COVID-19 - Niagara is under a provincewide stay-at-home order. Learn about the COVID-19 vaccination and service disruptions.

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
Page Feedback Did you find what you were looking for today?