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HomeMy WebLinkAboutFinancial Statements 1989 THE CORPORATION OF THE VILLAGE OF VIENNA UNCONSOLIDATED TRUST FUND FINANCIAL STATEMENTS DECEMBER 31, 1989 Barker Stanley Si Partners Chartered Accountants AUDITORS ' REPORT To the Council, Inhabitants and Ratepayers of The Corporation of the Village of Vienna: We have examined the balance sheet of The Corporation of the Village of Vienna, Trust Fund as at December 31, 1989 and the statement of continuity of trust funds for the year then ended. 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, these financial statements present fairly the financial position of the Corporation of the Village of Vienna as at December 31, 1989 and the results of its operations and the changes in its financial position for the year then ended, in accordance with generally accepted accounting principles applied on a basis consistent with that of the preceding year. St. Thomas, Ontario &AP ✓ _ . tighoile February 15, 1990 Licence Number 001120 CHARTERED ACCOUNTANTS THE MUNICIPALITY OF THE VILLAGE OF VIENNA ONTARIO HOME RENEWAL PLAN TRUST FUND BALANCE SHEET DECEMBER 31, 1989 Assets 1989 1988 $ $ Cash 18,812 16, 966 O.H.R.P. loans repayable 3, 955 4, 549 O.H.R.P. loans forgivable 6,400 8, 800 29,167 30, 315 Liabilities Accounts payable 193 581 Due to revenue fund 2, 102 1, 779 Trust balance at end of year 26, 872 27, 955 29, 167 30, 315 STATEMENT OF CONTINUITY YEAR ENDED DECEMBER 31, 1989 1989 1988 $ $ Balance at beginning of year 27,955 28, 695 Interest earned on funds 1,319 862 Loans forgiven during year 2,400 1, 600 Administration fee 2 2 2,402 1, 602 Balance at end of year 26,872 27, 955 See accompanying notes to the financial statements. THE CORPORATION OF THE VILLAGE OF VIENNA TRUST FUND NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 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, 1989 comprise repayable loans of $3, 955 ( 1988 - $4, 549 ) and forgivable loans of $6, 400 ( 1988 - $8, 800) . 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. 1989 FINANCIAL INFORMATION RETURN MUNICIPALITY: VILLAGE of VIENNA in the Region, County or District of: ELGIN 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 X 2LT Analysis of Taxation X 2UT Analysis of Upper Tier Requisitions and Direct Charges — 2MA Analysis of Taxation in Merged Areas — 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 X 7 Analysis of Net Long Term Liabilities By Function 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 X 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 Barker Stanley & Partners (Auditor's firm or name of Municipality) John Scott Questions regarding the information contained in them should be addressed to Chartered Accountant at (519) 633-0700 (Area code and telephone) Date February 15 1990 Municipal Treasurer NI tin cpaUty ACCOUNTANT'S REPORT VILLAGE OF VIENNA To the Ministry of Municipal Affairs Our examination of the consolidated financial statements of the Corporation of the Village of Vienna for the year ended December 31, 1989 was made for the purpose of forming an opinion on the consolidated financial statements referred to in our auditor' s report to the Members of Council, Inhabitants and Ratepayers, dated February 15, 1990. Schedules 1 to 11 of the 1989 Financial Information Return have not been prepared on the same basis as the consolidated financial statements. For the purposes of this report we have performed, at your request, the following procedures in connection with Schedules 1 to 11 of the Financial Information Return of The Corporation of the Village of Vienna for the year ended December 31, 1989 : (a) We have compared the amounts disclosed on these schedules to the books and records of the City and found them to be in agreement; (b) We have added and cross-added all schedules and found no errors; and (c) We have checked the cross-references indicated in the "Cross-References