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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
Transfer from reserve to fund a temporary full-time position (PDS 4-2017)

(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
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