The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Cash on deposit in the various bank ac- counts of the Town and its Boards and Com- missions at December 31, 1966 was verified by direct communication with the various depos- itories. Uncollected tax arrears, penalties and interest totalled $197,877 .65 at December 31. 1966. Details of the individual amounts con- tained in this total are set forth, by years, on Schedule No. 5, together with details of the collection of current taxes and tax arrears for the year ended December 31, 1966. The amount of $1,179,128.74, shown as due to other municipalities, consists of the un- matured principal amounts of the various debenture issues assumed by the Town from the Township of Markham after annexation of a part of the Township, together with the Town’s proportion of the High School debeni tures issued by the County of York and other municipalities, as shown on Schedule No. 2. The total of tax arrears and penalties un- paid at December 31, 1966 shows a decrease of $42,587.32 over the amount outstanding at December 31, 1965. This total of tax arrears and penalties unpaid is equivalent to 7.16% of the 1966 tax roll as compared with an equiv- alent of 10.25% of the 1965 tax roll unpaid at December 31, 1965. The amount of $249,115.59, shown as due from other municipalities comprises the total school debenture debt assumed by the other municipalities comprising the school areas. The details of these amounts are set forth on schedule No. 2. REVENUE FUND BALANCE SHEET. CAPITAL FUND BALANCE SHEET. The amount of $2,404,124.58, shown on the Balance Sheet under the heading of General Fixed Assets. contains the values disclosed by the records for the various municipal lands and buildings, plus additions made to the var- ious capital accounts from current funds. Debentures Assumed by Other Municipalities (Schedule 2) Due from Other Funds (Schedule 17) Other Tangible Assets OWRC Disposal Plant Extension In accordance with the terms of our ap- pOintment, we have audited the books and records of The Corporation of the Town of Richmnd Hill and its Boards and Commissions for the year ended December 31, 1966. We have prepared and submit herewith a Capital Fund Balance Sheet and a Revenue Fund Bal- ance Sheet as at December 31, 1966 and a Statement of Revenue and Expenditure for the year ended December 31, 1966. together with supplementary schedules as detailed in the Index attached hereto. on the forms pre- scribed for the purpose by the Department of Municipal Affairs. We have also prepared Balance Sheets as at December 31, 1966 and Statements of Rev- enue and Expenditure for the year ended December 31, 1966 for each of the Boards and General Fixed (as per Sch. 18) Work in Progress Due from School Ratepayers (for Debentures) Public and Continuation $1,490,538.69 Collegiate & High 1,274,553.24 Due from Utilities and OtherMunicipal Enterprises (for Debentures) Water Supply System 295,376.40 Electric Light and Power System 460.874.84 Public Library Board 30.000.00 Commissions'of the Town, which are included with this report. The Ratepayers, The Corporation of the Town of Richmond Hill, Ontario. We report as follows: ievfieucin CAPITAL AND LOAN FUND BALANCE SHEET DECEMBER 3Ist, I966 ASSETS Richmond Hill, Ontario April 21, 1967. $2,404,124.58 41.41 $7,365,674.37 2,765,091.93 786,251.24 249,115.59 837,141.70 323,907.92 ( 1) The financial transactions which have come under our notice have been within the powers of the municipality. (2) The audit has been conducted in ac- cordance with the instructions of the Depart- ment of Municipal Affairs. Debentures Assumed from Other Municipalities (Schedule 2) Other Long Term Debt Ontario Water Resources Commlsswn Under agreements with The Ontario Water Resources Commission, the municipality has incurred a debt of $396,923.98 covering the construction, maintenance and operation of a sewage disposal work and has incurred a debt of $300,877.10 covering the construction, main- tenance and operation of an elevated water storage tank and a new source of supply. 