Loading...
HomeMy WebLinkAboutThe Huron Expositor, 1970-04-23, Page 12Township of Mcitillop - Auditor's Report March 26th, 1970. The Reeve, Councillors and Ratepayers, township of McKillep. Dear Sirs: ' In accordance with your instructions, we have completed an audit of your Township for the year ended December 31st, 1969, and we now present the Finan- cial Statements as required by the Departmtfit of Municipal Affairs. Operations for the year resulted in a de- ficit of $3,.244. as detailed on Statement 1. After deducting the deficit for the year, the accumulated surplus amounted to $21, 630 at the year end. We hereby report that in our opinion: The financial transactions which have come under our noticelave been within the powers (1) of the Municipality. (2) The audit has been conducted in accordance with the instructions of the Department of Municipal Affairs. The financial statements present fairly the financial position of the Municipality as at 51st Decemb6r, 1969, and the results of its operations for the year ended on that date. In conclusion, we wish to express our appreciation for the co-operation which we received from the officials of your Township with whom we were in con- tact during the course of our audit. Yours faithfully, Monteith, Monteith & Co. Chartered Accountants License Number 3748 (3) Date of Filing April 1st, 1970. STATEMENT OF REVENUE AND EXPENDITURE • for the year ended December 31, 1969. 'REVENUE Taxation Contributions from other governments Other 19 69 195, 613 93, "23 4, 572 1968 157,248 73, 557 6,367 Recreation and community services Financial expenses Education County - share of expenditure 1,440 5, 095 92,890 62, 725 1,390 3,194 64,544 53,267 Total revenue 293,908 237,172 Total expenditure (Statement 8, Note 2) 297,152 230,966 EXPENDITURE General government ... , 10,608 11,373 Excess of expenditure over revenue Protection to persons and for the year ( 3,244) 6,206 proper qr 6,269 6,215 Surplus(deficit) at the beginning Public Works - 114,174 87,964 of. the year 24, 874 18, 668 Sanitation and waste removal 94 83 Surplus (deficit) at the end Qf Cohservatioriof health 250 260 the year 21,630 24,874 Social and family services .. 3. 607 2, 686 REVENUE FUND BALANCE SHEET as at December 31, 1969 ASSETS' Cash Investments, at cost ACCOUNTS.RECEIVABLE, Other governments Ontario, • 24, 714 Municipal. . 212 Local boards and other funds Municipal Drains Other, after deducting allowance for doubtful accounts Taxes receivable, after deducting allowance for taxes total assets LIABILITIES Temporary Loans' Other governments Municipal N..,,z1,41Ter Liabili ties Reserves Surplus (deficit) Total Liabilities 1'7, 758 $154,046 41, 000 73, 000 364 5,917 4,848 960 960 50, 000 41- 50, 000 21,630 24,874 $119, 507 $ 154, 046 uncollectable 20, 141 $119,507 1968 42,958 7,000 • 34, 803 50, 824 703 19 69 355 7 000 24,926 67, 009 76 $ 3, 607 $ 2, 686 Recreation and community services 1,440 1,390 Financial expenses $ 1,440 $ 1,390 Interest on temporary borrowing Unclassified 4,925 2,454 170 , ° 740 4 Sanitation and waste removal Garbage c011ectiOn and disposal 94 $. 94 Conservation of'health • Grants to public hospitals 250 $ 250 Public Works Roadways Drainage 106, 526 1„ 495 Unclassified 6,153 $114,174 • it M. 01 • 0 • • • 0 WOODHAM Correspondent Miss Jean Copeland Mrs. K. Caceiotti, mother of Mrs. Fred Parkinson is apatient in St. Joseph's Hospital, London, having had surgery Friday last. We are pleased to report at time of writing, she in improving as well as" can be expected. Mr. and Mrs. Adrian Pringle of London were Sunday evening guests with Miss Jean Copeland. Visitors during the week with Mr. and Mrs. Fred Parkinson, Brenda, Margaret and Janet were Mr. and Mrs. W. Lemieux of Capreol, Mrs. E. O'Reilly, Mary