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vassisjnesr- 12 the tribune thursday july s imt enrpnratum of wt haunt nf markham o toe tfm mmumws ol comocii lakabhaats aad mapaynoftiacofporbaaototomolllhwiaal m iii i ctuawuaicvi cunu oi 31 it7tf c tru wr tma nm k aooomax mm aeoaamc met cwfluf inn ilh ttawtifeiibfiiwtwaibttt i3tm lacootmtiaopoueim faj suuambi of snilaus end eeaoatlat tbrb hitiaw reoectt tne ittiwi end eapeoduurc of tne weeaue ftaad end the rodoariaf local boards end aiiampal ewerprtse pudke lttrary bowa covaunily centre boards mumuaboifd water utility cm suuimm of capital operations this luuatal reflect tne capital ejtpeoduixc of the municipality to be recovered iron urn funeral aaufifeipel revenue of toe aueawipaiity and iu local ooaros fend ocapaj enterprise described in t lie luiaoee sbeet tub tuunm reflects the assets end liabilities of tne revenue find tbc capital fund reserve unds and tne local boards and municipal enterprises described in seta 111 the assets and liabilities for municipal enterprises that have not bees cootoudtttd ar reflected only u the extent of the related net loflf tarn liabilities and capital outlay to be recovered in future cers to fued assets the historical cost and accumulated oepreciatica of fixed assets b not recorded for municipal purposes instead the capital outlay to be recovered in future years which la the agfrepte of the principal portion of unmatured lone liabilities capital fundi transferred to other orfamxauorts and the cost of capital projects not yet permanently financed u reported on the balance sheer c municipal enterprbes municipal enterprises are those activities arhote costs are substantially reco vered from service charges on the users the enterprise of this municipality mboae revenues and expenditures have not been consolidated in these financial statements is the electric utility if charges for net lone tern liabilities debt retirement costs including principal and interest are charged against current revenues in the periods in which they are paid interest charges are not accrued for the periods from the datcts of the litest interest paymentu to the end of the financial year gl trust funds truit fund administered by the municipality amounting to 75757 are only reflected in the trust funds statement of continuity and balance sheet 2 capital outlay to ba hao fcs fitutmt years a some capital outlay to be recovered in future years does not represent a burden on general municipal revenues as it b to be recovered in future years from other sourceti special charges on benefitting landowners municipal enterprbes 64376663 1243773 64671 844 1331716 s562043s 65603760 b capital outlay including tixt xwu and the transfers of capital funds in the amount of 91532706 wtld iiave been financed from general municipal revenues of the current year are ported on the statement of revenue and expenditure 3ftsenrfufxu during the year 66363871 ware credited directly to reserve funds without being recorded as revenues and expenditure of the fievenue fund major sourcea werei income from investments subdivider and developer contributions 4 net long term llettwmm the balance for net long term liabilities reported on the balance sheet is made up of the following total long term liabilities incurred by the municipality including those incurred on behalf of former school v boards other municipalities and municipal enterprbes and outstanding at the end of the year amount to 103057 in adoltion the municipality has assumed responsibility for the payment of principal and interest charges on certain long term liabilities issued by other municipali ties at the end of the year the principal amount of uustlabuityb 8264304 of the long term liabilities shown above the responst- bility for payment of principal and interest charges has been assumed by others for a principal amount of 4317520 tha total value of sinking funds and the balance in the ministry of the environment debt retirement fund which have been accumulated to ltd end of the year to retire the outstanding long term liabilities included above amount to 126023 long term liabilities issued by the municipality and held by reserve funds as investments amount to 750 met long term liabilities at the end or the year 11150574 on january 1 117 a new hydro electric commission was established known as the town of marknam hydro electric commission thb commission assumed the operations of the former utilitytown of kerkham hydroelectric utility and that formerly operated by ontario hydro within the town of uarkhsm the operating assets and liabilities of tte former utility were assumed in full in addition the operating utility plant and equipment of ontario hydro were acquired and the final cost which b estimated at m730oo at the date of these financial statements b under negotiation with ontario hydro and is subject to arbitration the long term debt financing agreement with ontario hydro for the final cost of 1175000 u not complete and based upon a 30 year repayment period and