HomeMy WebLinkAboutThe Brussels Post, 1970-07-23, Page 7The Reeve, et-mm.41004
20th. Mar*, 1971
25 13
195 137
220
155
9,135 9,135
29,533 25,741
105,154 85,382
4,334 2;791
420 • 394
148,676 122,443
115 .392
148,941 123,090
REVENUE
Taxation
Contributions from
other governments
Other
$231,690 $103,313
148,941 123,990
6,027 6,708
Total revenue - 386,658 324,011
EXPENDITURE
General governMent
Protection to perSOIIS and property
Public Works - •
Sanitation and waste removal
Conservation of health
Social and. family services
Recreation and community services
Financial expenses
Education
County - Share of expenditure
Other • .•
9,1,78 10,871
4,842 8,039
163,632 145,483
508 390
78 38
6,57:1. 4,241
711 775
9,798 4,715
114,451 94,938
70,592 59,126
1,149 1,096
Total expenditure (Statement.8,•
Note 2) • 381,541 329,713
Excess of revenue over expenditure
for the year 5,117 (5,702)
Surplus (deficit.) at the hegInning
of the year 26,730 32,432
Surplus (deficit) at the end of the year $31,847 $26,730
REVENUE FUND BALANCE SHEET
as at December 31, 1969
assets
Casil 66 2,149
Accounts receivable
Other goVerements
Ontario 40,918
u nici pal 94
41,012 32,048
Municipal Drains 51,689
'51,689 28,015
Other 34
Taxes receivable 50,214 43,151
Total assets $142,981 $105,697
liabilities
Bank overdraft.
Tempora ry loans
Municipal
Municipal Drains
Police 'Village of Ethel
2,049
100,000 60,000
149
4,676
552.
767 1,319_
Other 6,191, 13,305
Other 'liabilities - Deferred Revenue 1,575 837
Snrplas (deficit)
31,847 26,730
Total liabilities $142,981 $105,697
STATEMENT OF SOURCE AND
APPLICATION OF CAPITAL FUNDS
for the year ended December 31, 1969
source of folds
Tile Drainage Program $ 19,700 $ 7,000
Municipal Drains 2,500
22,200 7,000
Contributions from other ,governments
Ontario
Midget Subsidy
Capital expenditure
54,256 44,754
13,563 11,188
Balance at the end of the year net
permanently financed • 90,019 62,942
application of funds
Capital expenditure
Protection to persons and property 3,000
Public Work 67,819 52,942
67,81955.942
Transfers for capital purposes
Land owners • Tile Drainage loans. •
Municipal Drains .
19,700
7,000
2,500
22,200
1,000
Unexpended funds at the end.
PE the year
90,019'
62,942
TaE4' BR.LTSSELS POST, BRUSSELS, ONTARIO THURSDAY, J -01-0. 23rd, i970
p of Grey-Auditor's Repo
STATEMENT OF REVENUE AND EXPENDITURE
for the year ended December 31,,1969
1969 1968
and Ratapayen,
Tqwnship of Greg,
Ethel, Ontario.
Dear Sirs:
As per yeur instructions we
have completed the audit of the
books and ailments of the Town-
Ship of 'Ch•ey and the local boards
for the year ending 31st December
1969, and have prepared the
various statements and schedules
as requtred by the Department, of
Municipal Affairs.
The operations of the Town -ship
General Account for the year
resulted in a serphis ;of $5,117, as
set out in Statement :1. The
accumulated, surplus at 31st
December, 1969; amounted to
$3L847.
We wish to point out that. con-
trary to the provisions of. The
Municipal Act, the bank loan of
$100,000. owing by the Township
at the end of the year was in ex-
cess of the 70% of 1969 'revenues
still owing to the Township at the
year-eed. To rectify this, Council
'should consider creating a reserve
for working capital out of oper-
ations for the next few years of
$20,000. The balance of accum-
ulated surplus should also be
transferred to the reserve in
order to create, a total reserve Of
$50,000. to assist financing °per-
ations.
Subject to the foregoing quail-
tications concerning the excess
bank loan at the year-end, we
hereby report that in our opinion:
1) The finanial transactioes
which have come under our
notice have been within the
powers of the municipality.
2) The audit has been conduct-
ed in accordance with the
instructions of the Depart-
tient of Municipal Affairs,
3) The financial Statenielits
Present fairly the financial
position of the municipality
as at 31st December•, 1969,
and the results of its oper-
ations for the year ended on
that date.
ANALYSIS OF REVENUE
for the year ended December 31, 1969
1969
1968
8171,952
4,466
176,418.
1,093
15,802
231,690 193,313
CONTRIBUTIONS FROM
OTHER GOVERNMENTS
Ontario enterprises
Municipal enterprises
Subsidies
Ontario
Per capita
"Residential property' tax reduction
Roadways
General welfare assistance
Warble Fly
Municipalities
Other Revenue
Licenses and permits
Service charges
Penalties and interest en taxes
Income from investments
Deferred R,evenue taken into income
6,7084
Total revenue 386,653 324,011
ANALYSIS OF EXPENDITURE
for the year ended December 31. 1969
General government
Members of 'Council
General. administration
Unclassified
$ 1,700 $ 1,700
7,478 9,155
16
9,178 10,871
3,919
149
227
3,714
4,842 8,039
127 21
148,166 129,462.
529 1,438
14,811 14,562
163,633 145,483
Sanitation and waste removal
Garbage collection and disposal 508 390
508 390
Conservation of health
Grants to public hospitals IS 39
78 39
6,125 3,484
3i6 757
60
6,571 4,241
TAXATION
Realty - Residential and farm
Commercial and industrial
$209,469
5,150
Business
Special charges
214,619
1,332
15,739
782
1,895
3,234
116
6,027
768
2,025
2,869
847
190
Protection to persons and property
Fire
Protective inspections
Street lighting
'Unclassified
Public Works
Sidewalks
Roadways
Drainage
Unclassified
764
369
156
3,553
Social and family serVices
General assistance . •
Assistance to aged persons
L'nc1a sified
In conclusion we wish to ex-
press our appreciation for the
co-operation which we received
from the officials of your town-
ship with whoni we were in
contact during the course of our
audit.
Respectively submitted,.
Monteith, Monteith & CO.
Chartered Accountants,
License Number 3748
Date nil* March 31st, 1970.
Recreation and Community services
Parks and recreation
Unclassified
Financial expeliaes
ItitereSt on temporary loans
Unclassified
Education
Elementary Public
Secondary
Coatny - share of expenditure
Police Village of Ethel
TOtall eXPenditUre
150'
591 '775
741 775
8,947 4,632
9,798 4,715
61,575 51,128
52.876 43,810
114,451 94,938
70,592 59,126
1,149 1,096
$381,541 329,713