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PAGE 16, WEDNESDAY, JULY 9, 1980, WHITBY FREE PRESS I Corporation of the Town of Whitby FINANCIAL REPORT AUDITOR'S REPORT To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Town of Whitby: We have examined the following combined financial statements, including supporting schedules, of the Corporation of the Town of Whitby, its Library Board and the Groveside Cemetery Board as at December 31, 1979 and for the year then ended: Statement of Revenue and Expenditure Statement of Capital Operations Balance Sheet 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 combined financial statements present fairly the financial position of the Corporation of the Town of Whitby, its Library Board and the Groveside Cemetery Board as at December 31, 1979 and the results of their operations for the year then ended in accordance with accounting principles generally accepted for Ontario municipalities applied on a basis consistent with that of the preceding year. Oshawa, Ontaro March 26, 1980 Licence No. 990 Deloitte Ilaskins & Sells Chartered Accountants Date Filed: June 20, 1980 1979 Statement of Capital Operations for the year ended December 31, 1979 1979 1 Actual A Unfinanced capital outlay (Unexpended capital financing) at the beginning of the year Capital expenditure Gencral government Protection to persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning 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 315,545 . 57,558 . 56,106 . 3,486,265 . 458,126 6,769 . 703,594 . 783,082 5,551,500 638,821 3,305,0741 960,917 95586,59 5,860, 4o5 978 ctual 591,482 1o8,480 126,783 3,867,156 654,868 1,138,297 149,218 6,,02 625,814 2,052,525 450,158 1,512,097 6,320,739 Statement of Revenue & Expenditure for the year ended Dec. 31, 1979 1979 Budget s Accumulated net revenue (deficit) at the beginning of the year Expenditures and transfers (Notes 3 and 5) Municipal expenditures General government Protection to persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning and development Other Total expenditure Transfers Transfers to region or county Transfers to school boards Total transfers Total expenditures and transfers Revenue by purpose (Note 3) Municipal purposes Taxation Payments in lieu of taxes Ontario grants Other grants Fces and service charges Other Revenue to pay for municipal purposes Region or county requisition Taxation Payments in lieu of taxes Ontario grants Other Revenue to pay the region or county requisition 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 ,Business Improvement Area 51,785 857,309 . 1,351,021 . 1,982,825 . 350,200 . 49,005 . 77,341 . 1,464,823 . 303,632 . 6,4k6 56 . 2,289,791 .5, 44o,179 . 7,729,970 .14,166,126 . 4,421,030 183,850 775,395 603,826 471,800 . 6,455,901 . 2,180,066 . 24,100 36,416 . 2.240,582 . 5,390,758 . 27,100 .5 5417,858 1979 Actual s . 334,366 . 941,001 . 1,339,376 . 1,981,160 . 491,011 . 36,588 . 85,403 . 1,615,536 . 301,559 . 6,791O,34 . 2,444,974 . 5,656.166 . 8,10,,140o . 14,892,774 . 4,637,280 . 203,841 . 809,570 * 7,267 607,825 611,542 . 62877,325_ . 2,272,707 . 26,122 . 36,416 • 81,034 . 5,620,418 . 34,674 .5,655,092 .14,948,696 390,288 191,810 155,467 18,418 6,717 (5,493) 13,969 9,400 390,288 Unfinanced capital outlay (Unexpended capital financing) at the end of the year 1978 Actual . 306,810 . 884,704 . 1,136,205 . 1,903,121 . 403,086 . 33,117 . 64,897 . 1,439,712 . 211,350 .6.0-76.192 . 2,108,776 . 4,873,620 . 6,982,396 . 13,058,588 . 4,215,055 . 178,915 . 733,468 502,256 . 530,775 . 6,160,469 315,545 BALANCE SHEET as at December 31, 1979 ASSIETS Current assets Cash and term deposits Investments (Market Value -$1,106,000) Taxes receivable Accounts receivable Other current assets Capital outlay to be recovered in future years Note 2) Other long term assets 1979 Actual . 1,249,676 1,106,000 . 790,591 • 1,740,410 . 307,425 5,194,102 4,294,912 832,486 10,321,500 1978 Actual s . 1,970,909 1,100,000 . 696,453 . 2,849,390 . 293,199 6,909,951 4,686,488 657,449 -12,253,888 2,001, 585 23,599 72,832 LIABILITIES . 4,803,641 . 24,018 4,827,659 13,086,144 334,366 112,668 184,162 19,492 11,576 (7,792) 14,260 334,366 Current liabilities Temporary loans Accounts payable and accrued liabilities Other current liabilities Net long term liabilities (Note 4) Reserves and reserve funds (1978 Accumulated net revenue (deficit) hIx of $390,288 $334, 366) t unapplied capital receipts of $374,169 (1978 - $88,500) - 125,000 . 886,758 52,560 1,064,318 . 3,893,103 . 4,599,622 764,457 10. 321, 500 The accompanying notes are an integrai part of tisfinancual statement. . 662,746 . 964,914 1,627,660 . 4,235,443 . 5,967,919 422,866 12, 253,.888 cont'd... 6,640 D.P..e, , Sâo.