The Goderich Signal-Star, 1985-05-22, Page 25AUDITOR'S REPORT:
To the Members of Council, Inhabitants,
and Ratepayers of the Corporation of
the Town of Goderich
We have examined the consolidated balance sheet of the Corporation of
the Town of Goderich as at December 31, 1984, 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 Town of Goderich as at December
31, 1984, 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.
Goderich, Ontario
February 15, 1985
Licence No. 1008
CHARTERED ACCO
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 services
Planning and development
Ontario Home Renewal Program
Capital
Pollution control plant expansion
Roadways
Parks and recreation
Storm sewer system
Airport
Library
Industrial land
Other
Total funds expended for the year
Net appropriatio,ps to reserves and
reserve funds (note 9)
MUNICIPAL FUND BALANCES - END OF YEAR
To be used to offset taxati-on 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
790,0.12 806,522 767,427
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
33,331 4,000 339,908'
353,300 388,138 315,013
186,550 213,493 288,369
142,100 128,915 170,421
1,500 6,366 154,386
22,50(1 23,564 46,00.5
12,500 12,511
32,851 40,535 68,676
786,632 817522 '1,36'3048
4,386,843 4,168,629 4,510,842
219,000 331,375 . 380,129
214,869 235,651
(3,330) (43,596)
211,539 192,055
84,405,84' ;',711,543 55,083,026
COSPORATION OF THE
TOWN OF GOI)ERICH
1984 FINANCIAL
HIGHLIGHTS
(For the year ended December 31st, 1984 )
TRUST FUNDS: • FOR THE YEAR ENDED DECEMBER 31, 1984.
D
Total
Cemetery
Perpetuity
Fund
Robert MacKay Charles Blake Goderich Maitland
Cemetery Fund Park Fund Public Cemetery
Library .Perpetual Care
Balance - beginning of year
Balance - end of year
$139,271.00
$144,521.00
$45,950.00
$45,971.00
$9,182.00
$4,209.00
$1,489.00
$1,663.00
$6,031.00 $76,619.00
$6,553.00 $81,125.00
CONSOLIDATED
BALANCE SHEFpT
AS AT DECEMBER 31st,1984
ASSETS
UNRESTRICTED
Cash
Investments (note 5)
Taxes receivable
User Oharges receivable
Accounts receivable
Other current assets
RESTRICTED (note 9)
Cash
Investments (note 5)
Accounts receivable
Long term receivables - O.H.R.P. loans
Capital outlay .financed by long term liabilities
and to he recovered in future years
•
LI A S 1 1. 1 r
pny3b1., and accrued l i abr l i t i es
thi r c.rrrent liabilities
Net long term liabilities (note 7)
M.
FUND
To he used to ottset taxation or
user charges in 1985 (note 8)
Capital operations not yet
financed (note 8)
"Reserves -note 9)
Reserve funds (note 9)
BALANCES
permanently
APPROVED 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 31490
1,368,046 1,256,304
199,832
46,80U
264
117,326
157,273
381,884
4,006
'135,458
787,222 678 621
368,505 47 1 , 541
52,521-,773
27,893 73,921
205,550 336,066
368,505 471,541
574,055
807,607
214,869 2:15,651
(3,330) (43,596)
952,467 728,183
785,712 678,b21
$2,523,773 $2,406,466
RESERVES AND
RESERVE FUNDS:
The total balance of reserves and reserve funds of $1,738,179 (1983
$1,406,804) is made up of the following:
Set aside for specific purpose by Council:
For working capi 4a1
For sick leave
For contingencies
For roads capital expenditure
For fire capital expenditure
For waterfront capital expenditures
For airport capital expenditures
For business improvement area
For other
Set aside for specific purposes by
legislation, regulations or agreement:
For pollution control plant
Fo,r pension contingency
For loans under the Ontario Home Renewal Plan
For capital expenditure - roads
'For subdivision improvements.
For recreational land
For .capital expenditure - recreation
lncrease for the year
1984
1983
450,000 $ 450,000
243,891 244,551
-145,000 _. -
27,000 -
2'3,164 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 1,755
785,712678,621
r
$,1,738,179 $1,406,804
$ 331,375 $ 380,129
RATES OF TAXATION:
1.984
1983
Elementary School Rate
Secondary School Rate'
General Rate
County Rate
Consolidated Public
School Rate
Separate School Rate
Secondary School Rate
General Rate
Ccunty Fate
Consolidated Separate
School Rate
Elementary School Rate
Secondary School Rate
General Rate
County Rate
Consolidated Public
School Rate
Separate Sphool Rate
Secondary School Rate
General Rate
County Rate
Consolidated Separate
School Rate
Residential Ccmmet ci;ll
& Farm (Mills) (Mills)
81.01
66.14
123.48
32.37
303.00
81.15
66.14
123.48
.92.37,.
303.14
95.30
77.81
145.27
38.08
356.46
••••••••••90.9.099•100
_ .099.0
95.47
77.81
145.27
38 •. 08
356.61
Residential Ccwnercial
& Farm (Mills)' (Mills)
77.59
63.39
122.59
28.71
292.28
76.20
63.39'
422.59
28.71
91.28
74.57
144.23
33.77
343.85
89.65
74.57
144.23
33.77
290.89 342.22
J
NOTES:
1. OPERATIONS OF SCHOOL BOARDS AND THE COUNTY OF HURON
The taxation, other revenues, expenditures ,and overlevies (underlevies) of the school boards
and the County of Huron are comprised of the following:
School Boards County
$2,008,183, $441,727
2,009,434 440,948
(Underlevies) Overlevies for the year (1,251) 779
Overlevies - beginning of year 2,901 132
Overlevies - end of year
Taxation
Requisitions
$1,650 $911
These revenues and expenditures are pot reflected in the "Consolidated Statement of Operations".
The overlevies at the end of the year are reported as other liabilities on the'"Consolidated
Balance Sheet".
2. The 1984 financial 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
Goderidh Municipal Electric Utility,
Goderich Land Fill 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.