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Home My WebLink AboutThe Brussels Post, 1981-04-08, Page 81980 Actual S 41553 . 77469 17642 297395 7808 935 10235 65944 477428 59461 226062 285523 762951 120002 689 212633 4723 55020 33429 426496 '59695 TOWNSHIP OF MORRIS Morris Township Auditors' Report To the Hember4 of Council, Inhabitants and Ratepayers of the Township of Morris I have examined the consolidated ' balance sheet of the Township of -Morris as at December 31, 1980, and the consolidated statements of revenue and expenditure, capital operations, and reserve and reserve funds continuity and'analysis of year end position for the year then ended. My examination was made in accordance with generally accepted auditing , standards, and accordingly included such tests and other procedures as I .considered necessary in the circumstances. In my opinion, these consolidated financial statements present fairly the financial position of the Township of Morris as at December 31, 1980, and the results of its operations for the year then ended in accordance with generally accepted accounting principles for Ontario municip4lities applied on a basis consistent with that of the preceding year. Capital financing Contributions from the revenue fund Contributions from reserves and reserve funds Long term liabilities incurred Ontario grant; Other Total capital financing Unfmanced capital outlay (Unexpended capital financing) at the end of the year 91777 27985 156600 286633 49190 11/209 9626 46414 195225 584200 40819 29427 ASSETS BALANCE SHEET as at December 31, 1980 Blyth, Ontario 13th March, 1981 'Licence Number 236 STATEMENT OF REVENUE AND EXPENDITURE for the year ended December 31, 1980 1980 Budget Accumulated net revenue (deficit) at the beginning of the year Expenditures and transfers Municipal expenditures General government Protection to persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning and development Other Total expenditure Transfers Transfers to region or county Transfers to school boards Total transfers Total expenditures and transfers Revenue by purpose Municipal purposes Taxation Payments in lieu, of taxes Ontario grants Other grants Fees and service charges 53194 Other 27000 439313 Region or county requisition Taxation Payments in lieu of taxes Ontario grants Other 1980 Actual 1979 Actual 45385 14980 49141 48725 239753 46107 334279 109812 465112 334768 799391 444580 Current liabilities Temporary loans Accounts payable and accrued liabilities Other current liabilities NOTES TO THE FINANCIAL STATEMENTS 1979 Actual $ (25270) 42293 16007 238914 6257 873 2903 56545 363792 78699 197381 276080 639872 146896 900 219758 4187 43008 17695 432444 53753 24514 41553 86000 11500 319200 3500 7500 53194 480894 57967 219946 277913 758807 106410 800 251909 Revenue to pay for municipal purposes 57967 Current assets Cash Taxes receivable Accounts receivable Other current assets Capital outlay to be recovered in future years Other long term assets LIABILITIES Net long term liabilities Reserves and reserve funds Accumulated net revenue (deficit) and unapplied capital receipts 1980 Actual 1979 Actual $ 246500 44600 87728 13086 334228 57686 1 424293 305341 50000 40000 (9130) 41553 799391 444580 1. ACCOUNTING POLICIES Revenue to pay the region or county requisition School board requisition Taxation Payments in lieu of taxes Other Revenue to pay the school board requisition Total revenue Accumulated net revenue (deficit) at the end of the year Analysed as follows: General revenue Region or county School boards Special charges Special areas Local boards Municipal enterprises 57967 59695 219946 226077 219946 226077 717226 712268 (28) (9130) (9503) 18 254 (62) (47) 16 166 (28) 78267 (a) Statement of Revenue• and Expenditure This statement reflects the revenues and expenditures of 195984 the revenue fund and the Township of Morris Recreation Committee. 195984 (b) Statement of Capital Operations This statement reflects the capital. expenditure of the municipality to be recovered from the general municipal revenue of the municipality and its local board as described in note 1(a). 41553 (c) Balance Sheet This statement reflects the assets and liabilities of the 41581 18 revenue fund, the capital fund, reserve funds and the local board as described in note 1(a). (62) (d) Fixed assets The historical cost and accumulated depreciation of fixed assets is not reported for municipal purposes. Instead, 16 the "Capital outlay to be recovered in future years" which is the aggregate of the principal portion of unmatured long term liabilities and the cost of capital 41553 projects not yet permanently financed is reported on the Balance Sheet. (9130) 706695 Municipal Enterprises There are no municipal enterprise activities carried On by the municipality. Charges for net long term liabilities Debt retirement costs including ptincipal and interest are charged against current revenues in the periods in which 1079 they are paid. Interest charges are not accrued for the Actual periods from the dates of the latest interest payments to $ the end. of the financial year. 2. CAPITAL OUTLAY*TO BE RECOVERED IN FUTURE YEARS Same capital outlay to be recovered in future years does not repteaent burden on general municipal teVerittea,.ie it is to be recovered in future years from Other sources: 2454 1080 1979 18211 Special charges on benefitting landowners $ 0420 $ 305341 151429 (b) Capital Outiayd4 including fixed assets and the transfers of capital funds in 6he AmOunk Of $79027, Which haVe been financed from antral municipal revenues of the, current year; 172094 are reported On the: Statement Of Revenue and Expenditure. The accompanying NOUS are an imegnal pars of this financial Stettlfaltt. STATEMENT OF CAPITAL OPERATIONS for the year ended December 31, 1980 (e) (fr General government Protection to 'persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning and developinent Other Total expenditure Unfinanced capital outlay (Unexpended capital financing) at die beginning of the year Capital expenditure • , 22002: 595592 364612 1980 Actual $ 2 9427 1048 52558 (a) Chartered Accountant A8 -- THE BRUSSELS POST, AORIC..til '190)