CORPORATION OF THE TOWN OF ST. MARYS CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2011
INDEPENDENT AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of the Corporation of the Town of St. Marys We have audited the consolidated financial statements of the Corporation of the Town of St. Marys, which comprise the consolidated statement of financial position as at December 31, 2011 and the consolidated statements of operations, change in net financial assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Canadian generally accepted accounting principles, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these consolidated financial statements 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 consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the consolidated 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 consolidated 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 consolidated financial statements. Except as noted in the following paragraph, we believe that the audit evidence we have obtained in our audit is sufficient and appropriate to provide a basis for our qualified audit opinion. Basis for Qualified Opinion The Corporation of the Town of St. Marys offers certain post-retirement benefits to qualifying employees which have not been accrued and disclosed in the financial statements as required by Canadian public sector accounting standards. We were unable to obtain sufficient appropriate audit evidence about the measurement of the liability for these post-retirement benefits and its effect on the excess of revenue over expenditures of the Corporation of the Town of St. Marys for the year ended December 31, 2011 and prior years. Consequently, we were unable to determine if any adjustments to the financial statements for the year ended December 31, 2011 and prior years were necessary. Qualified Opinion Except as noted in the above paragraph, in our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Corporation of the Town of St. Marys as at December 31, 2011 and the results of its operations, change in net financial assets and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. CHARTERED ACCOUNTANTS LICENSED PUBLIC ACCOUNTANTS London, Canada July 24, 2012
Consolidated Statement of Financial Position December 31, 2011 with comparative figures for 2010 2011 2010 Financial assets: Cash $1,436,461 $668,878 Investments (note 3) 5,638,984 4,199,517 Taxes receivable 427,941 361,267 Trade and other receivables (note 4) 1,239,165 2,026,148 8,742,551 7,255,810 Financial liabilities: Temporary borrowings (note 5) -- 1,600,000 Accounts payable and accrued liabilities 1,358,773 1,508,005 Solid waste closure and post-closure liabilities (note 7) 305,227 278,939 Deferred revenue (note 6) 1,707,335 1,451,137 Long-term liabilities (note 8) 12,886,886 11,535,554 16,258,221 16,373,635 Net financial assets (net debt) (7,515,670) (9,117,825) Non-financial assets: Tangible capital assets (note 9) 74,959,715 75,805,338 Inventory 14,908 10,008 Prepaid expenses 5,108 4,677 74,979,731 75,820,023 Accumulated surplus (note 12) $67,464,061 $66,702,198 The accompanying summary of significant accounting policies and notes are an integral part of these financial statements. 1
Consolidated Statement of Operations Year Ended December 31, 2011 with comparative figures for 2010 2011 2011 2010 Budget Actual Actual (unaudited) Revenues: Taxation and user charges: Taxation $9,209,510 $9,270,381 $8,727,375 Fees and user charges 5,176,946 4,837,702 4,789,857 14,386,456 14,108,083 13,517,232 Government transfers: Canada grants 161,395 158,974 1,031,139 Ontario grants 2,476,408 2,619,722 3,602,344 Other municipalities 519,136 711,912 735,307 3,156,939 3,490,608 5,368,790 Other: Penalties and interest on taxation 65,000 68,708 66,247 Other fines and penalties 19,500 23,672 21,696 Investment income 77,218 109,385 68,607 Licences, permits and rents 315,200 319,282 298,047 Donations 577,509 663,677 310,617 Development charges earned 29,299 29,299 -- Parkland reserve funds earned 26,927 26,927 6,287 Developer contributions -- -- 484,623 Sales 155,040 172,613 171,401 Gain on sale of land and equipment -- 107,771 -- 1,265,693 1,521,334 1,427,525 Total revenues 18,809,088 19,120,025 20,313,547 Expenses: General government 1,804,908 1,827,694 1,630,802 Protection services 2,169,970 2,007,106 2,090,147 Transportation services 1,983,158 1,942,123 1,908,111 Environmental services 3,323,530 3,234,421 3,052,790 Health services 1,544,759 1,495,947 1,286,237 Social and family services 2,456,566 2,402,920 2,650,468 Social Housing 418,943 432,459 418,341 Recreation and cultural services 4,534,735 4,468,842 4,577,972 Planning and development 578,273 546,650 594,998 Total expenses 18,814,842 18,358,162 18,209,866 Annual surplus (5,754) 761,863 2,103,681 Accumulated surplus, beginning of year 66,702,198 66,702,198 64,598,517 Accumulated surplus, end of year $66,696,444 $67,464,061 $66,702,198 The accompanying summary of significant accounting policies and notes are an integral part of these financial statements. 2
