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HomeMy WebLinkAboutFinancial Statements 1990 THE CORPORATION OF THE VILLAGE OF VIENNA UNCONSOLIDATED TRUST FUND FINANCIAL STATEMENTS DECEMBER 31, 1990 Barker Stanley Si Partners Chartered Accountants AUDITORS' REPORT To the Council, Inhabitants and Ratepayers of The Corporation of the Village. . ,. of Vienna: We have audited the balance sheet of the trust fund of the Corporation of the Village of Vienna as at December 31, 1990 and the statement of continuity of trust fund 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 postion of the trust fund of the Village as at December 31, 1990 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. Sa jai ft RA, St. Thomas, Ontario February 21, 1991 CHARTERED ACCOUNTANTS THE MUNICIPALITY OF THE VILLAGE OF VIENNA ONTARIO HOME RENEWAL PLAN TRUST FUND BALANCE SHEET DECEMBER 31, 1990 Assets 1990 1989 _fi_ $ Cash 19, 253 18, 812 0.H.R.P. loans repayable 3, 250 3, 955 0.H.R.P. loans forgivable 4,350 6,400 26,853 29, 167 Liabilities Accounts payable - 193 Due to revenue fund - 2, 102 Trust balance at end of year 26,853 26, 872 26,853 29, 167 STATEMENT OF CONTINUITY YEAR ENDED DECEMBER 31, 1990 1990 1989 $ $ Balance at beginning of year 26, 872 27, 955 Interest earned on funds 2, 033 1,319 Loans forgiven during year 2,050 2,400 Administration fee 2 2 2,052 2, 402 Balance at end of year 26,853 26, 872 See accompanying notes to the financial statements. THE CORPORATION OF THE VILLAGE OF VIENNA TRUST FUND NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1990 1 . Accounting policies 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 homes 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, 1990 comprise repayable loans of $3, 250 ( 1989 - $3, 955) and forgivable loans of $4,350 ( 1989 - $6, 400) . 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. - 1990 FINANCIAL INFORMATION RETURN MUNICIPALITY: VTT.T.TACE of VIENNA in the Region, County or District of: ET.CTN DECLARATION OF THE MUNICIPAL TREASURER Pursuant to the determination of grants under the Ontario Unconditional Grants Act,and to the information required by the Province under the Municipal Affairs Act, the following schedules are attached: Attached 1 Analysis of Revenue Fund Revenues ._ 2LT Analysis of Taxation X. 2UT Analysis of Upper Tier Requisitions and Direct Charges — 2MA Analysis of Taxation in Merged Areas x- 3 Analysis of Current Revenue for Specific Functions X. 4 Analysis of Revenue Fund Expenditures X 5 Analysis of Capital Operations x- 6 Analysis of Capital Grants and Own Expenditures — 7 Analysis of Net Long Term Liabilities By Function X. 8 Analysis of Long Term Liabilities and Commitments x- 9LT Continuity of Upper Tier and School Board Levies X 10 Continuity of Reserves and Reserve Funds X 11 Analysis of Consolidated Year End Balances X 12 Statistical Data a- 13 Grant Information .X. 14 Grant Information The schedules have been drawn up in accordance with the instructions provided by the Ministry of Municipal Affairs.They represent the consolidated financial activities of the municipality,all local boards,including joint boards where applicable and any other local corporate entities set up by the municipality to provide services to ratepayers. The consolidated local boards and entities are: • Vienna Community Centre Board • • Vienna Museum Board • • • • • • • • Trust funds administered by the municipality and its local boards, harbour commissions, humane societies, municipal non-profit housing corporations,provincial-municipal housing authorities,sinking funds,retirement or pension plan funds, school boards, conservation authorities, children's aid societies, district health councils, municipal hospitals and gas, telephone and hydro utilities are not consolidated. The schedules have been prepared by....Bar.ker..Stanl.ey.&.Partners (Auditor's firm or name of Municipality) Questions regarding the information contained in them should be addressed to .John.S.cot.t ..Char.ter.e.d..Accountan t at....(5.19) 633-0700 (Area code and telephone) Date•February 19 1991 Municipal Treasurer Municipality ACCOUNTANT'S REPORT VILLAGE OF VIENNA To the Ministry of Municipal Affairs Our examination of the financial statements of the Corporation of the Village of Vienna for the year ended December 31, 1990 was made for the purpose of forming an opinion on the financial statements referred to in our auditors' report to the Members of Council, Inhabitants and Ratepayers dated February 19, 1991. At your request, we have performed the following procedures in connection with Schedules 1 to 12 for the Financial Information Return of the Corporation of the Village of Vienna for the year ended December 31, 1990. (a) we have compared the amounts disclosed on these schedules to the books and records of the Village and found them to be in agreement; (b) we have added and cross-added all schedules; and (c) we have cross-referenced the information on the schedules where