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Home My WebLink AboutClinton News-Record, 1983-12-14, Page 32PAGE 8A-CLINTON NEWS -RECORD, WEDNESDAY, DECEMBER 14, 1983 To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Village of Bayfield: We have examined the consolidated balance sneer of the Corporation of the Village of Hayfield as at December 31. 1982 and the consolidated state- ments of revenue and expenditure, capital operations, and reserve and reserve funds continuity and analysis of year end position for the year then ended. We have also examined the financial statements of the Village of Bayfield the Consolidated Local Boards, the Consolidated Joint Luca] Board, and the Unconsolidated Municipal Enterprise. Our examination was made in accordance with generally accepted auditing standards, end accordingly included such tests and other procedures as we considered necessary in the circumstances. Due to the nature of the uperatiuns it is not practicable to verify whether all revenues of the community centre and recreation committee have been received. We did, however, verify that recorded receipts were deposited. Except for the foregoing, in our opinion, these financial statements present fairly the financial position of the Corporation of the Village of Bayfield as at December 31, 1982 and the results of its operations for the year then ended in accordance with generally accepted accounting principles for Ontario municipalities applied on a basis consistent with that of the preceding year. 6/la rat O % KGvt. "- .t,fe-ra..Zeg- UURS3, VODDEN 6 BENDER Chartered Accountants Municipal Auditor's Licence Number 600. Goderich, Ontario. May 12, 1983 STATEMENT OF REVENUE AND EXPENDITURE for the year ended December 31, 1982 Accumulated net revenue (deficit) at the beginning of the year Expenditures and transfers Municipal expenditures General government Protection 10 persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning and development Other Total expenditure, 1982 Budget s (4,882) 54,839 31,156 93,671 19.950 756 99,670 9.100 111,138 Transfers Transfers to region or county 42,898 Transfers to school boards 166,561 Total transfers • 209,459 Total expenditures and transfers Revenue by purpose Municipal purposes Taxation Payments in lieu of taxes Ontario grants Other grants Fees and service charges Other Revenue to pay for municipal purposes Region or county requisition Taxation Payments in lieu of taxes Ontario grants Other Revenue to pay the region or county requisition School board requisition Taxation Payments in hen of taxes Other Revenue to pay the school board requisition Total revenue Accumulated net revenue (deficit) at the end of the year Analysed as follows General revenue Region or county School boards Special charges Special areas Local boards Municipal enterprises Th. auompanymr wenn an an wars, pan o7 tbn f.nr,ai ua nent 520,597 132,400 2.000 76,000 9,850 24,563 • __fah 575 311,338 42,898 42.898 166,561 166.561 520,797 (4.682) (6,452) 195 1,393 182 (+.,682) 1982 Actual s (4,882) 53,159 34,729 87.121 21,891 750 100.513 1.934 300,097 43,169 167,623 210,792 510,889 103.998 1,125 84.485 32.019 12.448 59_486 295,561 42,982 407 43,389 169,281 1.583 170,864 509,814 (5,957) (11,509) 415 4.634 503 (5.957) 1981 Actual (1,963) 44,951 31,459 41,075 19,990 106 15 88,954 403 226,953 40,763 149,124 189,887 416,840 94.587 2.970 56.114 28,726 11,589 44 549 238.535 26,251 250 26.501 147,474 1,411 148.885 413,921 (4.882) (6.452) 195 1.393 (18) (..882) STATEMENT OF CAPITAL OPERATIONS for the year ended December 31, 1982 Unfinanced capital outlay (Unexpended capital financing) at the beginning of the year Capital expenditure General government Protection to persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning and development Other Total expenditure Capital financing Contributions from the revenue fund Contributions frarn reserves and reserve funds tong term liabilities incurred Ontario grants Other Total capital financing Unfinanced capital outlay (Unexpended Lcapital financing) ar the end of the year rte dpwy,.r .enc an a. mr.r ai pan .f rim Immo ar „are..ref 1982 Actual (605) 935 2.785 L .504 )20 1981 Actual 82.65.. 