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HomeMy WebLinkAboutFinancial Statements 1995 OLei . d 97y THE VILLAGE OF VIENNA Financial Statements December 31, 1995 M a+l )9 /7 THE CORPORATION OF THE VILLAGE OF VIENNA Financial Statements Year Ended December 31, 1995 INDEX SECTION The Village of Vienna Consolidated Financial Statements 1 Financial Information Return 2 The Village of Vienna Unconsolidated Trust Fund 3 THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Financial Statements December 31, 1995 THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Financial Statements Year Ended December 31, 1995 Table of Contents PAGE Auditors' Report 1 Balance Sheet 2 Statement of Operations 3 - 4 Notes to the Financial Statements 5 - 8 Barker Stanley & Partners CHARTERED ACCOUNTANTS AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of The Corporation of the Village of Vienna We have audited the consolidated balance sheet of The Corporation of the Village of Vienna as at December 31, 1995 and the consolidated statement of operations for the year then ended. These financial statements are the responsibility of the Village's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, these consolidated financial statements present fairly, in all material respects, the financial position of the Village as at December 31, 1995 and the results of its operations for the year then ended in accordance with the accounting principles disclosed in Note 1 to the financial statements. St. Thomas, Ontario EadGM SeWer� t Pa/r leia April 10, 1996 CHARTERED ACCOUNTANTS - 1 - THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Balance Sheet As At December 31, 1995 1995 1994 $ $ ASSETS Unrestricted Cash 513,486 423,816 Taxes receivable 41,610 38,115 Accounts receivable 13,258 10,866 Other current assets 13,420 20,397 581,774 493,194 Restricted Cash 1,493 1.432 TOTAL ASSETS 583.267 494,626 LIABILITIES Accounts payable and accrued liabilities 46,053 23,128 FUND BALANCES AT THE END OF THE YEAR To be used to offset (to be recovered from) taxation or user charges (Note 6) 95,694 92,785 Reserves (Note 4) 441,520 378,713 TOTAL LIABILITIES AND FUND BALANCES 583,267 494,626 See accompanying notes to the consolidated financial statements. - 2 - THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Statement of Operations Year Ended December 31, 1995 Budget Actual Actual 1995 1995 1994 $ $ $ SOURCES OF FINANCING Taxation and user charges (Note 1) Residential and farm taxation 195,482 201,808 194,015 Commercial, industrial and business taxation 30,458 29,713 28,614 User charges 69,711 64,406 57,477 Deduct: amounts received or receivable for county and school boards (Note 1(a)(iii)) (136,401) (136,806) (128,541) Grants Canada 1,785 14,511 2,380 Province of Ontario 116,544 103,174 68,605 Other municipalities 2,448 2,448 8,733 Other Investment income 13,000 23,062 15,973 Other 37,420 50,559 54,559 Fund balances at the beginning of the year To be used to offset (to be recovered from) taxation or user charges (Note 6) 77307 92,785 92,369 TOTAL FINANCING AVAILABLE DURING YEAR 407,754 445,660 394,184 See accompanying notes to the consolidated financial statements. - 3 - THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Statement of Operations Year Ended December 31, 1995 Budget Actual Actual 1995 1995 1994 APPLIED TO Current operations General government 82,563 83,427 53,454 Protection to persons and property 10,830 9,826 6,620 Transportation services 45,800 24,737 19,849 Environmental services 119,961 103,578 75,625 Recreation and cultural services 39,800 30,877 36,424 Planning and development 1,000 2,386 101 299,954 254,831 192,073 Capital General government - 2,829 4,142 Transportation services - 3,000 34,376 Recreation and cultural services 45,300 26,498 2,807 45,300 32.327 41,325 Net appropriations to reserves and reserve funds 62,500 62,808 68.000 Fund balances at the end of the year To be used to offset (to be recovered from) taxation or user charges (Note 6) - 95,694 92,786 TOTAL APPLICATIONS DURING THE YEAR 407.754 445.660 394,184 See accompanying notes to the consolidated financial statements. - 4 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1995 1. SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements of the Municipality are the representation of management prepared in accordance with accounting policies prescribed for Ontario municipalities by the Ministry of Municipal Affairs. Since precise determination of many assets and liabilities is dependent upon future events, the preparation of periodic financial statements necessarily involves the use of estimates and approximations. These have been made using careful judgments. a) Basis of Consolidation (i) Consolidated Balance Sheet This statement reflects the assets and liabilities of the revenue fund, the capital fund and includes the activities of all committees of Council and the following local boards, which are under the control of council: - Vienna Community Centre Board - Museum Board (ii) Consolidated Statement of Operations This statement reflects the consolidated sources of financing and expenditures of the revenue fund, reserves, and the capital fund of the Municipality and those boards, described in Note 1(a)(i). All interfund sources of financing and expenditures are eliminated with the exception