Approved Annual Budget for Fiscal Year Ending March 31, 2023

Extracted text (beginning)

APPROVED Annual Budget For The Fiscal Year Ending March 31, 2023
APPROVED
Annual Budget
REVENUE
Fees and Sales264,724$                     
Provincial Grant - Unrestricted180,000
Federal and Provincial Grants - Restricted580,500
General Property Tax Levy - All LTAs7,309,863
Special Property Tax Requisition - SSI LTA60,000
Municipal Property Tax Levy - Bowen Island323,769
Investment and Other Income20,001
Other Income and Grants
Total External Revenue8,738,857                   
EXPENSES
Council Services
Trust Council473,562$                     
Executive Committee107,872
Trust Area Services556,922
General Administration Allocation - 14%331,368
1,469,724
Local Planning Services
Local Trust Committees & Programs969,573$                     
Planning Staff & Facilities3,811,175
Bylaw Enforcement383,184
General Administration Allocation - 74%1,503,188
6,667,120
Islands Trust Conservancy
Board and Property Management Costs222,835$                     
Conservancy Staff and Associated Costs679,898
General Administration Allocation - 12%262,780
1,165,513
General Administration
Senior Management443,751$                     
Financial, Human Resource, and Information Services1,154,470
Office Operations253,415
Amortization Expense168,000
General Administration Departmental Cost Recovery(2,097,336)
(77,700)
TOTAL OPERATING & PROJECTS EXPENSES9,224,657                   
Plus capital purchases77,700
TOTAL OPERATING, PROJECTS + CAPITAL EXPENSES9,302,357
ANNUAL SURPLUS (DEFICIT)(563,500)
Adjust for non-cash item: amortization168,000
ADJUSTED ANNUAL SURPLUS (DEFICIT)(395,500)
Funded by:
Transfer from General Revenue Surplus Fund183,500
Transfer from Local Trust Committee Project  Reserve Fund143,600
Transfer from Special Tax Requisition Fund68,400
NET SURPLUS (DEFICIT) AFTER TRANSFERS0

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