to Other Schedules" section for each of the above- noted schedules, as outlined in the "Instructions for Completing the 1989 Financial Information Return" , and found all such cross-references to be in agreement. The above-noted procedures do not constitute an audit of these schedules. Therefore, we do not express an opinion on Schedules 1 to 11 of the 1989 Financial Information Return. St. Thomas, Canada sgaAAte Pt LI?"' February 15, 1990 Licence Number 001120 CHARTERED ACCOUNTANTS ANALYSIS OF REVENUE FUND Municipality REVENUES VILLAGE OF VIENNA (3) for the year ended December 31, 1988 . upper school total tier board own revenue purposes purposes purposes __ 13 Note: Upper tiers use column 4 only 4 $ $ $ $ Taxation Taxation from schedule 2LT (or requisitions from schedule 2UT) 1 168,333 19,217 61,887 87,229 Direct water billings on ratepayers -- own municipality 2 36,945 36,945 -- other municipalities 3 11,539 11,539 Sewer surcharge on direct water billings -- own municipality 4 -- other municiaplities 5 Subtotal 6 216,617 19,217 61,887 135,713 Payments in lieu of taxes Canada 7 Canada enterprises 8 Ontario • The Municipal Tax Assistance Act 9 The er Municipal Act, section 160 10 Ontario enterprises Ontario Housing Corporation 12 Ontario Hydro 13 5 Liquor Control Board of Ontario Other 14 Municipal enterprises 16 Other municipalities and enterprises 17 Subtotal 18 0 0 0 0 Ontario unconditional grants Per household general 19 4,380 4,380 Per household police 20 Per household density 21 Transitional and special assistance 22 Resource equalization 23 21,866 21,866 General support 24 8,442 8,442 Northern special support 25 Apportionment guarantee 26 Revenue guarantee 27 Subtotal 28 34,688 0 0 34,688 Revenues for specific functions Ontario specific grants 29 13,895 13,895 Canada specific.grants 30 1,800 1,800 Other municipalities--gragnts and fees 31 1,607 1,607 Fees,service charges and donations 32 32,144 32,144 Subtotal 33 49,446 0 0 49,446 Other revenue Trailer revenue and licences 34 Licences and permits 35 3,917 3,917 Fines 37 Penalties and interest on taxes 38 8,742 8,742 . Investment income--from own funds 39 9,690 9,690 --other 40 Sale of publications, equipment, etc, 42 225 225 Contributions from capital fund 43 Contributions from reserves and reserve funds 44 Contributions from non consolidated - - entities 45 OTHER 46 164 164 Sale of land 4847 9 Subtotal 50 22,738 0 0 22,738 Total revenue 51 323,689 19,217 61,887 242,585 ANALYSIS OF TAXATION Municioalit' 2LT for the year ended December 31, 1988 VILLAGE 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 $ $ $ $ $ $ $ $ $ $ (a) Levied by mill rate General 01010 402,761 72,095 21,235 150.985 177.630 60,810 (:12,806 (....3_,12i) 2,670 ( 530) 73 79,601 polmsicees erates s 0 1 0 3- ^� �\ . 01 - 01--- e ' cf .3 3 -36 165 78 Special area rates and police villagesl 01--- 01- - 01-- 01--- 01--- . --- Subtotal levied by mill rate 1 60,810 12a0. 3,772 2,670 ( 530) 73 79,601 (b) Other charges on tax bills Share of telephone and telegraph taxation 0 1 2 1 0 2 (2,54 2,545 Local improvements 0 1 2 2 0 r.7 Sewer and water service charges 0 1 2 3 0 ry 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 2 0080000000808 X 880008XXXXX 0Subtotal s ecial charges on tax bills 3 4,784 2,844 7,628 special own purposes taxation 0 1 3 2 0 4 65,59-0 15,650 3,772 2,670 ( 530) 73 87,229 II. Upper tier purposes (a) Levied by mill rate General 0 2 0 1 0 402,761 72,095 21,235 35.710 42.011 14,383 _.3,0 (-8-9-2.1) 631 ( 126) ( 167) 18,641 Special purposes 02 --, ''.39A ts 02--- 3ti - -- ; Subtotal levied by mill rate 5 14,383 T.,1-) 0 8 892 631 ( 126) ( 167) 18,641 (b) Other charges on tax bills Share of telephone and telegraph taxation 0 2 2 1 0 6 576 Local improvements 0 2 2 2 0 Sewer and water service charges 0 2 2 3 0 •,.5)/.2•� Sewer and water connection charges 0 2 2 4 0 Fire service charges 0 2 2 5 0 0 2 3 0 0 Subtotal special charges on