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m thetklbunethub8day3welln jf i i a rc r enrporattott of qp maim jnf ilarkam municipal offices 8911 don mills road markham ontario woodbine ave just north of highway no 7 i t notes to the hnanoal statements december 31 1976 iaaxuxogpoicies 1976 audltedfiivanciat statements r a- thej nmtr ka fte reverses and espendeures or reje fund or rfte atufcnefiy andnkjatiritctmmeriauomanelcakandloabadlcflw4m cnrmtiioaitadiomcmm j fubtcttnry board comrmwy centre 8orads miaoum board 4 auditors report s tatl members crfoxj then ended in accordance with accounting pvnciplesgenef accept crf r j vitjr i i r k aftef gwng f etroactive effect to the changes letcrred to in note 1 1 to the financial staie on a we have examined the 1976 financial statements of ti tcw of marthamandte local bowds basis consistent with that of the preceding year t our examination indbded a general review of the accouruing procedoies and soch tests of account- r r- ing records and other supporting evidence as we considered necessan in ae circumstances toronto canada k may 6 1977 t- t eddo associates r v chartered accountants licence no 433 w in our opinion these financial statements present fairry tie financial position of the town of markham and its local boards as at december 31 1976 and the results of its operation for the year oowtd from gananl nwteetf imaum o ttw nwtcairvandttioaltotnkdmoibod innota thtiongurmhfcetrsporttf bwl o w aaoprity atpaynwri ol fft dtbt t mponitbirvoiewawvibtfcv o g c t m tf- s459071 i long urm bbcbts on tmhtif ol tt flwttpk wrpai fwpyrrwof m dtbc mi4i bt from tftt imtmi ol tftt wtmsyworfca and not frongtnvafnwicctfavvtja- ld babnco snott th ftatamoni ihcts tfw mm and tabtott ol thai ivnulunditmcitalhdrwv hj and tfx local bowdt dticjftad not 1 at tm iwtt and kabfimt for muncvai mtf prottt as defined n not 1m are not ttflactad capt to tf xtamof it icutadnttiongtcfm bbritaas and capital outlay to be racoverad tutur yarv td fried mt the hmorical con end accumulated daptedation ol fuadittanotfpoiitdloimunl purposes frmaad ih capal outlay to be lecovered luwe vm wttchttihaaggiagata ol tfe prropaf pomon of unmatured long term eababat caortai funds tranyfenad to oihcot ganuaoons and the cost ol cartal protects not w parnuaftlfainced reported on the balance sheet the unftfujneed caprtal outlay at oecember31 1976 nduocs 1246700 received from a sub- dnnder for capital construcbon of sewers to be completed n 1977 el munopal enterprises the revenues and expenrtmes for muofopai entarprrse actrvibcs are not reflected n the sutement of revenue and expendtfure except to the extent that the expenditures are re covered from general murmopal revenues muropa entaproe eettvrbes are those actrvroes whose oosts are substanbatty recovered from semce charges on the users and are as foaowv eiecucuuhty water worvsuuhty 0 charges for net long term kabtties debt retirement costs tnckrng prmopal and interest ace charged agams current revenues tfi the periods mwhch they are paki interest charges are not accrued lor the perods from the dateis of the latest rfiterest paymentjsl io the end of the financial year g trust funds trust funds admnstered by the muraopahty amounung to m9851 have not been tftfuded m these financial statements 2 capital outiay to be recovered in future years a some caput outlay to be recovered i future years does not represent a burden on general mutvcrpal revenues as it is to be recovered m future years from other sources spectal charges on benefitting 95 v landowners 9 9004103 s4418553 munopal enterprises 2395815 2050094 balance sheet december 31 1976 assets 111399918 6468647 lb capital outlays including fixed assets and the transfers ol capital funds m the amount of 567241 5 which have been financed from general munropal revenues of he cur tent year are reported on the siatement of revenue and expenditure r 4 3 reserves and reserve funds a provisions for reserves and reserve funds amounting to 120000 and 41 012223 respectrvefv are reported on the statement ol revenue and expenditure classified under the appropriate headings b the statement of revenue and expenditure does not reflect the fooowrng revenues for the year which were aedited owectry to reserve funds income from investments and 1976 1975 