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The Municipality has signed agreements with the Ontario Water Resources Commission to provide a Deep Well System in Water Area No. 1. The liability at December 31st 1966 of $698,517 represents the total cost of the pro- jects 'less the Municipality’s equity in the system at December 31st 1966. The Municipality has agreed to pay to the O.W.R.C. amounts of principal each year for thirty years after date of completion of pro- ject, so as to provide a fund sufficient to retire this liability. Total The Municipality has also signed agreements with the Ontario Water Resources Commission for the construction of sewers. The liability at December 31st 1966 of $688,855 represents the total cost of the projects to date less the Municipality’s equity in the projects at Dec- ember 3lst 1966. Long Term Debt - Ontario Water Resources Commission, $1,387,372 Water system __ ___________________________ _ 698,517 Sewers ___._._____ ________ _ 688,855 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. The revenue from taxation compares with previous years as follows: 1966 _______________________________ $3,001,496 1965 ______________________________ 2,322,343 1964 ________________________________ 1,980,031 1963 ________________________________ 1,917,245 1962 ______________________ 1,568,333 The taxes receivable including penalties on the current year’s roll are $373,406 at Decâ€" ember 3lst 1966 as compared to $218,481 at December 31st 1965. The collection of the current year’s taxes, including penalties rep- resents 87.6% of the total 1966 tax roll includ- ing penalties as compared to 90.5% at Dec- ember 31st 1965 on the 1965 tax roll. The total collection in the year of 1966 taxes, arrears of taxes for prior years and penalties represent 94.8% of the 1966 tax roll. We submit the following comments upon certain of the items appearing in the balance sheets: Work in Progress, $425,585 The account is summarized as follows: Watermains 1 Parks and Recrea-tidiiin---_--_____..___-_-_-_ Public Works _ ___________________ 1 REVENUE FUND BALANCE SHEET Due from The Province of Ontario, $232,384 The account is summarized as follows: Welfare subsidy _.____._ _______ __ 2,983 Road subsidy ‘_ ____________________________ 228,353 Sundry _--.-__..--____-_--___-_--.____. 1,048 March 31st, 1967. To the Reeve, Members of Council and Rate- payers of The Municipal Corporation of the Toyynship of Markham. We haâ€"ve examined the books and records of the Township of Markham and its local boards for the year ended December 3131: 1966. We report on the financial statements of the Township as follows: RESULTS FOR THE YEAR The details of this account, and comparison to the 1966 budget are shown on the statement of revenue and expenditure. TAX ROLL AND TAX COLLECTIONS CAPITAL AND L'OAN FUND BALANCE SHEET Revenue ........................ Surplus of prior year used to reduce levy _ ________________ Total __ Expenditures Surplus for year Fixed assets __. Work in progress ._-~--_-__~-_____________-~_~_._-____. Due from schools for debentures Due from Water Area No. 1 for debentures ........................... Due from other municipalities for debenture debt assumed Due from other fund â€" Water Area No. 1 re 0.W.R.C. debt Accounts receivable Ontario Water Resources Commission (see audit report) Temporary loan Accounts payable ________________..___.__ Due to Trust Fund _ __._____.__ Due to Revenue Fund _________.______ Investment in capital assets __ Debenture debt issued and unmatured: General ________________________________________________ Local Improvements Public Schools _ High Schools . _______‘___-“__ Water Supply System Due to other mudiéiiiiiifiiéfié?EiéBEBEEEEEiéBEEgéHHiEEi Long Term Debt: Publication of the above Audited Financial Statements and the report of the Auditors thereon, pursuant to Section 223 (a) of the Municipal Act. S. T. RUMBLE, Reeve E. A. BARTON, Treasurer CAPITAL AND LOAN FUND BALANCE SHEET DECEMBER 3lst, I966 ASSETS Total $ 135,698 3,798,036 3,662,338 3,772,427 $232,384 $1,387,372 $425,585 25,609 182,148 70,871 172,566 LIABILITIES CORPORATION OF THE TOWNSHIP OF MARKHAM The deficit on operations is being financed by a temporary loan to the extent of $3,000. We have seen no approval from the Ontario Mun- icipal Board authorizing the Centre to borrow in this manner and to