Reserve Transfer Reconciliation - Quarter 2 Financial Update (2017)
Operating Reserve Transfer Reconciliation (in thousands of dollars)
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 (i.e 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.
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 | 60,256 | |
| Additional operating transfers to/(from) reserves | ||
|---|---|---|
| General Capital Levy Reserve Proceeds on surplus properties goes to the General Capital Levy Reserve. Additional transfer to reserve to match actual proceeds. |
3,655 | |
| Niagara Regional Housing Transfer from reserve for one-time operating costs (CSD 14-2017). |
(77) | |
| Encumbrance Reserve 2016 Encumbrances (CSD 14-2017) |
(13,467) | |
| Rate Reserves Transfers To reallocate proceeds and cost to reserve accounts |
322 | |
| Circle Route Initiatives Transfer from reserve to fund a temporary full-time position (PDS 4-2017) |
(50) | (9,617) |
| Forecasted operating transfers to/(from) reserves (to be approved in the year-end transfer report) | ||
| General Capital Levy Reserve Proceeds on surplus properties goes to the General Capital Levy Reserve. Additional transfer to reserve to match actual proceeds. |
816 | |
| Niagara Regional Housing Transfer from reserve for one-time operating costs (CSD 14-2017). |
(153) | |
| Encumbrance Reserve 2016 Encumbrances (CSD 14-2017) |
(1,600) | |
Circle Route Initiatives |
(50) | |
| Police Contingency Use of police reserves for compensation costs. |
(2,666) | |
| Police Accumulated Sick Leave Use of police reserves for compensation costs. |
(700) | |
| Police Future Benefit Cost Use of police reserves for compensation costs. |
(1,000) | (5,353) |
| Net operating transfers to reserves | 45,286 | |
Capital Reserve Transfer Reconciliation (in thousands of dollars)
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 (i.e 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 2016 Capital Budget Items (Capital Commitments) at December 31, 2016 | $ 8,876 | |
| 2017 Council Approved Capital Budget | $ 117,901 | |
| Less: Deferred Revenues | (39,863) | 78,038 |
| Total Planned Capital Reserve Transfers | 86,914 | |
| Transfer from Reserve approved per CSD 20-2017 | 1,791 | |
| Budget Reductions for Uninitiated Projects | (900) | |
| Total Forecasted Capital Reserve Transfers | $ 87,805 | |
© Niagara Region - 1815 Sir Isaac Brock Way, Thorold, ON, L2V 4T7 - Phone: 905-980-6000, Toll-free: 1-800-263-7215
