2008 Financial Statements

Transcription

CORPORATION OF THE CITY OF TIMMINS
CONSOLIDATED FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31 2008
2007
INDEX
INTRODUCTORY
Mayor and Members of Council
Municipal Officials
FINANCIAL STATEMENTS
Auditors
Report
Consolidated Statement of Financial Position
Consolidated Statement of Financial Activities
Consolidated Statement of Changes in Fund Balances
Statement
1
2
3
Consolidated Statement of Cash Flows
Notes to Consolidated Financial Statements
4
ANALYTICAL SCHEDULES
Schedule of Consolidated Current Fund Operations
Schedule of Consolidated Capital Fund Operations
Schedule of Consolidated Reserves and Reserve Funds
Schedule of
Schedule
A
B
C
D
Segmented Disclosure
TRUST FUNDS
Auditors Report
Statement of Financial Position
Statement
Statement of Continuity
Notes to Financial Statements
CONSOLIDATED LOCAL
1
2
BOARDS CORPORATION
AND ENTERPRISE
BOARD OF MANAGEMENT OF THE DOWNTOWN TIMMINS
BUSINESS IMPROVEMENT AREA
Auditors Report
Statement of Financial Activities
Statement
1
2
Statement of Cash Flows
3
TIMMINS ECONOMIC DEVELOPMENT CORPORATION
Auditors Report
Statement
1
2
3
TIMMINS GOLD MINE TOUR AND MUSEUM
Auditors Report
Statement of Financial Activities and
Changes
Statement
in
Municipal
Position
1
2
3
CONSOLIDATED LOCAL BOARDS AND CORPORATION
NON
PORCUPINE HEALTH UNIT
Auditors
Report
Statement of Changes in Financial Position
Statement
1
2
3
INDEX
D
CONT
THE BOARD OF HEALTH FOR THE PORCUPINE HEALTH UNIT BUILDING TRUST
Auditors Report
Financial Position
Statement
Statement of Revenue Expenditure and Net Assets
1
2
3
COCHRANE DISTRICT SOCIAL SERVICES ADMINISTRATION BOARD
Auditors
Report
Statement of Change in Fund Balances
Statement of Changes in Financial Position
Statement
1
2
3
4
THE CITY OF TIMMINS NON
PROFIT HOUSING CORPORATION
Auditors Report
Statement of
Statement of
and
Operations
Changes
Changes in Replacement
Statement
1
in Net Assets
2
Reserve Fund
3
MATTAGAMI REGION CONSERVATION AUTHORITY
Auditors
Report
Statement of
Statement of
Operations
Changes in
Statement
1
2
Net Assets
CITY OF TIMMINS FINANCIAL INFORMATION RETURN
3
PROVINCE OF ONTARIO
CITY COUNCIL
MAYOR
T
Laughren
COUNCILORS
Ward 1
Ward 2
Ward 3
Ward 4
G Scripnick
J Curley
B Gvozdanovic
P Bamford
Ward 5
M
Doody
S Adams
D Saudino
J
Slattery
OFFICERS
Chief Administrative Officer
City Clerk
J Torlone MA
R J Watson AMCT CMO
Director of Finance and Treasurer
B Christian CGA
M Pintar
Fire Chief
Police Chief
R
Director of Public Works
Engineering
Director of Development Maintenance
Transit Services
AUDITORS
Ross Pope
Company LLP Chartered Accountants
BANKERS
Bank of Nova Scotia
Laperriere
L Duval PEng
M Jensen
220
Algonquin Boulevard East Timmins
ON
P4N 1 B3
ca
timmins
www
September 25
2009
YOUR WORSHIP AND MEMBERS OF COUNCIL
It is my
pleasure to submit for the year ended December 31 2008 the thirty sixth year of
operation of the City The Auditors Report and the Annual Financial Statement as required
by the City of Timmins By law No 19766 and Municipal Act
The Financial Statement is
a
while the Auditors
attests that the Financial Statements
position
Yours
report
on
Report
operations
and results of the
the Administration of the
of the
City
truly
BERNARD J CHRISTIAN CGA AMCT
Director of Finance
Treasurer
705360 2603
BJCjs
Encl
nl
n
j
BERNARD J CHRISTIAN CGA A
T
C
M
DIRECTOR of FINANCE
TREASURER
Telephone 705 360 2603
Fax 705 3602699
E mail berniec@timmins
ca
Financial Affairs
presents fairly the financial
s
City
Ross Pope
Company
LLP
Chartered Accountants
Telephone 705
Fax 705
101 Cedar Street South
Timmins Ontario
9484
264
0788
264
Mail
E
informQa rosspope
com
Website rosspope
www
com
P4N 2G7
AUDITORS REPORT
To the Members of Council Inhabitants and
Corporation of the City of Timmins
Ratepayers of the
We have audited the consolidated statement of financial position of the the Corporation of the City of
Timmins as at December 31 2008 and the consolidated statements of financial activities changes in
fund balances and cash flows for the year then ended These consolidated financial statements are the
Our responsibility is to express an opinion on these
responsibility of the City
s management
