Consolidated Levy - Quarter 4 Financial Update (2016)
| Year to Date (in thousands of dollars) | |||||
|---|---|---|---|---|---|
| Budget | Actual | Budget vs Actual Variance Favourable/(Unfavourable) |
|||
| Expenses | |||||
| Compensation | $351,089 | $356,158 | $(5,069) | (1.4%) | |
| Administrative | 30,993 | 28,671 | 2,322 | 8.1% | |
| Operational & Supply | 30,672 | 29,365 | 1,308 | 4.5% | |
| Occupancy & Infrastructure | 26,723 | 26,586 | 137 | 0.5% | |
| Equipment, Vehicles, Technology | 13,588 | 13,390 | 198 | 1.5% | |
| Community Assistance | 192,302 | 178,470 | 13,832 | 7.8% | |
| Partnership, Rebate, Exemption | 18,778 | 14,122 | 4,656 | 33.0% | |
| Financial Expenditures | 46,593 | 48,535 | (1,942) | (4.0%) | |
| Total Expenses | 710,738 | 695,296 | 15,442 | 2.2% | |
| Revenues | |||||
| Taxation | (338,300) | (339,414) | 1,114 | (0.3%) | |
| Federal & Provincial Grants | (297,321) | (283,751) | (13,571) | 4.8% | |
| By-Law Charges & Sales | (13,895) | (15,157) | 1,263 | (8.3%) | |
| Other Revenue | (61,042) | (65,008) | 3,966 | (6.1%) | |
| Total Revenues | (710,558) | (703,330) | (7,228) | 1.0% | |
| Intercompany Charges | |||||
| Intercompany Charges | (2,000) | (1,916) | (84) | 4.4% | |
| Total Intercompany Charges | (2,000) | (1,916) | (84) | 4.4% | |
| Net Expenditure (Revenue) Before Transfers & Indirect Allocations | (1,821) | (9,950) | 8,129 | (81.7%) | |
| Transfers | |||||
| Transfers from Funds | (19,244) | (18,993) | (251) | 1.3% | |
| Transfers to Funds | 35,888 | 44,440 | (8,552) | (19.2%) | |
| Expense Allocations to Capital | (203) | (147) | (56) | 37.9% | |
| Total Transfers | 16,442 | 25,301 | (8,859) | (35.0%) | |
| Indirect Allocations & Debt | |||||
| Indirect Allocations | (5,236) | (5,577) | 341 | (6.1%) | |
| Capital Financing Allocation | (9,385) | (9,373) | (12) | 0.1% | |
| Total Indirect Allocations & Debt | (14,621) | (14,950) | 329 | (2.2%) | |
| Net Expenditure (Revenue) After Transfers & Indirect Allocation | $- | $401 | $(401) | (100.0%) | |
Variance Analysis (in thousands of dollars)
Consolidated Levy operated at a deficit after indirect allocations of $401. The following factors have contributed to this deficit:
Compensation
The unfavourable variance of $5,069 is a result of NRPS increased demand for Special Duty services, the cost of back filling operationally essential civilian positions and other NRPS compensation costs, in addition to Niagara Regional department payouts associated to the previous administration for the termination of employees. This is 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 variance of $2,322 relates primarily to the timing of consulting contracts, offset by the unbudgeted change in the estimate of legal claims pending at the end of 2016.
Community Assistance
The favourable variance of $13,832 relates primarily 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 variance of $4,656 is primarily due to the timing of grant payments associated with the General Electric related road and intersection improvements and Waterfront Investment Program, as well as the Tax Increment grants being lower than budgeted.
Federal & Provincial Grants
The unfavourable variance of $13,571 is primarily a result of reduced Social Assistance funding due to reduced expenditures incurred, partially offset by unbudgeted funding from the Ministry of Health and Long-Term Care for Seniors Services related to the new nursing graduate program and high intensity needs claims, as well as unbudgeted Homelessness funding related to the Point in Time count.
By-Law Charges & Sales
The favourable variance of $1,263 is primarily due to the increase in the demand for Niagara Regional Police Special Duty services and an increase to other revenue for recoverable services.
Other Revenue
The favourable variance of $3,966 is primarily due to the sale of surplus properties of $2,194 and investment income being $1,598 higher than anticipated.
Transfer to Funds
The unfavourable variance of $8,552 relates to the 2016 encumbrances of $6,875 and the proceeds from the sale of surplus properties which were transferred to reserves.
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