The Lucknow Sentinel, 1996-03-20, Page 8Page 8 - Lueknow Seui t uet Wetbies
a3,7 2O 1996
^41'
Mark cmisurer
r's Report and FinncIa�
or The Year ended Decem
Rtement
t 1995
iSHIP OF KINI-„enS
CONSOLIDATED EM#Ner MEET
DECEMBER 31st, 1.470,05
To the Members of CounellA la phabitantsa
mid Ratepayers of the Corporation. of
the Township of Kin1Qss.
We hare:'audited the consolidatedbalairee sheet Of the Corporation'► of the Township
of Kinloss as at December 31, 1995 and the consolidated statement of operations for the
year then ended.. These financial statements are tate responsibility of the Township's.
management, Qur responsibility Is to express, an .opinion on these financial statements
based on our audit.
We conducted our audit Yri"accordance with generally accepted auditing standards
Thosestandards .require that we plan and, perform an .audit to obtain reasonable
assurance whether the financial statements" are free of material misstatement. An, audit
includes, examining, on a test basis, evidence supporting the amounts and disclosures -in
the fiinancial. statements An audit also includes assessing the accounting principles used
and significant etihates made by management, as well, as evaluating>the overall financial
statement presentation.' ,
In our opinion ,tbe$e,consolida.ted,financial statements present fairly the financial
position'ef the Corporation of the ToW >!ship of. Kinloss as at December 31, 1995 and the
re'suits:of its operations for the year then ended in accordance with the accounting
principles disclosed in Note '1 to the financial' statements.
Goderich, Ontario
ianuary 26, 1996 .
Licence No. 1203
UNRESTRIC1E,D
ASSETS
Cash
- Taxes. reeeivabie
Receivables
Tax registration accounts
$19,313•
117,725
47',442.
2,211
12a4,
$188,997
93,969.
13,300
2,211
•$,691
- - Ia
LIAfilarlES:
Payables,and accruals
• Othercurrent liabilities
$75,102
5,155
80,257
FUND BALANCES
To be used to offset taxation (to be recovered
from) taxation or user charges in 1995 (Note 6) "(3,357)
Unexpended capital financing (Note 6').
Reserves. (Note 7)
591
• 109,200
$18�6,G91
$298,477
$50,710 _
003
o 57,713 ,.
,105,973
591
134,200
$298,477
t ..
•
\{\ �'•\\� "�,t4id.
44
Budget
1995
Actual Actual.
1 . 1224
E•
APPLIED TO.
Current Operations
General govermneht
Fire (Note 3)
Conservation authority ;
Protective inspection and control
Roadways
Street lighting
Garbage disposal
Public health services (Note 3)
Parks and recreation (Note. 3)
Munielpai drains
Planning aitd. zoning : • ,
Gravt;l,pit farin
$101,529
15,000
7,'
5,000
260,000
2,500 '
32,000
3,090
32,000
12,000
25,000
6,000
:501,029'
$93,276. $97,206.
12,081 11,888
. 6,963. 6,483
9,568 3,676
195,452 :: ' 201,532
2,230 ••'.y 2,450
24,448. 20,713
33,869 28,919
8,575 12,368
43,164
SOURCES OF FINANCING:
Taxation and user charges
• Residential and farm taxation
Commercial; Industrial and btisiness
taxation '
Telephone levies
Taxation -from other. governments
Municipal drainage charges
• Licences and pernnits •
Fees and service charges
Street
Grants -
Province of Ontario
Federal
Other municipalities
$693,090 $667,945.
31,262 31,157
15,059 15,746
1,967 1,922 •
5,479 4,055
9,420 8,344
10,769 18,979
2,544 • ' 2,214
, 478,674 • ' 476,800 513,440
42,074 39,369 2,705 '
�.� 11590•. 2.253
520,748 517,759. 518,398
Total funds expended. the Year . 880,150
MUNICIPAL. FUND BALANCES (Deficiencies), ENO OF YEAR
To be used to offset (to be recovered. from) ..
taxation or user charges (Note 6)
- Unexpended capital Mancing
(Note 6)
(2,766).
TOTAL APPL1CAT1ONS POR Tit )(MR 880,150 ' ! 891,301
Other
Penalty and inters t on taxes
investment income
Miscellaneous revenue
13,000
2,000
2,000
Total funds raised for the year
Deduce` amounts received or receivable
for county and scho01 boards (Note 2)
Net apprnpriations from rese
resetve funds (Note 7)
1;309,114 1,290,258
(549,377) • . (530,461)
759,737' 759,191.,.
•MLNICt l I JNI ' 611. IVC BEGINNING CIF ye*
853,881 •T0''e used to offset taxation fir
user chargee (N'ote 6) .;
Unexpended taOltat. firia ncin8
(!kite)
105,973 • 60630,
591 5'1.
106,56.4 61,321
$891,301 $853;881:
omplete.Auditor*s, prep ort is. available at the Township Oifice.