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Home My WebLink AboutThe Exeter Times-Advocate, 1965-04-29, Page 15A Financial Repoii to the Ratepayers of The 'Town. of Exeter Auditor's Comments Revenue Fund Balance Sheet PUC Water Supply System Exeter Public Library Board The Mayor, Members of Council and Ratepayers The Corporation of the Town of Exeter Exeter, Ontario. ASSETS REVENUE REVENUE Cash on Hand Cash in Bank . 1,179.78 14,979.83 16,159.61 Accounts Receivable Sundry 5 619 05 5,619.05 Due from Province of Ontario 25,46'7.50 Due from Dominion of Canada 177.14 Due from Other Municipalities 188.17 Due from Schools 1,293.33 Due from Other Local Boards and Commissions Public Utilities Commission - Hydro 20 000 00 20,000.00 Taxes Receivable 49 696 81 49,696.81 Other Assets Deferred Charges 3 489 71 Total Assets 122,091.32 LIABILITIES Temporary Loans 20,000.00 Accounts Payable . 7,427.83 Debentures and Coupons Due Principal 3,500.00 Interest 3J 004 t 51 6,504.51 Due to Province of Ontario 3,804.12 Due to Other Municipalities 498.30 Due to Schools 495.47 Surplus 83,361 09 Total Liabilities and Surplus 1221 0911 32 -------- March 18, 1965 Sale of Water: Residential 35,654.18 Commercial . 9,656.70 Industrial 17,421.57 Hydrant Rental . . . . • . . . 5,156.25 Miscellaneous Revenue: Interest revenue 409.72 Sale of material and labour recovered 199.24 Grants Town of Exeter PrOvince of Ontario County of Huron Room rentals . , Fees , Sundry Gentlemen: 2,900.00 1,962.20 40.00 286.70 227.60 15.80 $ 5,432.30 I have audited the accounts and records of the Town of Exeter for the year ended December 31, 1964, and have prepared therefrom the statements listed in the index accompanying this report. Operations The operations for the year resulted in a surplus of $25,009.39 compared with a surplus of $43,624.08 for the year ended December 31, 1963. 67,888.70 608.96 $ 68,497.66 3,091.43 2,620.84 12,114.27 5,270.52 254.16 14,351.43 19,402.22 • • • . • .. • EXPENDITURE Total Revenue Section Books Magazines . Salaries Librarian Assistant Librarians Secretary .. Lighant,itwoarter, heat, telephone . Repairs to building and equipment . . . Stationery and supplies Insurance Membership ;fees .. Postage, express and bank charges . Capital expenditures from current funds 1,649.11 EXPENDITURE The 1964 surplus included the balance of the Province of Ontario - Highway Subsidy in the amount of $15,137.52 as calculated by Town of Exeter officials. This figure has not been verified and any change in the amount receivable will have a corresponding effect on the surplus for the year. 235.75 Administration and General Customers' Billing and Collecting Power and Pumping Maintenance Operation . . . . . . 1,260.00 208.80 120.00 465.27 657.54 475.89 180.01 92.03 168.25 35.38 329.36 7,830.26 4.284.01 Presented herewith is a condensed, comparative Statement of Revenue and Expenditure for the three years ended December 31, 1964, 1963, and 1962. Transmission and Distribution Operation Building operations and maintenance Provision for depreciation Debt Charges Year ended December 31 1964 1963 1962 Revenue 5 875 39 $ 443.09 Total Expenditure. Surplus for year $ 57,104.8'7 112 3921 79 -------- $ 68,497.66 Taxation 280,173.12 262,996.44 Debenture debt charges recoverable '72,680.66 73,911.32 Contributions, grants and sub- sidies 105,059.51 36,224.70 Contributions, other municipali- ties 11,702.37 11,383.45 Licenses and permits 1,328.44 1,523.75 Interest and tax penalties . . . 