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Page 10, Terrace Bay-Schreiber News, Wednesday, July 23, 1986 & TOWNSHIP OF SCHREIBER : CONSOLIDATED BALANCE SHEET AS AT DECEMBER 31, 1986 ASSETS 1985 1984 Unrestricted : Cash 43,294 234,656 Taxes receivable 149,987 164,017 User charges receivable 2,840 3,116> Accounts receivable 338,412 99,289 Other current assets 4,659 ' 539,192 501,078 Less payable to reserve funds : 53,689 485,503 501,078 Restricted Cash. 114,249 276,216 Receivable from revenue fund 53,689 167,938 276,215 $653,441 LIABILITIES is oe gee payable and accrued 3 iabilities $2386 Other current liabilities naa ria Fund Balances At End Of Year = ma To be used to offset (or to be recovered from) taxation or user charges in 1986 (note 2) Unexpended capital financing (note 2) ' 189,188 33,000 Reserves (note 3) 150,000 100,000 Reserve funds (note 3) 167,938 276,215 $653,441 $777,293 TOWNSHIP OF SCHREIBER STATEMENT OF CONTINUITY OF RESERVES AND RESERVE FUNDS YEAR ENDED DECEMBER 31, 1985 z 1985 1984 eserves Balance at beginning of year $100,000 $100,000 Appropriations from current operations 50,000 Balance at end of year $150,000 $100,000 Reserve funds Balance at beginning of year $276,215 $302,864 Revenue Interest earned 13,233 27,672 Contributions from current operations 50,270 62,000 63,503 89,672 Expenditure Contributions to current operations 6,618 Contributions to capital operations 171,780 171,780 48,618 Transfer Ontario Home Renewal Plan to : Trust Fund . 67,703 Balance at end of year $167,938 $276,215 Total $317,938 $376,215 TOWNSHIP OF SCHREIBER NOTES TO CONSOLIDATED FINANCIAL STATEMENTS . YEAR ENDED DECEMREFR 21 19h 4. ACCOUNTING POLICIES (a) Basis of consolidation (i) Consolidated balance sheet This statement reflects the assets and liabilities of the revenue fund, capital fund and the reserve funds of the municipality and the following local boards: Public Library Board Recreation Committee All inter-fund assets and liabilities are eliminated with the exception of loans or advances between the reserve funds and other funds of the municipality. 2 (ii) Consolidated statement of operations This statement reflects the sources of financing and expenditures of the revenue fund, capital fund, reserves and reserve funds of the municipality and those local boards, described in note 1 (a) (i). All inter-fund sources of financing and expenditures are netted with the exception of interest income and expense arising from loans and advances between the reserve funds and other funds of the municipality. (iii) Non-consolidated entities é The following entities are not consolidated, except to the extent of the amounts due to or from these entities and contributions by the municipality to these entities: Schreiber Hydro-Electric Commission Unconsolidated Joint Boards Thunder Bay District Health Unit District of Thunder Home For The Aged (iv) School boards The taxation, other revenues, expenditures, assets and liabilities with respect to the operations of the } school boards, are not reflected in these financial statements except to the extent that overlevies /..ndarlevies) are reported on the consolidated balance sheet as other current liabilities (other current