) 717,925 407,017 283,497 Mun Cap Wrks R/F 27,411 Developer Contribution Road reconstruction-Third Street 10,680 1,816 8,864 Mun Cap Wrks R/F Road reconstruction-Ciarington Blvd Road Overslilng 1,832 1,832 - Roadreconstruction-Rudell Road 294,286 279,571 14,714 Mun Cap Wrks R/F Road reconstruction-Energy Drive 4,163 4,163 - Road reconstruction-George Reynolds Drive 2,958 2,958 - Roadreconstructlon-Green Road Grade Separation 641,499 50,000 97,524 Developer contribution 493,975 To be funded from Future D/C Debt Road reca nstructlon-Lake Road Extension 8,511 8,511 - Roadreconstructlon-Grady Drive 2012(Foster Creek) 12,867 12,867 - gold reco nstructlon-Grady Drive 2013(Foster Creek) 3,280 3,280 - Roadreconslruct Ion-Concession Road#3(Liberty Street to J011ow Drive) 818 712 106 Mun Cap Wrks R/F Road reconstructlon-Concession Road 43(Highway 057 to Middle Road) 623 555 69 Mon Cap Wrks R/F Road reconstructlon-Port Darlington Waterfront Park 1,109,919 468,100 641,819 Developer contribution Road reconstructlon-Green Road(from CP Rallway5outh to Baseline Road) 58,597 58,597 - Road reconstructlon-Green Road North(Highway 42 to Stevens Road) 113,820 91,056 22,764 Mun Cap Wrks R/F Road reconst ruction-Green Road(North of Stevens Road) 899,088 764,321 33,530 Tax Levy 30,418 Roads COnt'It R/F 70,819 Mun Cap Wrks R/F Sidewalk construction-Trulls Road 120,634 120,634 - Sldewalkconst ruction-Courtice Road(Moyse Drive to Nash Road) 38,310 38,310 - Sldewalkconstructlon-Baseline Road(Simpson Avenue to Simpson Avenue Realignment) 40,332 40,332 Sidewalk construction-Highway#2(Boswell Drive to Green Road) 40,488 9,988 30,500 Developer contribution Street Lighting-Osborne Road 4,567 4,384 183 Mun Cap Wrks R/F Bowmarvllle Creek Erosion 139,398 93,396 46,001 Mun Cap Wrks R/F Soper Creek Erosion Control 558 374 184 Mun Cap Wrks R/F Brookhill Tributary Nick Point Remedial Work 5,734 3,823 1,911 Mun Cap Wrks R/F 4,857,157 2,914,739 1,942,419 TOTAL CAPITAL EXPENSES 10,013,113 4,845,473 5,167,640 SUMMARYOF FINANCING: 1,162,620 D/C-Emergency Services R/F 308,357 D/C-Park Dev.&Related Facilities R/F 459,757 D/C-Operations R/F 2,914,739 D/C-Roads and Related R/F 1,878,464 Municipal Capital Works R/F 34,262 Engineering Parks Capital R/F 71,577 Operations Equlp.R/F 30,418 Roads Contribution R/F 39,318 We Equipment R/F 79,651 Tax Levy 1,547,254 Developer contribution 992,721 Provincial Grant 493,975 Debt Recovery TOTAL FINANCING 10,013,113 4,845,473 5,167,640 SCHEDULEC MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2013 YEAR Total Expenses D/C R/F NON D/C R/F REVENUE FUND EXPENSES For2013 FINANCING FINANCING DESCRIPTION D/C-GENERAL GOVT Planning-Official Plan Review 56,234 738 82 Prof Fees Reserve 55,414 Federal Gas Tax R/F Legal-D/C Intervenor and OMB Hearing 27,196 24,477 2,720 Tax Levy Fire Master Plan 69,090 62,181 6,909 Tax Levy Courtice Library Needs Assessment 50,000 45,000 5,000 Tax Levy Operations-Stormwater Master Plan 19,324 17,391 1,932 Mun Cap Wrks R/F Financial Impact Analysis 3,224 2,902 322 Prof Fees Reserve 225,068 152,688 72,380 D/C-LIBRARY SERVICES 2013 Pending D/C Appeal 54,412 54,412 - Contribution towards Debenture Debt-Newcastle Library 103,735 58,092 45,643 Tax Levy Contribution towards Debenture Debt-Newcastle Library future balloon payment 282,651 282,651 - 440,798 395,155 45,643 D/C-INDOOR RECREATION 2013 Pending D/C Appeal 337,363 337,363 - Contribution towards Debenture Debt-Bowmanville Indoor Soccer 329,688 296,724 32,964 Debt Retirement R/F Contribution towards Debenture Debt-Newcastle District Recreation Centre 1,586,309 1,586,309 - Contribution towards Debenture Debt-South Courtice Arena 1,071,333 1,071,333 - 3,324,693 3,291,729 32,964 0/C-PARK