Appendix
Target Reserve Fund Levels Table
May 10, 2016Pages 97–981 section
Comparison table showing minimum and optimal target levels versus actual 2015 unaudited balances for all reserves.
Capital Renewal Reserve 2015 balance: $150,576General Operating Surplus 2015 balance: $1,692,989
Target Reserve Fund Levels
| Fund | Minimum Level | Optimal Level | Minimum Level based on 2015 Financial Plan | Optimal Level based on 2015 Financial Plan | Level from 2015 unaudited financial statements |
|---|---|---|---|---|---|
| Operating | |||||
| Reserve for Future Expenditures | 1% of General Operating Fund Revenues rounded to nearest $10,000 | 2.5% of General Operating Fund Revenues, rounded to nearest $10,000 | $110,000 | $330,000 | $0 |
| Special Police Operational Reserve | 10% of RCMP contract expenditures rounded to nearest $10,000 | Adequate to fund police funding strategy, including increase in strength, and increased costs related to reaching population of 15,000, rounded to nearest $10,000 | $160,000 | TBD | $720,672 |
| Capital | |||||
| Capital Works and Land Acquisition Reserve | N/A | Adequate to fund all one-time capital projects and new / additional assets identified as capital funded in the long term capital plan | TBD | TBD | $241,164 (includes Tax Sale Land) |
| Capital Renewal Reserve | 1% of original cost of transportation and storm drain Engineering structures | Minimum 1% of original cost plus forecasted cash flow requirements of the planned long term capital renewal program | $776,471 | TBD | $150,576 (Road Bonds & Municipal Roads) |
| Park Improvement Reserve | N/A | Forecasted cash flow requirements for park improvements identified in the approved parks master plan | TBD | TBD | $82,923 (50% of Parks Equipment Reserve) |
| Machinery & Equipment Depreciation Reserve | 1% of original cost of machinery & equipment | Minimum 1% of original cost plus forecasted cash flow requirements of the vehicle and equipment replacement plan | $12,400 | TBD | $158,833 (Includes 50% of Parks Equipment Reserve) |
| Fund | Minimum Level | Optimal Level | Minimum Level based on 2015 Financial Plan | Optimal Level based on 2015 Financial Plan | Level from 2015 unaudited financial statements |
|---|---|---|---|---|---|
| Fire Department Machinery and Equipment Depreciation Reserve | 1% of original cost of Fire vehicles and equipment | Minimum 1% of original cost plus forecasted cash flow requirements of the Fire vehicle and equipment replacement plan | $29,860 | TBD | $135,193 |
| Sewerage System Capital Reserve | 1% of original cost of Sewer Engineering structures | Minimum 1% of original cost plus forecasted cash flow requirements of the planned sewer capital program | $133,208 | TBD | $680,528 (includes sewer equipment reserve) |
| Police Equipment, Property and Contract Reserve | Adequate to fund 2 years of police capital per 5 year plan | Adequate to fund forecasted cash flow requirements of the planned 5 year Police capital program | TBD | TBD | $627,888 |
| Statutory | |||||
| Parks & Open Space | N/A | Adequate balance to fund parkland acquisitions, per the long-term capital plan. | TBD | TBD | $355,038 |
| Unappropriated Surplus | |||||
| General Operating Surplus | Two months of regular general fund operating expenditures | Three months of regular general fund operating expenditures | $1,527,418 | $2,291,127 | $1,692,989 |
| Sewer Operating Surplus | Two months of regular sewer operating expenditures | Four months of regular sewer fund operating expenditures plus contingency for new sewage treatment plant (3,300 households @ $400 each = $1.3 million) | $134,671 | $1,549,342 | $1,540,042 |
Page 97–98
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Extracted from: 2016 05 10 Committee of the Whole Agenda