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
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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
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^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
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ATTACHMENT#