Reserves/Deferred Revenue Summary - Quarter 2 Financial Update (2017)
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, 2016 | Year to Date Net Transfers from Operating | Year to Date Transfers to Operating | Year to Date Transfers from/(to) Capital | Balance at June 30, 2017 | Forecasted Net Transfers from Operating | Forecasted Transfers to Operating | Capital Commitments * | Forecasted Interest Income | Balances Available at December 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Wastewater Capital | 42,611 | 17,559 | (286) | (17,866) | 42,019 | 10,368 | (9,747) | (500) | $103 | $ 42,244 |
| Water Capital | 67,816 | 10,280 | (150) | (17,087) | 60,859 | 9,757 | (150) | (500) | $184 | $70,150 |
| Waste Management | 21,308 | 2,118 | - | (4,103) | 19,324 | 2,002 | - | (1,845) | $55 | $19,536 |
| General Capital Levy | 24,846 | 17,815 | (1,550) | (32,773) | 8,338 | 2,053 | (1,600) | (2,735) | - | $ 6,056 |
| Infrastructure Deficit | 3,251 | - | 3,251 | - | - | - | - | $ 3,251 | ||
| Court Services Facility Renewal | 1,650 | - | - | - | 1,650 | - | - | (860) | - | $790 |
| Niagara Regional Housing | 7,743 | - | (77) | - | 7,666 | - | (153) | (2,653) | - | $ 4,860 |
| NRH Owned Units | 3,941 | 198 | (100) | (1,069) | 2,970 | 198 | (100) | - | $ 3,068 | |
| NRPS Long-Term Accomodation (LTA) Financing | 1,299 | 4,153 | (2,209) | - | 3,243 | - | (2,059) | (1,759) | - | $ (575) |
| Ontario Police Video Training Alliance | 31 | - | - | - | 31 | - | - | - | $31 | |
| Police Capital Levy | 1,634 | 1,000 | - | (1,202) | 1,432 | - | - | (400) | - | $ 1,032 |
| Police Vehicle and Equipment Replacement | 524 | 1,400 | - | (1,700) | 224 | - | - | - | $224 | |
| Total Capital Reserves | 173,402 | 57,775 | (4,371) | (75,800) | 151,005 | 24,380 | (13,809) | 11,252) | $342 | $150,666 |
| Wastewater Stabilization | 6,666 | 25 | (72) | - | 6,620 | - | (72) | $16 | $ 6,564 | |
| Water Stabilization | 3,958 | 15 | - | - | 3,973 | - | - | $10 | $ 3,983 | |
| Waste Management Stabilization | 2,337 | 9 | - | - | 2,346 | - | - | $ (9) | $ 2,337 | |
| Landfill Liability | 2,000 | - | - | - | 2,000 | - | - | - | $ 2,000 | |
| Encumbrance | 15,067 | - | (13,467) | - | 1,600 | - | (1,600) | - | $ (0) | |
| Investment Income Stabilization | 295 | - | (75) | - | 220 | - | (75) | - | $145 | |
| Taxpayer Relief | 25,289 | - | (742) | (708) | 23,839 | 850 | (742) | - | $23,947 | |
| NRH Rent Supplements | 326 | - | (12) | - | 314 | - | (12) | - | $302 | |
| Police Contingency | (166) | 2,832 | - | - | 2,666 | - | (2,666) | - | $ 0 | |
| Police Services Board Contingency | 245 | - | - | - | 245 | - | - | - | $245 | |
| Total Corporate Stabilization Reserves | 56,018 | 2,880 | (14,368) | (708) | 43,823 | 850 | (5,166) | - | $17 | $39,524 |
| Ambulance Communication | 1,363 | - | (22) | (45) | 1,297 | (22) | - | $ 1,275 | ||
| Circle Route Initiatives | 1,383 | - | (50) | - | 1,333 | (50) | - | $ 1,283 | ||
| Total Specified Contribution Reserves | 2,746 | - | (72) | (45) | 2,630 | - | (72) | - | - | $ 2,558 |
| Future Benefit Costs | 25,195 | - | (100) | - | 25,095 | 100) | - | $ 24,995 | ||
| Self Insurance | 2,270 | - | - | - | 2,270 | - | - | $ 2,270 | ||
| Smart Growth | 2,074 | - | (588) | - | 1,486 | (588) | - | $899 | ||
| NRH Employee future benefits | 793 | - | - | - | 793 | - | - | $793 | ||
| Police Accumulated Sick Leave | 2,705 | - | (225) | - | 2,480 | (700) | - | $ 1,780 | ||
| Police Future Benefit Cost | 5,152 | - | - | - | 5,152 | (1,000) | - | $ 4,152 | ||
| Police WSIB | 2,670 | 200 | - | - | 2,870 | - | - | $ 2,870 | ||
| Total Future Liability Reserves | 40,859 | 200 | (913) | - | 40,146 | - | (2,388) | - | - | $37,759 |
| Total (Excluding Deferred Revenues) | 273,025 | 60,855 | (19,723) | (76,553) | 237,604 | 25,230 | (21,434) | (11,252) | $359 | $ 230,507 |
Deferred Revenues (Development Charges & Gas Tax Reserve Funds) (in thousands of dollars)
| Description | Balances at December 31, 2016 | Year to Date Transfers from Revenues | Year to Date Net Transfers to Operating | Year to Date Transfers from/(to) Capital | Balance at June 30, 2017 | Due From External Parties | Capital Commitments | Balances Available at December 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Development Charges-General Government | 656 | 105 | (73) | - | 688 | 54 | (27) | 715 |
| Development Charges-Police Services | 2,547 | 324 | - | - | 2,871 | 174 | (2,700) | 345 |
| Development Charges-Roads | 35,700 | 2,325 | - | (3,167) | 34,859 | 3,235 | (23,207) | 14,886 |
| Development Charges-Sewer | 22,746 | 3,662 | (331) | (585) | 25,492 | 2,124 | (5,486) | 22,130 |
| Development Charges-Water | 16,456 | 1,182 | - | (631) | 17,008 | 618 | (10,821) | 6,805 |
| Development Charges-Emergency Medical | 714 | 86 | - | 799 | 48 | (858) | (11) | |
| Federal Gas Tax | 11,108 | 274 | - | (2,746) | 8,636 | 13,114 | (21,078) | 672 |
| Provincial Gas Tax | 1,073 | 769 | (402) | 1,440 | (535) | 905 | ||
| Total | 91,000 | 8,728 | (806) | (7,129) | 91,793 | 19,367 | (64,712) | 46,448 |
Development Charge Revenues (in thousands of dollars)
| 2016 Actuals | 2017 (January - June) | |||
|---|---|---|---|---|
| Gross Development Charge Revenues | 27,537 | 15,037 | ||
| Less: Discretionary exemptions (Forgone Revenue) | (2,087) | 7.6% | (1,392) | 9.3% |
| Net Development Charge Revenues * | 25,450 | 92.4% | 13,645 | 90.7% |
* Development charge revenues are deposited to the reserve funds above.
Non-Profit Grant Applications
| Approved | |
|---|---|
| Habitat for Humanity - Welland | 10 |
| Habitat for Humanity - Fort Erie | 10 |
| Habitat for Humanity - Niagara Falls | 13 |
| Habitat for Humanity - Grimsby | 10 |
| Niagara Short Hills Christian Ministries | 6 |
| Christian Hotel Ministries | 6 |
| Wellspring Niagara Cancer Support | 65 |
| 122 | |
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