3rd Quarter Unaudited Financial Report September 30, 2021

Manitoulin-Sudbury DSB 1st Quarter Report (Unaudited) as at 9/30/2021        
 
  Total Gross Budget Municipal Share Budget
  YTD  YTD  OVER(UNDER)  ANNUAL  YTD  MUNICIPAL  MUNICIPAL OVER(UNDER)
  ACTUAL BUDGET BUDGET BUDGET MUNICIPAL SHARE SHARE BUDGET
            Forecast BUDGET Forecast
 
Ontario Works $ 1,787,011 $ 1,808,148 $ (21,137) $ 2,461,726 $ 759,059  $ 1,047,426  $ 1,047,426  $ -
100% Funded $ 5,943,206 $ 5,067,373 $  875,833 $  6,751,071     
                 
Child Care $ 7,882,790 $ 7,329,092 $ 553,698 $ 9,654,258 $ 501,029 $ 668,038 $ 668,038 $ -
                 
Community Housing $ 1,821,106 $ 2,250,058 $ (428,952) $ 2,969,952 $ 1,821,106 $ 1,560,233 $ 2,254,678 $ (694,445)
100% Funded $  324,173 $ 301,592 $ 22,581  $ 402,123     
                 
Paramedic Services $ 11,032,557 $ 11,613,237 $ (580,680) $ 15,547,153 $ 5,498,605 $ 6,619,724 $ 6,793,382 $ (173,658)
100 % Funded $ 717,769 $ 648,123 $ 69,646 $ 2,565,128  
TOTAL EXPENSES $ 29,653,516 $ 29,017,623 $ 635,893 $ 40,351,411 $ 8,576,798 $ 9,895,421 $ 10,763,524 $ (868,103)
                 
Interest Revenue $ (72,794) $ (74,373) $ 1,578 $ (99,163) $ (72,794) $ (98,259) $ (99,163) $ 904
TOTAL EXPENSES $ 29,580,722 $ 28,943,250 $ 637,472 $ 40,252,248 $ 8,504,004 $ 9,797,162 $ 10,664,361 $ (867,199)

 

Variance Analysis Month Day, Year
Actual to Budget NET Municipal Variance Explanation of Unaudited Municipal Share
Ontario Works $ -  Municipal share of administration expenses are forecasted to be on budget.
Child Care $ -  Municipal share of Child Care expenses is forecasted to be on budget.
Community Housing $ (694,445)

($91,035) + ($385,160) + ($225,854) + $7,604 = ($694,445) surplus

Federal Funding is forecasted to be ($91,035) more than budgeted.

Direct operated rev & exp and program support allocation is forecasted to be ($385,160) under budget

  • Rental Revenues are forecasted to be ($194,121) more than budgeted.
  • Direct operating expenses are forecasted to be ($131,151) under budget due to:
  • utilities $39,222 over budget, salaries & benefits for custodians $18,730 over budget, maintenance expenses over budget
  • $47,235, other administrative expenses over budget $4,797, administration wages & benefits are forecasted to be ($191,135) under budget due to onetime administration funding available from 100% funded programs.
  • Program Support Allocation is forecasted to be ($109,888) under budget.
  • Direct Shelter Subsidy forecasted to be ($225,854) under budget due to one-time 100% funding.
  • Non-Profit, Rent Supp, and Urban Native expenses are forecasted to be $7,604 over budget.
Paramedic Services $ (173,658)  

Paramedic Services is forecasted to be $47,519 + ($221,177) = ($173,658) under budget.

The MOHLTC funding is forecasted to be less than budgeted by $47,519 deficit. The forecast is based on the actual funding received to date.

Paramedic Staffing is forecasted to be ($127,515) under budget:

- Regular Wages are forecasted to be under budget by ($248,980); Other and Replacement Wages are forecasted to be

over budget by $121,465

- Benefits are forecasted to be under budget by ($40,270); WSIB is forecasted to be under by ($229,209); CPP, EI and EHT are forecasted to be over by $46,096; Other Benefits, OMERS and In Lieu are forecasted to be over by $142,843;

Administration Wages and Benefits are forecasted to be ($87,283) under budget

Non Wages are forecasted to be over budget by $33,891.

- Transportation & Communication is forecasted to be ($51,067) under budget

- Vehicle repairs and maintenance is forecasted to be over budget by $37,358

- Building repairs and maintenance, grounds and utilities are forecasted to be $17,600 over budget

- Mal Practice insurance was not budgeted; it is forecasted to be $30,000 over budget

- Supplies are forecasted to be on budget.
Interest Revenue $  904 Interest Revenue is forecasted to be $904 less than budgeted which results in a municipal deficit.
  $  (867,199)