PERIOD REPORT
DATE: January 8, 2019 Report No. FIN-19-001
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:TITLE Financial Services and IT Department - 2018 Third Period Report
Body
The following is a report on the activities pertaining to the Financial Services and IT Department from September 1, 2018 to December 31, 2018.
I. DIVISION ACHIEVEMENTS AND ACTIVITIES
1. Budgeting, Financial Reporting and Accounting
* In preparation for the 2019-2023 Financial Plan, initial capital and operating budget information is being compiled by each department. Once all submissions are received, they will be consolidated for Council's review during March 2019.
* The year end requirements, reconciliations and analyses are being completed in preparation for the annual financial statement audit scheduled for March 2019. Interim audit work by the Township's auditors was completed during late November.
* A variance analysis of budget versus actual revenues and expenditures was completed in October with no unexplained significant variances or anomalies noted.
2. Property Taxes
* Outstanding property tax notices were mailed in November and as of December 31, approximately 95% of the total property tax levy was collected. This represented almost 98% of the total tax folios within the Township.
* The total 2018 payment received from Public Works and Government Services Canada (PWGSC) for Property in Lieu of Taxes (PILT) was for $21,926 less than our application amount. Discussions are ongoing with BC Assessment and PWGSC to determine the rationale for the reduced payment and whether an appeal will be necessary.
* All delinquent property taxes were collected in advance of the September deadline and, as a result, no tax sale was required.
3. Risk Management
* There are no significant or unusual liability claims against the Township.
4. Information Technology
* Coordinated a network penetration ...
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