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= a Sa NC x CH wy. Re ad rn 6 -- PORT PERRY STAR, THURSDAY, APRIL 380th, 1964 AUDITOR'S REPORT April 2, 1964 The Reeve, Councillors and Ratepayers, Township of Reach, Manchester, Ontario. Ladies and Gentlemen: We have audited the books and accounts of the Township of Reach for the year ended December 31, 1963 and have prepared the attached financial statements and supporting schedules in accordance with regulations prescribed by the Department of Municipal Affairs. REVENUE FUND Operations for the year resulted in a surplus of $15,083.85 after taking into revenue $3,700.00 of prior years' surplus and after pro- viding $750.00 for the allowance for uncollectible taxes. The accumu- lated surplus at December 31, 1963 amounted to $25,799.51. Section 297 (2) of the Municipal Act requires that any surplus of prior years, which will be available during the current year, be taken into con- sideration in the budget estimates, In order to comply with the above section of the Municipal Act and also to help strengthen the financial position of the Municipality, we recommend that an amount of approxmately $15,000.00 of prior years' surplus be taken into the 1964 budget estimates as revenue and that a similar amount be in- cluded in the budgeted expenditures as provision for reserve for working funds. - SCHOOL AREA BOARD At December 31, 1963 this board had an accumulated surplus of $26,958.86. In accordance with section 74 (1) (b) of the Public Schools Act, this accumulated surplus should be taken into considera- tion when preparing the 1964 budget estimates of the school board. We hereby report that in our opinion: 1. The financial transactions which have come under our notice have been within the powers of the municipality. 2. The audit has been conducted in accordance with the instructions of the Department of Municipal Affairs, 3. The financial statements present fairly the financial position of the municipality as at December 31, 1963 and the results of its operation for the year ended on that date. We appreciate the courtesy and co-operation extended to us by your officials during the course of our audit. Respectfully submitted, ' ' / MONTEITH, MONTEITH, RIEHL & CO. Chartered Accountants. License No. 2511 Date of Filing: April 15, 1964 CAPITAL AND LOAN FUND BALANCE SHEET December 31st, 1963 ; ASSETS General Fixed (as per Schedule 18) ............ $ 92,896.59 Due from Schools (for Debentures) Public and Continuation TT I oo J 84,691.37 "Collegiate and High inn vee. 149,707.60 : - 234,398.97 Due from Other Municipalities (For Debentures Assumed--=Sch. 2) .... 1,608.63 $328,904.19 - LIABILITIES J Schools-- x : Public and Continuation ..........inn. $ 86,300.00 - y A CL -- $ 86, 300.00 Total 86,300.00 .Due to Other. Municipalities £08 . ER ON (For Debentures Assumed--Sch, 2) bo : 149,707.60 Investment in Capital Assets .......cnieii 92,896.59 $328,904.19 REVENUE FUND BALANCE SHEET December 81st, 1963 ; ASSETS Cash in Bank .........simiiinin TIANA $ 8,464.36 Jon ------ 8,454.36 Accounts Receivable Sundry . To natin sith sneriesiket Lersrisebseeiy ' 645.50 | ---- 645.60 Due from Province of Ontario .........sne: 13,772.60 Due from Other Municipalities ........cuiiviiinns 22.47 Due from Schools .....c..cviimiennns srdirsiipnise sii 18.52 Taxes Receivable (Schedule BY dni wins 44,166.84 Less Allowance for uncollectible taxes (Schedule 8) .....imimiiiiiin 12,860.00. : to 81,806.84 i "Total "ABBE iii aE $64,220.29 =e ~ Corporation of the Township of Reach Financial Statement & Auditor's Report, 1963 LIABILITIES Temporary Loans (Schedule 6) in $20,000.00 Accounts Payable .........cuiiiiiion. 535.566 Debentures and Coupons Due Principal ooo $ 700.00 TNEEYESE eves iirrereierereeresieeisnrre sss ae sissies ssa sess 379.50 1,079.50 Due from Other Municipalities ....c.cocoiininnne 176.42 Other Liabilities Deferred Revenue (Schedule 8) cocci 1,603.02 Refundable deposits ......c.veeiiniiiinnns thves 4,550.00 Tax sale premium cen. 576.28 6,629.30 Surplus (Form C) cnn. fosesrans 25,799.51 TotakgLiabilities and Surplus cine. $54,220.29 REVENUE FUND SURPLUS (DEFICIT) ACCOUNT December 31st, 1963 Balance at beginning of year .... $14,415.66 Surplus or deficit included in : Debit Credit Balance Current Budget. .....cccocvviverinnnne $3,700.00 $10,715.66 Balance after above adjustments 10,715.66 Surplus or Deficit for the year .. 15,083.85 Totals of Debit & Credit columns $3,700.00 $29,499.51 Balance of Surplus or Deficit at year end (Form B) ..... . -- ~~ $26,799.51 STATEMENT OF REVENUE AND EXPENDITURE For the year ended December 31, 1963 REVENUE Actual Budget Total Revenue from Taxation (Sch. 3) ........ $267,117.66 $266,716.65 Long-Term Debt Charges ¥ : Recoverable (Schedule 12) ......cccceinneeinnee 346.52 Contributions, Grants and Subsidies Governments: Ontario-- Children's Protection ............ $ 1,659.78 Direct Relief .......... prereasetrttessre 2,016.58" Highway Improvement ....... 39,154.82 Payments in lieu of municipal taxes .......cocne 98.35 Unconditional Per Capita ; Grants .....oceeererecnenesenenns vee 9,699.90 . Winter Works .....ccevvneennnns 1,367.83 --_-- 53,987.26 52,545.00 Other Municipalities : : Relief ..covvivvernveinneeinninsnniivnnin 205.23 --_-- 205.23 Government Enterprises: 'Ontario-- : H.E.P.C. -- grant in : \ Hei of CURRE Jue mnin + 15.86 A 15.86 Licenses and Permits (include dog tax) ... 1,686.00 1,550.00 Interest, Tax Penalties, etc. ............ Shamim on 4,111.62 2,100.00 Other Revenues-- Rents, Concessions and Franchises iii. 80.00 a re 80.00 50.00 Miscellaneous--Sundry .......cccoeee 97.49 : ; i : Ee --_-- 97.49 800.00 Gross Total Revenue ........escisenionsenees 327,647.64 823,261.55 Surplus from Prior Years oe used: to reduce levy ......... sess Sasviasns 3,700.00 3,700.00 331,347.64 326,961.66 Total Revenue Section ummm EI $331,347.64 $326,961.55 "EXPENDITURE : Actual Budget General Government--. Executive and Legislative....$ 1,677.70 Administrative ....... Phat 9,514.68 HORM iii sisi binvinsetiatonna dried 2,680.22 ny --_-- $13,772.65 $ 14,950.00 Protection to Persons & Property y Fire: Lil eisai ees 2,548.29 Street Lighting ... fn 1,024.24 Sheep killed by dogs ........ 645.75 Warble fly cima 197.74 (Continved on page 7) ~ 441602 6,000.00