The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

ee ae el late i ces jh % ' STATEMENT OF CAPITAL OPERATIONS 1980 1979 (e) Municipal enterprises tua) \ for the year ended December 31. 1980 Actual ee Municipal enterprises are those activities whose costs are ; substantially recovered from service charges on the users, Unfinanced capital outlay (Unexpended capital ms financing) at the beginning of the year _ 427,908 Pr a (f) Charges for net long term liabilities Capital expendit P enue a Debt retirement costs including principal and interest are General government charged against current revenues in the periods in which they are paid. Protection to persons and property 33.617 Interest charges are not accrued for the periods from the dates of the e Transportation services 308.635 951. 335 latest interest payments to the end of the financial] year. % Environmental services : 382, 867 4 432, 188 « Health services 5 Ole a276 Ih. g (g) Trust Funds See ema uainuly pen ctes % Fi ie Trust funds administered by the icipalit ti t . ° : u 2 municipali amountin © Recreation and cultural services j 11,610 25,679 $184,370 fo SSE te Eh Bed ree ane ch me " SB' Planning and development 56.900 af C are only reflected in e Trus unds Statement o Jon tinui ty Other < and Balance Sheet. Total expenditure ; 22945956 709, 202 i ie A 2. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YVARS Contribuuons from the revenue fund 148.391 118,945 * (a) Some capital outlay to be recovered in future years does not Contributions from reserves ; ; anal fund represent a burden on general municipal revenues, as if is to be rccovercd H eg a ak el 38,610 | - = in future years from other sources: Long term liabilities incurred 1.356.900 | - 1980 1979 Ontario grants H ; i a Special charges on benefitting B95.921 162,379 Other PRS M OA A ie landowners | $ 582,568 $463,131. Total capital financing QTE TS 281, 2.94 Capital contribution to Huronia Unfinanced capital outlay (Unexpended é es District Hospital 1,266,000 - capital financing) at the end of the year 3969; ABE 427,908 $1,848,568 $463,133 i Tiny Township has entered into agreements with five surrounding The accompanying notes are an integral part municipalities and Huronia District Hospital under which the balance of this financial statement of the capital transfer to Huronia District Hospital of $1,266,000 Aasneipaliey will be recovered from the general revenues of the participating BALANCE SHEET - municipalities based on pro rata usage of the hospital facility by | residents of the participating municipalities. as at December 31, 1980 TOWNSHIP OF TINY ASSETS 3. RESERVE FUNDS During the year, $70,361 were credited directly to reserve funds chirrencasccre 1980 1979 without being recorded as revenues and expenditures of the Revenue Fund. Reaa 'Metiial Major sources were: $ $ Ontario Home Renewal Plan grant $ 40,000 Cash 232,112 82,803 Contributions from developers 17,625 Interest 40-736 Taxes receivable 661,962 569,454 "Dats allie i 70,361 Accounts receivable 238,994 191,906 Le a 4. NET LONG TERM LIABILITIES Other current assets 6,571. 8,226 d (a) The balance for net long tenn liabilities reported on the "Balance Sheet" is made up of the following: . 1,139,639 A Ba2389 5 Total long term liabilities incurred hy the Capital outlay to be recovered in : municipality including those incurred on future years 1,848,568 463,131 behalf of former school boards, outstanding ' at the end of the year amount to SI., 376,473 Other long term assets 133,063 : ~. ae Of the long term liabilities shown above, the responsibility for payment of principal and interest charges has been assumed by others for a principal amount of e 22,006 q LIABILITIES pee eos 518 A ¥ Net long term liabilities at the end of , the year $3 ,354,47 . Current liabilities }980 1979 ae Actual Actual (b) Included in net long term liabilities are debentures amounting Temporary loans 949 , 850 634, 763 to $1,266,000 issued to finance a capitai contribution to Huronia District ae sis wee Hospital by the Township of Tiny and five surrovnding municipalities. Accounts payable and accrued liabiliues 65 , 664 45,73) Tiny township and the surrounding municipalities have entered into agree- Heise eee tee es ments to share the cost of retiring these debentures according to Other current liabilities tS ee AY Taro annual usage of the hospital by residents of the participating municipalities, 7 U eens ee 5. ACCUMULATED NET REVENUE AT THE END OF THE YEAR 1 2b peepee S mea The balance in the revenue fund at the year end is available to reduce Net long term liabilities Wy aeaet3 anaes {to be added to) the levies of the following classes of ratepayers. Reserves and reserve funds 661,494 "419,773 1980 1979 Accumulated net revenue (deficit) and General ratepayers $(4,622) $ 303,670 unapplied capital receipts 97,789 BAITS: Designated ratepayers 55,387 22,540 Se ee fry eats oe et School board ratepayers (651) (1,168) 3,121,270 4,483,563 County ratepayers 3,569 yy Nriois ji $53,683 $ 349,573 The accompanying notes are an integral part of this financial statements. : 6. CHARGES FOR NET LONG. TERM LIABILITIES NOTES TO THE Municipality Total charges for the year for net long term liabilities were as FINANCIAL STATEMENTS Sees ey ee TOWNSHIP OF TINY 280 1272 Principal payments $ 37,649 $3,466 1. ACCOUNTING POLICIES Interest | 162,811 2,924 (a) Statement of Revenue and Expenditure $200,460 $6, 390 This statement reflects the revenues and expenditures of the ne zr fund and th i 1 boar? d icipal ent: ise: Pea tg cee eee ede Ot rar ees DOBT ear An. ans e par Ch erPrese Of the total charges shown above, $200,460 was paid from general municipal Township of Tiny Planning Board The Tiny Parks, Recreation and revenues of the municipality and are included in expenditure on the "State The Tiny, Public Library oes nemmcntes Geneees Gaitine ment of Revenue and Expenditure" classified under the appropriate functional Tiny Waterworks Department Tiny Committee of Adjustment hesgenes igs < S BENEFITS (b) Statement of Capital Operations 7 LIABILITY FOR VESTED SICK LEAVE BENEFIT: % This statement reflects the capital expenditures to be Under the sick leave benefit plan, unused sick leave can accumulate ¥ recovered from general municipal revenues of the municipality, its local and employees may become entitled to a cash payment when they Jeave the boards and municipal enterprise described in Note 1 (a). municipality's employment. The liability for these accumulated days, to the extent that they have (cy Balance. Sheet vested and could be taken in cash by an employee on terminating, amounted This statement reflects the assets and liabilities of the to $5,221 at the end of the year. No provision has been made for this revenue fund, capital fund, reserve funds, loca] boards and municipal liability. enterprise described in Note 1 (a). i Subsequent to the year end the sick icave benefit pian was terminated; é the vested benefits paid to eligible employees will he reflecied as a (d) Fixed assets j current expenditure in 1981. : The historical cost and accumulated depreciation of fixed assets is not reported for municipal purposes. Instead the "Capital 8. OTHER INFORMATION outlay to be recovered in future years" which is the aggregate of the principal portion of unmatured long term liabilities, capital funds _ The temporary borrowings of the municipality at December 31, 1960 of transferred to other organizations, and the cost of capital projects $410,000 exceeded the statutory limits provided by Section 332 (2) of the not yet permanently financed, is reported on the "Balance Sheet". Municipal Act. a] _