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Beginning at 8 pm. tonight in St. Mary’s Anglican Church in Rich- mond Hill, there will be a demonstration on make- up for women. It’s called ‘Barbie’. The OPFAC is in- terested in reaching the single parent for the betterment of themselves and their children. The Richmond Hill â€" Thornhill Chapter of the One Parent Families Association of Canada’s general meeting will be called “Something for the ladies.” RICHMOND HILL â€" Are you a single, female parent? Single parents meet York Centre riding includes Markham and Rich- mond Hill towns plus the Thomhill portion of Vaughan. The nomination meeting will take place Tuesday, April 19 in the Community Centre on Bayview Avenue in Thornhill. RICHMOND HILL â€" Richmond Hill Councillor Bill Corcoran last week announced his intention to seek the provincial Progressive Conservative Party nomination for York Centre. He will be competing for the spot against Kerry Gilmour and Richard Perdue. Seeks York Centre PC nomination Situated North Dufierm Street OFF MAPLE SIDEROAD WE WELCOME BACK ALL OUR OLD CAD- DIES AND OTHER BOYS AND GIRLS 13 AND OVER TO ENJOY A HEALTHY SUMMER AND EARN GOOD MONEY TO HELP YOU THROUGH YOUR NEXT SCHOOL TERM. Please Phone 889-4772 Pro Shop for registration CADDIES OPENING SATURDAY. APRIL 16th MAPLE DOWNS GOLF CLUB Hill Ward 5 Councillor Corcoran . announces intention to run St. Mary’s is at Yonge Street and Markham Road. Sometimes, just being with or talking with someone who has shared many of the experiences of being a single parent can be beneficial’ sometimes, it is being involved in activities together that can put one’s own problems and questions into perâ€" spective. RICHMOND HILL THE SMART MONEY (AID DATSUN Publication of the above Audited Financial Statements and the report of the Auditors thereon, pursuant to Section 224 of the Municipal Act To Members of Council Inhabitants and Ratepayers The Corporation of the Town of Richmond Hill: We have examined the Consolidated Balance Sheet of the Corporation of the Town of Richmond Hill as at December 31, 1976 and the Statement of Revenue and Expenditure and Capital Fund Operations for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests and other procedures as we considered necessary in the circumstances However, no attempt has been made to ascertain whether a“ prOperties in the Town of Richmond Hill CURRENT Cash Accounts receivable Taxes receivable Other current assets CURRENT Temporary loans Accounts payable and accrued liabilities Other current liabilities The accompanying notes are an integral part of this financial statement The accompanying notes are an integral part of this financial statement The accompanying notes are an integral part of this financial statement TOTAL CAPITAL FINANCING UNFINANCED CAPlTAL OUTLAY atthe end of the year TOTAL EXPEN DITURE CAPITAL FINANCING Contributions from the revenue fund Contributions from reserve funds and reserves Long term liabilities incurred Ontario grants Canada grants Other CAPITAL EXPENDITURE General government Protection to persons and property Transportation services Environmental services Recreation and cultural services Planning and development Taxation TOTAL REVENUE ACCUMULATED NET REVENUE AT THE END OF THE YEAR UNFINANCED CAPITAL OUTLAY at the beginning of the year School board purposes TOTAL EXPENDITURE REVENUE General municipal purposes Taxation Payments in |ieu of taxes Ontario grants Other ACCUMULATED NET REVENUE AT THE BEGINNING OF THE YEAR EXPENDITURE General municipal purposes General government Protection to persons and Property Transportation services Environmental services Health services Social and family services Recreational and cultural Services Planning and development Capital outlay to be recovered in future years Other long term assets Accumulated net revenue and unapplied capital receipts Net long term liabilities Reserves and reserve funds Analysed as follows General revenue Special charges Region School boards Local board School board purposes