applicable. The above-noted schedules have not been subjected to the auditing procedures applied in the examination of the financial statements and accordingly we do not express an opinion on the fair presentation of this information. St. Thomas, Ontario, Canada February 19, 1991 &h c&- Licence Number 001120 CHARTERED ACCOUNTANTS ANALYSIS OF REVENUE FUND Municipality 1 REVENUES VILLAGE OF VIENNA (3) for the year ended December 31, 1990 upper school total tier board own revenue purposes purposes purposes Note: Upper tiers use column 4 only 1 3 4 $ $ $ $ Taxation Taxation from schedule 2LT (or requisitions from schedule 2UT) 1 196,902 22,689 78,402 95,811 Direct water billings on ratepayers -- own municipality 2 38,256 38,256 -- other municipalities 3 12,190 12,190 Sewer surcharge on direct water billings -- own municipality4 -- other municipalities 5 Subtotal 6 247,348 22,689 78,402 146,257 Payments in lieu of taxes Canada 7 Canada enterprises 8 Ontario The Municipal Tax Assistance Act 9 The Municipal Act, section 160 10 Other 11 Ontario enterprises Ontario Housing Corporation 12 Ontario Hydro 13 Liquor Control Board of Ontario 14 Other 15 Municipal enterprises 16 Other municipalities and enterprises 17 Subtotal 18 0 0 0 0 Ontario unconditional grants Per household general 19 4,950 4,950 Per household police 20 Transitional and special assistance 22 Resource equalization 23 24,052 24,052 General support 24 7,637 7,637 Northern special support 25 Apportionment guarantee 26 Revenue guarantee 27 Subtotal 28 36,639 0 0 36,639 Revenues for specific functions Ontario specific grants 29 19,434 19,434 Canada specific grants 30 1,785 1,785 Other municipalities--grants and fees 31 1,682 1,682 Fees,service charges and donations 32 19,073 19,073 Subtotal 33 41,974 0 0 41,974 Other revenue Trailer revenue and licences 34 Licences and permits 35 4,284 4,284. Fines 37 Penalties and interest on taxes 38 8,284 8,284 Investment income--from own funds 39 --other 40 17,649 17,649 Sale of publications, equipment, etc. 42 Contributions from capital fund 43 Contributions from reserves and reserve funds 44 Contributions from non consolidated entities 45 46 47 Sale of land 49 501 501 Subtotal 50 30,718 0 0 30,718 Total revenue 51 356,679 22,689 78,402 255,588 for the year ended December 31, 1990 numnpanty ill OF VIENNA (4) LOCAL TAXABLE ASSESSMENT MILL RATES TAXES LEVIED SUPPLEMENTARY TAXES TOTAL TAXES for commercial computer residential commercial residential industrial and residential commercial residential commercial total use only and farm and industrial business and farm business and farm and industrial business and farm and industrial business columns 6 to 11 1 2 3 4 5 6 7 8 9 10 11 12 I. Own purposes $ $ $ $ $ 8 E $ N E (a) Levied by mill rate General 0 1 0 1 0 439,210 65,626 18,520 157.640 185.459 69,237 12,171 3,435 500 1,030 1,694 88,067 police villages at reduced rates 0 1 0 2 farms at reduced rates 0 1 00 3_ T.- 01---- Special area rates and police villages l • 1--- 1--- 1---- 1--- 1 - --- Subtotal levied by mill rate 0 1 4 0 0 1 69,237 12,171 3,435 500 1,030 1,694 88,067 (b) Other charges on tax bills Share of telephone and telegraph taxation 0 1 2 1 0 2 2,661 2,661 Local improvements 0 1 2 2 0 Sewer and water service charges 0 1 2 3 0 Sewer and water connection charges 0 1 2 4 0 4,784 299 5,083 Fire service charges 0 1 2 5 0 Minimum tax(differential only) 0 1 2 6 0 Municipal drainage charges 0 1 2 7 0 Garbage collection charges 0 1 2 8 0 Business improvement area 0 1 2 9 0 XXXXXXXXXXXXX XXXXXXXXXXXXX 0Subtotal special charges on tax bills 0 1 3 1 0 3 4,784 2,960 7,744 Total own purposes taxation 0 1 3 2 0 4 74,021 15,131 3,435 500 1,030 1,694 95,811 II. Upper tier purposes (a) Levied by mill rate General 0 2 0 1 0 439,210 65,626 18,520 39.583 46.569 17,385 3,056 862 126 255 406 22,090 Special purposes 02 02--- - - 02--- 02 - --- Subtotal levied by mill rate 2 4 0 0 5 17,385 3,056 862 126 255 406 22,090 (b) Other charges on tax bills Share of telephone and telegraph taxation 2 2 1 0 6 599 599 Local improvements 2 2 2 0 Sewer and water service charges 2 2 3 0 Sewer and water connection charges 2 2 4 0 Fire service charges 22 2 5 0 Subtotal special charges on tax bills 2 3 1•0 7 599 599 Total upper tier taxation 2 3 2 0 8 17,385 3,655 862 126 255 406 22,689 III. School board purposes Elementary public 0 3 0 1 423,665 65,626 18,520 72.236 85.015 30,615 5,579 • 1,574 229 119 594 38,710 0301- - Share of telephone and telegraph taxation 0 3 2 1 0 9 960 960 Subtotal elementary public 0 3 3 2 0 10 30,615 6,539 1,574 229 119 594 39,670 Elementary separate 0 4 0 1- _ 15,545 80.864 95.134 1,257 377 111 1,745 0Share of telephone and telegraph taxation 0 4 2 1 '0 18. 11 11 Subtotal elementary separate 0 4 3 2 0 11 1,257 11 377 111 1,756 Secondary public 0 5 0 1- 423,665 65,626 18,520 64.979 76.446 27,529 5,017 1,416 206 111 553 34,832 0 ' Share of telephone and telegraph taxation 0 5 2 1 0 12 955 955 Subtotal secondary public 0 5 3 2 0 16 27,529 5,972 1,416 206 111 553 35,787 Secondary separate 0 7 0 1- 15 ,545 54.681 . 