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A Financial Statement & Auditor's Report, 1965 The Reeve, Councillors and Ratepayers Township of Reach: We have audited the books and accounts of the Township of Reach for the year ended December 31, 1965 and have prepared the attached financial statements and supporting schedules in accordance with regulations pre- scribed by the Department of Municipal Affairs. AUDITOR'S OPINION We hereby report that in our opinion: 1. The financial transactions which have come under our notice have been within the powers of the municipality. 2. The audit has been conducted in accordance with the instructions of the Department of Municipal Affairs. 3. The financial statements present fairly the financial position of the municipality as at December 31, 1965 and the results of its operations for the year ended on that date. GENERAL COMMENTS ! Revenue Fund Operations for the year resulted in a surplus of $10,719.85 after taking into revenue $6,430.66 of prior years' surplus and after providing $1,706.00 for the allowance for uncollectible taxes. The accumulated surplus at December 31, 1965 of $12,421.85 should be taken into consideration in the 1966 budget, in accordance with Section 297 (2) of the Municipal Act. School Area Board At December 31, 1965 this board had an accumulated surplus of $56,540.27. In accordance with Section 74(1)(b) of the Public Schools Act, this accumulated surplus should be taken into consideration when preparing the 1966 budget estimates of the school board. : DELOITTE, PLENDER, HASKINS & SELLS March 23, 1966. Auditors. Licence No. 2761 Date of Filing: April 2, 1966 CAPITAL AND LOAN FUND BALANCE SHEET December 31, 1965 ASSETS Gener] Fixed .ooormmonmmmmmmmmmmmmssmisinsssrsianeasise $109,300.67 Due from School Ratepayers (for Debentures) Public and Continuation ............creevieecienninieninnn, $138,135.17 Collegiate and High 112,828.99 250,964.16 Debentures Assumed by Other Municipalities ............ 2,164.83 $362,429.66 LIABILITIES Schools Public and Continuation .......cccrnnrnnneecvinnrnsnsesnrnnen $140,300.00 $140,300.00 TOTAL 140,300.00 Debentures Assumed from Other Municipalities ........ 112,828.99 Investment in Capital Assets ...ccccoovinieniieviiineenineninnns 109,300.67 $362,429.66 REVENUE FUND BALANCE SHEET December 31, 1965 ASSETS Cash in Bank ...ovincninnccnnnndd Freres dhe rdbasveiriirann dS EA ad KEE $ 17,767.64 --_--§ 1,767.64 Accounts Receivable SUNRATY conminamminstnmintanmmn as 1,010.52 Province of Ontario ......ccmieeveinieiiinennasnnesnninson, 15,478.12 School BOArds ....cccceeeeerrereierieinnseensssessesseensessessessessonns 18.62 Taxes Receivable 650,718.08 Less Allowance for uncollectible taxes ........c..coo 31,366.61 --_-- 19,367.57 TOL] ASSCLE rrercmnissonicimisnssinisvmiis rT $ 43,627.37 LIABILITIES Temporary LOANS ....ccoviiiiniiiinieeecsissesessssssssssssnsenes $ 17,000.00 ts Payable yr" oe Ee Apr gare err sans esaase sin a SII ATR 706.02 Debenture and Coupons Due Principal cooeooieinicniic iiss TREBTESL vinicvcminsumsi ars A SEI TE SAR meres 2,488.60 Other Municipalities ......coiiiicenen. 5,806.59 Deferred Revenue ........cccccevneen, Jaurresunnnversanonsaed Riis EA SH 32.09 Refundable deposits ............ oe Adability for tax sale ; Liability for tax Trig SULFPIUS fortresses sss sts sss Total Liabilities and Surplus ........covimininnn. $ 43,627.37 TOWNSHIP OF REACH REVENUE FUND SURPLUS ACCOUNT December 31; 1965 Debit Credit Balance Balance at January 1, 1965 .....ccccccoreervennnn. $8,132.66 Deficit included in Current Budget .............. $6,430.66 $ 1,702.00 * Balance after above adjustments ............. 1,702.00 Surplus for the year .....cococovevevvveveevreevrennnn 10,719.85 Totals of Debit and Credit columns ................ $6,430.66 $18,852.51 Balance of Surplus at December 31, 1965 .... $12,421.86 STATEMENT OF REVENUE AND EXPENDITURE For the year ended December 31, 1965 REVENUE Actual Budget. . Total Revenue from Taxation ................ er $279,013.10 $278,533.48 Long-Term Debt Charges Recoverable ........ 484.42 Contributions, Grants and Subsidies Governments: Ontario-- Welfare Assistance ......... Highway Improvement Payments in lieu of municipal taxes 89.65 Unconditional Per Capita Grants .... 9,699.90 . Other -- Winter Works .....ccoeevennnss 1,568.06 -------- 65,032.08 67,000.00 Other Municipalities-- ' Relief ovine eerste esses . 718.40 Ontario-- ; H.E.P.C. Grant in Lieu of taxes .... 21.60 Licenses and Permits .....c....ccoeeeevneennrineensens 1,681.00 1,600.00 Interest, Tax Penalties, ete. ....coorveeirernenn. 5,865.98 2,600.00 Other Revenues-- Rents, Concessions and Franchises .... 48.00 Miscellaneous-- Deferred revenue adjustment ............ 2,061.42 Revenue from roads ......... aiistrereere . 2,161.98 Tax sale costs recovered .................. --- 218.24 Taxes charged back ...cooovevierervernnnn. 145.65 SUNALY ooo -- 165.80 / 4743.09 4,700.00 Gross Total Revenue ......c.ccocvvveeriveeerrnnnninnns 357,607.67 354,333.43 Surplus from Prior Years used to reduce levy ........uu....... ---- 6,430.66 6,430.60 364,038.33 360,764.09 Total Revenue Section .......cccoeveevevennnnn, $364,038.33 $360,764.09 EXPENDITURE Actual Budget General Government . Executive and Legislative .................. $ 1,705.30 Administrative we. 14,239.35 Other ooo eis 2,192.32 re $18,136.97 $16,275.00 Protection to Persons and Property i Street Lighting .....coeourvnnn. Livestock killed by dogs Warble F1y ...ccceveeeiieieeeeeeerenenn, 4,470.95. 5,700.00 Public Works--Roads, . Highways and Streets, ete. .............. 81,679.53" 81,600.00 Sanitation and Waste Removal 1,429.70 1,500.00 Conservation of Health .............. 643.00 350.00 Social Welfare Welfare Assistance ........... risers crepes nned 4,041.54 5,810.00 Education, including debt charges ............ 157,702.16 166,940.37 Recreation and Community Services ........ 600.00 760.00 Debt Charges Long-term debt charges ...................... 50,494.74 Less own share of school debt charges 50,010.32 484.42 Short-term interest and other charges 1,513.37 Discount for Taxes pi am Taxes written off .....o..oeeeveecrerevennrosososin 182.10 760.00 Capital Expenditures out of Revenue ........ 13,767.33 14,594.00 Joint or Special Expenditures County Rates .....cvcieversevnnennn, 62,150.96 Conservation authority ................ccooooo.. 50.00 62,200.96 61,638.72 Miscellaneous Committee of adjustment 228.76 Planning board ..........co.c.......... 6507.78 Weed control .....ccooevivveeveennssi 76.00 812.63 6,200. Provison for Allowances, Reserves 0.00 and Reserve Funds ......cccoooovvvvivevii, 1,706.00 1,706.00 Gross Total Expenditure ........................... 353,318.48 360,764.09 , 363,318.48 360,764.09 Surplus for the Year .o.c.ooooecvvvevvor, 10,719.85 Total Expenditure Section ........cooovvvvvvini., $364,038.33 $360,764.09 TER vada os vara