V~,,<f~ i~,zd L-&,.o. Vodden, Bender & Seebach LLP

Transcription

1 Vodden, Bender & Seebach LLP P.O. Box Ontario Street CLINTON, ONTARIO NOM 1 LO Tel : (519) Fa x: (5 19) vbs@vbsca.ca INDEPENDENT AUDITOR'S REPORT To the Members of the Lucknow and District Fire Department Joint Board of Management, Members of Council, Inhabitants and Ratepayers of the participating municipalities We have audited the accompanying statement of operations of the Lucknow and District Fire Department Joint Board of Management for the year ended December 31,2011. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of this financial statement in accordance with Canadian generally accepted accounting principles, and for such internal control as management determines is necessary to enable the preparation of this financial statement being free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on this statement based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statement is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statement presents fairly, in all material respects, the results of operations of the Lucknow and District Fire Department Joint Board of Management for the year ended December 31, 2011 in accordance with Canadian generally accepted accounting principles. V~,,<f~ i~,zd L-&,.o Licensed Public Accountants Clinton, Ontario February 17, 2012

2 LUCKNOW AND DISTRICT FIRE DEPARTMENT JOINT BOARD OF MANAGEMENT STATEMENT OF OPERATIONS For the year ended December Budget 2011 Actual 2010 Actual Revenue Contributions from participating municipalities Township of Ashfield-Colborne-Wawanosh 82,485 65,146 58,439 Township of Huron-Kinloss 71,005 55,666 49,849 Fire calls 10,000 10,600 County of Bruce Modified First Response grant 5,000 5,000 5,000 Other revenue 7,085 6, , , ,627 Expenditure Salaries 78,100 80,704 73,504 Vehicle operation 5,700 10,437 6,152 Equipment 32,000 12,988 12,734 Hyd rant repairs 2,000 2,255 2,255 Building maintenance 4,000 3,041 2,929 Dispatch service 4,300 4,275 4,237 Training 4,300 4,654 2,433 Telephone 2,800 2,120 2,299 Utilities 12,050 10,596 10,218 Insurance 8,000 6,074 7,452 Licences, fees, administration 5,240 5,752 6, , , ,627 Annual surplus $0 $0 $0

3 LUCKNOW AND DISTRICT FIRE DEPARTMENT JOINT BOARD OF MANAGEMENT NOTES TO FINANCIAL STATEMENTS For the year ended December 31, Accounting policies The statement of operations of the Lucknow and District Fire Department Joint Board of Management is the representation of management prepared in accordance with generally accepted accounting principles for local governments as recommended by the Public Sector Accounting Board (PSAB) of the Canadian Institute of. Significant aspects of accounting policies adopted by the board are as follows: a) Basis of accounting I) Accrual basis of accounting Sources of financing and expenditures are reported on the accrual basis of accounting. Revenues are recognized as they are earned and measurable. Expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services and the creation of a legal obligation to pay. ii) The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts reported in the financial statements and accompanying notes. Due to the inherent uncertainty in making estimates, actual results cou ld differ from those estimates. 2. Participating municipalities Participating municipalities are the Township of Ashfield-Colborne-Wawanosh and the Township of Huron-Kinloss. The board conducts its operations using tangible capital assets owned by the participating municipalities. 3. Related party transactions Board administration costof$1,000 (2010: $1,000)was paid to the Township of Ashfield-Colborne Wawanosh.

4 Vodden, Bender & Seebach LLP P.O. Box Ontario Street CLINTON, ONTARIO NOM 1LO Tel : 15 19) Fax: 15 19) vbs@vbsca.ca INDEPENDENT AUDITOR'S REPORT To the Members of the Lucknow Community Health Centre Board, Members of Council, Inhabitants and Ratepayers of the participating municipalities We have audited the accompanying statement of operations of the Lucknow Community Health Centre Board for the year ended December 31, Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of this financial statement in accordance with Canadian generally accepted accounting principles, and for such internal control as management determines is necessary to enable the preparation of this financial statement being free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on this statement based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statement is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation o! the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statement presents fairly, in all material respects, the results of operations of the Lucknow Community Health Centre Board for the year ended December 31, 2011 in accordance with Canadian generally accepted accounting principles. (/~, /f~ i~~? t.-/j Licensed Public Accountants Clinton, Ontario February 17, 2012

5 , LUCKNOW COMMUNITY HEALTH CENTRE BOARD STATEMENT OF OPERATIONS For the year ended December Budget 2011 Actual 2010 Actual Revenue Rentals 16,800 16,800 16,800 Expenditure recovery 4,070 4,270 Contributions from participating municipalities Township of Ashfield-Colborne-Wawanosh 4,218 3,841 1,104 Township of Huron-Kinloss 4,217 3,841 1,104 29,305 28,752 19,008 Expenditure Maintenance 10,750 10,349 7,024 Utilities 5,740 7,263 5,120 Property taxes 5,700 5,295 5,382 Insurance 1,220 1,247 1,182 Administration Building renovation 5,070 4,270 29,305 28,752 19,008 Annual surplus $0 $0 $0