tax bills 7 576 576 Total upper tier taxation 0 2 3 2 0 8 14,383 3,604 892 631 ( 126) ( 167) 19.217 III. School board purposes Elementary public ELGIN COUNTY BD OF EDUCATION 0 3 0 1 387 ,469 71,385 21,025 57.961 68.189 22,458 4,868 1,434 1,024 ( 205) ( 281) 29,298 - Share of telephone and telegraph taxation 0 3 2 1 0 9 907 907 Subtotal elementary public 10 22,458 5,775 1,434 1,024 ( 205) ( 281) 30,205 Elementary separate ELGIN R.C.S.S. BOARD 0 4 0 1 15, 292 710 210 63.086 74.219 965 53 16 1,034 0' - Subtotal elementary separate 11 965 53 16 1,034 Secondary public ELGIN COUNTY BD OF EDUCATION 0 5 0 1 387,469 71,385 21,025 57.296 67.406 22,200 4,812 1,417 1,012 ( 203) ( 237) 29.001 0501- . - Share of telephone and telegraph taxation 0 5 2 1 0 12 828 828 Subtotal secondary public 16 22,200 5,640 1,417 1,012 ( 203) ( 237) 29,829 Secondary separate ELGIN CTY 8.1.5.5. BOARD 0 7 0 1- 15 ,292 710 210 50.017 58.844 765 42 12 819 - Subtotal secondaryseparate 17 765 42 12 • 819 Total all school board taxation 0 3 2 0 14 46,388 11,510 2,879 2,036 ( 408) ( 518) 61,887 ANALYSIS OF CURRENT REVENUE Municipality FOR SPECIFIC FUNCTIONS VILLAGE OF VIENNA (7) for the year ended December 31, 1985 other Ontario municipalities- fees, service specific Canada grants,fees,and charges and grants grants service charges donations $ $ $ $ $ General government 1 250 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 s Wintercontrol 9 1,100 1,607 Transit Parking 101 Street lighting 12 Air transportation 13 14 Subtotal 15 7,645 0 1,607 0 Environmental services Sanitary sewer system 16 Storn sewer system 17 Waterworks system 18 4,493 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 0 0 0 4,493 Health services Public health services 24 Public health inspections and control 25 Hospitals 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 3786,000 8,764 Libraries 6,216 Other cultural 39 1,800 12,671 Subtotal 40 6,000 1,800 0 27,651 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agriculture and reforestation 44 Tile drainage/shoreline assistance 45 46 Subtotal 47 0 0 0 0 Electricity 48 Gas 49 Telephone 50 Total 51 13,895 1,800 1,607 32,144 RNALYSIS OF REVENUE FUND Municipality 4 EXPENDITURES materials, VILLAGE OF VIENNA (8) for the year ended December 31, 1984 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 18,088 20,789 10,000 48,877 1 Payments to Ontario in respect of Down- town Revialization Program loans 81 Protection to persons and property Fire 2 7,940 7,940 2 Accrued interest (enter an amount only Police 3 3 if the change to the accrual basis I Conservation authority 4 786 786 4 was made in this reporting year) 82 Protective inspection and control 5 4,028 4,028 5 6 6 Interest portion of transit debt charges Subtotal 7 7,940 0 4,028 0 786 0 12,754 7 included on line 10 83 Transportation services Roadways 8 5,539 6,410 20,321 32,270 8 Total of column 3 includes: Winter control] 9 2,184 2.184 9 Ministry of the Environment Transit 10 10 Provincial projects service charges Parking11 11 --water 52 1,899 Street lighting12 4,173 4,173 12 --sewer 53 Air transportation 13 13 Provincial projects frontage and 14 14 connection charges--water 57 5,658 Subtotal 15 5,539 0 12,767 20,321 0 0 38,627 15 --sewer 58 Joint projects operating charges Environmental services --water 54 Sanitary sewer system 16 16 --sewer 55 • Storm sewer system 17 17 0.P.P. policing contracts 56 Waterworks system 18 3,261 55,632 34,700 93,593 18 Short term interest costs 60 Garbage collection 19 10,124 • 10,124 19 Garbage disposal 20 5,145 5,145 20 Total of column 5 includes: Pollution control 21 21 Grants to charitable and non-profit 22 22 organizations 62 Subtotal 23 3,261 0 70,901 34,700 0 0 108,862 23 Grants to universities and colleges 63 Contributions to UNCONSOLIDATED Health services joint local boards Public health services 24 24 Health 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 345 35 34 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 3,190 8,896 12,086 37 from revenue, as approved by the Libraries 38 1,663 1,490 3,153 38 Ontario Municipal Board. Exclude Other cultural 39 1,674 1,674 39 debt charges reported in column 2. 