T 0 W N OF MEMO FROM IAN D. DAVEY, CA DIRECTOR OF CORPORATE SERVICE (905) 372-4301 EXT 4201 [email protected]COBOURG To: Mayor and Members of Council From: Ian D. Davey Treasurer Re: Town of Cobourg Budget Variance Report January 1,2017 to March 31, 2017 Date: July 4, 2017 Origin This budget variance report covers the period January 1, 2017 through March 31, 2017 and is intended for information purposes. When reviewing this report, please keep in mind that seasonality may play a role in some of the departmental variances being shown. Operating Budget Variance Report The first page of the report is a summary of the Revenue and Expenditures by category. The revenues represent those items specifically noted within each category of the municipal operating budget. The first column represents the total annual budget, the second column is the actual revenue recorded to the end of March 2017, the third column is the remaining amount to reach budget and the fourth column is the percentage required to meet budget. The expenditures portion of page 1 have the same columns with the first column representing the total annual budget, the second column is the actual expenditure to March 31, 2017, the third column is the remaining budget available for the balance of 2017 and the fourth column represents the remaining funds as a percentage.
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T 0 W N OF COBOURG To: Mayor and Members of Council · COBOURG To: Mayor and Members of Council From: Ian D. Davey Treasurer Re: Town of Cobourg Budget Variance Report January 1,2017
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Re: Town of Cobourg Budget Variance Report January 1,2017 to March 31, 2017
Date: July 4, 2017
Origin
This budget variance report covers the period January 1, 2017 through March 31, 2017 and is intended for information purposes. When reviewing this report, please keep in mind that seasonality may play a role in some of the departmental variances being shown.
Operating Budget Variance Report
The first page of the report is a summary of the Revenue and Expenditures by category.
The revenues represent those items specifically noted within each category of the municipal operating budget. The first column represents the total annual budget, the second column is the actual revenue recorded to the end of March 2017, the third column is the remaining amount to reach budget and the fourth column is the percentage required to meet budget.
The expenditures portion of page 1 have the same columns with the first column representing the total annual budget, the second column is the actual expenditure to March 31, 2017, the third column is the remaining budget available for the balance of 2017 and the fourth column represents the remaining funds as a percentage.
Page 2
The second page of the report provides a further breakdown of revenue received to March 31, 2017 by department which supports the figures on the summary page.
Pages 3 to 5
The remaining pages, 3 to 5, provide a similar departmental breakdown of expenditures made to March 31, 2017 again by department and support the expenditure amounts as shown on the summary page.
Capital Projects Report
A separate report has been provided which lists the 2017 capital projects and a reference to the page number in the 2017 Capital Budget. The first column shows the total amount budgeted for the project. The second column represents the expenditures on those projects to the end of March 2017. The remaining columns report the source of funding for these capital works. The final column indicates the remaining funds available to complete the project. A negative number indicates funds available while a positive number represents a project which has exceeded budget.
Total expenditures on capital projects to the end of March were $377,269.85 or about 4.8% of the total capital budget for the year of $7,799,520.
Conclusion
This report has been provided for information purposes and will be updated to the end of June and presented to Council at the August meeting.
If there are specific questions on any of this information I would be pleased to answer them.
Respectfully submitted,
Ian D. Davey, BBA A-CA-- Treasurer / Director of Corporate Services
council financial reports NtownQ2 2008
TOWN OF COBOURG
OPERATING BUDGET VARIANCE REPORT
2017
AS OF MARCH 31, 2017
TOWN OF COBOURG
BUDGET VARIANCE REPORT
FOR THE PERIOD ENDED MARCH 31, 2017
SUMMARY ANNUAL BUDGET
REVENUE
2017 YTD
ACTUAL REMAINING
BUDGET
PAGE 1
REMAINING BUDGET
General government 183,780.00 42,414.78 141,365.22 76.92 Protection services 443,700.00 77,695.88 366,004.12 82.49 Public Works 718,000.00 110,889.25 607,110.75 84.56 Environmental 5,524,172.00 1,288,213.87 4,235,958.13 76.68 Parks & Recreation 2,753,857.00 460,049.16 2,293,807.84 83.29 Culture & Community 184,650.00 70,999.76 113,650.24 61.55 Planning & Residential 74,000.00 24,490.00 49,510.00 66.91 Commercial & Economic 1,500.00 42.49 1,457.51 97.17
9,883,659.00 2,074,795.19 7,808,863.81 79.01
EXPENDITURES General government 3,263,628.00 767,849.52 2,495,778.48 76.47 Protection 11,576,315.00 2,610,800.03 8,965,514.97 77.45 Public Works 4,978,826.00 1,270,387.01 3,708,438.99 74.48 Environmental 3,604,729.00 622,612.66 2,982,116.34 82.73 Social & Family 60,100.00 0.00 60,100.00 100.00 Parks & Recreation 6,582,776.00 1,240,160.24 5,342,615.76 81.16 Culture & Community 1,577,496.00 405,840.90 1,171,655.10 74.27 Planning & Residential 501,138.00 124,749.81 376,388.19 75.11 Commercial & Economic 636,174.00 106,542.81 529,631.19 83.25
AS OF MARCH 31, 2017 2017 Prior Year Capital From Other Balance at
PG
Budget Expenditure Debenture Budget Levy Reserve Funding March 31, 2017
GENERAL GOVERNMENT 3 Computerization 35,000 411.75 -35,000.00 -34,588.25 4 Victoria Hall - Carpet West side stairs 6,000 -6,000.00 -6,000.00 5 Market Building - Interior 20,000 -20,000.00 -20,000.00 6 Second Street Firehall - Exterior work 170,000 -170,000.00 -170,000.00 7 Victoria Hall - Plaster Repairs 10,000 -10,000.00 -10,000.00 11 Victoria Square Study 65,000 1,199.16 -65,000.00 -63,800.84