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., 1966 after deducting the municipality’s equity of $122,415.98, amounted to $575,385.10. Public Utilities and Other Municipal Enterprises Water Supply System 295 Electric Light and Power 46( Temporary Loans Due to ther Funds - Schedule 17 Investment in Capital Assets Current tax collections for the year ended December 31, 1966 amounted to $2,617,- 960.34. This collection of current taxes is equivalent to a collection of 94.7 96 of the current tax roll as compared with an equiv- alent of 93.86% of the 1965 tax roll collected at December 31, 1965. The tax roll was audited to the extent we deemed sufficient with respect to the account- ing for current taxes collected. The tax arrears collections were examined and the subsidiary ledger was agreed with the control accounts. 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. 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. SSJ:DC:67 Debenture Debt Issued and Unmatured General Libraries $ 3000000 Other 109,000.00 Community Centre 23,000.00 Schools NOTE: Guarantees or Contingent Liabilities (Schedule 16) > (3) The financial statements present fairly the financial position of the municipality as at December 31, 1966 and the results of its opera- tions for the year ended on that date. Local Improvements Owner’s Share It should also be noted that a current bank loan was owing by the Separate School Board at December 31, 1966 contrary to the provis- ions of Section 100 of The Schools Administra- tion Act. The current operations of the Town for the year ended December 31, 1966, resulted in an excess of Revenue over Expenditures of $118,731.87. Details of these operations are shown on Schedule No. “D”. It should be noted, that no fidelity bond was carried on the secretary-treasurer of the Public Library Board. which is contrary to Section 32 of The Public Libraries Act. GENERAL. Tax arrears verification letters have been sent to all taxpayers shown by the records to have been in arrears of taxes at December 31, 1966. No differences have arisen from the replies received. Public and . Continuation 1,538,700.00 Collegiate & High 303,945.06 TOWN OF RICHMOND I-III.I. We hereby report that~ in our opinion: LIABILITIES Joscelyn, Laughlin, Franklin, Tucker & McBride, Yours faithfully, Chartered Accountants, 3049. Total 295,376.40 460,874.84 AUDITED FINANCIAL STATEMENTS & AUDITORS' REPORT »$ 162,000.00 $7.365.674.37 1,842,645.06 ‘ 756,251.24 3,639,011.88 1,179,128.74 1,339.65 1,394,009.00 878,115.58 575,385.10 576,800.00 Contributions, Grants and Subsidies Governments : Canadaâ€" Ontarioâ€"â€" Welfare Assistance $16,675.58 Health 967.50 Highway Improvement 60,649.79 Police and Fire 1,296.38 Share of Liquor Lic. Fees 2,196.44 Unconditional Per Capita Grants 73,027.50 Recreation 3,810.24 Community Centre Grant 1,000.00 Licenses and Permits (include dog tax) Interest, Tax Penalties, etc. Other Revenuesâ€" Rents, Concessions Miscellaneous T.T.C. Surplus Surplus Funds Gross Total Revenue Total Revenue from Taxation (Schedule 3) Long-Term Debt Charges Recoverable (Schedule 12) Total Revenue Section Government Enterprises: Canadaâ€" Post Office Surplus from Prior Years used to reduce levy Deferred Charges Inventories Other Assets Prepaid Expenses â€" O.W.R.C‘ Township of Markham