Loading...
HomeMy WebLinkAboutCS 06-02 027 REPORT TO COUNCIL FROM: Gillis A. Paterson Director, Corporate Services & Treasurer DATE: May 9, 2002 REPORT NUMBER: CS 06-02 - SUBJECT: 2002 Annual Repayment Limit for Debt and Financial Obligation RECOMMENDATION: 1. That this report be forwarded to Council for its information. ORIGIN: Each year the Ministry of Municipal Affairs advises municipalities of the Debt Repayment Limit for Financial Obligations. AUTHORITY: The Municipal Act, R.S,O 1990 as amended. - FINANCIAL IMPLICATIONS: Not Applicable EXECUTIVE SUMMARY: Not Applicable BACKGROUND: Recently, the Ministry of Municipal Affairs provided information regarding the City's 2002 Debt and Obligation Repayment Limit. Debt for these purposes, includes all forms of loans, leases and other long term financial obligations and commitments, The 2002 Annual Repayment Limit ( ARL) was calculated based on 25 percent of 2000 net own-source revenues as reported in City of Pickering's 2000 Financial Information Report (FIR) submitted to the Ministry of Municipal Affairs. The FIR was prepared in conjunction with the annual financial statements, Own-source revenues represent generally the discretionary revenues of a municipality including property taxes, user fees, licenses and fines and exclude all grants, internal transfers and extraordinary items such as the one time sale of land or other fixed assets and non-discretionary items such as development charges. - The ARL for 2002 is $9,673,865. ARL represents both the principal and interest payment for the year. This calculation does not measure affordability or take into account other commitments the City may have and the need to change levels of service or raise property taxes to maintain the debt repayment amount. This limit represents the maximum amount which the municipality has available for approval and certification by the Treasurer as of December 31,2000 to commit to payments relating to debt and financial obligation. The limit is effective January 01, 2002. 0 2 8> Report to Council CS 06-02 Date: May 9, 2002 Subject: 2002 Annual Repayment Limit for Debt and Financial Obligations Page 2 Currently the City has no external debt. As of year-end December 31, 2001, the approved and committed internal loans and leases are $9,603,284. The related principal and interest charges or annual repayment in 2002 for the 2001 debt and long tenD obligation is $1,360,805, which was included in the 2002 Current Budget, therefore, the ARL is reduced to $8,313,060 for the 2002 calender year. .-. For illustration purposes, if the City could borrow at 7%, the ARL of $8,313,060 would allow it to undertake additional long tenD borrowing as follows: Tenns a) 5 years b) 10 years c) 15 years d) 20 years Debt amount 34,085,187 58,387,455 75,714,636 88,068,676 ATTACHMENTS: 1. Letter from the Ministry of Municipal Affairs dated February 20, 2002 Prepared By: Approved / Endorsed By: ~ Caryn Kong, Senior Financial Analyst .