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HomeMy WebLinkAboutThe Huron Expositor, 1983-05-25, Page 13THE HURON EXPOSITOR, MAY 25, 1983 - A13 - VILLAGE OF BRUSSELS AUDITOR'S' REPORT For The Year Ending December 31, 1982 MAL Gll_LI�7F/�l' s Co. InternatmuaIty Saryo, and Onn,nhalm nand,. At. a I' O. an, i09 1.14'.,4.11, On' ✓., Rx .0117 CA51, Apo,' I 1,1y.11 tvl••yxw, (1'1.01 231 MI AUDITOR'S REPORT AI d(0!22..5'.. Pod caltrnn. W1ns•I .05n tl,low" Calve vn=<'. t vat,. %Mt .>, BALANCE SHEET CON'T Accounts receivable . 44,823 31,757 Other current assets TRUST FUNDS STATEMENT OF CONTINUITY CON'T 214,063 289,908 Expenditure . Transferred to cemete general fund To the Members of Council, Inhabitants and- Ratepayers of the Village of Brussels We have examined the consolidated balance sheet of the Village of Brussels as at December 31, 1982 and the consolidated statements of revenue and expenditure, capital operations, continuity of trust funds and reserve and reserve funds continuity and analysis of year end position for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests and other procedures as we considered necessary in the circumstances, except that our examination of the books and records of the local boards was limited to an examination of the receipts and disbursements as recorded in the books of the local boards. In our opinion, subject to the above comments, these consolidated financial statements present fairly the financial position of the Village of Brussels 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. Listowel, Ontario, February 8, 1983, License No. 622. •-,. C2 1.'1 •.�i .Cr,s i,%' Capital outlay to be recovered in future years Other long term alaeb 1114 3,077 ' 3,077 3,077 . 3,077 43,144 37,605 Balance at the end of the year 45,506 45,506 257,207 327,513 LIABILITIES Current liabilities Temporary loans Accounts payable and accrued liabilities Ocher current liabilities 1982 Acted S 1981 Actual 29,783 29,783 S BALANCE SHEET as at December 31, 1982 Tota] rusacls Cemetery Perpetual Care 131,291 w 131,291 s a f Assets Cash' 558 558 Net long term liabilities Reserves and reserve funds CHARTERED ACCOUNTANTS 178,828 166,061 Accumulated net revenue (deficit) and unapplied capital receipts 48,596 30,161 STATEMENT OF REVENUE AND EXPENDITURE for the year ended December 31, 1982 1967 Budget 1962 Actual 1981 Actual Investments, at cost (market value $ 42,505 Canada Provincial JYt.74,19200C4Sal6Ont. Hydro XXUOftQtCredit Foncier Canada Trust Vic. & Grey Trust Can. Nat. Railways The .c.omp.nying nog., are an integral ran alai, financial ..oaan.m. 257;207 327,513 Other 21,000 1,000 2,000 13,000 1,000 6,000 1.,000 45.000 21,000 1,000 2,000 13,000 1,000 6,000 1.000 45.000 r i Accumulated net revenue (deficit) at the beginning of the year Expenditures and transfers Municipal expenditures 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 27,461 57,120 NOTES TO THE FINANCIAL STATEMENTS for the year ended December 31,1982 59,922 22,663 57,760 17,103 2,200 9,000 11,000 'total expenditure 179.648 Transfers Transfers to region or county Transfers to school boards Total transfers Total expenditures and transfers Revenue by purpose Municipal purposes Taxation Payments in lieu of taxes Ontario grants Other grants Fees and service ehat'ges Other 58,457 21,568 74,473 ✓ 115,030 22,81.7 112,914 18,401 423.660 . 75,015 17,526 65,092 46,765 12,995 95,222 12.6 • 32,339 118,135 150 474 330,122 32,700 119, 950 152.650 576,310 30,458 109.001 13943i 452,074 Revenue to pay for municipal purposes Region or county requisition Taxation Payments in lieu of taxes Ontario grants Other 73,619 4,300 67,465 7,418 26,846 179,648 180,927 6,114 79,833 22,241 59,452 93,493 . 442,060 86,623 3,852 52,927 6,673 .i. 53,719 79.411 283,205 30,839 1,500 31,199 799 29,573 823 Revenue to pay the region or county requisition School hoard requisition Taxation Payments in lieu of taxes Other Revenue to pay the school board requisition Total revenue 32,339 31,998 30,396 115,346 . 2,789 • . --118 135 330,122 117,164 2,556 • _ 119.720 593,778 106,317 2,497 . 