Loading...
HomeMy WebLinkAboutFIN 10-22Report to Council Report Number: FIN 10-22 Date: June 27, 2022 From: Stan Karwowski Director, Finance & Treasurer Subject: Annual Treasurer’s Statement Report – Summary of Activity for the Year Ended December 31, 2021 -File:F-4920-001 _____________________________________________________________________ Recommendation: 1.That Report FIN 10-22 of the Director, Finance & Treasurer entitled “Annual Treasurer’s Statement Report: Summary of Activity for the Year Ended December 31, 2021” as required by the Development Charges Act and Planning Act be received for information; and 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. Executive Summary: 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, 2021 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. 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. FIN 10-22 June 27, 2022 Subject: Annual Treasurer’s Statement Report – Summary of Activity Page 2 for the Year Ended December 31, 2021 _____________________________________________________________________ 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, this reserve fund was established as the Public Benefits Reserve Fund. 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. Financial Implications: During the three-year period from 2019 to 2021 development charges collected were approximately $7.39 million in 2019, $12.49 million in 2020 and $9.12 million in 2021. Although there was a 27 percent decrease compared to 2020 collections, the 2021 collection is in line with the 5 year average of $9.4 million from 2017 to 2021. With the City prioritizing intensification and growth in Seaton, collections are expected to increase in the coming years. The reserve fund remains at a healthy balance of approximately $77.1 million pending future use of funds for qualified projects. Attachment 1 provides a breakdown of the various DC service categories. Two of the service categories are in a negative position (before commitments) due to DC funding for the new Operations Centre and the new financial system. Negative balances will be addressed through DC fees collected from current growth related activity and through the next DC Study which is scheduled to be complete by July 2022 . For the next DC study, negative balances are treated as a cost that will be recovered through higher DC rates. The overall positions of the Development Charges Reserve Fund for the period of 2016 to 2021 is presented below. Development Charges Reserve Fund Summary – 2016 to 2021 2016 ($) 2017 ($) 2018 ($) 2019 ($) 2020 ($) 2021 ($) Opening Balance 40,941,619 43,318,105 48,100,585 58,789,415 62,598,255 69,376,247 Collections 3,567,372 5,311,744 13,033,850 7,386,544 12,492,201 9,118,065 Net Transactions incl. Use of Funds (1,190,886) (529,264) (2,345,021) (3,577,704) (5,714,209) (1,415,485) Ending Balance 43,318,105 48,100,585 58,789,415 62,598,255 69,376,247 77,078,827 Budget Commitments (13,722,103) (18,392,441) (19,089,535) (27,144,954) (36,469,498) (60,687,888) End Bal After Budget Commitments 29,596,002 29,708,144 39,699,880 35,453,301 32,906,749 16,390,939 * * If you include the City Centre project (approved in 2020) the ending balance commitment is in a deficit position ($72,873,181) FIN 10-22 June 27, 2022 Subject: Annual Treasurer’s Statement Report – Summary of Activity Page 3 for the Year Ended December 31, 2021 _____________________________________________________________________ As indicated in the above table, funds balances have