HomeMy WebLinkAboutThe Brussels Post, 1981-05-13, Page 12300 0 778
- 892,152 • ________-
11 930
26,884
( 2,231)
( 291)
5,502
( 264)
6,665
36,265 • _
Al2 - THE' BRUSSELS POST,'MAY 13, 1981
Stratford, Ontario,
April 4th, 1981.
)140 t
Chartered Accountants.
License No. 247
ASS
Current assets
Cash
Taxes receivable
Accounts receivable
Other current assets
Capital outlay to be recovered in
future years
Other long term assets
1979
Actual
S
00,065
44,820
156,620
310,114
320,318
630,432
TOWNSHIP OF GREY
Auditor's Report
To the Members of CeunCil
Inhabitants And Ratepayers of
the Corporation of the Township
of Grey; We have examined the consolidated balance sheet of the
corporation of the Township: of Grey as et. December 31st, 1980 and the eonselidated
statements. of revenue and expenditure, capital operations, continuity of trust
funds, and reserve and reserve funds continuity and analysis of year end
position for the year then ended. Our examination was made in accordance
With generally accepted auditing standards, And accordingly included such
tests and other procedures as we considered necessary in phe circumstances,
In our opinion, these consolidated financial statements present
fairly the financial position pf the Corporation of the TownShip of Grey as
at December 31st, 1980 and the results of its operations for the year then
ended in accordance with generally accepted accounting PrinCiplet for Ontario
municipalities applied on a basis consistent with that of the preceding year.
Township of Carey Auditor's Report cont'd
BALANCE SHEET
aq at December 31, 1980
1980
A01110:
$
145,211
54,124
120,726
580
320,641
665,636
986,277
LIABILITIES
Current liabilities
Net lung term liabilities
Reserves and reserve funds
Accumulated net revenue (deficit) and
unapplied capital receipts
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities
1979
Actual
101,473
62,108
23,215
186,796
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
Other
Revenue to pay for municipal purposes
Region or county requisition
Taxation
Payments in lieu of taxes
Ontario grants
Other
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
1980
Budget
Accumulated net revenue (deficit) at
the beginning of the year 36, 265
STATEMENT OF REVENUE & EXPENDITURE
for the year ended December 31, 1980
1980
Actual
$
36,265
1979
Actual
S
, 103,884
1980
Actual
180,951
91,476
18,025
290,452
393,443
, 240,888
• 61,494
986,277
242,371
, 165,000
36,265
630,432
79,688
33,658
334,541
18,000
1,000
1,700
• 9,500
49,000 •
88,931
• 300,469
389,400
, _916 487
173,028
115
254,660
54,800
17,600 •
91,056
115
91 0 171
• 300,458
320
•
527,087
500,203
588,940
. 90,113
304,343
-394,456
• ---- -------
983,396
180,707
245
305,665
81,894
42,850
611,361 --
92,238
127
92,365
304,476
423
304,899
.1,008,625
61,054 51,151
23,761 25,121
415,109 394,220
10,391 11,862
5,317 1,096
1,699 --
9,270 6,121
62,339 52,489
61,494
95,293
260,030
355,323
• - -
.897,383_
174,377
111 •
231,460
54,848
40,614
501,410
42,116
27
• 27,644
• 258,398
169
542,060
_258,567
829,764
69,787
16,265
The accompanying notes are an integral part
of this financial statement,
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies:
(a) Statement of Revenue and Expenditure:
This statement reflects the revenues and expenditures of the revenue fund
and the following local boards:
Grey Township RecreatiOn Committee
Ethel Community Centre
Cranbrook Community Centre
Moncrieff Community Centre
Township of Grey Firemen's Fund
There are no municipal enterprises consolidated in these results.
(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 boards as described in note 1(a).
(c) Balance Sheet:
This statement reflects the assets and liabilities of the revenue fund,
the capital fund and local boards as described in note 1(a).
