Loading...
HomeMy WebLinkAboutCS 13-07 CiuJ 0# REPORT TO COUNCIL Report Number: CS 13-07 Date: March 19, 2007 From: Gillis A. Paterson Director, Corporate Services & Treasurer Subject: Cash Position Report as at December 31,2006 Recommendation: That Report CS 13-07 from the Director, Corporate Services & Treasurer be received for information. 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 six months ended December 31,2006. Financial Implications: The cash position of the Corporation for six months ended December 31, 2006 was a net decrease in cash of $1,116,987 to $2,762,822. Sources of Funds totalled $115,201,606 and Use of Funds totalled $116,318,593. Background: This report presents a six-month period of activity ending December 31,2006. 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 half of 2006. Subcategories have been identified to highlight those cash transactions that are significant in nature or large dollar value transactions for the City of Pickering. This schedule summarizes the decrease in cash of $1,116,987 over last six months. The 2006 year end balance is approximately $220,000 more than 2005. Year to year periodical comparisons may not be useful due to timing of receipts and disbursements. In addition, year end cash balances are set to meet cash flow requirements early in the following year. Continuity of Taxes Receivable: Attachment 2 summarizes the tax related transactions from July 1 to December 31, 2006 and provides the outstanding taxes receivable as at December 31, 2006. This balance represents all three levels of taxes billed, such as City, Region and School Boards. Year end amount receivable has increased over the Report CS 13-07 Date: March 19,2007 Subject: Cash Position Report as at December 31,2006 Page 2 C. ~ . ;J' t past several years but may vary where due dates and amounts for supplementary billings change from year to year. Arrears for the current year of $6.0 million is approximately 4.2% of the $143.4 million total taxes billed in 2006. Total outstanding balance of $11.8 million is approximately 8.2% of the $143.4 million total taxes billed in 2006. The 2006 year end balance is approximately $1.0 million higher than 2005. Municipal budgetary increases have translated into higher taxes billed which in turn resulted in an increase in property taxes receivable. Outstandinq Investments: Attachment 3 reflects the short-term and long-term investments for both the Current Fund and the Reserve Funds outstanding as at December 31, 2006. There has been a steady increase in investments over the past few years primarily as a msult of excess funds that are on hand due to pending assessment appeal and timing of collection and remittance of development charges and supplementary taxes. The year end investment portfolio balance of $51.1 million plus internal loan of $5.1 million for a total of $56.2 million is up from $48.9 million in 2005 and $41.1 million in 2004. 