Margaret and Edward of Barrie, Mr. Joe Mazzel of Winnipeg, Mr. and Mrs. Frank Mazzel of Sud- bury, Mr. and Mrs. H. Legere of Los Angeles, Calif. Miss Jacqueline Beckett of Galt spent the weekend with her parents, Mr. and Mrs.,Lawrence Beckett and Geraldine. Mr. and Mrs. Gerald Brint:: nell, Terri and Scott were Sun- day guests with Mr. and Mrs, Wil- liam Rundle and Larry. Miss Arlene Johns visited with Miss Cathy Roberts of Kip- pen over the weekend. Misses Blanche and Rhea Mills, Mrs. John-Barley and Mr. Arthur Barley were Sunday sup- per guests with Mr. and Mrs. Bryce Skinner and family of Mun- roe. Visitors during the weekend OBITUARY MISS CAROLYN HOLMES Miss Carolyn Holmes, 86, Seaforth, died in St. Mares Hos- pital, London, following -a long illness. Born in Clinton, she was a daughter of the late Mr: and Mrs. Samuel Holmes of Seaforth. Af- ter receiving her education in Seaforth she trained as a nurse in Boston and spent many years there, retiring to Seaforth In 1940. She was a member of St. Thomas' Anglican Church, sea- forth. Siner,iying is one sister, Mrs. Chester N. (Kathleen Eva)Janes, Boston, and a number of nieces and nephews. The body was at the G. A. Whitney Funeral Home, Seaforth, where the service was held at 3:30 p.m. Monday. Interment fol- lowed in Clinton cemetery. Pallbearers were J. A. Ste- wart, F. C. J. Sills, Dr. J. A. Munn, Robert Archibald, G. D. Hays and A, Y. McLean. $EAFORTH ONTO, APRIL, 23, MO NEWS OF with Mr. and Mrs. Clarence Johns were, Mrs. May Horne and Mr. Carl Borne of Toronto, Mi. pnd Mrs. Luther Reynolds of Exeter, Mrs. Norman Johns, John and Stephen, Mr. and Mrs. Gorden Johns, Arlene and Linda and Mr. Paul Wallis of Granton, Mr. and Mrs. Howard Hodge, Judy and Brent of Ripley, Mr. and Mrs. Ford Stark, Steve, Sherri and Scett of St. Marys, Mr. and Mrs. Ben Fisher, Randy and Cindy of Exeter, Mr. arid Mrs. Larry 'Johns and Shawn of Kirkton, Mr. and Mrs. Archie Webber, David and Daryl of Exeter, Mr. Don Sprague of Slmcoe. Mrs. Clarence Johns was celebrating a birthday. We are sorry to report Mr. Norman Johns is a patient in the St. Marys Memorial Hospital, Mrs. T. Doube in Victoria Hos- , pital and Miss Ada Hopkins is a resident at the Walsh Nursing Home, St. Marys. We wish them all' a speedy recovery. The Kirkton-Woodham Men's Club met in the Kirkton United Church on Monday evening. Dr. Martin Humphrys of ,St. Marys was the guest speaker. ON EXPOSIT° SIDE COME TAX FORMATION A REGULAR COLUMN OF ANSWERS TO QUES- TIONS FREQUENTLY ASKED YOUR TAX MAN. apply the Notch Provision. What does this mean? A. This means that, it order to claim your son as a depen- dant, you must add the amount by which his income exceeds $950, in your case $30, to your tax. You will have to use the "Detailed Tax Calculation" method to determine your Fe- deral and Provincial Tax pay- able and show the $30 as a "Tax Adjustment" in the spaces pro- vided. 6.Q. I purchased bonds in my son's name. For tax purposes is the interest on the bonds his income? Or is it my income and if so must I report it on my re-, turn? A. Any interest income from the bonds should be reported as your income as long as your son is under 19 years of. age. 7.Q, In 1969 I purchased a com- bine and gave grain and live- stock as part payment. How would I handle this transaction on my Income tax return? A. The value of the grain and livestock must be reported as income, apital cost allowance would- be aimed on the full cost of the co bine. 8.Q. I am now.receiving pay- ments from. the Canada Pension Plan. Is this income taxable? If so, do I put it on the tax form as part of my income, or does it have to be entered in a special place on the form? A. Canad.. pension plan benefits are to be included in income on your income tax return by enter- ing the amount ybu received from this source in the space marked "did Age Security Pension and Supplement, and Canada or Que- bec pension Plan benefits." 