The Lucknow Sentinel, 1993-04-28, Page 14Page 14 - Luc•know Sentinel, Wednesday, April 28, 1993
Auditor's Report
To the Members of Council, Inhabitants,
and Ratepayers of the Corporation of
the Village of Lucknow.
We have audited the consolidated balance sheet of the Corporation of the Village
of Luc -know as at December 31, 1992 and the consolidated statement of operations for
the year then. ended: These financial statements are the responsibility of the village'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. An 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 financial statements present. fairly the financial
position of the Corporation of the Village of Lucknow 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.
Clinton, Ontario
March 18, 1993 Vodden, Bender & Seebach
CHARTERED ACCOUNTANTS
VILLAGE OF LUCKNOW
CONSOLIDATED BALANCE SHEET
DECEMBER 31, 1992
ASSETS
Unrestricted
Cash
Taxes receivable
Accounts Receivables
Restricted
Cash
LIABILITIES
Bank loan
Accounts Payable & accrued, liabilities
' Other current liabilities
FUND BALANCES AT THE END OF THE YEAR
•To be used td offset taxation
or user charges in 1993 (Note 5)
Unexpended capital financing
(Unfinanced capital outlay) (Note 5)
Reserves (Note 6)
Reserve Funds (Note 6)
1992
181,103
45,465
126.153
30.000
$382.721
61,629
48,529
1991
156,115
38,604
$2.473
$277.192
500,000
115,430
7
(3,321)
(31,866) (625,424)
274,429 290,500
30.00Q -'
$382.721 $277.192
The accompanying notes are an integral part of this financial statement
jai nFl p i •�•�f ? +G k •F.
VILLAGE OF LUCKNOW
CONSOLIDATED STATEMENT OF OPERATIONS
For The Year Ended December 31, 1992
APPLIED TO:
Current Operations
General government
Protection to persons and property
Transportation services
Environmental Services
Health Services
Recreation and cultural services
Planning and development
Capital '
Sewerage system
Watermains
Budget Actual Actual
1992 1992 1,991
87,000
70,000
108,000
189,500
20,000
143,000
26.500
644.000
75,000
73,742
64,085 • .
110,072
176,375
19,783
150,124
26.994
621.175
89,744
Street reconstruction
Public works building
Transportation equipment purchase
Arena
Net appropriations to reserves
11.111
40,000
80,790 .
65,644
97,210
127,283
10,805
136,635
8.310
526.677.
2,713,884
142,838
SOURCES OF FINANCING:
, Taxation and user charges
Residential taxation
'Commercial, industrial and business
taxation
Taxation frem other governments
User charges
Grants
Province of Ontario
Other municipalities
Budget
199Z
Actual Actual
1992 .1991
497,939 512,566 ' 450,247
234,940 237,920 221,437
13,100 13,303 13,061
208,444 , . 216,259 197,758
791,000 795,422 1,872,705
6,000 5,992• 5,908
37,299
215.000 209.311
4,788
.36,488
2.899.992
14,304 13,929 84,800.
MUNICIPAL FUND BALANCES - END OF YEAR (Note 5)
• To be used to offset taxation or user
charges - 48,529 •, (3,321)
Unfinanced capital outlay' 150.0001 , 131.8661 1625.4241
TO'TAI. APPLICATIONS FOR THE YEAR
$823,304 8861.078 $72.882:724
The accompanying notes are ,ui integral part sof this financial statement
Other
Penalty and interest on taxes 4,000 6,160
Investment income 48,000 39,834
Donations - -
Sale of land
Sewer frontage and connection charges 55,000 79,905
Deduct: Amounts received or rece'i\rable
for county and school 'boards (note 2) 1406.374)
1,452,049
'MUNICIPAL FUND BALANCES - BEGINNING OF YEAR
To be used to offset taxation or
user charges
Unfinanced capital outlay
Total financing available during the year
1417.538)
1,489,823
(3,321) (3,321)
(625A24.1 625.424,1
$823.3 )5 $861.078
A Complete Auditor's report is available at the Lucknow Town Hall
• 4,006
41,621
36,448
69,035
755,787
(410.5901
3.257.423
45,311
1.420y1Q
$2.882.724