HomeMy WebLinkAboutThe Lucknow Sentinel, 1998-05-13, Page 9,ucknow.Sel*tineLL Wedaesdax May *3,199x- rage 9
Auditor 's FlepcIrt
To the Members of Council. inhabitants,
and Ratepayers of the Corporation of
the Township of Kinloss.
• .r
' We have audited the'consolidated.halance sheet of the Corporation of the Township
of Kinloss as at December 31, 1997.and the consolidated statement of operations for the
Year. then ended. Thesefinancial' 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 reilult'e that we plan and perform anaudit to obtain reasonable
assurariee whether the financial statements are free of material•niisstatement. An audit
includes examining, an a test basis; evidence supporting the amounts and disclosures in
the financial statements. 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°ositfon of the Corporation of the Township of Kinloss as at December 31, 1997
and' the results of Itsoperations for the year then ended in accordance with the
:accounting principles disclosed in Note 1 to the financial statements:
T.4kALo 4 e �.
Township -' f Kiflioss
w�
. CONSOLIDATED' . ALA CE SHEET
...DECEMBER 1st,1,997
Goderlch, Ontario
January 23, 1998
;Licence No. 12031'
Cash
Taxes receivable
Receivables
LUZ
$402,154
101,606.
3Z412
'1536 172
1215,003
124,336
7,651
5346,99,E
'Payables and accruals . . • • 149,611 " - $50,534
Other current liabilities 7,480 5,15$
' 57,091
11JND BALANCES AT THE END OF THE YEAR
To be used to offset (to be recovered
front) taxation or user charges .
in1997 (Note 6) 114,290.
Unexpended capital financing
(Note 6) • 591
• Reserves (Note 7) 364,200'
55,689
•
TOWNSHIP QF KINLQSS
ONSQLIDATED STATEMENT OF QPI
For The Year Endedpeceinber 31,
APPLIED TO: •
Current -:operations.
General government
Fire (Note 3)
Conservation'authority .' .
Protective inspection and control
Roadtti<ays n .
Street lighting
Garbage disposal
Parks and recreation (Note 3),
Municipal drains
Capital
Landfill
Administration.
911 service
l7oadways 67;710 40,702'.
100,000 67,71.0 , . 45,020,:
601•,918 543,013 546,755
Budget
. 3104711
15,000
6,7.07
8,000 G
292,000
2,500
30,000
35,000"
10,000,
Actual
1997
Actual ,
1990
$99,983 , $98,063
12,268 12;869
6,707 7,073
6,205 ` .6,184. '
295,976 '. . 289,47.7
2,447 2,091.
24,807 " 228,726
19;901 38,797
' '7,009 18;455
501,918 415,303 • 501,735
5;000;
1.2,000
83,000
4,318 '
' Total funds expended' for the year
Net appropriations to reserves and
reserve funds (Note 7) •
MUNICIPAL FUND BALANCES
.END OF YEAR
To be used to:
offset taxation
or user charges (Note 6)
!Unexpended capital financing
(Note6)
TOTAL APPLICATIONS FOR THE YEAR
175,000
175;000 80500
114,290.'"
591
114,881
101,515
59.1,
102,1116
• $77 6;918"'• $832,894 $728,861
--,-�-�- TOTAL FINAiVCiNG AVAILABLE FOR THE YEAR: $776.918. $832,894 •
'SOURCES OF FINANCING:
Taxation and user charges`
Residential and farm taxation
Commercial; industrial and business
taxation .•
Telephone levies
Taxation from other governmcnts
Municipal drainage charges
Licences end'pertnits •
Fees and service charges
Streettighting '
Grants
'Province of Ontario,
Federal
Other municipalities
Other.
Penalty and interest ort taxes°•
investmernt iriconjie •
Miscellaneous revenue .
•
Total funds raised for; the year
Deduct; amounts received or receivable
for county'` and school boards (Note 2)
Budget
.1997
ACtt+al Actual
192I
$713,012. • 1713,408 . 1707,979 •
46;958 48,385 49,706
19,066 19,066 16,579
1529 1528.;.
, 5,000 5;488 9,089 •
6500 10591 13585 .'
8,000 29,835 17;132..
2;385 2585 2,316
,800,421 831,087 `817,414
438;984:
438,984
14,000. 14,812 • 17,767
2,955 429
1,000 1;714 1,606
• 15,000" `' 19481, 19502
456,971 470,247
3,560
1,805 1,311
464336 471558
1;254,405 1,312504 1,308,774
579,593 (582,116) (577,147) ;.
6745.12 730,788":731,627
MUNICIPAL FUND BALANCES-...(Deficier (Deficiencies) BEGINNING OF•YEAR ' ,
To be used to offset taxation (to be recovered from) .
taxation or user charges (Note 6)' 101515 101,515' (3,357)
1lnexpended capital financing (Note 6); • " ' ". ; 591 591 591
102,106 102,106 (2,766),
Complete: Auditor's report is available • at the 'township Office. "
XiA
1728,861