HomeMy WebLinkAboutCS 07-04PICKERING
REPORT TO
EXECUTIVE COMMITTEE
Report Number: CS 07-04
Date: March 31, 2004
From:
Gillis A. Paterson
Director, Corporate Services & Treasurer
Subject: Cash Position Report as at December 31,2003
Recommendation:
It is recommended that Report CS 07-04 from the
Treasurer be received for information.
Director,
Corporate Services &
Executive Summary: The attached schedules provide the City of Pickering's cash
position, continuity of taxes receivable, outstanding investments, development charges
collected and other development contribution information for the three months ended
December 31,2003.
Financial Implications: The cash position of the Corporation for three months
ended December 31, 2003 was a net decrease in cash of $2,047,122 to $4,316,894.
Sources of Funds totalled $48,553,229 and Use of Funds totalled $50,600,351.
Background: The discussion below describes the purpose and the information
contained in each of the attached schedules.
Statement of Cash Position: Attachment 1 reflects the sources and uses of funds for
the final quarter of 2003. Subcategories have been identified to highlight those cash
transactions that are significant in nature or large dollar value transactions for the City
of Pickering,
Continuity of Taxes Receivable: Attachment 2 summarizes the tax related transactions
from October 1 to December 31, 2003 and provides the outstanding taxes receivable as
at December 31, 2003. This balance represents all three levels of taxes billed, such as
City, Region and School Boards.
Outstandinq Investments: Attachment 3 reflects the shod-term and long-term
investments for both the Current Fund and the Reserve Funds outstanding as at
December 31,2003.
Report CS 07-04
Subject: Cash Position Report as at December 31,2003
Date:
March 31,2004
Page 2
099
Development Charqes Collected: Attachment 4 indicates the total development
charges for the City, Region and School Boards, as the City is responsible for collecting
development charges on behalf of all levels of government. The total amount collected
of $2,085,582 agrees with the balance indicated under Sources of Funds on
Attachment 1. However the remittance of development charges to the Region and
School Boards indicated under the Use of Funds is different than the total collected on
Attachment 4. This variance is a result of timing differences because payments to the
Region and School Boards are due 25 days following the month collected.
Other Development Contributions: Attachment 5 is provided to show other significant
development contributions that have been received.
Attachments:
2.
3.
4.
5.
6.
7.
8.
Statement of Cash Position
Continuity of Taxes Receivable
Outstanding Investments
Statement of Development Charges Collected
Other Development Contributions
City Portion of Development Charges Collected 2002-2003
Building Permits Issued 2000-2003
City Portion of Development Charges Collected 1991-2003
Prepared By:
Approved / Endorsed By:
Avril Payr~e ~
Audit Analyst
Gillis A. Paterson
Director, Corporate Services & Treasurer
Attachments
Copy: Chief Administrative Officer
Recommended for the consideration of
Pickering City C~cil
T~o~r~a-s-J. ~inn, ~ief Admi~tive Offi~r
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^TTACHMENT #/_.L_TO REPORT# C~ ~7-~ 5~,City of Pickering
Cash Position Statement
for three months ending December 31, 2003
December, 2003
Sources of Funds:
Accounts Receivable collected $ 403,527
Development charges collected 2,085,582
Operating 14,797,486
Grants-in-lieu:
Federal 328,108
Provincial 1,060,953
Ontario enterprises 5,711,691
Municipal enterprises 523,840
Linear Properties -
Federal specific grants -
Ontario specific grants 127,060
Interest Income 246,751
Sale of land -
Tax payments received 23,268,231
POA Revenue -
Total $ 48,553,229
Use of Funds:
Operating and Capital Expenditures $ 26,536,171
Payroll 6,048,962
Region Levy 6,093,221
Regional portion of Dev. Charges 741,151
School Board Levies 9,598,162
School Board portion of Dev. Charges 326,725
APTA Funding 1,255,959
Total $ 50,600,351
Net Cash Increase (Decrease) $ (2,047,122)
FINANCIAL POSITION
Bank Balance Net Cash Bank Balance
Oct. 1, 2003 Provided (Used) Dec. 31, 2003
Current Fund $ 6,364,016 $ (2,047,122) $ 4,316,894
TOTAL $ 6,364,016 $ (2,047,122) $ 4,316,894
Note: Includes City, Region and School Boards
Cash Position final quarter 2003.xlsNET CHANGES
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City of Pickering
Other Development Contributions
For three months ending December 31, 2003
CONTRIBUTIONS:
Cash - In - Lieu of Parkland
TOTAL CASH-IN-LIEU OF PARKLAND
$22,400
$22,400
Cash Position final quarter 2003.xlsOther Dev. Contrbtns
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