1.865 8.652 17.221 2.7 , 7 38 .9,490 176 45.550 _. 110 997 (605) VILLAGE OF BAYFIELD GENERAL FUND BALANCE SHEET BAYFIELD COMMUNITY CENTRE ro OPERATING FUND STATEMENT OF REVENUE AND EXPENDITURES for the year ended December 31, 1982 as of ecember 31, 3982 ASSETS Current assets Cash on hand and in bank Taxes receivable Accounts receivable - Province of Ontario - Other LIABILITIES 1982 8.795 43,837 12,808 1,716 1981 5,455 31,451 12,602 1_:140 $ 67,156 $ 50,748 Current liabilities Accounts payable - Province of Ontario 15,000 - Other 17,008 Due to planning reserve fund 1,608 Due to ratepayers - county overlevy 415 Due to ratepayers - Schools overlevy 4.634 Village loan 25,000 63,665 Accumulated net Tevenue (deficit) Reserve for working capital Accumulated net revenue (deficit) operating 15,000 (11,509) 3,491 $ 67,156 15,707 34,905 195 1,393 52,200 5,000 (6,452) (1,452) $ 50,748 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES (a) Statement of Revenue and Expenditure This statement reflects the revenues and expenditures of the revenue fund and the following local boards and committees: Bayfield Community Centre Committee of Management Bayfield Fir. Area (joint local board) Bayfield Recreation Committee The revenue and expenditure of the Village of Bayfield Marina a municipal enterprise is nut consolidated. (b) (c) Statement of Capital Operations This statement reflects the capital expenditure of the municipality to be recovered from the general municipal revenue of the municipality and its local boards as described in note 1 (a). Balance Sheet This statement reflects the assets and liabilities of the revenue fund, the capital fund. reserve fur.s and local boards as described in note 1 (a). The assets and liabilities of the Village of Hayfield Marina. a municipal enterprise, are not consolidated. (d) Fixed Assets The historical cost and accumulated depreciation of fixed assets is not reported for municipal purposes. Instead the "Capital outlay to be recovered in future years" which equals the principal outstanding on the long term capital bank.loan is reported on the Balance Sheet. (e) Municipal enterprises Municipal enterprises are those activities whose costs are substantially recovered from service charges on the users. The enterprises of this municipality whose revenues and expenditures have not been consolidated in these financial statements are: Village of Bayfield Marina. 2. CAPITAL OUTLAY Capital outlays, including fixed assets and the transfers of capital funds in the amount of $13,446 which have been financed from general municipal revenues of t!.e current year, are reported on the Statement of Revenue and Expenditure. 3. RESERVE FUNDS During the year, the following amount was credited directly to reserve funds without being recorded as revenues and expenditures of the Revenue Fund: Interest earned $ 1,878. 4. ACCUMULATED NET REVENUE (DEFICIT) AT THE END OF THE YEAR The balance in the revenue fund at the year end is available to reduce (to be added to) the levies of the following classes of ratepayers. General ratepayers County ratepayers School board ratepayers Community Centre operating fund Bayfield Recreation Committee Bayfield Fire Area ratepayers 1982 (1,1,509) 415 4,634 (5,007) 3.735 1,775 $ (5,957) 1981 (6,452) 195 1,393 (.1,044) 479 547 $ (4,882) BAYFIELD FIRE AREA: STATEMENT OF REVENUE AND EXPENDITURE for the year ended December 31, 1982 Accumulated net revenue - beginning of year Revenue Contributions per agreement - Village of Bayfield - Township of Goderich - Township of Stanley Fire calls - Village of Bayfied - Township of Goderich - Township of Stanley - Out of area - Bayfield - Ministry of Transportation 1982 1982 1981 Budget Actual Actual 547 547 2,058 9,761 9,953 7,494 9,510 9,697 7,301 