consolidated financial statements based
We conducted
our
on our
audit
audit in accordance with Canadian
generally accepted auditing
standards
Those
standards require that we plan and perform an audit to obtain reasonable assurance whether the
consolidated financial statements are free of material misstatement An audit includes examining on a
test
basis evidence supporting the
An audit also includes
management
as
well
as
assessing
evaluating
amounts and disclosures in the
consolidated financial statements
the accounting principles used and significant estimates made
the overall consolidated financial statement presentation
by
In our opinion these consolidated financial statements present fairly in all material respects the financial
position of the the Corporation of the City of Timmins as at December 31 2008 and the results of its
financial activities and cash flows for the year then ended in accordance with Canadian generally
accepted accounting principles
loss l
Timmins Ontario
September 25 2009
Ross Pope
a
y
aa tP
Company
LLP
Licensed Public Accountants
STATEMENT 1
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31
2008
2007
FINANCIAL ASSETS
Cash
Investments
Accounts receivable
Taxes receivable Note
Other
4
TOTAL ASSETS
935
3
2
09
452
33
051
7
677
045
8
003
710
115
10
030
548
752
8
683
095
84
493
110
162
524
17
916
526
19
LIABILITIES
Bank indebtedness
Post employment benefits Note 7
Accounts payable and accrued liabilities
Deferred revenue general
Deferred revenue obligatory
Lon term liabilities Note 10
reserve
Nate 8
fund
334
1
832
10
880
012
706
7
409
674
8
8
98
793
807
13
348
24
509
1
972
325
317
10
207
014
35
521
264
42
181
2
231
10
622
607
636
3
707
1D
695
435
D29
605
15
91
543
11
816
2
176
20
221
306
094
209
20
045
490
17
005
737
22
162
524
17
916
526
19
662
2
9
14
985
424
14
848
26
Note 9
TOTAL LIABILITIES
MUNICIPAL POSITION
FUND BALANCES
Current fund
Capital fund
Note 11
Schedule A
Schedule B
Reserves and
reserve
funds
Schedule C
FUND BALANCES
AMOUNTS TO BE RECOVERED Note 12
TOTAL
MUNICIPAL POSITION
TOTAL LIABILITIES AND MUNICIPAL POSITION
Approved by
C
Qpc
Mayor
See
accompanying
Councillor
notes
528
2
511
STATEMENT 2
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
YEARS ENDED DECEMBER 31
2008
2007
31
901
617
142
535
23
177
1
763
302
248
21
29
780
689
803
406
22
152
1
623
396
462
19
108
579
77
602
711
72
372
462
38
888
287
134
4
784
32
316
864
292
346
235
2
2
44
080
1
615
168
3
920
250
298
572
0
2
02
080
1
615
344
4
886
430
169
123
025
437
117
520
7
396
18
960
213
655
138
20
136
340
12
417
5
984
550
939
21
863
6
105
765
2
989
458
7
512
17
149
847
689
158
25
810
529
12
302
4
158
631
460
21
736
6
641
437
2
735
775
199
95
325
931
97
610
63
636
662
250
7
490
127
202
13
895
155
975
38
452
742
884
631
096
1
890
431
2
9
51
303
798
787
586
14
537
539
328
88
761
1
041
062
831
095
722
22
379
953
28
870
921
117
704
884
126
REVENUE
TAXATION AND USER CHARGES
Residential and farm taxation
Commercial and industrial taxation
Taxation from other governments
User charges
GRANTS
Government of Canada
Province of Ontario
OTHER
Investment income
Fines and
penalties
Licences permits and
rent
Other
TOTAL REVENUE
EXPENDITURE
CURRENT OPERATIONS
General government
Protection to persons and property
Transportation services
Environmental services
Health services
Social and
family services
Recreation and cultural services
Planning and development
CAPITAL OPERATIONS
General government
Health services
Social and family services
TOTAL EXPENDITURE
CHANGE IN MUNICIPAL POSITION
See
accompanying
notes
247
5
560
447
9
679
STATEMENT 3
CONSOLIDATED STATEMENT OF CHANGES IN FUND BALANCES
2008
247
5
560
2007
447
9
679
ADD
DEDUCT
Repayment of long
term debt
Change in prepaid and inventory
Proceeds from the issuance of debentures and
304
445
583
85
term
long
debt
Change in post employment benefits
989
315
Increase in amounts to be recovered
127
97
CHANGE IN FUND BALANCES
See
accompanying
notes
344
5
687
000
160
984
34
10
325
317
360
560
752
10
304
1
990
STATEMENT 4
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31
2008
2007
OPERATING ACTIVITIES
Change
in
municipal position
247
5
560
USES
Increase in accounts receivable
