Y' FREE P Corporation of thé Town of Whitby FINANCIAL REPORT 19.78 AUDIOR'S REPORT T'ôothe Members of Council, Inhabitants and Ratepayers, of the Corporation ,of the Town of Whitby: We have exaniined the following combined financial statements of the Corporation' of the Town ofWhitby, its Library Board and the Groveside Cenieter Board as at December 3l-1ýi978 and for the year.then ended: V Statement of Revenue and Expenditure Statement of Capital Operations' Balance Sheet- Our examination was made in accordance with gxenerally accepted auditing standards, and accordingly included such tests and other procedures as we, considered necessary ini the circumstances. In our opinion, these combined financial statements present fairly the financial position of the Corporation of the Town of Whitby, its Library.Board and the Groveside Cemetery Board as at December 31, 1978 and $he resuits of its operations for the year then ended in accordance with accounting principles egnerally accepted for Ontario municipalities applied ona basis consistenit with thaï of the precedig year. 'Unlfinanccd capital, cutla), (Unexpended capital financing),I, the bcginning of the year Capital expendituire Gcerdil governm'en t >Protection t'o. person*s nd, property Transportation services Environmcntal servilces I-Ieaith servicesý Social andfamily services Recrearion and cultural services Planning-and development Ocher Total expendîture Deloitte Hask.irs &S-li1s' Chartered Accountants, Oshawa, Ontario April,24, 1979 Licence No. 715 Date Fi-led: June 6, 1979. Capital financing Contributions from therevenue funid Contributions fromr rserve funds and reser'es Long term liabilitiesincurred Ontario grants. Other Total capital financing. Statementof Revenue & Expendue for the year ended-Dec. 31, 78. A~cctintilaied net revenue (deflcit) ai the bcgînning of the Vear Expenditures and transfers Municipal expenditures Gencral govcrnnient * Protection to persons and properiy * Transportation services Enviroilmenîal services l-calth services Social and fanily services Recreation and cultural services Planning and developrnent Qiher, Total, expenditure Tra nsfers Transfers to region or.county Transfers to school boards Total transfers Totalexpenditures and transfers Revenue by purpose. Municipal purposes * Taxation Payments in lieu of taxes Ontario grants Other grants Fees and servicecharges Other Revenue to pay for municipal purposes Region or county requisition Taxation Paymnents in lieu of taxes Ontario grants Other Revenue to pay the region or county requisition Schiool board requisition Taxation Payments in lieu of taxes Other Revenue Io pay the school board requisition Total revenue Accurnulatc!d net revenue (deficit) at the end of the year Analysed as follows: General revcnue Region or county Scîtool boards Special charges Special areas Local bourds Municipal centerprises 1978 1978 Budget Actuai 26,467 306,810- 813,955 * 1,112,938 * 1,809,093 * 467,337 * 49,489 * 59,150o 1, 381, 354 * 247,,150 *5,940,466 * 2,035,578, * 6,809,938 *12,7510,404 4','224,287 * 155,250ý * 790,512 * 466,949ý * 325,415 3 ,962,413 * 1,893,332 > 21,000 * 72,832 * 1,987,164 * 4,752,360 ' 22,000 4,774,360 *12,723,937 NIL * 884,7 04 *1,136,205 *1,903,121 * 485,002 * 33,117 64,897 *1,439,712 211,350 *6,158,108, 29026,860 4,873,620 6,900,480 13,058,588 4,296,971 * 178,915 * 733,468 502,256 * 530i775 6,242,385 1,919,669 23,599 72,832 2,016»,100 *4,803,641 24,018 4,827,659 13,086,144 334,366 * 184,162 * 19,492 11,576 (7,792) 14,260 334,366 1977 Actual * 152,641" * 758, 972 *1,023,716 *1,576,531 * 370,143 * 35,350 * 55,276 *1,400,646 * 265,259 *5,485,893 i ,925',850 *4,402,647 *6,327,897 . 11,613,790 *3,681,546 * 124 076 * 817,773 * -5,156 * 46,628 < 411$255 *5,586,434 *1,774,027 * 23,484 * 130,559 . 1,928,070 *4,427,025 * 19,430 -4,446,455 11,960,959 306,810 25.460 194,922 65,452 Un financed capital outlay (Une'xpended capital financing) at the end of the year (Note' 6) BALANCE SHEET as at December 31, 1978. Assets Current assets Cash a nd tex-m1 deposits Investments (market value $1,100,000) 'Taxes receivable Accdounts receivable Other current assets Capital.outlay to bc reccvcred in future years (Note' 2> Other long, îerm ass ets Liabilities Current liabilities Temporary lbans Accounts payable and accrued iabilities Other current liabîlities Net long term liabilities (Note 4) Reserves and reserve funds Accumulated net revenue of $334,366 (1977- $306,810) and unapplied capital receipts cf $88,500 (1977- $20,799) 6,347 8,173 6,456 The accompanying not es are an- integral part of the se financialý statemen ts, Statment of .Capital Operations. for. the year ended Dec. 31, 78. 1978 Actual - S * 591,482, 108,*480- 126,783 3,867,156 654,868 1,138,297 149,218 644 ,802 1977 Actuai 431,343 138,997 13,166 2,185,690 312:,385 1, 56& 376,709 5Î,135 3,085,650- 625,814 450,158 -1,512,097 1,680,145 6,320,739 313,881 *1,030,358 * 205,000 *1,044,321 331,951 2,925,511 315 ,545 591,482 1977 2,416,906 117,000 626,072 966,006 > 111,832 4,237,816 *4,756,683 593,063 - 625,000 * 423,819 23,494I1 -4,084,402 -4ý,1-03,238 327,609 9,587,562' - 662,746 * 964,914 1,627.660- *4,235,443 * 422,866 12,253,888 NIL 306,810