64.331 850 255 75 1,180 0Share of telephone and telegraph taxation 0 7 2 1 0 19 9 9 Subtotal secondary separate 0 7 3 2 0 17 850 9 255 75 1,189 Total all school board taxation 0 8 3 2 0 14 60,251 12,531 2,990 435 862 1,333 78,402 ANALYSIS OF CURRENT REVENUE Municipality 3 FOR SPECIFIC FUNCTIONS VILLAGE OF VIENNA (7) for the year ended December 31, 1990 other municipalities- fees, service specific Canada grants,tees,and charges and grants grants service charges donations 1 2 3 4 $ $ $ $ General government 1 255 7,706 Protection to persons and property Fire 2 Police 3 Conservation authority 4 Protective inspection and control 55 Subtotal 7 0 0 0 0 Transportation services Roadways 8 13,522 1,682 Winter control 9 Transit 10 Parking 11 Street lighting 12 Air transportation 13 Subtotal 15 13,522 0 1,682 0 Environmental services Sanitary sewer system 16 Storm sewer system 17 Waterworks system 18 1,138 Garbage collection 19 Garbage disposal 20 Pollution control 21 Subtotal 23 0 0 0 1,138 Health services Public health services 24 Public health inspections 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 nurses 34 35 Subtotal 36 0 0 0 0 Recreation and cultural services Parks and recreation 37 5,657 9,750 Libraries 38 Other cultural 39 1,785 479 Subtotal 40 5,657 1,785 0 10,229 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agriculture and reforestation 44 Tile drainage/shoreline assistance 4465 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Subtotal 47 0 0 0 0 Electricity 48 Gas 49 Telephone 50 Total 51 19,434 1,785 1,682 19,073 municipality a EXPENDITURES materials, VILLAGE OF VIENNA (8) for the year ended December 31, 1990 salaries, services, wages and rents and transfers inter- employee net long term financial to own other functional total benefits debt charges expenses funds transfers transfers expenditure 1 2 3 4 5 6 7 8 $ $ $ $ $ $ $ $ Total of column 2 includes: General Government 1 15,620 29,152 10,000 54,772 1 Payments to Ontario in respect of Down- town Revialization Program loans 81 Protection to persons and property Fire 2 2,500 2,500 2 Accrued interest (enter an amount only Police 3 3 if the change to the accrual basis Conservation authority 4 850 850 4 was made in this reporting year) 82 Protective inspection and control 5 3,911 3,911 5 6 6 Interest portion of transit debt charges Subtotal 7 0 0 3,911 0 3,350 0 7,261 7 included on line 10 83 Transportation services Roadways 8 7,218 3,708 30,498 41,424 8 Total of column 3 includes: Wintercontrol] 10 2 ,671 2,671 9 Ministry of the Environment 10 Provincial projects service charges Parking11 11 --water 52 2,019 Street lighting12 100 3,872 13,125 17,097 12 --sewer 53 Air transportation 13 13 Provincial projects frontage and 14 14 connection charges--water 57 5,658 Subtotal 15 7,318 0 10,251 43,623 0 0 61,192 15 --sewer 58 Joint projects operating charges Environmental services Sanitary sewer system 16 16 --sewer 55 Storm sewer system 17 41,000 41,000 17 O.P.P. policing contracts 56 Waterworks system 18 3,132 48,481 1,000 52,613 18 Short term interest costs .60 Garbage collection 19 9,356 9,356 19 Garbage disposal 20 8,049 8,049 20 Total of column 5 includes: Pollution control 21 21 Grants to charitable and non-profit 22 22 organizations 62 Subtotal 23 3,132 0 65,886 42.000 0 0 111,018 23 Grants to universities and colleges 63 Contributions to UNCONSOLIDATED Health services . joint local boards Public health services 24 24 ealth unit 64 Public health inspections and control 25 25 District welfare board 65 Hospitals 26 26 Home for the aged 66 Ambulance services 27 27 Recreation board(s) 67 Cemeteries 28 28 Fire area board 68 29 29 Suburban roads commission 69 Subtotal 30 0 0 0 0 0 0 0 30 Social and family services General assistance 31 31 Assistance to aged persons 32 32 Line 1 of column 7 includes: Assistance to children 33 33 Members of council 72 5,315 Day nurseries 3435 34 1 Subtotal 36 0 0 0 0 0 0 0 36 Line 51 of column 7 includes: Payments in respect of long term con- Recreation and cultural services mitments and liabilities financed Parks and recreation 37 3,015 10,476 13,491 37 from revenue, as approved by the • Libraries 38 1,773 1,773 38 Ontario Municipal Board, Exclude Other cultural 39 5,168 2,749 7,917 39 debt charges reported in column 2. ' 73 Subtotal 40 3,015 0 17,417 2,749 0 0 23,181 40 Planning and development Planning and zoning 41 4,325 4,325 41 Commercial and industrial 42 42 Residential development 43 43 Agriculture and reforestation 44 44 Tile drainage/shoreline assistance 45 \\\\\\\\\\\\\\\ \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 45 Subtotal 47 0 0 0 4,325 0 0 4,325 47 Electricity 48 48 49 Telephone 49 50 Total 51 29,085 0 126,617 102,697 3,350 0 261,749 51 ANALYSIS OF CAPITAL OPERATIONS Municipality 5 VILLAGE OF VIENNA (9) for the year ended December 31, 1990 1 $ Unfinanced capital outlay (Unexpended capital financing) at