9.Q. • If I am forced to sell my farm and inventory of grain be- cause of poor health, is there any provision whereby 1 carrget some income tax relief from the sale of the grain? - A. There is a section in the In- come Tax Act under which you may possibly qualify for some relief. Inform the District Tax- ation Office of the details of your case for further information. • The most remarkable herbicide ever developed. • Needs no incorporation. • Lasso 4 will not damage your crops or ruin your rotation plans. After it has.done its job it breaks down harmlessly In the soil. • Lasso 4 by, itself kills a wide variety of grasses in corn and soybeans. • Lasso 4 mixed with Atrazirte 80W controls both broadleaf weeds and grasses in corn. • Lasso 4 gives excellent results with as little as 3/10-inch of rain, yet won't leach out with heavy rain. • Lasso 4 works consistently in heavy and light soils and performs well regardless of organic matter. Available from your local 05-op Farm Centre or your local Aero Fertilizer Slender. For free descriptive literature on Last() 4 and its use; write Monsanto Canada Limited, 425 St. Patrick -St., LaSalle, P.O. • HERBICIDE BY Monsanto MILTON J. DIETZ YOUR HEADQUARTERS FOR "LASSO 4" AND OTHER MONSANTO PRODUCT'S PRONE 6Z1- SEAPORTR . I.Q. I changed jobs last year and received a lump sum payment from my previous employer's pension plan. I know this money can be taxed at a reduced rate but I do not know how to calcu- late this rate of tax. What should I do? A. When filing your return you should proceed at follow Attach a note to your return requesting that the Depart- ment apply the provisions of Section 36 of the Income Tax Act to your lump sum pay- ment. +1so attach the T4A slip on which that payment is reported. Complete your return as far as the ',Taxable Income" figure but do not include the lump sum payment in your income, Do not make any tax calcula- tion, but enter on the line "total Tax deduc tad per T4 and T4A slips", the total , amount of your tax deduc- tions including the amount deducted from the lump sum payment as shown on thert4A slip. 2.Q. Although I received the Old Age Security Pension and the Supplement, I am not yet 70 years of age so I cannot claim the age. exemption. Do I have to file an Income Tax Return be- cause my income is-over $950? A. The Old Age Security Pen- sion and Stipplement are part of your 'income for tax purposes, and if these plus,any other in- come you may have exceed $1,100, you should file an in- come tax return. • 3.Q. My father died last year and I paid all the funeral expenses. Can I claim these on my income tax return as deduction? I have always claimed my father as a dependant.' A. No. Funeral expenses are not an allowable deduction for income tax punpases. 4.Q. I paid $1,500 ,in alimony to my former wife last year. Can I claim all of this on my income tax return or just the married exemption of $1,000? A. provided it qualifies under the Income Tax Act, you ?nay deduct the whole $1,500. There is no dollar limit on the amount of alimony that may qualify for deduction from income. 