Consolidated Statement of Changes in Net Financial Assets Year Ended December 31, 2011 with comparative figures for 2010 2011 2011 2010 Budget Actual Actual (unaudited) Annual surplus ($5,754) $761,863 $2,103,681 Acquisition of tangible capital assets (2,001,412) (1,338,408) (3,995,197) Amortization of tangible capital assets 2,117,658 2,117,657 2,062,597 Write-downs on tangible capital assets 66,374 89,192 Change in supplies of inventories (4,900) (882) Change in prepaid expense (431) (1,740) Change in net financial assets 110,492 1,602,155 257,651 Net financial assets (net debt), beginning of year (9,117,825) (9,117,825) (9,375,476) Net financial assets (net debt), end of year ($9,007,333) ($7,515,670) ($9,117,825) The accompanying summary of significant accounting policies and notes are an integral part of these financial statements. 3
Consolidated Statement of Cash Flows December 31, 2011 with comparative figures for 2010 2011 2010 Operating activities: Annual surplus $761,863 $2,103,681 Items not involving cash: Amortization 2,117,657 2,062,597 Write-downs on tangible capital assets 66,374 89,192 Change in landfill liability 26,288 34,294 Change in non-cash assets and liabilities: Taxes receivable (66,674) 14,680 Accounts receivables 786,983 (480,684) Accounts payable and accrued liabilities (149,232) (740,117) Deferred revenue 256,198 445,138 Inventory (4,900) (882) Prepaid expenses (431) (1,740) Net change in cash from operating activities 3,794,126 3,526,159 Capital activities: Cash used to acquire tangible capital assets (1,338,408) (3,995,197) Investing activities: Investments (1,439,467) (245,962) Financing activities: Temporary Borrowings (1,600,000) 500,000 Proceeds from issuance of long-term debt 1,900,000 -- Long-term debt repaid (548,668) (448,520) Net change in cash from financing activities (248,668) 51,480 Net change in cash 767,583 (663,520) Cash beginning of year 668,878 1,332,398 Cash, end of year $1,436,461 $668,878 Cash paid for interest $603,828 $591,447 Cash received from interest $109,385 $68,607 The accompanying summary of significant accounting policies and notes are an integral part of these financial statements. 4
1. Significant accounting policies: The consolidated financial statements of The Town of St. Marys (the Town ) are prepared by management in accordance with Public Sector Accounting Standards as recommended by the Canadian Institute of Chartered Accountants. Significant accounting policies adopted by the Town are as follows: (a) Reporting entity: The consolidated financial statements reflect the assets, liabilities, revenues, expenditures and fund balances of the reporting entity. The reporting entity is comprised of all organizations, committees and local boards accountable for the administration of their financial affairs and resources to the Town and which are owned or controlled by the Town. These financial statements include: St. Marys Public Library Board St. Marys Home Support Board St. Marys Friendship Centre Board St. Marys Police Services Board St. Marys Business Improvement Area St. Marys District Museum The following entities are proportionally consolidated with the financial statements of the Town of St. Marys: Perth District Health Unit 8.9% Spruce Lodge 7.2% All interfund assets and liabilities and sources of financing and expenditures have been eliminated. (b) Trust funds: Trust funds and their related operations administered by the Town are not included in these financial statements but are reported on separately. (c) Accrual basis of accounting: The Town follows the accrual method of accounting for revenues and expenditures. Revenues are normally recognized in the year in which they are earned and measurable. Expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services. The statements necessarily include some amounts that are based on management s best estimates and careful judgments. (d) Investments: Investments consist of bonds and money market notes and are stated at the lower of cost and market value. Gains and losses on investments are recorded when incurred. 5
