HomeMy WebLinkAboutFIN 18-25Report to Council
Report Number: FIN 18-25
Date: November 24, 2025
From: Stan Karwowski
Direcor, Finance & Treasurer
Subject: Annual Treasurer’s Statement Report
Summary of Activity for the Year Ended December 31, 2024
File: F-4290
Recommendation:
1. That Report FIN 18-25 entitled “Annual Treasurer’s Statement Report: Summary of
Activity for the Year Ended December 31, 2024” as required by the Development Charges
Act, 1997 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 comply with the legislative requirements in the Development Charges Act, 1997 (DCA) and the Planning Act that necessitates the Treasurer of the municipality to provide Council with a financial statement each year for the Development Charges (DC), Community Benefits Charges (CBC), and Cash-in-Lieu (CIL) of Parkland Reserve Funds as of December 31, 2024.
Section 43 of the DCA requires that the Treasurer of a municipality provide to Council an annual financial statement for activities relating to the DC by-law and reserve funds established under section 33 of the DCA, and a listing of DC/Lot Levy credits.
Subsection 37 (48) of the Planning Act, 1990 states that a council of a municipality that passes
a CBC by-law shall provide an annual financial statement of the CBC transactions in the
preceding year. These reserve funds are established as the Public Benefits Reserve Fund and CBC Reserve Fund, respectively.
Additionally, subsection 42 (17) of the Planning Act, 1990 sets out that if a council of a municipality that passes a Parkland Conveyance by-law, the Treasurer must provide Council
with an annual financial statement for activities related to its CIL of Parkland reserve funds.
Collectively, these three charges are known as growth funding tools. They are collected to fund new infrastructure needed to service the requirements brought about by new developments. These revenues can only be used for the purposes for which it was collected, in compliance with the legislation and Council approved policies.
Growth funding tools are important revenue tools for municipalities so that existing property
FIN 18-25 November 24, 2025
Page 2
owners are not unduly burdened by the cost of growth-related infrastructure.
Attachment 1 provides details of the activity of the Development Charges Reserve Fund for the year ended December 31, 2024, in the manner prescribed by section 43(2)(a) of the DCA. Attachment 2 provides details on information related to projects funded by the development
charges as stipulated by section 43(2) (b) of the amended DCA.
Attachment 3 is the Treasurer’s Statement attesting to the fact that no additional levies have
been collected by the City beyond those allowed under existing legislation as per Section 59.1 (1) of the DCA.
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/Customer Service Excellence.
Financial Implications: As presented in Table 1, DC revenue of $17.7 million was collected
in 2024 with an additional $6.1 million in interest earned. An additional $3.2 million was
transferred in to make DC reserves whole resulting from the phasing-in of rates introduced through Bill 23 - The More Homes Built Faster Act, 2022. In-year transfers to capital projects amounted to $8.8 million, with most of it - 67% or $5.8 million being for Parks and Recreation development projects.
The closing balance (after commitments) of the DC Reserve Fund as of December 31, 2024
was $15.2 million, which represents a decrease of $100 million, year-over-year. The decrease in the reserve fund balance was mainly due to higher-than-average commitments related to projects in Fire Protection, Transportation and Parks and Recreation service categories. The three major projects are:
1. Fire Station Headquarters in Seaton;
2. Dorsay Community & Heritage Centre; and
3. Seaton Recreation Community Centre & Library.
FIN 18-25 November 24, 2025
Page 3
1 Funding of DC revenue loss due to Bill 23
Attachment 1 provides a breakdown of the various DC service categories. A few of the service categories are in a negative position - this is normal as the infrastructure required to service
growth needs to be emplaced prior to developments happening and the negative balances will
be recovered through DC fees collected from current and future growth-related activity.
The Treasurer’s Statement for Parkland, Public Benefits and Community Benefit charges Reserve Funds as required under the Planning Act is as follows:
Amount
Opening Balance - January 1, 2024 $115,246,949
Collections $17,693,619
Investments/Other $6,069,108
Bill 23 Top-up1 $3,258,746
Use of Funds ($8,775,167)
Balance before commitments $133,493,255
Budget Commitments ($118,266,208)
Balance after Commitments - December 31, 2024 $15,227,048
2024
Table 1 - Development Charges Reserve Fund
Parkland ($) Public Benefits ($)Community Benefit
Charges ($)
Opening Balance January 1, 2024 5,888,286 279,779 462,053
Revenues
Developer/Third Party Contributions 1,130,872 0 0
Interest Income 312,351 13,782 24,654
Total Revenue 1,443,223 13,782 24,654
Expenses
Transfers to Capital & Operating Fund (985,196)0 (226,645)
Net Change for the Current Year 458,027 13,782 (201,991)
Balance before commitments 6,346,313 293,561 260,063
Budget Commitments 2023 & Prior (1,594,840)0 (411,438)
Balance after commitments - December 31, 2025 4,751,473 293,561 (151,376)
Table 2 - Cash in lieu of Parkland and Community Benefit Charges
FIN 18-25 November 24, 2025
Page 4
The CBC framework, introduced through Bill 197 – COVID-19 Economic Recovery Act, 2020, replaced the former Section 37 density bonusing provisions of the Planning Act. The CBC allows municipalities to levy up to 4 percent of land value (as of the day before building-permit issuance) on higher-density developments - those with five or more storeys and ten or more
units.
