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Page THE HERALD June l79 THE CORPORATION OF THE TOWN OF HALTON HILLS FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31 1978 1 REVENUE FUND OPERATIONS Where I- Properly axes levied on residential and farm rale payers Property taxes levied on industrial and commercial Business taxes levied on industrial and commercial enterprises Federal and Proviricnt payments on land and buildings not I to normal properly taxation Grants received the Province of Ontario Grants received from Federal Govern F or licences and permits issued by the Township Penalty and Interest on Taxes I I ncom Service charges and other income Surplus funds available from previous year operations TOTAL REVENUES To Provide the Service General administration council legal and Fire prevention Building inspection and animal control Road maintenance winter control street lighting roadway improvimenl St sew ere disposal I opera lions Assistance to Aged Persons Port maintenance operations ai Libraries Planning and Adjustment official plan Requisitions of local business improvement areas of Region of requirement which represents of the overall Region requisition Our sha re of the requirements of the School boards within the Region TOTAL EXPENDITURES Surplus funds available Anal sis of Surplus Funds Town- General Special Areas Library Region Gem School Boards I if HI 75400 7W430 wwi Of 458 76 no CIO am 79 Tines ccivable 1m and her assets 183 121 129 Capital outlay to be recovered in 474 942 19 IB 106 10J 446 195 239 1 I I 751 4 457 1147B1GO 10 is 2 CAPITAL FUND Works I- rom Ministry of Transposition Communications Ministry of Cultured Municipalities Properly Taxes from Hi venue unit inns Resirvesi Reserve Funds Del lures Issued llninugei hi Donations and Previous car Capilal F Capital Financing Provided Capital Improvements I General Government Protection to Persons Property Transportation Services Equipment Purchases i ronmenla I Parks and Recreation Libraries Development Capital Monies upended 10 IT Mi 119 sal 762 1 431 4Ij 12 136 113 183 J07 361 14H38 1 I65O0 1J281 3 RESERVE AND RESERVE FUND OPERATIONS Balance the the year from revenue fund Contributions from developers Lot Levies Severance Feci Parkland Interest earned on investment 122 45255 Transfers lucapitil fund Optra Transfer of Region levies 234 YEAR END POSITION OF ASSETS AND LIABILITIES I labilities Accounts payable liabilities Total landing long term debt Less assumed by School Boards Region of If a I ton Amounts set aside for specific purposes Amounts to be applied against next year s tax levies and charges Amounts be led in financing future Capital spending 4 473 13 982 047 686 963 1B3 1I9 GENERAL NOTES The 197S Financial Report consolidates the operations assets and liabilities of Town and Library Board The enterprises of Town whose revenues and expenditures have not been in the 1978 Financial Report are Acton Hydro Electric Commis Georgetown Hydro Electric Commission The financial highlights presented have been basically extracted the audited inoncial Report of the Town as described in Note The terminology contained in the Fin uncial Report has been modified and expanded in order that you might appreciate more fully the nature of our operations ml Report are available from Town Treasurer for analyse the financial operations of the Town in greater Copies of the audited any resident who wishes to review detail The Capital Fund of the Town is used to record significant expenditures of municipality for land buildings structures and equipment For an expenditure to be classified as a capital expenditure the benefit from the expenditure should last more than The properly tax amounts received from the Revenue Fund on Schedule were raised by the Town Mill Rate This amounted to in J880 429 in 19771 Your has continued i us policy to reliance on debenture financing Tout port of long term liabilities as at December 31 iua to balance SI 95fl 14Hi long liabilities were as follows 1977 Principal pavmcnls J 189 584 Interest Of the total shown above 5B6 were paid from general municipal revei municipality and ore included in expenditure on Statement of under the functional headings The remaining J reiovircd from municipal enterprises for which the related net long term liabilities incurred reflected is Included in Net long term liabilities in currency and converted was incurred If the liability is converted vailing at the would purposes Schedule 4 is in amount of payable dollars at the rale prevailing when the liabil dollars at the exchange rale pre ten iscd from MB in 1977 to in The historical cosl and accumulated depreciation of fixed assets is not reported lor municipal purposes fixed asset reported is Capital outlay of the municipality not which is the lotil of the principal portion of unmatured long term and Ihe cost of capital projects not ycl permanently the amount of sinking funds accumulated to retire the debt Households Taxabli