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Consolidated Levy Statement of Operations - Quarter 2 Financial Update (2017) (in thousands of dollars)

  Year to Date Annual
Budget Actual Budget vs. Actual Variance Favourable/(Unfavourable) Budget Forecast Budget vs. Forecast Variance Favourable/(Unfavourable)
Expenses
Compensation $179,716 $180,704 -$988 (0.5%) $358,429 $363,561 -$5,132 (1.4%)
Administrative 16,415 14,134 2,280 13.9% 30,595 33,204 -2,609 (8.5%)
Operational & Supply 16,533 16,702 -168 (1.0%) 32,054 32,255 -201 (0.6%)
Occupancy & Infrastructure 13,963 13,401 562 4.0% 27,377 26,832 545 2.0%
Equipment, Vehicles, Technology 6,665 6,460 205 3.1% 13,280 13,480 -200 (1.5%)
Community Assistance 101,601 91,172 10,429 10.3% 199,600 188,345 11,255 5.6%
Partnership, Rebate, Exemption 11,410 6,190 5,220 45.7% 20,308 19,838 470 2.3%
Financial Expenditures 16,915 13,721 3,194 18.9% 57,224 54,411 2,813 4.9%
Total Expenses 363,218 342,484 20,734 5.7% 738,868 731,927 6,941 0.9%
Revenues
Taxation -162,606 -162,974 368 (0.2%) -348,537 -348,461 -76 0.0%
Federal & Provincial Grants -154,384 -144,169 -10,215 6.6% -308,426 -297,110 -11,316 3.7%
By-Law Charges & Sales -7,055 -7,060 5 (0.1%) -15,011 -15,676 665 (4.4%)
Other Revenue -30,851 -33,572 2,721 (8.8%) -62,648 -68,013 5,365 (8.6%)
Total Revenues -354,898 -347,776 -7,122 2.0% -734,623 -729,261 -5,362 0.7%
Intercompany Charges
Intercompany Charges -1,075 -969 -106 9.9% -2,117 -2,011 -106 5.0%
Total Intercompany Charges -1,075 -969 -106 9.9% -2,117 -2,011 -106 5.0%
Net Expenditure (Revenue) Before Transfers & Indirect Allocations 7,246 -6,260 13,506 186.4% 2,128 655 1,473 69.2%
Transfers
Transfers from Funds -13,047 -11,288 -1,760 13.5% -19,021 -23,128 4,107 (21.6%)
Transfers to Funds 27,974 32,941 -4,967 (17.8%) 30,720 38,524 -7,804 (25.4%)
Expense Allocations to Capital -61 -45 -16 26.4% -122 -106 -16 13.2%
Total Transfers 14,865 21,608 -6,743 (45.4%) 11,577 15,290 -3,713 (32.1%)
Indirect Allocations & Debt
Indirect Allocations -2,727 -2,519 -208 7.6% -5,352 -5,408 55 (1.0%)
Capital Financing Allocation -6,204 -6,202 -2 0.0% -8,352 -8,350 -2 0.0%
Total Indirect Allocations & Debt -8,931 -8,721 -210 2.4% -13,705 -13,758 53 0.0%
Net Expenditure (Revenue) After Transfers & Indirect Allocation 13,180 6,627 6,554 49.7% 0 2,187 -2,187 0.0%

Variance Analysis (in thousands of dollars)

Consolidated Levy is year-to-date surplus of $6,764 before indirect allocations and forecasted deficit before indirect allocations of $2,239. The following factors have contributed to these variances:

Compensation

The unfavourable year-to-date and forecasted variance of $988 and $5,132 is a result of NRPS implementation of the new collective agreements and higher than expected number of retirements. This is offset by savings resulting from estimated lower than anticipated usage of health benefits and not filling vacancies or filling vacancies at rates less than budgeted across the corporation.

Administration

The favourable year-to-date variance of $2,280 is primarily due to timing of corporate initiative part due to staff vacancies. The unfavourable forecasted variance $2,608 relates primarily to the estimated cost of legal and insured claims made against the region.

Community Assistance

The favourable year-to-date and forecasted variance of $10,429 and 11,255 relates 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) ($5,267); as well as the timing of children service provider ($2,652) and homelessness contract ($782) payments. This favourable variance is offset by the unfavourable variance in Federal & Provincial Grants.

Partnership, Rebate, Exemption

The favourable year-to-date and forecasted variance of $5,220 and $470 is primarily due to timing difference associated with the economic promotion grant to the city of Welland for the General Electric (GE) plant intersection upgrades on Hwy 140, unspent grants for Waterfront Investment Program and timing of payments on "Smarter Niagara Incentive Program" grants.

Federal & Provincial Grants

The unfavourable year-to-date and forecasted variance of $10,215 and $11,316 is a result of reduced SAEO funding due to reduced payment of benefits, as well as the timing of Children's Services and Homelessness funding. The forecasted unfavourable variance is a primarily a result of reduced SAEO funding due to forecasted reduction in expenditures incurred.

By-Law Charges & Sales

The favourable year-to-date and forecasted variance of $5 and $665 is primarily driven by higher than estimated parent fee contributions for Children's Services.

Other Revenue

The favourable year-to-date and forecasted variance of $2,721 and $5,365 is related primarily to the sale of properties for $3,632K, with net proceeds transferred to the Capital Levy reserve. The forecasted surplus is to anticipate sale of Hainer Street properties, net proceeds to be transferred to the Burgoyne Bridge Project per CSD 27-2017 and investment income being higher than budget.

Transfer to Funds

The unfavourable year-to-date and forecasted variance of $6,743 and $3,713 is mainly a result of $1,513K for the change in classification of Sinking Fund investment and the $3,442 property sale proceeds transferred to the Capital Levy reserve and the Burgoyne Bridge capital project. Forecasted variance is offset by NRPS use of reserves to help fund their deficit.

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