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1 We have also prepared Balance Sheets as 1: December 31, 1962 and Statements of Rev- nue and Expenditure for the year ended Dec- ber 31, 1962 for each of the Boards and ommissions of the Town, which are included 'th this report. l'he Ratepayers, [‘he Corporation of the Town of Richmond Hill, )ntario. In accordance with the terms of our apâ€" wintment, we have audited the books and records of The Corporation of the Town of Richmond Hill and its Boards and Commis- sions for the year ended December 31, 1962. We have prepared and submit herewith a Zapital Fund Balance Sheet and a Revenue Fund Balance Sheet as at December 31, 1962 ,nd a Statement of Revenue and Expenditure for the year ended December 31, 1962, to- gether with supplementary schedules as ietailed in the Index attached hereto, on the forms prescribed for the purpose by the Department of Municipal Affairs. Cash on deposit in the various bank acâ€" ounts of the Town and its Boards and mmissions at December 31, 1962 was veri- ed by direct communication with the various epositories. Uncollected tax arrears, penalties and in- est totalled $250,514.52 at December 31, 962. Details of the individual amounts con- ined in this total are set forth, by years, on chedule No. 5, together with details of the llection of current taxes and tax arrears r the year ended December 31, 1962. The amount of $888,970.43, shown as due 0 other municipalities, consists of the unmat- red principal amounts of the various deben- re issues assumed by the Town from the ownship of Markham after annexation of 9. art of the Township, together with the Town’s roportion of the High School debentures is- ued by the County of York and other munici- lities, as shown on Schedule No. 2. The amount of $2,032,207.86, shown on the Balance Sheet under the heading of General Fixed Assets, contains the values disclosed by :he records for the various municipal lands and iuildings, plus additions made to the various :apital accounts from current funds. The amount of $321,026.24, shown as due From other municipalities comprises the total lchool debenture debt assumed by the other mnicipalities comprising the school areas. The letails of these amounts are set forth on Schedule No. 2. id at December 31, 1962 shows an increase The total of tax arrears and penalties un- 8. $33,778.70 over the amount outstanding at eeneral Fixed (as per sch. 18) York in Progress bue from Schools (for Debentures) Public and iEVENUE FUND BALANCE SHEET. 3APITAL FUND BALANCE SHEET. 'ue from Utilities and Other Muni- cipal Enterprises (for Debentures) Water Supply Continuation $1,665,853.86 Collegiate & High 1,036,138.07 Technical and Vocational System‘ 7 Electric Light and Power 590,087.96 Gas Supply System Street Railway Bus Lines Telephone System Housing Cemeteries Other (specify) Public Library Bd. 36,000.00 us from Other Municipalities (For Debentures Assumed â€" Schedule 2) ue from Sinking Fund (For Re- tirement of De- bentures â€" Form H) :counts Receivable (Schedule 17) :Her 'i‘angible Assets (specify) Industrial Land D.W.R.C. Disposal Plant Extension aficits or Extra- ordinary Expen- ses Capitalized .e from Other Funds 'estments ICHMOND HILL We report as follows: LIBERAL, Richmond Hill, Ontario, Thursday, TOWN OF CAPITAL AND LOAN FUND BALANCE SHEET ASSETS $ 356,700.40 Toronto, Ontario. March 22, 1963 $6,7 29,438.84 $2,032,207.86 General 90,654.14 $121}; December 3|, I962 2,701,991.93 167.27 210,553.94 327,410.32 982,788.36 821,026.24 25,706.28 36,932.50 Enola‘toae 'fe * Fleutia December 31, 1961. This total of tax arrears and penalties unpaid is equivalent to 13.66% of the 1962 tax roll as compared with an equiva- lent of 12.85% of the 1961 tax roll unpaid at December 31, 1962. NOTE: Guarantees or Contingent Liabilities (Schedule 16). Current tax collections for the year ended December 31, 1962 amounted to $1,674,823.02, including discounts allowed. This collection of current taxes is equvialent to a collection of 91.31% of the current tax roll as compared with an equivalent of 91.35% of the 1961 tax roll collected at December 31, 1961. Total Due to Other Muni- cipalities( For Debentures As~ sumed - Schedule 2) Other Long Term Debt (specify) Ontario Water Resources Commission Temporary Loans Accounts Payable Under an agreement with The Ontario Water Resources Commission dated