~. ~ YA~- - '-Gillis A. Paterson, Director, Corporate Services & Treasurer ~ - GAP:vw Attachment Recommended for the consideration of Pickering City Council ill' - Ministry of Municipal Affairs and. Housìng, ' AJTACHMENT#LTOREPORT# CS.O'-()c2.. 029 . ~Ontarro Ministère des , Affaires rriunicipales et du Logement . " R.eo' .'. . CITy OFf: I V,eO ' .' P/OK~RI' , . ,', ,¡;¡; Na . FEB 25 2002 ' . ' , ~tE 8eÞih~'" . , '"fl~S ~unicip~ Finance Br~ch .. ..13th Floor, 777 Bay -Street, , , TQronto, ON, M5G 2E5 . . "yel:'(416) 585..6951 . Froe:' (416) 585-6315, February 20,2002 Dear Municipal Treasurer, CierkfTreasUrer: I am pleased to enclose a report showing your municIpality' S 100~ Annual Repayment Limit (ARt) , respecting long-term debt and financial ç¡bligations.' , ' , . Your 2002 ARL was calculated based on~5 percent of your 2000 net own source revenues as reported ,in-your 2000 FIR.. Note that revenues formunicipal el~ctrical utilitieS are not included in the calculation of th~ ARL, in ,accordance with Publi~~ector Accounting Board (PSAB) guidelines. ' . " If you require' any further information, please contact~e'appr~priate Municipal Services office of the Ministry of Municipal Affairs and BouSing (list 'enclosed).. Yours truly, . /(}",.;.?),' p./-'; 'b,uJ 6 t>Ull/X/ - ban Cowin Director Enclosures e. í - n. : ,') ,,)", fJ J¡t Ministry of Municipal Affairs and Housing 777 Bay Strer;.t, . Toronto, . Ontario. M5G2E5 Ministère des affaires munïçipales et du logement 777 rue Bay Taranto (Ontario) M5G 2E5 .- ANNUAL REPAYMENT LIMIT (uNDER ONTARIO REGULATIÇ>N 799/94) The repayment limit has been ca1culat~ based on data contained in the 2000 Financial Information Return, as submitted to the Millistry, This limit represents the maximum amount which the municipality haß available as of. . December 31, 2000 to commit to payments relating to debt and fmandal obligations, Prior to .the authorization by Coun.cil qf a long term debt or financial obligation, this limit must be adjusted by the Trêasurer in the prescribed - manner. The limit is effective January 01,2002, FOR ILLUSTRATION PURPOSES.ONLY, . thè additional long-term borrowing which a munidpality could undertake over a 5 - year, a 10 - year, a 15 - year and a 20 - year period is shown, . . 'Page: 01 of 03 Date Prepared: February 20, '~OO2 - 031 DETERMINATION OF ANNUAL DEBT REPAYMENT LIlVIIT . ~; ;~~~!~~Jß~:~~~;'~;~¥~$; ;~~i~i ~ii~~; ;t~1W~1~~;1i \) }K'~~1j;~};! ~~j~~¡~~ ~ NiY~!'