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Home My WebLink AboutThe Brussels Post, 1940-3-27, Page 2Auditor's Repor#Twp iof Grey latnmary IA 1999, The, Reeve, Councillors and RatePaYea'a Township of Grey, Etlhel, Ontario, Ge4utleanelnt, We have audited the books anti aeecounts of the Township of Grey for the veal' ending 31st Deeenvber 1939. IStubjent to the Eollolwinig, we report that in our 03Yl$0on, the atutb,c1 ed Balance Street setts 0oalth ,truly and aneuratedy the position at the affairs Of the Township on: 'that date, that we have received all the explanations and information required anOl that all traunatuAlitnas have been Within the powers of the Corporation and are as shown, by the books, The folios/la's asPeaadedl 410214cial 9'tatetrtents, are presented: Exhibit 1 Balantce Sheet Exhibit 2 Statement of Income and Expenditure Exhibit 3 Statement of Receipts' and Disbursements Exhibits' 4 Salle/dale of Debentures Exhibit 3 Schedule of In'suaaunce in, force Exhibit 6 Disposition of Tax Roll Exhibit '7 Statement Of Reeedi-tts and Disbursements -Ethel Village We report upon the Recast in the Balance Sheet as follows: CAPITAL The Road Maintainer was set up ata value of $3,000.000 in, last years financial statement and. represented pant of the Capital Surplus of $6.650.09, We have been•infooneel ''bat the Maintainer cost $3,175,00 originally, that It ,has worked• three summers, and that the useful life of such an asset is approximately ten years. Since payment for the Maintainer was made out of Current Revenue the original cost should have been represented in 'Current Surplus rather than Can nttal 'Surplus and so $3,000.00 has been deducted from Capital .Surplus. We have adjusted the value of the asset to $2,222.50 which; Is the original cost of $3,175,00 less three years' depreciation at 10% Per annum watch amounts to $952.50, Current Surplus urs been increased. by $2,540.00 which is the original cost of $3,175.00 less two yeah detpreciation, of $636.00 and the depreciation of the current year of $317.39 bas been charged to the income and Ex- penditure Account. The amount of $2,222.50 which is shown in the Capital Section of the Balance Sheet as owing to Revenue and in the Revenue Section as owing by Capna1 1s the amount of the advance Pram Revenue for the purehase of the Capital Asset squish has still to be charged to Income and Expenditure In the form of deprecia- tion in future year's. Stone Crusher Graders have been written down, from $1,000.00 to a nominal value 00 3200.00, the difference of 3800.00 being deducted from Capital Surplus, We understand that these graders are used very 11044e at the present time. The other Capital Assets remain unchanged from the previous year. Municipal drains are shown at the amount of the debenture liabiilty as at 31st December 1939 less the assesutewts made in 1939 for thebeninare payments to be made during 1940. This net figure of 36.987,27 is the amount which will have to be assessed for is saabsequen't years. REVENUE Assets Balancers in Bank have been recoil -oils' to the balances as certified by your bankers as being oft' deposit as at 31st December 1939. The Ca,8th in the Hands of the' Tax Collector was not verified by actual totem, but the subsequent deposit of this cash was traced. The 1939 Tax arrears are as shown by the tax-oIl anti those of prior periods are ken from the Arrears. 