December 16, 1957, the municipality has incurred a debt of $359,420.34 covering the construction, maintenance and operation of a sewage dispos- al work and has incurred a debt of $218,456.54 covering the construction, maintenance and operation of an elevated water storage tank. Principal is repayable at an annual rate of 2% of the total cost over a period of thirty years. The balance owing on this debt at December 31, 1962 after deducting the municipality’s equity of $51,624.97, amounted to $526,251.91. We hereby report that in our opinion: (1) The financial transactions which have come under our notice have been within the powers of the Municipality. (Schedule 17) Due to Other Funds Other Liabilities (specify) Unexpended De- benture Balances Deferred Revenue - Land Sales Acct. Investment in Capital Assets The current operations of the Town for the year ended December 31,-1962, resulted in an excess of Revenue over Expenditure of $44,563.17. Details of these operations are shown on Schedule No. D. The tax roll was audited to the extent we deemed sufficient with respect to the account- ing for current taxes collected. The tax ar- rears collections were examined and the sub- sidiary ledger was agreed with the control accounts. ‘ SSJ:MM :63 Tax arrears verification letters have been sent to all taxpayers shown by the records to have been in arrears of taxes at December 31, 1962. No difierences have arisen from the replies received. GENERAL. The assessment roll was checked for math- ematical accuracy but no attempt was made to ascertain whether all taxable property in the Town was included in the assessment roll. (2) The audit has been conducted in ac- cordance with the instructions of the Depart- ment of Municipal Affairs. (3) The financial statements present fair- ly the financial position of the municipality as at December 31, 1962 and the results of its operations for the year ended on that date. Yours faithfully, Joscelyn, McBride & Co. Chartered Accountants, 2251. We have examined the surety bond car- ried on the Treasurer and, in our opinion, the amount of the surety is sufficient and the type of bond held is adequate. Debenture Debt Issued and Unmatured Public Utilities & Other Municipal Enterprises Water Supply System $ Electric Light and Power Gas Supply System Street Railway Bus Lines Telephone System Housing Cemeteries Other (specify) Drainage (other than General) Local Improvements Municipality’s Share Owners’ Share Schools Public & Continuation $1,714,900.00 Collegiate & High 430,860.09 Technical & Vocational Capitalized Deficits Hospitals Libraries Parks & Playg’ds $ 36,000.00 Other 128,000.00 May 2, 1963 AUDITOR'S REPORT LIABILITIES $ 356,700.40 590,087.96 $6,729,438.84 946,788.36 $4,227,848.05 $ 164,000.00 2,145,760.09 983,769.45 888,970.43 526,251.91 88,000.00 971,299.60 10,432.14 2,821.41 1,345.45 Total Expenditure Section Surplus for the Year Taxes Receivable (Schedule 5) Less Allowance for uncollectible taxes (Schedule 8) ‘ Property Acquired for Taxes (Schedule 6) Less Allowance for loss on resale (Schedule 8) (Schedule 13) Joint or Special Expenditures County Rates : Police Village Rates Special Area Rates â€"â€" 9,926.03 Provision for Allowances, Reserves and Reserve Funds (Schedule 8 and Form G) 57,808.76 Gross Total Expenditure Deficits from Previous Years Levied for Protection, to Persons and Property Fire 21,: Police 99,2 Law Enforcement 2 Street Lighting Protective Inspection Other (specify) Crossing Guard Pound Expenses MM M “MW C2190) Public Works - Roads, Highways and Streets, etc. Sanitation and Waste Removal Conservation of Health Social Welfare (Schedule 10) Child Assistance Relief Assistance $ Institutional Care $ Welfare Administration $ 1‘ Miscellaneous Bus Expense Meter and Parking Due General Government Executive & Legislative $ Administrative Other Education, including debt charges (Schedule 9) Recreation and Community Services Debt Charges Debenture debt charges (Schedule 11) $ 550,4 Less own share of school debt charges $ 250,4 Institutional and Public Utility Deficits Provided (specify) Waterworks $ Discount for Taxes Taxes written off and Refunds Capital Expenditures out of Revenue Cash on Hand Cash in Bank Investments Dominion of Canada Bonds Other Accounts Receivable Sundry Agreements Due Due Due Due Due Other Assets Deferred Charges Inventories Other (specify) Prepaid Expenses 