9,747 9,736 7,330 29,018 29,386 22.12'5 800 740 825 1,360 410 1,260 25 and Communication 600 400 2,635 3,,_785 Sale of water and other 95 655 29,018 32,116 26,565 Total revenue Expenditure Administration - Insurance and compensation - Telephone - Office supplies - Audit - Secretary -Treasurer - Board members - Mutual Aid fee and meeting Firemen remuneration Firemen training Fire fighting equipment repairs and maintenance Fire hall services Truck repairs and maintenance Capital expenditures out of current revenue Transfer to reserve fund for fire hall Total expenditure Accumulated net revenue - end of year 1,708 2,427 1,392 800 786 791 100 48 378 300 290 265 120 100 100 180 120 90 125 135 25 3,3333 3,906 3,041 6,185 8,442 10.353 1.000 187 900 4,000 1,457 1,535 1,800 1,872 1.677 2.500 2,239 1,918 2,785 8,652 10,000 10,000 - 25,185 76,982 25.035 28,818 30,888 78,076 $ 747 $ 1,775 $ 547 BAYFIELD FIRE AREA BOARD RESERVE FUND FOR FIRE HALL December 31, 1982 Revenue Contribution from Bayfield Fire Area Board Interest earned on bank term deposits Balance year end Represented by: Cash in hank Bank term deposits 198_2- 10,000 672 10,672 1981 $ 10.672 S Nil 672 10,000 S 10,672 $ Nil AVt umulated deficit beginning of period Revenue Contribution from - Village of Bayfield general - Village of Bayfield Parks Reserve Fund Township of Stanley - Others Province of Ontario recreation grant Fees Public roller skating Public ice skating Hockey banquet and tournament Ball registration Figure skating Rentals Hall, bar, kitchen, arena floor Curling and broomball Ice rental Hockey league Advertising Sign rental Pop b vending machine income Sundry Total revenue Expenditure Administrative expense Telephone Advertising Staff training and travel Sundry Salaries and benefits - Arena manager - Other Building operations and maintenance Insurance Repairs and maintenance Hydro Heating fuel Other - supplies, cleaning, sundry Signs Equipment operations and maintenance 1982 1982 1981 Budget Actual Actual (1,044) (1,1144) (5.744) 6,035 ' 16,607 1,500 6,035 18,107 1,500 1.500 1,200 1,400 1,146 705 1,204 410 4,100 3,465 6,250 4,100 13,200 2,000 25,550 6,900 3,030 4,400 5,962 2,701 9,311 2,925 20,899 4,000 2,409 374 50,015 50,754 365 250 615• 18,700 9,000 27,700 2,900 6,315 3,735 1,650 1,000• 15,600 427 104 1,143 424 2,098 17,873 5,058 22,931 2,308 1,345 8,988 3,600 2,609 821 19,671 2,900 5,562 1982 Budget 1982 Actual Expenditure cont'd Contributed to capital fund 1,547 Programs and events Ice skating Roller skating Hockey 'Curling Or her Pop machine - purchases and rental Sundry Total expenditure Accumulated deficit end of period 3,200 •3,200 50,015 $ (1,044) 540 534 1,074 1,834 1,834 54.717 $ (5,007) 16,528 1,295 1,500 1,091 20,414 1,500 1,354 1,115 1,200 25 84 3,778 5,129 3,507 12,335 20.971 4,800 2,169 53,632 1,171 1,019 432 356 2,978 15,855 7,354 23,209 2,951 6,218 3,147 2,254 14,570 1,322 1981 Actual 3,291 51 1,101 20 1,172 1,901 489 2,390 48,932 $ (1.044) BAYFIELD ARENA CAPITAL FUND BALANCE SHEET AS OF DECEMBER 31, 1982 1982 ASSETS Current assets •- Due from Community Centre Operating fund 594 Long-term assets Recoverable from taxpayers for capital bank loan LIABILITIES Long-term liabilities Capital bank loan Unexpended financing BAYFIELD ARENA CAPITAL FUND STATEMENT OF CAPITAL FINANCING AND EXPENDITURE for the year ended December 31, 1982 Excess of expenditure ever !mane;'., at beginning of year Capital financing Donations from the public Contribution from Village r ! Rayfield general Contribution from Bavfjelr! f.,rmnunity Centre operating fund Long-term bank loan incurred Capital expenditure Bank interest Building improvements Safe Contribution to general fond Donations transferred to general fund Excess of financing over expenditure at year end 17,460 $ 18,054 17.460 594 1981 605 45,550 $ 46,155 45,550 605 $ 18,054 $ 46.155 1982 605 14,504 1.547 16,051 1,547 11 14,504 16,062 $ 594 1981 82,654 15,582 34.626 3,291 45,550 99.049 12,830 2,760 200 15,790 $ 605