been positive from 2015 to 2019. The City Centre project was introduced in 2020 with a DC funding commitment of approximately $90.1 million. If we exclude the City Centre project from the budget commitments, both the 2020 and 2021 DC fund balance would be in a net positive positon. The Treasurer’s Statement for the Parkland and Public Benefits Reserve Funds as required under the Planning Act is as follows: Public Parkland Benefits ($) ($) Open Balance January 1, 2021 8,321,222 301,209 Revenues Developer/Third Party Contributions 834,920 0 Interest Income 93,546 3,938 Total Revenue 928,466 3,938 Expenses Transfers to Capital Fund (686,335) (40,000) Net Change for the Current Year 242,130 (36,062) GL Bal. before commitments December 31, 2021 8,563,353 265,147 Budget Commitments 2021 & Prior (3,315,814) (265,147) Funds Balance after Budget Commitments 5,247,538 0 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 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 City is currently in the process of concluding our Community Benefits Charge Strategy and intends to have a by-law in place by Summer 2022. The CBC will replace the current Public Benefits Reserve Fund under Section 37 (increased density allocations). The residual funds remaining in the Public Benefits Reserve Fund have been committed to ongoing capital projects and the Reserve Fund will be closed upon completion of these projects. FIN 10-22 June 27, 2022 Subject: Annual Treasurer’s Statement Report – Summary of Activity Page 4 for the Year Ended December 31, 2021 _____________________________________________________________________ Discussion: 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 $77.1 million represented in Attachment 1 represents the unspent monies as at December 31, 2021. Please note that there are approximately $150.0 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 at December 31, 2021. Of the $150.0 million in commitments, approximately 69 percent or $103.3 million are related to the City Centre projects ($89.3 million) the Pickering Heritage Community Centre ($14.0 million). However, when you consider the 401 Bridge and Road Crossing project and its current estimated projected cost, 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 $19.9 million in outstanding debenture commitments across three service categories. These debenture commitments are for three capital projects: New Operations Centre ($10.8 million), construction of Fire Station #1 ($8.1 million) and purchase of land in north Seaton for a new Fire Station ($1.0 million). The terms of these debentures range from 10-years to 20-years, with the most recent debenture being for the construction of Fire Station #1 being undertaken in 2021. The total projected net deficit position after all budget expenditures, was approximately $72.9 million for the year-ended December 31, 2021. In order to meet the new 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: 1.2021 Statement of the Treasurer – Development Charges Reserve Fund (Pre- Audit) 2.Amount Transferred to Assets – Capital & Current Funds Transactions (Pre-Audit) FIN 10-22 June 27, 2022 Subject: Annual Treasurer’s Statement Report – Summary of Activity Page 5 for the Year Ended December 31, 2021 _____________________________________________________________________ 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 10-22 City of Pickering 2021 Statement of the Treasurer - Development Charges Reserve Fund - (Pre Audit) DC Act S 43 (2)(a) For the year ended