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the tribune ttejiit apri 27 1967 ftjjt 13 corporation of the township of markham audited financial statements and auditors report 1966 march 31st 1967 to the reeve members ol council and ratepayers of the municipal corporation of the township of markham we have examined the books and records of the township of markham and its local boards for the year ended december 31st 1966 we report on the financial statements of the township as follows results for the year the statement of operations for the year is summarized as follows revenue 3772427 surplus of prior year used to reduce levy 25609 total 3798036 expenditures 3662335 surplus for year s13569s the details of this account and comparison to the 1966 budget are shown on the statement of revenue and expenditure tax roll axd tax collections the revenue from taxation compares with previous vears as follows 1966 33001196 1963 2322313 191 19s0031 1963 1917245 1962 1568333 the taxes receivable including penalties on the current years roll are s373406 at december 31st 1966 as compared to s21s481 at december 31st 1965 the collection of the current years taxes including penalties represents 876 of the total 1966 tax roll including penalties as compared to 905 at december 31st 1965 on the 1965 tax roll the total collection in the year of 1966 taxes arrears of taxes for prior years and penalties represent 948 of the 1966 tax roll we submit the following comments upon certain of the items appearing in the balance sheets capital axd loax fund balance sheet work in progress 425585 the account is summarized as follows watermains 182148 parks and recreation 70871 public works 172566 s4255s5 tons term debt ontario wafer resources commission 51387372 water system 698517 sewers 688855 total 1387372 the municipality has signed agreements with the ontario water resources commission to provide a deep well system in water area no 1 the liability at december 31st 1966 of s69s517 represents the total cost of the projects less the muni cipalitys equity in the system at december 31st 1966 the municipality has agreed to pay to the owjtc amounts of principal each year for thirty years after date of completion of project so as to provide a fund sufficient to retire this liability the municipality has also signed agreements with the on tario water resources commission for the construction of sewers the liability at december 31st 1966 of s6sss55 represents the total cost of the projects to date less the municipalitys equitv in the projects at december 31st 1966 the municipality has agreed to pay the owjxc amounts of principal each year for thirty years from the completion date of projects so as to provide a fund sufficient to retire this liability revenue fund balance sheet due from the province of ontario 232381 the account is summarized as follows welfare subsidy 29s3 road subsidy 22s353 sundry 104s s2323s4 taxes receivable 542183 notices showing the balance of arrears of taxes owing at december 1st 1966 and requesting that any differences be re ported directly to us were mailed to all taxpayers in arrears we also made a similar test of the unpaid current taxes on that date ah discrepancies reported to us were reconciled to our sa tisfaction with the township records deposits for specific purposes 82200 this account represents funds received under subdivision agreements to cover future engineering and supervising costs pertaining to the subdivisions trust funds lot fee fund the balance on hand in this account at december 31st 1966 is 404397 this fund increased during the year by 137642 the fund is committed to an expenditure up to 341 iso as approved by bylaw 2257 the lot fee monies as described in the bylaw are to be used for a portion of the cost of park iagd and building township library site and building and municipal office building addition the fund at december 31st 1966 has advanced 70821 towards the cost of these projects and on com pletion of the projects the lot fee fund is to be charged with a portion of the final costs up to the amount of 341180 the township has expropriated a parcel of land for a park site in addition to the one noted above the final cost of the site is not known as settlement is subject to arbitration the original appraisal of this property was 5000 however it is indicated that further appraisal which is forthcoming may be substantially higher a resolution of council directs that the purchase price of the property is to be paid out of the lot fee fund if sufficient funds are not available in the planning act fund planning act section 28 the balance on hand in this account at december 31st 1966 is s219 the fund decreased after purchasing land at a cost of s36770 the net reduction in the year after investment income is 33760 we report on sundry local boards as follows crosby memorial community centre the operations for 1966 show a surplus of 4038 the balance on hand in the surplus account at december 31st 1966 is 18641 as compared to 14603 at december 31st 1965 victoria square community centre the operations for the year show a surplus of 1599 the deficit account at december 31st 1966 is 2405 as compared to s4004 at december 31st 1965 the deficit on operations is being financed by a temporary loan to the extent of 3000 we have seen no approval from the ontario municipal board authorizing the centre to borrow in this manner and to