The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

FETTER TONEY PaaS Te Fe Te...» PORT PERRY STAR -- Wednesday, August 9, 1989 -- 33 The Corporation of the Township of Scugog 1988 FINANCIAL HIGHLIGHTS MILL RATES CONSOLIDATED BALANCE SHEET DECEMBER 31, 1988 1988 1987 Residential Commercial Residential Commercial and Farm and Industrial and Farm and Industrial General Municipal 93.864 110.429 88.551 104.178 Regional 80.116 94.254 76.127 89.561 Secondary Public School 99.918 117.551 91.995 108.229 Secondary Separate School 104.355 122.771 99.368 116.903 Elementary Public School 137.321 161.554 122.349 143.940 Elementary Separate School 132.565 155.959 115.536 135.925 CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 1988 Budget Actual | Actual 1988 1988 1987 SOURCES OF FINANCING Taxation and user charges - Residential and farm taxation $2,448,227 $2,457,004 $2,106,938 Commercial, industrial and business taxation 434 811 468,175 375,520 Taxation -from other governments 87,708 89,611 82,775 User charges 561,140 693,900 580,433 Grants Government of Canada _-- 3,113 25,649 Province of Ontario 1,359,190 1,542,038 1,245,508 Other i =, Penalties and interest on taxes 140,000 157,300 146,326 Contributions from developers -- 331,250 404,820 Investment income = 80,000 202,559 128,717 Sale of land and fixed assets -- 100 100 MUNICIPAL FUND BALANCES, BEGINNING OF YEAR To be recovered from . taxation or user charges (70,414) (76,198) (151,177) Unapplied capital receipts -- 12,500 -- TOTAL FINANCING AVAILABLE DURING THE YEAR $5,040,662 $5,881,352 $4,945,609 APPLIED TO Current operations General government $ 564,459 $ 581,318 $ 457,284 Protection to persons and property 524,113 475,521 400,117 Transportation services 1,685,778 1,698,899 1,631,177 Environmental services 412,266 406,563 297,902 Health Services 4,015 4,115 3,762 Social and family services 16,500 8,914 10,859 Recreational and cultural services 633,393 707,526 601,087 Planning and development 51,335 88,946 46,770 3,891,859 3,971,802 3,448,958 Capital General Government 20,000 20,625 26,336 Protection to persons and property 184,268 163,887 94,250 Transportation services - Roadways 812,230 1,039,454 864,308 - Marina --- ----- 48,617 Health services 25,000 25,000 19,901 Recreational and cultural services 580,187 782,905 93,076 } 1,621,685 2,031,871 1,146,488 NET APPROPRIATIONS (FROM) TO RESERVES AND RESERVE FUNDS (472,882) (344,370) 413,861 MUNICIPAL FUND BALANCES, END OF YEAR To be used to offset (or to be recovered from) taxation or user charges -- 222,049 (76,198) "-Unapplied capital receipts es -- 12,500 TOTAL APPLICATIONS DURING THE YEAR $65,040,662 $5,881,352 $4,945,609 1988 1987 ASSETS UNRESTRICTED Cash $ 332,095 $ -- Taxes receivable 1,073,918 911,406 Accounts receivable 275,171 599,362 Other current assets 106,429 97,522 1,787,613 1,608,290 RESTRICTED Cash 558,110 621,733 Accounts receivable - own municipality -- 121,938 558,110 743,671 $2,345,723 $2,351,961 LIABILITIES TEMPORARY LOANS $ -- $ 32,420 ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 353,469 269,918 OTHER CURRENT LIABILITIES 429,836 428,582 783,305 730,920 FUND BALANCES FUND BALANCES AT THE END OF THE YEAR To be used to offset (or be recovered from) taxation or user charges in 1989 222,049 ( 76,198) Reserves 782,259 941,068 Reserve Funds 558,110 743,671 Unexpended Capital Financing -- 12,500 oT $2,345,723 $2,351,961 1988 1987 $ $ RESERVES: Working Funds 240,339 215,339 Municipal Projects 452,011 558,068 Sick Leave 20,248 98,000 Inventory 69,661 69,661 RESERVE FUNDS: Lot Levies and Subdividers' Contributions 493,768 579,882 Recreational Land 64,342 163,789 FUNDS HELD IN TRUST: 348,558 246,013 1,688,927 1,930,752 GENERAL NOTES: 1. In keeping with Provincial directive, the Township of Scugog statement reflects the operations, assets, liabilities, and equity of the Revenue Funds, Reserve Funds and Capital Furids, consolidated with the respective Operations and Balance Sheets of the Corporation of the Township of Scugog and its local Board, The Township of Scugog Public Library Board. 2. The enterprise of the Township whose revenues and expenditures have not been consolidated in the 1988 Financial Report is the Scugog Hydro- Electric Commission. 3. The data presented here has been extracted from financial statements audited by Deloitte, Haskins & Sells. Detailed financial statements and the Auditors' Reports thereon for the Township of Scugog and its Board, as well as the consolidated statements, are available in the Treasury Office. KATHLEEN HARPER TREASURER TOWNSHIP OF SCUGOG