In 2024, there were no CBC collections, reflecting no qualifying projects. Interest earnings of $24,654 was credited to the reserve and $226,645 was transferred to fund Pickering Heritage Community Centre project.
The remaining balance from the legacy Public Benefits Reserve Fund has been committed to
park-related capital works and will be fully drawn down upon project completion.
The (CIL of Parkland reserve, established under Section 42 of the Planning Act, continues to provide dedicated funding for parkland acquisition and improvement. CIL receipts in 2024 totaled $1.1 million, with interest earnings of $312,351 and expenditures of $985,196 towards various City-wide park enhancements and parkland acquisitions.
Together, these two funding tools ensure that as development intensifies, the supporting
community infrastructure and public-realm amenities are adequately provided.
There are no outstanding lot-levies or DC Credits carried over from the previous legislation.
Discussion: The purpose of this report is to provide an update on the legislated Reserve Funds as of December 31, 2024. 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 reserve fund balance of $133.4 million (before commitments) represented in Attachment 1 is the unspent balance as at December 31, 2024. There is approximately $118.2 million of committed capital projects that have been approved but have not proceeded or are still ongoing as of December 31, 2024. Of these commitments, approximately $68 million or 51
percent relate to the Parks and Recreation - which include high profile projects like Dorsay Community & Heritage Centre and Seaton Recreation Complex & Library. The other high value projects include Fire Station # 1 and Walnut Lane extension. 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. The total projected net surplus position after all budget expenditures and commitments was $15.2 million for the year-ended December 31, 2024.
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.
FIN 18-25 November 24, 2025
Page 5
Attachments:
1. 2024 Statement of the Treasurer – Development Charges Reserve Fund2. Amount Transferred to Assets – Capital & Current Funds Transactions
3.Statement of Compliance
Prepared By: Approved/Endorsed By:
Raghu Kumar, CPA, CMA Stan Karwowski, CPA, CMA, MBA Senior Financial Analyst Director, Finance & Treasurer Development Charges & Capital Management
RK:sk
Original Signed By:Original Signed By:
Recommended for the consideration
of Pickering City Council
Original Signed By:
Marisa Carpino, M.A. Chief Administrative Officer
City of Pickering
Attachment 1 to Report FIN 18-25
Annual Treasurer’s Statement - Development Charges Reserve Fund DC Act S 43 (2)(a)
For the year ended December 31, 2024
Notes
Services to which the Development Charges Relates
Account 8601/8043 8602/8044 8603/8045 8604/8046 8605/8047 8606/8048 8607/8049 8608/8050
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, 2024 2,999,933 39,003,784 (721,274)4,970,794 (1,328,829)59,297,265 10,914,839 110,436 115,246,949
Plus:
Development Charges Collections 1,081,107 3,627,199 663,147 410,504 218,655 9,820,419 1,793,972 78,615 17,693,619
Bill 23 Top Up 193,904 968,676 104,575 67,076 55,018 1,587,821 276,090 5,586 3,258,746
Interest Income-Internal Investment 2,721 35,372 - 4,508 - 53,776 9,899 100 106,375
Interest Income-Negative Balance 1,847 24,020 (24,336) 3,061 (47,900) 36,518 6,722 68 0
Interest Income -External Investment 139,249 2,062,226 - 256,234 - 3,055,545 562,903 5,258 6,081,416
Less: Admin Fee (2,883) (40,629)0 (5,090)0 (59,108)(10,880)(93) (118,683)
Sub-Total 1,415,945 6,676,864 743,386 736,293 225,773 14,494,971 2,638,706 89,534 27,021,473
Less:
2024 Transfer to Capital Funds 1 (164,422) (62,049) (200,879) (16,716)0 (5,502,599) (1,182,755) (31,981) (7,161,402)
2024 Transfer to Current Funds 1 (614,650)3 0 (422,223)3 (697) (170,666)(376,033)3 (29,496)0 (1,613,765)
Sub-Total 2024 (779,072) (62,049) (623,103) (17,413) (170,666) (5,878,632) (1,212,251) (31,981) (8,775,167)
Closing Balance, December 31,
2024 before Budget Commitments 3,636,807 45,618,599 (600,990)5,689,674 (1,273,722)67,913,604 12,341,294 167,989 133,493,255
Less Budget Commitments 2 (637,224) (17,932,394) (3,654,107) (3,579,651) (654,886) (66,209,176) (6,408,925) (2,870,006) (101,946,370)
Less Debt Charges Commitments 4 (7,556,624)- (5,360,980)- - (3,387,684)- - (16,305,287)
Sub-Total Budget Commitments (8,193,848) (17,932,394) (9,015,087) (3,579,651) (654,886) (69,596,860) (6,408,925) (2,870,006) (118,251,657)
Closing Balance, December 31, 2024 after Budget Commitments-(Deficit)(4,557,041) 27,686,205 (9,616,077) 2,110,023 (1,928,608) (1,683,255) 5,932,368 (2,702,017) 15,241,599