108,1.14- 422,415 Accumulated net revenue (deficit) at the end of the year A" ;'lysed as follows General revenue Region or county School boards Special charers Special arras 1 u.al hoards 01unnlpal enterprises nil 44,929 27,461 19,4°1 1,161 (1,233) (1,666) 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 municipal enterprises: Brussels Recreation, Earks and Community Centre Board Brussels Public Utilities Commission - Waterworks Brussels Medical - Dental Centre Brussels Cemetery b) 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 and municipal enter-, prises as described in note 1(a). c) Balance Sheet This statement reflects the assets and liabilities of the revenue fund, the capital fund, reserve funds and local boards and municipa- enterprises as described in note 1(a). d) Fixed Assets This historical cost and accumulated depreciation of fixed assets is not reported for municipal purposes. Instead, the "Capital outlay to by recovered in future years" which is the aggregate of the prieeielc portion of unmatutod'long term liabilities, capital funds transferred to other organizations, and the cost of capital projects not yet permanently financed is reported on the Balance Sheet. e) Municipal Enterprises Municipal enterprises arc those activities whose costs are substantially recovered from services charged on the users. The enterprises of this municipality whose revenues and expen- ditures have not been consolidated in these financial statements are: 45,558 45,558 Liabilities Accounts payable and accrued liabilities (litter 52 52 Balance capital income 45,506 45, 506 45,553 • 45,506 45,506- 45,558 Brussels Public Utilities Commission - Hydro `f) Perpetual Care Fund Interest earned on investments held by the perpetual care fund is transferred to the general cemetery account, g) Prepayment of Burial Costs Prepayments of burial costs arc occasionally made by persons at the time of purchasing their cemetery plots. It has been the policy of the board of the Brussels Cemetery to include these payments in the income of the year when they are received raeher than in the year when the services are rendered. Tltis has re- sulted in a liability for future services, the amount of which has not been ascertained at this time. The information to extabliah the amount is recorded in the index of plots. 2, CAPITAL tJU'fLA' TO BI: RECOVER LI) 1:. FUTUI1Ii 1'14115 Cant lnl out1 aye;, including fi .I 1 a:, ':'•ts and the trans fers of cap 1.11 fonds in the c. rsnt of $17,1;S, t'hirh have her rn•i gin"cal 13,145 niunicipnl revenues of tlu' culrl 11 year, are ro pet l' J o'r the State"s'tit of Revenue and Expenditure. 10,131 Short Shots by Evelyn Kennedy Have you had a hearty laugh today? Laughter brings relief from tension or boredom. The ability to laugh at yourself can dispel anger and.resentmcnt. Bring.a,happy. conclusion to a silly argument. 8*** ** The price of gasoline to feed our ever guzzling cars has been bobbing up and down like a yo-yo. In certain communities the major oil firms have been waging a gasoline price war. They have now called a truce. The price went up and has remained steady for the past few days. How long it will remain stable is questionable. They say it will depend on the independent dealers who, it is feared, will fail to follow the lead of the oil companies. In the Kitchener -Waterloo area the price went as low as 18.4 cents for regular and 20.8 for unleaded - Not that low to this community. Ae*8U98 All the oil in Alberta will not sooth the bruised and battered pride of the Edmonton Oilers. Their enthusiastic fans, not only in Alberta but across Canada, were hopeful that that Canadian team, with the high -scoring Gretzky could withstand, and triumph over the experience and strength of the New York Islanders and wrest the Stanley Cup from the three -time champions. But it was not to be in spite of the all-out efforts of the players who never gave up. The Oilers, there is little doubt, are already looking forward and working on strategy that will bring more 3. RESERVE FUNDS During the year, $7,261 was credited directly to reserve funds without being recorded as revenues rind expenditures of the Revenue Fund. STATEMENT OF CAPITAL OPERATIONS for the year ended December 31, 1982 Interest earned Lot levies Sale of fire truck 1982 1981 $7,210 50 $ 8,199 5.200 199? Actual 1981 Acted 4, tin fin .arced capital outlay (Unexpended capital financing) at the beginning of the year Capital expenditure (2,700) $7,260 $13,399 4. ACCUMULATED NET REVENUE (DEFICIT) AT THE END OF THE YEAR a) 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 government Protection to persons and property Transportation services Fnvironmental services Health servers Social and family services Recreation and cultural services Planning and development Other Total expenditure Capital financing 1 x57,469 20,513 5,728 1,870 1,919 29,168 108,334 2 14,347 General ratepayers