Zurich Citizens News, 1974-03-14, Page 10PAGE 10
ZURICH CITIZENS NEW
T1'IURSDAX, MARCH 14
- .UDITOR'S REPORT - 1973
1'O: The Members of Council, and Ratepayers of the Corporation of the
Township of Hay
1 have examined the 1973 financial statements of the Corporation of
the Township of (lay and its local boards, which are listed on the
attached Index. My examination included a general review of the
accounting; procedures and such tests J1' accounting records and other
supporting evidence as I considered necessary in the circumstances.
In my opinion these financial statements present fairly the financ-
ial position of the Corporation of the Township of Hay and its local
hoards as at December 31st, 1973, and the results of their operations
for the year then ended, in aocordance with accounting principles
generally accepted for Ontario municipalities applied on a basis
consistent with that of the preceding year.
Godc:rieh,'Ont.ario
February 7, 197.1
Licence Number 444[)
STATEMENT OF REVENUE AND EXPENDITURE
for the year ended December 31, 1973
Accumulated net revenue (deficit) at
the beginning of the year
EXPENDITURE
General government
Protection to persons and property
Transportation services
Environmental services
Conservation of health
Social and family services
Recreation and community services
Community planning and development
Financial expenses
Region or county - share of expenditure
Education
Other
REVENUE
Taxation
Contributions from other governments
Other
Accumulated net revenue (deficit) at
the end of the year
Analysed as follows:
General revenue
A.M. harper
Of the total, charges shown above, an amount of $45,029
was paid from the general revenues of the municipality and
is included in expenditure, classified under the appropriate
headings. An amount of $43,82" was recovered from clay Munici
pal Telephone System for which the related not long term
liability was 2neurt'ed.
2. BASIS OF CONSOLIDATION
The Consolidated Balance Sheet reflects the assets and liabilit-
ies of the revenue fund, the capital fund and all reserve funds
of the municipality. 'Trust fund assets administered by the
municipality amounting to $396 and the assets and liabilities
of the local boards have not been consolidated.
3. NET LONG TERM LIABILITIES
Total long term liabilities incurred by the municipality
and outstanding at the end of the year amount to
Of the long term liabilities shown above, the'respon-
sibility for payment of principal and interest charges
has been assumed by the Huron County Board of Education
for a principal amount of 251,878
Net long term liabilities at the end of the your 613,284
865,162
4. CAPITAL OUTLAY '1'0 BE RECOVERED IN FUTURE YEARS
Some capital outlay does not represent a burden on general
1973 1972 municipal revenues, as it is to be recovered in future years
$ $ from other sources,
(2,.26) (6,322) Special charges on benefiting landowners 296,784
Municipal enterprises 316,500
613,284
1,996 23,473 =
' 12,262 11,755
175,978 178,047 ANALYSIS OF REVENUE
5,247 6,212 for the year ended December 31, 1973
56
105 95 1973 1973 1972
986 466 Budget Budget Budget
1,105 509 $ $ $
808 643 Taxation
82,279 84,401 Realty -Residential and farm 337,843 326,353
185,666 170,800 -Commercial and industrial 16,192 16,265
7,459 3,430 354,169 354,035 342,618
493,947 4'9,831 Business 4,893 6,155
.. 354,169 358,928 348,773
Contributions from other governments
Ontario _700 691 666
358,928 348,773 -__-_700 ____6J1 666
___
83,836 83,037 Subsidies -Ontario -General
57,892. 52,017 Per capita 9,783 9,783 9,783
SUl1,6Si; .1S ,817 Resource equalisation grant 5,800 5,649
incentive program 1,650
Specific -
4,.383 (2,326) Roadway's 68,000 67,713 70,869
=='_:______T General welfare assistance 69
85,583 S3 145 82,37f
4,383 (2,326) 84,283 83,8366 83,057
4,383 (2,326
STATEMENT OF CAPITAL FUND OPERA'T'IONS
for the year ended December 31, 1973
llnfinanced capital outlay (Unexpended capital
financing) at the beginning of the year 767 1,330
CAPITAL OUTLAY
Protection to persons and property
Transportation services
transfers to others
CAPITAL FINANCING
Long term liabilities incurred
Contributions from the revenue fund
Other
llnfinanced capital outlay (Unexpended
capital financing) at the end of the year
CONSOLIDATED BALANCE SHEET
as at December 31, 1973
ASSETS
Cash
Accounts receivable
Taxes receivable
Other current assets
Capital outlay to be recovered
in future years
LIABILITIES
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities
Net long term liabilities
Reserves and reserve funds
Accumulated net revenue (deficit)
and unapplied capital receipts
NOTES TO FINANCIAL STATEMENTS
1. CHARGES FOR NET LONG TERM LIABILITIES
Total charges for the year for net long term
liabilities were as follows:
Principal payments
Interest
94,500
94,500
44,500
376
94,876
1,71.0
12,547
46,500
,T757
46,500
14,257
563
61,320
391 767
107,620
43,967
48,296
199,883
49,392
86,417
60,193
16
196,018
Other revenue
Licenses and permits
Rents, concessions and franchises
Penalties and interest on taxes
Tile drainage
Provision for deferred revenue
Discount on county rates
Sale of gravel, logs, rte.