Increase in taxes receivable
Increase in other financial assets
Decrease in deferred revenue general
Decrease in obligatory reserves
140
175
447
9
679
113
0
4
57
346
115
825
5
368
9
604
778
SOURCES
Decrease in taxes receivable
Increase in deferred revenue
Decrease in accounts receivable
Decrease in other financial assets
Increase in accounts payable and accrued liabilities
Increase in post employment benefits
CASH PROVIDED BY
USED IN
707
680
500
2
496
3
353
398
26
192
617
988
315
531
238
10
024
0
4
58
360
560
795
9
551
FINANCING ACTIVITIES
Proceeds of issuance of
term
long
Repayment of long
term debt
CASH PROVIDED BY
debt
USED IN FINANCING ACTIVITIES
CHANGE IN CASH
325
317
10
445
304
445
304
934
9
086
DEFICIENCY beginning of
year
CASH DEFICIENCY end of year
000
160
325
157
10
774
361
590
7
699
952
7
473
343
2
387
590
7
699
935
3
2
09
452
33
706
7
409
343
2
387
590
7
699
DEFICIENCY CONSISTS OF
Bank indebtedness
Investments
CASH FLOW SUPPLEMENTARY INFORMATION
Interest paid
See
accompanying
notes
580
526
710
115
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1
2007
SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the City are the representation of management prepared in accordance
Canadian generally accepted accounting principles for local governments as recommended by the Public Sector
Accounting Board PSAB of the Canadian Institute of Chartered Accountants These consolidated financial
statements
do
not
contain
the
consolidation
proportional
of
the
District
of
Cochrane
Administration Board The Porcupine Health Unit and the The Board of Health for the
Building Trust The more significant of these accounting policies are summarized below
Social Services
Porcupine Health Unit
The focus of PSAB financial statements is
on the financial position of the City and the changes thereto
The
Consolidated Statement of Financial Position reports the assets and liabilities of the City Financial assets are
those assets which could provide resources to discharge existing liabilities or finance future operations
Municipal position represents the financial position and is the difference between assets and liabilities This
provides information about the City
s overall future revenue requirements and its ability to finance activities and
meet its obligations
a
REPORTING ENTITY
The consolidated financial statements reflect the assets liabilities revenues
the reporting entity These consolidated financial statements include
expenditures and fund balances of
Timmins Airport
Timmins Gold Mine Tour and Museum
Timmins Economic Development Corporation
Board of Management of the Downtown Business
All interfund assets and liabilities and
i
The
sources
of
Improvement
Area
financing and expenditures have been eliminated
CONSOLIDATED ENTITIES
NON
following organizations
have not been consolidated with the consolidated financial statements of the
City
of
Timmins
Mattagami Region Conservation Authority
Profit Housing Corporation
City of Timmins Non
District of Cochrane Social Services Administration Board
The Board of Health for the
Separate audited financial
Porcupine
Health Unit
statements have been
Building
Trust
prepared for the above organizations
Trust funds and their related operations administered by the City are not consolidated but are
separately on the Trust Funds Statement of Continuity and Trust Funds Statement of Financial Position
ii
reported
ACCOUNTING FOR SCHOOL BOARD TRANSACTIONS
Revenues expenditures
reflected in the
assets and
liabilities with respect to the
municipal fund balances of these financial
statements
operations of the school boards
are
not
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS CONT
D
2007
D
CONT
BASIS OF ACCOUNTING
b
FUND ACCOUNTING
In accordance with
practices common to Ontario municipalities the City follows the fund basis of accounting The
primarily to account for those items which relate to annual operations The capital fund is
used principally to account for assets acquired or obligations incurred which are to be financed from the future
revenue of the City and it is the annual interest cost of this financing that is paid from current operations Reserve
funds are generally created by appropriations from current operations The uses of these funds are restricted to
the purposes for which the reserve funds are created Within the framework of the fund basis of accounting
these financial statements have been prepared on an accrual basis The accrual basis of accounting recognizes
revenues 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
current fund is used
INVESTMENTS
Investments
are
recorded at cost
CAPITAL ASSETS
The historical cost and accumulated amortization of
assets are
Capital
of acquisition
reported
capital
end there is an offsetting
as an
For those
capital assets are not recorded for municipal purposes
the
Consolidated
Statement of Financial Activities in the year
expenditure
assets financed by the issue of long
term debt which remains outstanding at
on
amount included
year
Consolidated Statement of Financial Position
in amounts to be recovered
in the future years
on
the
USE OF ESTIMATES
iv
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 reporting periods
These have been made using careful
in
and
of
information
available
The
consolidated
financial
statements have in management
judgment
light
s
been
within
reasonable
limits
of
Actual
results could differ from these
opinion
properly prepared
materiality
The
estimates
DEFERRED REVENUE OBLIGATORY RESERVE FUND
v
Deferred
revenue
obligatory
reserve
fund represents
development charge contributions
recreational
land
contributions and gasoline tax contributions under the authority of provincial legislation and municipal by
laws
These amounts have been collected but the related services have yet to be performed These amounts will be
recognized as revenue in the fiscal year the services are performed
DEFERRED REVENUE
vi
Deferred
revenue
represents
services have yet to be
are
performed
user
performed
charges and other fees which have been collected for which the related
These amounts will be recognized as revenue in the fiscal year the services
D
2007
1
b
BASIS OF ACCOUNTING
vii
POST EMPLOYMENT BENEFITS
D
CONT
D
CONT
The
City accrues its obligations under employment benefit plans as the employees render the services necessary
employee future benefits The cost of retirement benefits earned by employees is actuarially determined
using the projected benefit method pro
rated on service and management
s best estimate of expected plan
performance salary escalation retirement ages and expected health care costs Actuarial valuations where
necessary for accounting purposes are performed triennially The discount rate used to determine the accrued
benefit obligation was the expected cost of long term debt Unamortized actuarial gains or losses are amortized
on a straight
line basis over the expected average remaining service life of the employee group
to earn
Where
These
applicable the City has
reserve
funds
were
obligations either in full or in part
a plan asset under
Therefore for the purposes of these financial statements the plans are
set aside reserve funds intended to fund these
created under
CICA PS 3250 Retirement Benefits
municipal by
law
and do not meet the definition of
considered unfunded
GOVERNMENT TRANSFERS
viii
Government transfers
the transfer occur
are recognized in the financial statements in the period in which the events giving
eligibility criteria are met and reasonable estimates of the amount can be made
rise to
TAXATION AND RELATED REVENUES
ix
billings are prepared by the City based on assessment rolls issued by the Municipal Property
Corporation MPAC Tax rates are established annually by City Council incorporating amounts to
be raised for local services and amounts the City is required to collect on behalf of the Province of Ontario in
respect of education taxes A normal part of the assessment process is the issue of supplementary assessment
rolls which provide updated information with respect to changes in property assessment Once a supplementary
assessment roll is received the City determines the taxes applicable and renders supplementary tax billings
Taxation revenues are recorded at the time tax billings are issued and the effect shared with school boards as
appropriate Assessments and the related property taxes are subject to appeal Tax adjustments as a result of
appeals are recorded when the results of the appeal process are known
Property
tax
Assessment
The
City
is entitled to collect interest and
the interest and
c
penalties
are
penalties
on
overdue taxes These
revenues are
recorded in the
period
levied
RESERVES AND RESERVE FUNDS
Certain amounts
as
approved by Council
are
Transfers to and
or from
capital purposes
respective fund when approved
set aside in reserves and reserve funds for future
reserves
and
reserve
funds
are
recorded
as
an
operating and
adjustment to the
D
2007
OPERATIONS OF SCHOOL BOARDS
2
During 2008
the
behalf of
school boards
area
City
collected and transferred property taxes
097 2007
801
totaling 13
813
050
14
on
CONTRIBUTIONS TO NON
CONSOLIDATED JOINT LOCAL BOARDS
3
Further to Note
i contributions
a
1
were
made
by the City
to the non
consolidated
joint local boards
as
2008
follows
2007
District of Cochrane Social Services Administration
Board
CDSSAB
12
130
647
129
1
927
Porcupine Health Unit PHU
12
621
702
169
1
366
The
City is contingently liable for its share which is approximately 57 2007 57 for the CDSSAB and 54
2007 54 for the PHU of any deficits at the end of the year for these boards Neither board incurred a deficit
in 2008
4
or
2007
TAXES RECEIVABLE
2008
Current year
Arrears
5
previous years
2007
735
0
3
16
028
5
268
784
1
2
65
586
6
899
045
8
003
752
8
683
TRUST FUNDS
746 2007 687
3
by the City amounting to 121
683 have not been included in the
3
Consolidated Statement of Financial Position nor have their operations been included in the Consolidated
Statement of Financial Activities as such balances are held in trust by the City for the benefit of others Separate
Trust funds administered
financial statements which
6
provide details of individual
trusts and
balances
are
prepared for
trust funds
PENSION AGREEMENTS
The
City makes contributions to the Ontario Municipal Employees Retirement System COMERS which is a multi
time and qualifying part
employer plan on behalf of all permanent full
time members of its staff The plan is a
defined benefit plan which specifies the amount of the retirement benefit to be received by the employees based
on the length of service and rates of pay
The amount contributed to OMERS for 2008
was
488 2007
2
155
317
2
404
for current service
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
D
CONT
2007
POST EMPLOYMENT BENEFIT LIABILITY
7
City provides certain employee benefits which will require funding in future periods Under the sick leave
plan unused sick leave can accumulate and eligible employees may become entitled to cash payment
upon termination death or retirement The payout is 50 of the accumulated credits limited to 50 of annual
salary at termination death or retirement The City provides these benefits through an unfunded defined benefit
s financial statements
plan The benefit costs and liabilities related to this plan are included in the City
The
benefit
In
provide health care benefits to eligible full time members in retirement
City provides
through an unfunded defined benefit plan The benefit costs and
to this plan are included in the City
addition the City continues
65
related
With
City
respect
to
these benefits
The
to
responsibilities under provisions of the Workplace Safety and Insurance Board WSIB Act
employer and remits monthly premiums to the WSIB
the
has elected to be treated as a Schedule 1
An actuarial estimate of future liabilities
The
until age
liabilities
following
was
completed
as
of December 31 2004
table sets out the actuarial results for each of the
plans
as
at December
31 2008
2008
2007
Future Benefits
Total Employee
Future Benefits
811
3
494
710
8
065
343
8
617
597
504
597
504
057
555
898
4
571
316
4
091
214
9
662
898
8
674
Retirement Benefits
Other Employee
Future Benefits
Retirement Benefits
Other Employee
Future Benefits
Total
Employee
LIABILITIES
Projected accrued
employee future benefit
obligations end of year
898
4
571
Unamortized Actuarial
Gains
Employee Future
Benefits Liability
Total
Employee
Total
Employee
Future Benefits
Future Benefits
Accrued Benefit
Obligation ABO
beginning of year
711
4
712
631
3
906
343
8
618
732
7
797
cost
000
185
908
6
908
191
482
330
Add interest
949
222
680
172
629
395
245
468
090
221
907
187
710
8
065
343
8
617
Add Benefit
service
Less benefits
090
221
payments
Expected Accrued
Benefit Obligation
of year
end
898
4
571
811
3
494
D
2007
POST EMPLOYMENT BENEFIT LIABILITY CONT
D
7
The accrued benefit
extrapolation of the
assumptions
estimates of
obligations for employee future benefit plans
as
at December
31 2008
are
based on
based
December 31 2004 actuarial valuation These actuarial valuations were
about future events The economic assumptions used in these valuations are the
expected
rates of the
s
City
an
on
best
following
2008
Inflation
0
3
Wage and salary escalation includes inflation
Discount on accrued benefit obligations includes
inflation
Expected average remaining life of employee group
0
4
0
6
14 years
0
5
Dental cost escalation
Health
care
cost escalation
escalate at 10 per year reducing to 5 per year
15 years 5 per year thereafter
Group annuity mortality 1994
Expected future mortality rates
Expected future termination rates
Early future retirement rates
Light Termination Rates
meeting rules
in
10
pension
subsequent years
over
Ontario
25 in the earliest of
for
no
reduction in
Reserve funds have been established to provide for the sick leave and post
employment benefits liabilities and
reported on the Consolidated Statement of Financial Position The sick leave reserve fund balance at the
are
end of the year amounted to 106
405 2007 262
1
359 The
1
balance at the end of the year amounted to 163
880 2007 158
853
employment benefits
post
The actuarial gain is being amortized over the
Amortization for the current year is 50
460 2007
remaining life of the employee
8
expected
50
460
average
reserve
fund
group
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Accounts
payable
and accrued liabilities include financial
obligations
to outside
organizations
and individuals
as a
result of transactions and events on or before the end of the accounting period They are the result of contracts
agreements and legislation in force at the end of the accounting period that require the City to pay for goods and
services acquired or provided on or before the accounting date A breakdown is provided below
2008
Trade accounts payable
Payables to other governments
Other
2007
341
4
7
84
639
3
220
301
3
424
10
584
641
308
102
063
3
901
985
424
14
793
807
13
D
9
2007
DEFERRED REVENUE OBLIGATORY RESERVE FUND
A
requirement of the public sector accounting principles of the Canadian Institute of Chartered Accountants is that
obligatory reserve funds be reported as deferred revenue This requirement is in place as provincial and
municipal legislation restricts how these funds may be used The balances in the obligatory reserve funds are
summarized
as
follows
2008
Balance beginning of year
Development contributions
Recreational land
Investment income
Gasoline tax province
Gasoline tax federal
Transfer to current fund
Transfer to capital fund
Other
expenditures
Balance end of year
Analyzed as follows
Development charges
Recreational land
Gasoline tax Province
Gasoline tax Federal
Canada Transit
10
a
972
5
1
09
000
66
800
29
222
63
081
639
419
1
495
576
2
2
88
500
60
100
30
411
116
091
625
136
1
788
763
7
1
45
626
75
349
571
747
2
494
334
1
832
509
1
972
640
156
794
167
317
419
565
107
774
793
944
133
547
330
545
80
143
190
334
1
832
509
1
972
Funding
TERM LIABILITIES
LONG
The balance of the net
consists of the
term liabilities reported
long
on
the Consolidated Statement of Financial Position
following
2008
Total long
term liabilities incurred by the City
behalf of school boards municipalities and
at the end of the year are as follows
Debentures
payable
to Ontario Infrastructure
2007
including those incurred on
Municipal enterprises and
outstanding
Other
2007
Projects Corporation
995
9
555
000
300
10
325
17
325
17
880
012
10
325
317
10
D
10
TERM LIABILITIES
LONG
2007
D
CONT
Of the net long
794
1
term liabilities and obligations under capital lease reported in a of this note 992
217 thereafter All of these amounts are
8
principal payments are payable from 2009 to 2013 and 888