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 $1,150,473 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. The balance of the tables shows multi year receipts. 2006 collections of the City portion of development charges are up over 2005 but are significantly lower than in prior years. This decline in collections reflects the minimal growth the City experiences. In addition, building permits issued decreased by 34 units from 610 in 2005 to 576 in 2006 resulting in an equivalent decrease in revenue. Report CS 13-07 DatE3: March 19,2007 Subject: Cash Position Report as at December 31, 2006 L-\ ~ /' ; V":t Attachments: Page 3 1 . Statement of Cash Position 2. Continuity of Taxes Receivable 3. Outstanding Investments 4. Statement of Development Charges Collected 5. Other Development Contributions 6. City Portion of Development Charges Collected 2003 - 2006 7. Building Permits Issued 2000 - 2006 8. City Portion of Development Charges Collected 1991-2006 Prepared By: Approved I Endorsed By: iJ /1" d!I~ {'n jJ. (,p..fd~-tI?L-- Dennis P. Arboleda Supervisor, Accounting Services o#,.....':~..,.""::~:.} ~"""':I'"....<,j ..~/ /;."., ....,..;;,..':....-...."'-..."<. _~:::._~t~.;~~::?"'"""'"~:...... Gillis A. Paterson Director, Corporate Services & Treasurer GAP:da Attachments Copy: Chief Administrative Officer Recommended for the consideration of Pickering City Counc"J / ,",,- .....,.._.....'m""./~./ :/ / /,(/' .,' T!)6in~"J. Quinn, I MR. C Chief Administrative Officer , ' it 1.._."",7"0 REPORT # C'S..(~-07 City of Pickering Cash Position Statement for six months ending December 31, 2006 n ,.. \...' ~ Sources of Funds: Accounts Receivable collected $ 544,988 Development charges collected 1,150,473 Operating 29,093,508 Grants-in-lieu: Federal 1 ,669,539 Provincial 1,557,123 Ontario enterprises 5,690,963 Municipal enterprises 1,356,324 Linear Properties 1,704,639 Federal specific grants 24,099 Ontario specific grants 159,786 Interest Income 1,383,322 Sale of land - Tax payments received 70,866,842 POA Revenue - Total $ 115,201,606 Use of Funds: Operating and Capital Expenditures $ 40,658,176 Payroll 14,373,076 Region Levy 39,067,337 Regional portion of Dev. Charges 666,045 School Board Levies 20,302,007 School Board portion of Dev. Charges 78,995 Debenture payment to Region 1,039,619 