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Q Wgurloo Chronicle Thunder, Jul! 8, 1971 ASSETS Cash Accounts receivable Taxes receivable Other current assets Capital outlay to be recovered m future years CAPITAL OUYtAY Capital oxpendmue Protection to persons and property Public works . Sanitation and waste removal Conservation of health Recreation and community services Community planning and development Transfers mothers CAPITAL FINANCING Long term liabilities Incurred Contributions from other governments Contributions from the revenue fund for Unfinanced capital outlay at the beginning of the year capital expenditure Contributions from reserve funds and reserves Other Unfinanced capital outlay at the end of the year Total current assets Total assets STATEMENT OF CAPITAL FUND OPERATIONS TOTAL CAPITAL OUTLAY TOTAL CAPITAL FINANCING Population Total Taxable Assessment Per Capita Taxes Current Tax Levy Per Capita Current Taxes Collected ', of Current Levy Arrears Collected Total Taxes Collected ', of Total Tax_l.evy Accumulated Tax Arrears Per Capita Debt Oblugauons Public Schools Trunk Sewers & S T P Local Improvements Public Utilities Secondary Schools General Assumed Debt _ Hospital Assumed Debt . County " W " (' Llabllgly Gross Debt Iuabmtv Per Captia Less P U C & School I)?!" Net lkhmlun- Debt Per (‘aplla COMPARATIVE FINANCIAL STATISTICS CONSOLIDATED BALANCE SHEET 11.397215 12.218.367 12.22523 '2.836.972 It 3.696.871, 2.444.894 13.298 1 960.834 L945 .796 107.215 I.537.750 21 A89 8.326 68.979 135.929 170.290 205,649 103.820 82l.162 303.690 1.192.368 178.986 593.517 261 .509 836.695 2.030.933 325 .233 320.420 211.101 201.439 593.517 1970 1,834 1970 11A86.064 4.028.879 21.236 446,615 160.33% 111.003 739.164 292.766 171.633 951.722 222.163 2238.500 25 1.217.7ikT33 100459931 I.573.000 oo 4.3353119? [45.01 4.167.013v90 96 ll 136A46.80 4.303.460 70 162,000 oo 2.343.87138 129.968 56 146A22 80 555.848 87 9.37l.9]8 00 313 50 3.973.500 25 SIM!” 75 29.894 72.906A7s 2.43833 201 .355 A3 6 74 Temporary loans v-- Accounts payable and accrued liabilities Other current liabilities _ i _ T LIABILITIES Taxation Contribution from other governments Other ,. v-rr-, _. T.VT.V _., Net long term liabilities (notes 5 and 7) Reserves and reserve funds "tote 8 t Unappmpriated balances _ E3tPEMDtTUttE (notes I and 3) Generalgovemment ., .. F.VV Fr -, Protection to persons and property a a . T Public works...,..., w-Pr _ __. _ Sanitation and waste removal _ _ . . . . r r _ Conservation of health _ VV . l _ V... V Social and family services T _ ., . _ Recreation and community services _ V Community planning and development Financial expenses (note2t _ _ T . T a Education qrv TT ___ _ T _.. REVENUE TOTAL EXPENDITU RE TOTAL REVENUE Excess of revenue over expenditure for the year ( Excess of expenditure over revenue for the year) Surplus at the beginning of the year _ _ _ _ .. .. ... Surplusat theendoitheyear .-rF.t' ,_____ 18058 STATEMENT OF REVENUE AND EXPENDITURE Total current liabilities Total liabilities ”1553.838 00 370 88 5.560.475 oo 6193.363 00 5.039.138.38 160 37 4.9331510!) 9789 155945.88 518899638 100.99 156.86C88 4.99 2.718.475 00 1.193.014 00 MEGAN 00 1,874.000,00 968.000 00 3.075.122 00 31.422 Ti.l 14.920 2,454.17 110.247 00 47699000 140.996 00 517.524 tyir "5.35300 CITY or WA1llrlEllltlLoO 1967 I93 92 5,858,271.06 179.56 5.786.755,75 98.78 125270.15 5312,0590 100.92 1%.97243 12.747,30l oo 390 72 157623300 L2N.710.00 1JE3.96C00 2m3.00l00 9g7,000.00 4.010.05000 476990.“) 5526233 00 7221.068“) 32.625 81.756,120 2.3594 221 33 H.20l .292 58 425_84 5.474.763 58 8.735% 00 261 67 630117858 203.97 6.666.t30.18 2,424,763,583 1,385,370 00 HBSJXXHX) 2.166,000,00 884.000 00 4.601151% 81l.913 00 75di87.52 8.742.017 .70 99. ll 173,106.48 5.19 87,34,275 2.61670 83899500 For The Year Ended Dbcomber " 1970 14.300.820.65 412.83 5.333.653G6 836116699 6.692,694.38 193.20 6.516,967.35 97.37 130972.31 6,647.939.66 99.33 2.3715366 l 363134.48 1.hi8,000,00 2228,600,00 838,000,00 {55.20193 992,990.00 50.064.00 777 770.58 34,641 93,523,985 2.69930 FINANCIAL STJATEMENTS 217361.21 (With comparative tigures for the you 1970 25886 H.064 .766 667.25 V 52.622 12.218 ,367 12,225 .23 7,149,954 7.011108 1.181.935 882.234 8.896.401 8.338.435 _ _313.955 1.M8.0% 1.510.368 . _658.ilr? ..2l3.959 _237.332 3.917.997 1697.873 H3185 218.” 