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(All dollar amounts are in thousands of dollars except per capita figures.) 1. . Population at the end of the year 2. Area in acres at the end of the year 3. â€" Employees â€"continuous full time 4. _ Assessment Taxable assessment upon which the year‘s rates of taxation were set Residential and farm Commercial and industrial 13. 14. 12. Current assets 10. 11. Cash Accounts receivable Taxes receivable Other current assets LIABILITIES Current liabilities Net long term liabilities Reserves and reserve funds Accumulated net revenue (deficit) and unapplied capital receipts Capital outlay to be recovered in future years Other long term assets Temporary loans â€" Accounts payable and accrued liabilities Other current liabilities Accumulated net revenue (deficit) at the end of the year Reserves Capital expenditure in the year Net long term liabilities General municipal activities Per capita Percentage of taxable assessment Municipal enterprises Charges for net long term liabilities General municipal activities Per capita As a mill rate Contributions from the revenue fund for capital expenditure Per Capita Commercial and industrial as a percentage of taxable assessment Exempt assessment Provincial equalization factor Rates of Taxation Residential and farm mill rate Commercial and industrial mill rate Revenue Taxation â€" realty * â€" business â€" special charges Expenditure General municipal Region or county Education Contributions from other governments Other revenue Tax arrearsâ€"per capita â€" percentage of _ _ current levy CONSOLIDATED BALANCE SHEET ~ $ 121,561 $ 112,.171 $105,344 $ $ 77,243 $ 69,936 $ 66,105 $ 44,318 . 42,235 39,239 36% _ _ 38% 37% $ 42,068 $ 41,069 $ 38.167 $ â€" 26 27 27 $ 12,186 2,177 1,479 $ 15,.842 $ 10,053 1,682 451 1975 48,468 16,500 J03 $2,508 $2,474 $2,508 15,689 3413 $ 70 $ 2.8% 1,530 $ 6,722 3,242 5.725 117 $ 3,711 $ 748 15 244 87 $ 9,811 â€" _ 2,007 1,164 $ 12,.982 $ 7,982 1,362 8,184,998 9.963,033 2,647,668 8,184,998 5,533,034 7,478,922 4,296 2,103 _302,709 1,330.946 TEN YEAR FINANCIAL REVIEW 4,779,016 1,060,981 1,646,456 1,346,839 1,646,456 1974 45,349 .16,500 698,545 13,077 5,381 119 0,913 2,499 4,665 1,465 111 $ 3,769 $ 124 23 10 75 87 9,963,033 234,102 687,703 234,412 1,325,791 6,691,809 1,379,112 $ 12014 1,346.839 $ 7,230 1,493 $ â€"9,205 545,273 41,998 16,500 185 $ 262 11,745 1973 5,726 4,794 2,523 4 428 1,012 24 10 5.4% 1,628 126 $ 2,785 $ 75 85 $ â€" 8.374 $ 10,013 $ â€"6,306 $ â€"6,455 1,135 784 $2,548 35,880 $ 27 1972 38,817 59,244 39,671 98,915 3.480 9,015 232 9.1% 1,887 9,786 1,336 372 103 2,952 225 Unfinanced capital outlay (Unexpended capital Tinancing) at the beginning of the year Capital expenditure Unfinanced capital outlay (Unexpended capital financing) at the end of the year General government . Protection to persons and property ‘Transportation services Environmental services Health services * Social and family services Recreation and cultural services Planning and development Other . Total expenditure Capital financing Total capital financing 241 72 14 Contributions from the revenue fund Contributions from reserve funds and reserves Long term liabilities incurred _ _ Ontario grants Other ' $ 7,912 1,449 619 $ 9.980 $ â€"6.041 1,124 747 $2,575 93,524 57,069 36,455 35,880 $ 26 36,313 7,330 215 paw t Nn "o l io. t d ioae. 1 ie s d n o t > y e Ets * it SSexi «@‘»’.‘ Arags s "ol ,"Ffifi n o+ s us ge on on ts y3 ‘ «+ #54 w ips, 1. ts ut ing « § i ks 4 wland ** 4>~ Y4 h o# 6 % F4 id nPiiiihicss * t eapina) S S e & w . tâ€"ft 1& 5 m. M 4 f e “ _ k woet us Â¥ "q «> _ « A § 4 ® a 'V‘ . : ® kn 6 L & e ~ s# 1971 8,494 9,962 9.1% 2,063 4,026 5,936 $ 1,320 2,069 $ 253 Coum! xos 5 h The . | nds S s 20 0 t oi ioh otmne inss ces (P custne * AARENAI * ie ced 2 en o ol it Cge * 4 4 y +d tR R n 5 Â¥+ Sikg *A : ;‘.-‘ t si i ie s ie n wb paia ied tr us‘ _2 % : q A 4 s sÂ¥ e & 38 h L +A t * ; j € , o F B stt "ap hi 3 L 0P = 4 F f * " s & { $% 5 En A sn *A a " ? s : | ‘ > WAE . ~~â€" < C . y y â€"â€" T f E. ®, d < is * l w ? ,; M * » & Â¥ ol i 248 L & L. e "one Ahgi en t it «3 * 3 ""up .. #A « s â€" Crm R .. stt ols l Te s th ol o seng â€" : e e P 4 Sicefas". ue > $ e i Ne n 2ec s . ~ ~ % ® f $ wH â€" f o l | flms | > > f ; M â€" . We o . C t . F i L 5 r 2 al c %C k ces‘ _ ie * e Year , Receomber 31, 1975 h Cagh t b rapg :s ihey h S e l M * # . * 145 $ 79 87 14 OF â€"CAPITAL FUND OrErations > $ 5,516 $ â€"7,150 1,182 $ 8872 87,264 $ $2,519 54,438 $. 32,826 29,403 $ 34,641 33,349 7,330 7,330 1970 8,967 8,918 259 10.3% 2,229 5,220 3.698 1,303 127 $ 107 $ 2,234 $ 77 85 15 $ ?.049 $ â€"5,613 1,053 $2,458 49,555 32,201 81,756 26,400 $ 25,026 $ 19,218 $ 13,984 29 29 _ 29 34 4,545 $ 8,336 7,915 2,978 3.791 1,057 32 13 73 107 3,746 215 457 172 81 With comparative figures for the yesr enided December 31, 1974 $ â€"4,428 $ 6,661 $ 5.774 $2,364 $2,320 45,953 $ 43,425 31,162 29,481 32,625 7,330 77,115 $ 72,906 6,744 207 3,838 $ 6,640 $ 2,500 2 .802 21 $ 99 $ 2,570 $ 743 270 311 26 11 69 77 ts tnt a oi qoi es . se . 1e NC c # + o ’; ;:_" "\.‘ fi i " k # @ 4.: 35 s3 * 4 Ff,’! # 9 :: ¢ e i gh c atle i & #3 tR % E .~% 63 69 $. 4,120 767 167 1967 31,422 5,327 170 2,416 5,783 3,409 2. 374 ~ _ 133.879 792 187 155 1,827,357 1,999,776 1,225,908 515,681 11 3.710,507 3,769,333 3,753,602 3.172.177 243,601 123,822 1,974,903 1,806,0097 590,018 633.113 354,043 ,113 $ 39,650 27,114 $ 67,364 $ 4.274 227 _ 5% $ â€"3,036 $ 3,426 652 $2,253 29,894, 7,330 175 4,553 152 2,224 4 941 5 343 41% 1974 * _ % ! / o Aetual .. ~ : ) néet revense (deficit) at 371,124 7M.118 137 23 10 57 63 : ~. School board purposes . Accumulated net revenue (deficit) at ~ the end of the year Analysed as follows: General revenue Special charges Special areas : Tetal revenue Region or county purposes Taxation Payments in lieu of taxes Ontario grants We have examined the 1975 financial statements of The Corporation of the City of Waterioo as listed in the attached Index. Our examination included a general review of the accounting procedures and such tests of accounting. records and other supâ€" porting evidence as we considered necessary in the circumstances. ‘ To the Members of Council, Inhabitants and Rateâ€" payers of The Corporation of the City of Waterloo: porting evidence as we considered necessary in 7. LIABILITIES PAYABLE IN FOREIGN CURRENCIES e the circumstances. ~ Included in ‘‘Net longâ€"term liabilities® is an amount of $823,375 payable in U.S. dollars and recordâ€" [ . . . ed on the basis of $1 Canadian being equal to $1 U.S. If the liability was converted into Canadian In our opinion these financial statements present dollars at the exchange rate prevailing at December 31, the liability would be increased by approxiâ€" fairly the finagcial position of The Corporation of 8 'L':"’A“:"’::’T':o:'oa VESTED SICK LEAVE BENEFITS the City of Wa}erloo as ?t December 31, 1975 and _ Under the sick leave benefit plan, unused sick leave can accumulate and employees may become the results of its operations for the year then endâ€" entitled to a cash payment when they leave tti;e municipality‘s employment. ' R j , InC} _ The liability for these accumulated days, to the extent that they have vested and could be taken ed, in accordance with gccounpqg p.n.ncnples gener in cash by an employee on terminating, amounted to approximately $420,600 at the end of the year. ally apcepted for Ontario municipalities applied on An amount of $140,473 has been provided in respect of this past service liability and reflected on the a basis consistent with that of the preceding year. _ balance sheet. 9. LEASE COMlMITMENT tcd j s af Ha ito Our reports with r â€" The municipality is committed to annual rentals o 100 from 1976 to 1977 inclusive, and subâ€" Mmissions pand enter er.sspeCt tz the Ioca'] b(t))? rds. com sequent annual rentals of $46,200 under a lease expiring December 31, 1982. , prises where applicable, are att . ;6 compaARATIVE FIGURES tached to the relevant statements. For comnarative burpnoses certain 1974 figures have been restated ton conform with 1975 ctatamanai April 30, 1976 Social and family services 3,200 3,200 Recreation and cultural services 1,375,291 1,448,338 Planning and devwelopment R 348,.900 ~307.271 Region or tountypurposes . â€" School board purposes Total expenditure Taxation Payments in lieu of taxes Payments in lieu of taxes Ontario grants_ Other grants * Region or county School boards Local boards AUVDITORS‘ REPORT C hb o~â€"~ s ya Yoy Yo) 10. COMPARATIVE FIGURES nts. For comparative purposes, certain 1974 figures have been restated to conform with 1975 statement presentation . Clarkson, Gordon & Co. 11. ANTIâ€"INFLATION PROGRAM ' Effective October 14, 1975, the Federal Government passed the Antiâ€"Inflation Act and subsequentl Charte'eq Acco_untants- issued regulations which are presently scheduled to be in force until December 31. 1978. Pursuan’t' License number 170. to an agreement between the Province of Ontario and the Federal CGovernmeant tha MimiaiaLi:cal. 15,131,957 15,841,755 12,981,654 6,7720M41° 6,721.812 4,038,134 6,680,480 2,413,800 _ 2,427,489 331,544 331,544 1,087,132 1,438,430 2,745,344 3,241,953 1,116,920 5,677,102 5,695,698 29,031 29,032 5,706,133 â€" 5.724,730 Nil 698,545 _ 545,273 Nil 59,608 _ 66,168 4,062,746 â€"â€"â€" 579,371 15,688,483 6,875,072 1,040,983 1,436,816 1,610,154 5,1724,727 1.478.097 (5,751) 109,255 i+ _ 1. ACCOUNTING POLICIES . | â€" _mmmkipmyudfimmmfingpflmmmmpm,uommedhneum- _ mmmpmwmmmurm,&m“mmmemw {E : Affairs. The following is a summary of significant accounting policies followed in the preparation 1975 1w74 _ ‘o:tlu.e'lznnchl statements: ° ‘“.'" | “‘.‘" .‘l'hréouolidaud balg.oe sheet reflects the enmhined accate and lahilitine af tha rmowmamia EdA 5,015 it sc mb mmudhhnoeshee(mfbcufilemmunedaseuudfiafimiuoflhemqnufmd. $ capital fund,â€".reserve funds and the Waterloo Library Board. Trust fund assets administered by .. $A0,.170 the municipality, amounting to $174,576 ($156.273 in 1974)have not been consolidated, nor have : the assets and liabilities of Municipal Enterprises. > (b). Inventories â€" . â€". 521,323 Inventories of supplies are included in other current assets and are valued at cost on a firstâ€"in, 1,186,675 firstâ€"out basis, . + ~ 2,055,403 (c) Fixed assets â€" â€" . 674,291 No value is attached to fixed assets for municipal reporting purposes. Expenditures on fixed asâ€" . 58546 sets are charged against current funds unless the expenditures are financed out of longâ€"term “l,"‘g debt. Debt retirement costs are charged against current revenues in the periods in which they » ~ are 20 a . mmsâ€" (4) (n:shrletl.gmlhfllties- ammmaprmmmam Charges for net longâ€"term liabilities include principal and interest. Interest charges are not acâ€" 5,912,556 ° ~ auedbrfl!eperhdsfmmthedatesoflhehuinterenmymtsmthealdoflhgfiscalye.r. 498,673 e benefits â€" f â€" Cn the . _ The mgrpainty provides tor sick leave benefits arising under the sick leave benefit plan by a T e stt yearly charge to expenditure. A partial liability for these benefits is reflected as a reserve fund cmmmmemmnntamees. in these financial‘statements. (f) Reserve funds â€" 3.448.993 The municipality has created reserve funds where required by statute or byâ€"law of council to set iPive aside revenues for sgmc projects. Assets have been set aside also for certain of these funds. 16607 2.CHARGES FOR NET LONGâ€"TERM LIABILITIES _ . 1,165,717 __ ‘Total charges for the year for net longâ€"term liabilities were as follows : o aad 2as Principal â€" $600.125 521,323 1,186,675 2,055,403 674,291 Effective October 14, 1975, the Federal Government passed the Antiâ€"Inflation Act and subsequently issued regulations which are presently scheduled to be in force until December 31, 1978. Pursuant to an agreement between the Province of Ontario and the Federal Government the Municipality is subject to mandatory compliance with controls on employee compensation. NOTES TO FINANCIAL STATEMENTS June 2, 1976 â€" Page 15 $600,125 387 .99 $2,456,200