the current rate of interest used by ontario hydro monthly instalments of principal and interest to repay the debt would amount to 101424 annually also the commission b obligated for idt20 under a bank term loan which b repayable in blended monthly instalments of principal and interest which totals 170110 annually the total of irks term financing which amounts to 88870630 b in addition to the net long term liability summarized above 6 accumulated net revenue at the end of the year the balance in the revenue fund at the year end is available to reduce the levies of tha following classes of ratepayers 1v70 17 1 general ratepayers designated ratepayers school board ratepayers region ratepayers 81 994166 382767 435564 445041 1402160 341023 31v 044 347631 u 267 576 12416015 6 char for ftl long torn urtffities total charges for the year for net long tera- uabulties were as follow principal payments including contributions to sinking funds and to the ministry of the brrlrofumenl debt retirement fund 462751 1662063 interest of the local charges shown above 1466616 were paid from general munfelpel revenues of the snjcipeiity and are included in espendlture on the statement of revenue and expendhare- classified under the appreciate functional beading the reesalaing 46625 were r from ewiidpcj enterprise for mcn the related net long tarn usbbtiea were incurred end are not reflected in the statement 7liebuhy far vested bfcfc leave benetta under the sscft leave benefit plan unused sict 1 ay become entitled to a cash paysent w essploymeat can accumulate and emplo they ware the miidpelny1 tm stability for these accwaiated days u tna aslant taat they have vested and eoukf be taken bs cash by an anwoy en terminating amounted to 422161 at the end of the year aft amowm f 517611 nr ttebinty and m reported en tne balance sheer ims been provided for thb pan service t finmnwi u balance sheet date a new long te csseboity plan was approved and approximately 636mm as tne necusmnetad sic leave benefit plan beoame pajaso to eogibe emptoi o wflpnen 0xjs tne astposl end lac levy fase of 64u6m51 fwfty ifftt car tne numsng ee wirwtfconal wad ewttjsrej fa eamauned as nf dane near u jijeyeai 1979 audited financial statements statbaaa of bevaaje mo expbbnwe m the yem bob tosua 61 1676 tetaieijiefrtbii tmasfen so icejon or county tmnsfcn to school boards tees a total capeadanwea and ineafen ebyp mufljopal purpotca tsution paymenb m neu of u in onunogrsau other grsnrs feci aad icrioc charert other revenue to pay fee nwwopil parpo repoa ee cowaty rroutuboa teutmm psymcatt m bcu of inn onunosfuu other revenue to piy the rrgtoa at count mjumtitmi school board requhiuoa tsution fjyntnti in bcu of uin other revenue to pay ibe school board reountiioa total n accumtdaied net revenue deficit at the end of the year arulynd is follows ccncfal revenue rrpon or county school boudk spccul charm spccul srui local board munkipil cnlctpntei 1 not m4 iuiou 2272743 lsntu luiui ttmui imnc 44u 44ssi1s u4u4 1401141 1s4749s 4341423 2 ssi 146 3374 4s32 3134602 397 941 uaumi 14206440 jju517 tu2s 146ssc64 im i1s16x73 4s42st7 16723713 1us 7202466 46663 1190606 iiso 44s6t 1049 616 3416861 lfik3s1sl 14106210 7uii s031 6745 s69 4436 51 113669 7s171 6963964 16 977 its 16207 3s3s7 17311719 14611311 16670 14699881 4177s2s1 35669066 3267s79 2418085 1074730 44s042 43ss64 1034482 347838 319044 392767 2sss9 91066 349023 143b9 353309 3267679 2418035 bauuaxsmeet a6 at ts3sn 31 1676 oukiiu uabaitcs omtculwtatxt tconiylmas othqcufrcnlfcihtlififl net img kf bkbikoct tncnrt lad merit fwdi acoinwuttd mi k dcficio md wuppboj ofiul rcctips 17663407 3264131 103 93 hm 91952 12641 197 24444 itaui mtof 664974 34113317 24601941 11 150574 16475590 34233329 1645783 1041125 1147901 11661367 9241376 re6exve anb reserve hmos 6tatemejt of ctlwity anb analysis of year end position for the year en0e0 dhxukft 31 1979 statement of capital operations for the year ended december 31 1979 unfitunccd capital outlay unexpended capital financing at the beginning of the year capital expenditure general government protection to pctioni and property transportation kiticci enviivoroenul services health services social ami fatiiy services reoeaiion and cultutii services planning and development other total expenditure capital financing conmbutions from the revenue fund contributions from reserve funds and reserves long term labilities incurred on urio grants other total capital financing untinanetd capital outlay unexpended capital financing at the end of the year 1705676 205063 1728861 2392060 1 1532706 3007904 5 sod 1398085 3030566 1304837 20137 686624 2014280 3777143 2105111 3225 1654812 4648740 775647 3050077 1 6128 2i 1979 acimi l8 acimi available at ihe brrinnini of the year for future muiucipal purpose 6349376 8730340 6w conlnbutions from the revenue fund 333167 337108 contributions from developers 7166607 5838258 contributions from capital fund 299696 221264 ontario home renewal grant 44403 donation interest earned 695 366 1000 expenditure 8696736 6669016 