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ESULTS FOR THE YEAR , The statement of operations for the year ummarized as follows: Revenue 2,619,748 Surplus of priofâ€"yeafâ€"osed-{o reduce levy 12,944 The details of this account, and comparison to the 1964 budget are shown on the statement of revenue and expenditures. TAX ROLL AND TAX COLLECTIONS 1 March 31st, 1965. To the Reeve, Members of C0uncil and Rate- payers 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 3151., 1964. We report on the financial statements of the Township as follows: , The revenue from taxation compares with previous years as follows: 1964 _ __________________________ $1,980,031 1963 _________________________ _ 1,917,245 1962 ______________ 1 1,568,333 1961 ________________________________ 1,378,881 1960 ., _ ._ 1,210,988 The taxes receivable including penalties on the current year’s roll are $311,001.21 at Dec- ember 31st 1964 as compared to $340,961.81 at December 31st 1963. The collection of the current year's taxes, including penalties rep- resents 84.2% of the total 1964 tax roll includ- ing penalties as compared to 82.0% at Dec- ember 31 1963 on the 1963 tax roll. mThe total collection in the year of 1964 taxes, arrears of taxes for prior years and penalties _rep_2jes¢_nt 199:2%. of the 1964 .tax roll. . We subrrlit the following comments upon certain of the items appearing in the balance sheets: CAPITAL AND LOAN FUND BALANCE SHEET Work in Progress. $33,713.68 The account is summarized as follows: Paul Street, road extension, prelimina'ry cost 1,583.92 Don Mills watermain construction 9,927.88 Meadowview. Doncaster, Henderson, road and watermain construction Rockwell Road, road construction York Central District High School Board,~ preliminary costs re school site These expenditures are under the authority of the Ontario Municipal Board with the excep- tion of the preliminary costs of the Paul Street extension. Due from Other Funds, $758,116.19 The amount arising from inter-fund trans- actions is made up as follows: Due from Revenue Fund _ a. _ 10,521.92 Due from Water Area No. 1 re liability to Ontario Water Resources Commission _____ ._ 747,594.27 The amount due from the Revenue Fund is made up of the following transactions: Unexpended debenture funds on hand _ __,.._-__________,.«_._ 22,235.60 Deduct: Work in progress . 33,713.68 Less temporary loans ________________________ 22,000.00 11.713.68 The Municipality has signed agreements with with the Ontario Water Resources Commission to provide a Deep Well System in Water Area No. 1. The liability at December 31st 1964 of $747,594.27 represents the total cost of the projects less the Municipality’s equity in the system at December 3lst 1964. Total _ Expenditures Surplus for year Long Term Debt - Ontario Water Resources Commission, $1,475,006.14 Water system .......... ~ 747,594.27 Sewers .m ................ “ 727,411.87 The Municipality has agreed to Total THE LIBERAL, Richnmnd Hill. Ontario, Thursday, May 20, 1965 Fixed assets _____________________________ Work in progress Due from schools for Due from Water Area No. 1 for debentures Due from other municipalities for debenture debt asSumed Due from other funds â€" Revenue fund __________________________ Water Area No. 1 _________ Ontario Water Resources Commission Reserve Fund (see contra) __.__ Debenture Debt issued and unmatured General m____w-,,. _..__._o~_-._.____ Local Improvements .___.__-..____ Public Schools -.____..._._.___ High Schools o.-,-_____._.._.___. Water. Supply System Total ____7_‘ “swam, _.__ Due to other municipalities for debenture debt assumed Long Term Debt: Ontario Water Resources Commission (see audit report) ____- Temporary loan -______._____,.__,.‘-..__w Reserve for renewals, replacements and contingencies - Sewége System Investment in capital assets __.