HomeMy WebLinkAboutFIN 09-24Report to Council
Report Number: FIN 09-24
Date: June 24, 2024
From: Stan Karwowski
Director, Finance & Treasurer
Subject: Annual Treasurer’s Statement Report
-Summary of Activity for the Year Ended December 31, 2023
- - File: F-4920-001
Recommendation:
1.That Report FIN 10-24 of the Director, Finance & Treasurer entitled “Annual
Treasurer’s Statement Report: Summary of Activity for the Year Ended December
31, 2023” as required by the Development Charges Act and Planning Act be
received for information;
2.That the City of Pickering’s “Annual Treasurer’s Statement Report” be made
available to the public on the City of Pickering’s website; and,
3.That the appropriate City of Pickering officials be given authority to take the
necessary actions to give effect thereto.
Executive Summary: The purpose of this report is to provide an update on the
legislated Reserve Funds as of December 31, 2023. Development Charges (DC) are
collected by the City for the sole purpose of funding necessary infrastructure for new
residents and businesses. All DC funds collected can be used only for the purpose in
accordance with the Development Charges Act, 1997 (DCA). These funds are collected
so that existing property owners are not unduly burdened by the cost of growth related
infrastructure.
The attached DC Statements are being provided for information in accordance with
requirements of the DCA. The purpose of this report and associated statements is to
ensure that all transactions related to development charges have been correctly
accounted for and reported, as stipulated under the DCA.
Section 43 of the DCA requires that the Treasurer provides Council with a financial
statement relating to the Development Charges By-law and reserve fund established for
each service as established under Section 33 of the DCA.
Attachment 1 provides pre-audit details of the activity of the Development Charges
Reserve Fund (DCRF) for the year ended December 31, 2023, in the manner
prescribed by section 43(2)(a) of the DCA. Attachment 2 provides pre-audit details on
information related to assets funded by the development charges by-law as stipulated
by section 43(2) (b) of the amended DCA.
FIN 09-24 June 24, 2024
Subject: Annual Treasurer’s Statement Report Page 2
_____________________________________________________________________
Section 42 under the Planning Act, requires the Treasurer of the municipality to provide
Council with a statement relating to the status of the cash-in-lieu of parkland reserve
fund. This requirement is a result of the passage of Bill 73, Smart Growth for our
Communities Act.
Section 37 under the Planning Act, requires the Treasurer of the municipality to provide
the Council with a statement relating to the increases in height and density of
development. Under City’s By-law No. 7590/17 and 7954/22, these reserve funds were
established as the Public Benefits Reserve Fund and Community Benefit Charges
Reserve Fund, respectively.
Legislation requires Council to ensure that these statements are made available to the
public. These statements will be posted on the City’s website to facilitate compliance
with the amendment.
Relationship to the Pickering Strategic Plan: The recommendations in this report
respond to the Pickering Strategic Plan Corporate Key to Deliver on Good Governance
– Open & Transparent Decision Making.
Financial Implications: During the three-year period from 2021 to 2023
development charges collected were approximately $9.12 million in 2021, $14.07 million
in 2022 and $29.70 million in 2023. The City saw an increase of DC collections of
approximately 110% from 2022 to 2023. The main reason for this increase is due to
multiple Site Plan Agreements being approved in 2023 for large developments, with
developers subsequently pulling their building permits and paying their DC fees. Some
of these large developments includes Universal City (1496 Bayly Street), Tribute Limited
(Bayly Street), Brock Dersan Development Inc and Caplink Limited (Highway 7).
Attachment 1 provides a breakdown of the various DC service categories. Two of the
service categories are in a negative position (before commitments) due to DC funding
for the new Operations Centre and the new financial system. The negative balances will
be addressed through DC fees collected from current growth related activity, as these
negative balances were included in the 2022 DC Background Study and will be included
in the next DC Study, which is expected to be completed in 2025.
The overall positions of the Development Charges Reserve Fund for the period of 2018
to 2023 is presented below.