transfers to the capital fund 3007604 4648740 transfers to the revenue fund 790713 1114937 direct expenditures 666909 692300 446426 64ss977 available at the year end for future municipal purpout 13 476 90 9243378 analysis of yearend position as at december 31 1979 reserves for working capital for ecjuipmem replacement reserve funds contributions by subdividers for specific purpose sick leave benefits recreations land planning act impost and lot levies ohrc contingency sewer lot fees day care centre stabilization fund ontario home renewal plan u year end pouiion of reenes and reserve fundv 717296 103398 2637178 697966 2246944 6394061 183796 116223 20419 411000 48350 13475590 642296 50000 692296a 1835022 436917 2300764 3094797 169436 244395 14679 411000 44452 eiiioii 6 o analysis of assets and liabilities as of december 31 1979 cash and term deposits ta i es receivable accounts recervjhle investments other current assets capital ovluv la be recovered in future years oliver lone ctm vl total mlll 131111 ltlll m llmmtt m1i0 11jj1 1171 141m0 1171 4tll 6v4s4his i itt si imht j4i3 iistb1 ifciijjii it74slt t smicj1 itkim imiaii 1is53407 jj14i1i 1001 saooo sil ilmieej current iiamiliev temporary lojnv aicounu payable and accrued lubililie other current liantiito net lonj term uabtlni revrves and rere fundv babnee t ihe year end total ie4mtii i0s7 it till rtijooe it7llll smt titrr mlats i tit in 7171s llt ijmjllj jt s4ast jlwtm j itttl ltt4s1m iw4i1t jtjm 1174 j t th l f t 4sut47 4t4t iiu114 u4tssm 4ulllt 141111jt m wit ilplun of ifmatbfjam marttiam offers financial stability economy and efficiency within minutes ol metropolitan toronto markham is the fastest growing municipality in the region tax rates are attractively low with a solid financial base the town general tax rate did not increase in 1 9761 978 and 1979 despite the inflationary conditions prevalent in the economy in 1 980 the town general taxes were ac tually reduced which accomplishment reflects beneficial financial stability official plan monitoring policies have been adopted to control the desired assessment ratio between industrial commercial and residential to en sure the continuance of existing economical tax rates transportation is efficient with easy access to all major highways rail and water routes maritham provides subur- ban living at its best excellent recreation facilities include modem arenas and fitness centres swimming pools golf courses and numerous parks find out why many major industries have made the right decision to locate in marithams attractive industrial locations ourcontlnuous and successful rate of expansion most assuredly speaks for itself your future starts here and progresses with confidence and security council mayor a roman regional councillors rap moran alma walker carole bell councillors ward 1 r femson ward 3 dq wilson ward 5 rl oancoy ward 2 ac sherwood ward 4 ab bonner ward 6 he miles ward 7 ts gov 0 distribution of tax supported services m the town of markham 160 s 1676 1676 1677 h 1676 if -1121- 1674 1673 m 83sjcu13xtte 50 828727760 00 46 62s900 000 00 40 s22561570 00 46 61927631200 47 816413300 00 45 612647229 00 1 810400948 00 43 1361 somm 39 s 7000 oo 40 821500 000 00 41 616652900 00 41 816500600 00 41 8164m200 00 46 61334300000 1 61231b254 0o 51 8 j3so0o0 12 8 6466000 00 11 8 5 600000 00 it s 536145000 11 8 4536000 00 12 8 3270700 00 9 8 233530000 al 6 1374433 00 6 666j671 3200 100 1 56542710 60 100 563 000 00000 icon 846776620 00 10os 840324112 00 toox 53617120000 100 828535529 00 toonj 624154635 00 100 acnotf board pipoeeo piiyttaqo of oivaarte s ejsflen6fvove ao- pm io reduce eve teas ittvpoaed otnee nvrlelpat 4 school beard mumopal taxes reduced for 1980 2 plcascnote yosjr lawocaf al taxcs reesvalnad ooiktanl askd tear 4jffle mubaahed for threw eona4kvtrve 1177 197i 1178 hi 1t40 i ftcwced the lmcpj qyora4 itslrvasss itiiocosssass i w mtxtmtd deeprte peat and aaiatang irrfwttcmaey lu m in ths cocamj yosjr 1640 1 ta aetitsg rvcere- mm be onset by ttve ha er a i ad etfa tea ediscsjtloti col a3ud6 are beyond osr lvrivmctioni contrrjl and oon60aiisi n mnuku peelajrong to ntase ooat 4aulailom auy b olroeted to the bcierd of 19900fvtiwvvucc4tfteijte 76 ccnts foft every dotxar realty ascq4raflcoto 197960 82 1978 so 84 197760 64 19785086 197s10i 19745104 19738118 19728128 note- stattstlcat 4foftmatlfr shqvvm per tews markeo fl 2 6 3 00 not form part of auott report 6 auotteo statements g a8sessmeot analy81s totai jcossammt mimirsas rs tisseajsaae t saaaisijeaaa leit ssis4u4s4 00 rs siaa jtsaieoo taaaeeomoa oo aaaaritjoooo tt ioaeo600 s iaiii naosoo oo aomikat i in 6vaosia5iioo rrx tmyiiaaaoo 21 leeoo iu73uisooifi6 w4 meseifjraoo 7t stosaiseei too 71 is 00 uusnooooo icos im ooooo 00 fpuktcation ol the above audited fsruncial strtttrtonts and the report of tttt aodrtof mexeon pursuant to section 224 1 ol the munmact the pubkshed statements hctewmh are essentia extracts trooi the complete frtencjaj rtpofcng i docuitenttonisttiemu cjl uitivi tttmu ristwajtmjrrf f t stttj