Appendix
Deferred Revenue - Casino Funds and Community Works (Gas Tax)
April 19, 2016Page 541 section
Accounting summary for deferred revenues from specific external funding sources like gas tax and casino revenue.
Casino fund projected balance Dec 31: $431,032Gas Tax projected balance Dec 31: $623,292.15
TOWN OF VIEW ROYAL
Deferred Revenue
Casino Funds and Community Works (Gas Tax)
Proposed 2016 – 2020 Five Year Financial Plan
CASINO FUND
| 2014 Actual | 2015 Actual | 2016 | 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|---|---|---|
| Fund balance at January 1 | 886,399.12 | 790,641.31 | 597,522.36 | 384,316.36 | 158,243.06 | 154,097.85 | 261,113.85 |
| Add: Gaming Funds from Province | 1,744,749.00 | 1,838,324.75 | 1,840,000.00 | 1,840,000.00 | 1,840,000.00 | 1,840,000.00 | 1,840,000.00 |
| Less: Partnership sharing of 55% | |||||||
| FUNDS AVAILABLE | 2,631,148 | 2,628,966 | 2,437,522 | 2,224,316 | 1,998,243 | 1,994,098 | 2,101,114 |
| Less: Budgeted expenditures | |||||||
| Grants in Aid | 98,025.00 | 86,975.00 | 105,725.00 | 92,000.00 | 92,000.00 | 92,000.00 | 92,000.00 |
| West Shore Park & Rec Society | 680,300.00 | 708,923.00 | 725,839.00 | 740,355.78 | 759,633.90 | 701,415.00 | 627,513.00 |
| Non-Core operating | 102,300.00 | ||||||
| GVPL | 224,726.00 | 175,421.00 | 118,959.00 | ||||
| Debt servicing - 333 Island Hwy | 201,559.00 | 201,559.00 | 201,559.00 | 201,559.00 | 201,559.00 | 201,559.00 | 201,559.00 |
| Transfer to operating | 10,873 | 25,942 | |||||
| Capital projects | 625,014 | 1,196,830 | 1,252,392 | 1,033,925 | 1,063,203 | 994,964 | 921,082 |
| TOTAL EXPENDITURES | 1,840,507 | 2,031,444 | 2,053,206 | 2,068,073 | 1,844,145 | 1,732,984 | 1,670,082 |
| Projected Fund balance at Dec 31st | 790,641 | 597,522 | 384,316 | 156,243 | 154,098 | 261,114 | 431,032 |
COMMUNITY WORKS (GAS TAX)
| 2014 Actual | 2015 Actual | 2016 | 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|---|---|---|
| Fund balance at January 1 | 87,509.25 | 175,794.86 | 613,165.14 | 253,747.68 | 294,457.83 | 387,648.45 | 331,036.42 |
| Add: | |||||||
| Federal Gas Tax Grant | 433,631.34 | 433,631.34 | 433,631.34 | 285,635.00 | 285,635.00 | 285,635.00 | 285,635.00 |
| Interest 2% | 2,024.60 | 3,738.94 | 12,253.30 | 5,074.95 | 5,899.15 | 7,752.97 | 6,620.73 |
| Funds Available | 523,165.19 | 613,165.14 | 1,059,039.78 | 544,457.64 | 585,991.78 | 681,036.42 | 623,292.15 |
| less: | |||||||
| Capital projects | 347,370.33 | 805,312.10 | 250,000.01 | 198,333.33 | 350,000.00 | 0.00 | |
| Projected Fund balance at Dec 31st | 175,794.86 | 613,165.14 | 253,747.68 | 294,457.63 | 387,648.45 | 331,036.42 | 623,292.15 |
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Extracted from: 2016 04 19 Council Agenda - Pdf