HomeMy WebLinkAboutTR 15/97
TOWN OF PICKERING
~ONSOLlDATED BALANCE SHEET
AS AT DECEMBER 31.1996
l.jJ'ii'
11'!~
TOWN OF PICKERING
1997 HALF-YEARLY STATEMENT OF TilE FINANCIAL l'O~1TI0N
~
As at AJ al
~ ~ !Sill;
3110 Cash. On !land 19,139 S 10,700
3121 Cash - In Bank 545,176 1.898,892 10
,3122 Cash - Deposit Receipt.s 13,5"4,931 26,979,231 I
3211 Taxes Receivable 31,41",171 30,887,557
3220 Due from Federal Government 25,381 134,106
3230 Due from Provincial Government 13,034 12,481
3250 Duc from Other Municipalili~s
3262/5 Due from/(to) Other Uouds &. 1 rusts (6",341 ) (32.229)
3263/4 Due fromJ(to) Capital Fund (164,30") 3,088,112 3
3270 Accounts Receivable. Trade l,lP4,421 752.381 II
3280 Accrued Receivables
32901- Disbursements Recoverable 71,747 523
3294/& Advances Recoverable 9,617 16,224
3299 Tax Write-OITs Recoverable 114,83(, ~Il,OI4
4521 Provision for Tax Write-OfTs (100,000) \ 100,000)
3300 Investments by Town 1;,51)4,000
3400 Loans duc to Town .; 78,000
3514 Inventory. Central Stores 7; ,I):~ 94,.,~8
3513 Inventory. Other 93,681 92,5<l2
3522 Tax Registration Properties 13,809 60,261
37101. Prepaid ExpcnsesllXfmed ChMse. --1.1..ill _ ....i!.ill
TOTAL ASSETS SS9,489,86~ S~I,4~2,037
P"lIe I
TOWN OF PICKERING
1997I1ALF.YEARLY STATEMENT OF TilE FINANCIAL POSITION
LIABILITIES. RESERVES AND SURrLUS/(DEUQIl
.4..)31 AJ lilt
~ J.!u!.!:l.\IL21 ~
4100 Short Tem1 Dorrowings S S
4201 Duc to Region of Durham 10,587,208 1I.009,IISO
4203 Duc to Board of Education 21.809,898 22.1J~,S.12
4206 Due 10 Separate School Uoard 6,233,598 6.6JH,%J
4202 Over/(Undcr) Lc\'y. Region 1.J52,HH6 6~O,U9
4204/5 Ovcr/(Undc:r) Le,,"y. Dd.of Education 1.026,664 466.374
4207/1 Over/(Under) Levy. Scp.school UJ, 4,1186 (HO,l.6)
4223/. Duc 10/( from) Kescr\'c F unus ~,081 ,095 6.46H,19S
4244/. Duc to Fund for Subdivision \\ork..ctc. 664,174 ~6q ,64 1)
4260 Accounts Payable 666,759 90l,9l0 II
4261 rayabies . Debenture Deb. Charges
4271/. Payables. Payroll Deductions 451.739 4~4,464
4291/. Payables .llyoro, etc. on Tax. Roll 27,769 7,t7S
4295/6 Payables. Government Sales Tax )3,180 31,~lO
4450 Deferred Re,,'cnuc. l.1I Prepa)-ment 13.367 4,79J
4452/. Deferred Revenue. Other 9,685,712 11.5l7,146
44641. Trust Deposits Refundable by T o"n ...JllJ>ll -"!l~ .(>!,~
TOTAL LIABILITIES S~7.171,66S S6I,.371,87l
Reserve for Working Funds 400,000 S 400,1)(l{)
Reserve for Equipment rtepla(;c:ment 6 J ),639 1,471.~ll
Reserve for Contingencies 30,1)(){) 224,440
Reserve for Self Insurance 250,000 lSO,II00
Reserve for Inventories 214.207 20H,9S4
Reserve for Legal Fees
Reserve for Accrued Vacation Pay 4)0.000 441,.350
Reserve for Reskilling. etc. . 495 000 ~OQ
TOTAL RESERVES S2,4J2,Il-I6 SJ,OSO,l65
General Fund Surplus/(Deficit) S (115,645)
Prclevy of Local Improvements - --
TOTAL SURPLUS/(DHICIT) S( I 15.64S)
TOTAL LIABILITIES, RESERVES '"
SURPLUS/(DHICIT) S~9,~89.B69 S2!..illN 7
Page 2
TOWN OF PICKERING
1997 HALF-YEARLY STATEMENT OF TilE FINANCIAL POSITION
liQIES
This account controls the short term 'money ma: '<et' invesuncnls totalling $26,979,23 I ",hich
have been talr.en out 10 cover the 1997 levy payments of the Region of Durham and 130ards of
Education (See Note 6).
