HomeMy WebLinkAbout12 089 2012 budget and Taxation amendment (1) by-law THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
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BY -LAW
NO. 2012 - 089
BEING A BY -LAW TO AMEND BY -LAW NO. 2012 -045 —
2012 BUDGET AND TAXATION BY -LAW
WHEREAS Section 290 of the Municipal Act, 2001, S.O. 2001, c. 25, as
• amended, provides that a local municipality shall in each year prepare and adopt
a budget including estimates of all sums required during the year for the purposes
of the municipality;
AND WHEREAS pursuant to the said Municipal Act, Section 8 (1) and 9 provide
that the powers of a municipality under this or any other Act shall be interpreted
broadly so as to confer broad authority on the municipality to enable the
municipality to govern its affairs as it considers appropriate and to enhance the
municipality's ability to respond to municipal issues and a municipality has the
capacity, rights, powers and privileges of a natural person for the purpose of
exercising its authority under this or any other Act;
AND WHEREAS the Council of The Corporation of the Municipality of Kincardine,
with the passage of By -law No. 2012 -045, adopted the estimates of all sums
required during the year to strike the rates of taxation for 2012;
AND WHEREAS the Council of The Corporation of the Municipality of Kincardine
deems it necessary to amend By -law No. 2012 -045;
• AND WHEREAS these amendments have no impact on the tax levy or the tax
rate;
NOW THEREFORE the Council of The Corporation of the Municipality of
Kincardine ENACTS as follows:
1. That the BIA Total Taxes to be Raised, originally confirmed with the
passage of By -law No. 2012 -045, be hereby amended to read as follows:
BIA Total Taxes to be Raised $50,000
2. The tax rate for the Business Improvement Area shall be hereby amended
to 0.00233588.
3. That Schedule "A" of By -law No. 2012 -045 be hereby rescinded and
replaced with the attached Schedule "A ".
• 4. That the dates for payment of taxes be amended as follows:
DUE DATE of 3rd installment September 4, 2012
DUE DATE of 4 installment December 3, 2012
Page 2
2012 Budget and Taxation Amendment (1) By -law
By -law No. 2012- 089
5. This by -law shall come into full force and effect upon its final passage.
• 6. This by -law may be cited as the "2012 Budget and Taxation Amendment
(1) By -law ".
READ a FIRST and SECOND time this 11 day of July, 2012.
Mayo Clerk
READ a THIRD time and FINALLY PASSED this 11 day of July, 2012.
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do . y or Clerk
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1111
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This is Schedule " " to By -Law
No. 201 passed the 11 day
� - l< j N C ik Rp I N ' . of :To 1-4 201
eranf ene ,,.y. aminnemd ttic.
Statement of Operations for the period ending May 31, 2012
General Comments
Variances arise from one of three sources. These include: the timing difference between the recognition of revenue or expenditure and the allotted budget for that
period; a one -time unplanned occurrence; or an unexpected trend. Of greatest concern to management are the items that have trended off budget. For these
instances, management needs to consider actions that can be taken to correct the trend or acknowledge that the state will continue with a measurable impact to the
financial results.
For the current period ended, an overall positive variance to budget exists. The key contributors to this variance are substantially timing related.
2012 YTD 2012 YTD 2012 % of Annual YTD
2011 Actual Approved Budget Variance Explanation
Actual Budget Variance
Budget Remaining
Revenue
Taxation Revenue 9,835,277 4,386,605 4,448,461 10,676,307 58.91% (61,856) Supplementals not billed
Fees and User Charges 2,028,762 546,840 861,672 2,045,613 73.27% (314,833) Seasonal revenues and tipping fees
Water and Sewer Charges 3,558,377 1,430,872 1,777,563 4,266,151 66.46% (346,691) Timing of billings including BEC
Grants 1,870,413 730,526 780,312 1,872,750 60.99% (49,786) Grants not yet received
Other Income 3,551,994 1,467,722 1,597,647 3,640,754 59.69% (129,925) liming of receipt of other revenues
Total Revenue $ 20,844,823 $ 8,562,565 $ 9,465,656 $ 22,501,575 61.95% $ (903,090)
Expense
General Government
Council 441,255 132,434 200,526 481,262 72.48% 68,092 Timing of physician payments
CAO 475,914 281,113 322,139 773,133 63.64% 41,026 Timing due to salary review
Treasury 1,220,141 319,397 391,964 940,715 66.05% 72,567 Vacation accrual carryover
Clerk 192,790 202,277 181,856 436,455 53.65% (20,420) Majority of all grants are paid out
Economic Development 226,156 29,627 88,000 211,200 85.97% 58,373 PREDC payment not yet processed
Tourism 263,418 87,721 114,302 274,325 68.02% 26,581 Seasonal variance
2,819,674 1,052,569 1,298,788 3,117,090 66.23% 246,219
Protective Services
Fire 1,413,677 383,339 474,757 1,259,572 69.57% 91,418 Timing of payment to firefighters
Police 2,378,782 1,084,657 1,091,454 2,619,490 58.59% 6,797
3,792,458 1,467,996 1,566,211 3,879,062 62.16% 98,215
Public Works 11,997,719 3,651,030 4,305,240 10,332,575 64.66% 654,210 Timing of operating contracts, seasonal
variance
Recreation 3,821,997 1,371,270 1,668,060 4,003,343 65.75% 296 790 Timing and seasonality - parks and marina
Building & Planning 991,692 346,383 487,294 1,169,505 70.38% 140,910 Timing of revenue recognition from the
reserve fund
Total Expense 23,423,540 $7,889,248 $9,325,592 $22,501,575 64.94% $1,436,344
Surplus (Deficit) (2,578,718) $673,317 $140,064 $0 $533,253