The Citizen, 1991-06-19, Page 6PAGE 6. THE CITIZEN, WEDNESDAY, JUNE 19,1991,
VILLAGE OF BLYTH y
CONSOLIDATED FINANCIAL STATEMENT
AS AT DECEMBER 31, 1990
AUDITOR'S REPORT
To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Village of Blyth
We have audited the consolidated balance sheet of the Corporation of the Village of Blyth as at December 31, 1990 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, in all material respects, the financial position of the Corporation of the Village of Blyth as at
December 31,1990 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
February 21,1991
Licence No.: 1110
Vodden, Bender & Seebach
Chartered Accounts
ASSETS
Unrestricted
Cash
Taxes receivable
User charges receivable
Accounts receivable
Restricted
Cash
1990
as at
1989
307,184 300,436
42,293 39,286
24,857 25,013
79.857 60.650
454,191 425,385
5.245 2.500
Village of Blyth
Consolidated Balance Sheet
December 31,1990
LIABILITIES
Accounts payable and accrued liabilities
Deferred liabilities
1222 1989
78,642
L23S
FUND BALANCES AT THE END OF THE YEAR
To be used to offset taxation or user charges (note 5) 201,149
Reserves (note 6)
Reserve funds (note 6)
The accompanying notes are an Integral part of this financial statement
Village of Blyth
BALANCE SHEET
December 31,1990
CCFTS
1990 1989
Cash
General 221,420 216,667
Term deposits
Sewerage 30,000 30,000
Sewerage extension 2,745 2,500
Blyth Ladles Fastball 2,500 -
Accounts receivable
Government of Canada 1,776 -
Province of Ontario 57,036 52,941
Other municipalities 9,465 3,591
Hydro and waterworks 11,520 5,190
Blyth and District Community Centre 1,812 1,924
Other - general 4,052
sewerage user charges 9,119 8,952
Taxes receivable 42.293 39.286
$ 393.738 $361.051
Liabilities. Reserves and Accumulated Net Revenue
Current liabilities
Accounts payable
Deferred liabilities
Reserves and reserve funds
Reserve for working funds
Reserve for fire truck purchase
Reserve for street construction
Reserve for public works equipment
Reserve for disposal site improvements
Capital works reserve
Reserve for memorial hall Improvements
Reserve for recreational and cultural facilities
Reserve for cemetery maintenance
Reserve for hospital grants
Reserve for main street drain
Reserve for arena ball diamond
Sewerage extension reserve fund
Accumulated net revenue
General
Sewerage
167,162
5.24!
$459.43!
1990
SJQ.718
BLYTH SEWERAGE
Statement of Revenue and Expenditure
for the year ended December 31,1990
1989
$ 57.024Accumulated net revenue beginning of year
Revenue
Sewerage surcharges * residential 89,980 90,915
commercial 18,047 16,485
Penalties 730 771
Annual frontage charges 6,019 6,019
Annual connection charges 3,495 3,495
Interest 2.972 2.616
121.243 12Q.3Q1
Expenditure
Operating charges - Ministry of Environment
Frontage and connection charges transferred
to the Ministry of the Environment
Sewerage expansion study
Administration and collection
Accumulated net revenue end of year
BLYTH RECREATION COMMITTEE
Summary of Operations
for the year ended December 31,1990
1990 1989
Accumulated net revenue beginning of year $0 $0
Revenue
Village of Blyth 11,261 8,701
Fees and admissions
Park rentals 3,004 2,527
Swimming 2,538 2,730
Summer recreation program and fundraising 2.353 1.323
Total revenue $ 19.156 $ 15.281
Expenditure
Parks
Wages
Utilities and maintenance
Other village parks
Summer recreation program
Wages
Program expenses
Program expenses
Hockey
Figure skating
Baseball
Swimming
Administration
Total parks and recreation expenditure
Accumulated net revenue end of year
56,922
8.726
65.648
225,415
134,322
1990 1989
68,786 42,309
7.238 8.726
76.024 51.035
67,000 65,000
10,836 8,836
5,000 5,000
17,000 4,500
10,000 5,000
22,000 22,000
-7,000
9,000 6,500
6,000 6,000
-2,000
15,000 -
2,500 -
5.245
169.581 134.336
45,837 94,962
102.296 80.718
148.133 175.68Q
$ 393.738 $361,051
1990 1989
84,595 82,344
9,513 9,513
-627
5.557 4J23
99.665 96.607
$102,296 $80,718
1990
2,186
1,861
624
4.671
1,000
1,100
900
2,538
1.232
S 19.155
$Q
1989
1,675
2,784
4.459
4,172
S12
4.684
1,000
1,100
900
2.730
408
$ 15.281
$Q