Sundry
Total Revenue
2,350 2,609232
1,000 1,114 1,006
6,000 5,579 6,545
15,029 45,029 40,591
18
1 ,200 1,251 1,196
2,2.31
, 1,000 79 429
56,579 57,892 52,017
495,031 500,656 483,827
ANALYSIS OF EXPENDITURE?
for the year ended December 31, 1973
General Government
Members of council
General administration
Unclassified
Protection to persons and property
Fire 4,500 5,337 5,272
Protective inspections 75 130 71
Street lighting 21
Unclassified 6,684 6,795 6,391
11,259 12,262 11,755
Transportation services
Roadways 133,400 127•,863 134,476
Drainage 3,086 2,980
Unclassified 45,029 45,029 40,591
178,429 175,978 178,047
4,0(10
19,000
500
3,818
18,178
3,818
18,435
1,220
23,500 21,996 23,473
Environmental services
Garbage collection and disposal
612,893 578,033 Social and family services
Unclassified
812,776 774,051
22,675
67,066
4,633
94,374
613,284
100,735
4,383
812,776
39,112
57,915
97,027
578,800
100,550
(2,326)
774,051
60,016
28,840
$ 88,856
8,500
8,500
105
105
5,247
5,247
56
56
105
105
Recreation and community services
Parks and recreation 700 986
700 986
6,212
6,212
95
95
466
466
Community planning and development
Planning and zoning 773 1'89
Industrial development 300 332 320
300 1,105 509
Financial expenses
Unclassified 1,000 808 ,643
1,000 808 643
Region or county - share of expenditure 84,135 82,279 84,401
Education
Elementary - public 83,051 84,737 76,528
- separate 21,016 21,395 19,530
- secondary 77,980 79,534 74,742
182,052 185,666 170,800
Other
Police village of Dashwood 2,742 2,809 3,430
Provision for deferred revenue 4,650
2,742 7,459 3,430
Total expenditure 492,722 493,947 479,831
D
II 0
SCUSS1011 ling
ible locations for industry,
vacant lots and proposed areas
for growth,
cubic yards of gravel on the
106 miles of township roadway
at cost of $1.40 per cubic
Development Co., which still
owns property at Vanastra.
Requests for building permits
Members of council will
yard.
were approved for James D.
Tuckersmith council discus-
Tuesday.
study the plans and draw up
Approval was given a bylaw
McGregor, R.R,2, Kippen,
sed zoning for Egmondville
Mr. Murdock had detailed
their own proposals for the area.
to close and sell for $1.00
starter barn for hogs and for
with Brian Murdock'of the
maps of the hamlet indicating
Sandy Contracting Co., of
sixth avenue located west of
a finishing barn for cattle,
Huron County Planning depart-
ment at its regular session last t
the locations of residences,
business establishments, poss-
Goderich was awarded the tend-
er to truck and spread 18, 000
tenth street of registered plan
23. Vanastra to the Vanastra
David Brock R,R,2, Kippen,
hog barn.
- .UDITOR'S REPORT - 1973
1'O: The Members of Council, and Ratepayers of the Corporation of the
Township of Hay
1 have examined the 1973 financial statements of the Corporation of
the Township of (lay and its local boards, which are listed on the
attached Index. My examination included a general review of the
accounting; procedures and such tests J1' accounting records and other
supporting evidence as I considered necessary in the circumstances.
In my opinion these financial statements present fairly the financ-
ial position of the Corporation of the Township of Hay and its local
hoards as at December 31st, 1973, and the results of their operations
for the year then ended, in aocordance with accounting principles
generally accepted for Ontario municipalities applied on a basis
consistent with that of the preceding year.
Godc:rieh,'Ont.ario
February 7, 197.1
Licence Number 444[)
STATEMENT OF REVENUE AND EXPENDITURE
for the year ended December 31, 1973
Accumulated net revenue (deficit) at
the beginning of the year
EXPENDITURE
General government
Protection to persons and property
Transportation services
Environmental services
Conservation of health
Social and family services
Recreation and community services
Community planning and development
Financial expenses
Region or county - share of expenditure
Education
Other
REVENUE
Taxation
Contributions from other governments
Other
Accumulated net revenue (deficit) at
the end of the year
Analysed as follows:
General revenue
A.M. harper
Of the total, charges shown above, an amount of $45,029
was paid from the general revenues of the municipality and
is included in expenditure, classified under the appropriate
headings. An amount of $43,82" was recovered from clay Munici
pal Telephone System for which the related not long term
liability was 2neurt'ed.
2. BASIS OF CONSOLIDATION
The Consolidated Balance Sheet reflects the assets and liabilit-
ies of the revenue fund, the capital fund and all reserve funds
of the municipality. 'Trust fund assets administered by the
municipality amounting to $396 and the assets and liabilities
of the local boards have not been consolidated.