Notes
1. See Attachment 2 for detailed breakdown.
2. Budget commitments include capital projects previously approved, but have not proceeded or still ongoing. 2024 & Prior Commitments.
3. Annual principal & interest payment related DC debenture financing
4. Includes outstanding principal & interest payments related to DC debenture financing
1. See Attachment 2 for detailed breakdown.
2.Budget commitments include capital projects previously approved, but have not proceeded or still ongoing. 2024 & Prior Commitments.
3.Annual principal & interest payment related DC debenture financing
4.Includes outstanding principal & interest payments related to DC debenture financing
City of Pickering
Amount Transferred to Assets - Capital & Current Fund Transactions
For the year ended December 31, 2024
Attachment 2 to Report FIN 18-25
DC Act S 43 (2)(b)
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
2024
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 1,537,906 0 418,594 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 495,488 292,226 39,461 0 163,799 495,487
Northeast Pickering OPA - Background studies 10105-502230 566,053 117,917 17,292 28,946 401,898 Third Party Contribu 566,053
Facilities Renewal Plan 10325-502230 50,066 18775 6,258 25,033 R-DC City's Share 50,066
DC/CBC Study 10105-DC/CBC 90,000 0 28,738 61,262 90,000
Official Plan Review Background Study 10105-502230 407,788 0 78,916 146,084 182,788 407,788
Sub-total Studies 6,609,395 1,966,824 170,666 654,886 1,768,533 -346,587 1,701,898 6,609,395
Fire Protection Services
Seaton- New Fire Hall-Site Preparation, Other Construction RC10700.1601 1,066,290 334,813 992 528,848 201,637 R-DC City's Share 1,066,290
FS #1 New Fire Station & HQ (Seaton) Bunker Gear & BreathC10700.2201 169,000 80,581 0 88,419 169,000
Seaton FS#1- New Fire Station & H.Q.Re-design - Design andC10700.2007 622,213 369,885 136,509 19,956 95,862 R-DC City's Share 622,213
FS #1 New Fire Station & HQ (Seaton) - Construction DC Deb11100 8,136,830 873,500 403,855 6,859,475 2 8,136,830
Fire Master Plan 10700 -502230 94,983 30,751 40,486 0 23,745 94,982
FS #1 New Fire Station & HQ (Seaton) - FF&E C10700.2107 355,660 224,894 21,116 0 109,650 RF - Seaton Land Grp FIA 355,660
Aerial Ladder Truck for Seaton (FS1)C10700.1903 1,504,193 1,461,084 5,805 37,304 RF - Seaton Land Grp FIA 1,504,193
Seaton North FS - Land (Debt charges)11100 1,166,324 352,467 116,709 697,149 2 1,166,324
10700 - Equipment for 4 Firefighters 53,600 53,600 53,600
Sub-total Fire Services
By-Law Enforcement Services
13,169,092 3,727,975 779,072 8,193,848 444,453
RF - Animal Shelter & R-City's
23,745 0 13,169,092
Animal Shelter - Design & Construction C10430.2101 9,739,000 38,242 31,981 2,870,005 3,429,292 Share 3,369,480 Debt 15‐Yr 9,739,000
Sub-total By-Law Enforcement Services 9,739,000 38,242 31,981 2,870,005 3,429,292 0 3,369,480 9,739,000
Transportation
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 (rel C10575.1801 10,024,088 337,597 5,225 7,260,950 2,420,316 R-DC City's Share 10,024,088
DH-4 Valley Farm Road - Road Oversizing - DH-4 Valley FarmC10575.1804 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 - SandC10575.1904 2,000,000 -0 1,000,000 1,000,000 R-DC City's Share 2,000,000
City of Pickering
Amount Transferred to Assets - Capital & Current Fund Transactions DC Act S 43 (2)(b)
For the year ended December 31, 2024
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
2024
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 26,002 0 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 2,053,848 0 133,778 700,000 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 5,949,300 -47,153 3,705,797