DEVELOPMENT&RELATED FACILITIES 2013 Pending D/C Appeal 124,482 124,482 - ParksDevelopment-Consulting 3,712 3,341 371 Tax Levy 128,194 127,823 371 D/C-OPERATIONS 2013 Pending D/C Appeal 7,161 7,161 - operation5-Small Equipment Purchases 12,571 11,314 1,257 Tax Levy 19,732 18,475 1,257 D/C-ROADS AND RELATED Engineering Consulting-Studies 121,189 121,189 - EngineeringConsulting-Design 98,259 49,130 49,130 Tax Levy 219,448 170,319 49,130 D/C-PARKING 2013 Pending D/C Appeal 966 966 - 966 966 TOTAL REVENUE FUND EXPENSES 4,358,899 4,157,154 201,745 SUMMARY OF FINANCING: 152,688 D/C-General Goverment 395,155 D/C-Library Services 3,291,729 D/C-Indoor Recreation 127,823 D/C-Park Development&Related Facilities 18,475 D/C-Operations 170,319 D/C-Roads and Related 966 D/C-Parking 1,932 Municipal Capital Works R/F 32,964 Debt Retirement R/F 55,414 Federal Gas Tax 111,030 Tax Levy 404 Professional Fees Reserve TOTAL FINANCING 4,358,899 4,157,154 201,745 SCHEDULE D MUNICIPALITY OF CLARINGTON DEVELOPMENT CHARGES RESERVE FUND STATEMENT FOR THE 2013 YEAR COMMITT ED AMOUNTS FROM PRIOR YEARS'BUDGETS/COUNCIL APPROVALS YEAR PROJECT/DESCRIPTION AMOUNT COMMITTED RESERVE FUND: D/C-GENERAL GOVERNMENT 2007 Operating 1065013010529-7160 Plan-Official Plan Review 379,142 2011 Operating 100-SO-130-00000-7160 Planning Consulting Studies 162,000 2008 Capital 11036-130-83801-7401 Operations-Master Plan 28,836 2011 Operating 100L 14.130,00000-7161 D/C Intervenor and OMB Hearing 22,483 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 13,963 2012 Operating 10028-280-00000-7160 Fire-Master Plan 5,319 2013 Operating 100-14-130-00000-7161 D/C-Appeal 36,000 Total Commited: 647,743 RESERVE FUND: D/C-LIBRARY SERVICES 2011 Operating 10662.44010570-7602 Ll bra ry Cc l lectlo u-Purchase of Add']Resources In all Formats 231,429 Total Commited: 231,429 RESERVE FUND: D/C-EMERGENCY SERVICES 2012 Capital 11028-37682844-7401 Newcastle Fire Hall#2-Admin Funds for relocation&Construction 368,912 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 33,386 2012 Capital 11028-37682845-7401 Expansion to H.Q Station 94,316 2013 Capital 11628.281.82815-7401 Bunker Gear 9,525 2013 Ca ital 11028-388-82824-7401 Training Prevention Van 10,166 Total Commlted: 516,305 RESERVE FUND: D/C-INDOOR RECREATION 2010 Balance remaining of Interim Financing from Reserve Funds 747,054 2011 Balance remaining of Interim Financing from Reserve Funds 228,246 2012 Balance remaining of Interim Financing from Reserve Funds 786,415 2013 Balance remaining of Interim Financing from Reserve Funds 1,096,407 Total Commited: 2,858,122 RESERVE FUND: D/C-PARK DEVELOPMENT&RELATED FACILITIES 2006 Capital 110-32-325-83287-7401 Waverly Road,Bowmanvllle-Landscape Feature Area/Plantings/Sign/Lighting 101,589 2011 Capital 11032-325-83282-7401 Port Darlington Waterfront Park 25,708 2012 Capital 11032-325-83365-7401 Hancock Neighbourhood Park 55,975 2013 Capital 11632-325-83406.7401 Port Darlington Waterfront Park East Beach Phase 1 150,000 2013 Capital 11032-325-83231-7401 Longworth Park-Splash Pad/Walkways/Benchs/Shade Structure 271,430 2013 Capital 11632-325-83404-7401 Toole',MITI Park-Walkways/Benchs/Gazebo 211,077 Total Commited: 8151779 RESERVE FUND: D/C-OPERATIONS 2011 Operating 10036-386-10210-7505 2011 OPG-Commitment for future Payout Upon LEED Certification 33,029 2012 Operating 100-36-380-10370-7505 Operations-Fleet Small Equip Purchases 1,038 2012 Capital 11036-37083688-7401 Hampton Office Expansion 18,000 2012 Capital 11636-388.83643-7401 New Equipment Roads-2012 Various 104,680 2013 Operating 1003 6-3 8 0-103 7 0-7 5 0 5 Oper-CPS Units 1,805 2013 Capital 11636-37083677 Depot 42 Operations Centre-Construction of Pole Barn/Quonset Hut 