the beginning of the year 1 0 Sources of financing Contributions from own funds 3 50,697 Revenue fund Reserve and reserve funds Subtotal 4 50,697 Long tern liabilities incurred 5 Central Mortgage and Housing Corporation 7 Ontario Municipal Improvement Corporation Commercial Area Improvement Program 9 Other Ontario housing programs 10 Ministry of the Environment Tile drainage and shoreline property assistance programs The Public Serial debentures 13 Sinking fund debentures 14 15 16 17 Subtotal` 18 0 Grants and loan forgiveness Ontario 20 17,900 Canada 22 Other municipalities Subtotal 23 17,900 Other financing Prepaid special charges 24 Proceeds from sale of fixed assets 25 3,200 Investment income From own funds 26 Other 27 Donations 288 15,964 31 Subtotal 32 19,164 Total sources of financing 33 87,761 Applications Own expenditures Short term interest costs 34 Other 35 86,615 Subtotal 36 86,615 Transfers of proceeds form long term liabilities to: Other municipalities 37 Unconsolidated local boards 38 Individuals 39 Subtotal 40 0 Transfers to reserves, reserve funds and the revenue fund 41 Total applications 42 86,615 Unfinanced capital outlay (Unexpended capital financing) at the end of the year 43 ( 1,146 ) Amount reported in line 43 analysed as follows: 44 ( 1,146) Unapplied capital receipts To be recovered from: --taxation or user charges within term of council 45 --proceeds from long term liabilities 46 --transfers from reserves and reserve funds 4847 --other (specify) Total unfinanced capital outlay (unexpended capital financing) 49 ( 1,146) `amount in line 18 raised on behalf of other municipalities 19 ANALYSIS OF CAPITAL GRANTS Municipality 6 AND OWN EXPENDITURES VILLAGE OF VIENNA (10) for the year ended December 31, 1990 CAPITAL GRANTS TOTAL Ontario Canada Other OWN grants grants municipalities EXPENDITURES 1 2 3 4 $ $ $ $ General government 1 8,818 Protection to persons and property Fire 2 Police 3 Conservation authority 4 Protective inspection and control 55 Subtotal 7 0 0 0 0 Transportation services Roadways 8 5,500 39,198 Winter control 9 Transit 10 Parki11 Streetglighting 12 4,375 17,500 Air transportation 13 14 Subtotal 15 9,875 0 0 56,698 Environmental services Sanitary sewer system 16 Storm sewer system 17 Waterworks system 18 Garbage collection 19 Garbage disposal 20 Pollution control 21 Subtotal 23 0 0 0 0 Health services Public health services 24 Public health inspections and control 25 Hospitals 26 Ambulance services 27 Cemeteries 28 Subtotal 29 0 0 0 0 Social and family services General assistance 31 Assistance to aged persons 32 Assistance to children 33 Day nurses 334 5 Subtotal 36 0 0 0 0 Recreation and cultural services Parks and recreation 37 Libraries 38 Other cultural 39 5,625 14,374 Subtotal 40 5,625 0 0 14,374 Planning and development Planning and zoning 41 2,400 6,725 Commercial and industrial 42 Residential development 43 Agriculture and reforestation 44 Tile drainage/shoreline assistance 46 5 XXXXXXXXXXXX XXXXXXXXXXXX XXXXXXXXXXXX XXXXXXXXXXXX Subtotal 47 2,400 0 0 6,725 Electricity 48 Gas 49 Telephone 50 Total 51 17,900 0 0 86,615 ANALYSIS OF NET LONG TERM Municipality 7 LIABILITIES BY FUNCTION VILLAGE OF VIENNA (11) for the year ended December 31, 1990 1 $ General government 1 Protection to persons and property 2 Fire 3 Police 4 Conservation authority 5 Protective inspection and control 6 Subtotal 7 0 Transportation services 8 Roadways Winter control 109 Transit 11 Parking Street lighting 1213 Air transportation 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 22 Subtotal 23 0 Health services Public health services Public health inspections and control 25 Hospitals Ambulance services 28 7 Cemeteries 28 Subtotal 30 0 Social and fanily services General assistance 31 Assistance to aged persons 32 Assistance to children 33 34 Day nurseries 35 Subtotal 36 0 Recreation and cultural services Parks and recreation 3837 Libraries 39 Other cultural Subtotal 40 0 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agriculture and reforestation Tile drainage/shoreline assistance 45 Subtotal 47 0 Electricity 48 Gas 49 Telephone Total 511 0 LIABILITIES AND COMMITMENTS V8 VILLAGE OF VIENNA (12) for the year ended December 31, 1990 1 6. Ministry of the Environment Provincial Projects 1. Calculation of debt burden of the munici alit $ accumulated total outstanding debt All debt issued by the municipality, predecessor municipalities and surplus(deficit) capital obligation charges consolidated entities $ : To Ontario and agencies 1 0 Water projects--for this municipality only 46 1$438 71,116 7,418 • :.To Canada and agencies 2 0 --share of integrated project(s) 47 77,404 75,674 7,302 : To other 3 0 Sewer projects--for this municipality only 48 0 0 0 Subtotal 4 0 --share of integrated project(s) 49 0 0 0 Plus: All debt assumed by the municipality from others 5 0 principal interest Less: All debt assumed by others 7. 