FIN 09-24 June 24, 2024
Subject: Annual Treasurer’s Statement Report Page 3
_____________________________________________________________________
Development Charges Reserve Fund Summary – 2018 to 2023
2018 2019 2020 2021 2022 2023
Opening Balance 48,100,585 58,789,415 62,598,255 69,376,247 77,078,827 84,230,905
Collections 13,033,850 7,386,544 12,492,201 9,118,065 14,067,449 29,700,179
Investment Income 918,412 1,268,310 1,056,032 813,946 1,407,016 3,992,553
Bill 23 Top-up 0 0 0 0 0 3,738,095 1
Use of Funds (3,263,432) (4,846,014) (6,770,241) (2,229,431) (8,322,387) (6,414,783)
Ending Balance 58,789,415 62,598,255 69,376,247 77,078,827 84,230,905 115,246,949
Budget Commitments (19,089,535) (27,144,954) (36,469,498) (60,687,888) (64,143,674) (67,345,372)
End Bal After Budget
Commitments
(Deficit) 39,699,880 35,453,301 32,906,749 16,390,939 20,087,231 47,901,577 2
1 City had to fund the DC revenue loss due to Bill 23; this amounted to $3,738,095 in 2023
2 Excludes Pickering Heritage Community Centre (PHCC) construction award (issued in 2024)
The Treasurer’s Statement for the Parkland, Public Benefits and Community Benefit
Charges Reserve Funds as required under the Planning Act is as follows:
Parkland
($)
Public
Benefits
($)
Community
Benefit
Charges ($)
Open Balance January 1, 2022 5,850,226 269,251 (5,671)
Revenues
Developer/Third Party Contributions 1,103,210 0 456,865
Interest Income 244,707 10,528 14,198
Total Revenue 1,347,917 10,528 471,063
Expenses
Transfers to Capital Fund (1,316,797) 0 (3,338)
Net Change for the Current Year 31,120 10,528 467,725
GL Bal. before commitments
December 31, 2023
5,881,346
279,779 462,054
Budget Commitments 2023 & Prior (2,122,180) (279,779) (489,819)
Funds Balance after Budget
Commitments
3,759,166
0
(27,765)
Amendments were made to the Planning Act in 2020 with the passage into law of Bill
197 – COVID-19 Economic Recovery Act. This bill allows municipalities to impose a
FIN 09-24 June 24, 2024
Subject: Annual Treasurer’s Statement Report Page 4
_____________________________________________________________________
Community Benefit Charge (CBC), which will allow single-tier and lower-tier
municipalities to collect fees from developer’s (on top of Development Charges and
Parkland Dedication) to pay for capital costs of community facilities and administrative
studies.
The Community Benefit Charge can only be imposed if a development/redevelopment
requires a passing of zoning by-law (or an amendment) under section 34 of the
Planning Act, the approval of a minor variance under section 45 or an approval of a plan
or subdivision under section 51. However, a CBC would not be imposed if the
development is less than 5-storeys or less than 10 residential units.
The CBC replaces the current Public Benefits Reserve Fund under Section 37
(increased density allocations). The residual funds remaining in the Public Benefits
Reserve Fund is committed to a parks related capital project and the Reserve Fund will
be closed upon completion of this project.
Discussion: The purpose of this report is to provide an update on the legislated
Reserve Funds as of December 31, 2023. Funds are not transferred out of the
Development Charges Reserve Fund for projects until the funds are actually needed, as
required by applicable accounting rules. This ensures that the reserve fund continues to
earn interest income on the unspent monies until such time as actual expenses are
incurred.
The total pre-audit reserve fund balance of $115.2 million represented in Attachment 1
represents the unspent monies as at December 31, 2023. Please note that there are
approximately $67.3 million of committed capital projects, ongoing studies, and financial
obligation that have been approved in prior years, but have not proceeded or are still
ongoing as of December 31, 2023. Of these commitments, approximately $13.6 million
or 20 percent relate to the Pickering Heritage Community Centre. However, when you
consider the 401 Bridge and Road Crossing and the Seaton Recreation Complex
projects at their current estimated projected costs, sometime in the near future, there is
a possibility that all of the DC components will be in a deficit position. Having various
DC components in a deficit position is not unusual when you consider that the City is
now transitioning from a moderate to a higher growth scenario due to Seaton and
downtown area intensification.
