Levy Budget Adjustment Summary - Quarter 2 Financial Update (2016)

Investment Summary Capital Project Forecast Table of Contents

Throughout the year, budget amendments and adjustments are made to reflect revised external funding for levy programs and to reallocate costs between departments or accounts due to operational changes. The primary drivers of the external funding adjustments are Ministry funded programs as they set their budgets following Regional levy budget approval. However, the Ministries want to see these dollars reflected in the Region's levy budget. For this reason, adjusting the gross levy budget throughout the year had been standing practice of the Niagara Region. Adjusting the gross levy budget has no impact on the net tax levy as both external revenue and expenses are increased equally to reflect program requirements. The net tax levy budget is not adjusted.

Below is a summary of gross levy budget adjustments that have been processed to date. Reallocations of costs within departments or categories are not summarized below. The adjusted budget is presented throughout this reporting book.

Adjustments to the Original Gross Revenue & Expenditure Budget

Original Budget Revenue & Expenditures $ 714,438,615  
General Government $85,000 To record budgeted transfer from the Taxpayer Relief Reserve to fund the Niagara Sports Commission (CSD 24-2016).
1,100,000 To reduce budgeted transfer to the Taxpayer Relief Reserve by amount of lost Power Dams revenue (CSD 24-2016).
(1,100,000) To adjust budget for lost Power Dams revenue.
2,600,000 To record budgeted transfer from the Taxpayer Relief Reserve for General Electric Development (CSD 45-2016).
Niagara Regional Housing 784,438 To record transfer from Niagara Regional Housing Reserve utilizing the 2015 surplus (CSD 24-2016).
Total Budget Amendment 3,469,438  
Public Health 620,820 To record deferred funding and related expenditures for the Healthy Kids Community Challenge project.
Community Services 526,138 To increase Ontario Disabilities Support Program Housing Stability Plan for 2015 carry forward funding.
440,000 To adjust budgeted revenue and related expenditures for 100% provincially funded Ontario Works client benefits above original budget.
831,575 To adjust budgeted revenue and related expenditures for various funding from the Ministry of Education (MEDU) within Children's Services.
1,171,485 To increase Wage Enhancement Grant funding and related expenditures, initially based on the 2015 MEDU funding amount.
Public Works 15,000 To adjust budgeted revenue and expenditures for bridge formula inspection service costs reimbursed by carriers.
25,000 To adjust budgeted revenue and expenditures for traffic data collection done on behalf of the City of Niagara Falls.
Niagara Regional Housing 250,000 To record revised funding and related expenditures for years three to five of Investment in Affordable Housing.
50,000 To record revised funding and related expenditures from the Homeownership Revolving Fund to the Welcome Home Niagara program.
927,000 To adjust budgeted revenue and expenditures for Investment in Affordable Housing New Development funding.
Emergency Medical Services 138,000 To adjust funding and related expenditures to reflect Local Health Integration Network revenue changes for psychiatric services.
85,057 To record funding and related expenditures for the Niagara Emergency Medical Services (EMS) Master Plan (CSD 25-2016).
164,200 To record funding and related expenditures for the Community Paramedicine program.
Human Resources 435,000 To adjust transfer from Taxpayer Relief Reserve for Human Resource Program changes approved in initial budget.
Organizational Performance 300,000 To reallocate funding for the Forensic Audit of Burgoyne Bridge from the Burgoyne Bridge project budget.
Corporate 3,232,687 To reallocate funding for the Forensic Audit of Burgoyne Bridge from the Burgoyne Bridge project budget.
Total Budget Adjustment 9,211,962  
December 31, 2016 Adjusted Budget $ 727,120,015  
Investment Summary Capital Project Forecast Table of Contents
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