~il~ ; ~;-;: J: 1.0 GROSS DEBT CHARGES 1.1 Principal 1.2 Interest .",'. SLC 74 309901 SLC 14 3099 02 545,000 115,294 660,2941 - 1.3 ' SUBTOTAL Add Lines 1.1, 1.2 2.0 DEBT CHARGES ON O.C. W.A. PROVINCIAL PROJECT 2.1 2.2 2.3 2.4 W mer Projects -- this municipality only Water Projects -' share of integrated project(s) Sewer Projects - ,this municipality only Sewer Projects - share of integrated project(s) SLC 74 2810 03 SJ:.C 742820 03 SLC 74 2830 03 SLC 74' 2840 03 0 0 0 0 01 2,5 SUBTOTAL Add Lines 2.1 thru 2.4 . 3.0 PAYMENT IN RESPECT OF LONG TERM' COMMITMENTS AND LIABILITIES SLC 42601001 0 3.1 PAYMENTS FOR SOCIAL HOUSING* 0 ~~r~1u.~f ;~~¡91.~~tQ1;'1~J ~~]~';lã;J~!:A~r~~~1 ,iM~ ¡~~ '~'~H ~&t~¡~ jiIlr!~t§,J;!itffi~;i, ~~;1iJÐ;i ~ §~TI\;t¡~;~lf~i¡ (it '!}¡~(ti~~1i1ItJttfl\ili!Åll~JH~Ð~m.ì17.. *'¡~~~~ Tm ~íilif~717J~~!1.m 5,0 DEBT CHARGES FOR MUNICIPAL UTILITIES 5.1 Electricity SLC 40 3099 02 + SLC 40 3099 08 0 5.2 Gas SLC 40329902 + "SLC 40 3299 08 0 5.3 Telephone SLC 40 3499 02 + SLC 40 3499 08 0 Amounts Recovered from Unconsolidated Entities 5..4 Electricity (principal) SLC 74303001 545,000 5.5 Electricity (Interest) SLC 74303002 . 115,294 5.6 Gas and Telephone (principal) SLC 74 3040 01 + SLC 74 3050 01 0 - 5.7 Gas and Telf1)hone (Interest), SLC 74 3040 02 + SLC 74 3050 02 0 5.8 SUBTOTAL Add Lines 5.1 thru 5.7 660,2941 6.0 PAYMENTS TO PROVINCE FOR DO~OWN REVIT ALIZA TION PROGRAM LOANS SLC42 5410 OJ 0 7.0 DEBT CHARGES FOR TILE DRAINAGE AND SHORELINE ASSISTANCE ' SLC 40 1850 02 + SLC 40 1850 08 0 l1IDm{#Æ~i f7l~~~ ~~FJ!!lç~;;1.\~m~ÆiE i4~~f~!~~ ~ [;Hffjfi;¡::~I§~j¡t;;Jtili; ~;¡!;;~~i: ~~:~; ;;~¡i~~~I~f~~~~~i~!i:~ ~~; U~;t~,;YAi ; ~ ~~ 'i2~7!\ : *~.!;Ii} Uf ~J >~ 'lS ~~~@:. ~~ ~I Page: 02 of 03 Date Prepared: February 20, 2002 - 0::1'2 ..', DETERMINATION OF ANNUAL DEBT REPAYMENT LIMIT, !i\:, -'. .~,~>~::'::'-~) >.,,';:;,;~C:..~: ¡>'<{:'~::;;,:';.::;:,.:';:~:~~.'::>i>' /¿ ;~<;/:.\:.,:: ::,/~..}:.\::, r;':':,::!':;":~':,":<:::;;::::~4~/i.i:'~:~~Y'i:,'::,::::,:;,~<t./"',:I;,'::::¡..;:,,'" ',', :::', " ..' ¡: ¡;hl ~'IL:iP',\I'JI.II\',:,",hl\I;'l'l; ".II,I(-.":'¡",¡r,:,'~'",",.»"..:!"I:¡ï .,'..,1:,:,:,'ri;,:"~.,~",~",:,,,':""'i'::'t:,:.;,:~'..:;(N1:'1;I'.'~'II,(~,HH:::.;J Þ:HI:!, ,:', ',",' '.': ~.:::'~;~~ _:::.:;~~ ~:~~:~~~~"i}t,'Li:,;::~:ll:'}:.: ~;,:"t;Yi!1i.j;; <; ,~~:i~~t~~~i;;~;~}~i!:r':;~::~::~~:Y':':~;~f~~:~g~W::;d~:~~~~~, ~'~,~'.~:i:~ ~;::~~~,..~~.,., ',~:~,' ,::'..~~ ,',¡ 10.0 10.1 ...-11.0 12,0 ,13.0 , 14.0 15.0 16.0 17.0, 18.0 TOTAL REVENUE FUND REVENUES FEES AND REVENUE paR SOCIAL HOUSING ,SI:.C 10 9930 01 41,958.300 0 FEES paR REPAYING THE PROVINCE FOR DOWNTO~ REVITALIZATION LOANS' ' SLC42 5410 01 0 FEES FOR TILE DRAINAGE AND SHORELINE ASSISTANCE SLC 12 185004 0' GRANTS FROM GOVERNMENT OF ONTARIO. GOVERNMENT OF CANADA AND OTHERMUNICIP AUTIES . 