As presented in Attachment 1, there is approximately $17.5 million in outstanding
debenture commitments across three service categories. These debenture
commitments are:
• new Operations Centre - $9.4 million
• construction of Fire Station #1 - $7.3 million
• purchase of land in north Seaton for a new Fire Station - $0.8 million
The total projected net surplus position after all budget expenditures, was approximately
$47.9 million for the year-ended December 31, 2023.
FIN 09-24 June 24, 2024
Subject: Annual Treasurer’s Statement Report Page 5
_____________________________________________________________________
In order to meet the requirements under section 43(2.1) of the amended DCA and
section 37 and 42 of the Planning Act, it is recommended that these statements be
placed on the City’s website upon approval by Council.
Attachments:
1. 2023 Statement of the Treasurer – Development Charges Reserve Fund (Pre-
Audit)
2. Amount Transferred to Assets – Capital & Current Funds Transactions (Pre-Audit)
Prepared By: Approved/Endorsed By:
Original Signed By: Original Signed By:
Jason Bekramchand, CPA Stan Karwowski, CPA, CMA, MBA
Senior Financial Analyst – Capital & Director, Finance & Treasurer
Debt Management
Recommended for the consideration
of Pickering City Council
Original Signed By:
Marisa Carpino, M.A.
Chief Administrative Officer
Attachment 1 to Report FIN 09-24City of Pickering
2023 Statement of the Treasurer - Development Charges Reserve Fund - (Pre Audit)DC Act S 43 (2)(a)
For the year ended December 31, 2023
Services to which the Development Charges Relates
8601 8602 8603 8604 8605 8606 8607 8608
Description
Fire Protective
Services Transportation Other Services
Related to a
Highway (Deficit)
Storm Water
Mgmt Studies (Deficit)Parks & Recreation Library: Facilities
& Materials
By-Law Services
Enforcement Total
$ $$$$$$$$
Opening Balance, January 1, 2023 3,270,777 32,488,091 (1,394,904)4,355,002 (1,478,782)39,739,253 7,247,848 3,620 84,230,905
Plus:
Development Charges Collections 1,748,338 6,018,095 1,032,450 647,245 408,098 16,692,294 3,050,064 103,595 29,700,179
Bill 23 Top Up 236,351 61,522 150,112 92,559 46,985 2,642,651 486,844 21,071 3,738,095
Interest Income-Internal Investment 1,380 13,711 - 1,838 - 16,771 3,059 2 36,760
Interest Income-Negative Balance 4,948 49,151 (56,637) 6,589 (75,143) 60,122 10,965 5 (0)
Interest Income -External Investment 151,029 1,493,770 - 202,736 - 1,858,421 339,121 149 4,045,227
Less: Admin Fee (3,358) (33,357) - (4,471) - (40,802) (7,442) (4) (89,434)
Sub-Total 2,138,689 7,602,891 1,125,925 946,496 379,940 21,229,456 3,882,611 124,818 37,430,826
Less:
2023 Transfer to Capital Funds 1 (1,866,107) (1,087,199) - (314,986) (53,755) (1,361,099) (169,098) (18,002) (4,870,246)
2023 Transfer to Current Funds 1 (543,426) 3 - (452,295) 3 (15,717) (176,231) (310,345) 3 (46,523) - (1,544,537)
Sub-Total 2023 (2,409,532) (1,087,199) (452,295) (330,703) (229,987) (1,671,444) (215,621) (18,002) (6,414,783)
Closing Balance, December 31, 2023 before Budget Commitments 2,999,934 39,003,784 (721,274)4,970,794 (1,328,829)59,297,265 10,914,839 110,436 115,246,949
Less Budget Commitments 2 (753,465) (16,507,490) (2,118,879) (3,732,154) (553,019) (21,972,466)(1,308,120)(2,901,986) (49,847,579)
Less Debt Charges Commitments 4 (8,077,187) - (5,770,864) - - (3,649,741) - - (17,497,793)
Sub-Total Budget Commitments (8,830,653) (16,507,490) (7,889,744) (3,732,154) (553,019) (25,622,207) (1,308,120) (2,901,986) (67,345,372)Closing Balance, December 31, 2023 after Budget Commitments-(Deficit)(5,830,719) 22,496,294 (8,611,018) 1,238,640 (1,881,848) 33,675,058 9,606,719 (2,791,550) 47,901,577
Notes
1. See Attachment 2 for detailed breakdown.
2. Budget commitments include capital projects previously approved, but have not proceeded or still ongoing. 2023 & Prior Commitments.