1990 Debt Charges $ $ : Ontario 6 0 Recoverable from the consolidated revenue fund : Schoolboards 7 0 --general tax rates 50 0 0 : Other municipalities 8 0 --special area rates and special charges 51 0 0 Subtotal 9 0 --benefitting landowners 52 0 0 Less: Ministry of the Environment debt retirement funds --user rates(consolidated entities) 53 0 0 --sewer 10 0 Recovered from reserve funds 54 0 0 --water 11 0 Recovered from unconsolidated entities Own sinking funds (actual balances) --hydro 55 0 0 --generalmunicipal 12 0 --gas and telephone 57 0 0 --enterprises and other 13 0 56 0 0 Subtotal 14 0 58 0 0 Total 15 0 Total 59 0 0 Amount reported in line 15 analysed as follows: Sinkingfund debentures 16 0 8. Future principal and interest payments on existing net debt Installment (serial) debentures 17 0 Long term bank loans 18 0 recoverable from the recoverable from recoverable from Lease purchase agreements 19 0 consolidated revenue fund reserve funds unconsolidated entities Mortgages 20 0 principal interest principal interestinterest Ministry of the Environment 22 0 1 2 p 3 4 principal 6 24 0 1991 60 $ 0 $ 0 $ 0 $ $ 0 0 0 1992 61 0 0 0 0 0 $ 1993 62 0 0 0 0 0 2. Total debt payable in foreign currencies (net of sinking fund holdings) 1994 63 0 0 0 0 0 U.S. dollars--Canadian dollar equivalent included in line 15 above 25 0 1995 64 0 0 0 0 0 --par value of this amount in U.S. dollars 26 0 1996-2000 65 0 0 0 0 0 Other --Canadian dollar equivalent included in line 15 above 27 0 2001 onwards 79 0 0 0 0 0 --par value of this amount in 28 0 Interest to be earned on sinking funds ' 69 0 0 0 0 0 3. Interest earned on sinking funds and debt retirement funds during the year $ Downtown revital • - Own funds 29 0 ization program 70 0 0 0 0 0 Ministry of the Environment--sewer 30 0 --water 31 0 Total 71 0 0 0 0 0 $ ` includes interest to be earned on Ministry of the Environment debt retirement funds 4. Actuarial balance of own sinking funds at year end 32 0 9. Future principal payments on expected new debt 5. Long term commitments and contingencies at year end $ $ Total liability for accumulated sick pay credits 33 0 1991 72 $ 0 • Total liability under OMERS plans 1992 73 0 --initial unfunded (payable over years)(number of employees ) 34 0. 1993 74 0 --actuarial deficiency (payable over years) 35 0 1994 75 0 Total liability for own pension funds 1995 76 0 --initial unfunded(payable over years)(number of employees ) 36 0 Total 77 0 --actuarial deficiency (payable over years) 37 0 Outstanding loans guaranteed (payable over years) 38 0 Commitments and liabilities financed from revenue, as approved by 10. Other notes(attach supporting schedule as required) the Ontario Municipal Board --hospital support 39 0 --university support 40 0 --leases and other agreements 41 0 Other(specify) . 42 0 43 0 . 44 0 Total 45 0 Municipality (13 SCH00 BOARD LEVIES VILLAGE OF 4IERNA (13) for t�e year ended December 31, 1990 telephone share of balance at and share of payments balance beginning amounts supplementary total amount. telegraph Provincial in lieu of total at end or year requisitioned taxes expended levied taxation grants taxes other raised of year UPPER TIER 1 2 3 4 5 6 8 9 10 12 11 $ .. Included in general mill rate for upper tier purposes $ $ $ $ $ $ $ $ $ $ General requisition 1 21,326 787 22,113 Special purpose requisistions Water rate 2 Transit rate 3 Sewer rate 4 Library rate 5 Road rate 6 7 e 9 10 Sub total levied by mill rate--general 11 ( 1) 21,326 787 22,113 22,090 22,090 ( 24) 11 Special purpose requisistions Water 12 Transit 13 - Sewer 14 Library 15 16 17 Sub total levied by mill rate--special areas 18 Special charges 19 599 599 599 19 Direct water billings 20 PO Sewer surcharge on direct water billings • 21 21 Total region or county 22 ( 1) 21,326 787 22,113 22,090 599 22,689 575 22 pupils' telephone share of pupils' balance at fees, share and pa meats fees, share balance beginning amounts supplementary of,trailer total amount tel in lieu of of trailer total at end o year requisitioned taxes locates expended levied taxation taxes licences raised of year SCHOOL BOARDS 1 2 3 4 5 6 7 8 9 10 11 Elementary public $ $ $ $ $ $ $ $ $ $ $ ELGIII CTY BOARD OF EDUCATION 30 38,729 942 39,671 38,710 960 39,670 ( 1) 30 31 Elementary separate ELGIN CTY R.C.S.S. BOARD 440 1,279 487 1,766 1,745 11 1,756 ( 10) 40 142 42 Secondary public ELGIII CTY BOARD OF EDUCATION 50 ( 1) 34,916 870 35,786 34,832 955 35,787 50 51Secondary separate 51 ELGIN CTY R.C.S.S. BOARD 70 868 330 1,198 1,180 9 1,189 ( 9) 70 72 72 Total school boards 36 ( 1) 75,792 2,629 78,421 76,467 1,935 78,402 ( 20) 36 CONTINUITY OF RESERVES Municipality 10 AND RESERVE FUNDS VILLAGE OF VIENNA (15) for the year ended December 31, 1990 1 $ Balance at beginning of year 1 131,713 Revenues Contributions from revenue fund 2 52,000 Contributions from capital fund 3 Lot Levies and subdivider contributions 60 Recreational land (the Planning Act) 61 Investment income--from own funds 5 --other 6 10 11 12 Total revenue 13 52,000 Expentitures Transferred to capital fund 14 