4,404.80 2;772.65 Other revenue 38,188.34 6,584.86 Sewerage collections 18,243.21 21,401.18 Surplus of prior year used to reduce levy 39,501.90 231 246L 27 16,288.51 ------__ 571 282.35 440 044.62 388,750.13 244,875.71 75,118.08 32,509.64 10,888.66 1,338.95 2,593.04 5,137.54 Excess of expenditure over revenue Total Expenditure Section Exeter Recreation Committee PUC Electric Power REVENUE REVENUE Statement of Revenue and Expenditure REVENUE Grants Town of Exeter Kinsmen Club Exeter Community Centre Board Junior Band Minor ball Recreational soft ball Oil Painting Day Camp Promenaders Square Dance. Teen Town Junior Hawks Hockey . . • . • Intermediate ball Figure skating Play ground Minor hockey Other Sale of Electrical Energy: Residential Sales Commercial Sales Lighting, etc. .. . Industrial Sales Lighting, etc.. . Sales to own Municipality Street Lighting Miscellaneous Revenue: Sales of Merchandise . . Interest revenue Rental of meters and water heaters Apartment rental Sundry 7,566.52 600.00 3,871.61 164.44 18.27 80.59 168.50 1,549.80 175.00 1,362.31 584.61 133.48 1,178.70 588.94 2,358.76 180.10 98,679.68 35,449.87 37,324.42 6,567.78 Expenditure General government 27,649.38 24,711.38 Protection to persons and property 35,558.29 33,949.00 Public works, roads and streets 122,692.50 47,783.69 Sanitation and waste removal . . 44,274.04 22,769.94 Relief assistance 6,413.34 4,606.71 Institutional care . 5,466.05 4,727.75 Education 107,914.09 100,765.70 Recreation and community services 49,853.66 18,166.07 Debenture debt charges 98,110.34 88,226 65 Discount for taxes 1,822.34 1,670.61 Taxes written off 36.04 1,567.02 County rates 43,378.89 41,982.72 Capital expenditures out of cur- rent revenue 1,967.30 Provision for reserve funds 3,104.00 3L 5281 00 Actual 280,173.12 72,680.66 Budget 277,715.86 72,680.66 24,036.50 31,022.64 37,773.73 10,807.23 3,048.43 4,809.85 91,401.81 15,943.15 83,470.60 1,601.22 1,773.37 40,559.83 Total Revenue from Taxation Long-Term Debt Charges Recoverable Contributions, Grants and Subsidies Governments: Canada Ontario - Welfare Assistance . . . 8,337.72 Highway Improvement . . Payments in lieu of muni- cipal taxes 1,241.84 Police and Fire 209.84 Unconditional Per Capita Grants . . . .. . . . 9,997.50 Ontario Retail Sales Tax rebate 646.44 Recreation and Swimming Pool Winter Works Other Municipalities . Licenses and Permits . • • • Interest, Tax Penalties . . . . Other Revenues - Rents, Concessions and Franchises '728.49 Fines 657.72 Service Charges 335.00 Recreation and Community Services (2) 22 440.50 4,487.28 226.10 1,682.55 646.00 98.53 1,833.66 2,915.00 7I 1202 46 -------- $185,142.21 9,688.96 10,777.50 111,967.34 10,240.76 4,616.45 1,276.77 74,400.33 (1) Total Revenue Section $ 20,381.63 EXPENDITURE EXPENDITURE Salaries directors and assistants • • • Administration Minor ball Recreational soft ball Oil Painting Day camp • • Teen Town . . . Junior Hawks hockey Figure skating Playground Minor hockey Swimming pool 9,733.00 1,456.37 209.62 139.26 102.00 1,639.67 1,367.26 706.00 721.00 314.64 3,352.41 15.15 Administration and General Customers' Billing and Collecting . . Electrical Energy Purchased Transmission and Transformation: Operation Distribution: Operation Street Lighting: Operation Other - Exclusive of Depreciation and Debenture Debt Charges: Cost of Merchandise Sales Building operation and maintenance Apartment maintenance 18 000.00 8,366.52 (2) 25.66 103,225.85 11,702.37 1,328.44 4,404.80 37,772.10 11,200.00 1,200.00 3,100.00 546 ,272.96 396 420.54 364 248 36 Surplus for year $ 25,009.39 $ 43,624.08 $ 24 501.77 General These statements do not include those of Exeter Separate School Board as they were not audited by me and were not in my possession at the time the audit report was prepared. • 3,998.40 2,009.58 484.35 19 756 38 $ 605.25 Excess of revenue over expenditure . . 