Appendix
Target Reserve Fund Levels Table
June 14, 2016Pages 53–542 sections
Comparison of target minimum and optimum reserve levels with 2015 unaudited balances.
RCMP Operating Reserve 2015 balance: $720,672General Operating Surplus 2015 balance: $1,692,989
Page 53–54
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 | $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 | $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 | $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 53–54
Extracted from: 2016 06 14 Committee of the Whole Agenda