Cash on Hand Cash in Bank Accounts Receivable Sundry Taxes Receivable (Sche‘dule 5) Other Funds , Capital Fund Advances Other Municipalities County of York and Franchises Fmes Service Charges Ontarioâ€" H.E.P.C. of Ontario Liquor Control Board Total Province of Ontario Dominion of Canada Other Municipalities School Boards Waterworks Department Hydro Electric Commission Industrial Lands Reserve for Future Expenditure Civic Improvement Committee 2,587.00 Sundry 1,027.84 Planning Board Fees 175.00 Committee of Adjustment 1,230.30 Total Assets Local Improvement Levy STATEMENT OF REVENUE AND EXPENDITURE FOR THE YEAR ENDED DECEMBER 3lst, I966 REVENUE FUND SURPLUS 0R DEFICIT ACCOUNT DECEMBER 3lst, I966 Totals of Debit and Credit columns Surplus for the year (Form D) Balance of Surplus or Deficit at December 31, 1966 (Form B) Balance at January 1, 1966 Surplus included in Current Budget REVENUE 14,171.00 9,961.45 27,368.56 35,987.17 10,796.88 ASSETS 4,434.60 2,840.92 6,752.00 3,181.86 6.178.60 $3,362,408.61 $3,680,416.55 $2,760,801.34 $2,729,719.47 3,272,459.16 3,362,408.61 3,680,416.55 159,623.43 180,627.80 Actual 89,949.45 35,987.17 51,501.01 25,177.48 122,245.0 197,877.65 8,954.05 35,759.36 6352.00 7,275.52 18,688.85 Guarantee or Contingent Liability (See Report) 1,710.57 1,710.57 1,339.65 1,683.95 278.22 1,498.44 REVENUE FUND BALANCE SHEET DECEMBER 3lst, I966 635.00 $ 122,880.02 $ 381,040.48 3,590,467.10 479,503.17 218,027.50 197,877.65 Budget I966 89,949.45 10,400.00 27,000.00 35,987.17 53,046.00 24,283.79 20,187.29 6,500.00 6.000.00 3,512.41 3,086.52 1,710.57 1,339.65 1,962.17 7,855.69 50.00 468.51 110.00 THE LIBERAL. Richmond Hill, Ontario, Thursday, May. 25, 1967 $ 89,949.45 $ 89,949.45 Gross Total Expenditure Surplus for the Year Total Expenditure Section Public Worksâ€" Roads, Highways and Streets, etc Sanitation and Waste Removal Conservation of Health Social Welfare (Schedule 10) Welfare Assistance 2: Institutional Care Welfare Administration 2 Capital Expenditures out of Revenue (Schedule 13) Joint or Special Expenditures County Rates 396,920.49 Conservation Authority 12,412.81 Provision for Allowances, Reserves and Reserve funds (Sch. 8 and Form G) Education, including debt charges (Schedule 9) Recreation and Community Services Debt Charges Long-term debt charges (Schedule 11) 647,856.97 Less own share of school debt charges 320,875.91 Taxes written off Deficits & Levies provided Waterworks Debit General Government Miscellaneous Deferred Revenue 9,921.16 Local Bus Expense - Net 11,500.00 Retarded Children’s Protection to Persons and Property Fire 24,316.01 Police 179,269.88 Law Enforcement 6,156.98 Street Lighting 25,234.87 Protective Inspection 8,103.58 Other Dog Control 6,593.53 Traffic Lights 42.86 Accounts Payable Deposit Performance Bond Reserves (Schedule 8) Surplus (Form C) Total Liabilities and Surplus Deferred Revenue (Schedule 8) Authority Parking Lot EXpense - Net Executive & Legislative $ 16,761.74 Administrative 60,056.22 Other 61,843.74 Short-term interest and other charges Transient Traders Licenses Sundry Credit $ 89,949.45 $ 208,681.32 118,731.87 EXPENDITURE LIABILITIES 327,481.06 25,347.20 513.49 2,000.00 $ 118,731.87 3,469.49 2,821.83 2,908.16 5,362.55 Balance 5‘; 138,661.70 $ 171,309.00 $3.362.408.61 $3.680,416.55 3,243,676.74 118,731.87 1,448,711.57 97,843.26 249,717.71 330,950.55 2,819.00 409,333.30 404,613.19 209,570.78 157,112.07 2,529.60 Actual 82,505 27,151.15 53,547.24 5.362 7,860.69 $ 27,074.07 46,038.12 4,649.18 6,000.00 178,547.24 118,731.87 1,429,673.44 99,935.00 3,680,416.55 $381.040.48 253,570.00 319,124.60 182,468.00 2,520.00 628,477.54 2,000.00 Budget 25,900.00 84,044.16 17,871.83 53,547.24 5,362.55