Report to: General Committee Report Date: September 14, 2009

SUBJECT: Settlement of disputed water billings and status of outstanding receivable with the Region of York

PREPARED BY: Joel Lustig, Director, Financial & Client Services

RECOMMENDATION:

1. That the report “Settlement of disputed water billings and status of outstanding receivable with the Region of York (“Region”) be received;

2. And That Staff be authorized and directed to do all things necessary to give effect to this resolution.

1. Purpose 2. Background 3. Discussion 4. Financial

5. Others (Environmental, Accessibility, Engage 21st, Affected Units) 6. Attachment(s)

PURPOSE:

The purpose of this report is to provide an update to Council on the settlement of the disputed water billings and provide a status of the outstanding receivable with the Region.

BACKGROUND:

On June 15^th, 2009, Council approved the settlement of the following outstanding water billings with the Region:

• To settle at 50% of the outstanding 1999 invoice of $1,170,981.06 or $585,490.53
• To pay the Region $ 1,085,421.00 for the 2007 holdback (July – August 2007 invoice).

DISCUSSION:

As per Council approval, the Town remitted $1,670,911.53 ($585,490.53 + $1,085,421.00) by way of electronic fund transfer to the Region on July 10, 2009.

At the end of May 2009, the outstanding receivable from the Region was $3,163,662.52. Since then, the Town has received $3,138,851.95 leaving an outstanding balance of $24,810.67. Staff continue to pursue the outstanding amount with the Region.

RECOMMENDED

BY: ________________________ ________________________

Barb Cribbett, Treasurer Andy Taylor, Commissioner,

Corporate Services