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HomeMy WebLinkAboutThe Brussels Post, 1977-05-25, Page 14tc tl el 0 re of NE (b $7' $3 TA Re Br Spy On On Ott Gei Me Gei Pro Fin Cor Fri Roy Str Env Ga Ga Soc Ge Ree Rec Tile Tot 4wramis, TOWNSHIP OF MORRIS Accounts payable and accrued Liabilities • . • LIABILITIES 1,923 9,748 Current Liabilities 51,761 26,404 Temporary loans 36,500 19,905 19,262 Net long term liabilities ' 118,991 Reserves and reserve fun& 30,000 Accumulated net revenue (deficit) • and unapplied capital receipts . 2,756 NOTES TO THE FINANCIAL STATEMENTS 27,000 5,988 32,988 '110,216 20,000 17,402 180,606 55,414 125,192 73,589 127,779 13,121 49,621 57,812 - 69,581. Unfinanced capital outlay [Uexpended capital financing] at the end of the year 8,788 14,976 BALANCE SHEET as at. December 31, 1976 201,368 201,368 180,606 School boards 22 (229) Special charges 436 Special areas 97 Local boards 416 516 2,756 17,402 [e] Municipal enterpkises There are no municipal enterprise activities carried on by a local board or by a committee of council of the munieipality- [FE Charges for net, long term liabilities Debt retirement costs including principal ands. interest are charged against current revenues in the periods in which they are paid. Interest charges are not accrued for the periods from ,-'the dates of the latest interest payments •io the end of the financial year. 2. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEW Soule 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: Special charges ,on benefitting Charges relating to reklential planning and development 1976 118,991 8 788 $127,779 1975 $110,216 14;916 $125,112 London, Ontario March 17, 1977 Licence number 420 financial position of the funds of the Township of Morris and its local board as at December 31, 1976 and the results of their operations for the year then ended in accordance with accounting principles generally accepted for Ontario Municipalities applied on a basis consistent with that of the preceding year. Thorne Ridden & Co, Chartered Accountants 53,180 128 18,607 54,652 85 13,875 EXPENDITURE General muncipal purposes General government Protection to persons and property Transportation services Environmental services Social and family services Recreation and cultural services Planning and development Region or county purposes School board purposes REVENUE General municipal purposes Taxation Payment in lieu of taxes Ontario grants Other Unfinanced capital outlay [Unexpended capital financing] at the beginning of the year Capital expenditure Transportation services Planning and development Total expenditure ASSETS Current Assets Cash Accounts receivable Taxes receivable Capital outlay to be recovered in • future years 14-THE BRUSSELS POST, MAY 25, 1977 """1"." Ethel ladies attend RNA graduation Correspondent Mrs. Cliff Bray The May meeting of the U.C.W. was held at the home of Mrs. George Pearson on Thursday aft ernoon, May 19th. Elaine Woods and Mrs. Ed. Gill attended the R.N.A. Gradua- tion for Roberta Lynn Hanna in Wingham District Hospital on Friday, May 20th. Mr: and Mrs. Gordon Towers of Prince Edward Island are visiting with Mr. and Mrs. Cecil Raynard. Mr. and Mrs. Doug. Davidson and Blair, Mr. and Mrs. Doug Bremner of Kitchener, and Christopher_ were also at their home on the weekend. Mr. and Mrs. Ken Bray, Mr. and Mrs. Larry Bray and family, Mr. and Mrs. Stuart Hunter and family visited Mrs. Bert Bray of Brussels on Sunday. Weekend visitors at the home of Mr. and Mrs. Charlie Scheerer were Mr. and Mrs. Clifford Querengesser, Jim and Keith of Grand Valley and also Mr. and Mrs Raymond Schneider and daughters of Stratford; Mr. Wm. Jonas of Kurtzville; Mr. and Mrs. Rick Mason and girls of Arthur: Mr. and Mrs. Clifford Querengesser have moved their mobile home to their lots in Ethel. Give yourself a break. Take a walk. -17 PORMIPaft10/1 WalkaMoclOWay. • Use this coupon to subscribe to The Brussels Post The Brussels Post Box 50 BRUSSELS Please enter my subscription to The Brussels Post . Start ' with the earliest possible issue. In Canada $ 8 yearly 0 Elsewhere $14 yearly q Payment enclosed Send bill El NAME ADDRESS Ij CITY & PROVINCE POSTAL CODE ore.: To the Ratepayers and Members of the Municipal Council of The Township of Morris We have examined the 1976 tinanclal statements, with the exception of the Six Year Financial Review (6FR) and the Analysis or Net Cash (Loan) Positon (NC) of the township of Morris and of its local board, which are listed on the attached index. Our examination was made, in accordance with generally accepted auditing standards, and accordingly included such tests and other procedures as we considered necessary in the circumstances. In our opinion, these financial statements present fairly the 1976 1975 Actual Actual Accumulated net revenue [deficit] at the beginning of the year 17,402 (20,457) Region or county purposes. Taxation Payment in lieu of taxes Ont ario grant s School board purposes Taxation Payments in lieu of taxes 71,915 68,612 33,439 8,008 165,085 2,556 35 1,100 21,289 19,751 5,393 122,706 2,249 2,308 (15,925) Total Revenue 137,300 99,527 425,173 346,438 136,978 322 99,375 152 231,512 71,258 137,049 136,482 Accumulated net revenue [deficit] at 72,321 the end of the year, 2,756 17,402 • 99,776 ii Analysed as -follows: 308,579 General revenue 1,994 16,915 Region or county 324 (333) 215,958 78,834 146 128,696 8,282 85,673 114 87,654 4,858 178,299 STATEMENT OF CAPITAL OPERATIONS for the year ended December 31, 1976 1975 Actual Capital financing 57,812 14,976 49,415 20,166 Contributions from the revenue fund Long term liabilities incurred • Ontario grants Other Total capital financing 25,500 38,500 64,000 54,605 (15,195) 16,600 32,200 21,000 Total expenditure 439,819 1. Accounting Policies [a] Statement of Revenue and Expenditure This statement reflects the revenues and expenditures of the revenue fund of the municipality and includes the activities of all committees of council and local boards for general municipal activities; accordingly, the activities of the Township of Morris Recreation Committee are included. • [b] Statement of Capital Operations This statement reflects the capital expenditures and the related capital financing to be recovered from general municipal revenues of the municipality and its local board described in note 1(a). [e] Balance Sheet This statement reflects the assets and liabilities of the revenue fund ; the capital fund and the local board 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 prineipal portion Of _immature& long terni liabilities and the Cost of capital projects not yet permanently financed ; is reported' On the "Balance Sheet".