72.349 433.743 l970 I970 564.512 457193 228,818 1 21.596) 14,218 _52,622 10,763,529 8.335.696 341.359 1.149.419 1.235.975 552.853 123.557 121.1117 539.5711 231.274 3.791.287 447.119 1969 99,517 74.218 1969 52.739 21.479 74.218 7. LIABILITIES PAYABLE IN FOREIGN CURRENCIES . “ABILITY FOR VESTED SICK LEAVE BENEFITS Under the sick leave benefit plan, unused sick leave can accumulate and employees may become entitled to a cash payment when they leave the municipality's employment. The liability for these accumulated days. to the extent that they have vested and could be taken in cash by an employee on terminating. amounted to $227.000 at the end of the year Although an amount of 347.000 has been provided in respect of this past service liability and is reported on the Consolidated Balance sheet it is the normal practice of the municipality to expense these costs in the year payment is made .GES FOR NET LONG TERM UAIILIYIES Total charges for the year for net long term liabilities were as follows Ptincipalpayrnettts ._. .. ....rrrF____ 'rrF__ __ .. Contributions to sinking funds and to the debt retirement fund of Ontario Water Resources Commission T _ Of the total charges shown above. an amount of 31.303146 was paid from the general revenues of the mun- ieipaiity and is included in expenditure, classified under the appropriate functional headings. and an a- mount of $33,713 was recovered from the municipal enterprises for which the related net long term lia- bilities were incurred. Interest PROVISION FOR RESERVES Provision for reserves amounting to 320.000 are included in the Statement of Revenue and Expenditure. classified under "Financial expanses". CONTRIBUTIONS TO RESERVE FUNDS Contributions to reserve funds amounting to 836.815 are included in the Statement of Revenue and Expen- diture. etassified under the appropriate functional headings. Total long term liabilities incurred by the municipality and outstanding at the end of the year amount to _ _ i ' _ _ . In addition. the municipality has assumed responsibility for the payment of principal and interest charges on certain long term liabilities issued by other munici- palities. At the end of the year the principal amount ofthisliabilityis __.._M_Pr.'. ___...r.._._'__""'_"'"_ Of the long term liabilities shown above. the respon- ibility for payment of principal and interest charges has been assumed by others for a principal amount of . _ The total value of sinking funds and the balance in the debt retirement fund of the Ontario Water Resources Commission which have been accumulated to the end of the year to retire the outstanding long term liabilities inctudedaboveamountto-----, .fm liabilities issued by the municipality. and reserve funds as investments, amount to . T a _ _ _ In prior years, the financial statements included a separate balance sheet for each of the revenue fund. the capital fund and all reserve funds of the municipality. At December 31. 1970. the assets and liabilities of these funds are presented in one consolidated balance sheet and the 1969 figures, included for purposes of comparison. have been restated to conform to this change in presentation. Trust fund assets administered by the municipality. amounting to 3114.190. have not been consolidated nor have the assets and liabilities of any local boards of the municipality. BASIS OF CONSOLIDATION AND CHANGE IN ACCOUNTING PRESENTATION NET LONG TERM LIABILITIES Net long term liabilities at the end of the year Some capital outlay does not represent a burden on g 1 municipal revenues as it is to be recovered in years from other sources: 11 charges on benefitting landowners T _ Municipalenterprises ttrF__r _i_qtt_rrrr_ TVqqV Included in "Net long term liabilities" is an the basis of $1 Canadian being equal to 81 US CAPITAL OUTLAY TO BE RECOVERED m FUTURE YEARS Docent“ 31, 1969) (Not. Bl NOTES TO FINANCIAL STATEMENTS is an amount of $1377.000 payable in US dollars and recorded on “3.646.000 $1,596.54 $11,064.766 13.1mm“ $2.657 .135 $2.228,600 34.885995 (131,000) 1.043154 t388,274) 796.106 111.909 688.759 To the Inhabitants and Ratepayers of The Corporation of The City of Water- loo: We have examined the consolidated balance sheet of the Corporation of the City of Waterloo as at December 31. 1970 and the statements of rev- enue and expenditure and capital fund operations for the year then ended. Our eitamination included a general review of the accounting records and other supporting evidence as we con- sidered necessary in the circumstanc- es. April 2, 1971 In our opinion these financial state- ments present fairly the financial position of the Corporation of the City of Waterloo as at December 31. 1970 and the results of its op- erations for the year then ended. in accordance with accounting prin- ciples generally accepted for On- tario muncipalities applied on a basis consistent with that of the preceding year after giving retroactive effect to the change in accounting presenta- tion explained in note 4 to the fin- ancial statements. ira_teripoittrgnpht. Thur 100IT0lts' REPORT CLARKSON. GORDON & CO. Chartered Accountants. Licence number 3818 ,Juiy8 197t 2