Region or county purposes Taxation Payments in lieu of taxes Region or county purposes IENT OF CAPITAL OF YEAR ENDED DECEM LIABILITIES ASSETS LANCE'SHEET $ 150,393 $ 150,393 $ 137,126 12,013,131 12,289,059 10,825,273 12,159,689 1976 Budget 5,274,356 5,346,727 5,419,846 1 392,260 5,347,583 3,763,236 88,700 667,500 754,920 1,392,048 1 ,392,048 1 ,061 ,920 221 ,995 847,975 1 ,721 ,168 822,149 600 61 ,870 682,169 3,835 3,250 3,835 $ 221,287 $7 150,393 AUDITED FINANCIAL STATEMENT AND AUDITORS' REPORT â€" 1976 31, 1976 OPERATID $ 2,400,181 $ 1,008,672 556,297 1 399,276 947,632 985,553 71 ,91 3 61 [731 $ 9,354,595 $ 9,354,595 $ 8,311,200 $ 253,939 $ 158,864 $ 221,287 $ 21 1,545 3,250 4,036 $ 158,864 $i199,812 1976 1975 ACTUAL ACTUAL 12,218,165 3,965,841 3,465,414 5,309,670 5,055,731 4,618,937 3,032,788 2,587,572 1 ,040,222 4,567 m6 1976 Actua| 2,003,823 1,908,748 3,351,273 5,435,051 5 434147 _l_l_ 5,367,560 1,416,037 5,434,568 3,778,825 106,822 759,089 790,315 1,419,861 1 ,415,973 3,888 1 ,125,701 196,683 746,681 1 ,648,51 2 857,014 550 56,023 221,287 299,227 805,000 338,676 1 8,443 254,931 18,758 3,755 812,964 189,040 952,648 26,658 192,471 736,396 79,084 435 £21 $ 8,311,200 $ 1 30,796 1 7,944 21 2 856 585 $ 1 50,393 10,812,006 4,777,801 1975 1975 Actual 4,504,723 61 8,748 1 507,500 440,864 63,493 532,771 5,022,1 55 1 ,281 ,943 41507908 3,506,028 101,313 741,716 713,868 5,062,925 44,322 208,084 723,51 8 282,178 1 ,050,927 1 ,296 1,257,625 1 257,625 1 ,000,635 189,1 13 678,640 1 574,679 895,041 550 95,000 853,290 6,008 1 50,393 187,897 630,699 67,985 52,798 have been included in the assessment roll or whether properties included in the roll have been properly assessed. Subject to the qualification concerning the assessment roll, in our opinion, these financial statements present fairly the financial position of the Corporation of the Town of Richmond Hill as at December 31, 1976 and the result of their operations for the year then ended, in accordance with accounting principles generally accepted for Ontario municipalities applied on a basis consistent with that of the preceding year. Richmond Hill, Ontario March 9, 1977 License Number 538 Note 8. Note 7 Note 6. LIABILITY FOR VESTED SICK LEAVE BENEFITS The above schedule veflecls actual pnncipal payments requived and do no! veIIect Increases In the Debt Rememem Fund. Note 5 CHARGES FOR NET LONG TERM LIABILITIES Note 9. Note 10. Male 4, NET LONG TERM LIABILITIES Provincial subsidy programmes are on a "recelpl and disbursement" basns which does not recognize accruals. The municnpallly has expended amounts lor Whlch the road subsidy will not be eligible Ior clalm unul the succeedmg year Such tulure subsudy revenues have been accrued In the current year Note 2. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS Null: 3. RESERVES AND RESERVE FUNDS Note l. ACCOUNTING POLICIES (a) Statement 0! Revenue and Expenditure This statement reflects the revenues and expenditures of the revenue lund or ‘hl municipality and includes the activities cl all committees ol council and local board lot general muntcrpal activtties. The local board whose activities :5 included Is Richmond Hill Public Library Board lbl Statement at Capital Operations l1lThis statement reflects the capital expenditures and the related capital linancrng to be recovered lrom general municipal revenues at the municipality and Its local board described in note llal, Total charges for the year lor net long term hablliles were as follows: 01 the total charges above $565,380 were paid ircm geneal mumcrpai revenues oi the munictpallly and are included in expenditure on the "Statement of Revenue and Expenditure" classrlied under the appropriate functtonal headtngs. The remaining $189,804 were recovered horn municipal enterprises for which the related net long term liabilities were incurred, and are not reflected in the statement. THE ANTIVINFLATION ACT From genelal munmlpal revenues Frorn benefiuing landowners From municnpal enterprises Under the sick leave benefit plan, unused sick leave can be