December 31, 2021 Account Description Services to which the Development Charges Relates 8601 8602 8603 8604 8605 8606 8607 Protective Services Transportation Other Services Related to a Highway (Deficit) Storm Water Mgmt Studies (Deficit) Parks & Recreation Library: Facilities & Materials Total Opening Balance, January 1, 2021 Plus: Development Charges Collections Interest Income-Internal Investment Interest Income-Negative Balance Interest Income -External Investment Less Admin Fee $ 2,672,511 611,923 967 1,204 32,809 (2,715) $ 32,396,812 2,875,244 11,717 14,592 387,630 (32,907) $ (827,415) 299,502 - (12,016) - $ 3,781,297 195,768 1,368 1,703 45,176 (3,841) $ $ (1,464,379) 27,693,829 203,725 4,233,354 -10,016 (20,265) 12,474 -333,568 (28,130) $ 5,123,592 698,549 1,853 2,308 61,641 (5,204) $ 69,376,247 9,118,065 25,920 0 860,823 (72,798) Sub-Total 644,188 3,256,276 287,486 240,173 183,460 4,561,282 759,147 9,932,011 Less: 2021 Transfer to Capital Funds 1 2021 Transfer to Current Funds 1 (188,769) (193,439) 3 (727,772) - - (411,758) 3 (12,802) - (97,577) (114,293) (157,548) (263,255) 3 (62,218) - (1,203,431) (1,026,000) Sub-Total 2020 (382,208) (727,772) (411,758) (12,802) (255,125) (377,548) (62,218) (2,229,431) Closing Balance, December 31, 2021 before Budget Commitments 2,934,491 34,925,316 (951,687) 4,008,668 (1,536,044) 31,877,563 5,820,521 77,078,827 Less Budget Commitments 2 (2,725,770) (12,258,278) (515,772) (3,611,237) (853,866) (82,476,779) (27,630,960) (130,072,661) Less Debt Chrgs Commitments 4 (9,109,714) -(6,593,772) --(4,175,862) -(19,879,348) Sub-Total Budget Commitments (11,835,484) (12,258,278) (7,109,544) (3,611,237) (853,866) (86,652,641) (27,630,960) (149,952,009) Closing Balance, December 31, 2021 after Budget Commitments-(Deficit) (8,900,993) 22,667,038 (8,061,230) 397,431 (2,389,910) (54,775,077.25) (21,810,439) (72,873,181) Notes 1. See Attachment 2 for detailed breakdown. 2. Budget commitments include capital projects previously approved, but have not proceeded or still ongoing. 2021 & 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 City of Pickering Amount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit) For the year ended December 31, 2021 Attachment #2 to Report FIN 10-22 DC Act S 43 (2)(b) DC Recoverable Cost Share Non - DC Recoverable Cost Share Description Project Code Gross Capital Costs DC RF 6: DC RF 6: DC RF 6: Funded in Funded in Future prior years 2021 Funding 1 Other Type of Funds Reserves/Re (R=Reserve, Property Other serve Funds RF=Reserve Fund) Taxes Sources Type Total Funding Development Related Studies Integrated Transportation Master Plan (ITMP) 10500-502230 376,892 309,295 4,738 27,967 34,892 376,892 Beachfront Park Rehab & Needs Assessment 10500-502230 78,526 26,202 29,781 0 22,543 78,526 New Financial System C10600.1801.80 5,000,000 1,323,680 97,577 535,243 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 371,389 74,481 91,350 84,858 120,701 371,389 City Centre Storm Water Mgmt Strategy 10510-502230 249,156 12,474 5,969 205,798 24,916 R-DC City's Share 249,156 5 Year Capital and Operating Cost Financial Impact Analysis 10600-502230 32,387 0 12,676 0 19,711 32,387 DC Bylaw and new Community Benefit Charge (CBC) Bylaw 10600-502230 13,034 0 13,034 0 13,034 Sub-total Studies Protective Services 6,121,384 1,746,131 255,125 853,866 1,768,416 -197,847 1,300,000 6,121,384 Seaton- New Fire Hall-Site Preparation, Other Construction Re C10700.1601 C10700.1901/2008/ 430,000 299,997 16,877 102,376 10,750 R-DC