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AUDITOR'S REPORT Municipality TOWNSHIP OF TERRACE EAY° STATEMENT OF REVENUE AND EXPENDITURE for the year ended December 31,1974 TOWNSHIP OF TERRACE BAY THE MEMBERS OF COUNCIL, INHABITANTS AND RATEPAYERS OF THE CORPORATION OF THE TOWNSHIP OF TERRACE BAY, TERRACE BAY, ONTARIO. We have examined the 1974 financial statements of the Corporation of the Township of Terrace Bay and its local boards, which are listed in the attached index. Our examination included a general review of the accounting procedures and such tests of accounting records and other supporting evidence as we considered necessary in the rcumstances. In our opinion these financial statements present fairly the fina ial position of the Corporation of the Township of Terrace Bay and its local boards as at December 31, 1974 and the results 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. A Thunder Bay, Ontario, Thorne Riddell & Co., June '10, 1975; Chartered Accountants. Licence No. - 009 Accumulated net revenue (deficit) at the beginning of the year Expenditure (notes 1 and 2) General government Protection to persons and property Transportation services Environmental services Conservation of health Social and family services Recreation and community services Community planning and development Financial expenses Region or county -- share of expenditure Education Other Revenue Taxation Contributions from other governments' Other Accumulated net revenue (deficit) at the end of the year Analysed as follows: General revenue Special charges Special areas Police villages 1974 $ 6950 48,501 74,374 40,087 18,695 69,392 22,407 122,737 6,109 1,17 380,370 TEA) 1973 $ G0 ie . bi, 0H . 61,998 37,543 . 25,148 . - 75783 ge . 100,665 : 332 . + 16,765 + 390,616 [706,884 639,006 97,810 13,677 750,453 The accompanying notes are an integral part of this financial statement. 3