(d) Fixed Assets:
The historical cost and accumulated depreciation of fixed assets is not
reported for municipal purposes. Instead, the "Capital outlay to be
recovered in future years" which is the aggregate of the principal portion
of unmatured long term liabilities, capital funds transferred to other
organizations, and the cost of capital projects not yet permanently
financed is reported on the Balance Sheet.
(e) Municipal Enterprises:
Municipal enterprises are those activities whose costs are substantially
recovered from service charges on the users. The enterprises of this
municipality whose revenues and expenditures have not been consolidated
in these financial statements are:
Mount Pleasant Cemetery
Cranbrook Cemetery
(f) Analysed as follows:
General revenue
Region or county
School boards
Special charges
Special areas
Local boards
Municipal enterprises
61,494
STATEMENT OF CAPITAL OPERATIONS
for the year ended December 31, 1980
Charges for Net Long Term Liabilities:
Debt retirement costs including principal and interest are charged against
current revenues in the periods in which they are paid. Interest charges
are not accrued for the periods from the date(s) of the'latest interest
payment(s) to the end of the financial year.
Trust Funds:
Trust funds administrered by the municipality amounting to 0,669. are only
reflected in the Trust FUnds, Statement of Continuity and Balance Sheet.
2. Capital Outlay to be Recovered in Future Years:
(a) Some capital outlay to be recovered in future years does not represent a
burden on general municipal revenues, as it is to be recovered in future
years from other sources: 1979 Special charges on benefitting
landowners
9
18
5,502
( 264)
, 6,665
11,930
41,113
21
265
13,690
( 45)
6,450
(g)
1980
$665,636 $220,318
Unfinanced capital outlay (Unexpended capital
financing) at the beginning of the year
Capital expenditure
General government
Protection to persons and property
Transportation services
Environmental services
Health services
Social and family services
Recreation and cultural servides
Planning and development
Other
Total expenditure
Capital financing
Contributions from the revenue fund
Contribution§ from reserves
and reserve funds
Long term liabilities incurred
Ontario grants
Other.
Total capital financing
Unfinanc&itapitAlliutlay(Unexpended
Capital financing) at the end Of the yeat
the ,ieediwpaiij4iik htiW die an integral pair
of thiifirithiaot
1980
Actual
S
77,947
3,139
74,463
. 577,117
•.654;719
72,054
196,000
88,649
103,770.,.
460,473
272,193
1979
Actual
S
, 310,132
(b) Capital outlays, including fixed assets and the transfers of capital funds,
in the amount of $72,054 which have been financed from general municipal
revenues of the current year, are reported on the Statetent of Revenue
and Expenditure.
3. Net Long Term Liabilities:
487,611
80,748
156,300
, 305,524
, 177,224-
719;796
77,947
2,497
286,959
The balance for net long tent liabilities reported on the
is made up of the following:
Total long term liabilities incurred by the
municipality including those incurred on behalf
Of former school botida, other municipalities and 189;251 municipal enterprises and outstanding at the end
of the year amount to
Of the long term liabilities shown above, the
responsibility for payMent of principal and interest
charges has been assumed by others for a principal
amount of
8,904
Net Long tern: liabilities at the end of the year $393,443 $242,371
4. Accumulated Revenue at the End of the Year:.
The balance in the revenue fund at the year en Is aVailable to Deduce (to be
added to) the levies Of the following classes of tatepayertl
General RatePayert $ 41,113113
0 1979
$ 26,684 Designated knteodyer6 - Police Village of Ethel. ( 4) ( 264)
Tile Drain Pte-levies
13,600 5,562 66661 Board Ratepayers 265 ( 291) County Ratepayers 21 ( 2,231) Local Boards
6,06 ,6,665
Pled8e too to page 16
$ 61,494 $ 36,265
(a)
1980 1979
$465,443 $333;371
72,000 91,000
Balance Sheet