City's Share 430,000 FS #1 New Fire Station & HQ (Seaton) Bunker Gear & Breathin 2102 273,453 117,970 0 155,483 273,453 Aerial Ladder Truck (Seaton Fire Station #1) - New - Aerial LadC10700.1903 1,510,641 0 58,151 1,414,977 37,513 RF - Seaton Land Grp FIA 1,510,641 Seaton FS#1- New Fire Station & H.Q.Re-design - Design and C10700.2007 FS #1 New Fire Station & HQ (Seaton) - Construction Cost 445,000 184,925 106,828 142,122 11,125 R-DC City's Share 445,000 (DC Debt funded) C10700.2007 FS #1 New Fire Station & HQ (Seaton) - Construction DC 8,980,320 0 0 6,213,000 2 2,320 2,765,000 Debt 20-Yr 8,980,320 Debt (Interest only) 11100 1,923,830 73,479 1,850,351 1,923,830 Small Vehicle (Seaton Fire Station A) - New C10700.2105 55,000 0 0 53,625 1,375 Third Party Contri RF - Seaton Land Grp 55,000 FS #1 New Fire Station & HQ (Seaton) - FF&E C10700.2107 300,000 0 0 207,500 92,500 FIA RF - Seaton Land Grp 300,000 Fire Hall Technology - Seaton C10405.2101 40,000 0 0 39,000 1,000 FIA RF - Seaton Land Grp 40,000 Seaton North FS - Land (Debt charges) 11100 Animal Shelter - Design (portion of facility dedicated for By- 1,946,628 0 119,961 1,046,363 2 21,000 FIA 1,304 758,000 Debt 10-Yr 1,946,628 Law services) C10430.2101 909,000 0 6,914 610,686 3 291,400 RF - Animal Shelter 909,000 Sub-total Fire Services 16,813,872 602,892 382,208 11,835,484 465,288 3,624 3,524,375 16,813,872 Transportation C ty s S a e & BR-1 Third Concession Road - Brock Road to 425m East (T/L) C10575.1101 1,576,525 117,844 233,142 43,788 374,750 FGT 1,000 806,000 Debt 15-Yr 1,576,525 BR-4 Brock Rd. East Side Dellbrook To Finch Ave. C10575.1203 232,372 107,578 8,608 0 116,186 R-DC City's Share 232,372 B-29 Sandy Beach Road - EA, Design C10575.1609 675,000 163,318 0 174,182 37,500 R-AIP 300,000 Loan 10-Yr 675,000 Walnut Lane Extension Study & EA and Detail Design (related C10575.1801 461,226 214,080 14 131,826 115,307 R-DC City's Share 461,226 DH-4 Valley Farm Road - Road Oversizing - DH-4 Valley Farm C10575.1804 288,000 48,768 0 210,432 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 0 1,000,000 1,000,000 R-DC City's Share 2,000,000 Purchase of Part Lot 21, Concession I, Pickering, being part of C10600.2001 831,761 604,966 0 18,855 0 207,940 Third Party Contribu 831,761 2 of 4 City of Pickering Amount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit) For the year ended December 31, 2021 DC Act S 43 (2)(b) DC Recoverable Cost Share Non - DC Recoverable Cost Share Description Project Code Gross Capital Costs DC RF 6: DC RF 6: DC RF 6: Funded in Funded in Future prior years 2021 Funding 1 Other Type of Funds Reserves/Re (R=Reserve, Property Other serve Funds RF=Reserve Fund) Taxes Sources Type Total Funding B-26B A-11 (Plummer Street) C10575.2001 364,045 0 0 273,033 91,012 R-DC City's Share 364,045 Highway 401 Road Crossing Design C10575.2002 3,478,460 0 14,043 1,586,049 1,391,384 Third Party Contribution 486,984 Loan 2-Yr 3,478,460 Land Acquisition-Hghwy 401/Notion Rd Crossing-connecting N C10575.2004 5,000,000 1,116,222 0 133,778 3 1,250,000 RF- Roads & Bridges 2,500,000 Third Party Contribu 5,000,000 Hwy 401 Road Crossing - Land Acquisition - Phase 2 C10575.2004 15,000,000 0 0 6,825,000 3 6,000,000 Third Party Contribution 2,175,000 Loan 2-Yr 15,000,000 City Centre Relocation of Services C11100.2006/C10525 7,489,000 0 0 600,000 3 0 0 6,889,000 Debt-25 Yr 7,489,000 City Dev Projects-DCRF committed 582,320 0 582,320 5 0 0 582,320 DH-15 - Brock Road (Both Sides) Third Concession road to CP underpass