00 Taxes Ledger by your Treasurer and are in agreement with the records of the County Treasurer. Tax arrears notices were sent to ail panties in arrears and no differences have been reported to us. It has been estimated that there will be receivable from the Provincial Government a Subsidy of 34.433.45 on account orf 1939 Road Expenditures. There is also receivable from the Township of McKillop an: amount of $98.55 for spraying material. The balance of $615.65 due the 'Township from Municipal Drains represents the amount of assessable expenditures for which assessment has not yet been' made or debentures not yet issued. During the year one debenture of $621.50 for the Greig Drain was Issued. Balances clue from Draints totalling $837.49 have been deemed by your Council to be u9'rollecitable because they have been, on the books for a period exceeding .that during which oollection may legally be made, This amount has been charged against Current S.P•rlus rather than against the o'peratione of the current year. There is a balance, clue from the Village of Ethel of 337.61 after giving credit for Receipts .anti charging expenditures' as detailed in Exhibit 7. 'Pbs details of the portion of insurance premivane. which is unexpired' as at 31st' December 1939 are set out in Exhibit 5. Liabilities The Bank Loan of 26,000.00 has been confirmed direct with your banker. Debenture principal and interest due and unpaid are repre- sented by four instalments of principal and interest wh4c•h become dine In 1139 but which had not been presented by ;he Solder therein' previous to the year-end. We have set up the debenture assessments made in 1939 for 1940 payments as a liability and these assesments will be taken into the revenue of the year 1940. The balance Of 32,413.8.4 dile Municipal Drains by the Township represents the amount of assess5nenhs or pro- ceeds of debentures sold which leas not been expended upon ,the respective drain and so is placed at -their credit, During the year.1939, balances at the credit of Municipal Drains totalling 3151,80 were utilized In, the payment of debentures issued an their account while the Roads share of the ,Surplus on the Beauchamp Drains has been cerdite/I ,to Ourrent Surplus, The details of debenture rtaaturi•ties, and, payments are sett ant In the Delbenture S'cbedule, Exhibit 4, The Sundry Accounts Payable of $135.00 ,is an estimate of the 19:39 audit fee. While) most of the actual work has been done during 1940 it applies to 1939 basdn•ess anal 'so we Octave charged It in Gas Salaries and A1lowan'ces steaming: on the Income and Expenditure statement, Your balance 1n, current surplus account 00 33,633.49 has been adjusted by addling the Roads' :share of Beauchamp Drain. Surplus of $59.1'5 and the adjustment re Roal Maintainer of $2,5440.09. De- duations of 6490.74 for overestimate onl 19138 Road .Subsidy and $837.49 for Drain balances, written off Save been made, arriving at a revised balance of 34,895,39 to which has beent added the excel% Of Ineoune over Expenditure for the year resulting in a Current Surplus ,of• $5279:49 as at 31st December 1939. COMMENTS ct will be seen that we have prepared an; Income .anki Ex- penditure 8taterme'nit, Exhibit 2 and a Receipts and Disbursements .Statement Exhibit 3. The income and Expenditure Statement shows' the Rea-ente east Expenditure 1011071 apply to year 1939 wether Or not it has actually been) reoelved or expended during the year, and the e'Xeess, of Income over Expenditure of $4,4,10 is the Mundaiipalityam Surplus for the year, The Receipts and Disburse. Menta C tetement 280le' out actual recalpt5 and expentdlfture of cash during the year no smatter .wehother they Pertain to the gears THE BRUSSELS PAST bisflieee o1• not, The 419poattlon• of the 1939 Tax levy is shown In Exhibit 6 and we would report that the reesrds of the Colteeter ,are quite satielb.otory. well as the other Insurance your Treasurer 469 The fldellty bonds on er and Tax Colleetor e po)kfes in, force, have been, exaufined by us. We would eXPrerea our am', reclat6on of tire cooperation which your •Clerk and Treasurer has g. .ta' us during the Course of our audit. 