282,100 2013 Capital 11019-388-81904 Municipal Law Enforcement Vehicle 4-Wheel Pick-up Crew Cab 4,768 2013 Capital 11036.388-83643 Fleet New-Roads(Radios&Salt Management) 141,434 Total Commited: 586,853 RESERVE FUND: D/C-ROADS AND RELATED 2010/2011 Capital 11032-33083265-7401 Clarington Boulevard,Bowmanvllle-Uptown to 370m north-Reimburse Collector Roads Construction 200,798 2007 Capital 11632-33083276-7401 Green Rd,Bowmanville-Basellne Road to Boswell Drive-Road Reconstruction/DC debt 147,476 2011 Capital 11632-336833267401 Rudell Road Reconstruction 62,645 2010 Capital 11032-33083334-7401 Osbourn,Road 393,052 2010/2011 Capital 11632-33083356-7401 Green Road-635 in North of Stevens Road 45,655 2011 Capital 11032-33683358-7401 North Scugog Court 885,885 2007/2008 Capital 11032-331-83278-7401 Hwy#2,Bowmanvllle-Clarington Boulevard/South Side to Green Road/North Side 17,546 2011 Capital 110-32-331-83360-7401 Liberty Street DC Sidewalk 30,000 2011 Capital 11032-331-83363-7401 Baseline Road Sidewalk-Green Road to Westside Drive 75,248 2011 Capital 11632-34683361-7401 Brookhill Tributory Nick Point Remedial Work 7,101 2011 Operating 2011 OPG-Commitment for future Payout Upon LEED Certification 190,959 2012 Operating 10632-13600000-7510 Transportation Master Plan 57,726 2012 Capital 11632-34083284-7401 Soper Creek Erosion Control 6,238 20130perating 10632-136000067167 Engineering Consulting-Design 6,001 2013 Capital 11032-324-83334-7401 Osborne Road-Streetllghling 147,403 2013 Capital 11632-32583406.7401 Port Darlington Waterfront Park East Beach Phase 1 341,900 2013 Capital 11632-33683296.7401 Stevens Road,Bowmanville Extension-Road Reconstruction 17,952 ' 2013 Capital 11632-33683298-7401 Green Rd.North Road Reconstruction Surface Asphalt 32,169 2013 Capital 11632-33083318-7401 Grady Dr(@Foster Creek) 31,720 2013 Capital 11632.33683331-7401 Third S treet Surface Asphalt(Elgin St.-High St.) 3,454 2013 Capital 11032-33083332-7401 High St.Reconstruction-Third St.-Fourth St. 3,450 2013 Capital 110-32-33683340-7401 Nelson Street Rd.Reconstruction(Hunt St.-Ontario St.) 49,197 2013 Capital 110-32-33083403-7401 Energy Drive Extension 55,837 2013 Capital 11632-33683408-7401 Baseline Rd.Reconstruction-Darlington Creek to West Side Drive Surface Asphalt 64,791 2013 Capital 110-32-33683410-7401 Trolls Rd.Reconstruction 103,057 2013 Capital 11032-33083412-7401 George Reynolds Drive Connecting Link(Courtice Rd.-Harry Gay Dr.) 27,042 2013 Capital 11032-33683415-7401 Concession Rd.3(Liberty St.-Jollow Dr.)Design 31,453 2013 Capital 11632.33683416-7401 Concession Rd.3(Middle Rd.-Liberty St.) 57,935 2013 Capital 11632-33683417-7401 Concession Rd.3(#57-Middle Rd.) 79,743 2013 Capital 11632.331-83300 Sidewalk-Trulls Rd.George Reynolds Dr.-Nash Rd.) 34,366 2013 Capital 110-32-33 1-83334 Sidewalk-Osborne Road(Energy Dr.-Southern limit) 40,349 2013 Capital 11632-331-83341 2010 D/C Study Item#4 Baseline Rd Sidewalk 2,068 2013 Council Report 110-32-331-83345 Sidewalk-Courtice Road(Moyse Dr-Nash Rd) 2,590 2013 Capital 11632-331-83346 Sidewalk-Prestonvale Rd.(Meadowglade Rd.-Claret Rd.) 5,000 2013 Capital 11632-332-83231 Longworth Ave.Intersection Pedestrian Signal @ Brooking St. 85,000 2013 Capital 11632-34683418 Bowmanville Creek Erosion Protection North of Longworth Avenue 15,000 2013 Capital 11032.34083419 Bowmanville Creek Erosion Protection North @ Jackman Rd, 39,937 2013 Capital 11632-34683420 Bowmanville Creek Erosion Protection South of Goodyear Dam 15,000 Total Commited: 3,412,742 RESERVE FUND: D/C-PARKING 2011Operating 2011 OPG.Commitment for future Payout U on LEED Certification 2,990 Total Commited: 2,990 TOTAL COMMITTED TO DEVELOPMENT CHARGES RESERVE FUNDS 9,071,963