HomeMy WebLinkAboutThe Lucknow Sentinel, 1988-06-15, Page 12Page 1-Luclmow Sentinel, Wednesday, June 15, 1988
The Township of Kinloss
Auditor's Report and Financial Statement
FOR THE YEAR ENDED DECEMBER 31, 1987
Auditor's
Report.
To th;. Members of Council, Inhabitants,
Ind Ratepayers of the Corporation of
the Township of Kinloss
We have examined the consolidated balance sheet of the Corperation of the
Township of Kinloss as at December 31, 1987 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 rests and
other procedures as we considered necessary in the circumstances.
t.
Tn our opinion, these consolidated financial statements present fairly the
financial position of the Corporation of the Township of Kinloss as at December
31, 1987, and the results of its operations for the year then ended in accorda.ce
with the accounting principles disclosed in note 1 to the financial state -tents
applied on a basis consistent with that of the preceding year.
Goderich, Ontario
Fcbrucry 2°, 1988
Licenrr No. 1203
CHARnKED AC;;OLNTANTS
TOWNSHIP OF KINLOSS
CONSOLIDATED BALANCE SHEET
AS AT DECEMBER 31, 1987
ASSETS
UNRESTRICTED
Cash
Taxes receivable
Accounts receivable
Other current assets
Tax registration accounts
LIABILITIES
Accounts payable and accrued liabilities
Other current liabilities
COMMITMENT (note 9)
F U N'D BALANCES
To be used to offset taxation or user charges'
in 1988 (note 7)
•
Capital operations not yet permanently
financed (note 7)
Reserves (note .8)
APPROVED BY COUNCIL
REEVE
1987 1986
$159,743 $107,947
111,669 127,657
47,596 47,656
665 1,595
13,247 3,525
$332,920
S 30,491
26,622
$288,380
$105,214
29,980
57,113 135,194
69,407 19,830
(8,646) (71,644)
215,046 205,000
S33Z,920 $288,380
COUNCILLOR
TOWNSHIP OF K.INLOSS
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 1987
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
Miscellaneous revenue
Budget Actual Actual
1987 1987 1986
$463,806 $465,036
19,256 19,436
9,950 9,949
'8,436 6,434
4,000 2,787
3,500 2,441
1.274 1,169
$445,,676
19,071
13,156
548
2,316
2,804
1,120
510,222 507,252 484;691
434,297 429,201 437,191
6,000 4,244 5.647
440,297 433,445 442,838
1,624
14,000
200
3,800
3,800
23
4,597
17,851
1,825
6,449
3.840
2,642
16,467
3,528
23,824
2,248
34,562 48,709
Total funds r.:ised for the year 973,943 975,259 976,239
Deduct: amounts received or receivable
for county and school boards (note 2) (344,214) (345,198) (329,656)
Net appropriations from reserves and
reserve funds (note 8)
ML'NICIi'AL FUND BALANCES - BEGINNING OF YEAR
To be used to offset taxation or user
charges (note 7)
Capital operations not yet perianently
financed (note 7)
TOTAL FINANCING AVAILABLE FOR THE YEAR
.629 729 630.061 646.582
8,154
19,830 19,830 9,554
(71,644) (71,644) (4,099)
(51,814) (51,814) 5,455
S586,069 8578,247 S6524037
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 government
Roadways
Waterlines
Health services
Municipal drains
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
1987
$ 70,063
12,000
5,802
5,000
'234,000
1,274
15,000
5,000
150
18,000
2,000
12,000
380,289
213,180
2,600
5,975 429
Actual
Actual
1987 1986
$ 60,053
8,876
5,801
2,777
218,986
1,271
7,277
2,729
175
27,156
9,240
$ 62,883
11,974
5,962
3,003
200,941
1,173
12,055
3,196
150
15,998
6.726
344,141 324,161
5,938
144,757
b,429
25,718
;15,643
215,780 163.099
596 069 507,440
10,046
241,
665,851
38.000
69.407 19,330
(10,000) (8,A46) (71,A44)
(10,000) 60,761 (51,814)
$586,069 8578,247 5652,037