The Lucknow Sentinel, 1986-06-18, Page 14Page 14 -Loc
1a
ow Sentinel, Wednesday, June 18, 1986
the Corporation of the Village of Lucknow
Auditor's Report and Financial Statements
FOR THE YEAR ENDED December 31,19 5
Auditor's
Report
AUDITOR°S REPORT
To the Members of Council, Inhabitants and
Ratepayers of the Corporation
of the Village of Lucknow
We have examined the consolidated balance sheet of the Corporation of the Village of
Lucknow 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 Village of Lucknow as at December 31, 1985 and the
results of its operations for the year then ended in accordance with the accounting
principles prescribed for Ontario municipalities applied on a basis consistent with
that of the preceding year.
April 9, 1986
Licence No.: 1110
Xs/440w eiily4 4
Vodden & Bender
Chartered Accountants
Consolidated Balance Sheet
AS AT DECEMBER 31,1 985
ASSETS
Unrestricted
Cash
Taxes receivable
Accounts receivable
Other current assets
Capital outlay financed by loiig®term liabilities
and to be recovered in future years (note 1(b)) $ 210,921 $ 147,346
1985 1984
41,070 49,488
29,252 42,980
128,393 35,579
177
198,715 128,224
12,206 19,122
LIABILITIES
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities
Net long-term liabilities (note 4)
FUND BALANCES AT THE END
OF THE YEAR
50,000 50,000
78,292 27,350
21
12,206 19,122
140,519 96,472
To be used to offset taxation or user charges in 1986
(note 5)
Capital operations not yet permanently financed
Reserves (note 6)
30,402
25,574
(9',700)
40,000 35,000
$ 210,921 $ 147,346
The accompanying notes are an integral part of this financial statement
Consolidated Statement of Operations
FOR THE YEAR ENDED DECEMBER 31,1 985
SOURCES OF FINANCING:
Taxation and user charges
Residential taxation
Commercial, industrial and
business taxation
Taxation from other governments
User charges
Grants
Province of Ontario
Other municipalities
Other
Penalties and interest on taxes
Investment income
Deduct: Amounts received or receivable
for County and school boards
UNICIPAL FUND BALANCES AT
THE BEGINNING OF THE YEAR
1985
Budget
245,830
122,580
8,710
154,632
265,800
5,700
6,000
1,200
(242,486)
567,966
1985
Actual
246,968
123,046
8,911
169,493
281,188
5,711
4,117
1,256
(243,509)
597,181
To be used to offset taxation or
user charges 25,574 25,574
Capital operations not yet
financed
Total financing available
(9,700)
during the year$ 583,840
(9,700)
1984
Actual
235,475
122,576
8,660
147,799
148,682
5,679
1985 1985 1984
Budget Actual Actual
APPLIED TO:
Current operations
General government 56,500 56,868 44,935
Protection to persons and property 46,745 51,585 43,539
Transportation services 80,000 75,996 64,646
Environmental services 74,660 73,805 75,213
Health services 11,727 17,215 12,394
Social and family services 1,000 1,525 575
Recreation and cultural services 90,000 95,226 85,598
Planning and development 3,300 8,644 -
363,932 380,864 326,900
7,752 Capital
Street reconstruction
Sewerage system
Property purchase
(231,325)
445,298
Net appropriations to reserves
MUNICIPAL FUND BALANCES
AT THE END OF THE YEAR
29,039
(9,814)
116,000 157,527 90,852
73,500 39,262 19,327
11,570
189,500 196,789 121,749
5,000 5,000 -
To be used to offset taxation or
user charges 25,408 30,402
Capital operations not yet financed - -
$ 613,055 $ 464,523 Total applications during the year
The accompanying notes are an integral part of this financial statement
$ 583,840 $ 613,055
25,574
(9,700)
$ 464,523