3. Annual principal & interest payment related DC debenture financing
4. Includes outstanding principal & interest payments related to DC debenture financing
The Municipality is compliant with s.s.59.1(1) of the Development Charges Act,whereby charges are not directly or indirectly imposed on development nor has a requirement to
construct a service related to development been imposed, except as permitted by the Development Charges Act or another Act.
1 of 4
Attachment 2 to Report FIN 09-24City of PickeringAmount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit)DC Act S 43 (2)(b)For the year ended December 31, 2023
DC Recoverable Cost Share Non - DC Recoverable Cost Share
Description Project Code
Gross
Capital
Costs
DC RF 5:
Funded in
prior years
DC RF 5:
Funded in
2023
DC RF 5:
Future
Funding 1
Other
Reserves/Re
serve Funds
Type of Funds (R=Reserve, RF=Reserve
Fund)
Property
Taxes
Other
Sources Type Total Funding
Development Related Studies
New Financial System C10600.1801 5,000,000 1,484,151 53,755 418,594 1,743,500 R-Rate Stabilization 1,300,000 R-Financial System 5,000,000
Comprehensive Zoning By-law Review-Phse 1 to 3 10105-502230 449,311 213,942 78,284 5,711 151,373 449,311
Northeast Pickering OPA - Background studies 10105-502230 566,053 38,745 79,172 46,238 401,898 Third Party Contribu 566,053
Facilities Renewal Plan 10325-502230 135,000 0 18,775 48,725 67,500 R-DC City's Share 135,000
Official Plan Review Background Study 10105-502230 50,000 0 0 33,750 16,250 50,000
Sub-total Studies 6,200,364 1,736,837 229,987 553,019 1,811,000 - 167,623 1,701,898 6,200,364
Fire Protection Services
Seaton- New Fire Hall-Site Preparation, Other Construction ReC10700.1601 1,066,290 330,876 3,936 529,840 201,637 R-DC City's Share 1,066,290
FS #1 New Fire Station & HQ (Seaton) Bunker Gear & Breathin
C10700.1901/2008/
2102/2201 442,453 254,570 99,464 88,419 442,453
Aerial Ladder Truck (Seaton Fire Station #1) - New - Aerial LadC10700.1903 1,510,641 59,046 1,402,038 12,044 37,513 RF - Seaton Land Grp FIA 1,510,641
Seaton FS#1- New Fire Station & H.Q.Re-design - Design and C10700.2007 485,704 369,885 83,719 19,956 12,143 R-DC City's Share 485,704
FS #1 New Fire Station & HQ (Seaton) - Construction DC Debt 11100 8,136,830 477,091 396,409 7,263,330 2 8,136,830
Small Vehicle (Seaton Fire Station A) - New C10700.2105 38,372 - 37,412 0 959 R-Vehicle 38,372
FS #1 New Fire Station & HQ (Seaton) - FF&E C10700.2107 356,160 19,984 204,910 21,456 109,810 RF - Seaton Land Grp FIA 356,160
Fire Hall Technology - Seaton C10405.2101 39,076 3,473 34,626 0 977 RF - Seaton Land Grp FIA 39,076
Seaton North FS - Land (Debt charges)11100 1,166,324 236,200 116,267 813,858 2 1,166,324
Fire Master Plan 10700-502230 150,000 - 30,751 81,749 37,500 R-DC City's Share 150,000
Sub-total Fire Services 13,391,849 1,751,125 2,409,532 8,830,653 399,580 0 959 13,391,849
By-Law Enforcement Services
Animal Shelter - Design & Construction C10430.2101 9,739,000 20,240 18,002 2,901,986 3,429,292 RF - Animal Shelter & R-City's Share 3,369,480 Debt 15-Yr 9,739,000
