HomeMy WebLinkAboutThe Goderich Signal-Star, 1986-05-28, Page 10-r.
CONS : i' ATED
STATEMENT OF OPERATIONS
FOR THE YEAR ENDING DECEER 3141985
SOURCES OF FINANCING:
Taxation and user charges
Residential and farm taxation
Commercial, industrial and
business taxation
Taxation from other governments
Sever surcharges
Licence's and permits
Fees and service charges
Grants
Governoent of Canada
Province .of Ontario
Other municipalities
Berge t
1985
Actual
1985
Actual
1984
$2,256,902 $2,247,868 $2,183,479
1,961,871 2,028,943 1,913,404
113,195 114,961 110,012
225,000 228,919 216,553
27,442 37,276 23,241
445,952 545,673 520,594
5,030,362 ,203,640 4,967,283
7,390
1,399,457
258,309
2,046,184 2,166,361 1,665,156
8,110
1,780,847
257,227
54,005
1,854,547
257,809
Other
Penalties and interest on taxes
Investcent income
Donations
Lot levies and subdivider contributions
Contribution from trust funds
Other
1
1
45,200 33,705 42,813
100,000 190,247 193,863
- 37,097 33,335
78,181 2,250
16,- 472 18,268 15,806
2,422 52,155 48;8192
164,094 409,653 336,959
Total funds raised for the year 7,240,640 7,779,654 6,969,398
Deduct: amounts received or receivable 449 910
for county and school boards (note 2) 2,534,475 2,571,147 2,449,910
4,706,165 5,208,507 4,519,488
MI,NICIPAL FCN1 BALANCES - Beginning of year
To be used to offset taxation or user 193,809
charges (note 8)
Capital op?rations not yet permanently
financed (note 8)
214,869 235,651
(3,330) (43,596)
193,809 211,539 192,055
TOTAL FIVANCle:G AVAILABLE FOR THE YEAR $4,899,974 $5,420,046 $4,711,543
APPLIED 70:
Current Operations
General government
Proleet_on :o persons and
property !note 3)
Transportation services
Environeental services (note 3)
Health services (note 3)
Social and family services
Recreation and cultural services
Planning and development
Ontario Home Renewal Program
Capital
Roadways
Parks and recreat'.on
Storm sewer system
Ai rport
Library
Industrial land
General government
Other
Pollutioi control plant expansion
Total funds expended for the year
Net appropriations to reserves and
reserve funds (note 9)
Budget
1985
Actual
1985
Actual
1984
S 534,729 S 406,119 $ 370,452
835,860 857,955 806,522
841,546 990,615 856,310
457,783 469,145 453,232
60,190 59,473 75,137
41,242 46,089 47,528
682,481 746,243 682,287
76,200 96,458 34,348
- - 25,291
3,530,031 3,672,097 3,351,167
698,247
142,644
264,553
87,603
82,500
27,194
1,302,741
"765,564 388,138
262,669 213,493
272,824 128,915
92,338 6,366
- 23,564
- 12,511
82,563 -
65,152 40,535
-6.548 4,000
1,547,658 817522
4,832,772 5,219,755 4,168,629
MUNICIPAL FUND EALAI.CES - End of year
To be used to offset taxation or
user ctarges (note 8)
Capital cperations not yet permanently
financed (rote 8)
7W7A1 APPLICATIONS FOR THE YEAR
67,202 156,265 33!,375
44,02(, 214,869
(3,330)
44.026 211,539
$4,899,974 $5,420,046 $4,711,543
CORPORATION '.SF THE
TO OF
GO1E1IICH
1"85 FINANCIAL
HIGHLIGHTS
(For the year ending December 31st, 1985)
AUDITORsSR, RT:
To the 1!embers of Council, Inhabitants,
and Ratepayers of the Corporation of
the Town of Goderich
We heve examined the consolidated balance sheet or'the Corporation of the
Town of Goderich as at December 31, 1985, and the consolidated statement of
operations for the year then ended. Our examination was made in ecccrdaece vitt)
generally a:cepted auditing standards, and accordingly included such tests an;1
other procedures as we considered necessary in the circumstances.
In our opinion, !these consolidated financial statements present fairly the
financial position of the Corporation off_..the Town of Godericr as at December 31,
1985, and the results of its op rations for the year then ended in accordance
with the accounting principles prescribed for Ontario Municipalities applied on
a basis consistent with that of the preceding year.