sidewalk/multi-use trail, streetlights C10575.1106 1,069,250 0 471,965 62,535 0 750 534,000 Debt-15 Yr 1,069,250 Sidewalks W0-2,WO-10 Kingston Rd & Altona C10515.1603/1801/1 782,660 0 0 391,330 391,330 R-DC City's Share 0 782,660 Finch Ave (Townline to Altona) - Finch Ave - Townline to AltonaC10575.1401 74,362 55,772 0 0 18,591 R-DC City's Share 74,362 1 Ton Dump Truck with Aluminum Body, Plow and Salter - New C10315.2113 225,149 0 0 225,149 225,149 Sub-total Transportation 40,130,130 2,428,547 727,772 12,258,278 10,814,860 1,750 13,898,924 40,130,130 Stormwater Management B-20 D Krosno Creek SWM Facility Design C10575.1904 965,400 0 0 463,392 502,008 R-DC City's Share 965,400 B-20 C Krosno Creek SWM Facility Construction - B-20 Krosno CreekC10575.1904 1,315,000 0 0 631,200 683,800 R-DC City's Share 1,315,000 Breezy Drive/Sunrise Ave. Storm Sewer Outfall Reconstruction C10575.1903 596,300 8,939 12,802 127,335 447,225 R-DC City's Share 596,300 Installation of Oil Grit Separators - Installation of Oil Grit Separators F C10575.1903 300,900 0 0 85,310 215,590 R-DC City's Share 300,900 Krosno Creek Culvert Replacements & Erosion Control Construction C10575.1910 4,800,000 0 0 2,304,000 2,496,000 R-DC City's Share 4,800,000 Sub-total Stormwater Management 7,977,600 8,939 12,802 3,611,237 4,344,623 7,977,600 Other Services Related to a Highway Sidewalk Plow with Attachments - New C10305.2004 168,510 0 0 168,510 0 168,510 5 Ton Dump Truck with Plow and Wing - New (Seaton) (5319 RC10315.2006 307,262 0 0 307,262 0 307,262 Front Plow and Wing Attachments for Seaton - New C10315.2106 40,000 0 0 40,000 0 40,000 Operations Centre-Debt Charges 61% of total debt charges 11100 8,279,058 1,273,529 411,758 6,593,772 2 0 8,279,058 Sub-total 8,794,830 1,273,529 411,758 7,109,544 0 8,794,830 3 of 4 City of Pickering Amount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit) For the year ended December 31, 2021 DC Act S 43 (2)(b) DC Recoverable Cost Share Non - DC Recoverable Cost Share Description Project Code Gross Capital Costs DC RF 6: DC RF 6: DC RF 6: Funded in Funded in Future prior years 2021 Funding 1 Other Type of Funds Reserves/Re (R=Reserve, Property Other serve Funds RF=Reserve Fund) Taxes 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 0 5,670 161,055 23,275 190,000 Duffin Heights Neighbourhood Park Construction C10320.1808 600,000 18,350 0 508,150 73,500 R-DC City's Share 600,000 Seaton (P103) Village Green Construction C10320.1816 210,000 0 0 184,275 25,725 RF-FIA 210,000 Seaton (P104) Village Green Construction C10320.1817 285,000 0 0 250,087 34,913 RF-FIA 285,000 Seaton (P-102) Neighbourhood Park Construction C10320.1819 950,000 804,723 0 28,902 116,375 RF-FIA 950,000 Village Green Seaton P-114 (88/12) C10320.1909 C10320.2023-2025, Seaton Parks P-123,P-112,P-113, P127, P-126, P-105, P-2118, 2119, 2132, 222,000 0 0 194,805 27,195 RF-Parkland 222,000 106, P-107 2133, 2138 Pickering Heritage & Community Ctr (Design)-Community Ctr 4,496,632 0 0 4,078,636 417,996.00 RF-Seaton FIA R-Rate Stabilization: $693K RF-DC City's Share: RF-DC Library 4,496,632 component C10220.2011 1,503,779 104,063 21,860 72,860 753,943 4 $61K 551,052 Facilities Grant-Fed: $300k RF-DC Library 1,503,779 PHCC Project Management C10220.2011 450,000 0 0 42,630 76,500 4 R-DC City's Share 330,870 Facilities: $30,870 Grant-Fed: $4.0M 450,000 PHCC - Construction C10220.2011 29,080,000 30 0 7,993,700 5,694,400 4 RF-DC Library Facilities 15,391,900 Debt 20-Yr: $11.39M 29,080,000 Rotary Frenchman's