The Lucknow Sentinel, 1987-07-01, Page 10Page 8--Lucknow Sentinel, ,Wednesday, July 1, 1987
The Township of Kinloss
Auditor's Report and Financial Statements
FOR THE YEAR ENDED DECEMBER 31, 1986
Auditor's
Report
To the Members of Council, Inhabitants,
and Ratepayers of the Corporation of
the Township of Kinloss
We have examined the consolidated balance sheet of the Corporation of the
Township of Kinloss as at December 31, 1986, 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 Township of Kinloss as at December
31, 1986, and the results of its operations for the year ten ended in accordance
with the accounting principles disclosed in not 1 to the financial statements
applied on a basis consistent with that 'of the receding year.
Listowel, Ontario
April 3, 1987
Licence No. 1203
CHARTERED ACCOUNTANTS
Consolidated Balance Sheet
AS AT DECEMBER 31, 1986
ASSETS
UNRESTRICTED
Cash
Taxes receivable
Accounts receivable
Other current assets
Tax registration accounts
LIABILITIES
Temporary loans and advances
Accounts payable and accrued liabilities
Other current liabilities
FUND BALANCES
To be used to offset taxation or user charges
in 1987 (note 7)
Capital operations not yet permanently
financed (note 7)
Reserves (Dote 8)
1986 1985
$107,947 $ -
127,657 93,807
47,656 137,828
1,595 4,485
3,525 23.052
$288,380 $259,172
$ - $ 8,834
105,214 50,705
29,980 27,178
135,194
86,717
19,830 9,554
(71,644) . (4,099)
205,000 167,000
$288,380 $259,172
Consolidated Statement of Operations
FOR THE YEAR ENDED DECEMBER 31, 1986
SOURCES OF FINANCING:
Taxation and user charges
Residential and farm taxation
Commercial, industrial and business
taxation
Telephone levies
Municipal drainage charges
Licences and permits
Fees and service charges
Street lighting
Grants
Province of Ontario
Other municipalities
Other
Municipal capital drainage collections
Penalty and interest on taxes'
Investment income
Sale of land
Total funds raised for the year
Deduct: amounts received or receivable
for county and school boards (note
MUNICIPAL FUND BALANCES - BEGINNING OF YEAR
To be used to offset taxation or user
charges (note 7)
Capital operations not yet permanently
financed (note 7)
TOTAL FINANCING AVAILABLE FOR THE YEAR
Budget
1986
Actual
1986
$444,614 • $445,676
17,124 19,071
8,945 , 13,156
7,860 548
'3,000• 4,564
3,510 2,804
1,221 1,120
486,274 486,939
422,764
6 , 000
428,764
3,299
14,000
200
17,499
Actual
1985
$411,617
17,663
7,970
18,659
4,471
3,470
1,127
464,977
437,191 393,258
5,647 8 186
442,838 401,444
2,642
16,467
3,528
23.824
46,461
22,266
17,266.
1,333
40,865
932,537 976,238 907,286
2) (324,795) (32 9,656) (295 400)
607,742 646,582 611,886
9,534
9,554
(4,099) • (4,099)
5,455 5,455
$ 613,197 $ 652,037
11111111111.1111
356
331)
(38,175)
$572,911
maOmmumumm
APPLIED TO:
Current Operations
General government
Fire (note 3)
Conservation authority
Protective inspection and control
Roadways
Street lighting
Garbage disposal
Public health services (note 3).
Hospitals
Parks and recreation (note 3)
Planning and zoning
Municipal drains
Capital
General goverment
Roadways
Health services
Municipal drains
Parks and recreation
Total funds expended for the year
Net appropriations to reserves and
reserve funds (note 8)
MUNICIPAL FUND BALANCES - END OF YEAR
To be used to offset taxation or
user charges (note 7)
Capital operations not yet permanently
financed (note 7)
TOTAL APPLICATIONS FOR THE YEAR
Budget
1986
$ 71,013
10,000
5,963
5,000
236,000
1,221.
15,500
5,000
150
18,000
2,000
10,000
379,847
25,000
209,350
.10
__AMP
239,350 295,924 ` 128,87
Actual Actual
1986 1985
$ 62,883
11,974
5,962
3,003
246,807
1,173
12,055
3,196
150
15,998
6,726
369,927
25,718
269,777
429
$ 64,835
8,964
5,622
3,274
268,477
1,221
6,382
3,667
150
16,328
870
21,796
401,586
125,141
940
2,789
VIM
619,197 665,851 530,456
38,000
37,000
19,830 9,554
6,000 (71,644) (42099)
(6,000) (51,814) 5,455
$613,197 $652,037 $572,911
411111101111