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THE HERALD Wednesday June Page THE CORPORATION OF THE TOWN OF HILLS FINANCIAL REPORT GENERAL- INFORMATION The 1988 Financial Report consolidates the operations assets and liabilities of the Town Halton Hills Library Board Georgetown Central Business Improvement Area and the Acton Business Improvement Area The Hills HydroElectric Commission has not been con solidated in the Financial Report The financial information presented has been ex from the Financial Report of the Town as audited by the firm of Alexander Chartered Accountants Copies of the 1988 audited Financial Report are available at the Finance Office for any resident who wishes to review or analyze he financial operations of the Town in greater detail MESSAGE FROM THE MAYOR TO THE RATEPAYERS OF HALTON HILLS On behalf of Council I am pleased to provide some of the highlights for the Town of Hills financial operations for The yearend surplus for general Town purposes amounted to The Towns reserves and reserve funds amounted to 757 as of December 311988 This represents an increase of over The majority of these funds have been allocated for future capital projects and other specific pur poses During capital purchases and projects with gross expenditures amounting to 7235 587 were undertaken Projects included the purchase of office equip ment the municipal civic centre fire equipment road construction storm sewer public works vehicles Activan transit vehicle and various improvements in parks and recreational facilities Russell T Miller Mayor MILL RATES- 1987 GENERAL SERVICES Residential Commercial and Farm and Industrial Residential ommercial and Farm and Industrial Town of Halton Hills Region of Halton Education Public Separate Elementary Secondary URBAN AREA CHARGES 63 43 02 79 19 10 42 15 83 70 71 75 61 Crossing Guards Garbage and Street Lighting 17 01 14 TOTAL 24138 TAX DOLLAR- DISTRIRUTION THIS IS WHERE YOUR TAX COLLAR WAS SPENT CONSOLIDATED STATEMENT OF OPERATIONS SOURCES OF FINANCING Taxation and user charges Residential and farm taxation Commercial industrial and business taxation Taxation from other governments User charges Grants Government of Canada Province of Ontario Other municipalities Other Contributions from developers Investment income Sale of fixed assets Other Deduct Amounts received or receivable for Region and school boards Proceeds from the issue of long term liabilities Net appropriations from reserves and reserve funds MUNICIPAL FUND BALANCES BEGINNING OF THE YEAR To be used to offset taxation or user charges Unexpended capital financing Total financing available during the year FOR THE YEAR ENDED DECEMBER 31 1 98B with comparative figures for 1987 179 SI 6 629 HI 731 1 360 28 796443 189 910 168 I 2m 280 16 124 4 168 1 4b3 APPLIED TO Current operations General gov Protection to persons and proper Transportation sen ices Em ironmental ices Healthsenices Social and services Recreation and cultural ser Planning and development Capital General government Protection to persons and Transportation sen ices En ironmental sen ices Health sen ices Recreation and cultural sen ices Planning and Net appropriations to reveries and reserve funds ML BALANCES AT THE END OF THE EAR To be used to offset taxation capital financing Total applications during the war CONSOLIDATED BALANCE SHEET AS AT DECEMBER 1988 Unrestricted Cash Short term investments 2 Taxes receivable 1 810 Accounts receivable 471 962 Other current assets lit 193 Long term receivables 106 401 1 2 170 Restricted Cash 10 Short term investments 1 Accounts receivable 1680808 Capital outlay financed bv long term liabilities and lo be recovered in future vears J IK 1 lKH Current Accounts payable and accrued liabilities 802 1077 Other current liabilities 617 Net long term liabilities 1420185 427 Fund balances at thevear To be used offset taxation or user charges in 19R 64 Unexpended capital financing Reserves 2 Reserve funds 1 fi8tt 5 453 4UU1 10931 S 581 1 958 44 499 871 2 234 798 032 128 105 32 718 J 417 2 to 99 91 67 436 133 42T 1 672 113 8082 3000 228 148 124 1 414 4 168 20 16 STATISTICAL DATA isms 1987 Population at the end of the year Number of Households Full Time Town Employees 139 126 Area in Acres Taxable Assessment Residential and Farm Commercial and Industrial 13518242 13319201 Business 6171960 Payment in Lieu 1356288 1368078 Total 91347237 Tax Arrears per Capita Tax arrears of Tax Levy Outstanding Town Debt 3427314 Per Capita Debt Annual Debt Costs 103 97 Trust Funds 416445 Revenue Fund Balances General reduction of General revenue Library 10601 Special Areas Special Urban Areas 30763 22418 Special Lighting Areas 194 Business Improvement Areas TOTAL 124364 ESTIMATED mm