HomeMy WebLinkAboutThe Lucknow Sentinel, 1997-04-16, Page 14. .
Page 14 - imeknow Sentinel; Wednes4aY, pri1 I1 19$7
Auditor's port
To the Members. of Council, Inhabitants,
Re
and Ratepayers of the Corporation' of
• the Township ofKinioss.
We have audited the consolidated balance sheet of the Corporation of the Township
of Kinioss as at December 31, 1996 'and the consolidated statement of operations for the
year then ended. These financial statements are the responsibility of • the Township's
management Our responsibility is to express an opinion on these financial statements
based on our audit,
We. conducted our audit in accordance with generally accepted auditing standards-.
Those standards require that we plan and perform an audit to obtain reasonable
assurance whether the financial statements are free of material niiistatement An audit
includes examining, on a test basii, evidence supporting the amounts and disclosures in
the financial Staterrients. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial
statement presentation.
In our opinion, these consolidated financial statements present fairly the
financial position of the Corporation of the Township of Kinloss as at December 31, 1996
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: •
• .
Goderich, Ontario
laritiary 29, 1997
Licensee No. 1203 '
•
.'.Chatiered AcCountauts
yx• go41.14,1.4.01;•104,•••••:.'"
N.. •
•
• .., • :4•:".
•
Township of inloss
CONSOLIDATED BALANCE SHEET
DECEMBER 31st, 1996
UNRESTRICTED
Cash
Taxes receivable •
Accounts Receivable
Tax registration accounts
1. •
ASSETS
,
$215,0Q8
124,336
7,651 , 47,442
2,211
.1.924
$19,313
117,725
- $346,995 $186,691
viimwmixag.
LIABILITIES
Payables and acCurals. , . '1 ' . ' : , - $50,534
. . Other current liabilities"••' . • , . ' 5,155 ' ' • • . 5,155
. ,
, ,, ,
• -.. ' .. . ' '55,689 . , . ,- :-. ,.„ .80,257
. ,
, . • ' . , ,
• . . • . , F(.114kRAPiNCES ATTNE END OF TRE YEAR
To be used to Offset (tabe recovered I. .• , . ' . . '
.ficim) taxation or user charges • . ' • •, • • = -,•,•
, in.1991(Note6) . . ' '•. ' „ . , , • 101,515 . 1:.(3,357),
• Unexpendedcapital. financing. . •, ' - '.1. ., ' 1, . . . '. ' •
. ,
(Note 6) . . , . „ ',' • ' ". ' . , 591 - ' • 591.
Reserves .(Note 7) 1 • .. . ,.. • ,189,200 • : • 109,200 ,
• $346,995 , i186,691.'
APPLIF-D TO: ' • •
Corrent Operations'
General government.
. Fire ciNlote 3)
Constervation authority
•• Protective inspection and control
:Roadways
Street lighting •
• Garbage disposal'
' 'Parks and recreation (Note 3) • .
Municipal drains
Planning and zoning . •
Gravel pit farm
Capital •• •,
AcIminIstratiOn
Arena (Note 3)
Roadways
•
Total funds expended for the year
. • , •
Net appropriatioaS to reserves and
•
reeve
rfunds (Note 7)
MUNICIPAL. FUND BALANCES
(Peffeiencies) END OF YEAR
To be used to offset (t6 6e
recoveredfroin) taxation •
Or user charges (Note 6)
•
Unexpended. capital finanding
(Note ' •
' TOTAL APPLICATIONSIOlitliE YEAR
. • -
,r1
Budget • Actual Actual
1990 • . 1996 ' 1995
$95,683
15,000
7,073
. 8,000
275,500
2,500
28,000
'35,000
1$3,000
48.1,756
14,800
/110,000
.124,800..
006556
80,000
• .
$98,063 $93,276
' 12,869 12,081
7,073 • •• 6,963
6,184 9;568:
285,006 195,452
2,091 2,230
28,726 2441.8
38,797 334869 •
18,455 8,575,
43,164
497264 429,626.
4;318
. • 100,090
40,702. 364,441
• 45,020 -1 464,441 '
542,284 , 894,067
• •
80,009 .
101,515 (3,$50
.5, ,91 591
• 102,106 •••
(2,766)
• $686,556 $724;390
• $891,301
Aimpoommion,
sourm, OF P1rimai4c; ,
taXation antlinser charges
Residential: and farm taxation'
• Chrinercial, industrial 'Ax,a business
taxation
Telephone levies •
Taxation from other governments •
Municipal drainage charges ,
Licences and perinits
Fees and service charges
• Streetlighting
Grants •
Province of Ontario
Pdcteral
Other municipalities
. .
Other • 1 t ' ;•' . '
. ' Penalty arid interest on taxes "1 14,000 17,767 1 15,862
investment intome - 429 ' .3,991
Miscellaneous revenue 2000. 1,606 • 1,910
1,000 19,802 , 21,765 "
•
,Budget.
•
•
• 1996 ,
Actual ActUal
- 199.5 -
t
$702,067 $707,979 $693,090
45,704. • , 49,706 31,262 •
16,578 16579 15,059
1,528 1967,
5,000 9,089 . 5,479 '
• 5,500 13,085 9,429 -
8,000 12,661 . 10,769 ••
2315. 2,316 2544
785,104
456.i303 .470,247
' 1,311
81'2,943 • 769,59(1
• 476,800 ,
39;369 2 •
1,599
456,803 • '471,558' • 517,759
•
Total funds raised for tkireir ..1257,967 '1,304;303 1,309,114.. •
Deduct: amounts:receivedor receivable ' • d
. for county andschooLhdards..(Note 2) -• • (568,645) . (549317)
. . .
" • • • 689,322 , . 727,156 759,737
•
lie appropriations from reserves and. . .
reserve funds (Note 7) • : • • 25,000. • .
MUNICIPAL FUND BALANCES- (Deficiencies). BEGINNING OF YEAR
.Tolbe used to offset taxation (to be recovered from)
taxation or user charges (Note 6) . • • (3,35-7) .• (3,357) • , • • '105,973.
Unexpended capital financing, (NOte 6) • • 591 . , 591 .591. ;
(2,760 . (2.:766) • • 106,564'
TOTAL FINANCING AVAILABLE FOR YEAR • $686;556 . .$724,390: • 301,
• 84.1.000.0.... amomminans.
A :complete Auditor's report iS available at the TOwtlettip;Offidep.'
• „.