The Goderich Signal-Star, 1985-05-22, Page 24.1
AUDITOR'S REPORT:
To the Members of Council, Inhabitants,
and Ratepayers of the Corporation of
the Town of Goderich
We have examined the consolidated balance ,beet , the Corpc.r.+t ion o,
the Town of Goderich as at December 31, 1984, and :be consolidated stare:-ent
operations for the year then ended. Our examination uas m.ide in accordance with
generally accepted auditing standarls, and accordingly in:luded such tests and
other procedures as we considered ,.ecessary in the circumstances.
In our opinion, these consolidated financial stltemones present fairly
the financial position of the Corporation of the Town of ...derich as at December
31, 1984, and tpe results of its operations for the year then ended to accordance!
with the accounting principles prescribed for Ontario Municipalities applied on
a basis consistent with that of rhe preceding year.
Goderich, Ontario
February 15, 1985
Licence No. 1008•
CHARTERED ACCO TA:
v.
CONSOLIDATED
STATEMENT OF OPERATIONS
FOR THE YEAR ENDING DECEMBER 31, 1984
APPLIED TO:
Current Operations
General government
Protection to persons and property
Transportation -services
Environmental services
Health services
Social and family services
Recreation and cultural service;
Planning and development
Ontario Home Renewal Program
Capital
Pollution control plant expansion
Roadways
Parks and recreation
Storm'2wer system
Airport
Library
Industrial land
Other
Total funis expended for the year
Net appropriations to reserves and
reserve funds (note 9)
MUNICIPAL FUND BALANCES - END OF YEAR
To be used to offset taxation or user
charges (note 8)
(Capital operations not yet permanently
financed) (note 8)
TOTAL APPLICATIONS FOR THE YEAR
Budget Actual Actual
1984 1984 1983
$ 521,310 $ 370,452 $ 358,193
790,012 806,522 767,427
844,222 856,310 804,300
439,409 453,232 424,993
62,085 75,137 79,387
39,315 47,528 41,960
669,990 682,287 613,376
33,868 34,348 27,031
25,291 • 31,127
3,400,211 3,351,107 3,147,794
13,331 4,000 339,908
353,100 388,118 315,2.13
185,550 213,493 288,369
,1' 128,915 17U,421
6,366 15L,3•no
23,564 46,05
12,52 12,511 -
32,351 4,535 48,67
786,612 817,52,2 1,36,64
18",0-.3 4,168,629 4,516,342
219,07C1 331,375 380,129
214,869 235,651
(3,330) (43,596
213,539 192,055
54,405,841 5.,711,543 $5,083,026
CORPORATION OF THE
TOWN 1 F GODERICH
1984 FINANCIAL
HIGHLIGHTS
(For the year ended December 31st, 1984)
l
r
/F
TRUST FUNDS: FOR THE YEAR ENDED DECEMBER 31, 1984.
Total • Cemetery
Perpetuity
Fund
Robert MacKay Charles. Blake • Goderich Maitland
Cemetery Fund Park Fund Public Cemetery
Library petual Care
;Balance - beginning of year
Balance - end of year
AMMIliMMEMEMMIO
$139,271.00 $45,950.00
$144,521.00 $45,971.00
$9,182.00
$9,209.00
$11489.00
$1,663.00
$6,031.00 $76,619.00
$6,553.00 $81,125.00
CONSOLIDATED
BALANCE SHEET
AS AT DECEMBER 31st, 1984
ASSETS
11NRESTRIC"IED
Cash;
InJe$tments (note 5)
Taxes; receivable -
Usercharges receivable
Acco>nts receivable
Other current assets
'2ESTRICTEp (note 9)
Cash]
Investments (note 5)
Accounts receivable
Longi tern receivables - 0.H.R.P. loans
'Capital ,utlay financed by long term liabilities
;and to hej rc,.vered in. Curure years
,, 5
c3b1. and .i:cr--i,d, 111;11i
c ent iiabi'_iti »s
:et long term liabilities (note-%)
es
s
FU N D BALANCES
I �•
1To be used to offset taxation or
user charges in 1985 (note 8)
;Capital operations not yet permanently
11o;anced (note 8)
Reserve "f, note 9)
Reserve funds (note 9)
AP1'23VED BY COUNCIL
1984 1983
$ 835,111 $ .340,627
2,000 202,000
188,891 349,414
1,075 610
337,769 350,253
3,200 3,400
1,368,046 4,2.56,304
199,832 157,273
469,800 381,884
264 4,006
117,326 135,458
787,222 678,621
368,507, 471,541-
S21521,773 ,.i(;;, "h
22,893
71,921
2(5,551) 336,766
368 505 471 L5=1
574,055 807,67
214,869 235,651
2
(3,330) (43,595;
952,467 728,183
785,712 678,621
$2,523,773 $2,406,466
RESERVES AND
RESERVE FUNDS:
t
The total balance of reserves and reserve funds of $1,738,179 (1983 -
$1,406,804) is made up of the following: 1984 1983
Set aside for specific purpose by Council:
For working capital
For
For
For
For
For
For
For
For
sick leave
contingencies
