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HomeMy WebLinkAboutCS 64-05PICKERING REPORT TO EXECUTIVE COMMITTEE Report Number: CS 64-05 Date: September 1, 2005 From: Gillis A. Paterson Director, Corporate Services & Treasurer Subject: Cash Position Report as at June 30, 2005 Recommendation: It is recommended that Report CS 64-05 from the Director, Treasurer be received for information. 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 June 30, 2005. Financial Implications: The cash position of the Corporation for three months ended June 30, 2005 was a net decrease in cash of $2,603,847 to $1,331,796. Sources of Funds totalled $46,350,917 and Use of Funds totalled $50,954,764. 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 second quarter of 2005. 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 April 1 to June 30, 2005 and provides the outstanding taxes receivable as at June 30, 2005. This balance represents all three levels of taxes billed, such as City, Region and School Boards. Outstanding Investments: Attachment 3 reflects the short-term and long-term investments for both the Current Fund and the Reserve Funds outstanding as at June 30, 2005. Report CS 64-05 Subject: Cash Position Report as at June 30, 2005 Date: September 1,2005 Page 2 Development Charges 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 $679,505 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 - Jun. 30, 2005 Building Permits Issued 2000 - Jun. 30, 2005 City Portion of Development Charges Collected 1991-2004 Prepared By: Approved / Endorsed By: Avril Payne Audit Analyst Director, Corporate Services & Treasurer Attachments Copy: Chief Administrative Officer Recommended for the consideration of ~Pi.~c ko rin g,~ity~ ~ 7/~ T~s J. Qd~n, C~TAdminis a~ve Offer ATTACHHENTC¢ I TOP, EPOP, T#_es~ City of Pickering Cash Position Statement for three months ending June 30, 2005 Sources of Funds: Accounts Receivable collected $ 145,312 Development charges collected 679,505 Operating 14,124,671 Grants-in-lieu: Federal 346,746 Provincial Ontario enterprises 1,729,367 Municipal enterprises 330,169 Linear Properties 39,481 Federal specific grants 3,176 Ontario specific grants 198,909 Interest Income 456,702 Sale of land - Tax payments received 30,052,095 POA Revenue 244,784 Total $ 48,350,917 Use of Funds: Operating and Capital Expenditures $ 15,601,998 Payroll 6,698,108 Region Levy 16,397,601 Regional portion of Dev. Charges 226,750 School Board Levies 10,669,797 School Board portion of Dev. Charges 23,310 Debenture payment to Region 126,780 APTA Funding 1,210,420 Total $ 50,954,764 Net Cash Increase (Decrease) $ (2,603,847) FINANCIAL POSITION Bank Balance Net Cash Bank Balance April 1, 2005 Provided (Used) June 30, 2005 Current Fund $ 3,935,643 $ (2,603,847) $ 1,331,796 TOTAL $ 3,935,643 $ (2,603,847) $ 1,331,796 Note: Includes City, Region and School Boards Cash Position second quarter 2005.xIsNET CHANGES o o .C 0 '0 C~ 0 o I TO REPORT # ~.~/~,os ~, ~,M.~.,.~. ~~TO' REPORT# 000000000 000000000 000000000 ~00~ 0000 0000 0000 0000 0000 0000 0000 0000 Z~ZZZ >~ZZ Z Z~ZZZ ZZZ m~mmm ~mmm 0000 0~00 oo~ ~~ ~~ o~o 0~ 0~0 0~0~ 0~0 ~~ 0~0 0000 000~ ~~ ~0~0 oooo 0 000 0 O0 OZZZ Z~ZZ oooo o~0o ~< < < < ~,, ,, ,, m m m ~000 0~00 v' ~,~ ~f ¥ LLI W LLI LU ~.1 C~ IJJ W ~mmm~mm~ ~ ~ 0 z zz _z ~:z_z Eik'mk'--t-w--k'"' ~~ _>0>> ~rrmm_mrrm_m___m ~'000 ua. O0 Z UJ Z UJ Z o -J .J o 0 o !-, Z ::3 0 ^TTACHMENT#__~ TO REPORT City of Pickering Other Development Contributions For three months ending June 30, 2005 CONTRIBUTIONS: Cash - In - Lieu of Parkland TOTAL CASH-IN-LIEU OF PARKLAND $194,371 $194,371 Cash Position second quarter 2005.xlsOther Dev. Contrbtns ,..~t~i~CHMEN¥# ~ TOREPORT# c..g~5.~z/ ATTACHMENT#