APTA Funding 133,338 Total $ 116,318,593 Net Cash Increase (Decrease) $ (1,116,987) FINANCIAL POSITION Bank Balance Net Cash Bank Balance July 1,2006 Provided (Used) December 31, 2006 Current Fund $ 3,879,809 $ (1,116,987) $ 2,762,822 TOTAL $ 3,879,809 $ (1,116,987) $ 2,762,822 J Note: Includes City, Region and School Boards Cash Position 2nd half 2006NET CHANGES C) CD CO c ::s 0 'I: ~ 0 CD N ~ 'G) ,~ '("" 0 M Q. CD - tr: U 0 In CD ~ CD C >< C) 0 ~ C - 'C 0 C ~ CD ~ In :::I .c C - :i:l C C 0 0 E 0 CD e .c - '- .E \ ... t'" .I\J V '<:t CO 1.0 ...... co 0) CO I 00 0 0) C\l CO ...... ...... ...... ...... CO q 1.0 0_ q co_ 1.0 en CD Cp cO C\l u) ...... C\l ('t) cO ...: 1.0 C\l CO ...... 0) ...... 0 N 0 :a 0)_ ('t) N.. ('t) N.. ...... 1.0 ~ - ca .... 1.0 C\l ...... ...... .... ('I) > fA- .... U 'ii) U Cp Cp C 0::: ........ ........ ........ ........ (0 ........ ........ <0 "0 1.0 0) CO ...... C\l ('t) .11 ...... ...... C\l 0) ...... '<:t CO .... C ...... 0 q ('t) C\l ...... 0 .... ca c Iii c<i c<i u) ~ N III Cp CO 0 E ('t) 0 0 ...... ...... t::- ...... CD ... ...... C\l CO ...... ...... - N C ... fA- ~ - -- - 00 Cp III E ::s N N >0 ~ - - ca D. ........ ........ ........ ........ - C\l 0) CO '<:t N ~ ('t) 0 0 1.0 0 CO_ q C":t '<:t_ CD )( 0 CO 0 CO 0 .n ca Cp fA- 1.0 C\l ~ N 00 I- ... '<:t ...... ::t- q, 'i: - - .... 3= - 0 ('t) ('t) CD ~ CO ('t) ...... CD "0 '<:t 0 ...... CD ca ~ Iii ai N eD ... c 0 0 1.0 CD Cp in ...... ...... 00 E III fA- Cp Q. Cp )( Q, ca ::s I- U) 0 III "0 Cp ~ fA- )( ca in I- "0 '<:t 0 0) ('t) ...... "0 Cp 0 ('t) '<:t CO CD C "0 '<:t_ ('t) q N.. 0 ca ~ ...... c<i '<:t ('t) 00 >0 C\l 0 '<:t ('t) 0 ... ... fA- ('t) ...... It) iii III C Cp a.. Cp Cp D. ... .5 0 ...... CO C\l 0 C\l 0) N 1.0 N ('t) CD Cp ('t) ...... 1.0 '<:t "t ...... C\l CD 0 :a ...... cO ..- 0) ~ en - CO ai - 0) o:i 0 0 ca '<:t ...... ..- ('t) 0 ('I) > CO 0) CO N <;t_ O ..- 0 'ii) fh N ..- N ('t) C\l 0) 00 +ol ..- ..- ai' Q, U ('t) Cp Cp ('I) U) Q: ..... en ~ Q) ..... ..... ..... ..... .!: en en en Q) ~ ~ "'0 lo- e Q) Q) 2 co ..... ..... .E: .E: .E: >. ..... "'0 "'0 "'0 ro lo- e e e e co co co co ~ Q) Q) .C; .e;- II 0- >- co ui ..... en co en co en co Q) ..J e Q) e Q) e Q) e >- Q) ~ ~ x Q) 1.0 X Q) <;t x Q) l0- X co co ~o.. co lo- I- 0.. 0 I- 0.. 0 0 I- 0 :J 0 0 '':; 0 C\l N 0.. I- ( ,ph ;J en CD en ...: ...... ('I) M '<:t .... fA- CD CD o 0 ~~~ ......~~ ...: N ~N =2~=2 Q,a..Q, <cCP<C ~.c~CD ......E......g NSNN ~~(';-M caU)ca.... 2 ~ 2 ~ .c.......c.c .f >o.fs _"S_U E"").~ ~ .