HomeMy WebLinkAboutThe Lucknow Sentinel, 1989-05-31, Page 8Page 8---LateknewSenttnel, Wednesday, May al, leg
wiishiip
of I(inIc.ss
Auditor's Report r and Financial Statement
FOR THE YEAR ENDED DECEMBER 31, 1988
it11
r
1iOrt
TOWNSHIP Of KINLOSS
CONSOLIDATED BALANCE SHEET
AS AT DECEMBER 31, 1988
ASSETS
To the Members of Council; Inhabitants
'and Ratepayers of the Corporation of
the Township of Kinloss
UNRESTRICTED
Cash
Taxes receivable
Accounts receivable
Other current assets
Tax registration accounts
We have examined the balance -sheet of the Trust Fund of the Corporation of
the Township of Kinloss as at December 31, 19.88 and the statement of continuity
of the -Trust Fund 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 financial statements present fairly the financial
Position of the Trust Fund for the Corporation of the Township of Kinloss as at
December 31,. 1988 and the continei y of the, 'rust Fund 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.
LIABILITIES
tank indebtedness '.
Accounts payable and accrued liabilities
Other current liabilities
1988 1987
$111,883 $159,743
119,456 111,669
42,731 47,596
12 665
7,304 13,247
$281,386 $332,920
aC��b � baaCa.ac
S 20,000 $ -
33,082 30,491
28,194 26,622
81,276 57,113
_._FUND BALANCES
To be used to offset taxation or user charges
in 1968 (Note 7)
Capital 'operations not yet permanently
financed ('Note 17)
Reserves (Note 8)
Listowel, Ontario
February 17, 1989
.Licence No. 1203..
(2,555) 69,407
(2,.574) (8,646)
205,239 215,046
$261,386 $332,920
CHARTERED ACCOUNTANTS
The accompanying notes are an integral party of these financial statements
WI.'SHIP O;F KIINILOSS
SOLIDATED STATEMENT OF 0 • RATIONS
FOR THE YEAR ENDED DECEMBER 31., `119'88
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
Budget
1988
Actual Actual
1988 1987
Budget
1.9.88
Actual Actual
1988
1987
$ 509,667
21;265
10,052
13,362
3,000
3,500
1,228
562, 074
483,628
6,Q1)0
$ 513,009 $ 46-5,036
21.258
10.052
1,JJ7
3,108
4,681
19,436
9,949
6,434
2,787
2,441
1,226 1,169
554,,895 507,252
481,270 429,201
5,797 4,244
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
70,094
12,000
5,669
.4,.000
235,100
1,228
12,000
5,000
175
27,500
2,000
14,000
$ 64,250 $ 60,053
12,075 8,876
5,669 ' 5,801
5,418 2,777
225,495 218,986
1,337 1,271
11,550 7,277
261 2,729
175 175
23,293 27,156
9,384 9,240
489,628
Other
Municipal capital drainage collections
Penalty and interest on taxes
Investment- income
Waterline collections
Sale of land
Miscellaneous revenue
487,067 433,,445•
388,76.6 358,907 344,341
7,218
14,000
1,000
6,429
2,218
15,557
4,673
6,429
1,334
4,597
17,651
1,825
6,449
34840
Capital
General government
Roadways
Waterlines
Parks -and recreation (Note 3)
'Municipal drains
50,000
276,517
35,00
5,0.00
38,212
319,542
35,000
2,574
5,938
144,757
6,429
5975
28,647
30,411 34,56.2
366,517 395,328 163,099
Total funds raised for the year
Deduct: amounts received or receivable
for county and school boards (Note
1,080,349
2) (391,409)
.688., 940
1,0.72,373 975,259
(393,835) c34511.98)
678,538 630,061
Total funds expended for the year
755.,28.3 , 754,235 ' 507,440
Net appropriations to reserves and
reserve funds (Note •8)
9,418
9,418 10,04+6
Net appropriations from reserves and
reserve funds (Note 8)
15,000
,.,,19„ 225 -
MUNICIPAL FUND BALANCES - BEGINNING OF YEAR
To he used to offset taxation or user
c.iarges (Note 7)
Capital operations nut vet permanently
financed (!Vote 7)
TOTAL FINANCING AVAILABLE FOR THE YEAR
69,407
(8,,646)
69,761
$ 764,701
69,407 19,830
(8,666) (71.,644)
60,,, 761 ' (51,814)
$ 758,524'S 578,247
LPrg,== q.0PM , CCt:IggPt7PR.
'The accompanying notes aro an integral part -of these finaneinl Staten uuVts
MUNICIPAL FUND BALANCES - END OF YEAR
To be used to offset taxation or
Buser charges (Note 7) O
Capital operations not yet permanently
financed (Note 7)
TOTAL APPLICATIONS FOR TUE YEAR
(2,555) 69,407
(2074) (8,4646)
(5 4129) 60,761
$ 764,701 $ 758,524 $ 578,247
CI.MA.N PC aP CRCCPP tc=P
ii