HomeMy WebLinkAboutFinancial Statements 1994 T ,Ltkuoci-c-
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Financial Statements of
THE CORPORATION OF THE
VILLAGE OF PORT BURWELL
December 31, 1994
7%717 Redfern, More L Co.
\C1 CHARTERED ACCOUNTANTS
PARTNFRS
J.A.Di GIOVANNI,B.Comm.,C.A.
R.E.BARTH,B.Sc..C.A.
B.D.GREEN,B.A.,C.A. MANAGER
B.M.BUDARICK,B.Comm.,C.A. R.ALLEN,B.A.,C.G.A.
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, 1994 and the consolidated statement of operations for the year then
ended. These consolidated financial statements are the responsibility of the corporation'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 as at December 31, 1994 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, as modified in agreement with the Ministry of
Municipal Affairs.
, C141
CHARTERED ACCOUNTANTS
Tillsonburg, Ontario
March 16, 1995
License Number 15898
22 HARVEY STREET, P.O.BOX 247,TILLSONBURG,ONTARIO N4G 4H5
Tel:(519)842-3604 Fax:(519)842-2178
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Consolidated Balance Sheet
December 31, 1994
1994 1993
$ $
ASSETS
Unrestricted
Cash - 29,897
Taxes receivable 33,670 45,697
User charges receivable 45,008 61,935
Accounts receivable 99,168 75,258
Prepaid expenses 4,501 -
182,347 212,787
Restricted
Cash 40,038 9,022
Capital outlay financed by long-term liabilities and to
be recovered in future years (note 1) 162,788 -
385,173 221,809
LIABILITIES
Current liabilities
Bank indebtedness 2,902 -
Temporary loan - 115,000
Accounts payable and accrued liabilities 205,473 121,767
Nevada funds payable (note 2) 45,799 -
254,174 236,767
Net long-term liabilities (note 6) 162,788 -
FUND BALANCES AT THE END OF THE YEAR
To be recovered from taxation or user charges (note 7) (52,017) (77,833)
Capital operations not yet permanently financed (note 7) (89,117) (37,000)
Reserves (note 8) 69,307 69,307
Reserve funds (note 8) 40,038 30,568
385,173 221,809
See accompanying notes to the financial statements
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Consolidated Statement of Operations
For the Year Ended December 31, 1994
Unaudited Audited Audited
Budget Actual Actual
1994 1994 1993
$ $ $
SOURCES OF FINANCING:
Taxation and user charges
Residential and farm taxation 432,218 419,675 415,898
Commercial and industrial taxation 58,930 58,811 62,225
Business taxation 15,934 15,889 17,377
Taxation from other governments 15,000 13,424 12,760
Water and sewer billings 223,400 219,405 233,537
User charges 202,943 101,515 264,521
948,425 828,719 1,006,318
Grants
Province of Ontario 311,579 288,027 158,149
Government of Canada 31,479 18,693 22,323
Other municipalities 13,254 6,379 9,132
356,312 313,099 189,604
Other
Penalties on taxes 10,000 6,861 10,094
Investment income 1,500 1,347 528
Donations 2,500 4,926 4,785
14,000 13,134 15,407
Deduct
Amounts for county and school boards (290,542) (297,186) (280,334)
Proceeds from the issue of long-term liabilities 260,000 162,788 -
Total sources of financing 1,288,195 1,020,554 930,995
MUNICIPAL FUND BALANCES
AT THE BEGINNING OF THE YEAR (note 7)
To be recovered from taxation or user charges (77,833) (77,833) (105,883)
Capital operations not yet permanently financed (37,000) (37,000) (37,000)
Total financing available during the year 1,173,362 905,721 788,112
See accompanying notes to the financial statements
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Consolidated Statement of Operations
For the Year Ended December 31, 1994
Unaudited Audited Audited
Budget Actual Actual
1994 1994 1993
$ $ $
APPLIED TO:
Current operations
General government 181,379 203,605 240,604
Fire protection 33,075 21,763 26,765
Other protection 26,760 29,214 16,441
Transportation services 109,720 121,253 115,875
Sanitary sewers 116,330 75,191 140,835
Waterworks system 76,070 76,438 87,677
Garbage collection 52,000 58,035 49,036
Recreation and cultural services 94,228 87,174 120,191
Planning and development 10,500 8,274 23,140
700,062 680,947 820,564
Capital
General government 49,000 58,155 17,447
Harbour 18,000 9,000 -
Protection to persons and property 17,800 10,762 3,352
Transportation services 174,500 133,062 5,151
Waterworks system 103,000 107,118 5,988
Recreation and cultural services 40,000 38,695 1,897
402,300 356,792 33,835
Net appropriations to reserves and reserve funds 71,000 9,116 48,546
Total funds applied 1,173,362 1,046,855 902,945
MUNICIPAL FUND BALANCES
AT THE END OF THE YEAR (note 7)
To be recovered from taxation or user charges - (52,017) (77,833)
Capital operations not yet permanently financed - (89,117) (37,000)
Total applications during the year 1,173,362 905,721 788,112
See accompanying notes to the financial statements
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Notes to the Financial Statements
For the Year Ended December 31, 1994
1. SUMMARY OF SIGNIFICANT 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 judgments.
Basis of Consolidation
(i) These consolidated statements reflect the assets, liabilities, sources of financing and
expenditures of the revenue fund, capital fund, reserve funds and reserves. The
consolidated statements also include the activities of all committees of Council and
the following boards 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, liabilities, sources of financing and expenditures have been
eliminated with the exception of loans or advances between the reserve funds and
any other funds of the municipality and the resulting interest income and expense.
(ii) Non-consolidated entities
There are no non-consolidated entities.
(iii) Accounting for County and School Board Transactions
The taxation, other revenue, 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").
(iv) The trust fund and its related operations administered by the Village is not
consolidated, but are reported separately on the "Trust Funds Statement of
Continuity and Balance Sheet".
Basis of Accounting
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 period in which they are paid.
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.
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Notes to the Financial Statements
For the Year Ended December 31, 1994
Capital Assets
The historical cost and accumulated amortization for capital assets are not recorded
for municipal purposes. Capital assets are reported as an expenditure on the
Consolidated Statement of Operations in the year of acquisition.
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 is
reported on the Consolidated Balance Sheet.
2. NEVADA FUNDS PAYABLE
The municipality, through the operations of the Port Burwell Recreation Board, has been
recording lottery related revenue, expenditures, assets and surplus in its consolidated
financial statements since 1991. Surplus generated from Nevada funds has been taken
into account in the past when the municipality set its budget and mill rates. At the time,
the Village believed this to be acceptable accounting practice. The Gaming Control
Commission states that Nevada related revenues and expenditures are not to be recorded
in a municipality's financial statements. Removing the Nevada revenue, expenditures
and surplus has caused the 1994 deficit to increase by $53,606, of which $17,679 relates
to 1994 activity and $35,927 relates to 1991, 1992 and 1993. All adjustments have been
reflected through the 1994 financial statements.
An amount of $45,799 is payable to the Port Burwell Community Improvement and
Recreation Society, an organization that is autonomous from municipal operations.
3. OPERATIONS OF SCHOOL BOARDS AND THE COUNTY OF ELGIN
Further to note 1(iii) above, the taxation, other revenue, expenditures and overlevies of
the school boards and the County of Elgin are comprised of the following:
School
Boards County
$ $
Taxation and user charges 206,056 91,130
Requisitions 206,056 91,130
Overlevies (underlevies), end of year - -
4. LIABILITY FOR VESTED SICK LEAVE BENEFITS
The municipality joined OMERS at the start of 1995. All sick leave benefits were paid
out in full during 1994 and will no longer be accumulated.
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Notes to the Financial Statements
For the Year Ended December 31, 1994
5. TRUST FUNDS
Trust funds administered by the municipality amounting to $45,351 (unaudited)(1993 -
$118,347) have not been included in the Consolidated Balance Sheet nor have their
operations been included in the Consolidated Statement of Operations.
6. NET LONG-TERM LIABILITIES
(a) The balance of net long-term liabilities reported on the Consolidated Balance Sheet
is made up of the following:
1994 1993
$ $
Total long-term liabilities incurred by the municipality
including those incurred on behalf of school boards,
other municipalities and municipal enterprises and
outstanding at the end of the year amount to 162,788 -
(b) Of the net long-term liabilities reported in (a) of this note, $162,788 in principal
payments are payable from 1995 to 1999 and are recoverable from general municipal
revenues and consolidated municipal enterprises.
(c) There were no principal or interest charges pertaining to net long-term liabilities
reported in the Consolidated Statement of Operations.
7. MUNICIPAL FUND BALANCES
The balances on the Consolidated Statement of Operations of municipal deficit of
$(141,134) (1993 - $(114,833)) at the end of the year are comprised of the following:
1994 1993
$ $
For general increase of taxation (25,143) (35,116)
For general reduction (increase) of user charges
- Water 15,455 (929)
- Sewer (16,143) (67,535)
- Recreation (25,363) 26,763
- Museum (823) (1,016)
(52,017) (77,833)
Acquisition of capital assets to be financed
from taxation or user charges (89,117) (37,000)
(141,134) (114,833)
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Notes to the Financial Statements
For the Year Ended December 31, 1994
8. RESERVES AND RESERVE FUNDS
The total balance of reserves and reserve funds of $69,307 (1993 - $69,307) and
$40,038 (1993 - $30,568) respectively are made up of the following:
1994 1993
$ $
Reserves set aside for specific purpose by Council
For working capital 54,307 54,307
For waterworks purposes 15,000 15,000
69,307 69,307
Reserve funds set aside for specific purpose by Council
For acquisition of fire truck 14,139 9,022
For sewage treatment plant capital 21,793 21,546
For museum 2,906
For seawall repair 1,200 -
40,038 30,568
9. CONTINGENCY - ONTARIO CLEAN WATER AGENCY
In accordance with a service agreement entered into by the Village with the Ministry of
Environment, which was subsequently assumed by the Ontario Clean Water Agency,
existing sewage and water systems are owned and operated by the Agency. 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 1994 charges from the
Agency for water of $42,857 and for sewage of $43,234 which the Village feels is full
payment of 1994 fees. The Agency states that the Village still owes a further $23,836
related to 1994 sewage operations. Negotiations are in progress to resolve this issue.
No provision has been made in the consolidated financial statements for this issue as the
outcome is not yet determinable.
Information received from the Agency as at March 31, 1994, indicates the following:
Total
Outstanding
Accumulated 1994 Debt Long-Term
(Deficit) Charges Liabilities
Water systems $ (35,615) $ 4,282 $ 71,008
The operating surplus and long-term liabilities indicated above are not reflected in the
accompanying financial statements.
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Notes to the Financial Statements
For the Year Ended December 31, 1994
10. CONTINGENCY - OUTSTANDING 1993 AUDITING AND CONSULTING FEES
The 1993 consolidated financial statements include an expenditure and payable of
$22,315 for audit and related services. In the opinion of the Village and legal counsel,
the municipality has a valid claim for non-payment of this charge. The prior year
payable of $22,315 has been reversed out of the 1994 consolidated financial statements
which decreased the 1994 deficit by $22,315. The net result is that the 1993 and 1994
transactions described above cancel each other. No provision has been made in the
financial statements for the legal claim by the prior auditors as the outcome is not yet
determinable.
Council has notified the Ministry of Municipal Affairs that it will be setting aside
general reserves in its 1995 budget to cover potential legal fees or payment of court
settlement.
11. 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
25% of the 1993 social contract target amount and the corresponding reduction of
unconditional grants until 1996. For the Village of Port Burwell, the target amount for
each year is $1,378 and the deferred amount is $345.
12. SUPERVISION
During 1993, 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. The Part II supervision was lifted effective
January 24, 1995.
13. RECLASSIFICATION
Certain 1993 balances have been reclassified to conform to the 1994 financial statement
presentation.
14. COMPARATIVE FIGURES
The comparative figures for 1993 are based upon financial statements which were
reported on by other auditors.
Financial Statements of the
THE VILLAGE OF PORT BURWELL
OHRP TRUST FUND
December 31, 1994
Redfern, More ( Co.
CHARTERED ACCOUNTANTS
PARTNFRS
J.A.Di GIOVANNI,B.Comm.,C.A.
R.E.BARTH,B.Sc.,C.A.
MANAGER
B.D.GREEN,B.A.,C.A.
R.ALLEN,B.A.,C.G.A.
B.M.BUDARICK,B.Comm.,C.A.
AUDITORS' REPORT
To the Members of Council, Inhabitants and Ratepayers of
The Corporation of the Village of fort 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, 1994 and the statement of continuity for the year then ended.
These financial statements are the responsibility of the Village's management. Our
responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those
standards require that we plan and perform an audit to obtain reasonable assurance whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
In our opinion, these financial statements present fairly, in all material respects, the financial
position of the OHRP Trust Fund of the Corporation of the Village of Port Burwell as at
December 31, 1994 and the results of its operations and the changes in financial position for the
year then ended in accordance with generally accepted accounting principles, as modified in
agreement with the Ministry of Housing.
flt.,40itue.) 'Fib'•
CHARTERED ACCOUNTANTS
Tillsonburg, Ontario
May 29, 1995
License Number 15898
22 HARVEY STREET, P.O.BOX 247,TILLSONBURG,ONTARIO N4G 4H5
Tel:(519)842-3604 Fax:(519)842-2178
OHRP TRUST FUND
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Statement of Continuity
Year ended December 31, 1994
1994 1993
$ $
Balance, beginning of year 118,347 114,779
Capital Receipts
Interest income - loans 2,284 2,492
Interest income - bank 986 2,676
3,270 5,168
Expenditures
OHRP - loans forgiven - 1,600
Repayment to Ministry of Housing 76,267 -
Village of Port Burwell administration fee 198 -
76,465 1,600
Excess (deficiency) Revenue over Expenditures (73,195) 3,568
Balance, end of year 45,152 118,347
Balance Sheet
December 31, 1994
1994 1993
$ $
Assets
Cash 4,938 76,267
Other assets (note 3)
Loans receivable - repayable 37,612 37,815
Loans receivable - forgivable 2,800 4,265
45,350 118,347
Liability
Administration fee payable 198 -
Fund Balance
Balance - capital 45,152 118,347
45,350 118,347
See accompanying notes to financial statements
OHRP TRUST FUND
THE CORPORATION OF THE VILLAGE OF PORT BURWELL
Notes to the Financial Statements
Year ended December 31, 1994
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
These financial statements reflect the day to day operations of the OHRP Trust Fund,
under administration by the Corporation of the Village of Port Burwell. The Trust
Fund's receipts, disbursements, assets and liabilities are not included in the Village's
consolidated financial statements.
The financial statements of the OHRP Trust Fund are the representations of management
prepared in accordance with accounting policies prescribed for Ontario municipalities by
the Ministry of Housing. 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
judgment.
Basis of Accounting
The accrual basis of accounting is used for the trust fund.
2. ONTARIO HOME RENEWAL PROGRAM
The Ontario Home Renewal Program (OHRP) 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.
In July 1993, OHRP was discontinued by the Ontario Ministry of Housing. No further
OHRP loans will be issued under the program and the balance in the OHRP bank trust
account at the end of the year is to be returned to the Province. Homeowners who
currently have OHRP loans will not be affected by the cancellation of the program.
Ontario Home Renewal Program loans receivable at December 31, 1994 is comprised of
repayable loans of $37,612 (1993 - $37,815) and forgivable loans of $2,800 (1993 -
$4,265). 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 becomes due and payable by the
homeowner.
3. COLLECTIBILITY OF LOANS
Only one loan payment was received in 1994. The collectibility of loans receivable is
questionable. No allowance has been recorded for potentially uncollectible accounts.
4. COMPARATIVE FIGURES
The comparative figures for 1993 are based upon financial statements which were
reported on by other auditors.
1994 FINANCIAL INFORMATION RETURN
MUNICIPALITY: Village of Port Burwell
in the Dian, Countyx:ati}i9toiet of: Elgin
•
DECLARATION OF THE MUNICIPAL TREASURER
Pursuant to the determination of grants under the Ontario Unconditional Grants Act,and to the informal ion
required by the Province under the Municipal Affairs Act,the following schedules are attached:
AIInched
x
1 Analysis of Revenue Fund Revenues —
221,T Analysis of Taxation x
2UT Analysis of Upper Tier Requisitions and Direct Charges ilia
2MA Analysis of Taxation in Merged Areas ._x
3 Analysis of Current Revenue for Specific Functions x
—
4 Analysis of Revenue Fund Expenditures' x
x
5 Analysis of Capital Operations
6 Analysis of Capital Grants and Own Expenditures x
7 Analysis of Net Long Term Liabilities By Function x
8 Analysis of Long Term Liabilities and Commitments —
x
9LT Continuity of Upper Tier and School Board Leviesx
—
10 Continuity of Reserves and Reserve Funds x
I 1 Analysis of Consolidated Year End Balancesx
_x
12 Statistical Data
15 Ontario Financing of Capital Loan Repaymentsa
13 Grant Information n/a
14 Grant Information nLa
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
hoards 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 Redfern, More & Co.
(Auditor's run or name of(vIunicipality)
Questions regarding the information contained in them should be addressed to
Brian Budarick „l (519) 042 3604
(Arca cote nil telephone)
4111111
Date . .Gl A/L I` 1995 ... t•.../
M ticipa rea rarer
ONTARIO
MINISTRY OF MUNICIPAL AFFAIRS
1994 FINANCIAL INFORMATION RETURN
Please read instructions before completing
(Round amounts to nearest dollar)
Municipality: Port Burwell
Status: LOWER TIER
Regn/Cty/Dist: ELGIN
Cnty/Mn Code: 3402 from Assessment Roll
Is this an upper tier municipality?: N (Y/N)
Are merged areas being reported?: N (Y/N)
Computer use:
nThil Redfern, More €3 Co.
CHARTERED ACCOUNTANTS
PARTNERS
J.A.Di GIOVANNI,B.Comm.,C.A.
R.E.BARTH,B.Sc..C.A.
B.D.GREEN,B.A.,C.A. J IANAQ
B.M.BUDARICK,B.Comm.,C.A. R.ALLEN,B.A.,C.G.A.
ACCOUNTANT'S REPORT
IN ACCORDANCE WITH SCHEDULES 1 TO 11 AND 15
OF THE FINANCIAL INFORMATION RETURN
To the Ministry of Municipal Affairs
Our audit of the consolidated financial statement of the Corporation of the Village of Port Burwell for the year
ended December 31, 1994 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 16, 1995. Schedules 1 to 11 and 15 of the 1994 Financial Information Return have not been prepared
on the same basis as the consolidated financial statements.
For purposes of this report we have performed, at your request, the following procedures in connection with
Schedules 1 to 11 and 15 of the Financial Information Return of the Corporation of the Village of Port Burwell
for the year ended December 31, 1994.
(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 1994 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 and 15 of the 1994 Financial Information Return.
Tillsonburg, Ontario ,
May 29, 1995 REDFERN, MORE & CO.
License Number 15898
Chartered Accountants
22 HARVEY STREET, P.O.BOX 247,TILLSONBURG,ONTARIO N4G 4H5
Tel:(519)842-3604 Fax:(519)842-2178
SCHEDULE 1 Port Burwell
ANALYSIS OF REVENUE FUND upper school
REVENUES total tier board own
For the year ending Dec 31, 1994 revenue purposes purposes purposes
Note: Upper tiers use column 4 only
1 2 3 4
$ $ $ $
Taxation
Taxation from schedule 2LT
(or requsitions from schedule 2UT) 1 494,375 86,247 206,129 201,999
Direct water billings on ratepayers
-- own municipality 2 89,081 89,081
-- other municipalities 3 3,742 3,742
Sewer surcharge on direct water billings
-- own municipality 4 126,582 126,582
-- other municipalities 5 0
Subtotal 6 713,780 86,247 206,129 421,404
Payments in lieu of taxes
Canada 7 0
Canada enterprises 8 0
Ontario
The Municipal Tax Assistance Act 9 10,112 4,810 5,302
The Municipal Act, section 160 10 0
Other 11 0
Ontario enterprises
Ontario Housing Corporation 12 0
Ontario Hydro 13 0
Liquor Control Board of Ontario 14 3,312 3,312
Other 15 0
Municipal enterprises 16 0
Other municipalities and enterprises 17 0
Subtotal 18 13,424 4,810 0 8,614
Ontario unconditional grants
Per household general 19 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
Per household police 20 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
Transitional and special assistance 22 0
Resource equalization 23 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
General support 24 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
Northern special support 25 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
Apportionment guarantee 26 0
Revenue guarantee 27 xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
Subtotal 28 106,360 106,360
Revenues for specific functions
Ontario specific grants 29 48,792 48,792.
Canada specific grants 30 9,681 9,681
Other municipalities--grants and fees 31 12,056 12,056
Fees, service charges and donations 32 91,430 91,430
Subtotal 33 161,959 0 0 161,959
Other revenue
Trailer revenue and licences 34 0
Licences and permits 35 9,334 9,334
Fines 37 0
Penalties and interest on taxes 38 6,861 6,861
Investment income--from own funds 39 1,347 1,347
--other 40 0
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
Other 46 0
47 0
48 0
Sale of land 49 0
Subtotal 50 17,542 0 0 17,542
Total revenue 51 1,013,065 91,057 206,129 715,879
SCHEDULE 3 Port Burwell
ANALYSIS OF CURRENT REVENUES other
FOR SPECIFIC FUNCTIONS Ontario municip'ties fees, service
For the year ending Dec 31, 1994 specific Canada grants, fees & charges &
grants* grants service charges donations
1 2 3 4
$ $ $ $
General government 1 1,800 9,681 45,681
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 41,992 5,754
Winter control 9
Transit 10
Parking 11
Street lighting 12
Air transportation 13
Harbour 14 625 11,350
Subtotal 15 41,992 0 6,379 11,350
Environmental services
Sanitary sewer system 16 546
Storm sewer system 17
Waterworks system 18
Garbage collection 19
Garbage disposal 20
Pollution control 21
22
Subtotal 23 0 0 0 546
Health services
Public health services 24
Public health inspection and control 25
Hospitals 26
Ambulance services 27
Cemeteries 28
29
Subtotal 30 0 0 0 0
Social and family services
General assistance 31
Assistance to aged persons 32
Assistance to children 33
Day nurseries 34
35
Subtotal 36 0 0 0 0
Recreation and cultural services
Parks and recreation 37 5,000 22,425
Libraries 38 5,677
Other cultural 39 11,128
Subtotal 40 5,000 0 5,677 33,553
Planning and development
Planning and zoning 41 300
Commercial and industrial 42
Residential development 43
Agricultural and reforestation 44
Tile drainage/shoreline assistance 45 xxxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
46
Subtotal 47 0 0 0 300
Electricity 48
Gas 49
Telephone 50
Total 51 48,792 9,681 12,056 91,430
* includes Ontario financing of capital loans repayments (for details see schedule 15)
SCHEDULE 5 Port Burwell
ANALYSIS OF CAPITAL OPERATIONS
For the year ending Dec 31, 1994 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
Reserves and reserve funds 3
Subtotal 4 0
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
Ontario Clean Water Agency 11
Other loans from Ontario Capital Corporations 50
Tile drainage and shoreline property
assistance programs 12
The Public
Serial debentures 13
Sinking fund debentures 14
CIBC 15 162,788
16
17
Subtotal * 18 162,788
Grants and loan forgiveness
Ontario 20 132,875
Canada 21 9,012
Other municipalities 22 0
Subtotal 23 141,887
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 33 304,675
Applications
Own expenditures
Short term interest costs 34
Other 35 356,792
Subtotal 36 356,792
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 42 356,792
Unfinanced capital outlay (Unexpended capital
financing) at the end of the year 43 89,117
Amount reported in line 43 analysed as follows:
Unapplied capital receipts (negative) 44
To be recovered from:
--taxation or user charges within term of council 45
--proceeds from long term liabilities 46 89,117
--transfers from reserves and reserve funds 47
--other (specify) 48
Total unfinaced capital outlay
(unexpended capital financing) 49 89,117
*amount in line 18 raised on behalf of
other municipalities 19
SCHEDULE 6 Port Burwell
ANALYSIS OF CAPITAL GRANTS
AND OWN EXPENDITURES CAPITAL GRANTS
For the year ending Dec 31, 1994 TOTAL
Ontario Canada Other OWN
grants grants municip'ties EXPENDITURES
1 2 3 4
$ $ $ $
General government 1 9,012 9,012 58,155
Protection to persons and property
Fire 2 10,762
Police 3
Conservation authority 4
Protective inspection and control 5
6
Subtotal 7 0 0 0 10,762
Transportation services
Roadways 8 36,508 128,296
Winter control 9
Transit 10
Parking 11
Street lighting 12 4,766
Air transportation 13
Harbour 14 9,000
Subtotal 15 36,508 0 0 142,062
Environmental services
Sanitary sewer system 16
Storm sewer system 17
Waterworks system 18 87,355 107,118
Garbage collection 19
Garbage disposal 20
Pollution control 21
22
Subtotal 23 87,355 0 0 107,118
Health services
Public health services 24
Public health inspection and control 25
Hospitals 26
Ambulance services 27
Cemeteries 28
29
Subtotal 30 0 0 0 0
Social and family services
General assistance 31
Assistance to aged persons 32
Assistance to children 33
Day nurseries 34
35
Subtotal 36 0 0 0 0
Recreation and cultural services
Parks and recreation 37 38,201
Libraries 38
Other cultural 39 494
Subtotal 40 0 0 0 38,695
Planning and development
Planning and zoning 41
Commercial and industrial 42
Residential development 43
Agricultural and reforestation 44
Tile drainage/shoreline assistance 45 xxxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
46
Subtotal 47 0 0 0 0
Electricity 48
Gas 49
Telephone 50
Total 51 132,875 9,012 0 356,792
SCHEDULE 7 Port Burwell
ANALYSIS OF NET LONG TERM
LIABILITIES BY FUNCTION 1
For the year ending Dec 31, 1994 $
General government 1 51,949
Protection to persons and property
Fire 2 2,142
Police 3
Conservation authority 4
Protective inspection and control 5
6
Subtotal 7 2,142
Transportation services
Roadways 8 39,864
Winter control 9
Transit 10
Parking 11
Street lighting 12 4,766
Air transportation 13
Harbour 14
Subtotal 15 44,630
Environmental services
Sanitary sewer system 16
Storm sewer system 17
Waterworks system 18 28,276
Garbage collection 19
Garbage disposal 20
Pollution control 21
22
Subtotal 23 28,276
Health services
Public health services 24
Public health inspection and control 25
Hospitals 26
Ambulance services 27
Cemeteries 28
29
Subtotal 30 0
Social and family services
General assistance 31
Assistance to aged persons 32
Assistance to children 33
Day nurseries 34
35
Subtotal 36 0
Recreation and cultural services
Parks and recreation 37 35,791
Libraries 38
Other cultural 39
Subtotal 40 35,791
Planning and development
Planning and zoning 41
Commercial and industrial 42
Residential development 43
Agricultural and reforestation 44
Tile drainage/shoreline assistance 45
46
Subtotal 47 0
Electricity 48
Gas 49
Telephone 50
Total 51 162,788
SCHEDULE 8 Port Burwell
ANALYSIS OF LONG TERM
LIABILITIES AND COMMITMENTS 1
For the year ending Dec 31, 1994 $
1. Calculation of debt burden of the municipality
All debt issued by the municipality, predecessor
municipalities and consolidated entities
: To Ontario and agencies 1
: To Canada and agencies 2
: To other 3 162,788
Subtotal 4 162,788
Plus: All debt assumed by the
municipality from others 5
Less: All debt assumed by others
: Ontario -- special purpose loans 80
: Ontario -- other 81
: Schoolboards 7
: Other municipalities 8
Subtotal 9 0
Less: Ontario Clean Water Agency
debt retirement funds--sewer 10
--water 11
Own sinking funds (actual balances)
--general 12
--enterprises and other 13
Subtotal 14 0
Total 15 162,788
Amount reported in line 15 analysed as follows:
Sinking fund debentures 16
Installment (serial) debentures 17
Long term bank loans 18 162,788
Lease purchase agreements 19
Mortgages 20
Ontario Clean Water Agency 22
23
24
2. Total debt payable in foreign currencies
(net of sinking fund holdings)
U.S. $--Cdn $ equivalent incl in line 15 above 25
--par value of this amount in U.S.$ 26
Other --Cdn $ equivalent incl in line 15 27
--par value of this amount in 28
3. Interest earned on sinking funds and debt
retirement funds during the year
Own funds 29
Ontario Clean Water Agency--sewer 30
--water 31
4. Actuarial balance of own sinking funds
at year end 32
5. Long term conmitments and contingencies at year end
Total liability for accumulated
sick pay credits 33
Total liability under OMERS plans
--initial unfunded 34
(payable over _ yrs)(no. of employees _)
--actuarial deficiency 35
(payable over _ yrs)
Total liability for own pension funds
--initial unfunded 36
(payable over _ yrs)(no. of employees _)
--actuarial deficiency 37
(payable over _ yrs)
Outstanding loan guarantees 38
(payable over _ yrs)
Commitments and liabilities financed from revenue,
as approved by the Ontario Municipal Board or
Council, as the case may be
--hospital support 39
--university support 40
--Leases and other agreements 41
Other (specify) . 42
43
44
Total 45 0
SCHEDULE 8 Port Burwell
ANALYSIS OF LONG TERM
LIABILITIES AND COMMITMENTS
For the year ending Dec 31, 1994
6. Ontario Clean Water Agency Provincial Projects total
accumulated outstanding
surplus capital debt
(deficit) obligations charges
1 2 3
$ $ $
Water projects--for this municipality only 46
--share of integrated project(s) 47 (35,615) 71,008 4,282
Sewer projects--for this municipality only 48
--share of integrated project(s) 49
principal interest
7. 1994 Debt Charges 1 2
Recovered from consolidated revenue fund $ $
--general tax rates* 50 2,592
--special area rates and special charges 51
--benefitting landowners 52
--user rates (consolidated entities) 53 771
Recovered from reserve funds 54
Recovered from unconsolidated entities
--hydro 55
--gas and telephone 57
-- 56
-- 58
-- 59
Total 78 0 3,363
8. Future principal and interest payments on EXISTING net debt
recoverable from the recoverable from recoverable from
consolidated revenue fund reserve funds unconsolidated entities
principal interest principal interest principal interest
1 2 3 4 5 6
$ $ $ $ $ $
1995 60 32,558 22,000
1996 61 32,558 17,000
1997 62 32,558 12,000
1998 63 32,557 7,000
1999 64 32,557 2,000
2000-2004 65
2005 onwards 79
Interest to be earned
on sinking funds* 69
Downtown revital-
ization program 70
Total 71 162,788 60,000 0 0 0 0
*includes interest to be earned on Ontario Clean Water Agency debt retirement funds
9. Future principal payments on EXPECTED NEW debt
1
$
1995 72
1996 73 29,966
1997 74 29,966
1998 75 29,966
1999 76 29,966
Total - 77 119,864
10. Other notes; please submit other notes in paper copy, and
attach supporting schedule as required.
* includes Ontario financing of capital loan repayments (for details see schedule 15)
SCHEDULE 10 Port Burwell
CONTINUITY OF RESERVES
AND RESERVE FUNDS 1
For the year ending Dec 31, 1994 $
Balance at beginning of year 1 99,875
Revenues
Contributions from revenue fund 2 9,116
Contributions from capital fund 3
Development Charges Act 67
Lot levies and subdivider contrbutions 60
Recreational land (the Planning Act) 61
Investment income--from own funds 5
--other 6 354
9
10
11
12
Total revenue 13 9,470
Expenditures
Transferred to capital fund 14
Transferred to revenue fund 15
Charges for long term liabilities
--principal and interest 16
63
20
21
Total expenditure 22 0
Balance at end of year for:
Reserves 23 69,307
Reserve funds 24 40,038
Total 25 109,345
analysed as follows:
Working funds 26 54,307
Contingencies 27
Ontario Clean Water Agency funds for renewals, etc
--sewer 28
--water 29
Replacement of equipment 30 14,139
Sick leave 31
Insurance 32
Workers' compensation 33
Capital expenditure--general administration 34
--roads 35
--sanitary and storm sewers 36 21,793
--parks and recreation 64
--library 65
--other cultural 66 2,906
--water 38
--transit 39
--housing 40
--industrial development 41
--other and unspecified 42 1,200
Development Charges Act 68
Lot levies and subdivider contributions 44
Recreational land (the Planning Act) 46
Parking revenues 45
Debenture debt 47
Exchange rate stabilization 48
Waterworks current purposes 49 15,000
Transit current purposes 50
Library current purposes 51
52
53
54
55
56
57
Total 58 109,345
SCHEDULE 11 Port Burwell
ANALYSIS OF CONSOLIDATED
YEAR END BALANCES 1 2
For the year ending Dec 31, 1994 $ $
ASSETS not in
Current assets chartered bank
Cash 1 40,038
Accounts receivable
Canada 2 19,662✓
Ontario 3 58,139 /
Region or county 4
Other municipalities 5
School boards 6portion of
Waterworks 7 45,008'taxes rec'ble
Other (including unorganized areas) 8 21,367 for business
Taxes receivable taxes
Current year's levies 9 24,508 (138)
Previous year's levies 10 4,429 103
Prior years' levies 11 2,730 425
Penalties and interest 12 2,003 0
Less allowance for uncollectables (negative) 13
Investments (market value $)
Canada 14
Provincial 15
Municipal 16 portion of
Other 17 line 20 for
Other current assets 18 4,501✓ tax sale/tax
Capital outlay to be recovered in future years 19 162,788 registration
Other long term assets 20
Total 21 385,173
LIABILITIES not from
chartered
Current liabilities banks
Temporary loans--current purposes 22 2,902
--capital--Ontario 23
--Canada 24
--Other 25
Accounts payable and accrued liabilities
Canada 26 2,780
Ontario 27 7,550
Region or county 28 6,928
Other municipalities 29 1,875
School boards 30 682
Trade accounts payable 31 185,658
Other 32 45,799
Other current liabilities 33
Net long term liabilities
Recoverable from the Consolidated Revenue Fund
--general tax rates 34 162,788
--special area rates and special charges 35
--benefitting landowners 36
--user rates (consolidated entities) 37
Recoverable from Reserve Funds 38
Recoverable from unconsolidated entities 39
Less:Own holdings (negative) 40
Reserves and reserve funds 41 109,345
Accumulated net revenue (deficit)
General revenue 42 (25,143)
Special charges and special areas (specify)
43
44
45
46
Consolidated local boards (specify)
Transit operations 47
Water operations 48 15,455
Libraries 49
Cemeteries 50
Recreation, community centres and arenas 51 (25,363)
Sewer operations 52 (16,143)
Museum 53 (823)
54
55
Region or county 56
School boards 57
Unexpended capital financing/
(unfinanced capital outlay) 58 (89,117)
Total 59 385,173
SCHEDULE 12 Port Burwell
STATISTICAL DATA
For the year ending Dec 31, 1994
1. Number of continuous full time employees as at Dec 31 1
Administration 1 3
Non-line Departmental Support Staff 2 1
Fire 3
Police 4
Transit 5
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 6
continuous full
time employees
December 31 Other
1 2
2. Total expenditures during the year on: $ $
Wages and salaries 14 153,274 27,866
Employee benefits 15 12,173 1,797
3. Reductions of tax roll during the year 1
(lower tier municipalities only) $
Cash collections: Current year's tax 16 474,174
Previous years' tax 17 40,623
Penalties and interest 18
Subtotal 19 514,797
Discounts allowed 20
Tax adjustments under section 362 and 263 of the
--amounts added to the roll (negative) 22
--amounts written off 23
Tax adjustments under sections 465,495 and 496 of the Municipal Act
--recoverable from upper tier and school boards 24
--recoverable from general municipal revenues 25
Transfers to tax sale and tax registration accounts 26
The Municipal Elderly Residents' Assistance Act
--reductions 27
--refunds 28
Other (specify) 80
Total reductions 29 514,797
Amounts added to the tax roll for collection
purposes only 30
Business taxes written off under subsection 495(1) of the Municipal Act 81
4. Tax due dates for 1994 1
Interim billings: Number of installments 31 2
Due date of first installment (MMDDYY) 32 33194
Due date of last installment (MMDDYY) 33 52794
Final billings: Number of installments 34 2
Due date of first installment (MMDDYY) 35 83194
Due date of last installment (MMDDYY) 36 112594
Supplementary taxes levied with a 1995 due date 37$ 0
long term financing requirements
approved by submitted but forecast not
5. Projected capital expenditures and long term gross the OMB not yet app'vd yet submitted
financing requirements as at December 31 expenditure or council by OMB/council to OMB/council
1 2 3 4
Estimated to take place $ $ $ $
In 1995 58 274,500 149,834
In 1996 59 300,000 200,000
In 1997 60
In 1998 61
In 1999 62
Total 63 574,500 0 0 349,834
balance loans
in fund outstanding
1 2
$ $
6. Ontario Home Renewal Plan trust fund at year end 82 45,152 40,412
SCHEDULE 12 Port Burwell
STATISTICAL DATA
For the year ending Dec 31, 1994
7. Analysis of direct water and sewer billings as water
at December 31
number of 1994 billings
residential residential all other computer
units units properties use only
1 2 3
$ $
In this municipality 39 459 85,324 3,757
In other municipalities (specify municipality)
Bayham 40 7 3,742
41
42
43
64
sewer
number of 1994 billings
residential residential all other computer
units units properties use only
1 2 3
$ $
In this municipality 44 425 120,510 6,072
In other municipalities (specify municipality)
45
46
47
48
65
water sewer
Number of residential units in this municipality
receiving municipal water and sewer services but 1 2
which are not on direct billing 66
8. Selected investments of own sinking funds other
as at December 31 own municipalities,
municipality school boards Province Federal
1 2 3 4
$ $ $ $
Own sinking funds 83
9. Borrowing from own reserve funds 1
Loans or advances due to reserve funds as $
at December 31 84
10. Joint boards consolidated by this municipality this municipal-
contributions ity's share of
total board from this total municipal computer
expenditure municipality contributions use only
1 2 3
$ $
53
•
54
55
•
56
57
SCHEDULE 12 Port Burwell
STATISTICAL DATA
For the year ending Dec 31, 1994
Port Burwell
11. Applications to the Ontario Municipal tile drainage
Board or Council shoreline assist-
ance, downtown
revitalization, other other
electricity submitted submitted
gas, telephone to OMB to council total
1 2 4 3
$ $ $ $
Approved but not financed as at Dec. 31, 1993 67 0
Approved in 1994 68j(L; 7r5C 0
Financed in 1994 69r 0
No long term financing necessary 70 �jlln- 0
Balance approved but not financed as at
Dec. 31, 1994 71 0
Applications submitted but not approved
as at Dec. 31, 1994 72 0
12. Forecast of total revenue fund expenditures 1995 1996 1997 1998 1999
1 2 3 4 5
$ $ $ $ $
73
Redfern, More L Co.
CJ CHARTERED ACCOUNTANTS
PARTNFRS
J.A.Di GIOVANNI,B.Comm.,C.A.
R.E.BARTH,B.Sc.,C.A.
MANAGER
B.D.GREEN,B.A.,C.A.
R.ALLEN,B.A.,C.G.A.
B.M.BUDARICK,B.Comm.,C.A.
AUDITOR'S REPORT
To the Ministry of Municipal Affairs
We have audited the grant information schedule 13 of the Financial Information Return of the
Corporation of the Village of Port Burwell for the year ended December 31, 1994. This schedule is
the responsibility of the Village's management. Our responsibility is to express an opinion on this
schedule 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 this schedule is free
of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures on this schedule. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall schedule presentation.
In our opinion, this schedule presents fairly, the grant information shown therein in accordance with
instructions issued by the Ministry of Municipal Affairs for the year 1994.
Tillsonburg, Ontario 't / LM40jLb LOLv.
May 29, 1995 Redfern, More & Co.
License Number 15898 CHARTERED ACCOUNTANTS
22 HARVEY STREET,P.O.BOX 247,TILLSONBURG,ONTARIO N4G 4H5
Tel:(519)842-3604 Fax:(519)842-2178
SCHEDULE 13 Port Burwell
GRANT INFORMATION
For the year ending Dec 31, 1994
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 89,081
Sewer surcharge on direct water billings -
own municipality 4 126,582
Payments in lieu of taxes
Subtotal 18 4,810 8,614
ANALYSIS OF TAXATION 2LT
LOCAL TAXABLE ASSESSMENT
residential commercial
and farm and industrial business
1 2 3
I. Own purposes $ $ $
(a) Levied by mill rate
General 30 1,058,016 98,207 34,165
police villages at reduced rates 31
farms at reduced rates 32 xxxxxxxxxxxxxxxxxxxxxxxxxxxx
TAXES LEVIED
commercial
and industrial business total
7 8 12
$ $ $
Subtotal levied by mill rate 1 18,967 6,395 xxxxxxxxxxxxxx
Share of telephone and telegraph taxation 2 xxxxxxxxxxxxxxxxxxxxxxxxxxxxx 5,474
Total own purposes taxation 4 xxxxxxxxxxxxxxxxxxxxxxxxxxxxx 201,999
II. Upper tier purposes
Subtotal levied by mill rate 5 7,351 2,754 xxxxxxxxxxxxxx
Share of telephone and telegraph taxation 6 xxxxxxxxxxxxxxxxxxxxxxxxxxxxx 2,190
Total own purposes taxation 8 xxxxxxxxxxxxxxxxxxxxxxxxxxxxx 86,247
ANALYSIS OF CAPITAL OPERATIONS 5
1
$
Other financing
Prepaid special charges 24
SCHEDULE 15 Port Burwell
ONTARIO FINANCING OF CAPITAL
LOAN REPAYMENTS
For the year ending Dec 31, 1994
principal interest
1 2
$ $
General government 1
Protection to persons and property
Fire 2
Police 3
Conservation authority 4
Protective inspection and control 5
6
Subtotal 7 0 0
Transportation services
Roadways 8
Winter control 9
Transit 10
Parking 11
Street lighting 12
Air transportation 13
14
Subtotal 15 0 0
Environmental services
Sanitary sewer system 16
Storm sewer system 17
Waterworks system 18
Garbage collection 19
Garbage disposal 20
Pollution control 21
22
Subtotal 23 0 0
Health services
Public health services 24
Public health inspection and control 25
Hospitals 26
Ambulance services 27
Cemeteries 28
29
Subtotal 30 0 0
Social and family services
General assistance 31
Assistance to aged persons 32
Assistance to children 33
Day nurseries 34
35
Subtotal 36 0 0
Recreation and cultural services
Parks and recreation 37
Libraries 38
Other cultural 39
Subtotal 40 0 0
Planning and development
Planning and zoning 41
Commercial and industrial 42
Residential development 43
Agricultural and reforestation 44
Tile drainage/shoreline assistance 45
46
Subtotal 47 0 0
Electricity 48
Gas 49
Telephone 50
Total 51 0 0
_REDFERN_MORE_&_CO . TEL No . 519 842 2178 Sep 05 , 95 4 : 18 P .02/05
SEF S3195 146:54 FR MMR LUNUUN '519 661 lbrr IU ul :21u4eei (u
MINISTRY OF MUNICIPAL AFFAIRS
U \ LL P6 E of Po(2,-r vjz.w 6 L`
(Name of Municipality)
ANNUAL AUDIT QUESTIONNAIRE
FOR THE YEAR ENDED DECEMBER 31, 1923.1
To be Completed by the.municipal auditor and
submitted directly to the appropriate regional
office by April 30th pursuant to the provisions of
Section 82 of the Municipal Act, Chapter 45 and
Part II, Section 3 of the Municipal Affairs Act,
Chapter 46 of the Revised Statues of Ontario, 1990.
(Applies to the municipality
and all audited local boards)
To BE COjrI LETED RY THE MUNICIPAL AUDTIQH
1. of the total hours charged for the year under review,
approximately how much time was spent in each of the
following areas:
Approximate
Percentage of
Tire charq&
(a) Bookkeeping and accounting services 10 %
• (b). Budgeting and financial planning
(c) Preparation of Financial Return
and Financial Information Return 14
(d) Auditing 80
(a) Other
Total for year review 100%
REDFERN_MORE_&_C0 . TEL No . 519 842 2178 Sep 05 , 95 4 : 18 P .03/05
SEP e1 ' S5 10 ;55 FR MMM LONDON 519 661 1677 10 d151tt4CGi rtJ r. vase:
— 2 -
Circle
Yea pr No
2 . During the course .of your audit, were
there any matters that you identified
that you have reported to or intend to
report to your client, either in No
writing or verbally? 0/5
If Yes, please state what they are.
PL E NSN tZ6��.e T4 Twp Iv A-9 ‘N.,
-r-r = L . V F-• w - • E _ .
Circle
y,2 or No
'3 . Did you submit a management letter
for the year prior to the year
under review. Yes No
4 . (Not applicable if answer to
Question #3 is No) Nvi: A-or
Did you discuss this management
letter with?
(a) the Council, No
(b) the Treasurer Yes , No
(c) Other Yes No
(Please specify)
Have all matters bean resolved to your
satisfaction? Yee NO
Wig, please comment
p'- t:Ls
h ArN A-a v_1-S ti rJ'r 1, Ttql
,REDFERN_MORE_&_C0 . TEL No . 514 842 2178 Sep 05 , 95 4 : 18 P .04/05
SEP 01 ' 95 10 : 55 FR MMA LONDON 519 661 1677 TO 815198422178 P.04/05
- 3 -
circle
yea or No
5. (a) Does your firm have the audit
responsibility for any joint
local board where this
municipality is a
participating member? Yes No •
If Yeses_ (i) show name of joint
local board(a)
•
(ii) show name of municipality
with which local board's
financial Statement was
consolidated
(iii) ason ir financial
show
ent not consolidated
•
(b) Did you send copies of the audited
statements to the councils of all
participating 'munioipalitiea and
to the province regardless of
whether the statement was
. consolidated or not?
Yes No
6 (a) Was fidelity bond coverage taken
out
as required by section 94 of the
Municipal Act? C-Ye )
No
If Yes, Type of Bond
Amount this Year $_2!",e21010,1-0
last Year $ 20 o aoJ� 1?
(b) was the fidelity bond produced to
council as required by
Section 94 (3)? Yes No
,REDFERN_MORE_&_C0 . TEL No . 519 842 2178 Sep 05 , 95 4 : 19 P . 05/05
SEP 01 ' iib 10 : 56 FR NIMH LONDON 519 661 1677 10 615198422178 P . 05/85
— 4 _
7 . Did you review this questionnaire with No
the Treasurer?
R�DF�. - . tao� co ( p oP( Nti ?7,A `Sh,or.,D,
LICENCE NO. t 5 Bg
Signature of Firm 4/Z/ ¢ O,
. - -
Name of Partner in Charge t ‘ Po"'
esoRedfern, More & C .
CHARTERED ACCOUNTANTS
PARTNERS
J.A.Di GIOVANNI,B.Comm.,C.A.
R.E.BARTH,B.Sc.,C.A.
B.D.GREEN,B.A.,C.A. MANAGER
B.M.BUDARICK,B.Comm.,C.A. R.ALLEN,B.A.,C.G.A.
May 29, 1995
The Village of Port Burwell P.O. Box 10 0185111\1121 Pitt Street
Port Burwell, Ontario
NOJ 1 TO
Attention: Reeve Tom Nesbitt, Members of Council
and Administrator/Clerk-Treasurer
Dear Sirs/Madam:
We have completed our audit of the Village of Port Burwell for the year ended December 31, 1994.
It is apparent that the Village has been working hard at improving its operations over the past year.
This is a result of Council and management initiative and the hiring of staff having strong accounting
and computer skills.
We have made observations and recommendations based on this year's audit to help safeguard the
Village's assets, maintain reliable, efficient accounting records, assist in operations and adhere to
Ministry of Municipal Affairs requirements.
1. Tax Revenue, Receivable, Receipts
During the first eight months of the year, interest and penalties on outstanding taxes were calculated
incorrectly and tax account reconciliations were not completed on a timely basis. These problems were
apparently the result of changes made to the tax software package and staff's inexperience with
completing reconciliations using the New Views software package and not knowing specific
requirements of municipal accounting concerning interest and penalty calculations. Mistakes were
corrected by year end and tax account reconciliations are now completed in a timely manner.
We recommend, in the event of key staff turnover, that proper and prompt training be given concerning
the operations of the New Views software program and specific requirements of municipal accounting.
One inefficiency of your software package is that it does not provide the details necessary to complete
the Municipality's Financial Information Return. Certain tax accounts must be broken down manually
by your staff prior to completing the return.
22 HARVEY STREET,P.O.BOX 247,TILLSONBURG,ONTARIO N4G 4H5
Tel:(519)842-3604 Fax:(519)842-2178
Village of Port Burwell ../2
g 1\11‘s
V
2. Purchases/Payables/Payments System
By the end of the year, internal controls in the Purchases/Payables/Payments System appeared to be
adequate. Presently, purchases are approved by the department head, Council approves the accounts
payable listing and the related supplier invoices, cheques are prepared and signed by the Treasurer, a
cheque summary is generated which agrees to the approved accounts payable listing and a council
member then signs the cheques and signs off the cheque summary to indicate all invoices approved for
payment were actually paid.
3. Water and Sewer Billing System
The Kime, Mills Dunlop report recommended that water readings input into the computer be checked
by another staff member to prevent billing errors. As well, the report recommended permanent records
be prepared for all properties. Both recommendations are now being followed.
4. User Charges
As mentioned in prior reports, Wharfinger Lease/Dockage Fees and Beer Tent/Tub Daze Fair revenue
lacked adequate internal controls to safeguard assets. It is our understanding that significant changes
are being made in 1995 to the operations of all the above to better control these functions.
Since 1991, Nevada funds have been included in the Village's financial statements. In order to adhere
to the Gaming Control Commission guidelines, all current and prior year Nevada revenues and expenses
have been removed from the 1994 financial statements.
5. New Views Software Package
The Kime, Mills Dunlop report mentions that the New Views system is workable but not ideal for a
municipality. The Village should continue to monitor the benefits of keeping the New Views software
verses the cost of purchasing a new municipal software program and the associated expenditures on
hardware, maintenance and training involved in switching software programs.
It is our understanding that switching to a municipal software program would be costly. In
consideration of limited funds of the Village at this time, this type of purchase may be best postponed
until a later date.
Currently, your New Views system does not produce a trial balance which is a report produced by most
accounting packages. A trial balance provides a good overview of account balances and assists in day
to day account analysis. Furthermore, a trial balance would assist audit procedures.
11
Village of Port Burwell �o
g .../3
We recommend that if the Village decides not to change its software program, it obtain software or
customize the current software program to enable the system to print a trial balance report.
6. Long-term Liabilities
The 1994 financial statements reflect $162,788 of net long-term liabilities. The Village increased its
debt load by a further $73,134 in January to finance part of the unfinanced capital outlay outstanding
at December 31, 1994. Long-term financing is a valuable tool in helping a municipality fund large
important projects that are too costly to fund with current revenues. However, future principle and
interest payments on long-term debt must be paid from current operations. In 1995, estimated principle
and interest payments will amount to about $69,000. It is your responsibility to ensure the debt you
take on today does not financially strap future operations. To assist in long-term cash flow planning,
the municipality should have a capital financing policy that establishes yearly debt limitations, the type
of projects that are to be funded using long-term debt, the amount of ongoing maintenance and capital
purchases that should be paid using current revenues etc.
We recommend the Village develop a capital financing policy to guide capital operations and to help
prevent obtaining an unmanageable debt load.
7. Development Charges
In 1994 there were no development charges received. Furthermore, there is no reserve fund built up
from prior year development charges.
We recommend the Village review this area to establish firm policies on development charges and to
ensure funds received are allocated directly to a reserve fund. Per discussions with Mr. Free, it is our
understanding that this recommendation has already been implemented in 1995.
8. Ontario Home Ownership Program (OHRP).
The municipality is responsible for the administration of OHRP in the Village. After review of the
OHRP files, it appears that this area has been poorly administered in the past. Seven outstanding loans
are currently on file and only one payment was received in 1994. Many accounts have not made
payments for a few years. Poor past administration of these accounts now makes collectability of
outstanding loans questionable.
We recommend the Village take action to clean up its OHRP accounts and ensure outstanding accounts
are monitored on an ongoing basis.
fik
Village of Port Burwell 1),‘;‘,-
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A. V
9. Accounting for Prior Auditors' Lawsuit
As discussed in the notes to the financial statements, the deficit of the Village at the end of 1994 does
not include any provision for the lawsuit you are involved in with your prior Auditors. A more
conservative approach would have been to set up a payable or specific reserve in 1994 to cover
anticipated legal fees. Recording some of the expense in 1994 better matches the costs to the period
the claim took place. Any court related payments will now harm the financial performance of future
years that had nothing to do with the lawsuit.
We recommend, if problems such as the one described above arise again, a more conservative
accounting approach be taken in which a reasonable reserve is set up in the year the problem arises.
This reserve should cover potential settlement cost and related professional fees.
10. Ontario Clean Water Agency (OCWA)
The Village is currently in dispute with OCWA concerning 1994 sewer precepts. We understand that
you have forwarded documentation to OCWA and had meetings and telephone conversations trying to
resolve this issue, however, little progress has been made. We believe it is important to get this dispute
resolved soon and in a mutually amicable manner. Not finalizing a settlement with OCWA makes it
difficult to establish, and then meet next year's budget. As well, OCWA provides an essential service
to the Village and it is important to maintain good working relationships with a supplier of this nature.
We would like you to consider the benefits of implementing the recommendations and welcome the
opportunity to discuss them further with you.
Please note that this letter does not necessarily disclose all weaknesses and inefficiencies in your system
of internal control. The primary objective of an audit is to express an opinion on the financial
statements. To meet this objective, we review your system of internal control to establish the extent
to which we can reply on the system in designing our audit procedures. However, this review cannot
be expected to disclose all matters which a special review of the internal control of your Village might
identify.
Thank you and your staff for the cooperation and assistance received during this audit.
Yours very truly,
REDFERN, MORE & CO.,
47.‘ —761/
Brian Budarick, C.A.
'•Off1°RTgVg THE CORPORATION OF THE
, *. . ,_. VILLAGE OF PORT BURWELL
P. O. Box 10, Port Burwell, Ontario NO) ITO
telephone (519) 874-4343 • fax (519) 874-4948
'-itsillwir4251:111111);
PORTUS REFUG‘OM
COPY
May 23, 1995 • ",:
REDFERN, MORE & CO.
22 Harvey Street
P.O. Box 247
Tillsonburg, Ontario
N4G 4H5
Gentlemen:
In connection with your examination of the Consolidated Financial Statement of The Corporation of the
Village of Port Burwell for the year ended December 31, 1994, we represent, to the best of our
knowledge and belief, the following:
A. Financial statements and financial records
1. As members of management of the Village, we understand that the
purpose of your examination of our financial statements is to express an
opinion thereon and that part of your examination involves selectiv9iesting
of account balances and transactions which have been limited to those
which you considered necessary in the circumstances. We also understand
that the prevention and detection of error and fraud are primarily our
responsibility and maziy not necessarily be detected by you even if they
are material in amount.
2. As members of management of the Village, we are responsible for the
preparation of the financial statements in accordance with generally
accepted accounting principles applied on a basis consistent with that of
the preceding year.
3. The significant accounting policies adopted in the preparation of the
financial statements are fully and fairly described in the financial
statements.
4. We have made available to you all financial records and related data.
5. There were no material transactions during the year that have not been
properly reflected in the accounts.
6. As members of the Village, we believe that the Village has a system of
internal control adequate to permit the preparation of accurate financial
statements in accordance with generally accepted accounting principles.
../2
Redfern, More & Co. - 2 - May 23, 1995
B. Investments
1. All investments which are owned by the Village are recorded in the
accounts.
2. The Village has good title to all investments recorded in the accounts and
these securities are free from hypothecation.
3. Investments are valued at lower of cost and market determined on the
aggregate basis.
4. Appropriate loss provisions have been provided in the accounts, when the
investments have declined by a significant amount below their previous
carrying value.
5. All income earned for the year on these securities has been recorded in the
accounts.
C. Accounts and Taxes receivable
1. Accounts and taxes receivable are correctly described in the accounts and
represent valid claims as at the year end, against the debtors indicated.
2. All services and taxes rendered prior to the year end have been recorded
as revenue of that year.
3. The accounts and taxes receivable are free from hypothecation or
assignment.
4. Adequate allowance has been made for any losses from uncollectible
accounts, costs or expenses which may be incurred with respect to
services rendered prior to the year end.
D. Liabilities
1. All liabilities incurred by the Village at the year end have been recorded
in the accounts or disclosed to you (including such items as, purchases,
salaries, wages and commissions, employee benefits (including pension
costs), professional services, etc, and long-term debt and lease
obligations).
2. At the year end there were no contingent liabilities (a contingent liability
is an obligation that may arise depending on the resolution of a
continency, e.g. matters in dispute and all claims which are outstanding
and possible claims have been disclosed to you, whether or not such
claims have been discussed with our lawyers) exept those described in the
notes to the financial statement.
Redfern, More & Co. - 3 - May 23, 1995
3. At the year end, the Village had no unusual commitments or contractual
obligations of any sort which were not in the ordinary course of business
and which might have an adverse effect upon the Village (e.g. contracts
or purchase agreements above market price; repurchase or other
agreements not in the ordinary course of business; material commitments
for the purchase of capital assets; significant foreign exchange
commitments; open balances on letters or credit; purchase commitments
for inventory quantities in excess of normal requirements or at prices in
excess of the prevailing market prices; losses from fulfilment of, or
inability to fulfil, sales commitments, etc.).
E. Pension cost, assets and obligations
1. All pension plans (as defined in the CICA Handbook Section 3460) of the
company and the provisions of each plan have been fully disclosed to you.
2. There was no unfunded pension liability as at the year end.
F. Consolidated accounts and equity-accounted investments
1. All significant interorganization transactions have been disclosed to you
and properly eliminated in the consolidated financial statements.
G. General
1. The minute books presented to you contain complete and authentic
minutes of all Council and Board meetings held throughout the year to the
most recent meeting.
2. No irregularities or shortages have occurred and nothing has come to light
which might reflect upon the honesty or integrity of any employee, agent
or officer of the Village.
3. We have disclosed to you, and the Village has compiled with, all aspects
of contractual agreements that would have a material effect to the financial
statements in the event of non-compliance including all covenants,
conditions or other requirements of all outstanding debt.
4. There have been no communications from regulatory agencies concerning
non-compliance with laws or regulations which could have a material
effect on the financial statements.
5. Our present plans and intentions are appropriately reflected by the
carrying value and classification of the Village's assets and liabilities.
../4
Redfern, More & Co. - 4 - May 23, 1995
L. Events subsequent to the year end
No events have occurred as of the date of this letter which are of such significance as to
require adjustment to or disclosure in the financial statements.
David Free
Date
Suzanna Mantell
���F PORT,,_
PTHE CORPORATION OF THE
S♦S VILLAGE OF PORT BURWELL
P. O. Box 10, Port Burwell, Ontario NOJ ITO
C telephone (519) 874-4343 • fax (519) 874-4948
PORTUS REFUGIUM
MEMO
Date: December 16, 1994
To: Council
From: David Free
Re: Statement of Council Remuneration & Expenses
Council
Subject to Section 247 of the Municipal Act, c.M45 R.S.O. 1990 as amended, I hereby provide to
council an itemized statement of each members' remuneration and expenses for your review.
Remuneration Expenses Total
Tom Nesbitt, Reeve $ 3,570.00 $ 106.81 $3,676.81
Ed Epple, Councillor $ 2,423.25 $2,423.25
Gord Loucks, Councillor $ 2,716.75 $2,716.75
Cindy ARM, Councillor $ 3,047.00 $3,047.00
Jim Hevenor, Councillor $2,973.50 $ 191.97 $3,165.47
Remuneration and expenses were paid under the authority of By-Law 92-06 and Sections 242 and
243 of the Municipal Act, c.M45 R.S.O. 1990 as amended.
•O'-ree
David R. Free, CET, AMCT(A) • Administrator/Clerk-Treasurer