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I THE LIBERAL, Richmond Hill, Ontario. Thursdal To The Reeve, Members of‘ (Scum-ii and Rate.- payers of The Municipal Corporation of the Township of Vaughan. We have examined the books and records of the Township of Vaughan and its local boards for the year ended December 31st, 1962. We report on the financial statements of The details of this account and compariâ€" mn to the 1962 budget are shown on the statement of revenue and expenditure. We report on the fin: the Township as follows: RESULTS FOR THE YEAR The statement of operat is» summarized as follows: RevenuB ................................ Surplus of prior year used to reduce the 1962 levy ...................... TAX ROLLS AND TAX (‘OI.LE("I‘IONS The revenue from taxation compares with prior years as follows: 1962 ............................................ $1,851,325 1961 ........ 1,710,839 1960 ........ 1,400,494 1959 ........ 1,130,028 1953 ............................................ 1,016,926 The taxes receivable including penalties on the current year’s roll are $252.052.88 at December 3lst, 1962 as compared to $280,885.18 at December 31st, 1961. The col- lection of the current year’s taxes, including penalties represents 86.4% of the total 1062 tax roll including penalties as compared to 831.;?% at December 313i, 1.961 on the 1961 tax ro . Total The total collection in the year of 1962 taxes, arrears of taxes for prior years and penal-ties represents 102.7% of the 1962 tax roll. REVENUE FUND BALANCE SHEET Due from the Province of Ontario, $129,822.65 ‘ This account is summarized as follows: Relief subsidy ................................... . 3,221.54 Highway subsidy ................................ 124,973.07 Winterworks subsidy accrued 720.59 Sales tax recoverable 907.35 CAPITAL AND LOAN FUND BALANCE SHEET Due (mm Other Funds Due from Other Funds - Revenue Fund 319447.64 The account represents capital funds on hand in revenue fund bank account at the year end and is made up as follows: Proceeds received on the sale of debentures and unexpended at December 3m, 1962 ........................ 27,635.32 Deducrt: Funds advanced pending receipt of debenture funds less tempor- ary loans .............................................. 8333168 Capital and Loan Fund re Municipal Building, $25,000.00 This account. represents funds expended to December Slat, 1962, on the office building in excess of funds provided to date. This amount is carried as a deferred charge against the revenues of future years. Wate‘r. Area No. 2, $38,833.39 Amount due under contract re sale of debentures ........................ This account'repr'eseâ€"hié funds advanced to the above water area to finance the deficit Due. from revenue fund Due from other municipalities (for debentures assumed) ..... Dus frpm qtih‘ties and other Due from schools (for debentures) Public ................................................ 1 Fixed Assets: Municipal office property and equipment ...................................... Fire Department property and Total municipal enterprises (f6;- debentures) E’ater supply system ....... equipment .................................... Police Department equipment. Road Department - garage and equipment ...................................... Land re dump .............. Streets and roads Pine Grove water ............. Maple Community Centre Drainage ................................... ‘olleg‘iate and High Expenditures Surplus Township Of Vaughan -=Auditor’s Report CAPITAL AND LOAN FUND BALANCE SHEET ASSETS: of operations for the year area to finance the deficit. April 161311, 1963 as at DECEMBER 3lst, I962 $ 17,602.42 2,401,439.69 2,383,837.27 386,319.69 15,120.00 35.403.175.40 $19,447.64 ].353,892.25 1326,63153 $129,822.65 644260.77 56,951.57 1,000.00 153,287.84 714,069.31 300,770.45 370,734.98 48,890.00 4,700.00 18369.04 8,138.84 746.84 19‘447 9,431.36 on operations to December Sls’r. 1962. Water Area No. 3, $15,351.28 This account represents funds advanced to the above water area to finance the Wol'k in progress. Taxes Receivable, 3289.261.” Planning Act, S28. $5275.00 This amount represents Trust Fund monies on deposit in the revenue fund bank account. Notices showing the balances of arrears of taxes owing at December lst. 1962, and requesting that any differences be reported directly to us were mailed to all taxpayers in arrears. We made a test of the current taxes unpaid at that date in a similar manner. All discrepancies reported to Us were reconciled to our satisfaction with the Township records. Debenture Prelevies, $12,973.48 This account represents a prelevy for public school debentures. We are advised that the Municipality si making no levy in 1963 for the debenture debt charges included in the above prelevy. Due to Other Funds - Trust Fund; WATER SUPPLY SYSTEMS Water Area No. I The operations for the year show a deficit, of $18,786.46 after debt. charge of $93,998.75. The deficit for the year increased the accumu- lated deficit in the Area to $32,802.15 :1 December 3lst. 1962. - Water Area No. 2 The operations for the year show a deficit of $9,976.86 after debt charges of $19,280.00. This deficit: increased the accumu- lated deficit in the Area to $38,587.64 at December 31st, 1962. Water Area No. 3 The operations for the year Show a surplus of $1,232.77 after debt charges of $690.44. The accumulated surplus ai. December 315i, 1962, is $1,989.84. At December 315i, 1962, a capital addition for the system is in progress and the expenditure to date is $17,329.61. The project is under the approval of the Ontario Municipal Board and the cost to date is advanced from the revenue fund of the Municipality. Water Area No. 4 The first year of operation resulted in a deficit of $537.38 after providing $6,407.40 for debt charges. Water Area No. 5 The operations for the year show a surplus of $3,520.48. The accumulated surplus account at December 3lst. 1962. is $6,116.98. We recommend that in the case of Water Areas Nos. 1 and 2, where the deficit accounts have increased during the year. that the water rates be increased or a general levy be made in the respective areas to recover the amount of the deficits. debentures assumed) ...... Temporary loans ......................... Due to revenue fund ................. Due to School Area ..................... Due to York Central District High School Board ................. Due to Water Area No. 5 ----- Invesment in capital aesets ----- Debentur'e Debt Issued and Unmatured Genera} ................................................ 342‘ Drainage .............................................. Local improvements -------------------- 129‘ Public Schools .................................. 1,566 High Schools .................................... 492 Water Supply System ................ 1,303 Due to other municipalities (for Date of filing with Dept. of Municipal Affairs, Subject to the comments in the foregoing report, we hearby report that, in our opinion 1‘ go The financial transactions which have come to our notice have been within the powers of the Municipality The audit has been conducted in accord-. ance with the instructions of the Depart- ment of Municipal Affairs The financial statements present fairly the financial position of the Municipality as at December 3lst, 1962, and the results for the year ended on that date. ‘. May 2. 1968 Tom] LIABILITIES EDDIS & ASSOCIATES. I Chartered Accountants. License Number 2377 35.403.175.40 3.834.953.29 342,238.84 746.84 129,696.31. 1,566,866.20 492,000.00 1,303,405.10 955,973.56 127200.00 25,000.00 215,343.15 17.605 204,372 Cash and hand and in bank Accounts receivable Less allowance for doubtful acéOLints Due from other funds:' = Water Supply System ~â€" Area No. 2 ................ 38,833.30 Area No. 3 ...................... -. ............................... 15,351.28 Capital and Loan Fund -â€"- ’ deferred charge re municipal property 25,000.00 Trust Ffind ...................... l ................... ....... 718.74 Due Due Due Due Less Taxes receivable: 1962 Tax Roll . . . . . . . . . Arrears - 1961 . . . . . . . . . . . Arrears - 1960 ..................... Arrears - 1959 and prior Revenue from taxation ........ Debenture debt charges rec’d Dominion of Canada subsidy Province of Ontario subsidies Children’s protection Relief .................................... Highway improvement Paymt’s in lieu of taxes Police and fire .................... Per capita grant ~ ------ Winterworks ---------- Warble fly Inventory - Public Works Trust fund for Public School purposes Interest & tax penalties Other revenues: > Rents ............................... Fines ............................. Fees - committee Total I'evenue_ ............................ Surplus of prior year used to reduce tax levy -------- Total Receipts from other Municipalities: Relief .................................... Receipts from Government Enterprises: Ontario Hydro Electric Power Commission - , Grant in lieu of taxes 5 Department of‘ Transport ~ Grant in lieu of taxes ~~~~~~~~ Licenses and Permits: Dog ................................... Building and sundry Lie from local boards: ' - Richvale Community Centre Thornhill Police Vii-lage ------ from the Province of Ontario permits Tourist .................... Septic disposal ................ Eating establishments .. Race track ........................ Amusement and theatre Sundry Taxi-cab of adjustment ------- Service charges ......... Sundry ......................... By-law amendments Sale of maps ............. Capital lot fees --------- from Dominion of Canada I from schools allowance for uncolle’c‘tible taxes STATEMENT OF REVENUE AND EXPENDITURE FOR YEAR END -- December 3lst, REVENUE: Actual Budget EXPEN DI’ ASSETS Balance at credit, December 3Ist. [961 ADD: DEDUCT : Balance at credit. December 3lst, 1962 ADD: 7,614.14 22,164.29 190,188.03 4,979.29 734.01 58,394.00 753.05 298.97 13, 1! 476.72 500.00 278.00 165.00 500.00 791.25 111.50 366.00 800.00 1,610.00 2,126.77 900.00 296.55 22,037.11 3,819.75 40.00 6,233.52 Inventory of Public Works supplies set up December 315i, 196] ................... Less adjustment to 1961 Highway ‘ - subsidy ..................................................... Surplus of prior years used to reduce 1962 tax levy 1961 Engineering costs recovered Surplus for the year 73.00 32.401.439.69 289,261.11 10,000.00 252,052.88 3] 572.71 Actual 1,857,324.68 146,039.89 11,146.11 2,386,319.69 REVENUE FUND SURPLUS ACCOUNT 14,753.13 5,000.00 285,125.78 4,868.71 766.81 REVENUE FUND BALANCE SHEET as at December 3], 1962 21,008.22 1,790.93 26,713.56 34.043.95 15,120.00 187.61 695.12 2,489.97 636.55 $636,738.32 129,822 123.195 279261.11 13,622.49 32.409357 79 3303.41 Budget 1,840,640 146,050 9,700 2,394,237 9,758.13 313.197 ‘l 19 882.73 33.650 30.000 18,500 15.120 Temporary loan ..... ........ Accounts payable ...................... Debentures and coupons due Principal ......................... Interest Due to other funds: Water Supply System Area No. 1 ............... Area No. 4 Area No. 5 ............... Capital and Loan Fund Trust Fund ......................... Debenture pl‘elevies .............. Due to other municipalities Due to schools .......................... Due to local boards etc.: Maple Police Village -------- H.E.P.C. - hydro arrears Lighting Areas .................. Reserve for contingencies ------------------ Deferred revenue: Roads and bridges .............................. Local improvement debt charges Schools .................................................. County rates ......................... Per capita grant .................. Maple Community Centre . Maple Public Library. ......... Thornhill Public Library . Revenue Fund Surplus Account Other expenditures: Water Area No. 1 ........ County rates ............ Police Village rates Lighting Area rates Library rates ............ Winterworks project cemetery ................ U. S. exchange ........ Total expenditures Protection to persons and property: Fire .......... . ..................... Police ............................ Warble fly .................. Weed control .............. Maple Community Centre Taxes written off .................. Capital expenditure out 0 revenue ............................ Provision for deferred revenue ................ Surplus for year General government: Executive ................ Administrative Other ........................ Public works Education including debt charges ............................ Debt charges: Debenture principal and interest ............... Less Municipality's share of school debt charges Temporary loan interest Social Welfare Relief ..................... Institutional care Administration Total 'oronto Transit Commision Bus Line December 3lst, I962 EXPENDITURE: 8,843.42 5,678.48 System â€" 15,120.00 32,793.98 17,673.98 17,602.42 6.835.013 1,665.80 293.12 LIABILITIES: 29,265.36 110,195.73 369.68 472.46 488,240.89 24,775.43 50,855.24 29,561.76 11,170.00 41,434 3O 3,715.50 3,000.00 0,113.73 3,504.62 364 592 404.89 166.82 76 1,062,685.97 2.383 48.896 3.190.143 2,096.54 166.09 19,447.64 186,800.67 140,303.23 378,692.23 401.439.69 3,612.51 77.00 328.83 Actua! 4,500.00 4,696.80 5,275.00 1.681 5.421 36,277.26 11,146.07 17.6024 33,618.35 47 858.6l 11.92 110.09 66.96 56 $636,738.32 250,000.00 123,840.48 12,973.48 12,061.47 10.()()0.()0 65.687.15 35,276.40 Budget 181.68 78,326.82 1,050.271 9.19680 4.018.534 5.175 194.780 143.140 451,477 245, 409 409 41,500 76.439