73 Subtotal 40 3,190 0 12,233 1,490 0 0 16,913 40 Planning and development Planning and zoning 41 10,332 10,332 41 Commercial and industrial 42 42 Residential development 43 43 Agriculture and reforestation 44 44 Tile drainage/shoreline assistance 4546 45 6 Subtotal 47 0 0 10,332 0 0 0 10,332 47 4Electricity 4Gas 9 49 • Telephone 50 50 Total 51 38,018 0 131,050 66,511 786 0 236,365 51 ANALYSIS OF CAPITAL OPERATIONS Municipality 5 VILLAGE OF VIENNA (9) for the year ended December 31, 1988 1 Unfinanced capital outlay (Unexpended capital financing) at the beginning of the year 1 0 Sources of financing Contributions from own funds Revenue fund 2 21,811 Reserve and reserve funds 3 Subtotal 4 21,811 Long tern liabilities incurred Central Mortgage and Housing Corporation 5 Ontario Municipal Improvement Corporation 7 P.R.I.D.E. Program 60 Other Ontario housing programs 10 Ministry of the Environment 11 Tile drainage and shoreline property assistance programs 12 The Public Serial debentures 13 Sinking fund debentures 14 15 16 17 Subtotal* 18 0 Grants and loan forgiveness Ontario 20 20,333 Canada 21 Other municipalities 22 Subtotal 23 20,333 Other financing Prepaid special charges 24 Proceeds from sale of fixed assets 25 Investment income From own funds 26 Other 27 Donations 28 30 31 Subtotal 32 0 Total sources of financing 33 42,144 Applications Own expenditures Short tern interest costs 34 Other 35 42,144 Subtotal 36 42,144 Transfers of proceeds form long term liabilities to: Other municipalities 377 Unconsolidated local boards Individuals 39 Subtotal 40 0 Transfers to reserves, reserve funds and the revenue fund 41 Total applications 42 42,144 Unfinanced capital outlay (Unexpended capital financing) at the end of the year 43 0 _ . Amount reported in line 43 analysed as follows: Unapplied capital receipts 44 To be recovered from: --taxation or user charges within tern of council 45 --proceeds from long tern liabilities 46 --transfers from reserves and reserve funds 47 --other (specify) 48 Total unfinanced capital outlay (unexpended capital financing) 49 0 `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, 1981 CAPITAL GRANTS TOTAL Ontario Canada Other OWN grants grants municipalities EXPENDITURES 1 2 3 4 $ $ $ $ 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 0 0 Transportation services Roadways 8 20,333 40,654 Winter control 9 Transit 10 Parking 11 Street lighting 12 Air transportation 13 Subtotal 15 20,333 0 0 40,654 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 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 Libraries 38 1,490 Other cultural 39 Subtotal 40 0 0 0 1,490 Planning and development Planning and zoning 41 Commercial and industrial 42 Residential development 43 - - Agriculture and reforestation 44 Tile drainage/shoreline assistance 45 XXXXXXXXXXXX XXXXXXXXXXXX XXXXXXXXXXXX XXXXXXXXXXXX 46 Subtotal 47 0 0 0 0 Electricity 48 Gas 49 Telephone 50 Total 51 20,333 0 0 42,144 ANALYSIS OF NET LONG TERM Municipality 7 LIABILITIES BY FUNCTION VILLAGE OF VIENNA (11) for the year ended December 31, 1982 General government 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 • Subtotal 15 0 Environmental services Sanitary sewer system 16 Storm sewer system Waterworks system 178 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 0 Health services Public health services 24 Public health inspections 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 Agriculture and reforestation 44 - - Tile drainage/shoreline assistance 45 46 Subtotal 47 0 Electricity 48 Gas 49 Telephone 50 Total 51 0 ANALYSIS OF LONG TERM Municipality 8 LIABILITIES AND COMMITMENTS VILLAGE OF VIENNA (12) for the year ended December 31, 1989 1 6. Ministry of the Environment Provincial Projects $ accumulated total outstanding debt 1. Calculation of debt burden of the municipality surplus(deficit) capital obligation charges f ' All debt issued by the municipality, predecessor municipalities and 1 2 3 consolidated entities $ $ N To Ontario and agencies 1 0 Water projects--for this municipality only 46 -5,800 71,562 7,418 : To Canada and agencies 2 0 --share of integrated project(s) 47 53,666 74,569 7,083 i : 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 r Less: All debt assumed by others 7. 