6,492.33 10,462.00 165,520.11 19 622 10 $ 185 142.21 Depreciation Auditor's Opinion Subject to the foregoing qualifications, I hereby report that in my opinion 24,161.71 1,825.00 Total Expenditure Surplus for Year carried forward to Surplus Account Miscellaneous Sewage charges Transfer from Reserve Funds Discount on county rates . . Farm rental Provision for deferred revenue Sundry Exeter Public School Board 18,243.21 10,600.08 1,784.70 1,162.50 327.35 152.00 Total Expenditure Section (1) (2) (3) The financial transactions which have come under my notice have been within the power of the municipality. 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 December 31, 1964, and the results of its opera- tions for the year ended on that date. REVENUE Government Grants Ontario Exeter Community Centre Board 73,397.00 65,715.57 762.17 256.63 32 269 84 531,780.45 39 501.90 571 282.35 24,702.00 73,397.00 Taxes requisitioned (including debt charges) From own municipality Township of Stephen .. Township of Usborne REVENUE Gross Total Revenue Surplus from Prior Years used to reduce levy 433,110.62 39,501. 90 Skating Ice Rental Hockey Figure Skating . Snack Bar Roller skating Swimming pool Other rentals Horse barn Sign rental Teen Town Parks Park rental Skate sharpening Grants - Town of Exeter Telephone 1,508.30 1,736.00 2,054.12 696.00 4,608.9'7 138.70 662.15 720.00 130.00 675.00 85.00 500.00 100.00 137.39 2,000.00 33.25 A. M. HARPER & CO. Date of filing March 23, 1965 License Number 2775 66,734.37 682.50 230.00 6,801.48 $ 147,845.35 Total Revenue Section 472 612 52 Tuition fees from counties, other school boards and individuals Other Revenue Insurance refund ... Surplus at end of prior year Capital and Loan Fund Balance Sheet EXPENDITURE Actual Budget Total Revenue EXPENDITURE Administration Plant operation and maintenance Instruction Salaries - principals, teachers and inspectors Instructional supplies General Government Executive and Legislative . . Administrative . . ..... Other ASSETS 3,225.00 11,999.74 12 424.64 General Fixed Due from Schools: Public and Continuation . Collegiate and High 329,298.55 238,826,80 151,008.48 291,673.20 146 138.85 1,156,945.88 110,310.83 530,500.00 151 008.48 791,819.31 3,700.84 12,210.32 84,912.34 876.06 27,649.38 27,601.20 166,500.00 72 326.80 • • • Protection to Persons and Property Fire . Police Law Enforcement Street Lighting Protective Inspection . . Ausable River Parkhill darn 9,369.77 14,299.32 48.00 6,677.68 328.70 3,332.04 1 502 78 $15,784.88 78,698.70 6213.64 Due from Utilities and Other Municipal Water Supply System Enterprises: 151 008 48 EXPENDITURE Auxiliary services Other . Salaries and wages Light and power . .. Snack bar Repairs and Maintenance Fuel ... Telephone • • . Advertising and Supplies . Unemployment Insurance . Insurance Bank charges Skate sharpener Office rent Convention and travel Repairs and maintenance barn Swimming pool Grand stand repairs . Bad debt expense . Miscellaneous . . . . 5,245.51 1,988.38 3,744.25 1,246.90 918.45 144.85 457.87 14.54 2,448.0'7 7.82 84.73 100.00 103.50 86.47 517.54 57.71 265.00 40.00 Due from Other Municipalities . Other Tangible Assets Sewage -Ontario Water Resources Commission Less: Reserve for debt retirement 876.06 35,558.29 36,375.00 Debt Charges Long-term debt interest . . . . . 