The Lucknow Sentinel, 1979-08-15, Page 24' 11
w' ?r4-.? /w Sentinel, well sy, *trot 13, 1979
ery ,
The CorporaliOn of 1Ve Township Of
Avditor's Report and Financial Statements
FOR THE TEAR ENDED DECEMBER 31,1978
Auditor's Report
MacGillivray & Co.
,c pawned Acpountartls ,•
380 Wallace Ave: N., Llstowel, Ontario
'(519) 291.1241 Cable "Charts" Llstowel,
International'
Leidesdort MacGillivray & co, •
Moore 'MacGithway & Co..
TO: The members o.f council, inhabitants and
ratepayers of the Township of,Kinloss
Montreal
Toronto
Hamilton
Brampton
St. Catharines
Pon Colborne
Llstowel
Goderich
Winnipeg
Calgary
Edmonton
Vancouver •
•
We have examined the financial statements of the Township of Kinloss
for the year ended December 31, 1978. Out examination, was made in ac'cor,
dance with generally accepted auditing standards and accordingly includtd
such tests and other•procedures as we eorisidered necessary in the circumstances.
In 'our opinion, these financial statements,preseitt fairly the financial
position of, the Township of Kinloss as, at December 31, 1978 and the results- of .
its operations fox the year then ended in accordance with accounting prin-
ciples generally accepted. for Ontario Municipalities applied on a basis
consistent with that of the preceding year.
7',
Listowel,•Ontario,
March 13, 1979,'
LICENSE NO. 836
•
'C HART ERED..A000IfNTANTS
'.
Statement of Revenue
::,and •Expenditure
for the year ended December31: 1978
1978
Budget
Accumulated: net revenue tdeficitl at
the beginning of the.year
Expenditures and transfers
•
Municipal expenditures
'General govern.ment'•
Protection -lo persons and, property •
Transportation services
Environmental • services
Health services
Social'andfamily services •
• Recreation, and cultural.seivicey
Planning and'development
Other °
Total:expenditure .
'Transfers '
'Transfers to reg.ion,or•county
Transfers to school boards •
• .Total transfers
Total expenditures and transfers'
,Revenue by•purpose
Municipal purposes
Taxation '
Payments in lieu of taxes
Ontario grants
' Other grants
Fees .and. service charges.
.Other _
Revenue t8 pay for **pal ripal purposes,
Region or coupty retluisi.tion •
• Taxation .
• Paymcntsin 1ieu..of taxes
•.Ontarin..grants •
Other
(1,249)
61;0'00
. 25,100
, 208',224
4,000
12,000
17,600
19,721
347,045,
.35, 557,
102,274"
137.,831
44S4,876 :
107,'995
' • 2'25
.209,310:
. 18,146 •
12','506
Revenue to pay the region rir county'reyuixitinn
School board requisition ',
Taxation
Payments in lieu of taxes
Other '
Revenue to pay the school board. requisition . .
Total revenue,
Accumulated net .revenue (deficit) at
the end of the year
Analysed as follows;
General revenue
Region or county
School boards -.
Special charges
Special areas •
Local boards
Municipal enterprises
'348,182
23,493 ;
50 ..
11,955
35,498
:102,431
., 180.
.102,611
486,291
•166
166
166.
1978
Actual
S
(1,249).'
53,.4'34
26,85k.
229,508
2,792
14,447
11,432
19,510 '
357,.977:
35;746
1.0.3,138 _
138,884..
'.496,861'
109,220
419
209,280
12;193
23,251
4,919
359;.2'82
23, 78.3
77
11,953
.35,813
103,622
103,622
498,717
• 607
168
126 •
313
607
1977
Actual.
s
63,.6291
11,143.•
. 199,669
3,504
8,207
10;604
• )7,177'
3'13;933 ,
38,913 • ,,
'97,752
134,665
450;598 ..
103,558
222
'188,836
• 3,231•
. .18,859 •
5,31.6 '
320,022
29,383
• 50.
9,439
38:;8•72 •
97,767
' 179
97,946
456,840
(1,249)
(1;249)
•
1
Statement of Capital 'Operations
for the year ended December 31, 1978
Unfinanced capital outlay ([Unexpended capital
financing) at the beginning of the year
Capital expenditure.
General government
Protection to persons and property
Transportation services
Environmental services
Health services
Social arid family services
.'Recreation and cultural services
Manning and. development
Other
Total expenditure
Capital financing
•
Contributions from the revenue fund
Contributions from reserve, funds,
and reserves
Long term liabilities incurred.
Ontario grants
Other ;
Total capital financing .
Unfinaneed capital outlay (Unexpended
capita;. in acing) at the end of the year •
aSSets •
Current assets
.raxes'rtceiyahle,
Accounts receivable:
Other current asset's
'Capital outlay to he recovered in
future years '
Other long.tcrni assets '
1978
Actual
$
29,441
178,798
'4,905
. 34,600
219,314 _
100,896
34.,600
3,334
141480, _
153 310
95,445_^
Balance Shee
liabilities
Current liabilities.
'I'enlptttitry loads ' •�
i\cunultS payable and Itc crucd.•h abilities
()ther current liabilities
Nct Iring tern' liabilities
Reserves and reserve funds
Accumulated net'revenuc (deficit) and
unapplied capital receipts
as at. December 31, 1978
1978 ..
s
•
41,865;
•:
46,'915
'2,918
97',372 '..
'218,221'
218,221
• 31.5,593
87,.953
38,257
126,210
122,776
66,000
607
189,3813
315,593
1977
Actual
$
61,838
469
48,903
1,000
3Q,40'0
80;772`" • '
29,673
30,400 • ..
1'8, 008
35;088
- 113,169'__
. 7' I , 441
1977
,14,795,,
[(.5,857
522 . .
99,715
129,875
'129,875'
229,590.
57,841
22,564
80,405
100,434 '
50,000
(1,2'49)
149,185
229,590
Y