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the HERALD T11E HERALD Jane THE CORPORATION OF THE TOWN OF HALTON HILLS FINANCIAL REPORT GENERAL INFORMATION 1 The Financial Report consolidates the operations assets and liabilities of the Town Holton Hills Library Board Georgetown Central Business Improvement Area and the Acton Business Improvement Area The Halton Hills Hydro- Electric Commission has not been consolidated n the Financial Report Tin financial information presented has been extracted the Financial Report of the Town as audited by the firm of Goebeile Alexander Char tered Accountants Copies of the audited Report are available at the Finance for any resident who wishes to review or analyze the financial operations of the Town in greater detail MESSAGE FROM THE MAYOR TO THE RATEPAYERS OF HALTON HILLS On behalf of Council I am pleosed to present the Financial Report for the Town Halton Hills The current recession placed a great deal of pressure on the 1990 budget Projected revenues relating building permits and subdivision agreements were well below the budgeted amounts Steps were taken to reduce expen ditures in other areas to help offset the reduced revenue and we are pleased to report that on overall budget surplus was achieved Some of the highlights from the Towns financial operation In 1990 are set out below The yearend surplus for general Town purposes amounted to The Town reserves and reserve funds amounted to as of December 31 1990 The majority of these funds have been allocated for future capital projects and other specific purposes During 1990capltol purchases and projects with gross expenditures amounting to were undertaken or completed Protects Included construction of roads storm sewers and drainage works purchase of vehicles and equipment for the Public Works and Fire Department acquisition of land for the new Area Fire Station as well as renovation and improvement to various recreational and park facilities Your Council and Staff will continue to strive to provide the desired level of service in the most fiscally responsible manner possible RESIDENTIAL NO FARM COMMERCIAL INDUSTRIAL a BUSINESS 1990 1989 GENERAL SERVICES Town Helton Hills 7485 Region Halton Education Public Separate Elementary Secondary Total General Services 30755 8806 10164 38182 10222 URBAN AREA CHARGES Crossing QuardsGarbage and Street Lighting TOTAL 2364 TAX DOLLAR THIS IS WHERE YOUR TAX DOLLAR WAS SPENT CONSOLIDATED STATEMENTOF OPERATIONS FOR THE YEAR ENDED DECEMBER 31 1 with comparative figures for 1989 SOURCES OF FINANCING Taxation and user charges Residential and farm taxation Commercial Industrial and business taxation Taxation from other governments User charges Grants Government Canada Province of Ontario Other municipalities Other Contributions from developers Investment income Sale of fixed assets Other Donations Deduct Amounts received or receivable for Region and school boards Net appropriations from reserves and reserve funds MUNICIPAL FUND BALANCES AT THE BEGINNING OF THE YEAR To be used to offset taxation or user charges Unexpended capital financing Total financing available during the year 25012131 20641995 7857072 390820 1644 2872717 309021 454X9 306495 349471 1414796 APPLIED TO Current operations General government Protection to persons and property Transportation services Environmental services Health services Social and family services Recreation and cultural services Planning and development Capital General government Protection to persons ant property Transportation services Environmental services Health services Recreation and cultural services Planning and development Net appropriations to reserves and reserve funds MUNICIPAL FUND BALANCES AT THE END OF To be used to offset taxation or user charges Unexpended capital financing 2730235 1833080 2461786 31050 3779645 1608980 31470 3319224 3384950 THE YEAR 34917 531812 37153 2805394 Total applications during the year CONSOLIDATED BALANCE SHEET AS AT DECEMBER 1990 1989 Unrestricted ASSETS Cash Snortterm Investments 1453205 2489411 Taxes receivable 1427012 Accounts receivable 1303960 Other current assets Longterm receivables Restricted Cash Shortterm Investments 3387577 3174000 Accounts receivable 3226267 Capital outlay financed by longterm liabilities and be recovered In future years 3124632 LIABILITIES 11819127 Accounts payable and accrued liabilities 1423077 Other current liabilities 561427 1984504 2015853 Net longterm liabilities Fund balances at the end of the year To be used to offset taxation or user charges In 1990 349917 Unexpended capital financing 385080 349471 Reserves 2887949 3070233 Reserve funds 7023494 3226267 11619127 12022714 1990 Population at the end of year Area In acres at the end year Number of households Full Time Town Employees 36478 69350 11857 TAXABLE ASSESSMENT Residential and arm Commercial and industrial Business Payment In lieu 1344244 1432776 Total Tax arrears per capita 41 percentage of current levy Outstanding Town Debt Per CapHa Debt Annual Debt Costs Trust Funds a 3 80 642475 474337 51 645396 446125 REVENUE FUND BALANCES General reduction Increase of taxation General revenue Library Special Areas Special Urban Areas Special Lighting Areas Business Improvement Areas Total Estimated No Population Figures Available 100000 17373 10195 10369 22497 236456