0.W.R.C. Township 9f Markham Deficit (Form C) Total Assets Guarantee or Contingent Liability (See Report) Total Less Allowance for doubtful accounts Interest and other charges (Schedule 8) from Province of Ontario from Dominion of Canada from Other Municipalities from Schools from Other Local Boards and Commissions (specify) Waterworks Department Hydro Electric Commission from other funds (specify) Reserve for Subdivision Expenditures $ Locél Improvement Levy Advances to be Debentured Reserve Fund O.W.R.C. Capital Account EXPENDITURE $ 202,330.87 $ 6,121.11 $ 3,804.92 $ 550,419.32 $ 250,439.64 $ 7,474.41 $ 299,979.68 $ 5,619.79 ASSETS STATEMENT OF REVENUE AND EXPENDITURE For the year ended December 31, I962 (included in Current Budget $ 50,043.24 Adjustments affecting operations of previous years: (specify) North Yonge Railway Profit Local Bus costs prior years Balance after above adjustments Other transactions affecting surplus Surplus or deficit for the year (Form D) REVENUE FUND SURPLUS (DEFICIT) ACCOUNT _ C December 3|, I962 REVENUE FUND SURPLUS (DEFICIT) ACCOUNT Balance at beginning of year Surplus prideificit M Totals of Debit and Credit columns $ 50,043.24 114,068.68 Balance of Surplus or Deficit at year end (Form B) 13,023.01 55,777.59 90,536.99 21,878.98 99,156.46 139.64 15,087.80 3,675.75 2,125.00 6,348.47 6,596.77 5,233.25 $ 2,267,279.15 $ 44,563.17 ; 2,311,842.32 $2,267,279,15 s 9,331.34 $ 250,514.52 $ 20,573.07 REVENUE FUND BALANCE SHEET December 3|, I962 Actual 202,330.87 200,388.33 972,957.90 57,615.51 307,454.09 511,043.35 159,337.59 178,860.40 159,926.64 166,180.57 110,987.13 20,888.55 29,122.56 31,300.00 1,498.44 2,821.41 14,525.35 4,293.72 10,432.14 14,742.00 9,331.34 2,318.51 1,966.36 1,121.24 5,619.79 6,001.92 $650.00 $ 352,087.44 2,464,590.27 2,464,590.27 2,464,590.27 962,101.96 60,619.00 250,514.52 149,950.00 158,324.00 116,850.00 December 31, 1962 Debit Budget 9,331.34 26,020.00 10,100.00 23,260.00 53,043.24 10,298.99 33,587.20 14,725.86 2,710.66 4,284.87 8,551.00 650.00 162.99 Temporary Loans (Schedule 6) reduce levy Deficit for the Year Total Revenue Section Bank Overdraft Accounts Payable Debentures and Coupons Due Principal Interest Due to Other Funds (specify) Due to Capital Funds Due to Dominion of Canada Other Liabilities Deferred Revenue Deferred Revenue (Schedule 8) Unexpended Debenture Proceeds Licences and Permits (include dog tax) Interest, Tax Penalties, etc. Institutional and Public Utility Surpluses taken into Revenue (specify) Public Library $ 3,127.50 Due to Province of Ontario Due to Other Municipalities Reserves (Schedule 8) Surplus from Prior Years used to Due to Schools Due to Other Local Boards & Commissions (specify) Waterworks Department $ Hydro Electric Commission Surplus (Form C) Total Liabilities and Surplus Total Revenue from Taxation (Schedule 3) Debenture Debt Charges Recoverable (Schedule 12) Contributions, Grants and Subsidies Governments : Canada, Ontario Children’s Protection $ 6,826.81 Direct Relief $ 7,661.54 Health $ 2,726.20 Highway Improve- ment $ 52,675.03 Payments in lieu of municipal taxes Payments to mining municipalities Police and Fire Share of Liquor License Fees Unconditional Per Capita Grants $ 61,117.75 Other (specify) Recreation $ 3,032.24 Winter Works $ 435.11 Other Revenues â€"â€" Rents, Concessmns and Gross Total Revenue Miscellaneous (specify) Other Municipalities County of York Government Enterprises: Canada â€" Grant in Lieu Franchises Fines Service Charges Recreation and Com- munity Services Deferred Revenue - North Yonge Railway $ 2,406.17 Miscellaneous $ 868.50 Ontario â€" to reduce Levies Interest to Reduce Debenture Levy Transient Traders’ Licenses Prepaid Frontage Rates H.E.P.C. Liquor Control Board Credit $ 66,135.91 44,563.17 2,566.04 803.56 $ 16,092.67 $ 64,025.44 Balance 19,462.27 LIABILITIES REVENUE 9,983.00 4,166.20 24,244.13 2,260.86 2,239.18 9,853.34 5,100.00 396.03 500.00 s 2,311,84233 2.4sz $2,261,799.08 2,414,547.03 $ 4,695.93 2,072.26 $ 1,833,664.76 1,807,254.13 200,347.25 404,997.36 134,474.68 126,192.00 9,853.34 9,853.34 17,667.60 104.88 2,275.88 1,096.23 4,500.04 9,908.50 17,388.76 88,893.33 28,297.70 559,64 2,265.71 50,043.24 50,043.24 3,127.50 5,100.00 3,670.70 167.27 870.22 8 8,027.78 $ 352,087.44 150,000.00 75,847.11 28,147.16 27,912.78 64,025.44 5,600.00 9,025.00 14,500.00 2,825.35 8,127.50 5,000.00 131.00 167,27 700.00 8.55