repay the loan out of the revenue of future years the community centre reduced the loan in 1966 by 1350 subject to la tiie lack of authority for the victoria square community centre loan we hereby report that in our opinion 1 the financial transactions which have come under our notice have been in the powers of the municipality 2 the audit has been conducted in accordance with the instructions of the department of municipal affairs 3 the financial statements present fairly the financial position of the municipality as at december 31st 1966 and the results of its operations for the year ended that date eddis associates chartered accountants license no 3240 date of filing with department of municipal affairs march 31st 1967 capital and loan fund balance sheet december 31st 1966 assets fixed assets 1618511 work in progress 425585 due from schools for debentures 3875612 due from water area no 1 for debentures 517242 due from other municipalities for debenture debt assumed 343288 due from other fund- water area no 1 re owrc debt 698517 accounts receivable 363 liabilities debenture debt issued and unmatured general 25950 local improvements 249065 public schools 2337863 high schools 500300 water supply system 524908 total 3638091 due to other municipalities for debenture debt assumed 1373066 long term debt ontario water resources commission see audit report 13s7372 temporary loan 149500 accounts payable 4026 due to trust fund 70821 due to revenue fund 201600 investment in capital assets 684642 s7509118 7509118 revenue fund surplus balance at credit december 31st 1965 deduct surplus taken into 1966 budget to reduce levy add surplus for 1966 balance at credit december 31st 1966 23609 25609 nil 13569s 135698 assets cash accounts receivable less allowance for doubtful accounts due from the province of ontario due from other municipalities due from other funds water area no 1 capital and loan fund lighting area garbage collection area taxes receivable current tax roll arrears 1965 1964 1963 and prior less allowance for uncollectible taxes prepaid expenses owrc interest revenue fund balance sheet december 31st 1966 liabilities 963 bank loan 5430 accounts payable 400 5050 due to other municipalities due to school boards 2323s4 duc t pohce viliage of thoniliill due to the police village of unionville federation of agriculture 9669 municipal recreation committee 201600 due to other funds 125 sewer area 216133 thoniliill library township library board toronto transit commiss bus line 373406 sngos deferred revenue and prelcvies local improvement debt charges ggg schools 1 county 542183 roads and bridges debenture 4000 538183 thornhill police village per capita grant sewer treatment area debenture prelevy received from other municipality deposits for specific purposes reserve for working funds surplus 993727 500000 60615 41528 28451 6226 9306 12s 4929 5405 109 215 1991 7750 3017 6173 2512 234 526 1001- 1090- 1498 11896 82200 105000 135698 993727 statement of revenue and expenditure for year ended december 31st 1966 revenue expenditure revenue from taxation debenture debt charges recovered province of ontario subsidies relief and welfare highway improvement police and fire share of liquor license fees payments in lieu of taxes per capita grant sundry grant in lieu of taxes hydroelectric power commission receipts from other municipalities relief city of toronto agreement re jail farm police radio agreement licenses and permits dog hunting building permits catering licenses septic tank permits sundry interest and tax penalties other revenues rent fines 1 planning board committee of adjustment sewer service charges and rates service charges sundry public works sundry income township of whitchurch re uss 7 reduction in provision for deferred revenue total revenue surplus of prior year used to reduce tax levy ctual budget 3001496 2879000 172292 172290 15761 2s2079 1517 1809 711 54711 1029 357647 1731 504300 1700 679 5152 4200 10031 8200 1747 1522 12509 2250 966 1521 53515 306s6 20000 25000 1020 10215 5744 3375 46521 255 43533 1669 1010 2s337 143029 72845 3772427 36s3335 25609 23610 actual budget total s379s036 s370s513 general government executive administrative other protection to persons and property fire police building inspectors dog control weed cutting sundry public works social welfare relief institutional care welfare administrator salary and allowances education including debt charges recreation and community services debt charges principal and interest less municipalitys share of school debt charges temporary loan interest taxes written off and rebates capital expenditures out of revenue other expenditures water area no 1 rates police village rates county rates lighting area rates sundry area rates library thornhill sewer area owrc contingency fund sewer area sundry operating costs and installations provision for working funds total expenditures surplus for year total publication of the above audited financial statements and the report of the auditor thereon pursuant to section 223a of the mnuicipal act t putbc reeve v a barton treasurer 10383 129246 66821 206450 234900 35s66 136701 19650 7453 2377 2417 224464 588971 224155 710000 17244 5349 2339 24932 1629813 27200 1555800 26091 25100 627029 327401 299625 12546 312171 2318 311985 3000 2321 5000 0828 21531 421536 23778 31339 1130 6031 16301 10000 614541 611503 3662338 3708515 135698 3793j036 3708515