repay the loan out of the revenue of future years. The Community Centre reduced the loan in 1966 by $1,350. Subject to The operations for the year show a surplus of $1,599. The deficit account at December 315’: 1966 is $2,405 as compared to $4,004 at December 3lst 1965. The fund is committed to an expenditure up to $341,180 as approved by By-Law 2257. The lot fee monies as described in the By-Law are to be used for a portion of the cost of Park land and building, Township library site and building, and Municipal office building addi- tion. The Fund at December 31st 1966 has advanced $70,821 towards the cost of these projects and on completion of the projects the Lot Fee Fund is to be charged with a portion of the final costs up to the amount of $341,180: The Township has expropriated a parcel of land for a park site in addition to the one noted above. The final cost of the site is not known as settlement is subject to arbitration. The original appraisal of this property was $5,000, however, it is indicated that further appraisal, which is forthcoming, may be sub- stantially higher. A resolution of Council di- rects that the purchase price of the property is to be paid out of the Lot Fee Fund if suffic- ient funds are not available in the Planning Act fund. ' The balance on hand in the surplus account at December 3151: 1966 is $18,641 as compared to $14,603 at Dwember 3151: 1965. VICTORIA SQUARE COMMUNITY CENTRE This account represents funds received under subdivision agreements to cover future engin- eering and supervising costs pertaining to the subdivisions. TRUST FUNDS Lot Fee Fund The balance on hand in this account at Dec- ember 3lst 1966 is $219. The fund decreased after purchasing land at a cost of $36,770. The net reduction in the year after investment in- come is $33,760. Notices showing the balance of arrears of taxes owing at December lst 1966 and re- questing that any differences be reported di- rectly to us were mailed to all taxpayers in arrears. We also made a similar test of the unpaid current taxes on that date. All dis- crepancies reported to us were reconciled to our satisfaction with the Township records. The balance on hand in this account at Dec- ember 3lst 1966 is $404,397. This fund in- creased during the year by $137,642.“ Planning Act Section 28 CROSBY MEMORIAL COMMUNITY CENTRE (a) the lack of authority for the Victoria Square Community Centre Ioan we hereby report that in our opinion (1) The financial transactions which have come under our notice have been in the powers of the Municipailty (3) The financial statements present fairly the financial position of the Municipality as at December 31st 1966 and the results of its oper- ations for the year ended that date. Date of filing with Department of ‘ Municipal Affairs - March Blst 1967. The operations for .1966 show a surplus of $4,038. (2) The audit has been conducted in accord- ance with the instructions of the Department of Municipal Affairs Deposits for Specific Purposes, $82,200 Taxes Receivable, $542,183 We report on sundry local boards as follows: _ 25,950 _ 249,065 2,337,868 - 500,300 ,_ 524,908 Chartered Accountants. License No. 3240 EDDIS & ASSOCIATES S 7.509.118 8 7,509,118 AUDITED FINANCIAL STATEMENTS 8. AUDITORS REPORT 1,648,511 425,585 3,875,612 517,242 343,288 3 6 8,091 ,373,066 3 1 1,387,372 149,500 4,026 70,821 201,600 684,642 698,517 363 Due from the Province of Ontario Due from other municipalities Due from other funds: Water Area No. 1 ____________________ Capital and Loan Fund -._.*__ Lighting Area ................... _ Garbage Collection Area ._._._..-_ Taxes receivable: Current tax roll ___________ Arrears - 1965 .............. - 1964 ________________ - 1963 and prior Cash _______________________ Accounts receivable Prepaid expenses â€" O.W.R.C. interest Revenue from taxation Debenture debt charges Grant in lieu of taxesâ€" Hydro-Electric Power Commission Receipts from Other Municipalities: Relief _____________________________________________ _ City of Toronto agreement recovered _______________________________ Province of Ontario Subsidies: Relief and Welfare _______________ Highway improvement _______ Police and Fire _______________________ Share of Liquor license fees Payments in lieu of taxes Per Capita grant __: ________________ Sundry ___________________________________ Licenses and Permits: Dog _________________________ Hunting ________________ Building permits Catering licenses __ Septic tank permits Sundry _ __________________ Other Revenues: Rent Interest and tax penalties Total revenue _______________________________ Surplus of prior year used to reduce tax levy Total Less allowance for doubtful accounts Less allowance for uncollectible taxes re Jail Farm __________________ Police radio agreement _. Fines __ _~__-___~_-,____ ___ 10,215 Planning Board ___________________________ 5,744 Committee of Adjustment 3,375 Sewer service charges and rates 46,821 Service charges, sundry W ____________ 255 Public Works _______________________ H 43,533 Sundry income _,e--__4-.h_______ 4,669 Township of Whitchurch re Reduction in provision for deferred revenue ---__-__x_ U.S.S. No. 7 ASSETS REVENUE Balance at credit, December Slst 1965 DEDUCT: ADD: Surplus for 1966 Balance at credit, December 3151: 1966 Surplus taken into 1966 budget to reduce levy STATEMENT OF REVENUE AND EXPENDITURE FOR YEAR ENDED DECEMBER 3lst, I966 15,761 282,079 1,547 1,809 711 54,711 1,029 4,747 1,522 42,509 28,357 5,152 4,200 2,250 966 1,521 1,040 Actual 679 REVENUE FUND BALANCE SHEET DECEMBER 3lst, I966 5 3,798,036 Budget 3,001,496 2,879,000 3,772,427 357,647 172,292 9,669 201,600 125 4,739 373,406 80,808 33,544 54,425 542,183 4,000 145,029 10,031 53,515 30,686 25,609 REVENUE FUND SURPLUS 5,450 400 1,731 $ 3,708,945 I966 5 993.727 3,683,335 5,050 232,384 91 216,133 538,183 923 172,290 504,300 20,000 25,000 72,845 25,610 8,200 1,700 963 THE LIBERAL, Richmond Hill, Ontario, Thursday, April 27, 1967 Bank loan ___________________________________________________ Accounts payable ________-_-.__ Due to other municipalities -_-.-_-._“___._ Due to school boards _______________________________ Due to the Police Village of Thornhill __- Due to the Police Village of Unionville _ Federation of Agriculture ................... _ Municipal Recreation Committee -_._.___ Due to other funds: Sewer Area __.___-_..”._.______.... Thornhilvl Library _.-______.__._ Township Library Board ........ _. Toronto Transit Commission, Bus Line Deferred revenue and prelevies: Local improvement debt charges Schools County ________________________________________________ Roads and bridges debenture ......... Thornhill Police Village Per Capita grant ____________________________________ Sewer Treatment Area _________________________ Debenture prelevy received from other municipality ________________________________ w Deposits for specific purposes -. Reserve for working funds Surplus General Government: Executive ______________ Administrative _‘ Other ____________________ w Protection to Persons and Property: Fire ____________________________ Police Building inspectors __-________.__ Dog control _________________ ___._ Weed cutting ______-_______._-___ Sundry _-_.______--__________.._â€"_e Public Works _______________________ Social Welfare: Relief Institutional care ____________________ Welfare administrator, salary and allowances _____________________ Education, including debt charges Recreation and community services Debt Charges: Principal and interest ____________________ Less Municipality’s share of school debt charges _ _____________ Taxes written off and rebates ______ Capital expenditures out of revenue Other Expenditures: Water Area No. 1 rates 1 Police Village rates ____________ _. ‘ County rates __.________________-_ 41 Lighting Area rate _________ Sundry Area rates ~__..____ Library, Thornhill _____________________ Sewer Area, O.W.R.C. - Contingency Total expenditures Surplus for year _ Total Temporary loan interest Fund ___________________________________________ Sewer Area, sundry operating costs and installations ____________ ~ Provision for working funds $ 135,698 LIABILITIES 135,698 EXPENDITURE 25,609 25,609 Nil 10,383 129,246 66,821 35,866 156,701 19,650 7,453 2,377 2.417 299,625 12,546 627,029 327,404 80,828 21,551 421,236 25,778 31,339 1,130 17,244 5,349 46,301 10,000 2,339 6,081 Actual s 3,798,036 24,932 1,629,843 26,094 3,662,338 135,698 206,450 224,464 588,971 312,171 2,848 2,321 644,244 3,047 6,173 2,512 234 526 1,004- 1,090- 5,405 109 245 1,991 1,498 $ 3,708,945 $ 993.727 27,200 1,555,800 25,100 82,200 105,000 135,698 500,000 3,708,945 234,900 Budget 224,155 710,000 60,615 41,528 28,451 6,226 9,306 311,985 3,000 5,000 11,896 611,805 128 4,929 7,750