of interest income and expenses arising from loans and advances between the reserve funds and other funds of the Municipality. (iii) Accounting for County School Board Transactions (gross less reduction) The taxation and other revenues with respect to the operations of the school boards, and the County of Elgin are reflected in the Consolidated Statement of Operations but with no effect on the Municipal Fund Balances since the total is shown as a deduction. In addition the expenditures, assets and liabilities with respect to the operations of the school boards, and the County of Elgin are not reflected in these financial statements. (iv) Trust Funds Trust funds and their related operations administered by the Municipality are not consolidated, but are reported separately on the Trust Funds Balance Sheet and Statement of Continuity. - 5 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1995 b) Basis of Accounting (i) Sources of financing and expenditures are reported on the accrual basis of accounting with the exception of principal and interest charges on long-term liabilities which are charged against operations in the periods in which they are paid. (ii) The accrual basis of accounting recognizes revenues as they become available and measurable, expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services and the creation of a legal obligation to pay. (iii) Fixed Assets The historical cost and accumulated depreciation for fixed assets are not recorded for municipal purposes. Fixed assets are reported as an expenditure on the Consolidated Statement of Operations in the year of acquisition. (iv) Capital Outlay to be Recovered in Future Years "Capital outlay to be recovered in future years", which represents the outstanding principal portion of unmatured long-term liabilities for municipal expenditures or capital funds transferred to other organizations, is reported on the Consolidated Balance Sheet. 2. OPERATIONS OF SCHOOL BOARDS AND COUNTY OF ELGIN Further to Note 1(a)(iii), the taxation, other revenues, and expenditures of the school boards and the County of Elgin are comprised of the following: School County Boards of Elgin Taxation and user charges 92,472 38,662 Share of taxation of telephone receipts 4,251 1.421 Amounts requisitioned 96,723 40,083 3. TRUST FUNDS Trust funds administered by the Municipality amounting to $1,313 (1994 - $1,720) have not been included in the Consolidated Balance Sheet nor have their operations been included in the Consolidated Statement of Operations. - 6 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1995 4. RESERVES The total balance of reserves consists of the following: 1995 1994 $ $ Reserves set aside for specific purposes by Council for acquisition of fixed assets 332,308 269,500 for working capital 95,000 95,000 for museum purposes 14,213 14,213 Total reserves 441,521 378.713 Increase for the year 62.808 68.000 5. CONTRACTUAL OBLIGATIONS - MINISTRY OF THE ENVIRONMENT In accordance with the services agreement entered into by the Municipality in 1974 with the Ministry of the Environment, the existing water system is owned and operated by the Ministry. The Municipality is obligated to meet all operating costs and repay the long-term liabilities related to these projects. Included in the Consolidated Statement of Operations are the 1995 charges from the Ministry - water $47,472. The Consolidated Balance Sheet does not reflect any assets or liabilities pertaining to the water system except to the extent of service charges due to the Ministry. Information received from the Ministry as at March 31, 1995, indicates the following: Total Accumulated 1995 outstanding surplus debt long-term (deficit) charges liabilities $ $ $ Water system - for this 20,729 7.418 67,531 municipality only Water system - share of integrated project (3.854) 749 6,742 The operating deficits and long-term liabilities indicated above are not reflected in the accompanying financial statements. - 7 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1995 6. FUND BALANCE AT THE END OF THE YEAR 1995 1994 $ $ The balance on the Consolidated Statement of Operations of municipal equity of $95,694 (1994 - $92,785) at the end of the year is comprised of the following: For general reduction of taxation 84,712 77,307 For general reduction of user charges 10,982 15,478 95,694 92.785 - 8 - ONTARIO MINISTRY OF MUNICIPAL AFFAIRS AND HOUSING 1995 FINANCIAL INFORMATION RETURN Please read instructions before completing (Round amounts to nearest dollar) Municipality: Village of Vienna Status: Regn/Cty/Dist: Elgin Cnty/Mn Code: 3404 from Assessment Roll Is this an upper tier municipality?: n (Y/N) Are merged areas being reported?: n (Y/N) Computer use: SCHEDULE 1 Village of Vienna ANALYSIS OF REVENUE FUND upper school REVENUES total tier board own For the year ending Dec 31, 1995 revenue purposes purposes purposes Note: Upper tiers use column 4 only 1 2 3 4 S $ $ $ Taxation Taxation from schedule 2LT (or requsitions from schedule 2UT) 1 231,521 40,083 96,723 94,715 Direct water billings on ratepayers -- own municipality 2 43,377 43,377 -- other municipalities 3 21,029 21,029 Sewer surcharge on direct water billings -- own municipality 4 0 -- other municipalities 5 0 Subtotal 6 295,927 40,083 96,723 159,121 Payments in lieu of taxes Canada 7 0 Canada enterprises 