13,1 13.2 13,3 SLG 10 0699 01 + SLC 10 0810 01 SLC 10 0820 01. ' SLC 10 109901 181,554 9,052 , 110;814 301,4201 , Ontario Grants Canada Grants Other Municipalities 13.4 SUBTOTAL Add Lines 13.1 tbru 13.3 CONTRIBUTIONS FROM CAPITAL FUND . SLC -10.3010 01 12,910 CONTRlBUTIONSFROM RESERVES AND RESERVE FUNDS SLG 10 3020 01 2.948,511 FEES AND REVENUE WffiCH WERE NOT REPORTED ON A PROPORTIONAL BASIS PROM OTHER MUNICIP ALmES FOR JOINT LOCAL BOARDS 0 NET REVENUE FUND REVENUES 25% OF NET REVENÚE FUND REVENUE . Add Lines 10,10.1 less Lines 11,12,13.4,14;15;1 Ó ~.:..'.. ~ :c' Social Housing adjustment incorporates information on payments and revenues for public, Mn-profit, and co-operative housing. SLC denotes Schedule, Line, Column . Page: 03 of 03 . Date Prepared: ' February 20, 2002 - } ) ) rll--~:'-"'7'7"~~'-:~"';""" -_W_.'._-,'-~":'&"'~.~'~':~~- ~'7~ ',,', ..; ,p'" , :~:;;:--::::-:~.' :"'~ ;::.,,: 7~~~:~.--;-.ry:7 7..,;-:::":":: .,' .., :', ," ',:..: ::'~~.~' ~""ft~.~._-~,.~. .. ,-' ".': ,.".', I HI...,' I( ./11"'1/, '.\ I,~ In I ('F,';, 0 FFiCES.-' "Ø '" ,Y1Cl1~ ;81: 1\'El{VI(';)J:;~S"' )NqSI(}:V'~:: ~'.t':':':~::"~"" .¡:'::~""'.i ::'.-;';:""~'::\;':,¡;.:¡:,::;:7,~ ~'.:~;":,.;'~r::..,:::':::.::::i':"~:~l',,:I)(,hHë~J: J :i,!HHu". .\. ,:1)1 I.t I '."., ,'. , ",,'. ",.":',,,:,'. .-'.:::".,:.,:":",-",;.";.."..,,,.,~':,.,,,::,,~,,:.';:~;;;':"",,:;~",_..:~.,::\¡;/:;.'~::.:~'J.~,~':~..!..:..,,'""::_~;'-~'-";"'~.':.'.:.';"..""""",.:"", "'""t,,.',,. '."-5 ¡.'--.--', 1 'jOll'.Iic'."'" ---:-- ~ ",. '","',..,:".',:>~ ,..':.~':\V"~Î"i'L~~,,;.~::~,::,.::.;:..~':t::.~.:;~:-::::~~~'~::";'~~:~:;:~,~:-~.;'dl,~ :¡"rr\j,f~',;':;J:i~iliÞ"1fÙ'i:i¡?~~;~¡t\,t'/liiiÎi""" "'----. 'r ","-,.n. _..:_:~,_:":',~~~.~..~.....,:.-_..__...,,-- _-,:_---:;..,~,_--,:~~,-~ ,'.' '.. ~ ":'."',:: :. ;: ,.':::,'. ::"7:.','.. ,,~:~t:.:":~::;J...,:'¡t:'. .;' . ."', '~::',{',L.:,-~,:':~,~-~~~,.,~': ....::2.: '..:..'. ..." .." .~_..~----- .__.~-- . CENTRAL: 777 Bay Street, 14th Floor Toronto ON M5G 2E5 General Inquiry: (416) 585-6226 Toll Free # 1-800-668-0230 FA}{: (416) 585-6882 Hendry, Bev, Director, , , . , " " , ". ' , , " " " " , , , " . ". ., (416) 585-6200 Rowat, Jim, Manager, Local Governance, , . . , , , , , " , , . , , " (416) 585-6626 Vacant, Manager, CommUJÙty Planning & Development"",.""..""", Rosen, Pearl, Administrative Coordinator." ., "" """"" ,(416) 585-6805 Smith, Nancy, Business Support Officer, . , . . . . . . . , . . , . , , , , "' (416) 585-6226 Den-eck, Tom, Municipal Adviser. . . . ., . " . . . . . ., , , . . , . '" . ," .(416) 585-6880 Fenton,Teny,MunicipaIAdviser ,""""""""",""'" (416)585-6687 Gutfreund,Tom, Senior Adviser (Acting) .,."."...."",." (416) 585-6910 Melady, Ruth, Senior Adviser (Acting) ..,.,.,."""