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File #: 20-021    Version: 1 Name:
Type: Period Report Status: Agenda Ready
File created: 1/3/2020 In control: Special Committee of the Whole
On agenda: 1/13/2020 Final action:
Title: Financial Services and IT Departments - 2019 Third Period Report
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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PERIOD REPORT

DATE: January 6, 2020 Report No. FIN-20-003
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:TITLE Financial Services and IT Departments - 2019 Third Period Report
Body

The following is a report on the activities pertaining to the Financial Services and IT Departments from September 1, 2019 to December 31, 2019.

I. DIVISION ACHIEVEMENTS AND ACTIVITIES

1. Budgeting, Financial Accounting and Reporting
* In preparation for the 2020-2024 Financial Plan, initial capital and operating budget information was compiled by each department. Once all submissions are received, they will be consolidated for Council's review during March 2020.
* Interim audit work by the Township's auditors was completed during late November. The year end requirements, reconciliations and analyses are being completed in preparation for the annual financial statement audit scheduled for March 2020.
* Completed a variance analysis of budget versus actual revenues and expenditures in September. No unexplained significant variances or anomalies were noted.
* Provided an information session regarding the financial plan and property taxation which was made available to the public, businesses and staff.
* Completed the transition for an online tax certificate process which requires legal firms and other agencies to acquire certificates through an external website. This results in no loss of revenue to the Township and frees up staff time for other duties.

2. Property Taxes
* Property tax notices were mailed in November to all outstanding accounts and as of December 31, 2019, approximately 95% of the total tax levy was collected. This collection total represented almost 98% of the total property tax folios within the Township.
* The total 2020 amount received from Public Works and Government Services Canada (PWGSC) for Property in Lieu of Taxes (PILT) was $24,886 more than the budgeted app...

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