Sub-total By-Law Enforcement Services 9,739,000 20,240 18,002 2,901,986 3,429,292 0 3,369,480 9,739,000
Transportation
BR-1 Third Concession Road - Brock Road to 425m East (T/L) C10575.1101 1,403,947 350,987 0 0 351,263 R-City's Share & RF-FGT 701,697 Debt 15-Yr 1,403,947
B-29 Sandy Beach Road - EA, Design, Construction C10575.1609 5,895,000 163,318 0 2,784,182 2,647,500 R-AIP & R-DC City's Share 300,000 Loan 10-Yr 5,895,000
Walnut Lane Extension Study & EA, Design, Construction (relaC10575.1801 9,021,226 316,581 21,016 6,428,321 2,255,307 R-DC City's Share 9,021,226
DH-4 Valley Farm Road - Road Oversizing - DH-4 Valley Farm C10575.1804 288,000 91,849 0 167,351 28,800 R-DC City's Share 288,000
B-29 Sandy Beach Rd. - Road Reconstruction Phase 1 - Sandy C10575.1904 2,000,000 - 0 1,000,000 1,000,000 R-DC City's Share 2,000,000
2 of 4
City of PickeringAmount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit)DC Act S 43 (2)(b)For the year ended December 31, 2023
DC Recoverable Cost Share Non - DC Recoverable Cost Share
Description Project Code
Gross
Capital
Costs
DC RF 5:
Funded in
prior years
DC RF 5:
Funded in
2023
DC RF 5:
Future
Funding 1
Other
Reserves/Re
serve Funds
Type of Funds (R=Reserve, RF=Reserve
Fund)
Property
Taxes
Other
Sources Type Total Funding
B-26B A-11 (Plummer Street)C10575.2001 364,045 - 0 273,033 91,012 R-DC City's Share 364,045
Highway 401 Road Crossing Design C10575.2002 3,478,460 18,512 7,490 1,574,090 1,391,384 Third Party Contribution 486,984 Loan 2-Yr 3,478,460
Hwy 401 Road Crossing - Land Acquisition - Phase 1 C10575.2004 4,887,626 1,116,222 937,626 133,778 700,000 RF- Roads & Bridges 2,000,000 Third Party Contribution 4,887,626
Hwy 401 Road Crossing - Land Acquisition - Phase 2 C10575.2004 10,934,876 4,966,534 0 9,698 4,373,950 Debt-20 Yr 1,584,694 Loan 2-Yr 10,934,876
City Dev Projects-DCRF committed 5,300,200 - 0 3,103,850 4 2,196,350 R-DC City's Share 0 5,300,200
Sidewalks W0-2,WO-10 Kingston Rd & Altona C10515.1603/1801 294,262 7,912 121,067 18,152 147,131 R-DC City's Share 0 294,262
1 Ton Dump Truck with Aluminum Body, Plow and Salter - New C10315.2113 273,142 - 0 273,142 273,142
Scarborough/Pickering Townline Road Reconstruction - Finch AC10570.2207 1,005,300 10,939 0 491,711 305,150 R-DC City's Share 197,500 Third Party Contribution 1,005,300
DH-3 Tillings Road - Road Oversizing C10575.1803 294,800 15,140 0 250,180 29,480 R-DC City's Share 294,800
Sub-total Transportation 45,440,884 7,057,993 1,087,199 16,507,489 15,517,327 0 5,270,875 45,440,883
Stormwater Management
B-20 D Krosno Creek SWM Facility Design & Construction C10575.1904 2,280,400 - 0 1,094,592 1,185,808 R-DC City's Share 2,280,400
Breezy Drive/Sunrise Ave. Storm Sewer Outfall Reconstruction C10575.1903 1,446,300 24,862 308,360 28,352 1,084,725 R-DC City's Share 1,446,300
Installation of Oil Grit Separators - Installation of Oil Grit Separators FC10575.1903 300,900 - 0 85,310 215,590 R-DC City's Share 300,900
Krosno Creek Culvert Replacements & Erosion Control Construction C10575.1910 4,800,000 68,661 6,626 2,228,713 2,496,000 R-DC City's Share 4,800,000