accumulated and employees may become entitled to a cash payment on termination cl service, As at December 31‘ 1976 the liability for these accumulated days, to the extent that they could be taken in cash by an employee on terminating amounted to $156,035. $14,209 has been provided against this liability and Is included in the reserves on the Balance Sheet. The munrcrpality, its |ocal boards and commissrons are by agreement between the Governmenr ol Canada and the Government 0! the Province 01 Ontario dated January \3, 1976 subjecr to The Antivlnllarron Act (Canada) and the national guidelines. This Iegrs|alion limils Increases rn compensation payments effective October 14, 1975. The Town of Richmond Hill entered into an agreement in 1973 with the Richmond Hill Hydro Electric Commission lot the transfer to the Town, lor the sum 0| $99,114. all street lighting Installed by the Commission. This amount will be paid over a period of 10 years, with interest at 6% per annum, and the annual charge is reflected In the cost of street lighting serwces. _ Grants-inalieu lrorn Ontario Housing Corporation have not been pro-rated to the other levying bodies to December 31, 1976. Legal opinion on the agreements signed have Indicated that compliance with the Act is manditory and grantyin-Iieu from Ontario Housing Corporation will be prorated commencrng in the 1977 taxation year. There is no eflect on the Total tax liability ol the Taxpayers to December 31 , 1976‘ (b) 01 the net long [arm luablhnes reported In (a) 01 this note $1,548,525 In principal payments are payable 1mm 1977 to 1981, $1,147,500 born 1982 to 1986, $2,153,544 (hereanev and are summanzed as lollows 0. Supplementary unation Act (01 the taxation year 1976, revenue and dis ibuled lo the othel The above does not Include Onlano Wale: Resources Commission liabiliues incurred by the Municipality and assumed by the Reglon 09 York. Reserve funds Future expenditure Section 309 Special sewers Planning Act Section 28 0.W.R.C. Contmgencues Steel signs Hydro Trees Inspection lees Legal and administration Clergy reserve Disaster reserve Water meters Water system Millpond redevelopment Sidewalks Reconstruction oi roads Specific roads Storm sewers Fire equipment Fire buildings Park and recreation lacilities Library buildings Administration buildings Neighbourth improvement program Library board reserves Major park purchase Other park purchase Park development Judges plan Ontario Home Renewal Plan 01 the long term liablllles shown above, the responsibility ior payment 01 principal and Wales! chaiges has been assumed by olhers tor a principal ambunt oi The total value at smking lunds and the balance in the Ministry at the Environment Debt Rettrement Fund which have been accumulated to the end of the year to retire the outstanding long term liabilltles included above, amount to Ne! long germ Inabiliues al the end 0! the year In addition, the municipality has assumed VBSDOHSIblmv lor the payment of principal and interest charges on certain long term liabilities issued by other municnpalities. At the end of the year, the principal amount cl this liability is Transiers to Capital Fund Subdivision cosls O.H.R.PV Loan Forgiveness Total long tetm liabilities Incurred by the municipality Including those Incurred on behalf of immet school boards, other municipalities and municxpal enterprises and outstanding at the end a! the year amount to Pnncipal payments including coflllibullons lo sunklng Iunds and to xhe Mlnlsuv of the Envlronmenl Debt Retiremem Fund Inlevesl (a) The balance for net long term habilities reported on We “Balance Sheel‘ up of the following: The expenditures '0: the year or me Resevve Funds Inn Revenue Fund amounting to $156,000 Whlch are Included In the Expenditure" under othev revenue, and the iollownng were che tunds: (c) The total balance of lesevves and vesevive funds IS 5 3,032,788 and of (he following: Rese'ves Wovkmg funds Elections Reuremenx 0! employees (a) Some capqu outlay to be vecoveved in vulure vea's does "OI represent a burden on