The Brussels Post, 1974-04-03, Page 14Imor
Fend.
nnday
8:00
,ril 13
and
th
plesau
up pl
11:
(.8918
up vis
April 2
Tour
pril 2
and
Cob
Det o'
admis
May 3
Derby
ay 25-,
Festiva
2 Day
G
TRA
x 789
Pho:
VILLAGE of BRUSSELS auditor's report 1973 •
In my opinion these financial statements present fairly the
financial position of the Corporation of the Village of Brussels and -
its local boards as at December 31st, 1973, and the results of their
operations for the year then ended, in accordance with accounting
principles generally accepted for Ontario municipalities applied on a,
basis consistent with that of the preceding year.
To: The Members of Council, and Ratepayers of the Corporation of
the Village of Brussels.
I have examined the 1973 financial statements of the Corporation
of the Village of Brussels and its local. Boards, which are listed on
the attached Index. My examination included a general review of
the accounting procedures and such tests of accounting recOrds and
other supporting evidence as I considered necessary in the
circumstances.
(Signed) A.M,I-Irper
City Goderich, Ontario
Date January 17, 1974
Liceneed Number 4440
STATEMENI OF REVENUE AND EXPENDITURE
for the year ended December 31, 1973
REVENUE
1973
$
1972
EXPENDITURE
1973 1972
Taxation 84,905 86,962 General government 10,120 12,008
Contributions from other governments 31,550 16,036 Protection to persons and property 8,883 10,644
Other 8,262 11,687 Transportatioi, services 26,257 18,257
Environmental services 5,895 5,000
124,717 114,685 Conservation of health 202
Social and family services 18
Recreation and community services 2,471 9,678
Accumulated net revenue [deficit] at Community planning and development 7,196 2,750
the end of the year 40,499 37,665 Financial expenses 8,950 2,115
Region or county - share of expenditure 18,973 19,707
Education 33,138 33,629
Analysed as follows:
(121,883) (114,008)
General revenue 37,281 35,487
Special charges 3,218 2,178 1973 1972
40,499 37,665 Accumulated net revenue [deficit]` at $ - $
the beginning of the year. ... 37,665 . 36,988
CONSOLIDATED BALANCE SHEET
as at December 31, 1973
ASSETS
Current Assets
LIABILITIES
Current Liabilities
1973 1972 1973 1972
$ •
Cash
Accounts receivable
36,659
14,799
34,372
7,708 Accounts payable and accrued liabilities 12,020 3,452
Taxes receivable 19,186 -14,033
Other current assets 1,004 12,020 3,452
70,644 57,117 Net long term liabilities 4,678 6,312
Reserves and reserve funds 18,125 16,000
Capital outlay to he recovered in Accumulated net revenue [deficit] and
future years 4,678 6,312 unappiled capital receipts 40,499 37,665
75,322 63,429 75,322 63,429
NOTES TO FINANCIAL STATEMENTS
1. Charges for net long term liabilities
Total charges for the year for net long term
liabilities were as &Hews:
Principal paylnentS
Interest
3. Net long term liabilities
Total long term liabilities incurred by the
municipality and outstanding At the end of the year
1,634 antount to 65,678
336
Of the total charges shown above, $850. was paid from the revenue
ot the municipality and is incltided in etpenditttres, classified tinder
the appropriate functional headings, and $1,120 Was recovered front
Public Utilities Water Supply System for Which the related net long
tern' liability was incurred.
2. Basis of consolidation
The Consolidated Balance sheet reflects the assets arid
ofliabilities the revenue ft4iit and the capital fund. The assets
and liabilities of the ideal boards have riot beenconSolidated, •
4,-INE. BRUSSELS- ititti..AMIL 8.
Of the long term liabilities shown above the
responsibility for payment of principal and interest charges
has been asStimed by the Huron Cottnty Board of gduation
for a principal amount of . 61,000
•
Net long term liabilities at the end Of the year $ 4,6/8
4. Capital oaday to be recovered in future years,
Oriae capital outlay' floes not represent a.hdrdett on
general municipal reventies, as it is to be
reCevered iti future years frOM Other sources:
Municipal enterprises 1,00
$1,400