The average leon remaining is 69 days and the a\'t.~raa;c dail)' rale is 3.17%.
For year to year comparison purposes, this account should he comb.ned ...ith G!L J3Uu as both
have the :llII1le conunitmenl oblig.tions;
l.222 1221
GiL 3122 $ 13,524,93 I $26,979,23 I
G/L )300 !:! \().l (lOO -
$26 '128m 'S~6 {)79.211
Not reflected in the abo\'e amount are the TO"TI's l..,ngc-f lerm in\'cstlTl~nts tlltalling S8,910.000
and sununarized on the alta<hcd printout. Total investment penfolio 1<" the TO"'" is $35,HH9,23 1 as at
June30, 1997.
In 1997 regular tax billings totalled $93,654,642, bruhn do",n as follo"'s:-
To.....n
Region
Schools
$ 15,558,664
$21,984,850
$56,111,128
Included in the "Taxes Receivable" total of $30,887,557 is an an10unt 01 $23,80 I ,000
that is not due until September 25, 1997, the next instalme~1 due date.
The following is an aged analysis of Taxes Receiva"le. by year:-
llilr
tilllQl!.rll
1994
1995
1996
1997
74,032
615,265
2,123,408
W.Lill
7,086,557
2il!2l..QQQ
$30887557
1997 (Sept.)
:.ii*'€
TOWN OF PICKERING
:# ;
NOTES TO TIlE CONSOLIDATED FlNANCIAL STATEMENTS
..t.C AT nlO'r1<"MRI<'U 'I 19Q6
1997 HALF. YEARLY STATEMENT. NOTES (CONTINUEDI
< The "Investments by the Town" difTer from Cash-Deposit Receipts in that they are revenue
roducing, longer tcnn securities taken out to cover General fund's commitments to Ihe Capital fund
OIL 3263/4); our 'Over Levy' obligations (GIL 4202/8); our Reserves (G/L 4610116); wld the 1991
vy payments \0 the Region of Durham and the Board of Education (see Note 6).
As a11une 30, 1991 all investments from the General Fund are short term cash. lleposit
Receipts.
For year to year comparison purposes, this account should Ix combined wilh GIL J 122 as bolh
have lhe same commitment obli~ations:
l222
1m
GIL 3300
OIL 3122
$ 12,5O-t,OOO
11 ~24.911
SM~'1.'W.
S
2A 979m
$2A.979m
Due to Reoion & I30ards of Fducal;on
The amounts due to the "Region of Durham" and the "Boards of Education" art.: icy)' payments
payable as follows:
Reoion of Durham ((ill. 4201)
August 30, 1996
October 31, 1996
$ 5.293.604 Sept. 2/07 $ 5.504,540
~ 293 604 Oct. 31/91 5 504 540
$ lJ!.illM S~
$ I 0,904,949 Sept. 30/97 S11,I11,916
12 904 949 llcc. 15/91 llJlL2l.Q
SillQ2.J.2.B. $~
$ 3,116,7'19 Sept. 30/97 $3,319,482
~lli222 Dec. 15/91 Ul2m
$ Wl..ill S~
Durham I30ard ofEducalion ((i/! 4201)
September 30, 1996
December 13, 1996
Seoarale School I30ard (G/L 4206)
September 30, 1996
December 13, 1996
The total levy payment liability is $39,883,816.
NOTES TO THE cn, lL1DATED FINANCIAL STATEMENTS
AS AT DECEMBER 31. 1996
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