roads capital expenditure
fire capital expenditure
waterfront capital expenditures
airport capital expenditure
business improvement area
other
Set aside for specific purposes by
legislation, regulations or agreement:
For pollution control plant
For pension contingency
For loans under the Ontario Home Renewal Plan
For capital expenditure --roads
For subdivision improvements
For recreational land
For capital expenditure - recreation
Increase for the year
S 450,000 $ 450,000
243,891 244,551
145,000 -
27,000 _ -
23,164 3,164
18,808 18,808
_15,000
12,000
17,604 11,660
952,467 728,183
434,987 367,565
166,818 152,084
122,779 145,017
44,869 1,413
7,248 4,602
6,782 6,185
2,229 1,75
785,712 678,621
$1,738,179 $1,406,804
$ 331,375 $ 380,129
RATES OF TAXATION:
1984
1983
Elementary School Rate
Secondary School Rate
General Rate
County Rate
Consolidated Public
School Rate
Separate School Rate
Secondary School Rate
General Rate
Ccunty Pate`
Consolidated Separate
School Rate
Elementary School Rate
Secondary School Rate
General Rate
County Rate
Consolidated Public
School Rate
Separate School Rate
Secondary School Rate
General Rate
County Rate
Consolidated Separate
School Rate
Residential Commercial
& Farm (Mills) (Mills)
81.01
66.14
123.48
32.37
95.30
77.81
145.27
38.08
303.00 356.46
81.15
66.14
123.48
•32.37
95.47
77.81
145.27
38 08
303.14 356.63
Residential
& Farm (Mills)
77.59
63.39
122.59
28.71
Commercial
(Mills)
91.28
74.57
144.23
33.77
292.28 343.85
76.20
63.39
122.59
28.71
89.65
74.57
144.23
33.77
290.89 342.22
s
NOTES:
1.
OPERATIONS OF SCHOOL BOARDS AND THE COUNTY OF HURON
The taxation, other revenues, expenditures and overlevies Cunderlevies) of the school boards
and the County of Huron are comprised of the following:
School Bdards County
Taxation $2,008,183 $441,727
Requisitions 2,009,434 440,948
(Underlevies) Overlevies for the year (1,251) P 779
Overlevies - beginning of year 2,901 132
Overlevies - end of year $1,650 $911
These revenues and expenditures are not reflected in the "Consolidated Statement of Operations".
The overlevies at :he end of the year are reported as other liabilities on the "Consolidated
Balance Sheet".
2. The 1984 financ.al report consolidates the operations, assets and liabilities of the Town and
its local boards and municipal enterprises as follows:
Maitland
Goderich
Goderich
Goderich
Goderich
Goderich
Goderich
Goderich
Goderich
Goderich
Goderich
Goderich
Cemetery Board
Recreation and Community Centre Board
Economic Development Committee
Tourist Promotion Committee
Architectural Conservation Advisory Committee
Parks Advisory Committee
Airport Committee
Municipal Day Nursery Committee
Planning Advisory Committee
Committee of Adjustment
Property Standards Committee
Business Improvement Area
3. The local boards, enterprises and other entities of the Town whose revenues and expenditures
have not been consolidated in the 1984 financial report are:
Goderich Waterworks
Goderich Municipal Electric Utility
Goderich Land Fal Site Committee
4. LIABILITY FOR VESTED SICK LEAVE BENEFITS AND PENSION BENEFITS
Under the sick leave benefit plan, unused sick leave can accumulate and employees may
become entitled to a cash payment when they leave the municipality's employment.
The liability -for these accumulated days, to the extent that they have vested and could
be taken in cash by an employee on terminating, amounted to $105,399 (1983 - $94,264)
at the end of the year.
At December 31, 1984, an amount of $243,891 (1983 - $244,551) has been provided for the
sick leave liability and $166,818 (1983 - $152,084) for the pension contingency and are
reported on the "Consolidated Balance Sheet" as reserves and reserve funds.
5. The above data has been extracted from the audited 1984 Consolidated Financial Report
of the Town and its local boards as described. Copies of the 1984 Consolidated Financial
Report and the auditors report thereon, or the audited financial statements for the local
boards, enterprises, and other entities not consolidated are available at the Town Offices
to any resident who wishes to review or analyse the financial operations.of the Town in
greater detail.