CASINO REVENUE BY QUARTER
Report on casino revenue received by the Town for the second quarter of 2016.
TOWN OF VIEW ROYAL COMMITTEE OF THE WHOLE REPORT
TO: Committee of the Whole DATE: September 8, 2016 FROM: Michael Dillabaugh, Director of Finance MEETING DATE: September 13, 2016
CASINO REVENUE BY QUARTER
RECOMMENDATION: THAT the Committee receive the September 8, 2016 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 Finance for casino revenue. The Town keeps 45% of this transfer, with the balance being forwarded to City of Langford, and City of Langford in Trust.
The Town has received $485,223 in Q2 of 2016, which is above the amount received in Q2 2015 ($437,384) and above the budgeted $460,000 by $25,223.
RECOMMENDATION: THAT the Committee receive the September 8, 2016 Casino Revenue by Quarter Report for information.
SUBMITTED BY:
M. Dillabaugh, Director of Finance
REVIEWED BY:
K. Anema, Chief Administrative Officer
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