|Year to Date||Annual|
|Budget||Actual||Budget vs. Actual Variance Favourable/(Unfavourable)||Budget||Forecast||Budget vs. Forecast Variance Favourable/(Unfavourable)|
|Operational & Supply||283||0||283||100.0%||565||0||565||100.0%|
|Occupancy & Infrastructure||527||28||499||94.6%||554||565||-10||(1.8%)|
|Partnership, Rebate, Exemption||2,708||1,617||1,090||40.3%||5,906||6,225||-319||(5.4%)|
|By-Law Charges & Sales||-40||-6||-34||84.0%||-80||-46||-34||42.0%|
|Total Intercompany Charges||-54||-47||-7||13.2%||-108||-108||0||(0.0%)|
|Net Expenditure (Revenue) Before Transfers & Indirect Allocations||-147,503||-156,454||8,950||(6.1%)||-295,495||-303,609||8,114||(2.7%)|
|Transfers from Funds||-4,421||-4,421||0||(0.0%)||-8,514||-8,514||0||(0.0%)|
|Transfers to Funds||16,860||21,814||-4,954||(29.4%)||18,446||25,471||-7,025||(38.1%)|
|Indirect Allocations & Debt|
|Capital Financing Allocation||-26,928||-26,927||-1||0.0%||-60,521||-60,521||-1||0.0%|
|Total Indirect Allocations & Debt||-26,928||-26,927||-1||0.0%||-60,521||-60,521||-1||0.0%|
|Net Expenditure (Revenue) After Transfers & Indirect Allocation||-161,992||-165,988||3,996||(2.5%)||-346,084||-347,172||1,088||(0.3%)|
General Government is operating at a year-to-date surplus before indirect allocations of $3,996 and is forecasting an overall surplus before indirect allocations of $1,089 at the end of the year. The following factors have contributed to year-to-date and forecasted surplus:
The favourable year-to-date and forecasted variances of $40 and $81 is the result of corporate management of vacancies.
The favourable year-to-date and forecasted variances of $554 and $523 are primarily driven by the reversal of 2016 insurance accrual of $605, which offsets the pressures in Enterprise Resource Management Services related to the same claim.
The favourable forecasted variance of $565 represents the available balance of the "Budget Flexibility for Strategic Initiatives" approved for Council direction on Strategic Priorities.
The favourable year-to-date variance is primarily due to timing of payments on "Smarter Niagara Incentive Program" grants, forecasted to be overdrawn at year-end by $319 which will be the subject of a report that may request funding for shortfall from the Smart Growth Reserve in the absence of corporate surplus to mitigate.
The favourable year-to-date and forecasted variances of $3,153 and $2,806 are due to gain on the sale of an investment of $941, reversal of an allowance for doubtful accounts for receivables that have been deemed collectible as of 2017 for $555K year-to-date and 1,026K forecasted, sinking fund contribution of $1,513 reclassified to Transfers below offset by estimated increase in tax write offs of $675K.
The favourable year-to-date and forecasted variances of $3,004K and $6,237K 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.
The unfavourable year-to-date and forecasted variances of $4,954 and $7,025 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.
The General Government department consists of: