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Home My WebLink AboutFinancial Statements 1993 PORI ,fpuKuie '993 CORPORATION OF THE VILLAGE OF PORT BURWELL Financial Statements Year Ended December 31, 1993 and Auditors' Report to the Members of Council, Inhabitants and Ratepayers CORPORATION OF THE VILLAGE OF PORT BURWELL INDEX OF THE CONSOLIDATED FINANCIAL REPORT DECEMBER 31, 1993 Consolidated Financial Statements Auditors' Report 1 Consolidated Statement of Operations 2 Consolidated Balance Sheet 3 Notes to the Consolidated Financial Statements 4 Trust Fund Auditors' Report 5 Statement of Continuity and Balance Sheet 6 Notes to the Financial Statements 7 1 Raven & Company Affiliated with Deloitte &Touche Raven &Company Chartered Accountants 136 Centre Street Telephone: (519) 631-8250 St. Thomas, Ontario Telecopier: (519) 631-8919 N5R 3A2 AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Village of Port Burwell: We have audited the consolidated balance sheet of the Corporation of the Village of Port Burwell as at December 31, 1993 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 Corporation of the Village of Port Burwell as at December 31, 1993 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. 44(/ 4*7 Chartered Accountant March 15, 1994 2 CORPORATION OF THE VILLAGE OF PORT BURWELL CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 1993 Budget Actual Actual Budget Actual Actual 1993 1993 1992 1993 1993 1992 SOURCES OF FINANCING: APPLIED TO: Taxation and user charges Current operations Residential and farm taxation $419,305 $ 415,898 $323,023 General government $234,042 $240,604 $235,308 Commercial and industrial Fire protection 29,325 26,765 39,606 taxation 56,951 62,225 73,803 Other protection to persons Business taxation 15,143 17,377 23,378 and property 15,258 16,441 13,890 Taxation from other Transportation services 117,351 115,875 93,264 governments 13,400 12,760 13,406 Sanitary sewers 144,945 140,835 106,59 Water and sewer billings 229,348 233,537 162,415 Waterworks system 84,273 87,677 57,133 User charges 237,883 267.756 171,871 Garbage collection 60,697 49,036 99,322 Recreation and cultural 972,030 1,009,553 767.896 services 111,162 120,191 75,271 Grants Planning and development 21.500 23.140 12,775 Province of Ontario 148,150 158,149 188,156 Government of Canada 17,937 22,323 46,589 818.553 820,564 733,159, Other municipalities 8.333 9.132 5.412 Capital operations Roadways 7,500 3,989 48,791 174.420 189,604 240.157 Street lighting - 1,162 25,536 Other Purchase of land - - 37,000 Sale of land - - 40,000 Waterworks system - 5,988 - Penalties and interest on tax 8,000 10,094 7,892 Recreation and culture Investment income 500 528 774 services 2,000 1,897 24,146 Donations 6,000 1.550 7.330 Fire fighting equipment 6,300 3,352 1,730 Sanitary sewer system - - 17,909 14,500 12,172 55,969 Other 19,000 17,447 2,386 Deduct: Amounts received or 34,800 33,835 157,498 receivable for County and school boards (Note 2) (280.597) (280,334) (256.179) Net appropriations to reserves and reserve funds 27.000 48,546 3.000 MUNICIPAL FUND BALANCES, BEGINNING OF YEAR (Note 5) MUNICIPAL FUND BALANCES, (To be recovered from) END OF YEAR (Note 5) taxation or user charges (105,883) (105,883) (57,069) (To be recovered from) taxation or user charges (105,883) (77,833) (105,883) Capital operations not yet Capital operations not yet permanently financed (37.000) (37,000) - permanently financed (37,000) (37,000) (37,000) (142.883) (142.883) (57.069) (142.883) (114,833) (142,883) Total financing available Total applications during the year $117.61112 $ 788.112 $750, 74 during the year $737,470 $750,774 $788,112 3 CORPORATION OF THE VILLAGE OF PORT BURWELL CONSOLIDATED BALANCE SHEET DECEMBER 31, 1993 1993 1992 ASSETS UNRESTRICTED Cash $ 29, 897 $ 14, 418 Taxes receivable 45, 697 76, 727 User charges receivable 61, 935 30,273 Accounts receivable 75, 258 54. 484 212, 787 175, 902 RESTRICTED Cash 9. 022 6. 000 $221. 809 $181. 902 LIABILITIES CURRENT LIABILITIES Temporary loans $115, 000 $232, 000 Accounts payable and accrued liabilities 121, 767 40,285 Other current liabilities 1. 193 236, 767 273, 478 FUND BALANCES (TO BE RECOVERED FROM) TAXATION OR USER CHARGES (Note 5) (77, 833) (105, 883) CAPITAL OPERATIONS NOT YET PERMANENTLY FINANCED (Note 5) (37, 000) (37, 000) RESERVES (Note 6) 90, 853 45, 307 RESERVE FUNDS (Note 6) 9, 022 6.000 $221. 809 $181. 902 The accompanying notes are an integral part of this financial statement. 4 - i CORPORATION OF THE VILLAGE OF PORT BURWELL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31. 1993 1. ACCOUNTING POLICIES The consolidated financial statements of the Corporation of the Village of Port Burwell 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 Statements These consolidated statements reflect the assets, liabilities, sources of financing and expenditures of the revenue fund, capital fund, reserve funds and reserves and include the activities of all committees of Council and the following boards and municipal enterprises which are under the control of Council: Port Burwell Waterworks Port Burwell Recreation, Parks and Community Centre Board Port Burwell Community and Historical Board All interfund assets and liabilities and sources of financing and expenditures have been eliminated with the exception of loans or advances between reserve funds and any other fund of the municipality and the resulting interest income and expenditures. (ii) Non-Consolidated Entities There are no non-consolidated entities. (iii) Accounting for County and School Board Transactions (net) The taxation, other revenues, expenditures, assets and liabilities with respect to the operations of the school boards and the County of Elgin are not reflected in the municipal fund balances of these financial statements. Overlevies (underlevies) are reported on the "Consolidated Balance Sheet" as "other current liabilities" ("other current assets"). 4 - ii CORPORATION OF THE VILLAGE OF PORT BURWELL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 1993 1. ACCOUNTING POLICIES (continued) (iv) Trust Funds The trust fund and its related operations administered by the Village is not consolidated, but is reported separately on the "Trust Fund Statement of Continuity and Balance Sheet". (b) Basis of Accounting (i) Accrual Accounting, Sources of financing and expenditures are reported on the accrual basis of accounting. 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. (ii) 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. 2. OPERATIONS OF SCHOOL BOARDS AND THE 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 Boards County Taxation $207, 240 $73, 094 Requisitions 207. 240 73. 094 Overlevies (underlevies) end of year $ - $ - 4 - iii CORPORATION OF THE VILLAGE OF PORT BURWELL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31. 1993 3. LIABILITY FOR VESTED SICK LEAVE BENEFITS Under the sick leave benefit plan, unused sick leave can accumulate and employees may become entitled to a cash payment when they leave the Village' s employment. The liability for these accumulated days, to the extent that they have vested and could be taken in cash by an employee on termination, amounted to $13, 486 (1992 - $1, 425) at the end of the year. No provision has been made for this liability in the financial statements. Due to the demise of an employee in 1994 the Village estimates its 1994 cash payment for unused sick leave not to exceed $13, 000. 4. TRUST FUND The trust fund administered by the Village amounting to $118,347 (1992 - $114, 779) has not been included in the "Consolidated Balance Sheet" nor have its operations been included in the "Consolidated Statement of Operations". 5. MUNICIPAL FUND BALANCES AT THE END OF THE YEAR The balances on the "Consolidated Statement of Operations" of municipal (deficit) of $(114, 833) (1992 - $(142, 887) at the end of the year are comprised of the following: 1993 1992 For general (increase) of taxation $(102, 651) $(110, 622) For general reduction (increase) of user charges: - Water (929) (2, 789) - Recreation 26, 763 6, 395 - Museum (1. 016) 1. 133 (77, 833) (105, 883) Acquisition of fixed assets to be recovered through taxation or user charges (37. 000) ( 37. 000) $(114, 833) $(142. 883) 4 - iv CORPORATION OF THE VILLAGE OF PORT BURWELL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 1993 6. RESERVES AND RESERVE FUNDS The total balance of reserves and reserve funds of $69, 307 ( 1992 - $45, 307) and $9, 022 (1992 - $6, 000) respectively are made up of the following: 1993 1992 Reserve set aside for specific purpose by Council For working capital $54, 307 $42, 307 For waterworks purposes 15, 000 3, 000 For sewage treatment plant - capital 21, 546 - $90, 853 $45.307 Reserve funds set aside for specific purpose by Council For acquisition of a fire truck $ 9,022 $ 6, 000 7. CONTRACTUAL OBLIGATION - MINISTRY OF THE ENVIRONMENT In accordance with a service agreement entered into by the Village with the Ministry of Environment, the existing sewage and water systems are owned and operated by the Ministry. The Village 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 1993 charges from the Ministry for water of $51, 059 and for sewage of $116,361. The "Consolidated Balance Sheet" does not reflect any assets or liabilities pertaining to the sewage or water systems except to the extent of service charges due to the Ministry. Information received from the Ministry as at March 31, 1993, indicates the following: Total Outstanding Accumulated 1993 Debt Long-Term (Deficit) Charges Liabilities Water System $(30, 521) $4, 831, $48,618 The operating surplus and long-term liabilities indicated above are not reflected in the accompanying financial statements. 4 - v CORPORATION OF THE VILLAGE OF PORT BURWELL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 1993 8. SOCIAL CONTRACT The Social Contract Act requires municipalities to reduce expenditures by a specified amount in each of the years 1993, 1994 and 1995. Unconditional grants will be reduced by a corresponding amount each year. The sectoral agreement between the provincial government and the municipal sector, however, provides for the automatic deferral of 25Z of the 1993 social contract target amount and the corresponding reduction of unconditional grants until 1996. For Village of Port Burwell the target amount for each year is $1, 378, and the amount deferred is $345. 9. NET LONG TERM LIABILITIES a) During the year the Ontario Municipal Board authorized the issuance of debentures in the principal amount of $175, 000 payable over five years for the payment of a floating indebtedness in such amount incurred with respect to the accumulated deficit on the Village' s revenue fund. b) Approval of the Ontario Municipal Board has been obtained for those pending issues of long term liabilities and commitments to be financed by revenues beyond the term of council and approved on or before December 31, 1992. Those approved after January 1, 1993 have been approved by by-law. The principal and interest payments required to service these pending issues and commitments are within the debt repayment limit prescribed by the Ministry of Municipal Affairs. 10. SUPERVISION During the year the Village and its local boards and committees made application and was granted to be made subject to an Order governing its financial and administrative affairs under Part II of the Municipal Affairs Act. 5 Raven & Company Affiliated with Deloitte&Touche Raven &Company Chartered Accountants 136 Centre Street Telephone: (519) 631-8250 St. Thomas, Ontario Telecopier: (519) 631-8919 N5R 3A2 AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Village of Port Burwell: We have audited the balance sheet of the OHRP trust fund of the Corporation of the Village of Port Burwell as at December 31, 1993 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 position of the OHRP trust fund of the Village of Port Burwell as at December 31, 1993 and the continuity of trust fund for the year then ended in accordance with accounting principles disclosed in note 1 to the financial statements. /A4414t-7/ Chartered Accountants March 15, 1994 6 CORPORATION OF THE VILLAGE OF PORT BURWELL OHRP TRUST FUND STATEMENT OF CONTINUITY YEAR ENDED DECEMBER 31. 1993 1993 1992 BALANCE AT THE BEGINNING OF THE YEAR $114, 779 $113. 425 RECEIPTS Interest earned 2, 492 2, 239 Other 2. 676 1. 065 5. 168 3. 304 DISBURSEMENTS Ontario Home Renewal Program - loans forgiven 1, 600 1, 200 Village of Port Burwell - administration fee - 750 1. 600 1. 950 BALANCE AT THE END OF THE YEAR $118, 347 $114, 779 BALANCE SHEET DECEMBER 31. 1993 ASSETS CASH $ 76, 266 $ 71,782 LOANS RECEIVABLE 42. 081 42.997 $118, 347 $114, 779 FUND BALANCE ONTARIO HOME RENEWAL PROGRAM $118. 347 $114. 779 The accompanying notes are an integral part of this financial statement. 7 CORPORATION ION OF THE VILLAGE OF PORT BURWELL OHRP TRUST FUND NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1993 1. ACCOUNTING POLICY Basis of Accounting. The accrual basis of accounting is used for the trust fund. 2. ONTARIO HOME RENEWAL PROGRAM In July 1993, the Ontario Home Renewal Plan ( 0. 11. R. P. ) was discontinued by the Ontario Ministry of Housing. No further 0. H. R. P. loans will be issued under the program and the balance in the 0. H. R. P. bank trust account at December 31, 1993 is to be returned to the Province. Homeowners who currently have 0. H. R P. loans will not be affected by the cancellation of the program. Ontario Home Renewal Program loans receivable at December 31, 1993 comprise repayable loans of $37, 816 ( 1992 - $37, 132) and forgivable loans of $4, 265 ( 1992 - $5, 865) . 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. oF PORT 8,, THE CORPORATION OF THE ��Sts9�� VILLAGE OF PORT BURWELL . .�■r,. P. O. Box 10, Port Burwell, Ontario NOJ ITO j telephone (519) 874-4343 • fax (519) 874-4948 WASEifter PORTUS REFUG\V U December 29, 1993 Ministry of Municipal Affairs 12th Floor 777 Bay Street, Toronto, Ontario MSG 2E5 • Attention: Roberta S. Veley Dear Ms. Veley: Re: 1993 Analysis of Taxation 1993 Estimates of Revenue Fund Reserve Please find enclosed the above said pursuant to your letter dated May 6, 1993. We appologize for the delay in the response as the Mill Rate bylaw was not passed until late September of 1993. Between that time and now we have been deluged with a number of issues considering the Part II Supervision (per the Municipal Affairs Act) of this municipality. I trust that you will find the attached in order and if you should have any questions please feel free to call the number listed above. idFree Ends. David R. Free, CET, AMCT(A) 0 Administrator/Clerk-Treasurer Ministry of Ministere des Subsidies Direction de 12th Floor 777 Bay St 777 rue Bay 12e Stage Municipal Affaires Management la gestion Toronto ON M5G 2E5 Toronto ON M5G 2E5 Affairs municipales Branch des subsides Ontario Tel.: (416)585-6012 (416) 585-6012 Fax: (416) 585-7548 T8lecopieur : (416)585-7548 May 6, 1993 n r n r i% 1 r To the Municipal Treasurer: " MAy 1 3 1993 ` vr• • ■ �• Re: 1993 Analysis of Taxation ------- ------- 1993 Estimates of Revenue Fund Revenn8"-""- I am pleased to enclose the current year's Analysis of Taxation and Estimates of Revenue Fund Revenues. These statistical documents are required by our Ministry under Section 82 of the Municipal Act, and paragraph 3(b) of the Municipal Affairs Act. Their completion and prompt submission are necessary for the calculation of the 1993 Provincial payments-in-lieu of taxes and the determination of next year's unconditional grant entitlements. The due date for both documents is June 30. Please return one completed copy of the analysis and two copies of the estimates. In addition, we request a copy of your final 1993 mill rate by-law and a copy of your operating and capital budgets if available. If your Council has not approved your mill rate by-law by June 30, submit your best estimate (clearly marked as such) and forward the final figures once the by-law is approved. Instructions for the completion of each document are attached but, should you require assistance, please contact Keith Pankhurst at (416) 585-7227 or the Field Management office in your area. The data on the Analysis of Taxation and Estimate of Revenue Fund Revenues, as with all data retained in the Ministry's Municipal Analysis and Retrieval System (MARS) database, are available for your use. Upon request, you may obtain reports analyzing your municipality or comparing it with others. For further information please contact the Field Management office in your area. Thank you in advance for your cooperation in providing us with this essential information. Yours truly, "Air Roberta S. Veley Director RSV/jg Ministry of Municipal Affairs Ontario 1993 ANALYSIS OF TAXATION • The attached form is to be used to report all tax levy,mill rate and • If you require assistance, please contact Keith Pankhurst at(416) assessment data applicable to the current year, 1993. The form is 585-7227 or the Field Management office of the Ministry of Municipal divided into three sections:I.Own Purposes;II.Upper Tier Purposes; Affairs located in your area. III.School Board Purposes. Please return the completed form before June 30th,1993 to: • If your municipality has merged areas,please complete the"Analysis of Taxation in Merged Areas"form first. Ministry of Municipal Affairs Subsidies Management Branch • The information required refers to 1993 and not the prior year. 777 Bay Street,12th Floor • Where transfers between assessment classes in the same year result in ToronE Ontario 2 taxes written off,the write off is to be netted against the supplementary MSG 2E5 taxes in the appropriate columns 9 to 11. • The form must be signed by the Municipal Treasurer or Clerk- • If the exact amount of supplementary taxes or their breakdown is not Il ensurer since the information will be used to calculate the 1993 known,please report appropriate estimates. payments in lieu of taxes. EXPLANATION OF CAPTIONS AND TITLES IN EACH SECTION: Section I:Own Purposes Do not report the following charges: direct water billings, sewer This section is to be used for reporting all tax levy information surcharge on water billings, tile drainage and shoreline property applicable to the municipality's own operations. Do not report assistance collections,charges on government property which are under this section levies with respect to upper tier requisitions, reported as payments in lieu of taxes, utility rate arrears and including those for special purposes. Such levies are to be re- Federation of Agriculture fees included on tax bills for collection ported under Section H: Upper Tier Purposes. purposes only, and charges for collecting school taxes levied in unorganized territories. General: Refers to amounts levied over the whole municipality Section II:Upper Tier Purposes for general municipal purposes. The assessment figures to be reported in columns 1 to 3 are those on which taxes are levied. This section is to be used to report all tax levies for upper tier Ensure that business assessment is reported separately from purposes. commercial and industrial assessment. Do not incorporate the General: Refers to all amounts levied by mill rate to finance the assessment of tax exempt properties, including municipal enter- general requisition on the municipality by the region or county.In prises, since such properties are subject to payments in lieu of the case of merged areas,report only their sum as per the"Analy- taxes and not actual tax levies. sis of Taxation in Merged Areas"form. Police villages at reduced rates:Refers to those amounts levied Special Purposes: Refers to amounts levied by mill rate to fi nance those requisitions of the region or county for special pur- on police villages which are granted a reduced mill rate under section 339 of the Municipal Act. All additional levies on police poses. villages are to be reported under"Special Area Rates and Police Other charges on tax bills: Refers to all other taxes or special Villages". charges (calculated by means other than the mill rate) levied by the municipality to finance special purpose requisitions of the Farms at reduced rates: Refers to those amounts levied on region or county.Be sure to include special charges for those local farmlands which qualify for a reduced mill rate under section 21 improvements imposed by your municipality but which have of the Assessment Act.Where there is more than one such special become the responsibility of the region. coverage area, and each qualifies for the same reduced mill rate, combine them and report the totals on this line. Section III:School Board Purposes This section is to be used to report all tax levy information related Special area rates and police villages: Refers to those amounts to school board purposes.Report the name and specific details for levied over parts of the municipality.Specify the purpose for each each school board.If the municipality has been re-assessed under special area rate rather than just the name of the area. Section 58 of the Assessment Act and the mill rates are now the same, continue to report the name and specific details for each Other charges on tax bills: Refers to all other taxes or special school board(not each merged area).In the case of merged areas, charges levied for municipal purposes by means other than the report in the appropriate lines only their sum as per the"Analysis application of mill rates to assessment. Be sure to include tele- of Taxation in Merged Areas"form.Do not report school taxes phone and telegraph taxation under section 159 of the Municipal levied in unorganized territories. Act;special charges which are commuted after the debenture has been issued; special charges levied directly on ratepayers by the Please note that you should share telephone and telegraph taxation upper tier but which are handed over to the municipality. Where with the elementary separate and secondary separate school boards, your upper tier levies a special charge directly on ratepayers for a as required by subsection 159(22)or 379(4)of the Municipal Act or function for which responsibility is shared, report your munici- subsection 113(9)of the Education Act. pality's share here. (francais au verso) Ministry of 1993 ESTIMATES OF REVIIIINUE CFMunicipal Affairs FUND REVENUES Ontario 91 ES: I) THE INFORMATION REQUESTED IS YOUR ESTIMATES FOR 1993 AND NOT THE INFORMATION FROM YOUR 1992 FINANCIAL INFORMATION RETURN. 2) PLEASE RETURN TWO COMPLETED FORMS BY JUNE 30,1993 TO: MINISTRY OF MUNICIPAL AFFAIRS SUBSIDIES MANAGEMENT BRANCH 777 BAY STREET,12TH FLOOR TORONTO,ONTARIO M5G 2E5 3) PLEASE DIRECT YOUR QUESTIONS REGARDING THIS FORM TO TONY ALMEIDA AT(416)585-6179. 10,4%,"" 1 1 1 1 Prepared ,vy9c.) v f Pcrd: Municipality's name and status (For computer use only) 'Phone No.: Sj 9 cr4f9 rf (3s13 • 3 ANALYSIS OF REVENUE FUND REVENUES • Schedule 1 UPPER TIER SCHOOL OWN PURPOSES$ PURPOSES$ PURPOSES$ 2 3 4 • Direct Water Billings on Ratepayers —Own Municipality 2 xxxxxxxx ,4860 —Other Municipalities 3 xxxxxxxx ,yZ yo n Sewer Surcharge on Direct Water Bills —Own Municipality 4 xxxxxxxx —Other Municipalities 5 xxxxxxxx PAYMENTS IN LIEU OF TAXES ONTARIO THE MUNICIPAL ACT,SECTION 160 10 1 xxxxxxxx DOTAL PAYMENTS IN LIEU OF TAXES(includes 18 I I x515.0 O Canada,Canada enterprises,Ontario,Ontario enterprises, Municipal enterprises and data from line 10 above) 17 HOUSEHOLDS RECEIVING SEWER Schedule 12 AND WATER SERVICE water estimated 1993 billings number of all other households residences$ properties$ 1 2 3 In this municipality 39 In other municipalities 4 y�6 0 �� /90 O PS o Name ,L2�� 40 -t- ,g 0Name 41 Name 42 Name 43 Name 64 (For computer use only) sewer estimated 1993 billings number of all other households residences$ properties$ 1 2 3 In this municipality 44 In other municipalities ,//4-, �`3i'! 96 // VO Name 45 Name 46 Name 47 Name 48 Name 65 (For computer use only) 9 ESTIMATE OF"ANALYSIS OF CAPITAL OPERATIONS"as at December 31,1993. Schedule 5$ Prepaid special charges(include only those special charges 24 paid before the debentures have been issued) Please specify the circumstances which have caused significant changes in this information from your 1 2 Financial Information Return: --_ • • Municipality IW/rat/County/District Ministr 1993 ANALYSIS OF TAXATION p • Muni( Please read attached instructions bore completing forer .91' U 4lpiv,S// 46/P.,/,'a.i✓J! Affairs (Round amounts to nearest dollar) j (computer meanly) ,-._,afl0 4 LOCAL TAXABLE ASSESSMENT MILL RATES TAXES LEVIED ESTIMATED 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 t 2 3 4 5 6 7 8 8 10 ll 12 0 8 5 a 8 S 8 8 a t I.Own purposes (a)Levied by mill rate General 0 i ...;04'1--26� -?‘-'1,2,12? /.ti 71'49 /Or,214- 1/�s/ �4 A9 4 7R 4C s 1913.7i6 police villages at reduced rates 0 2 farms at reduced rates 0 3 , Special area rates and police villages Subtotal levied by mill rate J 4 0 (b)Other clurges on tax bills Share of telephone and telegraph taxation 2 1 Local improvements 2 2 Sewer and water service charges 2 3 Sewer and water connection charges 2 4 Fire service charges 2 5 Minimum tax(differential only) 2 6 Municipal drainage charges 2 7 Garbage collection charges 2 8 Business improvement area 2 9 • 3 0 Subtotal special charges on to bats 3 I Total own purposes taxation 3 2 • II. Upper tier purposes (a)levied by mill rate General 2 0 1 .r . _ . . 4/ • . . •. •, ,a . Special purposes 2 2— 2 Subtotal levied by mill rate 2 4 0 (b)Other charges on tax bills Share of telephone and telegraph taxation 2 2 I . Local improvement 2 2 2 Sewer and water service charges 2 2 3 Sewer and water connection charges 2 2 4 Fire service charges 2 2 5 • 2 3 0 Subtotal special charges on tae bills 2 3 I III. School board purposes Total upper tier taxation 2 3 2 - _ Elementary public • / 3 0 I _9 9',...s7 49/1-47 7.(4,7_/„S" _ 5d'z1Q 1Qo.7•/7 �;.N.S4/ 9 939 s�41P.T 7t// c 1s /69 3 0 I T Share of telephone and telegraph taxation 0 3 2 1 0 Elementary separate Subtotal elementary public 0 3 3 2 0 �`�� 4 0 I 9r9.Tny' 44 '/3 . 341365 BU,oo s 94,,V .6 ?'2M' j!fie'f «t7 T 9/4-76. 4 0 1 Share of telephone and telegraph taxation 0 4 2 1 0 Seconda ,blic Subtotal elementary separate 0 4 3 2 0 1 s o 1 $-C6 y Val.' t 4/Rd ?9/4y uo.cif 649 41 2.i /4' _ �' .1 It( •,,,i2.1-1 5 0 1 Share of telephone and telegraph taxation 0 5 2 1 0 Secondary separate Subtotal secondary public 0 5 3 2 0 7 0 I ens" F. +4116- ',VAS' 77.->.B2t3 B3.A/1:1 9,A•ri 54/ ,2•f 9' _'311.17 _ 7 0 I T 1 Share of telephone and telegraph taxation 0 7 2 1 0 Subtotal secondary separate 0 7 3 2 0 •. Total cell school board taxation 101813 I2I01 - 1.Signature of Municipal Treasurer. Contact person:_ ,.. .._., .4.. (Name,position,telephone) Please indicate the date your General Mill Rate Bylaw 2. Indicate whether the tax roll fort year has been revised from the 1992 tan roll under Section 58 of the Assessment Act: (D'V O Na was passed by Council. Month Day Year • 3.If the assessments on which the general rates apply for municipal purposes,upper tier purposes or applitabk),combined elementary public and separate purposs,and combined secondary public and separate a19 7 6 9 k punwsm arc not the same attach a clear explanation of the differences and a reconciliation of the assessments. PORT& THE CORPORATION OF THE Sts F�� VILLAGE OF PORT BURWELL ''''''Ille11111111111111C P. O. Box 10, Port Burwell, Ontario N0J I TO % '`=% (� telephone (S 19) 874-4343 • fax (5 19) 874-4948 44.000 114. its PORTUS REFUG"- WITHOUT PREJUDICE April 18, 1994 DOCUMENT FOR DISCUSSION IN Council of the Village of Port Burwell PO Box 10 COMMITTEE OF THE WHOLE 21 Pitt Street Port Burwell ON NOJ1T0 DO NOT CIRCULATE Attention: Thomas Nesbitt Reeve Dear Tom: This letter is concerning the 1993 Municipal Audit as completed by the Accounting firm Raven & Company, an affiliate of Deliotte and Touche and the unethical methods applied in order to procure my signature on key financial documents in association with the "Audit" as the Treasurer of the municipality. For the record, that there are several details within the statement which I do not agree and the one which is most prevalent are the fees charged by the auditors for services with respect to 1993 audit and previous years. Based on the information within the statements the 1993 auditing costs will be over $29,000. The auditors have accrued fees within the subject financial statements for 1993 approximating 4 times what would be expected. In comparison with other municipalities of similar size and complexity audit costs range between$6,000 to$12,000. Part II supervision by Municipal Affairs has seemingly given Raven & Company "carte blanche" with respect to fees and it is my opinion that Mr. Raven has in the past and currently"taking full advantage" of our fiscal situation. Although there have been anomalies in our operations in 1993 and 1994 (dismissal of the secretary/bookkeeper, changing in computer accounting systems, adjustment to the Supervision Order from the OMB) their effects would not warrant over$29,000 in accounting fees. It is my opinion that the accrued fees are exaggerated for self serving political purposes of which I can only surmise. In the same manner that the 1993 Waste Collection Services invoices were withheld until the procurement of a mutual settlement, I will not certify the auditors' invoices as authorized or true. Notwithstanding these fees are included in the statements which have been presented as true. cont'd.. David R. Free, CET, AMCT(A) • Administrator/Clerk-Treasurer Page 2 The attached letter dated December 14, 1993 identified that the audit fees were to be no more than $8,000. Prior approval was also required if there was to be an increase to these costs. The record must show that I have not provided any approval for the increase of fees or received correspondence regarding this matter from Raven & Company. To this end I have not consented to any extra work or charges other than for the preparation of the T4's and the T4 summary prepared by a junior member within the Accounting firm. The Municipal Act RSO 1990 dictates that the audit be complete by April 30 of the following year. Considering the sensitivity of the issues, it is too late to address the matter of the auditors' fees (if the fees could be negotiated) or discharge the auditor and hire new ones. This timing compromises our ability to reflect this factor into the financial activities of 1993 in the manner which I deem to be fair and accurate. Considering the deadline for completing the audit I have been in essence "black mailed"by Mr. Raven into signing the"Representation of Management" letter to Raven & Company. Mr. Raven's approach in these matters has been unprofessional and scandalous. I do not agree to all of the terms within the agreement and correspondence and dialogue both in meetings and telephone conversations echoes the same. Therefore considering the complexities and the politics of the municipal operations of the Village of Port Burwell I hereby identify that the previously said "letter" IS SIGNED UNDER DURESS and without consideration for several issues previously identified. Needless to say, I have significant concerns for the documents and the work as presented by the auditors in 1993 and years previous. The above statement as fact, is likely to draw concern from Municipal Affairs, other government agencies, the council of the Village of Port Burwell and the rate payers of the municipality. However, small comfort is gained in the personally contrived improved stature and performance of the municipality for 1993 with respect to finances. Using the statements as prepared by the auditors, the deficit has been reduced by over$30,000 (a net 21% deficit reduction). If the auditors fees were an acceptable amount (approximately$9,000) the deficit would be further reduced by an additional $21,000 for a total of$50,000 (or a net 34.5% deficit reduction). During 1993 we have increased the reserves from$51,000 to over$100,000 and at the time of this letter additional reserve commitments have been configured into 1994 operations in the amount of $12,000 by the museum and recreation board. The establishment of the 1994 Water/Sewer Rates included for another$25,000 to be committed to reserves considering future requirements and the implementation of preventative maintenance systems. Therefore at the time of this letter, reserves have been committed to be increased to an amount approximating $137,000. cont'd.. Page 3 Since the day of assuming the duties of Administrator/Clerk-Treasurer for the Village of Port Burwell I have fostered deep concerns with regard to the financial stature of the municipality and how the corporation arrived at this position. With great deal of inquiry and analysis I have concluded although these problems are administrative the auditors could have and should have, directed council away from the ruin experienced during 1990, 1991 and 1992. In fact it was the auditors' duty to inform council at the time of the interim review by Raven & Company in October 1992 of the deteriorated financial state prior to the purchase of land in the amount of $37,000 currently designated as "unfinanced capital" in the 1992 and 1993 audit. There have been a number of liabilities and financial issues which have not been brought to council's attention or understated within the financial statements which could have avoided the problems in 1992 and prior years. However, it is time to adjust the management plan and look to a brighter future with the new systems and staff recently instituted. In summary, it is with a large degree of reluctance (and black mail), that I suggest to council that the 1993 financial statements be adopted during the April 26, 1994 Regular Council meeting with the understanding and advice of this letter. As a corporation we must "move on" and correct the errors of the past with the hope that there are new opportunities considering the state of our affairs. This past years results bear evidence that as an administration we have developed the necessary tools for council to make quality and knowledgeable decisions. Staff is still trying to catch up on poor practices from past years which includes filing, bylaws, development of policies and procedures, review and assessment of the municipal infrastructure (water and sewer system), refinement of current financial methods and practices. The appointment By-law 92-23 for Raven & Company ends in 1994. I recommend that upon the completion of the 1993 Municipal Audit that tendering for auditing services to other firm commence immediately to procure professional services which are at a more competitive rate and provide sound financial advice and direction which would benefit both administration and the community. I also recommend that when the invoices from Raven&Company arrive for payment that they be returned to Mr. Raven considering the notice given in the December 14, 1993 letter for the stating the limit which we were willing to pay for the firms services in 1993. cont'd... Page 4 I regret having to cast doubts and tarnish the 1993 audit with this information, however I do not take lightly my responsibility and quest for results which would improve the financial standing of the community in order that this village can move forward and develop without further pain or penalty. It is also regretful that consultants which we have paid thousand of dollars to over the years have deemed it necessary to"suck the life blood" out of a community of people during these difficult times. 'Da -R. Free, CET, AMCT Administrator/Clerk-Treasurer ✓" cc Council of the Village of Port Burwell J. Maddox, MMA REPRESENTATIONS OF MANAGEMENT OF THE VILLAGE OF PORT BURWELL March 25, 1994 Raven & Company 136 Centre Street St. Thomas, Ontario NSR 3A2 Dear Sirs: In connection with your examination of the consolidated financial statements of the Corporation of the Village of Port Burwell as of December 31, 1993 which includes: Consolidated Statement of Operations Consolidated Balance Sheet Trust Funds - Statement of Continuity and Balance Sheet For the purpose of expressing an opinion as to whether these financial statements present fairly the municipality' s financial positions and results of operations in accordance with generally accepted accounting principles for Ontario municipalities, we represent, to the best of our knowledge and belief, that: 1. We have made available to you all financial records and related data, and the minutes of council and committees of council or summaries of actions for which minutes have not yet been prepared. We acknowledge that we are responsible for the fair presentation of the financial statements in conformity with generally accepted accounting principles for Ontario municipalities. We understand that your examination included such tests and other procedures as you considered necessary, rather than a detailed examination of all transactions, and that it was not primarily or specifically designed and could not be relied upon to disclose defalcations or other irregularities, should some exist. 2. All transactions have been properly recorded in the accounting records underlying the financial statements. 3. We have examined the year-end adjusting entries and take full responsibility for them. 4. There have been no irregularities involving management or employees. p. Representation of Management The Village of Port Burwell 2 March 25, 1994 5. We have not received any communication from regulatory agencies concerning non-compliance with, or deficiencies in, financial reporting practices that could have an effect on the financial statements. 6. There are no plans that may affect the carrying value or classification of assets or liabilities. 7. The municipality has satisfactory title to its assets; any liens or encumbrances on its assets have been disclosed, as have any assets pledged. 8. There are no significant contingencies, claims or possible claims which have not been disclosed or provided for in the financial statements. 9. The municipality has complied with all aspects of contractual agreements that would have an effect on the financial statements in the event of non-compliance. 10. We have advised you concerning all programs established to provide retirement income to management and employees. 11. No events have occurred and no facts have been discovered subsequent to the balance sheet date that would require adjustment to, or disclosure in the financial statements which have not been reflected in the financial statements. Yours very truly, "( •r gnature and Title) / ( Date) ( Signature and Title) ( Date) st 0 December 14, 1993 �. �'f, Raven & Company 136 Centre Street St. Thomas, Ontario }, N5R 3A2 Dear Mr. Millson Re: 1993 Municipal Audit, Village of Port Burwell This letter confirms our conversation of Friday December 10, 1993 with regards to the premise of the Municipal Audit. We are in receipt of your requirement in order to perform the audit and we have and are currently assembling this information for your review. We also identified that we would like to keep the cost at an absolute minimum, and on this basis we are anticipating an audit cost of between$6,000.00 and $8,000.00. If indeed the audit can be kept at a level less than this through internal operations, we duly request that this be identified in order that we may pursue the matter in order to reduce the financial effect on the community.. Should you have any questions with regards to the financial situation or information that you require we request that this be written down and presented to us in order that we may assemble the information on your behalf. If you should have any further questions please feel free to call. Yours truly David R. Free, CET, AMCT(A) Administrator/Clerk-Treasurer DRF/dl c.c. Village of Port Burwell Council 1993 FINANCIAL INFORMATION RETURN MUNICIPALITY: Village of Port Burwell in the Regien-, 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 N/A 2MA Analysis of Taxation in Merged Areas N/A 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 A X 8 Analysis of Long Term Liabilities and Commitments 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 WA 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: ' Port Burwell Waterworks Port Burwell Recreation, Parks and • Community Centre Board ' Port Burwell Community and • Historical 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 Raven & Company (Auditor's firm or name of Municipality) Questions regarding the information contained in them should be addressed to Mr:••Brad.-Mill son at (519) 631-825.0 (Area code and telephone) Date 1/;1d .7 Z.v 1994 . . Mur' pal Treasurer Raven & Company Affiliated with Deloitte&Touche Raven &Company Chartered Accountants ACCOUNTANTS' REPORT 136 Centre Street Telephone: (519) 631-8250 St. Thomas, Ontario Telecopier: (519) 631-8919 N5R 3A2 To the Ministry of Municipal Affairs: Our audit of the consolidated financial statements of the Corporation of the Village of Port Burwell for the year ended December 31, 1993 was made for the purpose of forming an opinion on the consolidated financial statements referred to in our auditors' report to the Members of Council, Inhabitants and Ratepayers, dated March 15, 1994. Schedules 1 to 11 of the 1993 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 Port Burwell for the year ended December 31, 1993: (a) We have compared the amounts disclosed on these schedules to the books and records of the Village of Port Burwell and found them to be in agreement; ( b) We have added and cross-added all schedules and found them to be arithmetically correct; and (c) We have checked the cross-references indicated in the "Cross- Reference to Other Schedules" section for each of the above-noted schedules, as outlined in the "Instructions for Completing the 1993 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 1993 Financial Information Return. %Al44 Chartered Accountant St. Thomas, Ontario March 15, 1994 ANALYSIS OF REVENUE FUND REVENUES Municipality 1 Village of Port Burwell (3) for the year ended December 31, 1993 upper school total tier board own revenue purposes purposes purposes 1 2 3 4 $ $ $ $ TAXATION Taxation from schedule 2LT 1 495,500 73,094 207,240 215,166 (or requisitions from schedule 2UT) Direct water billings on ratepayers -own municipality 2 81,269 81,269 -other municipalities 3 2,375 2,375 Sewer surcharge on direct water billings -own municipality 4 149,893 149,893 -other municipalities 5 0 Subtotal 6 729,037 73,094 207,240 448,703 PAYMENTS IN LIEU OF TAXES Canada 7 0 Canada enterprises 8 0 Ontario The Municipal Tax Assistance Act 9 9,660 9,660 The Municipal Act, section 157 10 0 Other 11 0 Ontario enterprises Ontario Housing Corporation 12 0 Ontario Hydro 13 0 Liquor Control Board of Ontario 14 3,100 3,100 Other 15 0 Municipal enterprises 16 0 Other municipalities and enterprises 17 0- Subtotal 18 12,760 0 0 12,760 ONTARIO UNCONDITIONAL GRANTS Per household general 19 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Per household police 20 \\\\\\\\\\\\\\\\\\'\,\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Transitional and special assistance 22 0 Resource equalization 23 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ General support 24 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Northern special support 25 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\1\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Apportionment guarantee 26 0 Revenue guarantee 27 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Subtotal 28 106,705 0 0 106,705 REVENUES FOR SPECIFIC FUNCTIONS Ontario specific grants 29 51,444 51,444 Canada specific orants 30 22,323 22 Other municipalities- grants and fees 31 14,809 14,809 Fees, service charges and donations 32 253,090 253,090 Subtotal 33 341,666 341,666 OTHER REVENUE Trailer revenue and licences 34 0 Licences and permits 75 10,539 10,539 Fines 37 0 Penalties and interest on taxes 38 10,094 10,094 Investment income-from own funds 39 0 -other 40 528 528 Sale of publications, equipment, etc. 42 0 Contributions from capital fund 43 0 Contributions from reserves and reserve funds 44 0 Contributions from non-consolidated entities 45 0 . 