subdivide and developer contributions j 1988342 2255598 transfers from trust funds 33764 current assets cash and short term deposits accounts receivable taxes receivable investments other current assets capital outlay to be recovered in future years i liabilities 1976 1975 irestated current liabilities 556403 1w7025 2061674 2160922 1395959 2356371 temporary loans accounts payable and accrued liabilities 50000 50000 183678 9298780 200760 6164012 net long term liabilities reserves and reserve funds accumulated net revenue and unapplied capital receipts 11936128 12267511 21234908 18431523 1976 1975 restated 3907000 2115968 1108609 2115968 12130172 5893608 5015609 7303729 5034476 1095160 1077709 21234908 18431523 ss sl388342 c the total balance of reserves and reserve funds is 5893608 and rs comprised of the fotlowxig reserves v for working capital for equipment replacement j reserve funds from contributions by sub- dividers for specific purposes for sick leave benefits revenue under the planning act imposts and lot levies street fighting x owrc contingency sewer lot lees community centre expansion day care centre stabilization fund 517296 41210 1975 446796 37431 1050454 281763 1105189 197 370 637893 i985ss3 76488 u3528 444162 137414 5017 602800 343596 v 1703846 2466 r i 105688 v 372304 lt i e9870o 5335102 4nlongterml r a the balance for net long term eabrbtjes reported on the baurra sheer nrnade up tf the fok romng- f r total long term abilities inojned by the murircrf mar school boards ou rrxinopairties and munkipal enterprises and outsttnding at the end of the year amount to 986402 in adoltioa b rthinictpabty has assumed responsaity for the payment rmrxirpalarvj in- terestchwges on certain kngwmlabiutiesrasi yeatheprtrvpalartvmmofthruortktyis 846083 of the long term liabilities shown above the responsibility for payment of pmxapal and interest charges has been assumed by others for a principal amount erf 5703914 the tc value erf rt ing furxfc and ttabalar tjrement fund which have been accumulated to the end of theymrtorettefteajtstanovtg krvjtwmrbilrtsiftjudedarwartxkifltto 611199 1213172 long term kabstie issued by the mumcipabty and hefd by reserve funds as divestments amount to s 1100 netlcogtwrnsabrfrtiesattheendoltheyear 12130172 b01tiienetkngtamiiabxtiesreponedinaofthrsm peyabla from 1977 to 1981 876637 from 1982 to 1986 and 702stt25 tfweafter wxj re surrtmaruedasfolkrws j r 1977 1982 t v 1987 are mmmerindm follows a from general municipal revenues r from benefrtting landowners from municipal enter pnses 1981 to 1968 l od trweafter li07779 698385 1632685 8667102 m884733 1125984 321746 377850 1014908 227910 42876s37 t702s625 5 accumuutidn revalue alth end xtbye aecumutoled n rnenut of 1 1095160 it 0a end o rh ytjr leponrt on tttt wince sheer inchidm amounts related to benelinjng landowners when are not available as general muma 1 pal revenues and are analysed as follows i 1976 1975 spectalafobs r garbtge lor area 86116 60229 x z1m m4009 281888 aghbngarea 85128 69664 m95js3 mu801 special charges lor m458 6 charges for net long term uabdrbes tour charges lor the year or net long lerm bamues were as loaows prinopal peyments ncbdra contrubons to inking lunds and to the mewry ol the enveon- ment debt retrrement fund s 375678 t287902 1040861 600409 t1416s39 1888 311 0 the toulcriarges shown above 11133210 were pa from general munopal reveruesolme nwc fhaarried under the appropriate functional rwedno trie renvjnmg t283j29 wereteooveied 7 uamty for vetted sck leave benefits under the sick leave benefit plan unused sick leave can arxurixitou end employees may brkorne enmednawihrjeymemvnenthtryleeveiriemunrc the tabefty for i c days to the extent that they have vested end could be taken rn earn by en employee on rerminaung amounted to 1 281 763 at the end of the year wheh has been provided lor and ia reported on the balance sheer 8theanrlnrleoonact the nrunrcejetry its local ixwds are wagreeme c4cinedeervjrriegovemrienrytmhriceoonanod antmnflrrtron act icenedal and the neaonel guidermthlouxiliinoemicom penearjon peymems ekectrve october 14 1975 the munroper believes ha nnvlmd with trieprovleiontoftheaet 9 statement of revenue and expenditure for the year ended december 31 1976 accumulated net revenue at the beginning of the year expenditure general municipal purposes general government protection to persons and pioperty transportation services environmental services r health services recreation and cultural services planning and development region ol york purposes school board purposes total expenditure revenue general municipal purposes taxation payments in lieu of taxes ontario grants other region of york purposes r 1 taxatiot s a vpaymeinlieuoftaxes rvyv ischool board purposes r taxation payments in lieu of taxes total r avenue accumulated net revenue at the end of the year analysed as follows general revenue region school boards special charges special areas local boards 1976 j 1975 restated 1077709 996071 1071288 861580 1084195 892251 2493335 2c82820 1819820 1632019 4928 6334 3835165 3158080 354460 322194 10663191 8955278 3548625 3148420 10747258 8573199 24959074 20676897 6169431 r 5549294 29129 42614 1017378 777280 3481554 2580604 10697492 8949792 3449109 3207397 4520 34536293207397 j jilt mmjijrt 10811895 13509 8601346 10825404 8601346 24976525 20758535 1095160 i 1077709 i40988 303247 95667 190663 229268 151122 30458 8513 495253 411801 3526 12363 1095160 1077709 statement of capital operations for the year ended december 31 1976 1976 1975 unfinanced capital outlay at the beginning of the year capital expenditure general government protection to persons and property transportation services environmental services recreation arid cultural services planning and development total expenditure capital financing contributions from the revenue fund contributions from reserve funds and reserves long term liabilities incurred ontario grants other total capital financing unfinanced capital outlay unexpended capital financing at the end of theyear 4962582 3969259 67945 9864 1048047 1081440 873979 861324 13454 1401604 676105 2052882 5033- 3081275 5010402 672415 1576497 4766636 420000 803453 655130 974846 434374 1316381 636348 8239001 4017079 195144 4962582 it- 1 trust funds statement of continuity for the year ended december 31 1976 balance at the beginning of the year capital receipts deposits transfer from operations re sale of plotsx interest earned expenditure transfer to operations balance at the end of the year 1 rk i cemetery morganpersonj perpetual care fund v trust i income capital totals ah 26743 16369 4 2116 45232 v 1569 1569 90 1332 1500 1500 302 1724 174- 26833 19270 132 3616 49851 utsrteolyow1976tnkaarimri3m imumh mwbm llrenl ivofk mjo vvaecdel ivirrriyeii fmrjt hl- 1i7t im tk tim oo0 edusritetvt tst school smukhiri iw 00 tain ltt4 sua oo iviw imoo l00 ww 19900 i ii 00 stuoct s8t3 00 stlsoo 90o moo 0o 1990s 1ji00 mjsoo iioo 1w 199 0q rf 19 aarrfcrlmt irmtv f 7100 vtvkcotrvrwrdolfdwutton 1 so flfinaf mwhktmltv l vok nil tew e mafkitam i s noo rkr9p9nwc9 x so mp4vm schml nil fltpon mvmechmlry of yk m2m itmfoo tort l rurhktyit mmttt mi tat 2971100 assets cash t investments bonds canada r prbvincial short term deposits- due from the town funds balance capital income balance sheet trust funds as at december 311976 1568 2000 24833 17702 572 s 2140 500500 si 000 3000 1500 44035 26833 17702 132 300047535 44 176 26833 19270 13203616 49851 w 23000 14807 3833 4463 3616 4i423 132 8428- il 26833 19270 132 3676 49851 distribution of your tax dollar region of york c7 laconrjaautrorjtgatcm t- 1 lor property ueed lorj oiswal rwpoeaa the rnuncaeiryareahettlwoprjontgpurerieeeaie property at vie end or the latee term deoener31 1 m m a coot ol u0o000 11 r oh 97sctfripm figures qtnemeccurii net revenjetoemj rate habs bylrietoienofffterotriwtodcetrrtactrirr flrrnerttrwreenue v i tmclenrlnltli acoxrulelednerrevanueetrrieendoltie yeer tor on m ieew aeprrwlrreporierl im7j0t arj cr mrenorlel v l oeotemetjueijii j y staa mdtnrhnoai li tereseieri i 1 f mejyof a rotnan rrtftoftal courtcmon rap moran mrs alma watkar j counctefclll r ward 1- r fatnson ward 3 mr c ball ward 5 wb qriav ward 2 s j oaurtb ward 4 a b bonner ward 8 he imm jvivtlj i tifj r ward 7 ts gov l pujferkfan of tlw cifetwautjj rnaydal s and the report of thaatklitora thereon pursuant to section 224 1 of the municipal act the published statements herewith are essentia extracts from thvcompiettv financial reporting rarrterm on filrtat the municipal tfeasurevs office n r in j v r -v- f anthony romav mwr r tv barton trr