- ::::'" '- - a.. ca CP ca Sc"'c .5u:gu: -- - III 'E ca o co '0 o .c U U) "0 C ca C .S! C) CP 0::: C) c :.a ::s '0 .5 CD o o N C "0 CP 'S; CP ..J III CP X ca I- iii ... o I- -.:.:iiiiii .!!! .!!! '(3 '(3 c:"E~:; -8-8EE .;.; E E CP CP 0 0 0:::0:::00 III CP ... ca "0 CP ::s "0 ... C CP .5 iii ... III C )( ca I- CD o o N # J:~__J.3 -" 7 It) .... a.. CP .c E CP U CP C ~ o ('I) a.. CP .c E CP > o z a) N a.. CP .c E CP ~ Z a.. CP "0 C ::s .11 c CP E ... III ::s ...... "0 ca "0 ~ o a.. Q, Q, ca '(3 c ::s o o "0 C ca III C o '; '(3 CP C "0 a.. ca o co ;: CP 'S; CP 0::: ... c CP E III III CP III :l .... ('I) a.. CP .c o t) o o ('I) a.. CP .c o ... U o ... c . CP.... Eg CPN E...: ~~ -- o III III .e. CP U ... .- ::s c c ::s .- :iE ~CP 1II.c ...... u- CP 0 ;0::00 CPIt) a.. ('I) ~~ 0...... cplt) ...('1) 'i: C 3= .S! ... )( U ca Cp I-u) III Cp ... ca "0 Cp ::s "0 )( ca I- ~ III ... C Cp E Cp Q. Q, ::s U) CD o o N C) en CD ceo 'c Q) 0 ~ E ('II .~ 1ii M D. ~ '- '0 c ~ ~ C) E .- c Q) U "C ~ C C III .... 1ii III .... en :J III o _ I: ltl 0 'u ;; I: ::l ca~ 1:- ._ III u...= 'O~ Gl .;:: E B ltl Gl Zl/) ->. Ill_ Gl .;:: ::l ::l iiilO >:E III >. ltll/) ea o '"' -Gl 11I- GlJ:l .. ltl $i;' '=0.. iii- a, I: ._ ::l U 0 .5 e 0:< - III Gl Gl_ .. III $0:: .5 ~ -c: .e ::l ltl 100 :E Gl III ltl Gl .c:- u ltl :;0 0.. 0000000 0000000 0000000 0000000 0000000 ";ri~"":riolLO CO....O>C\I'<I"C\I("') .... OC\l 0.... 0>(0 riN"'N";riri 0000.....0>("')......... oolOoo~NO>oo OO.....C\I(OIOO>O OO("')COC\l....O>..... c.ci..t""':""':c.ci""':lri ooCOIOC\lO>OO> ("')00>....'<1"10(0 ~ri~....:"'o'" ("')....1OC\l0>'<I"("') C\I("')oo'<l" 10....0 ....co(').....ooo("') MLONo::lMN..t ....(')'<1".....00>0 COO>OoolO'<I"(",) Nololol"":a:Soi (,)O>(,)O>'<I"ooOl .... 0> C\l0> 000 10 ri ....- '" ....- '<1"- ri ri *-?f!.~?f!.?f!.?fe.cfi. CO.... co (0'<1"00 (0 'Y"""'Y"""~'lr"'""O"l"'"""'" ..t..t..t..t..t..t..t ...............(0............... 0000000 I I I I J I I C::C.Qlo...L...L-L. cocowCOc.coco -,-,u.:2<(:2:2 o..J-Nc.Oo<bcO (')0 00 (')OC\l COCO (0 (0 co co (0 0000000 >>>>0.00 o 0 0 0 w w w ZZZZOOOO I I I I I I I (')...............0>100> OOOOC\lOC\l LU I- o Z I- Z => o o (f) III (5 - Z 5i<(<(<(<(<(0<( eOO III III 00000000 'lij(f)OO(f)OO(f)(f) U) GlZOOOOZZZZ I- > 00 0:: 0:: 00 00 00 00 Z .5 w "C :E I: I- ::l U) u.. ~ Gl 2!: t::1II 11I11I 11I11I III Ul ~ E E E E E E E :E Gl ~ ~ ::l ~ ~ ~ ~ 0:: 0:: 00 00 00 00 00 00 co ~ ~~~~~~~~ ~ 5i~~~~~~~ o t::zzzzzzz :J: ::l U) 0 o o c:i o o N o N ..f N (fi ..... en en N N &0 en N (fi M o c:i ..... ..... uS o en M N (fi U) I- Z w :E I- U) W > 2!: :E 0:: w l- I- 0:: o :J: U) ...J ~ o I- U) I- Z w :E I- U) W > 2!: :E 0:: w l- e) Z o ...J 0000 0000 0000 0000 0000 ori",ri 10000000 C\I.....ooo ri";ri (fi iOmU1' .... .... .... ;::- C\I o fb>o.. LU (f)~~ o~ c<:llOeel eel eel .....!21O 0> 10 Nt'---"I"'"""I"'""'r" zC\lo::>-o:: =>~<(<(<( -'~e.e.e. ~-, ..J ~..J ..J ..J <(~<(<(<( => .