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Page 11, News, Wednesday, June 15, 1988 CONSOLIDATED STATEMENT OF OPERATIONS Year ended December 31 1987 1987 1986 Budget Actual Actual SOURCES OF FINANCING Taxation and user charges Residential and farm taxation $ 321,394 $ 321,673 $ 276,599 Commercial, industrial and business taxation 1,066,631 1,067,404 926,247 1,388,025 1,389,077 1,202,846 Taxation from other governments 45,499 49,888 42,222 User charges 290.319 _ 326.621 -- 272.586 1.723.843 1,765,586 1,522,754 Grants 9,300 5,000 5,000 Goverment of Canada 689,247 652,971 683,252 Province of Ontario 18,000 15,964 21,212 Other Municipalities Other ; Investment income 30,000 37,403 55,467 Penalty and interest on taxes 6,000 10,201 8,694 Sales of equipment, etc. 6,415 9,041 4,096 Other 1,303 806 687 --43.218 --aL451_ --68.944 Net appropriations from reserves and reserve funds 5,043 MUNICIPAL FUND BALANCES AT BEGINNING OF YEAR (note 2) To be used to offset taxation or user charges 24,457. 24.373 -45,000 Tota! financing available during the year $2.513.608 $2,521,345 ~4£2,346,162 APPLIED TO Current operations (note 5 &7) General Government $307,712 $322,771 $306,839 Protection to persons and property 444,439 464,017 404,341 Transportation service 443,102 487,578 485,279 Environmental services 161,587 153,274 148,603 Health services 17,744 17,171 16,757 Social and family services 119,637 107,760 ; 77,961 Recreation and cultural services 564,352 573,069 §78,927 Planning & development ----200 _1,656 18,504 2,058,773 2,127,296 2,037,211 Capital General government 44,000 15,073 11,974 Protection to persons and property 25,975 23,056 21,736 Transportation services 230,027 70,196 41,840 Environmental services 76,083 52,542 5,425 Recreation and cultural services --78,750 53.860 126,594 454.835 214.727 207.569 Net appropriations to reserves and reserve funds _ 222,506 77,009 MUNICIPAL FUND BALANCES AT END OF YEAR (note 2) To be used to offset (to be recovered from) taxation or user charges --_---- (43,184) 24,373 Total applications during the year $2,513,608 $2,521,345 $2,346,162 TRANSACTION FOR SCHOOL BOARDS : 1987 1986 "Taxation and user charges $1,786,947 $1,815,733 *Grants Zs : 1,046 1,036 *Other revenue 1,333 9,790 . *Requisition paid 1,788,220 1,787,641 YEAR-END BALANCE OF FUNDS UNDER ADMINISTRATION 1987 1986 "Trust funds , ~ : $19,439 $18,019 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 1987 1. The 1987 financial report consolidates the operations, assets and liabilities of the Township and its local boards and municipal enterprises as follows: Terrace Bay Public Library Board and the Terrace Bay Recreation Committee. 2. -- The local boards, enterprises and other entities of the Township whose revenue and expenditures have not been consolidated in the 1987 financial report are District of Thunder Bay Home for the Aged, Thunder Bay District Health Unit, North Shore Family Resource Centre, Emergency Measures Organization and Township of Terrace Bay Electrical Utility. 3. | The above data has been extracted from the audited 1987 Consolidated Financial Report of the Township and its local boards as described in Note 1. Copies of the 1987 Consolidated Financial Report and the auditor's report there in or the audited financial statements for the local boards, enterprises and other entities not consolidated (see note 2) are available at the Township Offices to any resident who wishes to review or analyze the financial operations of the Township to greater detail