8 0 Ontario The Municipal Tax Assistance Act 9 0 The Municipal Act, section 160 10 0 Other 11 0 Ontario enterprises Ontario Housing Corporation 12 0 Ontario Hydro 13 0 Liquor Control Board of Ontario 14 0 Other 15 0 Municipal enterprises 16 0 Other municipalities and enterprises 17 0 Subtotal 18 0 0 0 0 Ontario unconditional grants Per household general 19 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx Per household police 20 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx Transitional and special assistance 22 0 Resource equalization 23 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx General support 24 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx Northern special support 25 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx Apportionment guarantee 26 0 Revenue guarantee 27 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx Subtotal 28 36,785 36,785 Revenues for specific functions Ontario specific grants 29 64,889 64,889 Canada specific grants 30 2,975 2,975 Other municipalities--grants and fees 31 8,664 8,664 Fees, service charges and donations 32 30,549 30,549 Subtotal 33 107,077 0 0 107,077 Other revenue Trailer revenue and licences 34 0 Licences and permits 35 8,388 8,388 Fines 37 0 Penalties and interest on taxes 38 5,406 5,406 Investment income--from own funds 39 0 --other 40 23,062 23,062 Sale of publications, equipment, etc. 42 0 Contributions from capital fund 43 0 Contributions from reserves and reserve funds 44 186 186 Contributions from non consolidated entities 45 0 Other 46 0 47 0 48 0 Sale of land 49 0 Subtotal 50 37,042 0 0 37,042 Total revenue 51 476,831 40,083 96,723 340,025 SCHEDULE 2LT Village of Vienna ANALYSIS OF TAXATION LOCAL TAXABLE ASSESSMENT For the year ending Dec. 31, 1995 computer residential commercial use and farm & industrial business 1 2 3 I. Own purposes $ $ $ (a) Levied by mill rate General 01010 478,151 35,244 9,200 police villages at reduced rates 0102 farms at reduced rates 0103 01 01 Special area rates and police villages 01 01 01 01 01 01 01 Subtotal levied by mill rate xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx (b) Other charges on tax bills Share of 'phone and 'graph taxn xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Local improvements xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Sewer and water service charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Sewer & water connect'n charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Fire service charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Minimum tax (differential only) xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Municipal drainage charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Garbage collection charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Business improvement area xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx - - xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Subtotal special chg on tax bills xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Total own purposes taxation xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx II. Upper tier purposes (a) Levied by mill rate General 02010 478,151 35,241 9,200 Special purposes 02 02 . 02 . 02 Subtotal levied by mill rate xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx (b) Other charges on tax bills Share of 'phone and 'graph taxn xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Local improvements xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Sewer and water service charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Sewer & water connect'n charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Fire service charges xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Subtotal special chg on tax bills xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Total upper tier taxation xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx III School board purposes Elementary public 0301 461,733 32,807 8,470 0301 Share of 'phone and 'graph taxn xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Subtotal elementary public xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Elementary separate 0401 16,418 2,437 730 0401 . 0401 Share of 'phone and 'graph taxn xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Subtotal elementary separate xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Secondary public 0501 461,733 32,807 8,470 0501 0 0 0 Share of 'phone and 'graph taxn xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Subtotal secondary public xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Secondary separate 0701 16,418 2,437 730 . 