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On October 12, Cobourg Council listened to presentations from citizens wanting input on the 2017 budget.  At that meeting, Lydia Smith of the Cobourg Taxpayers Association (CTA) asked for a report from the Town on “how the Town is doing”.  She asked for a progress report on expenditures versus budget on a year to date basis – and now the Town is providing this.  At the Council Committee of the Whole meeting on Monday Nov 14, Deputy Mayor John Henderson is providing a “budget variance report” from the Treasurer, Ian Davey.  For the nine months to September, it compares the 2016 budget to the actual revenues and expenditure.  Tax revenues are not part of this report.

Cobourg Internet reported on the request from the CTA here.

To make it clearer to me (and hopefully readers), the tables in Ian’s report have been re-formatted, re-labelled and new columns added.  The revised format more clearly spells out the budget variances compared to the emphasis in Ian’s report on “amount remaining” to be collected or spent. The numbers for Annual budget and Actuals YTD have not been changed. Red indicates revenue below plan or expenditure above plan.

Summary results (More details below)

  Annual Budget 75% of Annual 2016 YTD Actual Variance % of Budget YTD
Revenue (not taxes)          
General government $187,400 $140,550 $142,067 $1,517 1.08%
Protection services $417,600 $313,200 $338,426 $25,226 8.05%
Engineering $613,000 $459,750 $659,551 $199,801 43.46%
Environmental $5,066,887 $3,800,165 $3,488,107 -$312,058 -8.21%
Parks & Recreation $2,568,772 $1,926,579 $1,832,209 -$94,370 -4.90%
Culture & Community $179,600 $134,700 $127,154 -$7,546 -5.60%
Planning & Residential $76,500 $57,375 $42,412 -$14,963 -26.08%
Commercial & Economic $1,500 $1,125 $2,036 $911 81.00%
  $9,111,259 $6,833,444 $6,631,962 -$201,482 -2.95%
Expenditures          
General government $3,248,960 $2,436,720 $2,408,993 $27,727 1.14%
Protection services $12,046,554 $9,034,916 $8,578,312 $456,604 5.05%
Transportation $5,084,141 $3,813,106 $3,222,819 $590,286 15.48%
Environmental $3,651,243 $2,738,432 $2,366,831 $371,601 13.57%
Social & Family $59,850 $44,888 $59,309 -$14,422 -32.13%
Parks & Recreation $5,878,579 $4,408,934 $4,021,681 $387,254 8.78%
Culture & Community $1,565,569 $1,174,177 $1,354,286 -$180,109 -15.34%
Planning & Residential $478,071 $358,553 $375,012 -$16,459 -4.59%
Commercial & Economic $603,822 $452,867 $333,628 $119,239 26.33%
  $32,012,967 $24,462,592 $22,387,243 $2,075,349 8.48%

Under Total Revenue, we can see that there is a miss in the target of $201K - unless there are seasonal reasons for the discrepancy. 

However, expenditures are $2M less than plan but again there could be seasonal reasons for that.

Ian provides more detail of variances – below are some highlights (go here for full report – note that only Annual Budget and 2016 YTD Actual columns are the same):

Revenues Annual Budget 75% of Annual 2016 Ytd Actual Variance % of Budget YTD
Parking enforcement $441,000 $330,750 $473,047 $142,297 43.02%
Transit $147,000 $110,250 $104,325 -$5,925 -5.37%
Marina (very seasonal) $618,600   $591,268    
Trailer Park (totally seasonal) $261,150   $269,903    
Dredging (seasonal) $50,000   $67,941    
Arena (seasonal) $255,212   $127,710.    
Cobourg Community Centre (somewhat seasonal) $1,205,620 $904,215 $684,827 -$219,388 -24.26%
Expenditures Annual Budget 75% of Annual 2016 Ytd Actual Variance % of Budget YTD
Fire $2,840,705 $2,130,529 $2,067,973 $62,555 2.94%
Police $5,501,311 $4,125,983 $4,032,298 $93,685 2.27%
Communications Centre $874,457 $655,843 $503,857 $151,986 23.17%
Conservation Authority $208,000 $156,000 $103,833 $52,167 33.44%
By-Law Enforcement $56,631 $42,473 $53,078 -$10,605 -24.97%
Public Works $1,995,620 $1,496,715 $955,085 $541,630 36.19%
Parking enforcement $114,954 $86,216 $41,542 $44,673 51.82%
Transit $706,764 $530,073 $497,116 $32,957 6.22%
Marina (very seasonal) $618,600   $455,306    
Trailer Park  (totally seasonal) $153,093   $102,617    
Dredging (seasonal) $71,520   $112,869    
Arena (seasonal) $356,315   $167,297    
Cobourg Community Centre $2,200,603 $1,650,452 $1,450,387 $200,065 12.12%

Items to note

  • Transit -  Cost was $33K under budget  and revenue was $6K under budget for a net $27K benefit
  • Parking Enforcement - Cost was $45K under budget and revenue was $142K over budget – Net $167K benefit
  • Communications Centre – Cost was $152K under budget
  • The Marina seems to be doing well and paying for itself
  • The Trailer Park is doing well and paying for itself – but does not contribute to the Town’s taxes
  • The Dredger cost the Town $45K this year
  • The Community Centre is behind $220K in revenue YTD but costs are down $200K YTD – so it’s on plan albeit at a cost of $765K YTD.

The large variations are harder to isolate but if the overall net expenditure YTD is approx. $1.8M below plan, it's likely that there won’t be any big surprise and no threat of a big tax increase for next year.  For more, see Ian Davey’s full report which shows good detail of operating revenue and expenditure variances. He promises to follow up with a full year report plus a report on Capital expenditures early in 2017.

 

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