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THE May 8 IM1 Page 1990 FINANCIAL REPORT CHAIRMANS MESSAGE It Is my pleasure to present to you the Financial Report for the Regional Municipality of Halton The current recession has had an Immediate impact on Halton In 1990 total building per mlts declined for the first time since However building permits for commercialIn dustrial properties remained at levels We believe this Is an indication that business has retained Its confidence In our community Another example of the recessions impact on Halton can be seen In the significant Increase in the number of Halton residents requiring financial assistance through the General Welfare program In addition to this the Regions budget was under significant pressure due largely to the responsibilities passed down to the Region by senior levels of government These were among the challenges that Regional Council had to address In 1990 while serving the residents of Attention focused on managing orderly growth such as the Urban Structure Review the Official Plan Review Waterfront Parks development and the expansion of Haltons Profit Housing Program Significant attention was directed to waste management Including the final approval for Haltons landfill site and the Investigation of waste diversion alter natives such as the growth of Blue Box recycling program Throughout 1990 the Corporate Planning Team prepared the first draft of the Corporate Plan which will identify strategic Initiatives for Halton In order to provide the desired level of service to meet present and future needs Hatton must continue to manage its finances in a responsible manner Continued fiscal strength will enable to deal with the costs of growth while preserving Its financial flexibility In planning for the future Regional Council and staff continue to strive for World Class stan dards while maintaining a community lifestyle of which residents can continue to be proud Peter D Pomeroy Chairman Halton Region CONSOLIDATED STATEMENT OF OPERATIONS Dollars in Thousands CAME FROM 1990 Property taxes Ontario grants 51846 Water billings Wastewater surcharge 21424 Solid waste disposal fees Halton Centennial Manor resident fees 3156 Contributions from developers investment Income 13162 Long term debt issued 1419 Other revenue WAS SPENT FOR CURRENT OPERATING EXPENSES General government Protection to persons and property 33358 Roadways 3299 Environmental services Water system Wastewater system Waste management Health services Social and family services 22194 Social and fajnily services Recreation cultural and planning services 17462 14750 31353 8406 203572 28908 15975 19 17234 Recreation and cultural services Planning and development 2437 FOR CAPITAL PROJECTS UNDERTAKEN General government 15644 1710 Protection to persons and property Roadways 5126 Environmental services Water system Wastewater system 5319 33206 Waste management Health services 1200 94868 51409 TOTAL EXPENDITURE Net increase decrease In municipal equity Current operations surplus Capital operations Reserves and reserve funds 2701 16107 5738 Municipal equity at the beginning of year Municipal equity at the end of year 24546 TO PROVIDE Council and general administration Police protection and grants to Halton Credit Valley and Grand River Conservation Authorities Repairsmaintenance of roads and traffic signals Water treatment and distribution Sewage collection and treatment Disposal of residential and Industrial non hazardous solid waste Health education nutrition community dentistry environmental health and community nursing Operation of the Halton Centennial Manor social assistance assistance and grants to social service agencies Operation of Museum grants to tourism organizations Developing the official plan Industrial residential and business development grants to agricultural organizations Construction of Regional and Police administration headquarters Police Division 1 expansion Conservation Authorities Road reconstruction traffic signalizatton Prospect Park Water Treatment Plant Mid Halton Water Pollution Control Plant Landfill site acquisition costs Constructionrenovations at area hospitals Halton Centennial Manor Regional Child Care Centre renovations Property acquisition for Waterfront Parks NET COST OF REGIONAL SERVICES TO AVERAGE REGIONAL TAXPAYER AND UTILITY RATEPAYER includaa planning and development Halton Rational Museum and tourism grants Based on a property assessed at 6850 and water con sumption of 325ubic metresyear STATISTICAL INFORMATION Building permits Issued Thousands Residential Commercial and Industrial General welfare assistance Issuances Purchased child care spaces Places In Home for the Aged Waste recycled metric tonnes Wastewater treated thojsnntK of cubic metre Water production thousflndsof cubic metres Debt per capita Debt chargestotal expenditure Police calls for service responded to Attendance at Region Museum Drug and Alcohol Prevention Group attendance Sexuality Education Group attendance ASSETS cash and short term investments Accounts receivable Other current assets Capital outlay to be recovered In future years LIABILITIES Accounts payable and accrued I labilities Net long term liabilities MUNICIPAL EQUITY Net unexpended capital financing Reserves Reserve funds OTHER INFORMATION 1 These financial highlights reflect the assets and liabilities revenues and expenditures of the current and capital operations and reserves and reserve funds of Halton Its utilities and the Halton Regional Police Services Trust funds of the Halton Centennial Manor amounting to which are administered by Halton have not been includ ed In addition some programs which are fully funded by the Pro eg Home Care have not been included The following commitments and contractual obligations are not reflected In the above financial position Dollars in thousands 4157 20409 1755 17396 54842 102698 12500 10884 6468 7868 POSITION Dollars In Thousands i 22970 2462 52596 180612 29991 52596 85744 26191 33667 21674 57536 94868 operating leases capita operations current operations vested sick leave benefits past service provisions of pension agreements Halton is committed to finance future expenditures of from the reserves and reserve funds Copies of the Consolidated Financial Statements audited by Peat Thorne from which these highlights were extracted are available from the Regional Finance Department upon re quest JOSEPH LRINALDO Commissioner of Finance and Regional Treasurer 1151 Bronte Road Oakville Ontario