1. Significant accounting policies (continued): (e) Non-financial assets Non financial assets are not available to discharge existing liabilities and are held for use in the provision of services. They have useful lives extending beyond the current year and are not intended for sale in the ordinary course of operations. f) Tangible Capital assets: Tangible capital assets are recorded at cost which includes amounts that are directly attributable to acquisition, construction, development or betterment of the asset. The cost, less residual value, of the tangible capital assets, excluding land and landfill sites, are amortized on a straight line basis over their estimated useful lives as follows: Asset Useful Life- Years Land improvements 20-80 Buildings and building improvements 25-75 Library books, videos and CD's 10 Vehicles 7 Machinery and equipment 4-15 Water and wastewater infrastructure 15-100 Roads infrastructure - Base 100 - Surface 15-40 Street Lights 25-30 Signage 10 Bridges, dams & water structures 80 Landfill sites are amortized using the units of production method based upon capacity used during the year. One half of the annual amortization is charged in the year of acquisition and in the year of disposal. Assets under construction are not amortized until the asset is available for productive use. i) Contributions of tangible capital assets: Tangible capital assets received as contributions are recorded at their fair value at the date of receipt and also are recorded as revenue. ii) Intangible assets: Intangible assets and natural resources that have not been purchased are not recognized as assets in the financial statements. iii) Interest capitalization The Town s tangible capital asset policy does not allow for the capitalization of interest costs associated with the acquisition or construction of a tangible capital asset. iv) Leases Leases are classified as operating or capital leases. Leases which transfer substantially all of the benefits and risks incidental to ownership of property are accounted for as capital leases. All other leases are accounted for as operating leases and the related payments are charged to expenditures as incurred. 6
1. Significant accounting policies (continued): v) Inventories Inventories held for consumption are recorded at the lower of cost and replacement cost. (g) Reserves and reserve funds: Certain amounts, as approved by Council are set aside in reserves and reserve funds for future operating and capital purposes. Transfers to and/or from reserves and reserve funds are an adjustment to the respective fund. (h) Deferred revenue: Deferred revenues represent user charges and fees which have been collected but for which the related services have yet to be performed. These amounts will be recognized as revenues in the fiscal year the services are performed. (i) Investment income: Investment income earned is reported as revenue in the period earned. Investment income earned on deferred revenue is added to deferred revenue balances. (j) Use of estimates: 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 of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the period. (k) Government transfers: Transfers are recognized in the financial statements as revenues in the period in which events giving rise to the transfer occur, providing the transfers are authorized, and eligibility criteria have been met, and reasonable estimates of the amounts can be made. 2. Contingent Liability: The Town has been named as the defendant in an action seeking damages in the amount of $30,000 for equipment supplied to a construction project. The outcome of this action is not determinable as at December 31, 2011 and accordingly no provision has been made in these financial statements for any liability which may result. Any loss arising from these legal actions will be recorded in the year the related litigation is settled. 3. Investments: Investments reported on the consolidated balance sheet have market values as follows: 2011 2010 Cost Market Value Cost Market Value Investments $5,638,984 $5,652,816 $4,199,515 $4,199,515 7
4. Trade and other receivables: Receivable are reported net of a collection allowance of $102,046 (2010 - $49,896). 5. Temporary borrowing: The 2010 construction advances were for capital projects that once completed were debenture financed. The interest rate at December 31, 2010 was 1.57 %. 6. Deferred revenue: A requirement of PSAB is that obligatory reserve funds be reported as deferred revenue. The Town has obligatory development charge reserve funds in the amount of $837,485 (2010 - $748,476). These reserve funds are considered obligatory as Provincial legislation restricts how these funds may be used and, under certain circumstances, how these funds may be refunded. In the case of development charges, revenue recognition occurs after the funds have been collected and when the Town has approved the expenditures for the capital works for which the development charges were raised. These funds have been set aside, as required by the Development Charges Act, to defray the cost of growth related capital projects associated with new development. The