Bay West Park Waterfront Master Plan C10320.1912 Design-Rotary Frenchmans Bay West Park- 2,000,000 0 44,801 955,199 1,000,000 R-DC City's Share 2,000,000 Change/Washrooms & Staff Room- Consulting services for C10320.1913 44,117 14,954 4,899 0 24,264 44,117 Rotary Frenchmans Bay West-Accessibility C10320.1913 Seaton Community Centre - Preliminary Planning, 1,000,000 0 34,264 465,736 500,000 R-DC City's Share 1,000,000 Investigations & Design C10260.2101 150,000 0 0 138,450 11,550 RF-Seaton FIA 150,000 Skate Board Park (Skate spot) (Location C10320.2124 200,000 0 0 100,000 100,000 R-DC City's Share 200,000 Skate Board Park - Community Size ( Civ C10320.2134 DC Debt Charges. 39% of total debt charges-Construction of 70,000 0 2,798 32,202 35,000 R-DC City's Share 70,000 a new Operations Centre. The project budget includes costs 11100 C11100.2001/ 5,253,341 814,223 263,255 4,175,862 2 -5,253,341 Performing Arts Centre C10225.2201 C11100.2003/ 64,640,000 284,524 0 12,404,476 3 51,951,000 Debt-25 Year 64,640,000 Senior & Youth Centre C10265.2201 C11100.2004/C102 41,290,000 679,818 0 35,552,182 3 5,058,000 Debt-25 Year DCRF-Library 41,290,000 City Centre Bridge Link 65.2202 C11100.2005/C102 5,671,000 11,109 0 1,826,891 3 1,844,000 Facilities 1,989,000 Debt-25 Year 5,671,000 City Centre Underground Parking Garage 65.2203 28,337,000 0 0 17,372,000 3 3,328,000 RF-DC Library Facilities 7,637,000 Debt-25 Year 28,337,000 Sub-total Library Facilites & Materials Pickering Heritage & Community Ctr (Design)-Archive Facility 193,939,473 6,101,350 377,548 86,652,641 14,140,747 24,365 86,642,822 193,939,473 component C10220.2011 0 296,180 62,218 192,654 4 (551,052) 4 RF-DC Library Facilities 0 PHCC Project Management C10220.2011 0 0 0 30,870 4 (30,870) 4 RF-DC Library Facilities 0 4 of 4 City of Pickering Amount Transferred to Assets - Capital & Current Fund Transactions (Pre-Audit) DC Act S 43 (2)(b) For the year ended December 31, 2021 DC Recoverable Cost Share Non - DC Recoverable Cost Share Description Project Code Gross Capital Costs DC RF 6: DC RF 6: DC RF 6: Funded in Funded in Future prior years 2021 Funding 1 Other Reserves/Re serve Funds Type of Funds (R=Reserve, Property Other RF=Reserve Fund) Taxes Sources Type Total Funding PHCC Archives & Library Space - Construction Outreach Vehicle Seaton Regional Library - Schematic Design New Central Library-Consulting, Construction & Landscaping costs City Centre Bridge Link City Centre Underground Parking Garage C10220.2011 C10900.2109 C10905.2101 C11100.2002/C109 00.2201 C11100.2004/C102 65.2202 C11100.2005/C102 65.2203 0 220,000 25,000 39,884,000 0 0 0 0 5,694,400 3 4 0 198,000 0 6,465 434,283 0 16,347,718 11,147 0 1,832,853 3 4 0 0 3,328,000 3 4 (5,694,400) 4 22,000 18,535 (1,844,000) 4 (3,328,000) 4 RF-DC Library Facilities R-Vehicle Replacement RF-Seaton FIA 23,102,000 Debt-25 Year RF-DC Library Faciliites RF-DC Library Faciliites 0 220,000 25,000 39,884,000 0 0 Sub-total 40,129,000 741,609 62,218 27,630,960 (11,407,787) 23,102,000 40,129,000 Grand Total 313,906,290 12,902,996 2,229,431 149,952,009 20,126,146 227,586 128,468,121 313,906,290 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 Projects have been restated in the 2022 DC Background Study 4 Presented as in/out to show funding from "Library Facilities". Total costs and sources of funds presented in "Parks & Recreation". 5 Amount presented relates to DC RF budget commitments only, combined 4 projects. No expenses in 2021. 6 Development Charges Reserve Fund (DC RF)