5.Q. I support my sort who is at university. His income for the year - minus his tuition fees - comes to $980. I am told. that when filing my tax return I can Smiles . . . Mother: "Now, Freddie, wouldn't you like to give 'your football to that poor little boy who4iasn't a Daddy?" Freddie: (clutching football): "Couldn't we give him Daddy, instead?" • An old 'man walked into the police station and asked the ser- geant: "Can you tell me who my landlord is?" "Why, he's the man you pay , your rent - to," answered the of- ficer. • The did man shOok his head arid said: "I don't pay rent. About nine years ago I found me this, house, Moved In, and I been living there ever since." "Then why worry?" asked the sergeant. "You've got no complaint." "I sure have," shouted the old fellow. "If he don't fix the roof soon, I'm gonna move out." )/Vant a home? Get a mortgage loan! That first mortgage }nu need need foryour property may cost less than you think' at Victoria and Grey Trust. `Vies a good risk property. don't let money stand in your way. Just 'phone Victoria and Grey. YAUST. OFf0:4,Nv SiNce teen • Balance at the end of the year Analysed as follows: Taxes unpaid from 1969 1966 1967 and prior years, . Penalties and ini.erest 14,909 3, 765 772 19,446 695 $ 20,141 STATEMENT OV -SOURCE AND APPLICATION OF CAPITAL FUNDS for the year ended December 31, 1969 • SOURCE OF FUNDS 1969 1968 APPLICATION OF FUNDS 1.969 1968 Tile Drainage Program 13,900 16,100 Capital expenditure $ 13,900 $ 16,100 General go'ernment ....... 589 Contributions from the revenue, $ 589 ' fund for "-Transfers for capital purposes Capital expenditure 589 Land owners - Tile drainage loans 13,900 16,100 -$13, $ 589 00 $ 16,100 $ 14,489 $ 16,100 $ 14, 489 5 16, 100 CAPITAL FUND BALANCE SHEET -as at Dec*mber 31, 1969, r4h.• ASSETS 1969 1968 General municipal activities Capital outlay to be recovered., (Statement 8,, Note 3) 41, 675 in future years $41,675 $ 284, 825 School boards (all liabilities were 33, 669'. Total assets $41,675 $ 284, 825 • assumed by4Litisional boards LIABILITIES 1969 1968 from January 1, 1969) 251,156 Net long term liabilities $41,675 $ 284, 825 (Statement 8, Note 1)' Total liabilities $41,675 $284,825 ANALYSIS OF REVENUE- for the year ended December 31, 1969 TAXATION 1969 1968 Residential property tax reduction 19, 014 16,150 Realty -Residential and farrn $186,262 $151,938 Specific • .4 - Commercial and Roadways 63, 049 47,645 Industrial 863 1,230 General welfare assistance 1 , 426 974 .187,125 153,168 Warble Fly, 365 346 Business 840 244 $91,699 $72,960 Special charges .7, 648 3,836 Municipalities 1,918 549 ' $195,613 $157,248 $93, 723 $73, 557 Contributions from other governments OTHER REVENUE Payments in lieu of taxes Licepses and permits .580 538 Ontario enterprises .... 106 48 Service charges 1; 395 2, 831 44, 106 48 Penalties and interest on taxes 734 • 1, 087 .1, 911 Ontario Income from investments 1,863 General 4, 572 6,367 Per capita 7, 845 7,845 TOTAL REVENUE $293, 908 $237, 172 ANALYSIS OF EXPENDITURE Analysis of Expenditure )9 19 General Government 6 Members of council, 2,25 General administration 8,483 for the year ended December 31, 1969. SOcial and family services General assistance 2,113 • 1,603 Assistance to aged persons 1,459 1, 083 Unclassified 35 $10, 608 Protection to persons and property Fire 1,305 ' Street lighting _ 31 Unclassified 4,933 $ 6,269 Balance at the beginning of the year Analysed as follows.; Taxes unpaid from 1968 10, 834 1:967 3, 444 1966 and prior years„ , 2, 560 16,838 Penalties and interest 920 $17, 758 Increase during.tte year ' Taxation revenue $195, 613 Add amounts added to the tax bills for collection purposes only 6,684 Taxes billed 201,247 $ 17, 758 Education Elementary'- public 26, 402 separa te 9,849 56,639 $ 92,890 $ 62, 725 'TOTAL EXPENDITURE , $297, 152 Secondary Countj, - share of expenditure. , $ 5, 095 $ 3,194 15, 711 11,489 37, 344 $ 64, 544 $ 53,267 $230,966 201,981 '199,598 $ 20,141 for the year ended December 31, 1969. • Penalties arid interest added during the year Reduction during the year Taxes, penalties add interest received • 1968. 1,875 9, 498 $11,37a 1,499 17 4, 699 $ 6, 215 83, 079 1,495 3, 390 $ 87, 964 83 83 250 $ 250 CONTINUITY OF TAXES RECEIVABLE' 734 199, 59e