The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

6B - PORT PERRY STAR - Tuesday, June 19, 1990 "2 The Corporation of the Township of Scugog | #1989 FINANCIAL HIGHLIGHT Ps eg tA. Mt, | MILL RATES CONSOLIDATED BALANCE SHEET DECEMBER 31, 1989 1989 1988 } Residential Commercial Residential Commercial ASSETS and Farm and Industrial and Fam and Industrial 1989 1988 | UNRESTRICTED | | General Municipal 103.497 121.761 93.864 110.429 | Regional 96.103 113.062 80.116 94.254 Cash $s -- ~ § 332,095 : Secondary Public School 118.401 139.295 99.918 117.551 Taxes receivable 1,427,993 1,073,918 Secondary Separate School 142.188 167.280 104.355 122.771 Accounts receivable 721,280 275,171 Elementary Public School 154.397 181.643 137.321 161.554 Other current assets 102,576 106,429 Elementary Separate School 131.346 154.525 132.565 155.959 2.251.849 1.787.613 RESTRICTED | CONSOLIDATED STATEMENT OF OPERATIONS Cash 633.362 558.110 $2,885,211 $2,345,723 YEAR ENDED DECEMBER 31, 1989 LIABILITIES Budget Actual Actual 1989 1989 1988 TEMPORARY LOANS $ 600,611 $ -- ACCOUNTS PAYABLE AND . SOURCES OF FINANCING Taxation and user charges ACCRUED LIABILITIES 522,297 353,469 Residential and farm taxation $2,983,567 $2,972,509 $2,457,004 I Commercial, industrial and business taxation 581,261 577.518 468,175 OTHER CURRENT LIABILITIES 367.196 429.836 | Taxation from other governments 94,090 99,394 89,611 1,490,104 783,305 ; User charges 628,127 663,550 693,900 CONTINGENT LOSS Grants Government of Canada -- 1,426 3,113 FUND BALANCES Province of Ontario 1,528,021 1,499,887 1,542,038 FUND BALANCES AT THE END OF THE YEAR Other (To be recovered from) or to be used 1 Penalties and interest on taxes 150,000 200,254 157,300 to offset taxation or user } | Contributions from developers -- 101,075 331,250 charges in 1990 (93,441) 222,049 : Investment income 135,349 220,170 202,559 Reserves 907,515 782,259 Sale of land and fixed assets -- 6,000 100 Reserve Funds 561,145 558,110 5 A Unexpended Capital Financing 19,888 -- ! 3 $2,885,211 $2,345,723 MUNICIPAL FUND BALANCES, BEGINNING OF YEAR i To be used to offset (or to be recovered from) : taxation or user charges 227,092 222,049 (76,198) : | Unapplied capital receipts -- -- 12,500 YEAR END POSITION OF : TOTAL FINANCING AVAILABLE DURING THE YEAR $6,327,507 6,563,832 $5,881,352 RESERVES AND RESERVE FUNDS | it } i 1989 1988 | $ $ { APPLIED TO 1 Current operations RESERVES: Ld General government $ 623,008 $ 644,246 $ 581,318 Working Capital 265,339 240,339 Protection to persons and property 546,134 548,185 475,521 Municipal Projects 550,419 452,011 | { Transportation services 1,756,846 1,721,817 1,698,899 Sick Leave 22,096 20,248 i { Environmental services 589,299 479,053 406,563 Inventory 69,661 69,661 Health Services 6,705 6,705 4,115 | ; . . . ' ' RESERVE FUNDS: : Social and family services 13017 24,950 8914 Lot Levies and Subdividers' Contributions 463,384 493768 | Recreational and cultural services 775,357 775,356 707,526 Recreational Land 97.761 64 342 Planning and development 86,464 120,278 88,946 ' ' ' FUNDS HELD IN TRUST: 257 4398830 4320190 3,971,802 Ds 57015 248.598 -- 1,725,675 1,688,927 ° | Capital General Government 77.400 116,483 20.625 | Protection to persons and property 227,453 90,213 163,887 | Transportation services 1,172,544 1,402,280 1,039,454 GENERAL NOTES: Health services 50,000 50,000 25,000 oo oo | Recreational and cultural services 131,780 112,460 782,905 1. In keeping with Provincial directive, the Township of Scugog statement | Planning and Development 250,000 417.468 -- reflects the operations, assets, liabilities, and equity of the Revenue Funds, | Reserve Funds and Capital Funds, consolidated with the respective -- -- Operations and Balance Sheets of the Corporation of the Township of _ Len, 127 3 2. 1 38.904 B 2,031 871 Scugog and its local Boards, The Township of Scugog Public Library Board and Port Perry Central District Business Improvement Board. NET APPROPRIATIONS TO (FROM) RESERVES 2 Th AND RESERVE FUNDS 19.500 128,291 (344,370) - The enterprise of the Township whose revenues and expenditures have I not been consolidated in the 1989 Financial Report is the Scugog Hydro- Electric Commission. MUNICIPAL FUND BALANCES, END OF YEAR 3. The data presented here has been extracted from financial statements To be used to offset (or to be recovered audited by Deloitte & Touche. Detailed financial statements and the from) taxation or user charges -- (93.441) 222,049 Auditors' Reports thereon for the Township of Scugog and its Boards, Unapplied capital receipts --- 19,888 = as well as the consolidated statements, are available in the Treasury Office. TOTAL APPLICATIONS DURING THE YEAR $6,327,507 $6,563,832 $5,881,352 KATHLEEN HARPER TREASURER TOWNSHIP OF SCUGOG