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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