HomeMy WebLinkAboutFND-006-16 I r'
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Finance Department
Report
If this information is required in an alternate accessible format, please contact the Municipal
Clerk at 905-623-3379 ext. 2102.
Report To: General Government Committee
Date of Meeting: March 29, 2016
Report Number: FND-006-16 Resolution: t4f ,a.
File Number: By-law Number:
Report Subject: Annual Leasing Report— 2015
Recommendations:
It is respectfully recommended that the General Government Committee recommend to
Council the following:
1. That Report FND-006-16 be received for information.
Municipality of Clarington
Report FND-006-16 Page 2
Report Overview
This report complies with the Municipal Act annual reporting requirements on leasing, under
Ontario Regulation 653/05.
1 .0 Background
1.1 Under Ontario Regulation 635/05, 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 use financial leases. For 2015 and to date, there are no material 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.
Strategic Plan Application
The recommendations contained in this report conform to the Strategic Plan.
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Submitted by .> � f . Reviewed by: "`� -
Nancy ; aylo�,"BBA, CPA, CA Franklin Wu,
Director of Finance/Treasurer Chief Administrative Officer
NT/CC/hjl
Staff Contact: Nancy Taylor, Director of Finance/Treasurer, 905-623-3379 ext. 2602 or
ntaylor(a7clarington.net
There are no interested parties to be notified of Council's decision.