3;ouiw faithfully, • Monteith & Monteith, Chartet'eel Accountants (Ex, 1) TOWNSHIP of GREY BALANCE SHEET AS AT 31st DECEMBER 1939 CAPITAL Assets Township Hall $ . 800.00 Machinery Building 350.09 Townnitdp 'Office. 500.00 Road Maintainer 2,222,50 Stoner Crusher Graders 200.00 1,000.09 $ 5,072,50 Parks Drains at Debentan'e Value Liabilities Draleage Debentures outstanding (Ex. 4) 37,758.49 Less Debentures provided for in 1.939 payable in 1940 771.22 Capital Surplus Owing to Revenue Section, REVENUE Cash on Hand and in Bank General Bank Account (Ex. 3) Tax Collector's.Bank Account (Ex, 3) ....,,, Cash in. Hands of Tax Collector (Ex. 3) Arrears. of Taxes: Unpaid Taxes 1039 (EX. 6) Penalties thereon $ 1,251.40 168.52 58,30 $ 5,468.66 107.34 Unpaid Taxes 1933 including Penalties anti Interest 399,10 Unpaid Taxes 1937 including Penalties and: interest 210.16 Unpaid Taxes 1936 including Penalties and Interest 16.39 Estimated Provincial Subsidy Receivable 1839 re Roads Receivable from Township of McKillop re Roads Due l'ownslilp from :'Vlunicdpul Drains Balance due from Ethel Village (Ex. 7) Unexpired insurance (Ex. 6) Owing by Capital Section Bank Loan Debenture Priueipal due and unpaid (Ex. 4) .... $ 536.26 Debenture Interest due and unpaid (Ex. 4) ...,,. 3 26.70 562,96 6,987.27 312.069.77 3 6,987.27 2;850.00 2,222,50 312,059.77 $ 1,478.31 3 5,576.00 6,201.65 4,483.45 98.555 615.66 37.61 124.79 2,222.60 $15,262.51 36,000.00 Debenture Assessments 1939 and 1940 paYments (Ex.2) 771,22 Due 'Municipal Drains from Township 2,413.84 Sundry Accounts Payable 13100 Current Sanplus: Balance as. at 1st ,Ianuary 1839 $ 3,633.49 Add: Roads' share of Beauchamp Drain Surplus 59,15 Adjustment re Road Maintainer ,..,......., 3,540,00 Deduct: Overestimate on 1938 $ 6,232;64 Road Subsidy ... ,...... 2499.76 Drain Balances written, off 837.49 12.37.25 Adjusted Balance as at let January 1939 $ 4,895,39 Adtd: Excess of Income over Eapeucli'ture for year (Ex, 2) 434.10 TOWNSHIP OF GREY STATEMENT of INCOME and EXPENDITURE for year ending.- 31st December 1939 Income: Taxes, 1939 Levy (Ex. 6) Penalties and. Interest on Taxes Provincial Government -Assessment Subsidy Provincial Governimenit-1930 Road Subsidy estimated Provincial Government -re Relief Canadian Pacific Railway re North West Drain Roads and Bridges Drain balances used in Payment of debentures .,,..... , Debenture Assessments 1933 for 1939 payments Ethel Field Day br35.•...............••.,..,,.,,.,,,,.,,,,,,,,.,,,,,,,.,, Less Expenditure: County Levy School Boards $14,772,17 Roads and Budges 12,3314.35 Dobeniture,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 9,994,41 Principal (Ex, 4) 3,006.02 Debenture Interest (Ex, 4) Re Drains 1436.6.3 Salaries and Allowances ......................,636.63 Printin stag 1,341.93 g, Stationery and Yosii<tge ......,.... Insurance, Light, Heat & 'Care of Bld ,,,, 375,39 Direct Relief . '• 36 .29 Sunklry Grants .130.0 Board of Health 190.00 Telephone and Tills,..................... 414,12 ••.. •..•.................... 