4 2,196,350 R-DC City's Share 5,949,300
Sidewalks W0-2,WO-10 Kingston Rd & Altona C10515.1603 294,262 128,979 4,023 14,129 147,131 R-DC City's Share 294,262
1 Ton Dump Truck with Aluminum Body, Plow and Salter - NeC10315.2113 273,142 -0 273,142 273,142
Scarborough/Pickering Townline Road Reconstruction - FinchC10570.2207 1,005,300 10,939 5,648 486,063 305,150 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 45,688,899 7,794,205 62,049 17,932,393 15,331,073 0 4,569,178 45,688,899
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 1,446,300 333,222 16,716 11,636 1,084,725 R-DC City's Share 1,446,300
Installation of Oil Grit Separators - Installation of Oil Grit Separators C10575.1903 300,900 -0 85,310 215,590 R-DC City's Share 300,900
Krosno Creek Culvert Replacements & Erosion Control ConstructionC10575.1910 4,800,000 75,287 0 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 53,899 28,984 0 0 24,916 R-DC City's Share 53,899
2404-B-19 D Krosno Creek - SWM Facility C10575.2404 188,542 30,052 60,400 98,090 R-DC City's Share 188,542
Pine Creek Erosion Assessment Municipal Class EA Study 10510-502230 76,524 9,022 697 0 66,805 76,524
Sub-total Stormwater Management 9,495,565 476,567 17,413 3,579,651 5,355,129 9,495,565
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 261,727 107,774 12,339 115,441 0 26,173 261,726
4 Ton Dump Truck with Snow Plow & Wing C10315.2205 387,706 0 0 387,706 0 387,706
1 Ton Truck with Tailgate C10315.2306 100,440 0 100,440 0 0 100,440
1 Ton Dump Truck with Tailgate Lift C10315.2312 110,000 0 100,440 9,560 0 110,000
Northern Satellite Facility C10300.2404 528,000 528,000 528,000
Sidewalk Plow with Attachments - New C10305.2405 275,000 275,000 275,000
4 Ton Dump Truck w/ Snow Plow/Wing C10315.2406 450,000 450,000 450,000
4 Ton Dump Truck Roll-off Body - New C10315.2413 350,000 350,000 350,000
1 Ton Truck w/ Aluminum Dump Body (2)C10315.2415 330,000 330,000 330,000
Operations Centre-Debt Charges 61% of total debt charges 11100 8,279,058 2,508,194 409,885 5,360,980
2 0 8,279,058
Sub-total 12,280,331 2,615,968 623,103 9,015,087 0 12,280,330
City of Pickering
Amount Transferred to Assets - Capital & Current Fund Transactions DC Act S 43 (2)(b)
For the year ended December 31, 2024
DC Recoverable Cost Share Non - DC Recoverable Cost Share
Gross DC RF 5: DC RF 5: DC RF 5: Other
Capital Funded in Funded in Future Reserves/Re Type of Funds (R=Reserve, Property Other
Description Project Code Costs prior years 2024 Funding 1 serve Funds RF=Reserve Fund)Taxes Sources Type Total Funding
Parks & Recreation Services
Indoor Soccer Facility and Land - Design & Construction of IndC10220.1401 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
R-DC City's Share - 23,275
Duffin Heights Village Green (East)-New C10320.1708 490,000 5,670 0 453,555 30,775 Pakland Oblig - 7,500 490,000
Duffin Heights Neighbourhood Park Construction C10320.1808 695,000 19,666 3,259 596,200 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 1,469 672 192,664 27,195 RF-Parkland 222,000C10320.2023-2025,
2118, 2119,
2205,C10572.2401,24
Seaton Parks P-123, P-112, P-113, P-126, P-127, P-121, P-02,2411,2414,2415,24
131,P-132, P-104,P-124,P-125,P-105,P-106,P-107 16,2417,2418 15,042,700 -0 14,666,300
4 376,400 RF-Seaton FIA 15,042,700
Dorsay Community & Heritage Ctr (Design)-Community Ctr R-Rate Stabilization: $693K RF-DC Library component C10220.2011 1,503,779 186,889 2,764 9,130 753,943
4 RF-DC City's Share: $61K 551,052 Facilities 1,503,779
DCHC - Construction C10220.2011 58,239,550 61,353 3,069,977 23,418,770 2,608,400
