HomeMy WebLinkAboutCS 12-04 REPORT TO
EXECUTIVE COMMITTEE
Report Number: CS 12-04
Date: May 07, 2004
From:
Gillis A. Paterson
Director, Corporate Services & Treasurer
Subject: Cash Position Report as at March 31,2004
Recommendation:
It is recommended that Report CS 12-04 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
March 31,2004.
Financial Implications: The cash position of the Corporation for three months
ended March 31, 2004 was a net increase in cash of $938,181 to $5,255,075. Sources
of Funds totalled $44,784,108 and Use of Funds totalled $43,845,927.
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 first quarter of 2004. 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 January 1 to March 31, 2004 and provides the outstanding taxes receivable as at
March 31, 2004. This balance represents all three levels of taxes billed, such as City,
Region and School Boards.
Outstandinq Investments: Attachment 3 reflects the short-term and long-term
investments for both the Current Fund and the Reserve Funds outstanding as at
March 31,2004.
Report CS 12-04
Subject: Cash Position Report as at March 31,2004
Date: May 7, 2004
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 $282,899 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 2002-2004
Building Permits Issued 2000-2003
City Portion of Development Charges Collected 1991-2003
Prepared By:
Approved / Endorsed By:
Avril Pa~n ,e/ /
Audit Analyst
Gillis A. Paterson
Director, Corporate Services & Treasurer
Attachments
Copy: Chief Administrative Officer
Recommended for the consideration of
Pickering Cib/Council
Tf~(::;~ma~'J. Q"uinn, (:::~ief Adm~
ATTACHMENT# ~ TOREPORT# c~.!.~-o~ City of Pickering
Cash Position Statement
for three months ending March 31, 2004
Sources of Funds:
Accounts Receivable collected $ 496,812
Development charges collected 282,899
Operating 4,888,170
Grants-in-lieu:
Federal 320,514
Provincial 396,374
Ontario enterprises 3,194,906
Municipal enterprises 718,943
Linear Properties 104,105
Federal specific grants 5,561
Ontario specific grants 69,228
Interest Income 142,910
Sale of land
Tax payments received 34,163,686
POA Revenue
Total $ 44,784,108
Use of Funds:
Operating and Capital Expenditures $ 11,715,610
Payroll 6,620,186
Region Levy 14,594,568
Regional portion of Dev. Charges 513,184
School Board Levies 9,572,689
School Board portion of Dev. Charges 67,091
APTA Funding 762,600
Total $ 43,845,927
Net Cash Increase (Decrease) $ 938,181
FINANCIAL POSITION
Bank Balance Net Cash Bank Balance
Jan. 1, 2004 Provided {Used) Mar. 31, 2004
Current Fund $ 4,316,894 $ 938,181 $ 5,255,075
TOTAL $ 4,316,894 $ 938,181 $ 5,255,075
Note: Includes City, Region and School Boards
Cash Position first quarter 2004.xlsNET CHANGES
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City of Pickering
Other Development Contributions
For three months ending March 31, 2004
CONTRIBUTIONS:
Cash - In - Lieu of Parkland
TOTAL CASH-IN-LIEU OF PARKLAND
$11,200
$11,200
Cash Position first quarter 2004Other Dev. Contrbtns
I
ATTACHMENT #~ TO REPORT
^TTACHMENT # 7
. TO REPORT#~$ f,~-~J