3. NET LONG TERM LIABILITIES
Total long term liabilities incurred by the municipality
and outstanding at the end of the year amount to
Of the long term liabilities shown above, the'respon-
sibility for payment of principal and interest charges
has been assumed by the Huron County Board of Education
for a principal amount of 251,878
Net long term liabilities at the end of the your 613,284
865,162
4. CAPITAL OUTLAY '1'0 BE RECOVERED IN FUTURE YEARS
Some capital outlay does not represent a burden on general
1973 1972 municipal revenues, as it is to be recovered in future years
$ $ from other sources,
(2,.26) (6,322) Special charges on benefiting landowners 296,784
Municipal enterprises 316,500
613,284
1,996 23,473 =
' 12,262 11,755
175,978 178,047 ANALYSIS OF REVENUE
5,247 6,212 for the year ended December 31, 1973
56
105 95 1973 1973 1972
986 466 Budget Budget Budget
1,105 509 $ $ $
808 643 Taxation
82,279 84,401 Realty -Residential and farm 337,843 326,353
185,666 170,800 -Commercial and industrial 16,192 16,265
7,459 3,430 354,169 354,035 342,618
493,947 4'9,831 Business 4,893 6,155
.. 354,169 358,928 348,773
Contributions from other governments
Ontario _700 691 666
358,928 348,773 -__-_700 ____6J1 666
___
83,836 83,037 Subsidies -Ontario -General
57,892. 52,017 Per capita 9,783 9,783 9,783
SUl1,6Si; .1S ,817 Resource equalisation grant 5,800 5,649
incentive program 1,650
Specific -
4,.383 (2,326) Roadway's 68,000 67,713 70,869
=='_:______T General welfare assistance 69
85,583 S3 145 82,37f
4,383 (2,326) 84,283 83,8366 83,057
4,383 (2,326
STATEMENT OF CAPITAL FUND OPERA'T'IONS
for the year ended December 31, 1973
llnfinanced capital outlay (Unexpended capital
financing) at the beginning of the year 767 1,330
CAPITAL OUTLAY
Protection to persons and property
Transportation services
transfers to others
CAPITAL FINANCING
Long term liabilities incurred
Contributions from the revenue fund
Other
llnfinanced capital outlay (Unexpended
capital financing) at the end of the year
CONSOLIDATED BALANCE SHEET
as at December 31, 1973
ASSETS
Cash
Accounts receivable
Taxes receivable
Other current assets
Capital outlay to be recovered
in future years
LIABILITIES
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities
Net long term liabilities
Reserves and reserve funds
Accumulated net revenue (deficit)
and unapplied capital receipts
NOTES TO FINANCIAL STATEMENTS
1. CHARGES FOR NET LONG TERM LIABILITIES
Total charges for the year for net long term
liabilities were as follows:
Principal payments
Interest
94,500
94,500
44,500
376
94,876
1,71.0
12,547
46,500
,T757
46,500
14,257
563
61,320
391 767
107,620
43,967
48,296
199,883
49,392
86,417
60,193
16
196,018
Other revenue
Licenses and permits
Rents, concessions and franchises
Penalties and interest on taxes
Tile drainage
Provision for deferred revenue
Discount on county rates
Sale of gravel, logs, rte.
Sundry
Total Revenue
2,350 2,609232
1,000 1,114 1,006
6,000 5,579 6,545
15,029 45,029 40,591
18
1 ,200 1,251 1,196
2,2.31
, 1,000 79 429
56,579 57,892 52,017
495,031 500,656 483,827
ANALYSIS OF EXPENDITURE?
for the year ended December 31, 1973
General Government
Members of council
General administration
Unclassified
Protection to persons and property
Fire 4,500 5,337 5,272
Protective inspections 75 130 71
Street lighting 21
Unclassified 6,684 6,795 6,391
11,259 12,262 11,755
Transportation services
Roadways 133,400 127•,863 134,476
Drainage 3,086 2,980
Unclassified 45,029 45,029 40,591
178,429 175,978 178,047
4,0(10
19,000
500
3,818
18,178
3,818
18,435
1,220
23,500 21,996 23,473
Environmental services
Garbage collection and disposal
612,893 578,033 Social and family services
Unclassified
812,776 774,051
22,675
67,066
4,633
94,374
613,284
100,735
4,383
812,776
39,112
57,915
97,027
578,800
100,550
(2,326)
774,051
60,016
28,840
$ 88,856
8,500
8,500
105
105
5,247
5,247
56
56
105
105
Recreation and community services
Parks and recreation 700 986
700 986
6,212
6,212
95
95
466
466
Community planning and development
Planning and zoning 773 1'89
Industrial development 300 332 320
300 1,105 509
Financial expenses
Unclassified 1,000 808 ,643
1,000 808 643
Region or county - share of expenditure 84,135 82,279 84,401
Education
Elementary - public 83,051 84,737 76,528
- separate 21,016 21,395 19,530
- secondary 77,980 79,534 74,742
182,052 185,666 170,800
Other
Police village of Dashwood 2,742 2,809 3,430
Provision for deferred revenue 4,650
2,742 7,459 3,430
Total expenditure 492,722 493,947 479,831