2015	$335,450	$335,450
2016	$193,950	$193,950
2017	$154,536	$154,536
2018	$510,000	$280,069
2019	$0	$76,000
2020	($153,931)	$0.00
Total as of December 31, 2020	$4,890,005	$4,890,005
2021 LOC Projection	$0.00	$0
Total Projected LOC for December 2021	$4,890,005	$0
Maximum Allowable (15% ofplan liabilities at December 31,2020)	$5,619,900

Fees

There are fees associated with issuing the Letter of Credit, which cannot be paid from the fund and are included in the Transit Windsor operating budget as follows:

• BMO (Plan Trustee) – Annual administration fee of $5,000 and approximately $500 for annual tax preparation fees.

• Bank of Nova Scotia (Issuer) – 1% fees would be applied on all outstanding balances.

It should be noted that the estimates of the surplus funds as noted above exclude the impacts of any fees associated with the LOC. Any such fees would serve to reduce the final surplus amount.

Consultations:

Rachel Chesterfield, Financial Planning Administrator, Transit Windsor

Vince Grillo, Manager Treasury & Cash Management Taxation & Financial Projects,