1. That the Board receive the Budget Statement for the year ending December 31, 2006, in accordance with Police Services Board By-Law #04-01, and
   
   
2. That the Manager of Financial Services provide a final Budget Statement for the year ending December 31, 2006 upon completion of the Region of York external audit.

York Regional Police Services Board is 67.13 per cent spent at the end of December 2006. York Regional Police is 99.96 per cent spent for the same time period. A statement of reserves and capital projects has also been supplied for information purposes.

FINANCIAL IMPLICATIONS:

At this time, the York Regional Police 2006 Operating Budget will return a surplus of $203,046 and Capital Budgets will be within the funding approved by the Police Services Board. Above-plan revenues, particularly fees, third party recovery, paid duty, accident report, clearance letter and volunteer screening revenues have generated a modestly favourable year-end position. These surplus revenues are mostly offset by contract settlement costs, unfavourable overtime and above-plan expenditures including fuel, maintenance contracts, service agents, vehicle leases and maintenance and equipment.

Financial analysis and reporting of all major accounts, including salaries, benefits, court and overtime, fuel and investigative expenses are ongoing. Budget notes have been provided for all major variances.

BACKGROUND:

The Regional Municipality of York Police Services Board By-Law #04-01 requires "the Manager of Financial Services to prepare and submit to the Board monthly financial reports in a form satisfactory to the Board which indicates the status of the operational budgets of the Board and York Regional Police in relation to total budgeted amounts."

The Budget Statements for the York Regional Police Services Board and York Regional Police for the period ending December 31, 2006, are attached to this report.

Expenditures for York Regional Police Services Board are $264,893 or 67.13 per cent of budget. Favourable variances exist in several operating expense accounts such as conferences & seminars, public relations, legal fees and consultant fees.

Net expenditures for York Regional Police are $168,217,205 or 99.96 per cent of the 2006 Approved Operating Budget. As of December, surplus revenues have compensated for above-plan spending in several program, occupancy, maintenance and asset acquisition accounts. Budget notes have been provided for all major variances.