<: => => => Z,2ZZZ ZcoZZZ 4=:24=4=4= ~]j~~~ ~]~~~ gM~~ oLONc.ci 000(0 010'<1"10 OcONO 100>0(') C\I.........O> ri";ri (fi ?f!.?f!.cf?'Cf!. 00010 00'<1" '<I" CO M..t..t..t (')00000> ....000 C: ~ > 6. ~ co 0 w -,:2Z(f) ~J,mJ, C\I"1"'"""I"'""'Y""" (')COCO(O 0000 I I I I COlOlOl ~ ~ ~ ~ -'<(<(<( I I I I .....C\IC\IC\I C\looo CI) - C Gl E - III Gl > .5 "C I: :::I u.. Q) t:: Q) CI) ~ c<:l - I: e .. :::I o I- I- ~Q~ 0::0::0:: 0..1-<(1- 0::<.')1-<.') 8~5~ I-(f)u..(f) -=>o=> 00 0 LUILUI 0::<(0<( 00~0 :2<(><( o::ZOZ <(<(0::<( u.0 a.. 0 III III C E ::; ~ 0000 ~::::::::::: :a:a:a:a III III Ul III W W W W ZZZZ III III C C .... .... ~ ~ 00 III .3. 00 00 00 00 00 0"; 0..... 10'<1" ri 00000 00000 00000 00000 00000 ggg<i~ ("')0 o 0> CO ";NN~ ~Si!) m "-"N"I"'""C\1 ....... 000<.')1- > o..LU=>O 0 2 ~o<(o Z :E eelc<:leeleel eel s:- ooN~~ ~ <( O::ZooO:: >- O(O<(=>LUo..~<( I!2e.::?.!::.~~e. l;;g}...J..J..J..J0::...J C\I_<(<(<(<(o..<( ;:-8~~~~~~ ..J~zzzZ..JZ I~<(<(<(<(<(<( .......- I . I I:J I 5.3~~~~Z~ ,",,~LULULULUZLU "",,,,,,OO(f) (f)(f)<((f) 000000'<1" 0(,)000'<l"~ OMOOON.... 0.....0001010 O....OOOOC\l OriOciONcO 00>000......... 10'<1"(')000>(0 ri ";NN~ ?fi?f-?f!.?f!.cf??f!.?f!. 00100000 C\lC\IOC\lIOIOO ..tLOM..t..t..t..t '<1".....0........000> ~9~.o"7"799 oro3Q)o.a.fO' 0:2-,u..4=4=:2 cnro~6~~~ C\I 0 C\I .... ,~. . '<1"1010(0 999.09 t) c c o~~~ m~~o C\lOC\l.... CO co co 000 I I I 0.10-10- 4=:2:2 ~cbm ....0 000 ii:ii:ii: ~~~ ZZZ 000 u.u..u. 000 LULULU 000 ZZZ >>> 000~0 0::0::0::_00 0..0..0..00:: 00 ii:ii: ~~ zz 00 u..u.. 00 LULU 00 ZZ >> 00 0::0:: 0..0.. III III III III III Ul III C E C C C C C :; :J :; :; :; :; :; 00000000000000 ::::::::::::::::::== :a:a:a:a:a:a:a III Ul III Ul III III Ul W W W W W W W ZZZZZZZ (fi o ~ ..... I/') en o co en co" N (fi U) I- Z w :E I- U) W > 2!: :E ex: w l- e) Z o ...J ...J ~ o I- o o c:i o o oS I/') co uS N #J;~_i~-() 7 U) I- Z w :E I- U) W > 2!: ...J ~ o I- o o c:i o o o co ~ ..... I/') (fi M ~ ..... N ..... ..: co co 0" I/') (fi J!l u Q) '0- .. 0.. iii - "Q. ltl o o - CI) - I: Q) E - CI) Q) > .5 iii I: .. Q) - .= '\ e l: '- (f) LU ."" i= t ii: => o LU (f) (0 o o C\I "- ro .c: u C C\I C g 'iij o a.. .r::. Ul co o l!? co w >. o .... '<I" E .... w I- o o en co M ..: en o 1/')" (fi '* o 10 .,; ..... co M -0 Q) >= C)" (Q C CIl 0 .- - 0 "UN ~.! ~ U-or- .- 0 M 0.0.. .... en CIl OCll.c ~C)E :!:: :; CIl O.c:U O~ 1: C) CIl C E'tJ CoC o CIl - en CIl.c: >- CIl C C 0 E >< 'w .. o .... 058 iij 'Olh I- U ='0 o .. ..c CU - 0 CUm O_lh E 0 cu 0 ..c..c .. u :;,cn o ~'C .. .. -cu .!!? 