deferred revenues, reported on the consolidated statement of financial position, are made up of the following: 2011 2010 Development charges $837,485 $748,476 Recreational 23,527 46,057 Provincial Gas Tax 54,281 55,978 Federal Gas Tax 716,030 435,351 Other deferred revenue 76,012 165,275 Balance, end of year $1,707,335 $1,451,137 7. Landfill closure and post-closure liabilities: Landfill closure and post-closure care requirements have been defined in accordance with industry standards and include final covering and landscaping of the landfill, removal of ground water and leachates, and ongoing environmental monitoring, site inspection and maintenance. The liability for the landfill site is recorded at $305,227 and represents the present value of closure and post-closure costs for all of the current site using an estimated average long-term borrowing rate of 7%. The liability is recorded based on the capacity of the landfill used to date. The estimated remaining capacity of the site is approximately 62,000 cubic metres, which will be filled in 5 years. Post-closure care is estimated to continue for a period of 25 years. The Town has acquired 34 hectares of land adjacent to the existing site and is currently in the process of obtaining ministry approval for expansion. 8
8. Long-term liabilities The balance of long-term liabilities reported on the consolidated statement of financial position is made up of the following: 2011 2010 Municipal Operations Centre loan, payable in semi annual installments of $100,347,including interest at 5.09%, due 2027. Recoverable from taxation and user fees. Water Wells loan, payable in semi annual installments of $36,915, including interest at 2.49%, due 2017. Recoverable from user fees. $2,178,682 $2,265,166 409,120 471,593 Pyramid Recreation Centre loan, payable in semi annual installments of $276,043, including interest at 4.88%, due 2028. Recoverable from taxation, donations and user fees. Pyramid Recreation Centre loan, payable in semi annual installments of $102,462, including interest at 5.34%, due 2028. Recoverable from taxation and user fees. Wastewater Treatment Plant Upgrades loan, payable in semi annual installments of $115,135, including interest at 3.81%, due 2021. Recoverable from waste water user fees. 6,207,123 6,447,470 2,270,901 2,351,325 1,821,060 -- $12,886,886 $11,535,554 Principal payments for the next 5 fiscal years and thereafter are as follows: 2012 2013 2014 2015 $654,396 683,981 714,953 747,376 781,322 2016 Thereafter 9,304,858 $12,886,886 9
9. Tangible capital assets: Cost 2011 Land Vehicles, Water and Improve- Machinery and Wastewater Roads Work in Total Land ments Building Equipment Infrastructure Infrastructure progress Balance, beginning of year $2,059,900 $2,924,660 $28,255,921 $11,209,248 $29,553,954 $26,140,635 $7,835 $100,152,153 Additions -- 224,960 90,549 288,652 340,225 356,256 37,766 1,338,408 Disposals 25,361 -- 7,434 148,091 11,124 234,851 -- 426,861 Balance, end of year 2,034,539 3,149,620 28,339,036 11,349,809 29,883,055 26,262,040 45,601 101,063,700 Accumulated Amortization Balance, beginning of year -- 1,219,102 4,792,760 3,350,788 5,346,217 9,637,949 -- 24,346,816 Disposals -- -- 7,434 147,972 4,045 201,037 -- 360,488 Amortization Expense -- 128,022 620,889 558,935 378,928 430,883 -- 2,117,657 Balance, end of year -- 1,347,124 5,406,215 3,761,751 5,721,100 9,867,795 -- 26,103,985 Net Book Value, end of year $2,034,539 $1,802,496 $22,932,821 $7,588,058 $24,161,955 $16,394,245 $45,601 $74,959,715 Cost 2010 Land Vehicles, Water and Improve- Machinery and Wastewater Roads Work in Total Land ments Building Equipment Infrastructure Infrastructure progress Balance, beginning of year $1,575,279 $2,688,137 $27,061,910 $8,530,214 $27,505,405 $25,949,257 $3,399,589 $96,709,791 Additions 484,621 297,318 1,221,784 2,995,893 2,085,398 301,937 (3,391,754) 3,995,197 Disposals -- 60,795 27,773 316,859 36,849 110,559 -- 552,835 Balance, end of year 2,059,900 2,924,660 28,255,921 11,209,248 29,553,954 26,140,635 7,835 100,152,153 Accumulated Amortization Balance, beginning of year -- 1,170,679 4,181,964 3,138,272 4,994,699 9,262,247 -- 22,747,861 Disposals -- 60,795 6,365 303,553 8,307 84,623 -- 463,643 Amortization Expense -- 109,218 617,161 516,069 359,825 460,324 -- 2,062,597 Balance, end of year -- 1,219,102 4,792,760 3,350,788 5,346,217 9,637,948 -- 24,346,815 Net Book Value, end of year $2,059,900 $1,705,558 $23,463,161 $7,858,460 $24,207,737 $16,502,687 $7,835 $75,805,338 Assets under construction Assets under construction having a value of $45,601 (2010 - $7,835) have not been amortized. Amortization of these assets will commence when the asset is put into service. Contributed tangible capital assets Contributed capital assets have been recognized at fair market value at the date of contribution. The value of contributed assets received during the year is $ nil (2010 - $484,623). Tangible capital assets disclosed at nominal values Where an estimate of fair value could not be made, the tangible capital asset was recognized at a nominal value. Land is the only category where nominal values were assigned. 10