0701 0 0 0 0701 0 0 0 Share of 'phone and 'graph taxn xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Subtotal secondary separate xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Total all school board taxation xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx Village of Vienna MILL RATES TAXES LEVIED SUPPLEMENTARY TAXES TOTAL TAXES commercial resident. industrial residential commercial residential commercial total & farm & business and farm & industrial business and farm & industrial business cols 6 to 11 4 5 6 7 8 9 10 11 12 $ $ $ $ $ $ $ 162.3710 191.0250 77,638 6,733 1,757 638 (255) (117) 86,394 0 0 0 0 0 0 0 0 0 0 0 xxxxxxxxxx 01400 77,638 6,733 1,757 638 (255) (117) 86,394 xxxxxxxxxx 01210 3,311 3,311 xxxxxxxxxx 01220 4,718 292 5,010 xxxxxxxxxx 01230 0 xxxxxxxxxx 01240 0 xxxxxxxxxx 01250 0 xxxxxxxxxx 01260 0 xxxxxxxxxx 012700 xxxxxxxxxx 01280 0 xxxxxxxxxx 01290 xxxxxxxxxx xxxxxxxxxx 0 xxxxxxxxxx 01300 0 xxxxxxxxxx 01310 4,718 3,603 0 0 0 0 8,321 xxxxxxxxxx 01320 82,356 10,336 1,757 638 (255) (117) 94,715 72.6620 .85.4850 34,743 3,012 787 286 (113) (53) 38,662 0 0 0 0 xxxxxxxxxx 02400 34,743 3,012 787 286 (113) (53) 38,662 xxxxxxxxxx 02210 1,421 1,421 xxxxxxxxxx 02220 0 xxxxxxxxxx 02230 0 xxxxxxxxxx 02240 0 xxxxxxxxxx 02250 0 xxxxxxxxxx 02300 0 xxxxxxxxxx 02310 0 1,421 0 0 0 0 1,421 xxxxxxxxxx 02320 34,743 4,433 787 286 (113) (53) 40,083 91.9700 108.2000 42,465 3,549 916 394 (144) (67) 47,113 0 xxxxxxxxxx 03210 2,150 2,150 xxxxxxxxxx 03320 42,465 5,699 916 394 (144) (67) 49,263 90.5510 106.5300 1,487 260 78 (32) 1,793 0 0 xX,00(xxxxx 04210 65 65 x;;xxxxxxxx 04320 1,487 325 78 (32) 0 0 1,858 81.8400 96.2800 37,788 3,158 845 351 (129) (59) 41,924 0 xxxxxxxxxx 05210 1,976 1,976 xxxxxxxxxx 05320 37,788 5,134 815 351 (129) (59) 43,900 82.9050 97.5350 1,351 239 71 (29) 1,642 0 0 xxxxxxxxxx 07210 60 60 xxxxxxxxxx 07320 1,351 299 71 (29) 0 0 1,702 xxxxxxxxxx 08320 83,101 11,457 1,880 684 (273) (126) 96,723 SCHEDULE 3 Village of Vienna ANALYSIS OF CURRENT REVENUES other FOR SPECIFIC FUNCTIONS Ontario municip'ties fees, service For the year ending Dec 31, 1995 specific Canada grants, fees & charges & grants* grants service charges donations 1 2 3 4 $ $ $ $ General government 1 8,921 Protection to persons and property Fire 2 Police 3 Conservation authority - 4 Protective inspection and control 5 6 Subtotal 7 0 0 0 0 Transportation services Roadways 8 17,112 2,448 Winter control 9 3,000 Transit 10 Parking 11 Street lighting 12 Air transportation 13 14 Subtotal 15 20,112 0 2,448 0 Environmental services Sanitary sewer system 16 30,856 Storm sewer system 17 Waterworks system 18 7,445 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 30,856 0 0 7,445 Health services Public health services 24 Public health inspection and control 25 Hospitals 26 Ambulance services 27 Cemeteries 28 29 Subtotal 30 0 0 0 0 Social and family services General assistance 31 Assistance to aged persons 32 Assistance to children 33 Day nurseries 34 35 Subtotal 36 0 0 0 0 Recreation and cultural services Parks and recreation 37 5,000 15,964 Libraries 38 6,216 Other cultural 39 2,975 6,640 Subtotal 40 5,000 2,975 6,216 22,604 Planning and development Planning and zoning 41 500 Commercial and industrial 42 Residential development 43 Agricultural and reforestation 44 Tile drainage/shoreline assistance 45 xxxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx 46 Subtotal 47 0 0 0 500 Electricity 48 Gas 49 Telephone 50 Total 51 64,889 2,975 8,664 30,549 * includes Ontario financing of capital loans repayments (for details see schedule 15) SCHEDULE 4 Viilage of Vien ANALYSIS OF REVENUE FUND materials, EXPENDITURES salaries, services, For the year ending Dec 31, 1995 wages and rents and transfers employee net long term financial to own benefits debt charges* expenses funds 1 2 3 4 $ $ $ $ General government 1 48,186 35,241 2,829 Protection to persons and property Fire 2 4,750 Police 3 Conservation authority 4 Protective inspection and control 5 1,126 3,121 6 Subtotal 7 1,126 0 7,871 0 Transportation services Roadways 8 9,160 4,102 1,500 Winter control 9 7,421 Transit 10 Parking 11 Street lighting 12 100 3,954 Air transportation 13 14 Subtotal 15 9,260 0 15,477 1,500 Environmental services Sanitary sewer system 16 26,372 Storm sewer system 17 30,000 Waterworks system 18 1,635 53,818 30,493 Garbage collection 19 18,089 Garbage disposal 20 3,664 2,000 Pollution control 21 22 Subtotal 23 1,635 0 101,943 62,493 Health services Public health services 24 Public health inspection and control 25 Hospitals 26 Ambulance services 27 Cemeteries 28 29 Subtotal 30 0 0 0 0 Social and family services General assistance 31 Assistance to aged persons 32 Assistance to children 33 Day nurseries 34 35 Subtotal 36 0 0 0 0 Recreation and cultural services Parks and recreation 37 5,669 13,395 9,431 Libraries 38 3,092 Other cultural 39 4,316 4,405 6,031 Subtotal 40 9,985 0 20,892 15,462` Planning and development Planning and zoning 41 2,387 Commercial and industrial 42 Residential development 43 Agricultural and reforestation 44 Tile drainage/shoreline assistance 45 xxxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx . 46 Subtotal 47 0 0 2,387 0 Electricity 48 Gas 49 Telephone 50 Total 51 70,192 0 183,811 82,284 * includes Ontario financing of capital loans repayments (for details see schedule 15) na SCHEDULE 4 Village of Vienna 01 ANALYSIS OF REVENUE FUND Di EXPENDITURES inter- For the year ending Dec 31, 1995 other functional total 8 transfers transfers expenditure g Ju' h, 5 6 7 $ $ Total of column 2 includes: Payments to Ontario in respect of Down- DW, 86,256 1 town Revitalization Program loans 81 Accrued interest (enter an amount only 4,750 2 if the change to the accrual basis :s 0 3 was made in this reporting year) 82 3n( 829 829 4 Ir 4,247 5 Interest portion of transit debt charges 0 6 included on line 10 83 __. 