The Brussels Post, 1979-04-25, Page 4- THE BRUSSELS POST, APRIL 25, 1979
TI WNSHIP
Auditor's
OF GREY
Report
To: The Members of Council, Inhabitants
and Ratepayers.
We have examined the 1978 Financial Statements of the Corporation of the
Township of Grey including the consolidated local boards.
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.
In our opinion these financial statements present fairly the financial position of
the Corporation of the Township of Grey as at December 31st, 1,978 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 preceeding year.
89,158. 93,434. Revenue to pay the region or county requisition
School board requisition
Taxation
Payments in lieu of taxes
Other
230,908. 214,536.
151.
Revenue to pay the school board requisition 231,059. 214,536.
Total revenue
Accumulated net revenue [deficit] at the end of the year 103,884. 46,199.
706,081. 660,777.
Respectfully submitted,
Monteith, Monteith & Co.
Chartered Accountants.
License No. 871
Date of Filing: March 30th, 1979
ACCOUNTING POLICI S:
(a) Statement of Revenue and Expen
This statement reflects the revenues
the following local boards:
Grey Township Recreation Committee
Ethel Community Centre
Cranbrook Community Centre
Monrcrieff Community Centre
Township of Grey Firemen's Fund.
There are no municipal enterprises consolidated in these results.
(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 as described in note 1 (a).
(c) Balance Sheet
This statement reflects the assets and liabilities of the revenue fund, the capital
fund and local boards as described in note 1 (a)
(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 is the aggregate of the principal portion of unmatured 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
recovered from service
whose revenues and e
statements is:
Monet Pleasant Cemetery
Cranbrook Cemetery
(f) Charges for Net Long Term Liabilities:
Debt retirement costs including principal and interest are charged against
current revenues in the periods in which they are paid. Interest charges are not
accrued for the periods from the date(s) of the lates interest payment(s) to the
end of the financial year.
(g) Trust Funds:
Trust funds administered by the municipality amounting to S6,669. are only
reflected in the Trust Funds, Statement of Continuity and Balance Sheet.
7,288.
28,172.
1,996.
4,190.
( 611.)
5,164.
70,188.
23,275.
1,172.
3,292.
( 954.)
6,911.
Analysed as follows:
General revenue
Region or county
School bciards
Special charges
Special areas
Local boards
Municipal enterprises
diture:
and expenditures of the revenue fund and
103,884. 46,199.
STATMENT OF CAPITAL OF OPERATIONS
TOWNSHIP OF GREY
for the year ended December 31, 1978
1978 1977
Acutal Actual
Unfinanced capital outlay [Unexpended capital financing]
at the beginning of the year 288,569. 174,659.
4,951. 9,895.
840.
108,440. 83,943.
are those activities whose costs are substantially
harges on the users. The enterprise of this municipality
penditures has not been consolidated in these financial
283,109. 180,917.
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 397,340. 274,755.
Capital financing
Contributions from the revenue fund
Contributions from reserve funds and reserves
Long term liabilities incurred
Ontario grants
Other
49,176. 63,105.
1,500.
123,820. 41,972.
201,281. 55,768.
S 375,777. 160,845. TATMENT OF REVENUE AND EXPENDITURE
Township of Grey
for the year ended December 31,1978 310,132. 288,569. 1978 1978
Budget Actual
$
1977
Actual
$
.Ao...-unsalarsed net, revenue tclefieltj at the beginning of the year 46,199. 57,706.
Expendi=es and n-,ansfers
Municipal expenditures 69,794. 49,888.
Rrotezdon to persons andpropel' 25,955. 11,424.
Tr; r,spor- -6.on services 167,465 239,098.
Environmental services 14,642. 6,496.
Health services 462. 301.
Sc and family services 1,514. 1,368.
Recreation and cuirzzsl services 3,075. 3,201.
Kanning and deveiopmett 39.551. 51,934.
Other
Total -expendittret 322,458. 363,710.
Transfers
Transfers to region or counts:,-
Transfers ro ,sch.oeiT boards
94,055.
23(883.
94,019.
214,555.
Total Transfers 325 S. 308.5'4.
Total expenditures and 'transfers 648,396. 672,284.
ReYeane by purpose
Municipal purposes
Taxation 150.380. 123,110.
Paymen - in lieu of rates 308.
Ontario grants 131.572 172,928.
Other grants
Fees and service charges 40,366.. 46,272.
Chher 63.449. 10,189.
Revenue to pay for municipal purpoSes 3:85464. 352807.
Total capital financing
Unfinanced capital outlay [Unexpended capital
financing] at the end of the year
BALANCE SHEET
TOWNSHIP OF GREY
as at December 31, 1978
1978 1977
S $
ASSETS
Current assets
Cash
Taxes receivable
Accounts receivable
Other current assets
10,928. 5,164.
39,867. 31,319.
550,865. 571,803.
Capital outlay to be recovered In future years
Other long term assets
116,258. 128,926.
434,607. 442,877.
450,865. 571,803.
LIABILITIES
Current liabilities
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities
239,414. 275,914.
33,092. 45,382.
Region or 00133try tecidetion
Taxation
patents in lieu of'taxes
Oin.rio grants
Other
get long term liabitities
Reserve& and reserve funds
Acturnulated net revenue [deficit] and
anapplied Capital receipts. 66,169 14721.
45.
224944, 20,713.
272,506, 321,296.
124,475, 154,308.
50,000, 50,000.
103,884. 46,100 .
550,868. 571,803.