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re: Some new insights into Ward 18 donation numbers

from Stephan Graham, Senior Budget Analyst, Management Services PFR 18-Oct-2012 [7370]

Part of 2012

-------- Original Message --------
Subject: Re: Some new insights into Ward 18 donation numbers
Date: Thu, 18 Oct 2012 11:19:22 -0400
From: Stephen Graham <sgraham@toronto.ca>
To: Jutta Mason <jutta.mason@sympatico.ca>
CC: Staff <staff@dufferinpark.ca>, ANNA GALATI <anna.mt.galati@gmail.com>, Mayssan Shuja-Uddin <mayssan@gmail.com>, Councillor Bailao <councillor_bailao@toronto.ca>, Glen Synowicki <gsynowic@toronto.ca>, Shelly Andrade <sandrade@toronto.ca>, Sofia Oliveira <solivei@toronto.ca>, Ward18 <ward18@toronto.ca>

Hi Jutta, Yes I can confirm that $16,156 was received into the operating budget in 2011 between those two cost centres. Only $576 was recorded in P13057.

I will confirm the 2012 amounts when the September Period 9 report is ready.

I agree that we should simplify the revenue recognition into one cost centre and one cost element. However, from a technical standpoint I am unclear if these should be classified as donations since they are proceeds from sales and there is a cost to the city to generate the revenue. Based on this assumption, I would recommend that we classify it as Sundry Revenue under cost element 9450.

To facilitate this, would you be willing to note on the cheques or letter along with the cheques that the specified assignment is P10389-9450?

Regards,

Stephen Graham, B.Comm., CMA Senior Budget Analyst, Management Services Parks, Forestry & Recreation

City of Toronto 100 Queen St. W, West Tower 4th floor Toronto, ON M5H 2N2 Tel: (416) 397-5348 Fax: (416) 397-4899