general municipal revenues, as it IS to be vecoveled In Mute years horn other soulces: lb) Capital outlays, Including lixed assets and me Iransrers or capital runds m the amount of $192,471 Wthh have been financed Vrom general mummpal revenues or the currenl year, are reported on the “Statement 0! Revenue and Expefldllu'e” (a) Provisrons lor reserves and reserve lunds amounting to $64,058 and $65,403 respectively are reported on Ihe "Statement 0! Revenue and Expendnure" classrhed under the appropriate headings (b) The "Statement of Revenue and Expendllule” doe: fur the year which were credited divecllv (‘0 reselve lunds 1976 Subdiwders' contributions $ 586,652 I‘meve‘st earned 4 151,920 (a) Provisuons lor ldl Fixed assets The historical cost and accumulated depreciation of fixed assets is not reported (or municipal purposes. Instead the "Capital outlay to be recovered In iuture years" which is the aggregate ol the principal portion at unmatured long term liabilities, capital lunds transferred to other organilations, and the cost at capital proiects not yet permanently financed, is reported on the "Balance Sheet". in the "Stalement o" Revenfie and Expenditure" except lo expenditures are recovered from general mun pal vevenues. lgl Trust funds Trustjunds administered by the municipality amount to $289,103 have not in these financial statements (h) Provincial toad subway revenue and expendiluve on roads (e)Municipa| enterprises The vevenues and expenditures lo: municipal enterprise aclivines Debt retirement costs including principal and Interest are charged against current revenues in the periods in which they are paid. Interest charges are not accrued lor the periods lrom the date at the latest interest payment to the end oi the financial year. (dBalance Sheet This statement reflects the assets and Hal tund, reserve funds and the Library Boatd‘ entetptises as defined in note 1(a) are no related net long term liabilities and capital Municipal enlelpvise activities are those activities whose costs are substantially vecoveved from service charges on the users and are as lollows: Richmond Hill Walevwovks Richmond Hill Hydro (0 Charges {or me! long term “abilities l11)The Cunenl Liabilities Translev item Tvust Funds Subdiwders' contributions Interest earned Translevs from Capital fund Tiansier horn Revenue Fund Special chavges on benelining landowners muniupal enterprises long term liabilities reported on t Is statement were incurred by the Region of York on behall of the municipality. Repayment at this debt is the res- ponsibility at this rnuntcrpaltty,- THE LIBERAL. Wednesday. April 13, I977 â€" 91 ,299 21,195 49,757 72,208 23,858 4 000 91 '426 sâ€"ag‘rs‘z , 7 totalling $55,826 undev Section 43 0! (he Assesmenl were no! bi|led until 1977 and are not recorded as levying bodies until1977, 19,163 5 318.390 5 299.227 l 976 $ 433,650 ‘I 8,770 1 00,695 8,756 1 5,267 394,969 3.01 0 1 5,092 1,400 154,578 ‘27fi 301,450 181,037 835,055 I 16.43! 2,155 993 5302 26,710 29204 20,730 6,930 me Reserve Funds include contributions to the 1,050 52,652 anid liabilities oi the revenue iund. ind liabilities or the revenue lund, the capital Board, The assets and liabilities lor municipal are not reflected except to the mutant 0' the capital outlay (o be recovered in future years. are Included In the "Statement 04 Revenue and lollowmg were chavged directly lo the reserve 51548525 $ 1,186,751 1977 NM 214,156 147§18 does not reflect [he lollowmg vevenues REID 8 BRADLEY CHARTERED ACCOUNTANTS 5 1.0011836 51142500 WM. A. RICE, TREASURER 53.1 72 1976 by [he Municipalily 1 982 Hes are n0! vellecled the extent that their 5 2214.945? 255064 S has“ been mcluded 5 298.512 311 226 19g S 188,544 164.94! 852,061 5 12244038 1064642 5,298 S 618,748 69,338 S 1.363.814 3 3 $ 5 comma 1987 and Iheveaher 1,871,396 S 494,722 638 967 18,070 234,626 56,910 25,618 181 ,318 3,010 10,342 2,936 176,893 1,871 738 2,252 22,610 39,417 33,970 6830 834 200 IS made 44,700 L97 5 27,084 27,836 ol the boards $ 505573] 5 2.488.938 (934,404) (159.010) 1660.207