Installation of Oil Grit Separators - Frenchman's Bay C10575.2203 349,000 - 0 99,000 250,000 R-DC City's Share 349,000
City Centre Storm Water Mgmt Strategy 10510-502230 249,156 20,476 8,508 195,257 24,916 R-DC City's Share 249,156
Pine Creek Erosion Assessment Municipal Class EA Study 10510-502230 76,524 1,580 7,209 930 66,805 76,524
Sub-total Stormwater Management 9,502,280 115,579 330,703 3,732,154 5,257,039 9,502,280
Other Services Related to a Highway
5 Ton Dump Truck with Snow Plow & Wing C10315.2222 404,000 0 0 404,000 0 404,000
4 Ton Dump Truck with Snow Plow, Wing & Brine Tank (2)C10315.2223 804,400 0 0 804,400 0 804,400
City Centre Transportation Master Plan 10500-502230 261,727 67,031 40,743 127,779 0 26,173 261,727
Sidewalk Plow with Attachments - New C10305.2305 175,000 0 0 175,000 0 175,000
4 Ton Dump Truck with Snow Plow & Wing C10315.2205 387,700 0 0 387,700 0 387,700
1 Ton Truck with Tailgate C10315.2306 110,000 0 0 110,000 0 110,000
1 Ton Dump Truck with Tailgate Lift C10315.2312 110,000 0 0 110,000 0 110,000
Operations Centre-Debt Charges 61% of total debt charges 11100 8,279,058 2,096,643 411,551 5,770,864 2 0 8,279,058
Sub-total 10,531,885 2,163,674 452,295 7,889,744 0 10,531,885
3 of 4
City of PickeringAmount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit)DC Act S 43 (2)(b)For the year ended December 31, 2023
DC Recoverable Cost Share Non - DC Recoverable Cost Share
Description Project Code
Gross
Capital
Costs
DC RF 5:
Funded in
prior years
DC RF 5:
Funded in
2023
DC RF 5:
Future
Funding 1
Other
Reserves/Re
serve Funds
Type of Funds (R=Reserve, RF=Reserve
Fund)
Property
Taxes
Other
Sources Type Total Funding
Parks & Recreation Services
Indoor Soccer Facility and Land - Design & Construction of Ind C10220.1401 7,296,605 3,369,586 0 114,543 78,375 R-DC City's Share 101 3,734,000 Debt 15-Yr 7,296,605
Duffin Heights Village Green (East)-New C10320.1708 190,000 5,670 0 161,055 23,275 190,000
Duffin Heights Neighbourhood Park Construction C10320.1808 695,000 19,666 0 599,459 75,875 R-DC City's Share 695,000
Seaton (P103) Village Green Construction C10320.1816 210,000 - 0 184,275 25,725 RF-FIA 210,000
Village Green Seaton P-114 (88/12)C10320.1909 222,000 - 1,469 193,336 27,195 RF-Parkland 222,000
Seaton Parks P-123, P-112, P-113, P-126, P-127, P-121 C10320.2023-2025, 2118, 2119, 2205 5,815,000 - 5,669,500 145,500.00 RF-Seaton FIA 5,815,000
Pickering Heritage & Community Ctr (Design)-Community Ctr component C10220.2011 1,503,779 152,752 34,137 11,895 753,943 4 R-Rate Stabilization: $693K
RF-DC City's Share: $61K 551,052 RF-DC Library
Facilities 1,503,779
PHCC Project Management C10220.2011 450,000 - 0 42,630 76,500 4 R-DC City's Share 330,870
Grant-Fed: $300k RF-DC Library Facilities: $30,870 450,000
PHCC - Construction C10220.2011 38,889,000 16,843 44,510 12,354,595 1,116,502 4 RF-DC Library Facilities 25,356,550
Grants: $16.50M
Debt 20-Yr: $8.37MCBC RF: $489K 38,889,000
Rotary Frenchman's Bay West Park Waterfront Master Plan C10320.1912 2,730,488 263,687 954,059 147,498 1,365,244 R-DC City's Share 2,730,488