Transferred to revenue fund 15 Charges for long term liabilities--principal and interest 63 20 21 Total expenditure 22 0 Balance at end of year for: Reserves 23 183,713 Reserve Funds 24 Total 25 183,713 analysed as follows: Working funds 26 65,000 Contingencies 27 Ministry of the Environment fund for renewals, etc. --sewer 28 Rep-lacement of equipment 30 27,800 Sick leave 31 Insurance 32 Workmen's compensation 33 Capital expenditure--general administration 34 --roads 35 --sanitary and storm sewers 36 74,700 --parks and recreation 64 --libra--othercultural65y 6 14,213 --water 38 2,000 --transit 39 --housing 40 --industrial development 41 --other and unspecified 42 Lot levies and subdivider contributions 44 Recreational land (the Planning Act) 46 Parking revenues 45 Debenture repayment 47 Exchange rate stabilization 48 Waterworks current purposes 49 Transit current purposes 50 Library current purposes 51 53 54 55 56 57 Total 58 183,713 ANALYSIS OF Municipality 11 CONSOLIDATED YEAR END VILLAGE OF VIENNA (16) BALANCES for the year ended December 31, 1990 1 2 $ portion of$cash ASSETS not in Current assets chartered banks Cash 1 153,450 153,450 Accounts Receivable Canada Ontario 3 22,00020 Region or county Other municipalities 5 10,611 School Boards 6 1,189 portion of taxes Waterworks 7 786 receivable for Other (including unorganized areas) 8 1,659 business taxes Taxes receivable Current year's levies 109 25 ,643 1 ,632 Previous year's levies 3 Prior years'levies 894 Penalties and interest 1281 ,575 50 Less allowance for uncollectables 13 Investments (market value $ 0) 14 Canada Provincial 15 Municipal 16 Other 17 portion of line 20 Other current assets 18 5,798 for tax sale/tax Capital outlay to be recovered in future years 199 registration Other long term assets Total 21 262,594 portion of loans LIABILITIES not from Current liabilities chartered banks Temporary loans--current purposes 22 --capital--Ontario 23 --Canada 24 --Other Accounts payable and accrued liabilities Canada 6 Ontario 27 3,493 Region or county Other municipalities 29 2,500 School boards Trade accounts payable 30 28,243 Other 32 8,500 Other current liabilities 33 Net long term liabilities Recoverable from the Consolidated Revenue Fund --general tax rates 3634 --special area rates and special charges --benefitting landowners --user rates (consolidated entities) 37 Recoverable from Reserve funds 38 Recoverable from unconsolidated entities 39 Less: Own holdings 40 Reserves and reserve funds 41 183,713 Accumulated net revenue (deficit) General revenue 42 24,136 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 BOARD 52 10,308 54 55 Region Schooll boards or county 56 575 57 ( 1,146 ) Unexpended capital financing/(unfinanced capital outlay) Total 59 262,594 -. VILLAGE OF VIENNA (1)) 1 7. Analysis of direct water and sewer billings as at December 31 1. Number of continuous full time employees as at December 31 water Administration 1 0 number of 1990 billings Non-line Departmental Support Staff 2 0 residential residential all other Fire 3 00 units 1 units 2 properties 4 Police Transit 5 0 Public Works 6 0 In this municipality 39 126 34,512 3,744 Health Services 7 0 In other municipalities (specify municipality) Homes for the Aged 88 00 TOWNSHIP OF BAYNAM 404 24 5,961 6,2299 Other Social Services Parks and Recreation 10 0 42 0 0 0 Libraries 11 0 43 0 0 0 Planning 12 0 64 0 0 0 Total 13 0 sewer number of 1990 billings residential residential all other continuous full units units properties time employees 1 2 3 December 31 Other $ $ 1 2 In this municipality44 0 0 0 2. Total expenditures during the year on: $ $ In other municipalities (specify municipality) Wages and salaries 14 0 29,575 45 0 0 0 Employee benefits 15 0 922 46 0 0 0 47 0 0 0 1 3. Reductions of tax roll during the year(lower tier municipalities only) $ 48 0 0 water 0 sewer Cash collections: Current year's tax 16 168,693 Number of residential units in this municipality receiving municipal 1 2 Previous years' tax 17 14,722 water and sewer services but which are not on direct billing 66 0 0 Penalties and interest 18 8,284 Subtotal 19 191,699 8. Selected investments of own sinking funds as at December 31 other • Discounts allowed 20 0 own municipalities, Tax adjustments under section 362 and 363 of the Municipal Act municipality school boards Province Federal --amounts added to the roll 22 ( 0) 1 2 3 4 --amounts written off 23 0 Tax adjustments under sections 465,495 and 496 of the Municipal Act Own sinking funds 83 $ 0 $ 0 $ 0 $ 0 --recoverable from upper tier and school boards 24 1,532 --recoverable from general municipal revenues 25 .1,438 9. Borrowing from own reserve funds 1 Transfers to tax sale and tax registration accounts 26 0 $ The Municipal Elderly Residents' Assistance Act--r--reductio ns 27 00 Loans or advances due to reserve funds as at December 31 84 0 Other(specify) 80 0 10. Joint boards consolidated by this municipality this municipal- Total reductions 29 194,669 contribution ity's share of for total board from this total municipal computer Amounts added to the tax roll for collection purposes only 30 405 expenditure municipality contributions use onlyy Business taxes written off under subsection 495(1) of the Municipal Act 81 0 1 2 3 $ $ t 1 name of joint boards 4. Tax due dates for 1990 (lower tier municipalities only) 53 0 0 0 Interim billings: Number of installments 31 2 54 0 0 0 Due date of first installment (MIDDY?) 