School board ratepayers County ratepayers 1982 1981 $48,960 $30,560 (2,096) (1,866) (1,935) (1,233) $44,929 $27,461 success in the next NHL season. •8tl,8tt4 .. It has been sal by a therapeutic dietitian. the dire -of 'Weight4Vatchers International, that fid diets are- a fraud. People looking for quii:k bucks write fad diet ' books and market their advertised products. She said that on such! diets you lose weight quickly and putpounds back on quickly. They harm the macro -nutrients (protein carbohy- drates and fats) that' are essential for good health. When a person loses weight quickly he also loses lean body mass, which is water, fat and protein. When that happens it affects muscle tissue, heart. kidney and liver. When you cease the diet you get back fat and water but not muscle. A leading nutritionist said she fears such diets can cause anorexia nervosa, the condition that has a 70 per cent death rate in the United'States. Unseasonable cold has been with us again but we can be thankful that we have so far, escaped the wintery blast that swept the U.S. states of Colarado and Wyoming. What was called an "incredible" May bliziard brought high winds, deep snow drifts, felled trans- mission lines that left thousands of people without power, blocked interstate highways and cancelled flights that left thousands of truckers and travellers stranded. Refugee tells of life Continued from page 12 children are awaiting her. They correspdnd every month. Mrs. Larprom has two brothers in Australia and three still in Laos. She cor- responds regularly with them. MELVILLE GUILD Guild was held in the church basement Tues. May 17. Helen Elliott and Marg- uerite Krauter conducted worship. Helen gave the topic on "Listening" Each of us can improve our (listening ability. Give' time, to stening- do-nat switch off. A speaker can only speak at a rate of one hundred to one hundred and twenty-five words per minute but the 81.709 355,640 5. COMMITMENTS The municipality has entered 1ntn an agreement with the Ministry of the Environment concerning the construction and maintenance of a sanitary sewer system. The municipality's share of the charges on this agreement will be recovered from benefitting ratepayers over a period of forty years, Contributions from the revenue fund Contributions from reserves and reserve funds long term liabilities incurred Ontario grants Other Total capital financing 17,158 38,950 8'04oio 16,974 10,501 40_041 84.676 Unfinanced capital outlay (Unexpended capital financing) at the end of the year 8,343 108 991 )56_246 ___22667) �.. (2,700) TRUST FUNDS STATEMENT OF CONTINUITY the year ended December 31,1982 BALANCE SHEET as at December 31, 1982 Intal InnsweTs Cemetery Perpetual Carr 120 Day Deposits $5,000. Minimum An "A" Rated Quality Inveatfnent by The Canada B&W Rating Service listener is able to think from four to five times faster and in that extra time she is apt to let her emotional reactions or the speakers unconcious expres- sions and movements influ- ence her understanding of the subject. Final plans were made for the May supper Wednesday. May 25. Margaret Work has invited the Guild to Bold their June meeting at het home. russets CLASSIFIEDS Coming Events Apts. for Rent 25TH ANNIVERSARY: The family of John and Marie McIntosh will hold an open reception in honour of their parents' 25th wedding anni- versary. It will be held Saturday, June 4. Social hour begins at 8:00 p.m. Dancing 9-1 in the Wingham Legion. Best wishes only. 1.21-2 Situations Wanted WILL cut lawns in Brussels 887-6983. Ask for David or Darryl. 7-20-2 ASSETS Current assets Cash Taxes receivable 1997 1981 Aoud Actual 5 5 117,273 220,984 51,967 3167 Balance at the beginning of the year Capital receipts Cemetery plots Interest earned Other revenue 43,676 43,676 1,830 3,077 1,830 3,077 4,901_ 1 STANDARD TRUST 237 Josephine Street. Wingham, Ontario Telephone 357.2022 Rates subject to change Member Canada Deposit Insurance Corporation Farm Stock 2 bedroom apartment for rent on Queen St.. Brussels. Phone 887.6026. 15-19-3 Card of Thanks Many thanks to our family for planning our 25th wedding anniversary party. Sincere thanks to our friends, neigh- bours and relatives who at- tended and made it such a memorable occasion. Thank you for the good wishes, cards, gifts and flowers and to all who helped in any way. Jack and Donna Knight 24-21x1 643FO7. SALE: 5 stockers. 21.1 EXPOSITOR Articles for Sale WANT - ADS Phone 527-0240 KITTENS to give away. Call .887.6069. 11.20-2