HomeMy WebLinkAboutCS 53-04PICKERING
REPORT TO
EXECUTIVE COMMITTEE
Report Number: CS 53-04
Date: November 4, 2004
From:
Gillis A. Paterson
Director, Corporate Services & Treasurer
Subject: Cash Position Report as at September 30, 2004
Recommendation:
It is recommended that report CS 53-04 from
Treasurer be received for information.
the 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
September 30, 2004.
Financial Implications: The cash position of the Corporation for three months
ended September 30, 2004 was a net increase in cash of $6,612,406 to $12,787,030.
Sources of Funds totalled $57,582,181 and Use of Funds totalled $50,969,775.
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 third 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 July 1 to September 30, 2004 and provides the outstanding taxes receivable as at
September 30, 2004. This balance represents all three levels of taxes billed, such as
City, Region and School Boards.
Report CS 53-04
Subject: Cash Position Report as at September 30, 2004
Date:
November4,2004
Page 2
Outstandinq Investments:
investments for both the
September 30, 2004.
Attachment
Current Fund
3 reflects the short-term and long-term
and the Reserve Funds outstanding as at
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 $3,377,132 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, 3rd Quarter
Building Permits Issued 2000-2004, 3rd Quarter
City Portion of Development Charges Collected 1991-2003
Prepared By:
Approved / Endorsed By:
"Avril Payne
Audit Analyst
Gillis A. Paterson
Director, Corporate Services & Treasurer
Attachments
Copy: Chief Administrative Officer
Recom m/en~~nsideration of
'l Pickeri ~ t
'~ f.?omas J Administrative Officer
ATTACHMENT# /
City of Pickering
Cash Position Statement
for three months ending September 30, 2004
Sources of Funds:
Accounts Receivable collected $ 174,766
Development charges collected 3,377,132
Operating 10,979,516
Grants-in-lieu:
Federal 605,715
Provincial 929,297
Ontario enterprises 49,769
Municipal enterprises 23,723
Linear Properties
Federal specific grants
Ontario specific grants 140,521
Interest Income 370,556
Sale of land 100,000
Tax payments received 40,831,188
POA Revenue
Total $ 57,582,181
Use of Funds:
Operating and Capital Expenditures $ 18,060,164
Payroll 6,618,061
Region Levy 13,695,711
Regional portion of Dev. Charges 1,460,813
School Board Levies 9,939,705
School Board portion of Dev. Charges 347,282
Debenture payment to Region
APTA Funding 848,040
Total $ 50,969,775
Net Cash Increase (Decrease) $ 6,612,406
FINANCIAL POSITION
Bank Balance Net Cash Bank Balance
July 1, 2004 Provided (Used) Sept 30, 2004
Current Fund $ 6,174,624 $ 6,612,406 $ 12,787,030
TOTAL $ 6,174,624 $ 6,612,406 $ 12,787,030
Note: Includes City, Region and School Boards
Cash Position third quarter 2004.xlsNET CHANGES
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City of Pickering
Other Development Contributions
For three months ending September 30, 2004
CONTRIBUTIONS:
Cash - In - Lieu of Parkland
TOTAL CASH-IN-LIEU OF PARKLAND
$76,900
$76,900
Cash Position third quarter 2004.xlsOther Dev. Contrbtns
REPORT#
I
ATTACHMENT
TO REPORT