829 0 9,826 7 ar )n, 14,762 8 Total of column 3 includes: 7,421 9 Ministry of the Environment 0 10 Provincial projects service charges 0 11 --water 52 2,027 as 4,054 12 --sewer 53 Der 0 13 Provincial projects frontage and 0 14 connection charges--water 57 5,684 0 0 26,237 15 --sewer 58 Joint projects operating charges 26,372 16 --water 54 • 30,000 17 --sewer 55 85,946 18 O.P.P. policing contracts 56 18,089 19 Short term interest costs 60 ie; 5,664 20 0 21 0 22 Total of column 5 includes: 0 0 166,071 23 Grants to charitable and non-profit organizations 62 0 24 Grants to universities and colleges 63 0 25 Contributions to UNCONSOLIDATED 0 26 joint local boards 0 27 Health unit 64 0 28 District welfare board 65 0 29 Home for the aged 66 0 0 0 30 Recreation board(s) 67 Fire area board 68 0 31 Suburban roads commission 69 0 32 70 0 33 71 0 34 0 35 0 0 0 36 Line 1 of column 7 includes: ds Members of council 72 11,433 28,495 37 3,092 38 ca 14,752 39 Line 51 of column 7 includes: 0 0 46,339 40 Payments in respect of long term commit- ments and liabilities financed from revenue, 2,387 41 as approved by the Ontario Municipal Board 0 42 or Council, as the case may be. Ex0li.icle 0 43 debt charges reported in column 2. 73 ou 0 44 xxxxxxxxxxxxx xxxxxxxxxxxxx 0 45 0 46 li 0 0 2,387 47 r 0 48 0 49 u„ 0 50 re 829 0 337,116 51 ra SCHEDULE 6 Village of Vienna ANALYSIS OF CAPITAL GRANTS AND OWN EXPENDITURES CAPITAL GRANTS For the year ending Dec 31, 1995 TOTAL Ontario Canada Other OWN grants grants municip'ties EXPENDITURES 1 2 3 4 $ $ $ $ General government 1 2,829 Protection to persons and property Fire 2 . Police 3 Conservation authority 4 Protective inspection and control 5 6 Subtotal 7 0 0 0 0 Transportation services Roadways 8 1,500 3,000 Winter control 9 Transit 10 Parking 11 Street lighting 12 Air transportation 13 14 Subtotal 15 1,500 0 0 3,000 Environmental services Sanitary sewer system 16 Storm sewer system 17 Waterworks system 18 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 0 0 0 0 Health services Public health services 24 Public health inspection and control 25 Hospitals 26 Ambulance services 27 Cemeteries 28 29 Subtotal 30 0 0 0 0 Social and family services General assistance 31 Assistance to aged persons 32 Assistance to children 33 Day nurseries 34 35 Subtotal 36 0 0 0 0 Recreation and cultural services Parks and recreation 37 11,536 20,467 Libraries 38 0 Other cultural 39 6,031 Subtotal 40 0 11,536 0 26,498 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agricultural and reforestation 44 Tile drainage/shoreline assistance 45 xxxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx 46 Subtotal 47 0 0 0 0 Electricity 48 Gas 49 Telephone 50 Total 51 1,500 11,536 0 32,327 SCHEDULE 7 Village or vienna ANALYSIS OF NET LONG TERM LIABILITIES BY FUNCTION 1 For the year ending Dec 31, 1995 S General government 1 Protection to persons and property Fire 2 Police 3 Conservation authority 4 Protective inspection and control 5 6 Subtotal 7 0 Transportation services Roadways 8 Winter control 9 Transit 10 Parking 11 Street lighting 12 Air transportation 13 14 Subtotal 15 0 Environmental services Sanitary sewer system 16 Storm sewer system 17 Waterworks system 18 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 0 Health services Public health services 24 Public health inspection and control 25 Hospitals 26 Ambulance services 27 Cemeteries 28 29 Subtotal 30 0 Social and family services General assistance 31 Assistance to aged persons 32 Assistance to children 33 Day nurseries 34 35 Subtotal 36 0 Recreation and cultural services Parks and recreation 37 Libraries 38 Other cultural 39 Subtotal 40 0 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agricultural and reforestation 44 Tile drainage/shoreline assistance 45 46 Subtotal 47 0 Electricity 48 Gas 49 Telephone 50 Total 51 0 SCHEDULE 8 Village of Vienna ANALYSIS OF LONG TERM LIABILITIES AND COMMITMENTS 1 For the year ending Dec 31, 1995 $ 1. Calculation of debt burden of the municipality All debt issued by the municipality, predecessor municipalities and consolidated entities : To Ontario and agencies 1 : To Canada and agencies 2 : To other 3 Subtotal 4 0 Plus: All debt assumed by the municipality from others 5 Less: All debt assumed by others : Ontario -- special purpose loans 80 : Ontario -- other 81 : Schoolboards 7 : Other municipalities 8 Subtotal 9 0 Less: Ontario Clean Water Agency debt retirement funds--sewer 10 --water 11 Own sinking funds (actual balances) --general 12 --enterprises and other 13 Subtotal 14 0 Total 15 0 Amount reported in line 15 analysed as follows: Sinking fund debentures 16 Installment (serial) debentures 17 Long term bank loans 18 Lease purchase agreements 19 Mortgages 20 Ontario Clean Water Agency 22 . 23 24 2. Total debt payable in foreign currencies (net of sinking fund holdings) U.S. $--Cdn $ equivalent incl in line 15 above 25 --par value of this amount in U.S.$ 26 Other --Cdn $ equivalent incl in line 15 27 --par value of this amount in 28 3. Interest earned on sinking funds and debt retirement funds during the year Own funds 29 Ontario Clean Water Agency--sewer 30 --water 31 4. Actuarial balance of own sinking funds at year end 32 5. Long term commitments and contingencies at year end Total liability for accumulated sick pay credits 33 Total liability under OMERS plans --initial unfunded 34 (payable over _ yrs)(no. of employees _) --actuarial deficiency 35 (payable over _ yrs) Total liability for own pension funds --initial unfunded 36 (payable over _ yrs)(no. of employees _) --actuarial deficiency 37 (payable over _ yrs) Outstanding loan guarantees 38 (payable over _ yrs) Commitments and liabilities financed from revenue, as approved by the Ontario Municipal Board or Council, as the case may be --hospital support 39 --university support 40 --leases and other agreements 41 Other (specify) . 