32 22790 55 0 0 0 Due date of last installment (MMDDYY) 33 53190 56 0 0 0 Final billings: Number of installments 34 2 57 0 0 0 Due date of first installment (MIDDY?) 35 83090 Due date of last installment (MIDDY?) 36 111590 11. Applications to the Ontario Municipal Board tile drainage, shoreline assist- Supplementary taxes levied with 1991 due date 37$ 0 • ante, downtown revitalization, S. Projected capital expenditures and long term long term financing requirements electricity, financing requirements as at December 31 gas, telephone other total approved submitted but forecast not yet 1 2 3 gross by the not yet approved submitted $ $ $ expenditure O.M.B. by the O.M.B. to the O.M.B. Approved but not financed as at Dec. 31, 1989 67 0 0 0 1 2 3 4 Approved in 1990 68 0 0 0 Estimated to take place $ $ $ $ Financed in 1990 69 0 0 0 In 1991 58 0 0 0 No long term financing necessary 70 0 0 0 In 1992 59 0 0 0 Balance approved but not financed as at Dec.31,1990 71 0 0 0 1n 1993 60 0 0 0 In 1994 61 0 0 0 In 1995 62 0 0 0 Applications submitted but not approved Total 63 0 0 0 as at December 31, 1990 72 0 0 0 12. Forecast of total revenue fund expenditures balance in fund loans outstanding 1991 1992 1993 19994 1995 6. Ontario Home Renewal Plan trust fund at year end 82 26,853 7$600 73 $ 0 $ 0 $ 0 $ 0 $ 0 Municipality AUDITOR'S REPORT VILLAGE OF VIENNA To the Ministry of Municipal Affairs We have examined grant information Schedule 13 of the Financial Information Return of The Corporation of the Village of Vienna for the year ended December 31, 1990. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests and other procedures as we considered necessary in the circumstances. In our opinion, this schedule presents fairly the grant information shown therein, in accordance with instructions issued by the Ministry of Municipal Affairs for the year 1990. St. Thomas, Canada February 19, 1991 ,Patti4/ Licence Number 001120 CHARTERED ACCOUNTANTS GRANT INFORMATION Municipality 13 VILLAGE OF VIENNA (18) for the year ended December 31, 1990 ANALYSIS OF REVENUE FUND REVENUES Note: Upper tiers use column 4 only. upper tier own purposes purposes 2 4 $ $ Taxation 4 38,256 Direct water billings on ratepayers - own municipality Sewer surcharge on direct water billings - own municipality Payments in lieu of taxes 18 Subtotal ANALYSIS OF TAXATION 2LT LOCAL TAXABLE ASSESSMENT residential commercial and farn and industrial business I. Own purposes 1 2 3 (a) Levied by mill rate g g General 30 439 ,210 65,626 18,520 police villages at reduced rates farns at reduced rates 32 ///////////// //I////////// TAXES LEVIED commercial and industrial business total 7 8 12 Subtotal levied by mill rate 1 12,171 3,L5 ///////////// Share of telephone and telegraph taxation 2 ///////////// /////////////// 92,661 Total own purposes taxation II. Upper tier purposes Subtotal levied by nill rate 5 3,056 862 ///////////// Sharel of telephoner ando telegraph taxation 6 ////////////� //////////// 22,689 Total upper tier taxation ANALYSIS OF CAPITAL OPERATIONS 5 1 $ Other financing 24 Prepaid special charges FINANCIAL REPORT 1990 THE CORPORATION OF THE VILLAGE OF VIENNA COUNTY OF ELGIN Barker Stanley & Partners Chartered Accountants AUDITORS ' REPORT To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Village of Vienna, Ontario We have audited the balance sheet of the Corporation of the Village of Vienna as at December 31, 1990 and the 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 financial statements present fairly, in all material respects, the financial postion of the Village as at December 31, 1990 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. Saidadie " St. Thomas, Ontario February 19, 1991 CHARTERED ACCOUNTANTS Statement 1 THE MUNICIPALITY OF THE VILLAGE OF VIENNA CONSOLIDATED BALANCE SHEET AS AT DECEMBER 31, 1990 Assets 1990 1989 $ $ Unrestricted Cash 143, 237 96, 588 Short term investments 6,000 30, 250 Taxes receivable 67,075 55, 015 User charges receivable 786 518 Accounts receivable 35, 503 18, 732 Other current assets 5, 171 6, 707 Due from trust funds - 2, 102 Long term investment 4, 213 4, 213 Mortgage receivable 625 1, 250 262,610 215,375 Liabilities and Fund Balances Accounts payable and accrued liabilities 43,309 43, 059 Fund balances at the end of the year To be used to offset taxation or user charges (Note 4) 34,442 40, 603 Unexpended capital financing (or capital operations not yet permanently financed) 1, 146 - Reserves (Note 5 ) 183, 713 131, 713 262,610 215, 375 See accompanying notes to