46 0 47 0 48 0 Sale of land 49 0 Subtotal 50 21,161 0 0 21,161 Total revenue 51 1,211,329 73,094 207,240 930,995 CONTINUITY OF RESERVES Municipality AND RESERVE FUNDS Village of Port Burwel 10 (15) for the year ended December 31, 1993 1 S BALANCE AT THE BEGINNING OF YEAR 1 51,307 REVENUES Contributions from revenue fund 2 48,546 Contributions from capital fund 3 0 Development Charges Act 67 Lot levies and subdivider contributions 60 Recreational land (the Planning Act) 61 Investment income- from own funds 5 - other 6 22 9 10 11 12 Total revenue 13 48,568 EXPENDITURES Transferred to capital fund 14 0 Transferred to revenue fund 15 0 Charges for long term liabilities- principal and interest 16 0 63 20 21 Total expenditure 22 BALANCE AT END OF YEAR FOR: Reserves 23 90,853 Reserve funds 24 9,1;22 Total 25 99,875 analysed as follows: Working funds 26 54,307 Contingencies 27 Ministry of Environment fund for renewals, etc. -sewer 28 -water 29 Replacement of equipment 30 9,022 Sick leave 31 Insurance Workers' compensation 33 Capital expenditure-general administration 34 -roads 35 -sanitary and storm sewers 36 21,546 -parks and recreation 64 -library 65 -other cultural 66 -water 38 -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 repayment 47 Exchange rate stabilization 48 Waterworks current purposes 49 15,000 Transit current purposes 50 Library current purposes 51 • L C7 • 54 • 55 • 56 • 57 Total 58 99,875 ANALYSIS OF Municipality CONSOLIDATED YEAR END Village of Port Burwell BALANCES 11 (16) as at December 31, 1993 $ ASSETS portion of cash not CURRENT ASSETS in chartered banks Cash 1 38,919 Accounts receivable Canada 2 8,975 Ontario 3 45,190 Region or county 4 1,476 Other municipalities 5 School boards 6 4,208 portion of taxes Waterworks 7 61,935 receivable for Other (including unorganized areas) 8 15,409 business taxes Taxes receivable Currents year's levies 9 28,187 135 Previous year's levies 10 10,972 751 Prior years' levies 11 3,0`8 863 Penalties and interest 12 .,480 714 Less allowance for uncollectabies 13 Investments_ (market value $ ) Canada 14 Provincial 15 Municipal 16 Other 17 portion of line 20 Other current assets 18 for tax sale/tax CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS 19 C1 registration OTHER LONG TERM ASSETS 20 Total 21 221,809 LIABILITIES portion of loans not CURRENT LIABILITIES from chartered banks Temporary loans- current purposes 22 78,000, capital- Ontario 23 - Canada 24 - Other 25 37,000 Accounts payable and accrued liabilities Canada 26 3,558 Ontario 27 34,815 Region or county 1 8 501 Other municipalities 29 School boards 1,689 Trade accounts payable 31 81,204 Other 32 Other current liabilities =_ NET LONG TERM LIABILITIES Recoverable from the Consolidated Reserve 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 40 RESERVES AND RESERVE FUNDS 41 99,875 ACCUMULATED NET REVENUE (DEFICIT) General revenue - 42 (102.651) Special charges and special areas (specify) • 44 45 46 C▪onsolidated local boards (specify) Transit operations 47 Water operations 48 (929) Libraries 49 CemeteriesJv Recreation, community centres and arenas 51 26,763 • Museum 52 (1,016) 53 • 54 55 R▪egion or county5_; School boards 57 0 UNEXPENDED CAPITAL FINANCING / (UNFINANCED CAPITAL OUTLAY) 58 (37,000) Total 59 221,809 STATISTICAL DATA for the year ended December 31, 1993 C 1 1. NUMBER OF CONTINUOUS FULL TIME EMPLOYEES AS AT DECEMBER 31 Administration 1 _ Non-line departmental support staff 2 Fire Police 4 Transit Public Works 6 2 Health Services 7 Homes for the Aged 8 Other Social Services 9 Parks and Recreation 10 Libraries 11 Planning 12 Total 13 5 Continuous full time emplolees December 31 Other 1 2 $ $ 2. TOTAL EXPENDITURES DURING THE YEAR ON: Wages and salaries 14 121,304 64,285 Employee benefits 15 8,650 4,146 1 3. REDUCTIONS OF TAX ROLL DURING THE YEAR (LOWER TIER MUNICIPALITIES ONLY) $ Cash collections: Current year's tax 16 457,518 Previous years' tax 17 55,193 Penalties and interest 18 14,118 Subtotal 19 526,829 Discounts allowed • 20 Tax adjustments under section 363 and 364 of the Municipal Act -amounts added to roll 22 -amounts written off 23 Tax adjustments under sections 421, 441 and 442 of The Municipal Act -recoverable from upper tier and school boards 24 5,683 -recoverable from general municipal revenues 25 4,112 Transfers to tax sale and tax registration accounts 26 The Municipal Elderly Residents' Assistance Act- reductions 27 - refunds 28 Other (specify) 80 Total reductions 29 536,624 Amounts added to the tax roll for collection purposes only 30 Business taxes written off under subsection 441 (1) of the Municipal Act 81 1 4. TAX DUE DATES FOR 1993 (LOWER TIER MUNICIPALITIES ONLY) Interim billings: Number of installments 31 Due date of first installment (MMDDYY) 32 033193 Due date of last installment (MMDDYY) 33 081593 Final billings: Number of installments 34 2 Due date of first installment (MMDDYY) 35 102793 Due date of last installment (MMDDYY) 36 113093 Supplementary taxes levied with 1994 due date 37 0 5. PROJECTED CAPITAL EXPENDITURES AND LONG TERM long term financing requirements FINANCING REQUIREMENTS AS AT DECEMBER 31 approved by submitted but not forecast not yet gross the O.M.B. yet approved by the submitted to the expenditure or council O.M.B. or council Q.M.H. or council 1 2 3 4 $ $ € ' $ Estimated to take place in In 1994 58 175,000 175,000 In 1995 59 0 In 1996 60 0 In 1997 61 0 p In 1998 62 0 Total 63 175,000 175,000 0 0 balance in fund loans outstanding 1 L t t Municipality 12 Village of Port Burwell (17) 7. ANALYSIS OF DIRECT WATER AND SEWER BILLINGS AS AT DECEMBER 31 WATER 1993 billings number of residential residential all other units units properties 1 2 3 4 In this municipality 39 457 69,079 12,190 In other municipalities (specify municipality) Township of Bayham 40 7 2,375 41 ' 42. 43 64 SEWER 1993 billings number of residential residential all other units units properties 1 2 3 In this municipality 44 414 134,904 14,989 In other municipalities (specify municipality) 45 46 ' 47 48 • 65 water sewer Number of residential units in this municipality receiving municipal water 1 2 and sewer services but which are not on direct billing 66 8. SELECTED INVESTMENTS OF OWN SINKING FUNDS AS AT DECEMBER 31 other 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- for contribution ity`s share of computer total board from this total municipal use only expenditure municipality contributions 1 2 3 4 $ $ % name of joint boards 53 54 55 56 57 11. APPLICATIONS TO THE ONTARIO MUNICIPAL tile drainage, BOARD OR TO COUNCIL shoreline ass- istance, down- town revitaliz- other other ation electric submitted submitted gas, telephone to O.M.B. to council total 1 2 4 3 Approved but not financed as at Dec. 31, 1992 67 0 Approved in 1993 68 175,000 175,000 Financed in 1993 69 0 No long term financing necessary 70 0 Balance approved but not financed at Dec. 31, 1993 71 0 175,000 0 175,000 Applications submitted but not approved as at December 31, 1993 72 0 12. FORECAST OF TOTAL REVENUE FUND EXPENDITURES 1994 1995 1996 1997 1998 . Raven & Company Affiliated with Deloitte&Touche Raven &Company Chartered Accountants 136 Centre Street Telephone: (519) 631-8250 St.Thomas, Ontario Telecopier: (519) 631-8919 N5R 3A2 AUDITORS' REPORT To the Ministry of Municipal Affairs: At your request, we have audited grant information Schedule 13 of the Financial Information Return of the Corporation of the Village of Port Burwell for the year ended December 31, 1993, prepared in accordance with the "Instructions for Completing the 1993 Financial Information Return", issued by the Ministry of Municipal Affairs. This financial information is the responsibility of the Village' s management. Our responsibility is to express an opinion on this financial information 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 information is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial information. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial information. In our opinion, this schedule presents fairly, in all material respects, the grant information shown therein in accordance with the "Instructions for Completing the 1993 Financial Information Return" issued by the Ministry of Municipal Affairs. A:4141, Chartered Accountants St. Thomas, Ontario March 15, 1994 GRANT INFORMATION Municipality 13 Village of Port Burwell (18) for the year ended December 31, 1993 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 0 81,209 Sewer surcharge on direct water billings- own municipality 4 0 149,893 PAYMENTS IN LIEU OF TAXES Subtotal 18 0 12,760 ANALYSIS OF TAXATION 2LT LOCAL TAXABLE ASSESSMENT residential commercial and farm and industrial business 1. OWN PURPOSES 1 2 3 (a) Levied by mill rate $ $ $ General 30 1,045,263 103,992 36,250 police villages at reduced rates 31 0 0 0 farms at reduced rates 32 0 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ TAXES LEVIED commercial and industrial business total 7 8 12 $ $ $ SUBTOTAL LEVIED BY MILL RATE 1 19,789 6,898 \\\\\\\\\\\1111 Share of telephone and telegraph taxation 7, \\t\\\\\\\\\\\\\\\\\\\\\\\\\\\ 4,947 TOTAL OWN PURPOSES TAXATION 4 \\\\\\\\\\\\\\\\\\\\\\\1111\\\ 215,166 II. UPPER TIER PURPOSES SUBTOTAL LEVIED BY MILL RATE 5 7,102 2,476 \\\\\\\\\\1111\ Share of telephone and telegraph taxation 6 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 2,270 TOTAL UPPER TIER TAXATION B \\\\\\\\\\\\\\\\\\\\1111\\1111 73,094 ANALYSIS OF CAPITAL OPERATIONS 5 1 $ OTHER FINANCING Prepaid special charges 24 0 uuuxr.a, am ICSia81iL1a1 uwmeruar aim resimenciar cumweruai anti ,r, ase only and farm industrial business andufarmU business and farm industrial business and farm industrial business columns6-11 1 2 3 4 56 7 B 4 10 11 12 I. OWN PURPOSES ¢' f $ $ $ $ $ f (a) Levied by mill rate K.IL ) 9L_''(" i k (�:y y r a General 0 1 0 1 0 1,045,263 103,992 36,250 161.750 190.295 169,071 19,789 6,89 500 687 404 197,349 police villages at reduced rates 0 1 0 2 0 0 '- 0 farms at reduced rates 0 1 0 3 - 1 i' i- .• ,• 0 0 0 - 0 1 C ,i* 0 0 0 01 0 0 0 Special area rates and police villages 01 00 0 . 0 1 ("Y 1 0 0 - 0 01 I f f > 0 0 0 0 1 0 0 -- • 0 01 0 0 0 01 0 0 0 SUBTOTAL LEVIED BY MILL RATE 0 1 4 0 0 1. 169,071 19,789 6,89 _ 500 _ 687 404 197,349 (h) Other charges on tax bills Share of telephone and telegraph taxation 0 1 2 1 0 2. 4,947 4,94 • Local improvements 0 1 2 2 0 12,484 386 12,87 Sewer and water service charges 0 1 2 3 0 Sewer and water connection charges 0 1 2 4 0 -. 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 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 01300 • SUBTOTAL SPECIAL CHARGES ON TAX BILLS 0 1 3 1 0 3. 12,484 5,333 0 0 0 0 17,81 TOTAL OWN PURPOSES TAXATION 0 1 3 2 0 4. 101,555 25,122 6,898 500 687 404 215,16 II. UPPER TIER PURPOSES __ p (a) Levied by mill rate General 0 2 0 1 0 1,045,263 103,992 36,250 58.047 68.291 60,674 7,102 2,476 179 247 146 70,824 Special purposes 02 0 0 00 0 2 0 0 0 .-'- 0 02 0 0 0 0 02 0 0 0 0 SUBTOTAL LEVIED BY MILL RATE 0 2 4 0 0 5. 60,674 7,102 2,476 179 247 146 70,024 (b) Other charges an tan bills Share of telephone and telegraph taxation 0 2 2 1 0 6. 2,270 2,270 ' Local improvements 0 2 2 2 0 0 Sewer and water service charges 0 2 2 3 0 0 Sewer and water connection charges 0 2 2 4 0 0 • Fire service charges 0 2 2 5 0 0 , 02300 0 SUBTOTAL SPECIAL CHARGES ON TAX BILLS 0 2 3 1 0 7. 0 2,270 0 0 _ 0 0 2,270 TOTAL UPPER TIER TAXATION 0 2 3 2 0 0. 60,674 9,372 2,476 179 247 146 73,094 J III. SPECIAL BOARD PURPOSES Elementary public - Elgin County Board of Education 0 3 0 1 979,507 99,547 34,765 84.990 99.988 83,248 9,954 3,476 263 363 214 97,518 0301 0 0 0 0 Share of telephone and telegraph taxation 0 3 2 1 0 9. 3,076 3,076 SUBTOTAL ELEMENTARY PUBLIC 0 3 3 2 0 10. 83,248 13,030 3,476 • 263 363 214 100,594 Elementary separate Elgin County R.C.S.S. Board 0 4 0 1 65,756 4,445 1,485 94.195 110.818 6,194 493 165 6,852 0401 0 0 0 0 Share of telephone and telegraph taxation 0 4 2 1 0 18. 99 - 99 SUBTOTAL ELEMENTARY SEPARATE 0 4 3 2 0 11. 6,194 592 165 0 0 0 6,951 Secondary public Elgin County Board of Education 0 5 0 1 979,507 99,547 34,765 80.020 94.141 78,380 9,371 3,273 248342 201 91,815 0501 0 0 0 0 0 0 0 Share of telephone and telegraph taxation 0 5 2 1 0 12. 2,644 2,644 SUBTOTAL SECONDARY PUBLIC 0 5 3 2 0 16. 78,380 12,015 3,273 248 342 201 94,459 Secondary separate Elgin County R.C.S.S. Board 0 7 0 1 65,756 4,445 1,485 70.815 83.312 4,657 370 124 . . __ '5,151 0 7 0 1 0 0 0 0 0 0 0 Share of telephone and telegraph taxation 0 7 2 1 0 19. 05 05 SUBTOTAL SECONDARY SEPARATE 0 7 3 2 0 17. 4 657 455 124 0 0 0 5 236 TOTAL ALL SCHOOL BOARD TAXATION 0 8 3 2 0 14. 172,479 26,092 7,038 511 705 415 207,240 od ANALYSIS OF CURRENT REVENUE Municipality FOR SPECIFIC FUNCTIONS Village of Port Burwell 3 • (7) far the year ended December 31, 1993 other Ontario municipalities fees,service specific Canada grants,fees and charges and grants grants service charges donations 1 2 3 4 $ $ $ $ GENERAL GOVERNMENT 1 350 75,389 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 42,000 5,799 Winter control 9 Transit 10 Parking 11 Street lighting 12 Air transportation 13 .Harbour 14 6,418 23,350 Subtotal 15 42,000 6,418 5,799 23,350 ENVIRONMENTAL SERVICES Sanitary sewer system 16 26,374 Storm sewer system 17 Waterworks system 18 Garbage collection - 19 Garbage disposal 20 737 3,333 Pollution control 21 • 22 Subtotal 23 0 737 3,333 26,374 HEALTH SERVICES Public health services 24 Public health inspections & 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 5,000 115,726 Libraries 38 5,677 0 Other cultural 39 4,094 5,168 9,751 Subtotal 40 9,094 5,168 5,677 125,477 PLANNING AND DEVELOPMENT Planning and zoning 41 10,000 2,500 Commercial and industrial 42 Residential development 43 Agriculture and reforestation 44 Tile drainage/shoreline assistance 45 \\\\\\\\1\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 46 Subtotal 47 0 10,000 0 2,500 Electricity 48 Gas 49 Telephone 50 Total 51 51,444 22,323 14,809 253,090 materials, village et Port ourweit w :or the year ended December}1, 19Q' salaries, services, (6) wages and net rents and transfers inter- employee long term financial to own other functional total benefits debt charges expenses funds transfers transfers expenditure 1 2 3 • 4 5 6 7 8 $ $ $ $ $ $ $ _....,,,. .__._. .. . f TOTAL OF COLUMN 2 IN DES GENERAL GOVERNMENT 1 65,200 153,225 29,447 247,872 1 Payments to Ontart n respect of Downtown Revitaliid on Program loans 81 PROTECTION TO PERSONS AND PROPERTY -- • - Fire 2 14,356 12,409 6,352 33,117 2 Accrued interest (enter an amount only Police 3 0 3 ; if the change to the accrual basis Conservation authority 4 2,077 2,077 4 was made in this reporting year) 82 Protective inspection and control 5 14,364 14,364 5 - -" . 6 - 0 6 Interest portion o ransit debt charges Subtotal 7 14,356 0 26,773 6,352 2,077 0 49,558 7 included on line 0"- 83 .' TRANSPORTATION SERVICES - --.-' Roadways 8 65,355 38,500 3,989 107,844 8 TOTAL OF COLUMN 3 INCLUDES Winter control 9 2,801 2,801 9 Ministry of the Environment Transit 10 0 10 Provincial projects service charges Parking 11 0 11 -water- ",h` 52 51,059 Street lighting 12 9,219 1,162 10,381 12 -sewer53 116,361 Air transportation 13 0 13 Provincial prof frontage and ,Harbour 14 20,194 20,194 14 connection chap es-water 57 Subtotal 15 65,355 0 70,714 5,151 0 0 141,220 15 - . -seAief" 58" ENVIRONMENTAL SERVICES Joint o-watr projectseoperating charges 54 Sanitary sewer system 16 19,220 121,615 21,546 162,381 16 -sewer 55 Storm sewer system 17 0 17 O.P.P. pol'icidg'C azcs' 56' Waterworks system 18 17,852 69,825 17,988 105,665 18 Short term intere6osts 60 9,707 Garbage collection 19 49,036 49,036 19 - - Garbage disposal 20 0 20 Pollution control 21 0 21 TOTAL OF COLUMN 5 INCLUDES ..-- . 22 0 22 Grants to charitable and non-profit Subtotal 23 37,072 0 240,476 39,534 0 0 317,082 23 organizations 62 Grants to universities and colleges 63 HEALTH SERVICES Contribution"s-to UNCONSOLIDATED-- - ' Public health services 24 0 24 joint local boards Public health inspections&control 25 0 25 Health unit :.1,1: 64 Hospitals 26 0 26 District welfare--board 65 Ambulance services 27 0 27 Home for Me egg- --- -- 66- Cemeteries 280 28 Recreation boards) 67 _ . 29 0 29 Fire area board 68 • Subtotal 30 0 0 0 0 0 0 0 30 Suburban roads commission 69 70. SOCIAL AND FAMILY SERVICES 71 • General assistance 31 31 Assistance to aged persons 32 32 y Assistance to children 33 33 - Day nurseries 34 34 LINE 1 OF COLUMN 7 INCLUDES: . 