42 . 43 . 44 Total 45 0 SCHEDULE 8 Village of Vienna ANALYSIS OF LONG TERM LIABILITIES AND COMMITMENTS For the year ending Dec 31, 1995 6. Ontario Clean Water Agency Provincial Projects total accumulated outstanding surplus capital debt (deficit) obligations charges 1 2 3 $ $ $ Water projects--for this municipality only 46 20,729 67,531 7,418 --share of integrated project(s) 47 (3,854) 6,742 749 Sewer projects--for this municipality only 48 --share of integrated project(s) 49 principal interest 7. 1995 Debt Charges 1 2 Recovered from consolidated revenue fund $ $ --general tax rates* 50 --special area rates and special charges 51 --benefitting landowners 52 --user rates (consolidated entities) 53 Recovered from reserve funds 54 Recovered from unconsolidated entities --hydro 55 --gas and telephone 57 56 58 59 Total 78 0 0 Line 78 includes: Financing of one-time real estate purchase 90 Other lump sum (balloon) repayments of L.T. debt 91 8. Future principal and interest payments on EXISTING net debt recoverable from the recoverable from recoverable from consolidated revenue fund reserve funds unconsolidated entities principal interest principal interest principal interest 1 2 3 4 5 6 $ $ $ $ $ $ 1996 60 1997 61 1998 62 1999 63 2000 64 2001-2005 65 2006 onwards 79 Interest to be earned on sinking funds* 69 Downtown revital- ization program 70 Total 71 0 0 0 0 0 0 *includes interest to be earned on Ontario Clean Water Agency debt retirement funds 9. Future principal payments on EXPECTED NEW debt 1 $ 1996 72 1997 73 1998 74 1999 75 2000 76 Total 77 0 10. Other notes; please submit other notes in paper copy, and attach supporting schedule as required. principal interest 1 2 11. Long term debt refinanced: $ $ Repayment of Provincial Special Assistance 92 Other long term debt refinanced 93 * includes Ontario financing of capital loan repayments (for details see schedule 15) SCHEDULE 9LT Village of Vienna CONTINUITY OF UPPER TIER AND SCHOOL BOARD LEVIES For the year ending Dec 31, 1995 balance at beginning amounts supplementary total of year requisitioned taxes expended UPPER TIER 1 2 3 4 Included in general mill rate for upper tier purposes $ $ $ $ General requsition 1 39,963 120 40,083 Special purpose requisitions Water rate - 2 Transit rate 3 Sewer rate 4 Library rate 5 Road rate 6 7 8 Payments in lieu of taxes 9 Telephone and telegraph taxation 10 Subtotal levied by mill rate--general 11 0 39,963 120 40,083 Special purpose requisitions Water 12 Transit 13 Sewer 14 Library 15 16 17 Subtotal levied by mill rate--special rates 18 0 0 0 0 Special charges 19 Direct water billings 20 Sewer surcharge on direct water billings 21 Total region or county 22 0 39,963 120 40,083 pupils' balance at fees, share beginning amounts supplementary of trailer of year requisitioned taxes licences SCHOOL BOARDS 1 2 3 4 Elementary public (specify) $ $ $ $ Elgin County Board of Eduation 30 49,080 183 31 Elementary separate (specify) Elgin County Board of Education 40 1,890 (32) 41 42 Secondary public (specify) Elgin County Board of Education 50 43,737 163 51 Secondary separate (specify) Elgin County Board of Education 70 1,731 (29) 71 72 Total school boards 36 0 96,438 285 0 Village of Vienna telephone share of and share of payments balance amount telegraph Provincial in lieu of total at end levied taxation grants taxes other raised of year 5 6 8 9 10 12 11 $ $ $ $ $ $ $ 1 2 3 4 5 6 7 8 9 10 38,662 1,421 0 0 0 40,083 0 11 12 13 14 15 16 17 0 0 0 0 0 0 0 18 0 19 0 20 0 21 38,662 1,421 0 0 0 40,083 0 22 telephone share of pupils' and payments fees, share balance total amount telegraph in lieu of of trailer total at end expended levied taxation taxes licences raised of year 5 6 7 8 9 10 11 $ $ $ $ $ $ $ 49,263 47,113 2,150 49,263 0 30 0 31 1,858 1,793 65 1,858 0 40 0 41 0 42 43,900 41,924 1,976 43,900 0 50 0 51 1,702 1,642 60 1,702 0 70 0 71 0 72 96,723 92,472 4,251 0 0 96,723 0 36 SCHEDULE 10 Village of Vienna CONTINUITY OF RESERVES AND RESERVE FUNDS 1 For the year ending Dec 31, 1995 $ Balance at beginning of year 1 378,713 Revenues Contributions from revenue fund 2 62,993 Contributions from capital fund 3 Development Charges Act 67 Lot levies and subdivider contrbutions 60 Recreational land (the Planning Act) 61 Investment income--from own funds 5 --other 6 0 • 9 10 11 12 Total revenue 13 62,993 Expenditures Transferred to capital fund 14 Transfe-red to revenue fund 15 186 Charges for long term liabilities --principal and interest 16 63 20 21 Total expenditure 22 186 Balance at end of year for: Reserves 23 441,520 Reserve funds 24 Total 25 441,520 analysed as follows: Working funds 26 95,000 Contingencies 27 Ontario Clean Water Agency funds for renewals, etc --sewer 28 --water 29 Replacement of equipment 30 51,800 Sick leave 31 Insurance 32 Workers' compensation 33 Capital expenditure--general administration 34 --roads 35 --sanitary and storm sewers 36 178,700 --parks and recreation 64 13,000 --library 65 --other cultural 66 14,213 --water 38 86,493 --transit 39 --housing 40 --industrial development 41 --other and unspecified 42 Development Charges Act 68 Lot levies and subdivider contributions 44 Recreational land (the Planning Act) 46 Parking revenues 45 Debenture debt 47 Exchange rate stabilization 48 Waterworks current purposes 49 Transit current purposes 50 Library current purposes 51 Recreation current purposes 52 Environmental current purposes 53 2,000 54 55 56 57 Total 58 441,520 SCHEDULE 11 V usage or vienna ANALYSIS OF CONSOLIDATED YEAR END BALANCES 1 2 For the year ending Dec 31, 1995 $ $ ASSETS not in Current assets chartered bank Cash 1 514,979 Accounts receivable Canada 2 Ontario 3 12,249 Region or county 4 Other municipalities 5 School boards 6 87 portion of Waterworks 7 922 taxes rec'ble Other (including unorganized areas) 8 for business Taxes receivable taxes Current year's levies 9 22,424 869 Previous year's levies 10 8,399 646 Prior years' levies 11 5,684,34.'761 200 Penalties and interest 12 4,901 Less allowance for uncollectables (negative) 13 Investments (market value $) Canada 14 Provincial 15 Municipal 16 portion of Other 17 line 20 for Other current assets 18 13,420 tax sale/tax Capital outlay to be recovered in future years 19 registration Other long term assets 20 Total 21 583,267 LIABILITIES not from chartered Current liabilities banks Temporary loans--current purposes 22 --capital--Ontario 23 --Canada 24 --Other 25 Accounts payable and accrued liabilities Canada 26 Ontario 27 Region or county 28 Other municipalities 29 6,267 School boards 30 Trade accounts payable 31 32,415 Other 32 7,371 Other current liabilities 33 Net long term liabilities Recoverable from the Consolidated Revenue Fund --general tax rates 34 --special area rates and special charges 35 --benefitting landowners 36 --user rates (consolidated entities) 37 Recoverable from Reserve Funds 38 Recoverable from unconsolidated entities 39 Less:Own holdings (negative) 40 Reserves and reserve funds 41 441,520 Accumulated net revenue (deficit) General revenue 42 84,712 Special charges and special areas (specify) 43 44 45 46 Consolidated local boards (specify) Transit operations 47 Water operations 48 Libraries 49 Cemeteries 50 Recreation, community centres and arenas 51 Museum 52 10,982 53 54 55 Region or county 56 School boards 57 Unexpended capital financing/ (unfinanced capital outlay) 58 Total 59 583,267 SCHEDULE 12 ViLlace or Vienn STATISTICAL DATA For the year ending Dec 31, 1995 1. Number of continuous full time employees as at Dec 31 1 Administration 1 Non-line Departmental Support Staff 2 Fire 3 Police 4 Transit 5 Public Works 6 Health Services 7 Homes for the Aged 8 Other Social Services 9 Parks and Recreation 10 Libraries 11 Planning 12 Total 13 0 continuous full time employees December 31 Other 1 2 2. Total expenditures during the year on: $ $ Wages and salaries 14 50,744 Employee benefits 15 3,034 3. Reductions of tax roll during the year 1 (lower tier municipalities only) $ Cash collections: Current year's tax 16 209,097 Previous years' tax 17 21,348 Penalties and interest 18 4,173 Subtotal 19 234,618 Discounts allowed 20 Tax adjustments under section 362 and 263 of the --amounts added to the roll (negative) 22 --amounts written off 23 Tar, adjustments under sections 465,495 and 496 of the Municipal Act --recoverable from upper tier and school boards 24 1,544 --recoverable from general municipal revenues 25 1,017 Transfers to tax sale and tax registration accounts 26 The Municipal Elderly Residents' Assistance Act --reductions 27 --refunds 28 Other (specify) 80 Total reductions 29 237,179 Amourr:s added to the tax roll for collection purposes only 30 Business taxes written off under subsection 495(1) of the Municipal Act 81 500 4. Tax due dates for 1995 1 Interim billings: Number of installments 31 2 Due date of first installment (MMDDYY) 32 280295 Due date of last installment (MMDDYY) 33 300595 Final billings: Number of installments 34 2 Due date of first installment (MMDDYY) 35 290895 Due date of last installment (MMDDYY) 36 281195 Supplementary taxes levied with a 1996 due date 37$ long term financing requirements approved by submitted but forecast not 5. Projected capital expenditures and long term gross the OMB not yet app'vd yet submitted financing requirements as at December 31 expenditure or council by OMB/council to OMB/council 1 2 3 4 Estimated to take place $ $ $ $ In 1996 58 In 1997 59 In 1998 60 In 1999 61 In 2000 62 Total 63 0 0 0 0 balance loans in fund outstanding 1 2 $ $ 6. Ontario Home Renewal Plan trust fund at year end 82 1,313 900 SCHEDULE 12 Village of Vienna STATISTICAL DATA For the year ending Dec 31, 1995 7. Analysis of direct water and sewer billings as water at December 31 number of 1995 billings residential residential all other computer units units properties use only 1 2 3 $ $ In this municipality 39 162 40,417 2,960 In other municipalities (specify municipality) Township of Bayham 40 54 16,139 4,890 41 42 43 64 sewer number of 1995 billings residential residential all other computer units units properties use only 1 2 3 $ $ In this municipality 44 In other municipalities (specify municipality) 45 46 47 48 65 water sewer Number of residential units in this municipality receiving municipal water and sewer services but 1 2 which are not on direct billing 66 8. Selected investments