1988 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 --general municipal 12 0 --gas and telephone 57 0 0 --enterprises and other 13 056 0 0 Subtotal 14 0 5859 0 0 Total 15 0 Total 78 0 0 Sinking fund debentures 16 0 8. Future principal and interest payments on existing net debt Installment (serial) debentures 17 0 I 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 interest principal interest Ministry of the Environment 2223 0 $ $ $ $ 5 S 24 0 1989 60 0 0 0 0 0 0 1990 61 0 0 0 0 0 0 $ 1991 62 0 0 0 0 0 0 2. Total debt payable in foreign currencies (net of sinking fund holdings) 1992 63 0 0 0 0 0 0 1 U.S. dollars--Canadian dollar equivalent included in line 15 above 25 .0 1993 64 0 0 0 0 0 0 --par value of this amount in U.S. dollars 26 0 1994-1998 65 0 0 0 0 0 0 Other --Canadian dollar equivalent included in line 15 above 27 0 1999 onwards 79 0 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 0 3. Interest earned on sinking funds and debt retirement funds during the year $ Downtown recital- Own funds 29 0 ization program 70 0 0 0 0 0 0 Ministry of the Environment--sewer 30 0 --water 31 0 Total 71 0 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 $ 1 1 5. Long term commitments and contingencies at year end $ Total liability for accumulated sick pay credits 33 0 1989 72 0 Total liability under OMERS plans 1990 73 0 --initial unfunded (payable over years)(number of employees ) 34 0 1991 74 0 --actuarial deficiency (payable over years) 35 0 1992 75 0 I . Total liability for own pension funds 1993 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) . 4244 0 Total 45 0 CONTINUITY OF UPPER TIER AND Municipalityy 9LT SCHOOL BOARD LEVIES VILLAGE OF VIENNA (13) for the year ended December 31, 1980 telephone share of balance at and share of payments balance beginning amounts supplementary total amount telegraph Provincial in lieu of total at end of 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 19,078 338 19,416 Special purpose requisistions Water rate 2 Transit rate 3 Sewer rate 4 Librar5 Road ray • 7 8 9 10 Sub total levied by mill rate--general 11 198 19,078 338 19,416 18,641 18,641 ( 57)) 11 Special purpose requisistions Water 12 Transit 13 Sewer 14 Library 15 17 Sub total levied by mill rate--special areas 18 18 Special charges 19 576 576 576 19 Direct water billings 20 20 Sewer surcharge on direct water billings 21 21 Total region or county 22 198 19,078 338 19,416 18,641 576 19,217 ( 1) 22 pupils' telephone share of pupils' balance at fees, share and payments fees, share balance beginning amounts supplementary of,trailer total amount telegraph in lieu of of trailer total at end of year requisitioned taxes licences expended levied taxation taxes licences raised of year SCHOOL BOARDS 1 2 3 4 5 6 7 8 9 10 11 $ $ $ $ $ $ $ $ $ $ $ Elementary public ELGIN CTY BOARD OF EDUCATION 330 1 312 29,978 539 30,517 29,298 907 30,205 30 1 Elementary separate ELGIN CTY R.C.S.S. BOARD 440 1,034 1,034 1,034 1,034 40 42 42 Secondary public ELGIN CTY BOARD OF EDUCATION 50 ( 427) • 28,830 573 29,403 29,001 828 29,829 ( 1) 50 50 Secondary separate ELGIN CTY R.C.S.S. BOARD 70 819 819 819 819 70 72 72 Total school boards 36 ( 115) 60,661 1,112 61,773 60,152 1,735 61,887 ( 1) 36 rn CONTINUITY OF RESERVES Municipality 10 AND RESERVE FUNDS VILLAGE OF VIENNA (15) for the year ended December 31, 198$ 1 Balance at beginning of year 1 87,013 Revenues Contributions from