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

new 1978 FINANCIAL REPORT THE REGIONAL MUNICIPALITY OF HALTON A MESSAGE FROM THE REGIONAL CHAIRMAN The Region of Halton consisting of the fourarea of Burlington Halton Hills and Oakville provides major and essential services consisting of Industrial Development Police Water and Sewage Landfill Sites Health and Social Services Regional Planning and Regional Roads These services by their very nature are labour intensive and as such costly to provide Dunng we have continued to maintain a high level of service However recognizing the need to reduce costs and tax increases we have exercised control by not increasing our staff complement Whenever an opportunity presents itself you can be sure we use every available option to reduce costs At the same time Industrial Development to create jobs and increase assessment is a We welcome the opportunity of presenting Haltons financial statement and hope our residents will contact our office for any further clarification Sincerely Yours JN P Eng Regional chairman WHERE THE MONEY CAME FROM Previous Ontario Grants To offset specific services To offset general burden of Municipal Taxes Levies on Regional Municipality Tflxpflyerfl Direct Charges on Ratepayers Water Charges Sanity Sewer charges Other Revenue Resident Fees Home for the Aged Other Fees User Charges 78 BUDGET OF TOTAL ZA 77 ACTUAL 6792641 6231419 7400900 7467895 7303855 14236363 34 4 17308706 7 1598 4833500 1280700 4527060 4803900 6 3981570 g2 4207041 1295863 4177000 3675774 41240104 41476486 0 39173661 WHERE THE MONEY WAS SPENT 78 ACTUAL 77 ACTUAL 78 BUDGET Police Other Protection 9141100 9143868 9335459 Sanitary Sewers 6849550 6771611 5970760 Waterworks 5961250 5954536 5203750 Assistance to the Aged 3959400 3981393 3687599 Health Services 3498950 3496611 2990789 Social Services 3058100 3332448 2832956 Roadways 3170364 2965068 3268239 General Government 1999299 2111217 2035587 Conservation Authorities 1002900 1540427 1367937 Garbage Disposal 1128000 1069177 791846 Planning Development 612450 575277 605835 Recreation Cultural Services 114300 121780 100696 40495663 41063413 38191453 1 1978 FINANCIAL REPORT THE REGIONAL MUNICIPALITY OF HALTON Copies of the Financial Report audited by Wagner and Cheney Glenn are available from the Regional Treasurer for any resident who wishes to review the financial operation of the Region in greater detail D Farmer C A Regional Treasurer The Regional Municipality of Halton 1151 Bronte Road Oakville Ontario L6J6E1 SUMMARY OF CAPITAL FUND OPERATIONS 1976 General Government Regional Administration Building 1836600 396624 Protection to Persona Property Conservation Authority Police Vehfcles Communications Equipment Transportation Services Bridges Traffic Slgnallzation 1529186 2297977 Sanitary Sewer Systems Sewers Water Pollution Control Plants 14431 607 13239407 Waterworks System Water Filtration Plants 6837281 3 359042 Garbage Disposal Landfill Sites Leachate Facilities 379 Health Services Hospital Expansion Furniture Equipment 316 388 Social a FamHy Services Kitchen Renovation at Halton Centennial Manor 8350 23384 Other 27092603 Capital Expenditures at beginning of year 7162257 Total Capital Expenditures Sources Capital financing Transf era from the Revenue Fund 2599577 Transfers from the Reserve Fund 1774312 Debentures Issued during tho year 6457802 12647288 Grants to offset the cost or capital expenditures Ontario 3430926 Canada Other Financing Total Capital Financing 21781314 Capital Expenditures at end ot year 7567591 SELECTED YEAREND BALANCES mi Cash 1688715 Accounts Receivable Other Current Assets 912068 Temporary Loans Accounts Payable and Accrued Liabilities 3572060 Outstanding Long Term Debt 56608170 Reserves and Reserve Funds 5305609 Current Fund Surplus Accumulated Net Revenue 413073 982108 SUMMARY OF RE Opening Balance Revnue Expenditures Closing Balance 3STOTSO 1 870298 OTHER INFORMATION 1 These statements reflect the revenues expenditures assets and liabilities of the municipal activities of the Region and the following local boards and municipal enterprises Police Board Health Unit Halton Centennial Manor Waterworks Enterprise Trust funds administered by the municipality amounting to 743 have not been Included in the consolidated financial statements 3 Accumulated Current Fund Surplus of the year The balance In the revenue fund at the year end is available to reduce to be added the levies or user service charges of the following classes of ratepayers General Ratepayers Designated Ratepayers Sanitary Sewer Service Waterworks User Service Charges 357535 1977 The Region has a liability of approximately 41 under the terms of the vested sick leave plan An 71398hasbeenprovk1ed and Is reported within the balance sheet No further provision has been made for this