6 LUCKNOW COMMUNITY HEALTH CENTRE BOARD NOTES TO FINANCIAL STATEMENTS For the year ended December 31, Accounting policies The statement of operations of the Lucknow Community Health Centre Board is the representation of management prepared in accordance with generally accepted accounting principles for local governments as recommended by the Public Sector Accounting Board (PSAB) of the Canadian Institute of. Significant aspects of accounting policies adopted by the board are as follows: a) Basis of accounting I) Accrual basis of accounting Sources of financing and expenditures are reported on the accrual basis of accounting. Revenues are recognized as they are earned and measurable. Expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services and the creation of a legal obligation to pay. ii) The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts reported in the financial statements and accompanying notes. Due to the inherent uncertainty in making estimates, actual results could differ from those estimates. 2. Participating municipalities Participating municipalities are the Township of Ashfield-Colborne-Wawanosh and the Township of Huron-Kinloss. The board conducts its operations using tangible capital assets owned by the participating municipalities. 3. Related party transactions During the year, the board paid property taxes of $5,295 (2010: $5,382) to the Township of Huron Kinloss.

7 Vodden. Bender & Seebach LLP P.O. Box Onta ri o Street CLINTON, ONTA RI O NOM 1 LO Tel: 151 9) Fax : 15 19) vbs@ vbsca.ca INDEPENDENT AUDITOR'S REPORT To the Members of the Lucknow and District Joint Recreation Board, Members of Council, Inhabitants and Ratepayers of the participating municipalities We have audited the accompanying statement of operations of the Lucknow and District Joint Recreation Board for the year ended December 31, Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of this financial statement in accordance with Canadian generally accepted accounting principles, and for su ch internal control as management determines is necessary to enable the preparation of this financial statement being free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on this statement based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statement is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation o! the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statement presents fairly, in all material respects, the results of operations of the Lucknow and District Joint Recreation Board for the year ended December 31, 2011 in accordance with Canadian generally accepted accounting principles. (/~, /f~ &./~u/ L- v-" Licensed Public Accountants Clinton, Ontario February 17, 2012

8 LUCKNOW AND DISTRICT JOINT RECREATION BOARD STATEMENT OF OPERATIONS For the year ended December Budget 2011 Actual 2010 Actual Revenue Arena Ice rentals 50,000 56,488 48,356 Arena rentals 14,000 13,118 11,011 Hockey admissions 27,500 26,886 27,943 Hockey and figure skating ice time 86,000 89,487 86,192 Public skating 2,500 1,469 1,429 Advertising boards 10,500 12,050 9,931 Other revenue 4,800 10,599 19, , , ,109 Recreation receipts Hockey program 55,000 62,450 54,875 Figure skating 5,300 Swimming pool 9,000 14,825 9,666 Baseball 16,800 14,665 17,474 Soccer 6,700 8,205 6,750 Day camp 3,575 87, ,145 97,640 Total rentals and program revenue 282, , ,749 Contributions from participating municipalities Township of Huron-Kinloss 137, , ,624 Township of Ashfield-Colborne-Wawanosh 137, , , , , ,247 Total revenue 557, , ,996 Expenses Administration and general Salaries 118, , ,384 Maintenance 32,900 27,362 24,987 Utilities 56,300 70,050 54,637 Insurance 10,500 9,975 10,357 Administration and training 15,600 16,541 27, , , ,151 Arena and auditorium Salaries 102, , ,484 Maintenance 17,200 29,574 16,714 Utilities 15,000 16,096 14, , , ,673 Recreation programs Hockey insurance 8,000 7,666 7,666 Referee fees 15,000 16,139 14,893 Other hockey expenses 13,900 8,290 19,144 Hockey ice time 86,000 89,487 82,578 Figure skating ice time 3,614 Ball and soccer program 10,250 9,230 6,630 Day camp 8,134 Pool salaries 19,900 21,797 19,700 Pool expenses 15,850 16,259 14,465 Parks 20,100 22,710 23, , , ,172 Total expenses 557, , ,996 Annual surplus $0 $0 $0

9 LUCKNOW AND DISTRICT JOINT RECREATION BOARD NOTES TO FINANCIAL STATEMENTS For the year ended December 31, Accounting policies The statement of operations of the Lu cknow and District Joint Recreation Board is the representation of management prepared in accordance with generally accepted accounting principles for local governments recommended by the Public Sector Accounting Board (PSAB) of the Canadian Institute of as prescribed by the Ministry of Municipal Affairs and Housi ng. Significant aspects of accounting policies adopted by the board are as follows: a) Basis of accounting I) Accrual basis of accounting Sources of financing and expenditures are reported on the accrual basis of accounting. Revenues are recognized as they are earned and measurable. Expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services and the creation of a legal obligation to pay. ii) The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts reported in the financial statements and accompanying notes. Due to the inherent uncertainty in making estimates, actual results could differ from those estimates. 2. Participating municipalities Participating municipalities are the Township of Ashfield-Colborne-Wawanosh and the Township of Huron-Kinloss. The board conducts its operations using tangible capital assets owned by the participating municipalities. 3. Related party transactions Board administration cost of $1,000 (2010: $1,000) was paid to the Township of Ashfield-Colborne Wawanosh.