8,715.00 principal instalments 15 500 00 24,215.00 Interest on temporary borrowing, bank charges, etc 2.00 Capital expenditures from current revenue Other Expenditures Share of taxes written off 8.90 150,043.98 3.905.13 Public Works - Roads, Highways and Streets . . . . . . . . (1) 122,692.50 Sanitation and Waste Removal 44,274.04 Social Welfare Welfare Assistance 6,413.34 Institutional Care 5 466 05 11,879.39 107,914.09 (2) 49,853.66 71,950.00 42,325.60 LIABILITIES Debenture Debt Issued and Unmatured General Arena Sanitary sewers 10,300.00 106,697.84 25,400.00 24,217.00 673.25 Education, including debt charges Recreation and Community Services Debt Charges Long-term debt charges . . . 135,285.05 Less own share of school debt charges . . 37,426.56 15,600.00 94 710 83 8.90 126,598.71 21 246 84 $ 147,845.35 Total expenditure Surplus Schools Public and Continuation. . . . Collegiate and High . . . . . . 166,500.00 364000.00 97,858.49 17 471 59 $ 1,686.71 Short-term interest and other charges 251.85 Total Excess of expenditure over revenue Public Utilities and Other Municipal Enterprises: Electric Light and Power . . 151 008.48 98,110.34 104,587.56 1,822.34 1,700.00 36.04 1,300.00 43,378.89 42,875.32 3 104 00 1500.00 546,272.96 472,612.52 25 009 39 57 1282.35 472 612 52 Discount for Taxes . . . . Taxes written off Joint or Special Expenditures County Rates . . . .. . . . 43 378 89 Exeter Industrial Development Corporation Exeter Cemetery Board Total Other Long Term Debt Due to Ontario Water Resources Commission .... . . . . Less: Debt Retirement Fund REVENUE Provisions for Allowances, Reserves and Reserve Funds 150,043.98 3 905 13 Sale of Plots Care of Plots 812.56 Burial Charges 191.00 Miscellaneous Revenue: 135.25 Investment income Foundations . . . . $ 1,138.81 Rent • • Sundry REVENUE 1,517.00 2,967.00 3,840.00 Gross Total Expenditure . • • Surplus for the Year 146,138.85 218 987 72 1 156 945 $8 Grant - Town of Eieter Memberships Banquet Investment in Capital Assets - • 4 • 4 • I • 4 4,034.85 582.40 660.00 63.78 Total Expenditure Section Revenue Fund Surplus Account EXPENDITURE 5,341.03 Provided by Municipality from Tax Levy Total Revenue EXPENDITURES 1,500.00 TREASURER'S COMMENTS: Credit Balance Debit Salaries Travel Banquet and entertainment Printing, postage and advertising Telephone Land options Building permit • . Registration of deed Bank charges , . . • • 480.00 103.90 149.13 361.27 15.00 75.00 16.50 16.42 2100 2.00 15 165 03 97,925.48 Balance at January 1, 1964 . . Surplus included in Current Budget . . . . Adjust various accounts receivable to amounts actually received '71.88 Balance after above adjustments gurplus for the year Totals of Debit and Credit columns 39,573.79 Balance of Surplus December 31, 1964 1. Our budget drawn up to show net cost of Main Street Storm Drain. Audit Report shows total cost under Public Works, offset by Pro- vincial Grant Highway Improvement. 58,423.58 58,351.70 83,361.09 39,501.90 Administration and General . . . . . Maintenance and Care of Buildings, Plots and Grounds . . . 4 4 4 4 4 4 4 • 4 Total EXpenditure Surplus for year . . . . . . . • 815.58 u,46tial 12,283.91 2,881.12 $ 15,165.03 25,r000.39 122 934 87 2. OW' budget draWa up to the* net cost tO TOt•in for construction of Swimming Pool• Audit Report Show* amount taken in as donation's and total amount paid out fOr construction of Pool. 1,244.22 $ 105.41 Excess of expenditure over revenue C. V. Pickard, Treasurer. i