HomeMy WebLinkAboutThe Citizen, 1990-06-27, Page 14PAGE 14. THE CITIZEN, WEDNESDAY, JUNE 27, 1990.
A.
>tfi VILLAGE OF BLYTH
CONSOLIDATED FINANCIAL STATEMENT
AS AT DECEMBER 31, 1989
AUDITOR’S REPORT
To the Members of Council, Inhabitants and
Ratepayers of the Corporation
of the Village of Blyth
We have examined the consolidated balance sheet of the Corporation of the
Village of Blyth as at December 31, 1989 and the consolidated statement of
operations 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 the circumstances.
In our opinion, these consolidated financial statements present fairly the
financial position of the Corporation of the Village of Blyth as at December 31,
1989 and the result of its operations for the year then ended In accordance with
the accounting principles disclosed in note 1 to the financial^ statements applied
on a basis consistent with that of the preceding year.
Clinton, Ontario
March 23,1990
Licence No.: 1110
Vodden, Bender & Seebach
Chartered Accounts
Village of Blyth
Consolidated Balance Steet
as at December 31,1989
1989 1988 1989 1988
ASSETS LIABILITIES
Unrestricted
Cash
Taxes receivable
User charges receivable
Accounts receivable
300,436
39,286
25,013
60,650
175,675
39,703
49,447
32,666
Accounts payable and accrued liabilities
Deferred liabilities
56,922
8,726
65,648
29,368
29,368
425,385 297,491
FUND BALANCES AT THE END
OF THE YEAR
Restricted
Cash 2,500 14,015
$ 427,885 $ 311,506
To be used to offset taxation
or users charges [note 5]
Reserves [note 6]
225,415
134,322
115,618
152,505
Reserve funds [note 6]2,500 14,015
$ 427,885 $ 311,506
The accompanying notes are an integral
part of this financial statement
1989 1988
Assets
Cash
General
Park land reserve
216,667 99,277
1,666
Village of Blyth
BALANCE SHEET
December 31,1989
1989
Liabilities, Reserves and Accumulated Net Revenue
Current Liabilities
Accounts payable
Deferred liabilities
* ■
1988
Term deposits
Ball diamond expansion reserve
Sewerage
Sewerage extension
30,000
2,500
12,349
30,000
Accounts receivable
Government of Canada
Province of Ontario
Other municipalities
Hydro and waterworks
Blyth and District Community Centre
Other - general
sewerage user charges
Taxes receivable
52,941
3,591
5,190
1,924
8,952
39,286
1,533
18,658
8,795
18,766
24,426
1,150
26,420
39,703
$ 361,051 $ 282,743
Reserves and reserve funds
Reserve for working funds
Reserve for fire truck purchase
Reserve for street construction
Reserve for public works truck
Reserve for disposal site improvements
Capital works reserve
Reserve for downtown improvement
Reserve for memorial hall improvements
Reserve for recreational and cultural facilities
Reserve for cemetery maintenance
Reserve for hospital grants
Ball diamond expansion reserve fund
Park land reserve fund
Sewerage extension reserve fund
164,215
42,309
8,726
22,696
51,035 22,696
65,000 60,000
8,836 5,000
5,000 5,000
4,500 3,000
5,000 "5,000
22,000 44,200
-3,500
7,000 7,000
6,500 12,500
6,000 5,000
2,000 -
-12,349
-1,666
2,500 -
134,336
Accumulated net revenue
General
Sewerage
94,962
80,718
38,808
57,024
I
175,680 95,832
$ 361,051 $ 282,743
BLYTH SEWERAGE
Statement of Revenue and Expenditure
for the year ended December 31,1989
Accumulated net revenue
beginning of year
Revenue
Sewerage surcharges - residential
commercial
Penalties
Annual frontage charges
Annual connection charges
Interest
1989 1988
$ 57,024 $ 38,150
90,915 86,590
16,485 16,095
771 722
6,019 6,019
3,495 3,495
2,616 1,842
120,301 .114,763
Expenditure
Operating charges -
Ministry of the Environment
Frontage and connection charges transferred
to the Ministry of the Environment
Sewerage expansion study
Administration and collection
Accumulated net revenue end of year
1989
82,344
9,513
627
4,123
96,607
$ 80.718
1988
82,344
9,513
4,032
95,889
$ 57,024
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