of own sinking funds other as at December 31 own municipalities, municipality school boards Province Federal 1 2 3 4 $ $ $ $ Own sinking funds 83 9. Borrowing from own reserve funds 1 Loans or advances due to reserve funds as $ at December 31 84 10. Joint boards consolidated by this municipality this municipal- contributions ity's share of total board from this total municipal computer expenditure municipality contributions use only 1 2 3 $ $ 53 54 • 55 56 • 57 SCHEDULE 12 Village of Vienna STATISTICAL DATA For the year ending Dec 31, 1995 Village of Vienna 11. Applications to the Ontario Municipal tile drainage Board or Council shoreline assist- ance, downtown revitalization, other other electricity submitted submitted gas, telephone to OMB to council total 1 2 4 3 $ $ $ $ Approved but not financed as at Dec. 31, 1994 67 0 Approved in 1995 68 0 Financed in 1995 69 0 No long term financing necessary 70 0 Balance approved but not financed as at Dec. 31, 1995 71 0 Applications submitted but not approved as at Dec. 31, 1995 72 0 12. Forecast of total revenue fund expenditures 1996 1997 1998 1999 2000 1 2 3 4 5 $ $ $ $ $ 73 SCHEDULE 15 Village of Vienna ONTARIO FINANCING OF CAPITAL LOAN REPAYMENTS For the year ending Dec 31, 1995 principal interest 1 2 $ $ General government 1 Protection to persons and property Fire 2 Police 3 Conservation authority 4 Protective inspection and control 5 6 Subtotal 7 0 0 Transportation services Roadways 8 Winter control 9 Transit 10 Parking 11 Street lighting 12 Air transportation 13 14 Subtotal 15 0 0 Environmental services Sanitary sewer system 16 Storm sewer system 17 Waterworks system 18 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 0 0 Health services Public health services 24 Public health inspection and control 25 Hospitals 26 Ambulance services 27 Cemeteries 28 29 Subtotal 30 0 0 Social and family services General assistance 31 Assistance to aged persons 32 Assistance to children 33 Day nurseries 34 35 Subtotal 36 0 0 Recreation and cultural services Parks and recreation 37 Libraries 38 Other cultural 39 Subtotal 40 0 0 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agricultural and reforestation 44 Tile drainage/shoreline assistance 45 46 Subtotal 47 0 0 Electricity 48 Gas 49 Telephone 50 Total 51 0 0 THE CORPORATION OF THE VILLAGE OF VIENNA Unconsolidated Trust Fund December 31, 1995 Barker Stanley & Partners CHARTERED ACCOUNTANTS AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of The Corporation of the Village of Vienna We have audited the trust fund balance sheet of The Corporation of the Village of Vienna as at December 31, 1995 and the trust fund statement of continuity for the year then ended. These financial statements are the responsibility of the Village's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, these financial statements present fairly, in all material respects, the financial position of the trust fund of the Village as at December 31, 1995 and the continuity of trust fund for the year then ended in accordance with the accounting principles disclosed in Note 1 to the financial statements. St. Thomas, Ontario E� ,SeCz4� PC rt/4.v 2 April 10, 1996 CHARTERED ACCOUNTANTS THE CORPORATION OF THE VILLAGE OF VIENNA Ontario Home Renewal Plan Trust Fund Balance Sheet As At December 31, 1995 ASSETS 1995 1994 $ $ CURRENT Cash 413 461 Ontario Home Renewal Plan Loans receivable 900 1.259 1,313 1.720 LIABILITIES Capital balance 1,313 1.720 See accompanying notes to the financial statements THE CORPORATION OF THE VILLAGE OF VIENNA Ontario Home Renewal Plan Trust Fund Statement of Continuity As At December 31, 1995 1995 1994 Balance, beginning of year 1,720 21.678 Capital receipts Interest earned 54 116 Expenditures Repayment to Ministry of Housing 461 19,524 Loans forgiven - 550 461 20,074 Balance, end of year 1,313 1,720 See accompanying notes to the financial statements THE CORPORATION OF THE VILLAGE OF VIENNA Ontario Home Renewal Plan Trust Fund Notes to the Financial Statements As At December 31, 1995 1. SIGNIFICANT ACCOUNTING POLICY Basis of accounting Capital receipts and income are reported on the cash basis of accounting. Expenditures are reported on the cash basis of accounting with the exception of administrative expenses which are reported on the accrual basis of accounting, which recognizes expenditures as they are incurred and measurable as a result of the receipt of goods or services and the creation of a legal obligation to pay. 2. ONTARIO HOME RENEWAL PROGRAM The Ontario Home Renewal Program was established by the Ontario Ministry of Housing in 1973 to provide grants for municipalities to make loans to assist owner occupants to repair, rehabilitate and improve their home to local property standards. Individual loans are limited to $7,500 of which the maximum forgivable portion is $4,000. Ontario Home Renewal Program loans receivable at December 31, 1995 comprise repayable loans of $900 (1994 - $1,259) and forgivable loans of $nil (1994 - nil). Loan forgiveness is earned and recorded at a rate of up to $600 per year of continued ownership and occupancy. In the event of the sale or lease of the home or in the event of the homeowner ceasing to occupy the home, the balances of the repayable loan and the unearned forgivable loan immediately become due and payable by the homeowner.