0 om E'Olh cu 0 ..c..c .. u 5cn E cu ..c .. :;, o 'l5lh c: o OJ CJ) 0:: c: o 1:: o o.lh III ->. - U o W I- o W ..J ..J o o I- Z ~ o :E <( '" r-- "'. LO 0:) ..- '" '" a. '" C\I C\I co. 0:) o co LO. co LO 0:) LO ..- r-: ..- ..- >. "S """') v v o r-: 0) C\I r-- r-- o r-: 0:) ..- ..- ci C\I 0) '" "'. '" r-- o ..- LO. co 0) ..- ..... en ::J OJ ::J <( LO 0:) 0:). o o C\I r-- o ~ co co C\I C\I C\I o N 0) LO C'1 C\I 0:) v r-- Lri co o r-- to o o 0) oj o ..- o LO 0). ..- o ..- LO ..- "!. '" 0:) C\I 0) LO Lri LO ..- .. CJ) .0 E Q) 15.. Q) C/) .... Q) .0 o U o ..- 0) q v r-- 0:) v '" C\I '" ~ '" '" 0:) a. C\I '" 0:) C\I 0:). co '" .... Q) .0 E Q) > o Z If '" r-- v to C\I ..- v r-- co co ..- 0) o o 0) to co '" 0:) 0) to LO .... Q) .0 E Q) () Q) o #- __C$,. (:g-() 7 M r-- v c:i It) ..- ..- M ..- It) uS ..- N 'I:t en uS 'I:t N M r-- c:i 'I:t 'I:t CD 00 N uS 'I:t CD ..J ~ o I- C) tn co C c 0 'i: 0 0 (l) ;:; N ~ ~ ~ (J .c 0r- a.. 'i: M - '- - C (l) 0 0 .c ~ (.) E - (l) (.) c (J (l) (l) E 0 c. C) 0 c (j) "C > C (l) (l) 0 tn '- ..c (l) - ..c c - 0 0 E ,~ tn '- J2 ~ M In an c:o (l) L6 an I'- ,... l~ ~ '0 c co :~ "C L- co c: D- III ,+- :.i2 0 ... ::l III a> c.. :.:; I ::::J C .~ .- '"j" en I c: Z ,r: "j" III J:: 0 co III i= 0 III :J () OJ Cii 52 ... 0 l- I-; Z .Q 0 ::::J () C/J ,L,TTACH I'll Ei...... i'J m~ (0 (l) (0 (l) (O~ (l) N N N ('II fh ~ III .lIl: ... 0 III :: a> c..> .~ .~ a> :c C/) ::::J III c.. ~ ::::J L- 0 ,~ s '"j" en g c: ''j" Z :0 J:: 0 ::l III i= D- III :J () OJ Cii 52 ... 0 l- I-; Z .Q 0 ::::J () C/J 0'1 ~ M oS 0'1 ~ III c: o ;l ::::J .Q 'L: ... c: o () ... c: G) E Q. o "ai > G) C ... G) J:: ... o :J W :J I Z '"j" ::I: en <( () ...J <( I- o I- cs 1~-1J7 III c :0 C5~ () > a> o L- a> J:: 6 (0 o o N ..... co .c "0 c N C o :;::; 'Cij o a. J:: III co () '""0 (l) ~ r.n r.n ~ r.n ~ .~ s ~ (l) ~O bIJO ~O .~ N '""0 ~ .~ ~ ~ \0 o o N I "'..-.2. ;tf~_~~J3-01 C6':' .1. ~ ~ Os J.. QJ ~ ~ o o o z t If v / / 1/ , \ \ "" ~ "" [> 1/ / 0000000000000000000 o~o~o~o~o~o~o~o~o~ ~~~~~~~~~~~~~NN~~ ~ o o N ~ o o N ~ o o N ~ o o N N o o N ~ o o N o o o N ~ o ~ o .~ 1:: o ~ o .~ u " 6 <'"'l.. l' - ~ . .. ~ (]) ~ U (]) ~ ~ o U rJl\O (])O bl)O ~C'I ...Q U ~ ~ (]) S ~ o ~ (]) > (]) Q ,.......1 0\ 0\ ,.......1 J' = o oJOOl 1:: o ~ C oJOOl u t 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ~ 0 0 ~ '" '" '" '" '" '" 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 It) 0 It) 0 It) 0 It) '" '" '" '" '" '" '" ~ ~ ~ N N ~ ~ :j.'.C::;S /3 -07 \0 o o N It) o o N ~ o o N ~ o o N N o o N ~ o o N o o o N 0'\ 0'\ 0'\ ~ 00 0'\ 0'\ ~ t- 0'\ 0'\ ~ \0 0'\ 0'\ ~ It) 0'\ 0'\ ~ ~ 0'\ 0'\ ~ ~ 0'\ 0\ ~ N 0\ 0'\ ~ ~ 0\ 0'\ ~