Rotary Frenchmans Bay West-Accessibility C10320.1913 1,426,819 413,836 292,474 7,100 713,409 R-DC City's Share 1,426,819Seaton Community Centre - Preliminary Planning,
Investigations & Design C10260.2101 150,000 - 23,452 114,998 11,550 RF-Seaton FIA 150,000
Skate Board Park - West Shore C10320.2124 198,666 98,608 725 0 99,333 R-DC City's Share 198,666
Skate Board Park - Community Size - Design & Construction C10320.2134 920,000 2,798 457,202 460,000 R-DC City's Share 920,000Operations Centre - DC Debt Charges, 39% of total debt charges 11100 5,253,341 1,340,476 263,123 3,649,741 2 0 - 5,253,341
Various Park Vehicles
C10305.2306,
C10320.2313, 2316, 2321-2323 666,885 - 20,186 646,699 0 666,885
C10320.2303- Creekside Park – Expansion C10320.2303 110,000 - 0 107,200 2,800 R-DC City's Share 110,000
C10320.2305- Village Green - Four Seasons Lane C10320.2305 960,000 - 0 936,000 24,000 R-DC City's Share 960,000
C10320.2318-Tennis/Pickleball Court-ShadybrookPark C10320.2318 400,000 - 1,196 98,804 300,000 R-DC City's Share 400,000
C10320.2332- Park Block at Old Ops Centre Site C10320.2332 50,000 - 0 25,000 25,000 R-DC City's Share 50,000
10200 - Parks & Rec Masterplan (2023)10200-502230 197,200 - 47,222 100,678 49,300 197,200
City Centre Bridge C11100.2004 0 11,109 -11,109 0 0 0
Sub-total 68,334,782 5,695,031 1,671,444 25,622,207 5,324,226 49,401 29,972,472 68,334,782
Library Facilites & Materials
4 of 4
City of PickeringAmount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit)DC Act S 43 (2)(b)For the year ended December 31, 2023
DC Recoverable Cost Share Non - DC Recoverable Cost Share
Description Project Code
Gross
Capital
Costs
DC RF 5:
Funded in
prior years
DC RF 5:
Funded in
2023
DC RF 5:
Future
Funding 1
Other
Reserves/Re
serve Funds
Type of Funds (R=Reserve, RF=Reserve
Fund)
Property
Taxes
Other
Sources Type Total Funding
Pickering Heritage & Community Ctr (Design)-Archive Facility
component C10220.2011 0 434,755 97,159 19,137 3 (551,052)4 RF-DC Library Facilities 0
PHCC Project Management C10220.2011 0 - 30,870 3 (30,870)4 RF-DC Library Facilities 0
PHCC Archives & Library Space - Construction C10220.2011 0 11,997 3,955 1,100,550 3 (1,116,502)4 RF-DC Library Facilities 0
Outreach Vehicle C10900.2109 220,000 - 79,130 118,870 22,000 R-Vehicle Replacement 220,000
Seaton Regional Library - Schematic Design C10905.2101 25,000 - 0 6,465 18,535 RF-Seaton FIA 25,000
City Centre Bridge C11100.2004 0 11,147 -11,147 0 0 0
Library Strategic Plan 10900-502230 105,000 - 46,523 32,227 0 26,250 105,000
Sub-total 350,000 457,898 215,621 1,308,120 (1,657,889)0 350,000
Grand Total 163,491,043 18,998,378 6,414,783 67,345,372 30,080,574 276,638 40,315,684 163,431,428
Notes
1 Projects ongoing. Future funding for incomplete component. DC RF will be drawn when expenses are incurred.
2 DC Costs relates to Debt charges undertaken for the projects
3 Presented as in/out to show funding from "Library Facilities". Total costs and sources of funds presented in "Parks & Recreation".
4 Amount presented relates to DC RF budget commitments only, combined 13 projects. No expenses in 2023.
5 Development Charges Reserve Fund (DC RF)