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Reserves/Deferred Revenue Summary - Quarter 4 Financial Update (2016)

Reserve Summary (in thousands of dollars)

*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.

Description Balances at December 31, 2015 Year to Date Net Transfers from/(to) Operating Year to Date Transfers from/(to) Capital Interest Year-end Transfers Balance at December 31, 2016 Capital Commitments* Balance Available at December 31, 2016
Wastewater Capital $45,199 $19,088 $(21,746) $70 $- $42,611 $(500) $42,111
Water Capital 69,801 19,215 (22,706) 145 1,361 67,816 (500) 67,316
Waste Management 23,558 3,198 (5,493) 46 21,308 (1,845) 19,463
General Capital Levy 26,086 23,780 (25,020) - 24,846 (2,150) 22,696
Court Services Facility Renewal 2,408 599 (1,357) - 1,650 (860) 790
Niagara Regional Housing 10,233 (1,178) (2,037) - 724 7,743 (861) 6,881
NRH Owned Units 2,932 1,707 (698) - 3,941 - 3,941
NRPS Long-Term Accomodation (LTA) Financing 2,653 (1,354) - - 1,299 (1,759) (460)
Ontario Police Video Training Alliance 38 - - - (7) 31 - 31
Police Capital Levy 2,138 1,000 (1,304) - (200) 1,634 (400) 1,234
Police Vehicle and Equipment Replacement 523 1,400 (1,399) - 524 - 524
Total Capital Reserves 185,569 67,454 (81,760) 261 1,878 173,402 (8,876) 164,526
Wastewater Stabilization 6,065 - - 14 588 6,666 - 6,666
Water Stabilization 3,949 - - 9 3,958 - 3,958
Waste Management Stabilization - - - - 2,337 2,337 - 2,337
Landfill Liability - - - - 2,000 2,000 - 2,000
Encumbrance 10,671 4,396 - - 15,067 - 15,067
Investment Income Stabilization 485 (190) - - 295 - 295
Taxpayer Relief 29,550 (4,385) (1,705) - 1,829 25,289 - 25,289
NRH Rent Supplements 342 (24) - - 8 326 - 326
Police Contingency 1,289 880 - - (2,335) (166) - (166)
Police Services Board Contingency 339 - - - (94) 245 - 245
Total Corporate Stabilization Reserves $ 52,691 $ 677 $ (1,705) $ 23 $ 4,332 $ 56,018 $ - $ 56,018
Ambulance Communication 1,535 (172) - - $ 1,363 $ - $ 1,363
Circle Route Initiatives 1,383 - - - 1,383 - 1,383
Total Specified Contribution Reserves 2,918 (172) - - - 2,746 - 2,746
Future Benefit Costs 25,395 (200) - - 25,195 - 25,195
Self Insurance 2,270 - - - 2,270 - 2,270
Smart Growth 2,074 - - - 2,074 - 2,074
NRH Employee future benefits 793 - - - 793 - 793
Police Accumulated Sick Leave 3,105 (400) - - 2,705 - 2,705
Police Future Benefit Cost 4,765 712 - - (325) 5,152 - 5,152
Police WSIB 2,670 - - - 2,670 - 2,670
Total Future Liability Reserves 41,071 112 - - (325) 40,859 - 40,859
Total (Excluding Deferred Revenues) $ 282,249 $ 68,072 $ (83,465) $ 284 $ 5,885 $ 273,025 $ (8,876) $ 264,149

Deferred Revenues (Development Charges & Gas Tax Reserve Funds)(in thousands of dollars)

* 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.

Description Balances at December 31, 2015 Year to Date Net Transfers from/(to) Operating Year to Date Transfers from/(to) Capital Year-end Transfers Balance at December 31, 2016 Due from Area Municipalities Capital Commitments* Balance Available at December 31, 2016
Development Charges-General Government $ 713 $ (57) $ - $ - $ 656 $ 24 $ (27) $ 653
Development Charges-Police Services 1,815 732 - - 2,547 79 (2,700) (74)
Development Charges-Roads 28,524 13,328 (6,152) - 35,700 1,449 (10,384) 26,765
Development Charges-Sewer 19,143 8,030 (4,427) - 22,746 927 (4,560) 19,113
Development Charges-Water 16,945 2,508 (2,997) - 16,456 272 (1,953) 14,776
Development Charges-Emergency Medical 541 173 - - 714 21 - 735
Federal Gas Tax 8,251 13,165 (10,308) - 11,108 - (10,724) 384
Provincial Gas Tax 762 (39) 350 - 1073 - (90) 983
Total $ 76,694 $ 37,840 $ (23,534) $ - $ 91,000 $ 2,774 $ (30,348) $ 63,335

Development Charge Revenues (in thousands of dollars)

  2015 Actuals 2016 (January - December)
Gross Development Charge Revenues 21,590   27,537 
Less: Discretionary exemptions (Forgone Revenue) (1,047) 4.8% (2,087) 7.6%
Net Development Charge Revenues * 20,543 95.2% 25,450 92.4%

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

Non-Profit Grant Applications (in thousands of dollars)

Approved
Habitat for Humanity - Fort Erie $ 10
Habitat for Humanity - Niagara Falls 10
Community Care for West Niagara $ 18
Sixty Plus (St. Catharines) Residents Inc. $ 112
  $ 150
Rejected
None  
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