__ CAPITAL AND lOAN FUND BALANCE SHEET DECEMBER 3Ist I964 ASSETS: 22,000.00 11,713.68 $1,475,006.14 2,632,692 2,620,785 $758,116.19 511.901 $33,713.68 Day $10,521.92 12,065.72 9,754.01 382.15 Eb‘RbdRATION OF THE TOWNSHIPOF___MARKHAM LIABILITIES: the O.W.R.C. amounts of principal each year tor thirty years after date of completion of pi‘o- ject, so as to provide a fund sufficient to retire this liability. The Municipality has also signed agreemeuts with the Ontario Water Resources Commissmn for the construction of sewers. The liability at December 3lst 1964 of $727,411.87 repre- sents the total cost of the projects to (late less the Municipality‘s equity in the proiects at December 3lst 1964. AL- The Municipality has agreed to pay the O.W.R.C. amounts of principal each year for thirty years from the completion date of pro. jects, so as to provide a fund sufficient to retire this liability. REVENUE FUND BALANCE SHEET Accounts Receivable. $4,539.14 The account is summarized as follows Weed cutting accounts ____________________ 3,9 Sundry accounts _______________________________ 5 Due from The Province of Ontario. $113,643.61 The account is summarized as follows: Welfare subsidy 7 ______________________ 1,477.98 Road subsidy , 101,901.65 Sales tax recoverable ____________________ 9,416.33 Department of Highways .......... 847.65 Taxes Receivable. $513.555:51 1 uAca new». v uu.-, q”- a ,. ( Notices showing the balance of arrears of taxes owing at October lst 1964 and requesting that any differences be reported directly to us were mailed to all taxpayers in arrears. We made a similar test of the unpaid current taxes and the arrears at December 3lst 1964. All discrepancies reported to us were reconciled to our satisfaction with the Township records. TRUST FUNDS Lot Fee Account you n w‘. Alwyvâ€" The balance hand in this account at Dec- ember 3lst 1964 is $166,663.71. This fund in- creased during the yearrby 43‘5014Q7IAQ. a ,1_ Alwyn 9-“- ._.,- creased during the year by $50,407.49. During the year $100,000.00 of this fund was loaned to the Township at the rate of 4% per annum. This loan was repaid during the year and the total fund at December 3lst 1964 is invested in bank depoAsit _receipts. 334% to u v yuy‘,” 4% per annum, and in a bank savings account. In our opinion, the loan made in the year to the Municipality is not in accordance with Provincial statutes. Planning Act Section 28 The balance on hand in this account is $11,691.16. The fund increased during the year by $5,853.80. 1 1 1,1-..J- .. I‘ll-..mo ya: u" vuyvuvvv v . We report on sundry local boards as follows: CROSBY MEMORIAL COMMUNITY CENTRE The operations for the year show a surplus of $1,971.52 after repaying $5,950.00 of the bank loan. I "Hui..- noun xvuu. The balance on hand in the earned surplus account at December Blst 1964 is $6,061.68. b0] VJ. DLIL A nnnnnnnn 1.. u . . v , (2) The audit has been conducted in accord- ance 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 1964, and the results of its operations for the year ended that date. EDDIS («ASSOCIATES Chartered Accountants. License No. 2800 Date of filing with Department of Municipal Affairs. April 15th 1965. 10,5219 747.5942 95,750.00 1 16,830.17 224,831.75 488,000.00 520,205.45 $5,867,116.18 1,400,754.73 $5,867,116.18 AUDITED FINANCIAL STATEMENTS 33,713.68 2,838,849.33 1,433,843.41 1,475,006.14 22,000.00 510,422.07 317,609.21 ,445,617.37 758,116.19 7.650.97 482,998.29 7,650.97 $113,543.61 $4,539.14 3,954.50 584.64 Cash on hand and in bank Accounts receivable ...... Due Due Taxes receivable: Current tax roll ______________ Arrears ~ 1963 ..___..._ v - 1962 ............ - 1961 and prior Revenue from taxation Debenture debt charges Prepaid expenses - O.W.R.C. interest recovered ..................... _ Provmce of Ontario Subsidies: Relief and Welfare _______ 14,506.36 Highway improvement 308,861.79 Police and Fire ____________ 943.17 Payments in lieu of taxes 847.65 Per capita grant ...... __» 48,605.15 Warble Fly _ _______ .__..... 345.75 Recreation ____________________ 1,848.90 Hydro Electric Power Commission of Ontario Grant in lieu of taxes ._ Receipts from Other Municipalities Relief ___________ 1 City of Toronto agree- Licenses and Permits: Dog ________________________________ Hunting ______________ ._ Building permits Catering licenses ________ __ Septic tank permits __._. Sundry ___________________________ Interest and tax penalties Other Revenues: Fines Planning Board ______ Committee of Total revenue Less allowance for doubtful accounts Surplus of prior years used to reduce the levy ............ Total Publication of the above Audited Financial Statements and the report CHAS. H. HOOPER, Less allowance for uncollectihle taxes from the Province of Ontario from other municipalities _______ from other funds: Water Area No. 1 .................... Lighting Areas .................... rhent re Jail Farm Police radio agreement adjustment ___________ Sewer service charges and rates Service charges __-_.___ Sundry income Interest received â€" County By-Law No. 3138 No. 3067 ________________ REVENUE: AUDITORS REPORT ASSETS: STATEMENT OF‘ REVENUE AND EXPENDITURE FOR YEAR ENDED DECEMBER 3lst I964 Balance at DEDUCT: Surplus taken into 1964 budget to reduce levy ADD: Balance at credit, December 3lst 1964 1,036.02 2,851.96 4,200.00 5,941.85 1,335.00 6,057.50 875.00 576.00 2,166.05 5,77 1,500.00 Reeve Z,b£5i‘ 400.00 3231.66 214.82 583.31 533.77 14.05 Surplus for 1964 REVENUE FUND BALANCE SHEET DECEMBER 3lst I964 credit, December 3lst 1963 311,001.21 131,099.77 37,167.36 34,287.17 513,555.51 1,980,030.80 1,941,000 21,649.56 94.77 $2,632,691.91 $2,476,121 4,539.14 400.00 2,619,747.88 2,463,177 4,000.00 146,175.08 375,958.77 Actual 36,257.08 16,951.40 55,351.34 8,087.98 12,944.03 REVENUE FUND SURPLUS 935.43 I964 $747,601.21 4,139.14 113,643.61 228.29 509,555.51 6.32929 91,961.04 21,744.33 Budget 146,156 301,523 25,000 10,000 34,398 12,944 4,200 900 of the Bank loan . Accounts payable V ,_ Debenture interest coupons due Due to other municipalities Due to the Police Village of Thornhill ______ _ Due to the Police Village of Unionville _. Federation of Agriculture , ____________ _. Municipal Recreation Committee __________ __ Due to the Province of Ontario ____________ __ Due to other funds: Capital and Loan Fund 7 ___________________ _ Thornhill Library , . _______________________ Toronto Transit Commission, bus line Deferred revenue and prelevies: Local improvement debt charges Schools _______________ , ...................... General Government: Executive Administrative Other __ __________ Protection to Persons and Property: Deposits for specific purposes Reserve for working funds Surplus _ _________________________________ Public Works ,,,,,,,,,,,,,,,,,,,,,,, Sanitation and waste removal Social Welfare: Relief __________________________ - ‘ 13 Institutional care ________ 7 Welfare administrator, salary and allowances __________ _ 2 Education, including debt charges _, , Recreation and Community services _____________________ Debt Charges: , Principal and interest... 523,616.03 Less Municipality’s share of school debt charges-.. 270,925.66 Taxes written off & rebates Capital expenditures out of revenue: Administrative “ _______ _ 1,7 Public Works ________________ 4,2 Other Expenditures: Water Area No. 1 rates 66,927.63 Police Village rates ________ 16,471.27 County rates 230,078.47 Lighting Area rate __ 12,312.85 Sundry Area rates 15,261.00 Library, Thornhill 1,085.77 Sewer Area, O.W.R.C. - Provision for Allowances and Reserves : Reserve for working Total expenditures Surplus for year “ Total County __ , _ , _, Roads and bridges debenture Sewer Area , ,_ , V , Garbage Collection Area _____________ _ Thornhill Police Village Per capita grant ________ Debenture prelevy received from other municipality Auditors thereon. pursuant to Section 223(a) of the Municipal Act. E. A. BARTON, Building inspectors Pest control __________ Dog‘ control ........... Weed cutting ______ Temporary loan interest 16,530.95 "Cdfitihgefic‘yrund 6,644.00 Sewer Area, Sundry operating costs ~-_-_-.__--_.~__.,7 1,829.86 funds ., .. Deferred revenue EXPENDITURE: $11,907.16 12,944.03 12,944.03 11,907.16 Nil LIABILITIES: Treasurer 12,460.50 123,860.91 47,684.88 13,357.80 115,435.53 13,070.90 1,179.45 5,985.39 4,689.34 252,690.37 13,483.73 7,389.85 10,000.00 159.11 2,682.85 1,767.31 4,218.50 10,521.92 58.99 1,081.06 3,029.87 2.495.00 1,654.67 31.517.57 1,?“ ‘.“9 2,3 . L13 1,005,729.33 $2,632,691.91 1,498.44 2,620,784.75 11,907.16 580,488.81 21,864.87 184,006.29 153,718.41 269,221.32 5,292.80 Actual 350,610.85 23,556.43 10,150.72 10,159.11 5,985.81 $747,501.21 150,000.00 172,177.54 2,372.54 231,005.69 1,764.51 3,590.72 2,116.70 11.661.97 47,252.40 15,413.51 95,000.00 11,907.16 866.95 2,471.52 Budget $2,476,121 2,476,121 462,046 22,200 195.430 149,995 984,812 259,177 1,500 350,061 22,000 11,900 10,000 7,000