Staff Report: Casino Revenue by Quarter
Report on the quarterly casino revenue sharing transfer received from the Ministry of Energy, Mines and Natural Gas.
TOWN OF VIEW ROYAL COMMITTEE OF THE WHOLE REPORT
TO: Committee of the Whole DATE: May 4, 2015 FROM: Jeannie Beauchamp, Director of Finance MEETING DATE: May 12, 2015
CASINO REVENUE BY QUARTER
RECOMMENDATION: THAT the Committee receive the May 4, 2015 Casino Revenue by Quarter Report for information.
CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:
I concur with the recommendation.
PURPOSE OF REPORT:
To provide Council with information regarding casino revenue received.
INFORMATION:
Each quarter the Town receives a transfer from the Ministry of Energy, Mines and Natural Gas for casino revenue. The Town keeps 45% of this transfer, with the balance being forwarded to Langford, and Langford in Trust.
The Town has received $479,832 in Q1 of 2015, which is well above the amount received in Q1 2014 ($412,323) and slightly above the budgeted $456,355 by $23,477.
RECOMMENDATION: THAT the Committee receive the May 4, 2015 Casino Revenue by Quarter Report for information.
SUBMITTED BY: J. Beauchamp, Director of Finance
REVIEWED BY: K. Anema, Chief Administrative Officer
Document Images
(1)