View - The Municipality of Lambton Shores

THE MUNICIPALITY OF LAMBTON SHORES
TR Report No. 46-2012 Wednesday July 4, 2012
TO:
FROM:
RE:
Mayor Weber and Members of Council
Janet Ferguson, Treasurer
Draft Year to Date Operating and Capital Financial Statements as of
June 30, 2012
RECOMMENDATION:
For Council review.
REPORT
Attached to this report are the Draft Year to Date Operating and Capital Financial
Statements as of June 30, 2012 for Lambton Shores. The Department Heads review
the detailed operating statements monthly to ensure that they are within the approved
budgets. This report is meant as a supplement to all previous financial reports and
comments are incorporated from the other Department Heads.
Treasurer’s Comments
The statements are reflective of six months of operations for Lambton Shores with the
many seasonal business units that we have. The winter activities represent a 50%
usage at this time and the summer activities are just ramping up.
The taxation revenue is 50% of the previous years taxation with the actual 2012 billings
being issued in late July. Expenses for the reserve fund transfers have not been
completed at this time as we typically wait for appropriate cash flow to cover the large
expense.
Director of Community Services Comments
Transportation
All operating accounts currently on track for revenue and expenses.
Bottom line is primarily affected by not yet having recognized the expenses
incurred through transfers to reserve.
Harbours
Revenue is slightly higher than expected due to collections of slip fees occurring
at the start of the season, but this will normalize over the coming months.
Similarly, expenses are slightly lower than projected due to the season only
having just begun. Like expenses, these will normalize over the season.
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