the financial statements. THE MUNICIPALITY OF THE VILLAGE OF VIENNA CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 1990 Budget Actual Actual 1990 1990 1989 $ $ $ Sources of financing Taxation and user charges (Note 1 ) Residential and farm taxation 148,374 147,934 128, 512 Commercial, industrial and business taxation 36, 772 43, 884 39, 738 User charges 70, 877 78,886 76, 957 Deduct Amounts received or receivable for county and school boards (Note 2) ( 95, 142) (101,091) (83, 983 ) Grants Canada 1, 785 1, 785 - Province of Ontario 84, 547 73,974 70, 716 Other municipalities 1, 700 1,682 1, 607 Other Investment income 12, 000 17,649 9, 691 Donation of land 10, 500 6,000 12, 000 Other 12,000 21, 949 9, 801 Fund balances at the beginning of the year To be used to offset (or to be recovered from) taxation or user charges (Note 4) 40, 603 40,603 34,385 Total financing available during the year 324, 016 333, 255 299,424 See accompanying notes to the financial statements. n- Statement 2 U Budget Actual Actual 1990 1990 1989 $ $ $ Applied to Current operations General government 42, 500 44,771 40, 999 Protection to persons and property 13,000 7, 261 12, 754 Transportation services 27, 900 17, 568 18, 306 Environmental services 87, 500 69,018 74, 162 Recreation and cultural services 15,000 20,432 15, 423 Planning and development - - 10, 332 185,900 159,050 171, 976 Capital General government - 8,816 - Transportation services 50, 616 53,498 40, 655 Recreation and cultural services 25, 500 17, 574 1, 490 Planning and development 10,000 6, 725 - 86, 116 86,613 42, 145 Net appropriations to reserves 52,000 52,000 44, 700 Fund balances at the end of the year To be used to offset (or to be recovered from) taxation or user charges (Note 4) - 34,442 40, 603 Unexpended capital financing (or capital operations not yet permanently financed) - 1, 146 - Total applications during the year 324,016 333, 255 299,424 See accompanying notes to the financial statements. THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1990 1. 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 judgements. a) Basis of consolidation (i) Consolidated balance sheet This statement reflects the assets and liabilities of the revenue fund, reserve funds, the capital fund and includes the activities of all committees of Council and the following local boards, municipal enterprises 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, reserve funds and the capital fund of the Municipality and those local 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 and 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 except to the extent that overlevies (underlevies) are reported on the "Consolidated Balance Sheet" as "other current liabilities" ( "other current assets" ) . Page 2 THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1990 a) Basis of consolidation - (continued) (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" . 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, expenditures and overlevies (underlevies) of the school boards and the County of Elgin are comprised of the following: Page 3 THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1990 2. Operations of school boards and County of Elgin - (continued) School County Boards of Elgin Taxation and user charges $ 78, 402 $ 22, 689 Requisitions 78,421 22, 113 Overlevies (underlevies) for the year ( 19 ) 576 Overlevies (underlevies) at the beginning of the year ( 1 ) ( 1 ) Overlevies (underlevies) at the end of the year $ (20) $ 575 3. Trust funds Trust funds administered by the Municipality amounting to $26, 853 ( 1989 - $26, 872) have not been included in the "Consolidated Balance Sheet" nor have their operations been included in the "Consolidated Statement of Operations. 4. Fund balance at the end of the year 1990 1989 $ $ The balance on the "Consolidated Statement of Operations" of municipal equity of $34,442 ( 1989 - $40, 603 ) at the end of the year is comprised of the following: For general reduction of taxation 34,442 40, 603 5. Reserves and reserve funds The total balance of reserves of $183, 713 ( 1989 - $131, 713) are made up of the following: /f76 tyk, 19$9- —1-9-843- _ $ Set aside for specific purposes by Council for acquisition of fixed assets 104, 500 62, 500 for working capital 65,000 55, 000 for museum purposes 14, 213 14, 213 183,713 131, 713 Page 4 THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1990 6. Contractual obligation - 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 1990 charges from the Ministry - water $47,083. 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, 1990, indicates the following: Total Accumulated 1990 outstanding net debt long-term (deficit) charges liabilities $ $ $ Water system - for this municipality only 1, 438 7, 418 71, 116 Water system - share of integrated project 77,404 7, 302 75, 674 The operating deficits and long-term liabilities indicated above are not reflected in the accompanying financial statements.