9. Tangible capital assets (continued): Works of art and historical treasures The Town has a museum collection, a historical water tower and other treasures which have not been valued. 10. Pension agreements: The municipality makes contributions to the Ontario Municipal Employees Retirement Fund (OMERS), which is a multi-employer plan, on behalf of full-time members of its staff. This plan is a defined benefit plan which specifies the amount to be received on retirement by the employees based on the length of service and rates of pay. The amount contributed to OMERS for 2011 was $306,085 (2010 - $266,909). The OMERS pension plan has a deficit. If actuarial surpluses are not available to offset the existing deficit and subsidize future contributions, increases in contributions will be required in the future. 11. Classification of expenditure by object: The Schedule of Operating Fund Activities represents the expenditures by function; the following classifies those same expenditures by object: Budget 2011 2010 Salaries, wages and employee benefits $7,825,084 $7,762,506 $7,464,991 Materials and services 7,931,954 7,514,706 7,629,625 Rents and financial expenses 38,000 84,026 180,334 External transfers to others 274,392 275,438 291,705 Debt services 627,754 603,828 580,614 Amortization 2,117,658 2,117,658 2,062,597 Total expenditures by object $18,814,842 $18,358,162 $18,209,866 11
12. Accumulated surplus: Accumulated surplus consists of individual fund surplus, reserves and reserve funds as follows: 2011 2010 Surplus: Invested in tangible capital assets $74,959,715 $75,805,338 Operating Deficit (1,125,102) (1,371,279) Unfunded Unfinanced capital outlay (347,372) (2,137,814) Long-term liabilities (12,886,886) (11,535,554) Landfill closure costs (305,227) (278,939) Total surplus $60,295,128 $60,481,752 Reserves 3,518,134 3,536,372 Reserve Funds 3,650,799 3,684,074 Total reserves and reserve funds $7,168,933 $6,220,446 Accumulated surplus $67,464,061 $66,702,198 13. Budget data: Budget data presented in these consolidated financial statements are based upon the 2011 operating and capital budgets approved by Council and actuals for consolidated entities. The chart below reconciles the approved budget to the budget figures reported in these consolidated financial statements. Town PSAB Adjustments Budget Approved & Consolidated Per Budget Entities Financials General revenue $17,339,332 $1,469,756 18,809,088 General expense (15,425,885) (1,271,300) (16,697,185) Amortization -- (2,117,657) (2,117,657) Non Statement of Operation Transactions Proceeds on debt issue 2,336,000 (2,336,000) -- Transfers from other funds 1,805,305 (1,805,305) -- Debt principal payments (892,848) 892,848 -- Unfinanced Capital (2,154,000) 2,154,000 -- Transfers to other funds (979,351) 979,351 -- Capital expenditures (2,028,553) 2,028,553 -- Annual Deficit -- (5,754) (5,754) 12
14. Government transfers: The Town recognizes the transfer of government funding as revenues in the period that the events giving rise to the transfer occurred. The Government transfers reported on the Statement of Operations are: 2011 2010 Revenue: Ontario grants Services for seniors $823,949 $820,949 Administration 12,209 12,088 Museum 83,207 33,040 Public Health 581,357 533,561 Ontario Municipal Partnership Fund (OMPF) 797,800 856,400 Provincial Gas Tax 80,000 55,000 Water -- 59,301 Police 6,684 6,032 Library 129,081 98,106 Childcare 30,739 32,746 Community Development 74,696 141,787 Solid Waste -- 39,784 Wastewater -- 693,588 Recreation Facilities -- 52,701 Adult Learning -- 167,261 Total Ontario grants 2,619,722 3,602,344 Federal grants: Public Health 9,749 9,085 Libraries 3,424 2,514 Museum 13,914 18,440 Gas tax 131,887 107,311 Tourism -- 2,770 Recreation -- 52,701 Storm Sewers -- 76,506 Water -- 59,301 Wastewater -- 693,588 Services for seniors -- 8,923 Total Federal grants 158,974 1,031,139 Other Municipalities Protection 156,587 149,023 Transportation 129,750 44,827 Childcare 378,611 497,800 Library 46,964 43,657 Total Federal grants 711,912 735,307 Total government transfers $3,490,608 $5,368,790 13