..",." (416) 585-6'154 Mitchell, Alex, Municipal Adviser. , . . . . , , , , . , , . . .. .., , , , . ., (416) 585-6734 Russell, Ian, Senior Housing Advisor. , . , . " . , . , . . . . , , , ,,' . .. (416) 585-6965 Durham, Peel, Toronto, Hamilton, Halton Simcoe, Niagara, MPMP Finance, Corporate Projects, new Municipal Act, Brownflelds Elections, Restructuring, Municipal Profiles Muskoka, Dufferin, York, FIR, PSAB EASTERN: 8 Estate Lane Rockwood House Kingston ON K7M 9A8 .General Inquiry: (613) 548-4304 Toll Free #: 1-800-267-9438 FAX: (613) 548-6822 1. Voice MaitlDirect #'s: (613)548-4304 Extension #'s: Pine, Jim, Director ",."".".".,...,.,.,...",.,........,.",.,,33 Fabiilli, Vincent, ~anager, Community Plannin~ & Development. , . . , , .. 12 Sleeth, Warren, Manager, Local Government, . , ,. . " . , , , , , ., . , , , . , , ,., 26 Lillis, Joanne, Administrative Coordinatôr .."",.,..,.,.".,.,...,..,., 13 Mathews, Lottaine, Business Support Officer. . . . , , ' , , . , , . , , , , . , . . . , , . " 20 Levac, Angela, Business Support Officer. . ., . . . , , , , . , " , . , , . , . . , . . . . . ., 10 BelzjJe, Richard, Municipal Adviser, , . . " . , , . . . .. . .. .. , , . .... .. . . . . .. -. 17 Elms, Mike, Municipai/Planrung Adviser. . . , .. . .. , .. . , . . , . . . " .. , . .. ... 32 Fath-York,Alison,MllnicipalAdviser"."""""...."."."...,..,..,15 Forster, Rick, Municipal Adviser ....."."",..."."."""".",..,,31 Gregory, Karen, Municipal/Planning Adviser, . , . , , , . . , . . , , . , . . , , .' . . ; . . " 27 Jolmstone,Linda,MunicipaIAdviser.,..,.,.""....,.,.....",..,.....23 Laidman, Sheldon, Municipal/Planning Advisor. " , . , , . , , , , , . , , . , , . . . , " 21 Lienhard,Margo,SeniorPlanner .,.,."".,.,...."....,...."."...., ~4 Maddocks, Bob, Senior MunicipalAdviser ".,.,...."".,..,.,..,.....,28 McDonald, Robert, Assistant Municipal Advisf?r ""'.""""""""'" 35 Mitton, Alida, Acting Senior Planner.. . , . .. , . , , , , .. . .. , , .. .. .. , . . , , . .. 22 Phillips, Mark, Municipai/Planning Advisér ...",.,.",..,.".,."..".. 34 .. Root, David, Municipal Adviser (Acting Senior) ,...,...,...,....,..,.". 29 Simmon~s, DOlma, Senior HousinglMuniCipal Adviser..., . . , . . . . . . , .- . . '" 25 Prescott & Russell, SD & G, Northumberland Lanark, Leeds & Grenville, Ottawa-Carleton, Renfrew, Frontenac Haliburton, Hastings, Lennox & Addington Lennox & Addington, Prescott & Russell, Renfrew Peterborough, Prince Edward, Lamuk .. Haliburton, Hastings, NorthumberJand, Prince Edward Mate~ity Leave ~ May 7/2001 Senior Municipal Advisor, Leeds & Grenville Special Projects - Locål Government Acting Senior Plannèr Frontenac, Peterborough, SD & G Senior Municipal Advisor, Ottawa KawarthaLakes - Planning/Locai Gov, PRMPA .:::J ~~ ~..) . } } :,,~ ':A ~ .,..,~-:-':~,.'"""""":~-:-"~'--~-'_._."'-- "'-'~':":"':~~'~"-~:-:"77'.~""7'"7'L;~~":"",:\", t,:,I:7,i7"~~,~m;¡;-:T,:' """.,-,~;,:, ~ ",;.,;::" ~:. ',', """"~':~,,~:,,,,:::,,~,:, ,-:::~_...;~....