HomeMy WebLinkAboutThe Lucknow Sentinel, 1993-04-14, Page 9Lucknow Sentinel, Wednesday, April 14, 1993 - Page 9
Auditor's Report
To the Members of Council; Inhabitants,
and Ratepayers of the Corporation of
the Township of Kinloss. . -
We have audited the consolidated balance sheet of the Corporation of the
Township of Kinloss as at December 31, 1992 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 misstatement. Ari audit
includes examining, on 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 finaricial statements present fairly the financial
position of the Corporation of the Township of Kinloss as at December 31, 1992 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
January 21, 1993
Licence No. 1203
/42'- u
CHARTERED ACCOUNTANTS
TOWNSHIP OF KINLOSS
CONSOLIDATED BALANCE SHEET
DECEMBER 31, 1992
UNRESTRICTED
Cash
Taxes receivable
Receivables
Tax registration 'accounts
Payable and accruals
Other current liabilities
ASSETS.
1992
$106,376
121,539
68,744
2,211
1991
$68,282
125,231
34,849
2,2.11
• '$298,870 $230 573
LIABILITIES
$30,014 • $31,391
11,440 17,624
41,454
FUND BALANCES
To be used to offset taxation
or user charges in 1993 (Note 6)
Unexpended capital financing (Note 6)
Reserves (Note 7)
96,825
591
160,000
$298,870
49,015
60,967
591
120,000
$230,573
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TOWNSHIP OF KINLOSS
CONSOLIDATED STATEMENT OF OPERATIONS
For The Year Ended December 31, 1992
APPLIED TO: -
Currerit Operations
General'government
Fire (Note 3) ... .
Conservation authority
Protective inspection and control
Roadways
Street lighting
Garbage disposal
Public health services (Note 3) .
•Parks and recreation (Note 3)
Municipal drains
Capital
General government
Roadways
Garbage clis,posal
Total funds expended for the year
Net appropriations to reserves and
reserve funds (Note 7)
Yk•
MUNICIPAL FUND BALANCES - END OF YEAR
To be used to offset taxation or user
charges (Note 6)
Unexpended capital financin.g
(Note 6)
TOTAL APPLICATIONS FOR THE YEAR
Budget Actual Actual
,22a .1992 12.91
$100,000 $97,1.98 $92,693
15,000 ° 12,922 11,659
6,041 6,047 5,970
6,000 4,698 3,127
310,000 ' 304,880 . 291,072
2,000 . 2,085 1,788
20,000 22,138 15,535
3,500 . 2,589 • 1,230
29,424 28,087 0 25,499
12,000 11,763 14,500
t'• .
07 . 463,073`
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•ot Ontario
Other municipalities
7,200 855
174,470 ' 161,694
39,000 1,332
4,716
182,493
12,827.
. •220,670 . 163,881 200,036
724,635 656,288 . 663,109
30,000 ' 40,000
•
Other
Penalty and interest on taxes
Investment income
Miscellaneous revenue
Total funds raised for the year
Deduct: amounts received or receivable
8,500 ' for county and school.boards (Note 2).
a
96,825 60,967
591 • 591
•
97,416 61,558
$754,635 $793,704 $733,167
Budget
1992
Actual
'1992
Actual
1991.
$685,599 $689,754 $690,662
27,880 29,473'. 29,006
12,575 t2,575 12,450
4,000 11,133 5,849
6,000 . 6,114 8,657
6,000 . . • 14,251 14,772
1,792 ' .1,907 1,510
743,846 765,267 762,906
466,800 . 485,013 ' 50 7, 333
5,000 • 366 5,379
471;800" -485179 512,712
17,000
2,500
1,000
20,500
18,032
3,796
. 7,040
28,868
•
19,911
2,609
1,304
23,824
1,236,146 1,279,514 • 1,299,442
(543,069) (547,368)
. 693,077 .732,146
MUNICIPAL FUND BALANCES - BEGINNING OF YEAR
To be used to offset taxation or
user charges (Note 6) •
Unexpended capital financing (Capital
operations not yet permantly financed)
(Note 6)
TOTAL FINANCING AVAILABLE FOR THE YEAR
60,967 60,967
591 591
61,558. ' 61,588
$754,635 $793,704
A 'Complete Auditor's report is available at the Township Office
(550,389),
749,053
26,980
(42,866)
(15,886)
$733,167
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