Goderich, Ontario
February 17, 1986
Licence No. 1203
G `/ 1 ir.., dk��
/CHARTERED ACOUNTA2
i
TRUST FUNDS: FOR THE YEAR ENDED DECEMBER 31,1985
Total
Cemetery
Perpetuity
Fund
Robert MacKay Charles Blake
Cemetery Fund Park Fund
Goderich Maitland
Public Cemetery
Library Perpetual Care
Balance - beginning of year
Balance - end of year
$144,521.00 $45,971.00
$148,388.00 $46,006.00
$9;09.00
$9,234.00
$1,663.00 $6,553.00
$1,841.00
$7,085.00
$81,125.00
-$84,222.00
CONSOLIDATED
BALANCE SHEET
AS AT DECEMBER 31st, 1985
ASSETS
UNRESTRICTED
Cash
Investments (note 5)
Taxes receivable
User charges receivable
Accounts receivable
Other current assets
RESTRICTED
Cash
Investments (note 5)
Accounts receivable
Long term receivables - 0.H.R.P. loans
CAPITAL OUTLAY FINANCED BY LONG TERM LIABILITIES
AND TO BE RECOVERED 1N FUTURE YEA.1S
LIABILITIES
Temporary, loans
Accounts payable and accrued liabilities
Other current liabilities
Net long term liabilities (note 7)
1985 1984
$ 883,549 $ 835,111
2,000 2,000
188,097 1.88,891
1,075
391,070 337,769
3,000 3,200
1,467,716 1,368,046
FUND B A L A N C.E S
Surplus - to be used to offset taxation or
user charges in 1986 (note 8)
Capital operations not yet permanently financed
(note 8)
,Reserves (note 9)
Reserve funds (note 9)
APPROVED BY COUNCIL
189,290 199,832
548;450 469,800
10,702 264
- 117,326
' 748.442 787,222
264.;41 36f,505
$2,480,499 52,523,773
$ 10,702
333,460
56.305
182,657
`22,893
400,467 205,550
264,341 368,505
664,808 574,055
44,026 214,869
T;o23,72T
748.442
(3,330)
952,467
785.712
$2,480,499 $2,523,773
1
RATES OF TAXATION:
1985
1984
Elementary School Rate
Secondary School Rate
General Rate
County Rate
Consolidated Public School Rate
Residential(
& Farm (Mills)
• 83.74
68.09
126.79
34.27
312.89
Separate School Board 86.42
Secondary School Board 68.09
General Rate 126.79
County Rate 34.27
Consolidated Separate School Rate 315.57 371.25
Commercial
(Mills)
98.52
80.10
149.16
40.32
368.10
101 .67
80.10
149.16
40.32
Elementary School Rate
Secondary School Rate
General Rate
County Rate
81.01
66.14
123.48
32.37
Consolidated Public School Rate 303.00
Separate School Rate
Secondary School Rate
General Rate
County Rate
Consolidated Separate School Rate
81.15
66.14
123.48
32.37
95".30
77.81
145.27
38.08
356.46
95.47
77.81
1455.27
38.08
303.14 356.63
V11,11.711170 A
R, ALA14.110 ICAO 2.0
RESERVE FUNDS:
The total balance of reserves and reserve funds of $1,023,223 (1904 - $952,467)
..and $748,442 (1984 - $785,712) respectively are made up of the following:
ytteserves set aside for specific purposes
For working capital
For sick leave
For pension contingency,
For contingencies
For roads capital expenditure
For fire capital expenditure
For waterfront capital expenditures
For air.Or.t capital expenditures
For bust ess improvement area
For cemetery capital expenditures
For subdivision improvements
1985 1984
by Council:
$ 450,000
169.- 317
256,055
12,000
43,164
18,808
11,000
Total Reserves
RESERVES AND RESERVE FUNDS
Reserve funds set aside for specific purposes by
Council:
For pollution control plant
For sick"leave
F:r pension contingency
For cap'-tal expenditure - roads
For business improvement area
For subdivision improvements
For recreational land
For_capital expenditure - recreation
Reserve funds set aside for specific purpose by
legislntl.�n, regulation or agreement:
For loans under'the Ontario Home Renewal
Program
Increase for the year
21,378
41.501
$450,000
243,891
145,000
27,000
23,164
18,808
15,000
12,000
17,604
$1,023,223 $952,467
S 383,324 $434,987
219,559 -
166,818
46,771 44,869
43,780 • -
32',826 7,248
18,830 6,782
3.352 2.229
748.442 662.933
122,779
Total Reserve Funds $ 748,442 $785,712
S 33,486 $331,375
NOTES:
1. OPERATIONS Oh' SCHOOL BOARDS AND THE COUNTY OF HURON
The taxation, other revenues, expenditures and overlevies Lunderlevles) of the school boards
and the County of Huron are comprised of the following:
School Boards County
$2,097,846 $473,301
$2,097,941 $473,734
(95) (4331
1,650 911
$ 1,555 "$ 478
Taxation
Requisitions
(Underlevies) Overlevies for the year
Overlevies - beginning of year
Overlevies - end of year
These revenues and expenditures are not reflected in the "Consolidated Statement of Opera-
tions". The overlevies at the end of the year are reported as other liabilities on the
Consolidated Balance Sheet".
2. The 1985 financial report consolidates the operation$ assets and liabilities of the Town
and its local boards and"municipal enterprises as follows:
Maitland Cemetery Board
Goderich Recreation and Community Centre Board
Gdderich Economic Development Committee
Goderich Tourist Promotion Committee
Goderich Architectural Conservation Advisory Committee
Goderich Parks Advisory Committee
Goderich Airport Committee
Goderich Municipal Day Nursery Committee
Goderich Planning Advisory Committee
Goderich Committee of Adjustment
Goderich Property Standards Committee
Goderich Business Improvement Area
3. The local boards, enterprises and other entities of the Town whose revenues and expend!
tures have not been consolidated in the 1985 financial report are:
Goderich Waterworks
Goderich Municipal Electric Utility
Gode'nich Land Fill Site Committee
4. LIABILITY FOR VESTED SICK LEAVE BENEFITS AND PENSION BENEFITS
Under the sick Leave benefit plan, unused sick leave can accumulate and employees may
become entitled to a cash payment when they leave the municipality's employment.
The liability for these accumulated days, to the extent that they have vested and could
be taken in cash by an employee on ternfinating, amounted to $84,327 (1984 - 5105,399)
at the end of the year.
At December 31, 1985, _an amount of $219,559 (1984 - $243,8911 has been provided for the
sick leae 181
r
he
ension
liability an5169317 (14 -
Sheet"6as8reservvestandpreservecontingency and are
funds.
5. The above data has been extracted from t▪ he audited 1985 Consolidated Financial Report
of the Town and its local boards as described. Copies of the 1985 Consolidated Financial
Deport and the 'auditors report thereon, or
che onsoldited e local
idated are navailable cial Qatnthe ts fTown or hOffices
boards, enterprises and other entities n
to any resident who wishes to review or analyse the financial operations of the Town in
greater detail.