-:::-~.."':'.~..~'~.. :'~. 'f I I'fl :,\ I( '/IJ 'j /.. ,<-"Fl' n( ..~:,' (} ,':"/{"'¡:s..' ..; ,'~11 i ,\'/("'/'/) ,f ." '~'/:'I' JI'I"'~/..,L',/JI' ":l,t:"l~l,'~',',!',; ~....' ;',~',';:" :":" "I :';:: ';~, ':;:" ,;;:","" '¡'. ..,', "", ";"':'~':~'. ¡ , '," l:::.J1(llHcd;.I ;i!HH:I!"Y' ,~. ,~, 1,)1) ,:, , ',.. ,'.""",J..,.,.(""',, , """""'"",,, """"""J"""',l'"""""""", "",,,,'Ii"'~""""'"'.I!',....I"...,."~";;.,:,..",;,.",""'...,,""""':¡',,..,,.'"",I,.",,..,..., ",,- I {------~~'::-~-"~~-'" , '\"',1:' ~"'."":":':',.: "':',' ;',~.~'~ .:. ~\ ',:, ~~. ',':' ~;:'::::':'~~','~"',;:.~n";;:~:.':"'~,:!;;i~~::~~~::;:,:,::~':';,~~:;.:"i:~: ;': ':;, :,:',:':';;::,i~::(',~:;~,;\:\~: ~ ;:.:,~::,,~'~¡"'~::t;~~:,;,'::~':,<",,~:, :,," '" '::. ,------",---.; i' -1/\'OO¡:rlcr.; .,' " :';"'" ",,:,~.;t+tï"" ".,', :,,:,,'.:.i;"f,~,'.,',r~I,¡,:'..~\:..'w;' '¡"¡""¡::':"",:",.':"'U~';fOli,"Rr::.\'PO;"\'IU/l,I!} L-.--_..:...:~...:........_~-:.~,-_:,::..::_--,:__..._..,._:,' ,," " '.:. ':""~""~'~:_"" ':"':""':"::~'-~":"'--'~':""':C~~""'..~,":,..~'~"",,:",':,::_':'-",:': :,,:,,':'¡'i..:~"J,~_~.L" ,'" SOUTHWESTERN : 659 Exeter Road, 2nd Floor London ON N6E lL3 "General IoquÎIy; (519) 873-4020 Toll Free #: 1-800-265-4736 ' FAX: (519) 873-4018 Maddox,Jollll,Director ".""".",.,..."........".."..", Howe, Leanne, Administrative Co-ordinator. . , .. . . , . . ~ . . , ' . .. . . Riddell-Carpenter, Lorilee, Business Support Officer. , , , .. , , , . , , BeIlchamber-GlaZier, Jm, Business Supp°I.t Officer. . .. , , '. , " . .. , Beatty, Maureen, Municipal Adviser....,.. .".,. .' "",,"" ~urtis, Bruce, Manager, Community J»Ianning & Development Vacant, Municipa,IAdviser """..,..."""..",.",.".., Hammond, Dan, Municipal Adviser , '.. """""" .." .,.., Moyer, Roger, Mal1ager~ Local Government. . , , , , , , , , , , , , . " Oliver, Scott, MunicipallPlanning Adviser, . . , , , , . . , , , . . . . , ~ . Pol, William, MunicipaJlPlanning Adviser, , . . . , , , , , , , , . , . , , . Ryall, Tim, Municipal Adviser, .. . . , . . , , , . , . .. , . , .. ~ . . . . . .. Scott, Genevieve, Asst. MUI;licipal Adviser, . . . , , . , , . , , . " .. . , , . WilIis,Jal1ice,MunicipaIAdviser".",......,....:",."... , (519) 873-4037 (519) 873-4036 (519) 873-4035 (519) 873-4020 (519) 873-4029 ' (519) 873-4026 (519) 873-4032 (519) 873-4030 (519) 873-4028 (519) 873-4033 (519) 873-4025 (519) 873-4031 (519) 873-4522 (519) 873-4034 ,-' Bruce, Grey. : Large Urban Separated Municipålities 'HaJdim¡;md, Norfolk, Waterloo, Wellington Huron, Oxford, Perth . Large Urban Separated Municipalities Chatham-Ken~ Essex, -HlÚ'on, Lambt<m, Oxford, Perth Brant, HaJdiinand, Norfolk, Middlesex, Waterloo, Wellington Ghatham-~ent, Essex, Lantbton ' Elgin. Brant, Middlesex