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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 i00 ^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 .~. ?FA CHMEN'F #_,9=_TO REPORT # r_'<; n'~,, ~ cf 0 0 ~.. g i01 ~'~0 E E O0 O0 .0 '-- ~) ~) ~ E~ oo · r-'r- (D (D ,','- ~>~> ~'~ ~ .- · ~E'~E '~E · 0 ~0 ~0 X x .E 0 0 0 0 00000000 00000000 00000000 00000~ 0000000 0000000 0000000 0000000 ~00~00 Z ~ ZZ w< zww 0000000 000~000 000~00 000~00 ~00~00 I.- Z UJ Z Z 0 ~000~0 ~0~00~ 0000000 ~00~ ~zzao w 0 O< oZo~m Oz~ ~ooooo WWW~WWW OO~Q~g~ ~>>>>> 00000 EEEEEEE ZZZZZZZ 0 I-- Z U,J > z z 0 E LIJ I-- Z 0 ATTACHMENT# , o o co ~.- ,~- ~o co~ co o .o E E 0 Z !93 4/_ TO REPORT ATTACHMENT #~TO REPORT ~.~,S 7 -,~ ~ 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 I (D ATTACH H ENT :/:/:_.~TO REPORT # ~.~.~ - ,~ ~ ATTACHMENT # ? TO P%EPOfl, T #.,~,.s,,.,'7',,0 ~ C) C) I