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Q3 Financial Update Consolidated Levy - Statement of Operations
(in thousands of dollars)

  Year to Date Annual
Budget Actual Variance Budget Forecast Variance
Expenses
Compensation $263,878 $264,128 $(250) (0.1%) $351,182 $355,600 $(4,418) (1.3%)
Administrative 23,544 19,144 4,400 18.7% 30,834 29,023 1,811 5.9%
Operational & Supply 32,340 30,988 1,352 4.2% 44,316 44,817 (502) (1.1%)
Occupancy & Infrastructure 20,092 19,350 742 3.7% 26,723 26,698 26 0.1%
Equipment, Vehicles, Technology 10,107 9,918 190 1.9% 13,468 13,110 359 2.7%
Community Assistance 133,335 123,867 9,468 7.1% 177,545 168,372 9,173 5.2%
Partnership, Rebate, Exemption 13,922 9,021 4,901 35.2% 18,778 19,408 (630) (3.4%)
Financial Expenditures 38,994 38,301 692 1.8% 46,593 46,571 23 0.0%
Total Expenses 536,211 514,718 21,494 4.0% 709,440 703,599 5,841 0.8%
Revenues
Taxation (325,899) (325,849) (50) 0.0% (338,300) (338,898) 598 (0.2%)
Federal & Provincial Grants (222,277) (214,759) (7,518) 3.4% (296,979) (287,773) (9,206) 3.1%
By-Law Charges & Sales (10,421) (10,816) 395 (3.8%) (13,895) (14,563) 668 (4.8%)
Other Revenue (44,439) (48,420) 3,981 (9.0%) (60,079) (62,832) 2,753 (4.6%)
Total Revenues (603,037) (599,844) (3,192) 0.5% (709,252) (704,066) (5,186) 0.7%
Intercompany Charges
Intercompany Charges (1,495) (1,447) (48) 3.2% (2,000) (1,947) (54) 2.7%
Total Intercompany Charges (1,495) (1,447) (48) 3.2% (2,000) (1,947) (54) 2.7%
Net Expenditure (Revenue) Before Transfers & Indirect Allocations (68,321) (86,574) 18,254 (26.7%) (1,813) (2,414) 601 (33.1%)
Transfers
Transfers from Funds (14,566) (14,161) (405) 2.8% (19,244) (20,631) 1,387 (7.2%)
Transfers to Funds 24,104 24,068 36 0.1% 35,881 35,604 277 0.8%
Expense Allocations to Capital (152) (110) (42) 27.4% (203) (161) (42) 20.5%
Total Transfers 9,386 9,797 (411) (4.4%) 16,434 14,812 1,623 9.9%
Indirect Allocations & Debt
Indirect Allocations (3,937) (3,979) 42 (1.1%) (5,236) (5,522) 286 (5.5%)
Capital Financing Allocation (8,311) (8,304) (7) 0.1% (9,385) (9,373) (12) 0.1%
Total Indirect Allocations & Debt (12,249) (12,284) 35 (0.3%) (14,621) (14,895) 274 (1.9%)
Net Expenditure (Revenue) After Transfers & Indirect Allocation $(71,183) $(89,061) $17,878 (25.1%) $- $(2,498) $2,498 0.0%

Variance Analysis (in thousands of dollars)

Compensation

The unfavourable forecasted variance of $4,418 is a result of payouts and employee benefits for retirees, increased demand for Special Duty services and the cost of back filling operationally essential civilian positions within Niagara Regional Police, offset by savings resulting from lower than anticipated usage of winter seasonal employment and not filling vacancies or filling vacancies at rates less than budgeted across the corporation.

Administrative

The favourable year-to-date variance of $4,400 is a result of the timing of consulting contracts including: the review of benefit tendering, advocacy support, value for money audits, forensic audit, and employee engagement; GO Hub & Transit Station Study; Municipal Comprehensive Review; and Growth Analytics/New Urban Structure and District Plans; as well the timing of self-insurance claim payouts and some contracted professional services not being required as services were delivered with in house resources. The favourable forecasted variance of $1,811 relates primarily to the Green Shield employee group health and dental plans 2016 net surplus which is based on actual claims experienced during the year, in addition to consulting costs anticipated to be less than budgeted at year-end or deferred to post 2016.

Community Assistance

The favourable year-to-date variance and forecasted variances of $9,468 and $9,173 are related to the Ontario Works caseloads and changing demands for allowances and benefits based on case mix (i.e. single vs. families, with singles eligible for less financial support). Expenditures fluctuate based on client participation in employment programs and demands for specific benefits.

Partnership, Rebate, Exemption

The favourable year-to-date variance of $4,901 is primarily due to the timing of grant payments associated with the Smarter Niagara Incentive, the GE "brilliant" manufacturing facility, Waterfront Investment and Niagara Investment in Culture programs, as well as the timing of Development Charge Grants, Tax Increment Funding. All grants are anticipated to be issued by the end of the year.

Federal & Provincial Grants

The unfavourable year-to-date and forecasted variance of $7,518 and $9,206 are a result of reduced Social Assistance funding due to reduced expenditures incurred, partially offset by unbudgeted Senior Services funding related to the new nursing graduate program, unbudgeted high intensity needs claims from the Ministry of Health and Long-Term Care and unbudgeted Homelessness funding related to the Point in Time count.

Other Revenue

The favourable year-to-date and forecasted variances of $3,981 and $2,753 are primarily due to investment income being higher than anticipated, an increase in long-term care co-payments for accommodation fees and proceeds from the sale of fleet assets.

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