15. Segmented Information: The Town of St. Marys is a diversified municipal government institution that provides a wide range of services to its citizens. Distinguishable functional segments have been separately disclosed in the segmented information. The nature of those segments and the activities they encompass are as follows: i. General government This item related to the revenues and expenses that relate to the operations of the Municipality itself and cannot be directly attributed to specific segment. ii. Protection Protection is comprised of police services, fire protection and building department. The police services work to ensure the safety and protection of the citizens and their property. The fire department is responsible to provide fire suppression service, fire prevention programs, training and education. The building department is responsible for the maintenance and enforcement of building and construction codes. iii. Transportation Transportation includes the delivery of municipal public works services related to the planning, development and maintenance of the roadway systems, street lighting and funding for mobility transit services. iv. Environmental Environmental services consists of providing sanitary and storm sewer, water, waste collection and disposal, and recycling services. v. Health Health services are comprised of public health services which works to improve the overall health of the population and overcome health inequalities by providing services to individuals and communities. Also included are ambulance and cemetery services. vi. Social and family Social service provides services that are meant to help the less fortunate in society through Ontario Works assistance and social housing. Social services also encompasses a municipal owned seniors' home and childcare services. vii. Recreation and culture This service area provides services meant to improve the health and development of the Municipality's citizens. Recreational programs and cultural programs like swimming, skating, museum and library services are provided at an locations such as a recreation complex, sports fields and parks. viii. Planning and development This department provides a number of services including city planning, and review of all property development plans through its application process. 14
15. Segmented information (continued): For each reported segment, revenues and expenses represent both amounts that are directly attributable to the segment and amounts that are allocated on a reasonable basis. Therefore, certain allocation methodologies are employed in the preparation of segmented financial information. The General Revenue Fund reports on municipal services that are funded primarily by taxation revenues. Taxation and payments-in-lieu of taxes are apportioned to General Revenue Fund services based on the segment s net surplus. 2011 General Social and Recreation Planning and Government Protection Transportation Environmental Health Family and Culture Development Total Revenue: Taxation $9,270,381 $9,270,381 Fees and user charges 30,164 8,230 60,681 2,707,826 79,197 949,144 979,845 22,615 4,837,702 Grants 841,896 6,684 180,000 591,106 854,688 229,626 74,696 2,778,696 Interest 108,653 213 519 109,385 Other 391,204 360,600 129,750 378,611 786,692 77,004 2,123,861 10,642,298 375,514 370,431 2,707,826 670,516 2,182,962 1,996,163 174,315 19,120,025 Expenses: Salaries and benefits 1,200,122 374,294 654,300 704,513 669,886 1,890,086 2,021,491 247,814 7,762,506 Goods and services 744,694 1,484,833 936,037 1,517,786 770,514 897,929 1,278,692 243,685 7,874,170 Interest on long term debt 10,279 23,984 109,289 460,276 603,828 Interdepartment transfer (206,550) 68,266 (244,659) 298,923 39,053 (20,000) 63,967 1,000 -- Amortization 89,428 69,434 572,461 603,910 16,494 67,364 644,416 54,151 2,117,658 1,827,694 2,007,106 1,942,123 3,234,421 1,495,947 2,835,379 4,468,842 546,650 18,358,162 Net surplus (deficit) $8,814,604 ($1,631,592) ($1,571,692) ($526,595) ($825,431) ($652,417) ($2,472,679) ($372,335) $761,863 2010 General Social and Recreation Planning and Government Protection Transportation Environmental Health Family and Culture Development Total Revenue: Taxation $8,727,375 $8,727,375 Fees and user charges 56,238 4,436 109,403 2,590,132 85,256 919,449 983,644 41,299 4,789,857 Grants 883,488 155,055 192,138 1,622,068 542,646 1,360,418 468,420 144,557 5,368,790 Interest 67,875 213 519 68,607 Other 79,909 226,274 418,772 2,453 22,968 599,542 9,000 1,358,918 9,814,885 385,765 301,541 4,630,972 630,568 2,303,354 2,051,606 194,856 20,313,547 Expenses: Salaries and benefits 1,105,187 343,928 589,925 595,593 662,302 1,866,618 2,061,543 239,895 7,464,991 Goods and services 648,083 1,597,093 965,816 1,511,153 579,912 703,340 1,359,035 300,242 7,664,674 Interest on long term debt 10,660 24,874 68,230 418,341 495,499 1,017,604 Amortization 83,482 70,216 597,236 540,324 16,523 70,567 630,388 53,861 2,062,597 1,836,752 2,021,897 2,177,851 2,715,300 1,258,737 3,058,866 4,546,465 593,998 18,209,866 15