4 RF-DC Library Facilities 29,081,050 Multiple Funding Sources 58,239,550
Rotary Frenchman's Bay West Park Waterfront Master Plan C10320.1912 2,730,487 1,217,746 10,188 137,309 1,365,244 R-DC City's Share 2,730,487
Rotary Frenchmans Bay West-Accessibility C10320.1913 1,426,819 706,310 2,539 4,562 713,409 R-DC City's Share 1,426,819Seaton Community Centre - Preliminary Planning,
Investigations & Design C10260.2101 18,150,000 23,453 528,609 17,208,598 389,341 RF-Seaton FIA 18,150,000
Skate Board Park - Community Size - Design & Construction C10320.2134 920,000 2,798 763 456,438 460,000 R-DC City's Share 920,000
Operations Centre - DC Debt Charges, 39% of total debt
charges 11100 5,252,275 1,602,534 262,058 3,387,684
2 0 -5,252,275
C10305.2306,
C10320.2316, 2321-
2323,
Various Growth Park Vehicles 2404,2406,2421,2424 979,557 -759,556 220,000 979,556
C10320.2303- Creekside Park – Expansion C10320.2303 110,000 -63,726 43,474 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
Beachfront Park MP Detailed Design C10320.2206 10,600,000 971,500 4,078,500 500,000 RF- Parkland Oblig Fund 5,050,000 Casino Reserves 10,600,000
C10320.2318-Tennis/Pickleball Court-ShadybrookPark C10320.2318 400,000 1,196 62,962 35,842 300,000 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
C10300.2404 - Northern Satellite Facility C10300.2404 352,000 0 352,000 352,000
10200 - Parks & Rec Masterplan (2023)10200-502230 210,497 47,222 113,975 0 49,300 210,497
WaterfrntTrail WestShore/Marksbury Des C10572.2404 75,000 13,370 24,130 37,500 75,000
GeraniumHomes - Claremont Park C10572.2405 2,271,200 0 2,214,400 56,800 R-DC City's Share 2,271,200
NewGravelParkingLot-Alex RobertsonPark C10572.2408 200,400 12,713 87,487 100,200 R-DC City's Share 200,400
City of Pickering
Amount Transferred to Assets - Capital & Current Fund Transactions DC Act S 43 (2)(b)
For the year ended December 31, 2024
DC Recoverable Cost Share Non - DC Recoverable Cost Share
Gross DC RF 5: DC RF 5: DC RF 5: Other
Capital Funded in Funded in Future Reserves/Re Type of Funds (R=Reserve, Property Other
Description Project Code Costs prior years 2024 Funding 1 serve Funds RF=Reserve Fund)Taxes Sources Type Total Funding
City Centre Park C10572.2409 1,500,000 0 750,000 750,000 R - Casino Reserves 1,500,000
000 0
129,887,869 7,245,892 5,878,632 69,596,860 8,663,482 86,901 38,416,102 129,887,869
C10220.2011 0 531,914 7,868 11,269
3 (551,051)3 RF-DC Library Facilities 0
C10220.2011 0 15,952 921,956 1,670,492
3 (2,608,400)3 RF-DC Library Facilities 0
C10900.2109 220,000 79,130 101,828 17,043 22,000 R-Vehicle Replacement 220,000
RF-DC Parks & Rec - 220,000
C10905.2101 5,195,000 -151,103 4,710,122 333,775 RF - Seaton FIA - 113,775 5,195,000
Sub-total
Library Facilities & Materials
Dorsay Community & Heritage Centre (Design)-Archive
Facility component
DCHC Archives & Library Space - Construction
Outreach Vehicle
Seaton Regional Library
Library Strategic Plan 10900-502230 102,269 46,523 29,496 0 26,250 102,269
Sub-total 5,517,269 673,519 1,212,251 6,408,925 (2,803,676)0 5,517,269
Grand Total 232,387,419 24,539,191 8,775,167 118,251,656 32,188,286 516,847 48,056,658 232,327,805
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, combination of multiple projects.
5 Development Charges Reserve Fund (DC RF)
Attachment 3 to Report FIN 18-25
Statement of Compliance
The City has not imposed additional levies in accordance with Subsection 59.1 (1) of the
Development Charges Act, 1997.
___________________________ Stan Karwowski, MBA, CPA, CMA
Director, Finance & Treasurer
City of Pickering