revenue fund 2 ( 44,700) 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 9 10 11 12 Total revenue 13 ( 44,700) Expentitures Transferred to capital fund 14 Transferred to revenue fund 15 Charges for long term liabilities--principal and interest 16 20 21 Total expenditure 22 0 Balance at end of year for: Reserves 23 131,713 Reserve Funds Total 245 42,313 analysed as follows: Working funds 26 55,000 Contingencies 27 Ministry of the Environment fund for renewals, etc. --sewer 28 --water 29 Replacement 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 33,700 --parks and recreation 64 --lib--othercultural65 66 --water 38 1,000 --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 Museum current purposes 52 14,213 53 54 55 56 57 Total 58 131,713 GRANT INFORMATION Municipality 13 VILLAGE OF VIENNA (18) for the year ended Decenber 31, 1985 ANALYSIS OF REVENUE FUND REVENUES 1 Note; Upper tiers use column 4 only. upper tier own purposes purposes 2 4 Taxation Direct water billings on ratepayers - own municipality 2 36,945 Sewer surcharge on direct water billings - own municipality 4 Payments in lieu of taxes Subtotal 18 ANALYSIS OF TAXATION 2LT LOCAL TAXABLE ASSESSMENT residential commercial and fare and industrial business I. Own purposes 1 2 3 General (a) Levied by mill rate 30 402,161 72, 95 21,735 farmmseatireducedaratesuced rates 31 ///////////l/ I/I//I//I/I/I TAXES LEVIED connercial and industrial business total 7 8 12 Subtotal levied by mill rate 1 12,106 3,772 ///////////// Share of telephone and telegraph taxation 2 I///////II//I I//////////// 2,545 Total own purposes taxation 4 I//////////// ///////Il/I// 87,229 II. Upper tier purposes Subtotal levied by mill rate 5 3,028 892 ///////////// Share of telephone and telegraph taxation 6 ///////I//I// //I/////////I 576 Total upper tier taxation 8 //I///////I// //I///I//I/// 19,217 ANALYSIS OF CAPITAL OPERATIONS 5 1 A Other financing Prepaid special charges 24 FINANCIAL REPORT 1939 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 examined the balance sheet of The Corporation of the Village of Vienna as at December 31, 1989 and the consolidated statement of operations for the year then ended . 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, these financial statements present fairly the financial position of the Corporation of the Village of Vienna as at December 31, 1989 and the results of its operations and the changes in its financial position for the year then ended, in accordance with the accounting principles prescribed for Ontario Municipalities applied on a basis consistent with that of the preceding year. & I % `' . ft&dli4,00 February 15, 1990 � License Number 001120 CHARTERED ACCOUNTANTS Statement 1 THE MUNICIPALITY OF THE VILLAGE OF VIENNA CONSOLIDATED BALANCE SHEET AS AT DECEMBER 31, 1989 Assets 1989 1988 Unrestricted Cash 96, 588 115, 052 Short term investments 30, 250 - Taxes receivable 55,015 41, 016 User charges receivable 518 861 Accounts receivable 18,732 11, 270 Other current assets 6,707 5, 759 Due from trust funds 2,102 1, 779 Long term investment 4, 213 4, 213 Mortgage receivable 1, 250 10,000 215,375 189, 950 Liabilities and Fund Balances Accounts payable and accrued liabilities 43,059 68, 552 Fund balances at the end of the year To be used to offset taxation or user charges (Note 4) 40,603 34, 385 Reserves (Note 5 ) 131, 713 __87, 013 215,375 189, 950 See accompanying notes to the financial statements. THE MUNICIPALITY OF THE VILLAGE OF VIENNA CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 1989 Budget Actual Actual 1989 1989 1988 $ $ $ Sources of financing Taxation and user charges (Note 1 ) Residential and farm taxation 122, 582 128, 512 120, 031 Commercial, industrial and business taxation 38,007 39, 738 35, 579 User charges 71, 243 76,957 45, 294 Deduct Amounts received or receivable for county and school boards (Note 2) ( 79, 655) (83,983) (71, 289 ) Grants Province of Ontario 69, 