The Lucknow Sentinel, 1986-06-04, Page 12Page 12-L know Sentinel, Wednesday, June 4, 1986
The Township of Kinloss
Auditor's Report and Financial Statements
FOR THE YEAR ENDED DECEMBER 31,1985
Consolidated Balance Sheet
AS AT DECEMBER 31.1985
ASSETS
Auditor's
Report
To the Members of Council, Inhabitants,
and Ratepayers of the Corporation of
the Township of Kin1or3
We h ve examined the consolidated balance sheet of the Corporation of the
Township Of Kinloss as at December 31, 1985, and the consolidated statement of
operations 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.
In our opinion, these consolidated financial statements present fairly the
financial position of the Corporation of the Township of Kinloss as at December Temporary loans and advances
31, 1985, and the results of its operations for the year then ended in accordanceAccounts payable and accrued liabilities
with the accounting principles prescribed for Ontario Municipalities applied on Other current liabilities
a basis consistent with that of the preceding year.
UNRESTRICTED
Cash
Taxes receivable
Accounts receivable
Other current assets
Tax registration accounts
RESTRICTED
Cash
Long term receivable m 0.H.R.P. loans
LIABILITIES
1
Listowel, Ontario
March 24, 1986.
Licence No. 1203
CHARTERED ACCOUNTANTS
TUND
B ALA N C E,S
To be used to offset taxation or user charges
in 1986 (note 7)
:apital operations not yet permanently
financed (note 7)
leserves (note 8)
teserve funds (note 8)
1435 1984
$ a $ 37,900
93,807 99,802
117,828 90,008
4,495 444
23,052 44255
259,172 272,409
10,456
24,977
35,433
$259,172 $307,842
$ 8,834,
50,705
27,178
$ 67,500
87,420
26,464
06,717 181,384
9,554 356
(4,099) (39,331)
167,000
$259, 172
130,000
35,433
$307,842
Consolidated Statement of Operations
FOR THE YEAR ENDED DECEMBER 31,1 985
SOURCES OF FINANCING:
Taxation and user charges
Residential and farm,tar.aticn
Commercial, industrial and bueiner,s
taxation
Telephone levies
Municipal drainage charges
Licences and permits
Fees and service charges
Street lighting
Grants
Province of Ontario
Other municipalities
Budget
1985
Actual
1985
Actual
1984
5410,77.5 5411,617 $ 388,284
17,662
7,970
1'.,755
3,000
3,500
1 L1 2 7
458,789
385,830
322,P30
Other ---
Municipal capital drainage collections 27,331
Penalty and interest on t" -:'s 14,r10
Investment income
41,331
Total funds raised for the year ' 892,950
Deduct: amounts received or rrr.^iva`,le
for county and school boards (note 2) (2942,36)
Net appropriations from renerves and
reserve funds (note 3)
MUNICIPAL FUND BALANCES - BEGINNING OF YEAR
To be used to offset taxation or user
charges (to be recovered from) (note 7)
Capital operations not yct permar:ntly
financed (note ')
TOTAL FINANCING AVAILABLE FOR THE YEAR
598,114
17,663
7,970
19,659
4,471
3,470
1 `127
464,977
4'3,258
8 166
401,444
22,266
17,266
,1,333
40,865
907,286
16,550
7,997
1,159
4,232
3,246
967
422,435
357,949
13,662
371,611
20,779
15,234
2,687
38,700
832,746
(295400) (2731688)
611,886 559,058
•
356 356
(39,331) (39331)
(38,975) (38,975)
2,430
(12,055)
(27,708)
(39,763)
$55',139 5572,911 $ 521,725
====St== =====t3===
APPLIED TO:
Current Operations
General government
Fire (note 3)
Conservation authority
Protective inspection and control
Roadways
Street lighting
Garbage disposal
Public health services (note 3)
Hospitals
Parks and recreation (note 3)
Planning and voning
Municipal drains
Ontario Home Renewal Program (note
Capital
General government
Roadways
Health services
Municipal drains
Total funds expended for the year
Net appropriations to reserves ani
reserve funds (note 8)
MUNICIPAL FUND BALANCES ^ END OF YEAR
To be used to offset taxation or
user charges (note 7)
Capital operations not yet permanently
financed (note' 7)
TOTAL APPLICATIONS FOR THE YEAR
Budget
1935
Actual
1335
Actual
1984
$ 71,000 $ 64,835 $ 68,976
9,000 8,964 7,935
5,6?2 5,622 4,579
5,706 3,274 4,745
220,000 268,477 245,929
1,127 1,221 1,127
9,000 6,332 8,561
4,794 3,667 2,328
150 150 125
19,000 16,328 16,751
2,600 670 1,517
17,100 21,796 25,482
3) 4,000
364,099 401,585 392,055
178,100
4000
2,991
125,141 113,776
9:0 940
2,789 50,938
183,040 128,870 168,645
547,139. 530,456 560,700
22,000 37,000
9,554
356
(10,000) (4 099) (39.331)
(10,000) 5,455 (38,975)
5559,159 $572,911 $521,725
a