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Reserves/Deferred Revenue Summary - Quarter 2 Financial Update (2016)

Revenue Summary

The capital commitments included represent all approved capital project expenditures budgeted to be funded by development charges and/or federal/provincial gas tax. Each quarter and/or year end a review of the status of the respective capital projects is completed and revenue earned is allocated accordingly.

Note: Reserve balances above do not include any transfers that may occur as a result of 2016 surplus/deficit identified throughout this booklet.

Description Balances at December 31, 2015 Year to Date Net Transfers from/(to) Operating Year to Date Transfers from/(to) Capital Balances at June 30, 2016 Forecasted Net Transfers from/(to) Operating Capital Commitments * Forecasted Interest Income Balance Available at December 31, 2016
Wastewater Capital $ 45,199,496 $ 11,343,280 $ 4,253,779 $ 60,796,555 $ 6,393,279 $ (27,580,000) $ 223,266 $ 39,833,100
Water Capital 69,800,903 9,607,256 5,473,546 84,881,704 9,607,256 (25,480,000) 365,426 69,374,386
Waste Management 23,557,923 1,598,988 881,790 26,038,700 1,598,988 (8,220,150) 113,136 19,530,674
General Capital Levy 26,085,687 12,899,299 4,341,879 43,326,865 9,797,198 (24,081,843) - 29,042,221
Court Services Facility Renewal 2,408,388 - - 2,408,388 598,542 (1,650,000) - 1,356,930
Niagara Regional Housing 10,233,369 (588,869) - 9,644,500 (588,871) (2,898,000) - 6,157,629
NRH Owned Units 2,932,357 534,298 - 3,466,655 404,297 (743,595) - 3,127,357
NRPS Long-Term Accomodation (LTA) Financing 2,653,037 882,065 - 3,535,102 (2,235,830) - - 1,299,272
Ontario Police Video Training Alliance 37,882 - - 37,882 - - - 37,882
Police Capital Levy 2,137,608 1,000,000 - 3,137,608 - (1,767,500) - 1,370,108
Police Vehicle and Equipment Replacement 522,528 1,400,000 - 1,922,528 - (1,400,000) - 522,528
Total Capital Reserves 185,569,179 38,676,316 14,950,994 239,196,489 25,574,859 (93,821,088) 701,828 171,652,088
Wastewater Stabilization 6,064,579 - - 6,064,579 - - 31,931 6,096,510
Water Stabilization 3,949,029 - - 3,949,029 - - 20,792 3,969,821
Encumbrance 10,671,424 (10,671,424) - - - - - -
Investment Income Stabilization 485,261 (95,046) - 390,215 (95,046) - - 295,169
Taxpayer Relief 29,549,646 1,657,434 - 31,207,080 (5,878,006) (1,704,885) - 23,624,189
NRH Rent Supplements 342,425 (12,000) - 330,425 (12,000) - - 318,425
Police Contingency 1,289,014 880,000 - 2,169,014 - - - 2,169,014
Police Services Board Contingency 339,228 - - 339,228 - - - 339,228
Total Corporate Stabilization Reserves 52,690,606 (8,241,036) - 44,449,570 (5,985,052) (1,704,885) 52,723 36,812,356
Ambulance Communication 1,534,890 (151,266) - 1,383,624 (29,056) - - 1,354,568
Circle Route Initiatives 1,382,681 - - 1,382,681 - - - 1,382,681
Total Specified Contribution Reserves 2,917,571 (151,266) - 2,766,305 (29,056) - - 2,737,249
Future Benefit Costs 25,395,179 (200,000) - 25,195,179 - - - 25,195,179
Self Insurance 2,269,819 - - 2,269,819 - - - 2,269,819
Smart Growth 2,073,582 - - 2,073,582 - - - 2,073,582
NRH Employee future benefits 792,733 - - 792,733 - - - 792,733
Police Accumulated Sick Leave 3,105,289 (400,000) - 2,705,289 - - - 2,705,289
Police Future Benefit Cost 4,765,066 712,332 - 5,477,398 - - - 5,477,398
Police WSIB 2,669,590 - - 2,669,590 - - - 2,669,590
Total Future Liability Reserves 41,071,258 112,332 - 41,183,590 - - - 41,183,590
Total (Excluding Deferred Revenues) $ 282,248,614 $ 30,396,346 $ 14,950,994 $ 327,595,954 $ 19,560,751 $ (95,525,973) $ 754,550 $ 252,385,283

Deferred Revenues (Development Charges & Gas Tax Reserve Funds)

Description Balances at December 31, 2015 Year to Date Net Transfers from/(to) Operating Year to Date Transfers from/(to) Capital Forecasted Net Transfers from/(to) Operating Forecasted Due From Area Municipalities Capital Commitments * Forecasted Interest Income Balance Available at December 31, 2016
Development Charges-General Government $ 713,157 $ 70,741 - $ (307,989) $ 21,118 $ (28,641) $7,385 $475,770
Development Charges-Police Services 1,814,558 231,552 - 253,079 67,216 - 26,131 2,392,536
Development Charges-Roads 28,523,946 4,631,728 - 5,477,553 1,454,811 (21,348,035) 295,400 19,035,402
Development Charges-Sewer 19,142,946 2,562,416 - 1,744,027 848,318 (9,683,306) 210,983 14,825,385
Development Charges-Water 16,945,422 764,382 - 471,167 244,658 (5,024,373) 189,667 13,590,923
Development Charges-Emergency Medical 540,821 61,611 - 74,663 19,830 - 7,736 704,660
Federal Gas Tax 8,251,138 - (4,489,646) 13,114,292 - (16,542,371) 53,653 387,066
Provincial Gas Tax 761,987 189,653 - - - (540,000) 7,335 418,975
Total $ 76,693,974 $ 8,512,083 $ (4,489,646) $ 20,826,792 $ 2,655,951 $ (53,166,726) $ 798,290 $ 51,830,717

Development Charge Revenues

  2015 Actuals 2016 (January - June)
Gross Development Charge Revenues 21,589,633  12,508,284 
Less: Discretionary exemptions (Forgone Revenue) (1,047,012) 4.8% (1,553,475) 12.4%
Net Development Charge Revenues * 20,542,621 95.2% 10,954,809 87.6%

* Development charge revenues are deposited to the reserve funds above.

Non-Profit Grant Applications

Approved
Habitat for Humanity - Fort Erie $ 10,313
Habitat for Humanity - Niagara Falls 10,313
  $ 20,626
Rejected
None  
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