938 70, 716 70, 488 Other municipalities 1, 500 1,607 4, 035 Other Investment income 3, 500 9,691 2, 267 Donation of land - 12,000 - Other 6, 000 9,801 37, 300 Fund balances at the beginning of the year To be used to offset (or to be recovered from) taxation or user charges (Note 4) 34,385 34,385 15, 030 Total financing available during the year 267, 500 299,424 258, 735 See accompanying notes to the financial statements. Statement 2 Budget Actual Actual 1989 1989 1988 $ $ $ Applied to Current operations General government 47, 000 40, 999 40, 302 Protection to persons and property 13, 000 12,754 12, 879 Transportation services 15, 290 18,306 47, 069 Environmental services 70, 000 74,162 68, 987 Recreation and cultural services 33, 500 15,423 32, 724 Planning and development 16, 500 10,332 9, 235 195, 290 171, 976 211, 196 Capital General government - - 1, 835 Transportation services 30, 710 40,655 - Recreation and cultural services _ 1,50Q __ 1,490 11 319 32, 210 42, 145 13, 154 Net appropriations to reserves - 40000 _ 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 ) - 40, 603 34,385 Total applications during the year 267, 500 299,424 258735 See accompanying notes to the financial statements. THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 1 . Accounting policies Significant accounting policies used in the preparation of these financial statements are summarized below: 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 and utilities 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" ) . ( 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" . Page 2 THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 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. The principal and interest charges are not accrued for the period from the date of the latest instalment payment to the end of the financial year. ( 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. For those fixed assets financed or to be financed by the issue of long-term indebtedness, the principal and interest on the long-term indebtedness are also reported on the Consolidated Statement of Operations as they are paid. (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: School County Boards of Elgin Taxation and user charges $ 62, 227 $ 19, 903 Requisitions 62, 111 20, 102 Overlevies (underlevies ) for the year 116 ( 199 ) Overlevies (underlevies) at the beginning of the year ( 115 ) 198 Overlevies (underlevies ) at the end of the year $ 1 $ ( 1 ) Page 3 THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 3. Trust funds Trust funds administered by the Municipality amounting to $26, 872 ( 1988 - $27, 955) 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 1989 1988 $ $ The balance on the "Consolidated Statement of Operations" of municipal equity of $40, 603 ( 1988 - $43, 766 ) at the end of the year is comprised of the following: For general reduction of taxation 40, 603 43, 766 5. Reserves and reserve funds The total balance of reserves of $131, 713 ( 1988 - $87, 013 ) are made up of the following: 1989 1988 $ $ Set aside for specific purposes by Council for acquisition of fixed assets 62, 500 27, 800 for working capital 55, 000 45, 000 for museum purposes 14, 213 14, 213 131, 713 87, 013 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 1989 charges from the Ministry - water $48, 839 . 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, 1989, indicates the following: Page 4 THE MUNICIPALITY OF THE VILLAGE OF VIENNA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 6. Contractual obligation - Ministry of the Environment - (continued) Total Accumulated 1989 outstanding net debt long-term (deficit) charges liabilities $ $ $ Water system - for this municipality only ( 5, 800) 7, 418 71, 562 Water system - share of integrated project 53, 666 7,083 74, 569 The operating deficits and long-term liabilities indicated above are not reflected in the accompanying financial statements.