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Q3 Financial Update Reserve Transfer Reconciliation -
(in thousands of dollars)

Operating Reserve Transfer Reconciliation

All transfers to and from Reserves and Reserve Funds are identified in an approved annual budget (operating or capital) unless they are inflows received in a Reserve Fund from an outside source (such as development charges, gas tax receipts). A new requirement in the reserve and reserve funds policy requires a report outlining any year to date or forecasted inflows and outflows that were not included in the Council approved annual budget.

Below is a summary of transfers to and from reserve and reserve funds not approved in the initial annual budget.


Council approved net operating transfers to reserves   $ 66,886
Additional operating transfers to/(from) reserves
Encumbrance Reserve
2015 Encumbrances (CSD 26-2015), net of unspent 2015 Combined Sewer Overflow (CSO) funding to be transferred to operating as it is spent.
$ (4,259)  
Taxpayer Relief Reserve
Transfer for Industrial and Gateway Regional Development Charge Grant programs in support of the General Electric (GE) development (CSD 45-2016)
(2,500)  
Taxpayer Relief Reserve
Grant to the City of Welland for the Region's contribution to road and intersection improvements related to the GE development (CSD 45-2016)
(1,500)  
Taxpayer Relief Reserve
Funding for the Niagara Sports Commission (CSD 24-2016)
(85)  
Taxpayer Relief Reserve
Lost Power Dams revenue resulting in a reduction in the reserve contribution
(1,100)  
Taxpayer Relief Reserve
Transfer from reserve to fund changes to the Human Resource Program since budget approval
(435)  
Taxpayer Relief Reserve
Niagara Emergency Medical Services (EMS) Master Plan CSD (25-2016)
(85)  
Niagara Regional Housing
Transfer from reserve to utilize the 2015 Niagara Regional Housing surplus (CSD 24-2016)
(784)
Wastewater Capital Reserve
Transfer from reserve to fund 2016 CSO projects.
(1,718)
General Capital Levy Reserve
Proceeds on surplus properties goes to the General Capital Levy Reserve. Adjustment to match actual proceeds
71  
Total additional operating transfers to/(from) reserves (12,396)
Forecasted operating transfers to/(from) reserves (to be approved in the year-end transfer report)
General Capital Levy
Offset of the debt charge placeholder to match forecasted debt costs
(241)  
NRPS LTA Financing Reserve
To accommodate interest accrual on NRP LTA debt issuance
(23)  
NRPS LTA Financing Reserve
Reduce occupancy costs due to delay in the move to new NRPS HQ.
404  
Police Contingency
Use of Police Contingency for compensation costs.
(2,397)  
Ambulance Communication Reserve
Fewer than expected expenditures year to date related to Omega Project have reduced the contribution from the reserve
71  
Wastewater Capital Reserve
Transfer from reserve for 2016 Combined Sewer Overflow funding.
(4,341)  
Future Benefit Cost Reserve
Transfer back to reserve for unspent consulting.
11  
Taxpayer Relief Reserve
Transfer back to reserve for unspent consulting.
250  
Taxpayer Relief Reserve
Unbudgeted funding received from the Ministry of Health and Long-term Care for Emergency Services therefore reduced contribution from the reserve
288
Total Forecasted operating transfers to/(from) reserves (5,978)
Net operating transfers to reserves   $ 48,513

Capital Reserve Transfer Reconciliation

All transfers to and from Reserves and Reserve Funds are identified in an approved annual budget (operating or capital) unless they are inflows received in a Reserve Fund from an outside source (such as development charges, gas tax receipts).

A new requirement in the reserve and reserve funds policy requires a report outlining any year to date or forecasted inflows and outflows that were not included in the Council approved annual budget. Below is a summary of transfers to and from reserve and reserve funds not approved in the initial annual budget.

Planned Capital Reserve Transfers
Uninitiated 2015 Capital Budget Items (Capital Commitments) at December 31, 2015   $ 12,498
2016 Council Approved Capital Budget $ 107,862  
Less: Deferred Revenues type Reserve Fund Transfers (22,838) 85,024
Total Planned Capital Reserve Transfers   97,522
Unplanned Capital Reserve Transfers
Unused Capital Reserve Funding Transferred back to Reserve per CSD 57-2015
General Capital Levy (4,342)  
Water Capital (3,416)  
Wastewater Capital (3,581)  
Waste Management (821) (12,160)
Unused Capital Reserve Funding Transferred back to Reserve per CSD 01-2016
Water Capital (2,057)  
Wastewater Capital (673)  
Waste Management (61)  
Police 18 (2,773)
Transfer From Reserve Approved per CSD 45-2016
General Capital Levy 1,700  
Water Capital 3,200 4,900
Budget reduction for uninitiated project   (3,627)
Total Forecasted Capital Reserve Transfers   $ 83,863
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