8113,42 Street Lights. Ethel Village TaX Levy (Ex, 7) ..., 280,47 Interest and Exchange 830,22 845.9 ShWeep] Illledor worried by dogs 1122.097 Inspector and Expense ..... Registration of Births, Marrja es, 21 Revisions of Voters Lists g Death 13.25 "" 35,00' Legal race , Debenture Assessments 1909 for 1340 100.73 PaYmen4s (19x, 1) Taxes reeni'tted by Council Shtndry Expehditure ;, Depreciation, Road Maintenance IxCeas of Income over Expenditure (Ex, 1) „ 39,883.02 WEDNESDAY, MAsIiICH' 27th, 1940' rr �. ssissisktvisevsks Exilbit TOWNSHIP OF PREY Abstract Statement of Receipts and Disbursements far year ending -,31st December 1939 Baianoei Its atl 1st January 1939 General 13ankr Account ,. ,,.... ,, , „ , ,,,,., $ 1,225.86 Tax Collecitors Bank Al0couwt 250,83 Gnat 1n Hands of Tax Collelcitlor 125,44 Adkl Receipts:^ 1939 Taxes collected (Ex. 6) ,,,,,,,,,,,,,,,,,, $ 38,746.72 Arrears of Taxes. collected) 4,152,69 19'33 orinpiel .RoaSl1Assib y Prov0ncPrIM Governmedbt-ssessment . • 4,187.67 Subsidy 4,096.02 Provdnedal !Government - re Relief 80294 'Town'ship of 'Morris, - re Lamont Drain ,,,, 461,14 Cana1ian'PaOd$c•Raliway re North Wast Drain 4.92 Bank Loan ]7,400.00 Receive/4 on account of Ethel VdYlage :,,,.,,. 424.70 Drainage' Debenture Sold (Ex. 4) 621,50 Roads) and Bridges 102751' Ethel Field Day 69.0'0 Total to be accounted for Dedutit Disbursement: County Levy Sohool Board's Roads and Bridges, Debenture. PrinldOOpal - 1939 Debenture Principal - 1939 (Ex. 4) Debenture Interest - 1938 Debenture Interest - 1939 (07x. 4) Re Drains) Bank Loan Salaries kind Allowances Printing, Stationery and Postage Insurance, Light, Heart, Care of Budlldngs• 380,39 Direst Relief 465.26 Sundry Gr,ints' 190.09 Board of Health 414.12 Tele1home an'd Toils 3,943.12 Street Lights 119,49 Disbursed on account of Ethel Village (Ex. 7) 3 1,602.11 65,844.61 $ 67,446.72' $34;772,17 112,334.35 9,994.41 218.0$, 2,409.76 42,07 418.01 1,130.93 16,000.00 1,169.95 3141.03 349.00 Inheres and Exchange 345.97 Sheep Killed or Wworrted by Dogs .,., 122.00 Weed Inspector and Expenbe 28,65 Registration of Births, Marriages and Deaths 13.25 Revision) of Voters' Lists 65.00 Legal Fees 140.7.8 Sundry Disbursements .220.71 65,968.41 Balance 85 at Slat December 1939 General Bank Account -) 1) ) ...... Tax 'Collector's Bank Account$ 1,251,5, 'Cash in hands of Tax Collector (1112.1) 6S392 1,478;31, Exhibit 6 $ 1,478.31. TOWNSHIP of GREY DISPOSITION of TAX ROLL Current Levy (Ex 2) of year ending - 31st December 1939 Penaltiets Added Deduct: Collections during year Transferred; to General Account ... ,..,.,, $ 33,519.31 'Balance in/ Collector's Bank Account 'Cash in Collector's Hands (Ex (E 1) 1) Unpaid 1939 Taxes as et 3ist December 1939 (Ex. � $ 39,20522 6,46 239,215.33 163.52 63.39 83.746.72 35,468, 66 TOWNSHIP of nRES STATEMENT of RECEIPTS and DISBURSEMENTS VILLAGE of ETHEL for year ending - 31st December 1939 Balance due Village of Ethel 1>y Township 1st January 1939 $ 6.47 6,379.49 Add Receipts, Levy Township ltwte Levy Village Rate 315,262,51 License Pool Table Ethel Scales Exhibit 7 Exhibit 2 $39,208.92 267.81 4,096.02 4,483.45 25L74 4.02 1,126,0$ 151.80 1,636.22 69,00 Deduct Diebursmenis: 'Street Lighting Library Grant Winks' Clock ..... Bulbs] re Street Lights Scale Books, Pollee Duty Balance due Towusbip by Ethel Village, 31st December 1989 (Ex, 1) $ 37.61 so*+ +•• +•�•-•44,••••••••44•44•44-,•441•44•4•••• $81, X11+NDN+♦ ♦N♦ ♦ •H♦.+ -•_•H••-• • ♦ ♦ ♦ S. Twp., of Grey 3 127,37 152.85 10:00 14.70 $ 175.00 25.00 10.00 32,56 4,60 2.00. 804.92 4 811.39 349.00 771.22 19,96 220.71 817.50 50,811.84 $434,10 NOTICE The Council of a Township ay pass a By';Law, pursuant to the "Tile Drainage Act" to Borrow Money to assist in the eConstrue ion of Tile Drainage. If sufficient applications are received from owners of Farms. The Council propose to Borrow from the Pro- vincial Governnnent the Necessary Funds to assist For Construction of Tile Drain in the Township of Grey. in the 'thinformation Consult any member of the Council or the Clerk. Application Terms may be had at the Clerk's Office. J. 11. FEAR, Clerk. 4•+.0,4•4•4•,ON•N•N.N•N�NiN•N•NON4M•N•N�N•w•N•N�• �