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Higher building permit revenues bolster surplus

Posted December 5, 2013

The most recent snapshot of New Tecumseth's 2013 budget comparisons at Oct. 31, projects a $500,000 operating surplus, and a $913,286 favourable variance in water and wastewater operations.

Excluding the water and wastewater, revenues from building permits is $242,209 than was projected, accounting for nearly half the surplus. The funds have been transferred to various reserves which are to be carried over into the 2014 budget, whose deliberations are now underway.

In Parks and Recreation, the Hornet's Nest operation revenues continues to be far off what was projected last year, figures that were based on the projections of former operator Richard Norcross.

The 2013 budget for the Hornet's Nest at the NTRC projected $450,000 revenues but at Oct. 31, it was $165,618. Its expenditures were forecast at $326,510, but came in at $172,655. Revenues from concessions were $15,381, with $20,000 expected by year-end.

At Oct. 31, the NTRC generated $869,853 in revenue, while expenditures were $1.9 million, including approximately $850,000 in the annual debt repayment. (The updated development charges fee schedule includes a component that will be applied to the outstanding debt, which will bring the taxation exposure down with it). Tottenham Arena and Fitness Centre generated $550,748 in revenues, while expenditures were $955,720, including about $250,000 in debt repayment. Alliston Memorial Arena was showing a deficit of about $53,000, while Beeton Arena's deficit was $76,242.

The two other areas in the budget which are showing unfavourable variances of $48,931 in Human Resources based on higher WSIB and legal claims; and $73,150 in policing costs.

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