35 35 Members of council 72 16,546 Subtotal 36 0 0 0 0 0 0 36 ..... RECREATION AND CULTURAL SERVICES LINE 51 OF COLUMN 7 INCLUDES: Parks and recreation 37 8,158 93,267 1,897 103,322 37 Payments in respect*of long term commit- Libraries 38 1,985 1,985 38 ments and liabilities financed from revenue, Other cultural 39 8,244 10,522 18,766 39 as approved by.th6 Ontario Municipal Board Subtotal 40 16,402 0 105,774 1,897 0 0 124,073 40 or Council,as the case may be. Exclude A debt charges reported in column 2. 73 , PLANNING AND DEVELOPMENT Planning and zoning 41 23,140 23,14 P41 -- Commercial and industrial 42 42 4 Residential development 43 43 Agriculture and reforestation 44 44 Tile drainage/shoreline assistance 45 \\V\1\\\\\\\\\\ \\1\\\\\\\\\\\\\\\\\\\\\\\\\\\\1\\\1\\\\\\\\\\\\\\\\\\\\\\\\ 45 . 46 46 Subtotal 47 0 0 23,140 0 0 0 23,14 47 Electricity 48 48 6as 49 49 ;Telephone 50 50 Total 51 198,385 0 620,102 82,381 2,077 0 902,94 51 - ANALYSIS OF CAPITAL OPERATIONS Municipality 5 Village of Port Israel (9) for the year ended December 31, 1993 1 UNFINANCED CAPITAL OUTLAY (UNEXPENDED CAPITAL FINANCING) AT THE BEGINNING OF THE YEAR 1 37,000 SOURCES OF FINANCING CONTRIBUTIONS FROM OWN FUNDS Revenue fund 2 33,835 Reserves and reserve funds 3 Subtotal 4 33,835 LONG TERM LIABILITIES INCURRED Central Mortgage and Housing Corporation 5 Ontario Municipal Improvement Corporation 7 Commercial Area Improvement Program 9 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 Subtotalt 18 0 GRANTS AND LOAN FORGIVENESS Ontario 20 0 Canada 21 0 Other municipalities 22 0 Subtotal 23 0 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 33,835 APPLICATIONS OWN EXPENDITURES Short term interest costs • 34 Other 35 33,835 Subtotal 36 33,835 TRANSFERS OF PROCEEDS FROM 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 33,835 UNFINANCED CAPITAL OUTLAY (UNEXPENDED CAPITAL FINANCING) AT THE END OF THE YEAR 43 37,000 AMOUNT REPORTED IN LINE 43 ANALYSED AS FOLLOWS: Unapplied capital receipts 44 To be recovered from: -taxation or user charges within terms of council 45 -proceeds from long term liabilities 46 37,000 -transfers from reserves and reserve funds 47 -other (specify) 48 Total unfinanced capital outlay (unexpended capital financing) 49 37,000 *Amount in line 18 raised on behalf of other municipalities 19 ANALYSIS OF CAPITAL GRANTS Municipality AND OWN EXPENDITURES Village of Port Burwell 6 for the year ended December 31, 1993 (10) CAPITAL GRANTS TOTAL Ontario Canada Other OWN grants grants municipalities EXPENDITURES 1 2 3 4 $ $ $ $ GENERAL GOVERNMENT 1 17,447 PROTECTION TO PERSONS AND PROPERTY Fire 2 3,352 Police 3 Conservation authority 4 Protective inspection and control 5 • 6 Subtotal 7 0 0 0 3,352 TRANSPORTATION SERVICES Roadways 8 3,989 Winter [antral 9 Transit 10 Parking 11 Street lighting 12 1,162 Air transportation 13 14 Subtotal 15 0 0 0 5,151 ENVIRONMENTAL SERVICES Sanitary sewer system 16 Storm sewer system 17 Waterworks system 18 5,988 Garbage collection 19 Garbage disposal 20 Pollution control 21 22 Subtotal 23 0 0 0 5,988 HEALTH SERVICES Public health services 24 Public health inspections & 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 1,897 Libraries 38 Other cultural 39 Subtotal 40 0 0 0 1,897 PLANNING AND DEVELOPMENT Planning and zoning 41 Commercial and industrial 42 Residential development 43 Agriculture and reforestation 44 Tile drainage/shoreline assistance 45 \\\\\\\\1\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\X\11\\ \\\\\\\\\\\\\\\ 46 Subtotal 47 0 0 0 0 Electricity 48 Gas 49 Telephone 50 Total 51 0 0 0 33,835 1. LAT,ON OF DEBT BURDEN _ C;PTLiTY i 6.MINISTRY OF THE ENVIRONMENT?ROVINCIAL PROJECTS total coot issued by the muc:_t_;:,t;, predecessor municipalities and accumulated outstanding consoiioated entities. surplus capital debt :To Ontario and agencies 1 7(deficit) obligations charges :To Canada and agencies :To other 3 1 2 3 Subtotal 4 0 i $ $ Plus: All debt assumed by the municipality from others 5 Nater projects- for this municipality only 46 3,516 (746) -share of integrated project(s) 47 (34,038) 49,364 4,832 Less: All debt assumed by others Sewer projects- for this municipality only 40 : Ontario 6 -share of integrated project(s) 49 :Schoolboards 7 : Other municipalities 8 principal interest Subtotal 9 0 1 2 7. 1993 DEBT CHARGES - S $ Less: Ministry of Environment debt retirement funds Recovered from the consolidated revenue fund -sewer 10 -general tax rates 50 -water 11 -special area rates and special charges 51 Own sinking funds (actual balances) -benefitting landowners --' 52 -general municipal 12 -user rates (consolidated entities) 53 -enterprises and other 13 Recovered from reserve funds 54 Subtotal 14 0 Recovered from unconsolidated entities -hydro - 55 Total 15 0 -gas and telephone 57 Amount reported in line 15 analyzed as follows: - 56 Sinking fund debentures 16 - 58 Installment (serial) debentures 17 - -- 59 Long term bank loans 18 Total 78 0 0 Lease purchase agreements 19 Mortgages 20 8. FUTURE PRINCIPAL AND INTEREST PAYMENTS ON EXISTING NET DEBT Ministry of the Environment 22 Itittitt . 23 . 24 recoverable from the recoverable from recoverable from consolidated revenue fund reserve funds unconsolidated entities principal interest principal interest principal interest N 2. TOTAL DEBT PAYABLE IN FOREIGN CURRENCIES (net of sinking fund holdings) 1 2 34 5 6 U.S. dollars-Canadian dollar equivalent included in line 15 above 25 $ $ i $ f 4 -par value of this amount in U.S. dollars 26 Other -Canadian dollar equivalent included in line 15 above 27 1994 60 -par value of this amount in 28 1995 61 1996 62 1997 63 f 1998 64 3. INTEREST EARNED ON SINKING FUNDS AND DEBT RETIREMENT FUNDS DURING THE YEAR 1999-2003 65 Own funds 29 2004 onwards 79 Ministry of the Environment-sewer 30 Interest to be earned • -water 31 on sinking funds* 69 Downtown Revitalization program 70 i Total 71 0 0 0 0 0 0 4. ACTUARIAL BALANCE OF OWN SINKING FUNDS AT YEAR END 32 t includes interest to be earned on Ministry of the Environment debt retirement funds $ 9. FUTURE PRINCIPAL PAYMENTS ON EXPECTED NEW DEBT . 5.LONG TERM COMMITMENTS AND CONTINGENCIES AT YEAR END itlItttt1I11711 1 Total liability for accumulated sick pay credits 33 13,486 N Total liability under OMERS plans -initial unfunded (payable over_ __years)(number of employees_)34 1994 19,188 72 -actuarial deficiency (payable over years) 35 1995 20,915 73 Total liability for own pension funds 1996 22,797 74 -initial unfunded (payable over__years)(number of employees_I 36 1997 24,849 75 -actuarial deficiency (payable over_years) 37 1998 277,084 76 over _years) 38 Total 77 0 Commitments and liabilities financed from revenue, as approved by the Ontario Municipal Board or Council, as the case may be 10.OTHER NOTES (ATTACH SUPPORTING SCHEDULE AS REQUIRED) -hospital support 39 -university support 40 -leases h other agreements 41 Other (specify). 42 • 43 • 44 Total 45 13,486 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 B 9 10 12 11 Included in general mill rate for upper tier purposes S $ $ $ $ $ 1 $ f $ $ . General requisition 1 70,252 572 70,82 1 Special purpose requisitions Water rate 22 Transit rate S 3 Sewer rate 4 4 Library rate 5 5 Road rate 6 6 7 & • . 8 B 9 9 .Telephone and telegraph taxation 10 2,270 2,27 10 Subtotal levied by mill rate-general 11 72,522 572 73,09 70,824 2,270 0 0 0 73,094 0 11 Special purpose requisitions Water 12 ... -12-' • Transit 13 13 Sewer 14 14 t Library 1515 . 16 _ . ... ._ . . 17 17 Subtotal levied by mill rate-special areas 18 0 0 0 0 18 Special charges 19 0 0 0 0 19 • Direct water billings 20 0 0 0 0 20 Sewer surcharge on direct water billings 21 0 0 0 0 21 Total region and county 22 0 72,522 572 73,094 70,824 2,270 0 0 0 73,094 0 22 pupils' telephone share of pupils' ' ._ balance at fees, share and payments fees,share balance SCHOOL BOARDS 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 1 2 3 4 5 6 7 B 9 10 11 $ $ $ $ f $ f $ $ f $ Elementary public (specify) .Elgin County Board of Education 30 99,754 840 100,594 97,518 3,076 • "." .._'100,594 0 30 . 31 0 0 0 0 0 31 • Elementary separate (specify) -- `' -' -- - .Elgin County R.C.S.S. Board 40 6,950 0 6,951 6,852 99 6,951 0 40 . 41 0 0 0 0 0 41 J • 420 0 42 Secondary public (specify) - ... ' . .Elgin County Board of Education 50 93,668 791 94,459 91,815 2,644 94,459 0 50 51 0 0 0 0 0 51 Secondary separate (specify) - `.-"" . ..- .Elgin County R.C.S.S. Board 70 5,236 0 5,236 5,151 85 5,236 0 70 71 0 0 0 0 0 71 • 72 _ 72 Total school boards 36 0 205,608 1,631 0 207,240 201,336 5,904 0 0 207,240 0 36