HomeMy WebLinkAboutThe Citizen, 1987-05-27, Page 18PAGE 18. THE CITIZEN, WEDNESDAY, MAY 27, 1987.
VILLAGE OF BLYTH
CONSOLIDATED AN A NO AL STATEMENT
AS AT DECEMBER 31,1986
To the Members of Council, Inhabitantsand 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, 1986 and the consolidated statements 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
AUDITOR’S REPORT
financial position of the Corporation of the Village of Blyth as at December 31,
1986 and the results 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
April 2,1987
Licence No.: 1110
Vodden & Bender
Chartered Accountants
1986
ASSETS
Consolidated Balance Sheet
as at December 31,1986
1985
Unrestricted
Cash 115,853 62,046
Taxes receivable 42,837 28,520
User charges receivable 19,091 22,734
Accounts receivable 23,326 68,732
Other current assets -7
Restricted
Cash
Accounts receivable
210,107 182,039
9,506 16,419
21,000 19,744
30,506 36,163
$ 231,613 $ 218,202
LIABILITIES
Accounts payable and accrued liabilities
FUND BALANCES AT THE END
OF THE YEAR
To be used to offset taxation
or user charges [note 5]
Reserves [note 6]
Reserve funds [note 6]
I
1986 1985
73,519 55,531
63,588
64,000
30,506
73,100
53,408
36,163
$ 231,613 $ 218,202
The accompanying notes are an integral part
of this financial statement
SOURCES OF FINANCING:
Taxation and user charges
Residential and farm taxation
Commercial, industrial and
business taxation
Taxation from other governments
User charges
Grants
Province of Ontario
Other municipalities
Other
Penalties and interest on taxes
Investment income
Other
Deduct: Amounts received or receivable
for county and school boards [note 2]
Consolidated Statement of Operations
for the year ended December 31,1986
134,624
1986 1986 1985 1986 1986 1985
Budget Actual Actual APPLIED TO:Budget Actual Actual
Current operations
242,612 242,544 223,241 General government 55,000 59,177 100,860
Protection to persons and property 11,300 12,572 9,533
120,983 123,104 107,867 Transportation services 84,500 66,971 83,838
9,826 10,399 10,347 Environmental services 182,103 167,161 171,583
247,015 250,542 211,184 Health services 11,431 10,043 10,890
Social and family services 2,000 1,745 1,820
Recreation and cultural services 145,163 128,595 122,283
137,565 137,760 164,013 Planning and development 4,500 3,600 10,709
10,159 10,159 22,756
495,997 449,864 511,516
Capital
4,266 5,436 Street reconstruction 41,500 42,842 107,464
6,343 6,586 7,463 Truck purchase 14,500 25,378
--62,818 Garbage disposal site 20,500 20,390 8,000
Recreation and arena land 19,000 16,136 19,160
Watermains 22,000 >32,870 -
[202,437][203,627][183,794]
117,500 137,616
Total financing available
during the year
MUNICIPAL FUND BALANCES AT
THE BEGINNING OF THE YEAR
To be used to offset taxation or
user charges [note 6]
576,332 582,903 625,895
73,100 73,100 101,537
$ 649,432 $656,003 $ 727,432
Net appropriations to reserves and
reserve funds
MUNICIPAL FUND BALANCES
AT THE END OF THE YEAR
To be used to offset taxation or
user charges [note 5]
4,935 4,935 8,192
31,000 63,588 73,100
The accompanying notes are an integral part of this financial statement
Total applications during the year $ 649,432 $ 656,003 $ 727,432
Note to Trust Funds
December 31,1986
1. Accounting policies
[a] Basis of accounting
Income and expenditure of the trust funds are reported on the cash basis
Trust Funds
Statementof Continuity
for the year ended December 31,1986
of accounting. Income is recognized as received.
[b] Invesments are stated at cost. Investments held are generally not
negotiable before maturity.
Cemetery
Perpetuity
Balance Sheet
December 31,1986
Balance January 1
Receipts
Perpetual care
Donations
OH RP advances
Interest earned
I
Expenditure
Loans forgiven
Administration costs
Transf ers to cemetery
Balance December 31
Ontario
Home
Renewal
Plan
25,384 6,971
630
500 -
10,000
2,498 316
3,628 10,316
1,298
121 400
2,377 -
2,498.1,698
$ 26,514 $ 15,589
Assets
Cash
Cash held by Public Trustee
Investments, cost
Government of Canada
Ontario Hydro
Bank certificates
Loans receivable
Dueto Villageof Blyth
Duetocemetery
Net assets
Trust fund balances „ ... .__________________Continued on page 19
1,683
9,363
7,607
100
10,456
7,000
17,556
[2,088]
8,307
[325]
$ 26,514 $ 15,589
$26,51£ s 15.589