payable from general revenues
b
in
payable to Ontario Infrastructure Projects Corporation was incurred to finance the construction
annual payments of
Building and a new medical building The loan will be repaid in semi
and
bears
interest
at 5
15 All of these amounts are payable from general operations
415
513
c
The loan
of the Timmins Police
The long
d
term liabilities in a issued in the name of the City have been approved by by
law The annual
principal and interest payments required to service these liabilities are within the annual debt repayments limit
prescribed by the Ministry of Municipal Affairs and Housing
The City has no contingent liability for long
e
term liabilities with respect to the drainage and shoreline
property assistance loans and for those for which the responsibility for the payment of principal and interest has
been assumed by municipalities school boards and unconsolidated local boards enterprises and utilities
f
11
The
Interest expense
on
term
long
liabilities in 2008 amounted to 526
580
2007
NIL
MUNICIPAL FUND BALANCES END OF YEAR
s fund balances
City
are
comprised of the following
2008
2007
FOR GENERAL REDUCTION INCREASE OF TAXATION
The Board of Management of the Downtown
Timmins Business Improvement Area
The Timmins Gold Mine Tour and Museum
The Timmins Economic
Provincial Offences Act
Development Corporation
007
6
29
822
385
215
FOR GENERAL REDUCTION OF USER CHARGES
The Water Supply System
The Sanitary Sewer System
CURRENT FUND TOTAL
iii
iv
Acquisition of capital assets to be
through taxation or user charges
Reserves and
reserve
funds
610
76
932
624
178
ii
801
5
232
3
503
648
872
809
70
856
4
844
149
1
328
359
2
855
707
3
516
181
2
231
636
3
707
622
607
10
695
435
10
029
605
15
891
543
11
recovered
Schedule C
816
2
176
528
2
511
D
12
2007
AMOUNTS TO BE RECOVERED
Amounts to be recovered represent assets not satisfying the definition of an asset under PSAB recommendations
and liabilities established for accrual accounting purposes In some cases reserves and reserve funds have
In other cases the liabilities are to be funded from future years
been established to fund these amounts
budgetary allocations The balance is comprised of the following items
Employee benefit obligations
Inventory and prepaid expenses
term debt
Long
Amounts to be recovered
To be recovered from
reserve
To be recovered from future
13
funds
on
hand
revenues
2008
2007
662
2
9
14
078
1
441
118
013
10
674
8
8
98
095
993
325
317
10
20
221
306
568
1
986
094
209
20
235
737
18
979
690
18
518
1
115
EXPENDITURES BY OBJECT CURRENT FUND
The following is a summary of the current fund
Activities by object
expenditures reported
on
the Consolidated Statement of Financial
2008
Salaries wages and fringe benefits
2007
758
546
48
External transfers
51
702
273
580
526
856
503
21
709
3
416
281
4
187
034
905
13
Total Current Expenditures
775
199
95
325
931
97
Interest on net long
term debt
Materials and supplies
charges
Contracted services
Rents and financial expenses
14
22
575
008
991
9
446
078
3
955
591
305
14
BUDGET FIGURES
The
City completes separate budget reviews for its operating and capital budgets each year The approved
operating budget for 2008 is reflected on the Schedule of Consolidated Current Fund Operations Budgets
established for Capital Funds Reserves and Reserve Funds are based on aproject
oriented basis the costs of
which may be carried out over one or more years and funding is determined annually and made by transfers from
individual funds and by the application of applicable grants or other funds available to capital projects or reserve
funds During 2008 Council approved net transfers of 775
836 2007 659
036 from reserves and reserve
1
funds for capital projects As such they are not directly comparable with current year actual amounts and
budgets have therefore not been reflected on the Consolidated Statement of Financial Activities
15
PROVINCIAL OFFENCES ADMINISTRATION
The Provincial Offences Act
POA is a procedural law for administering and prosecuting provincial offences
including those committed under the Highway Traffic Act Compulsory Automobile Insurance Act Trespass to
Property Act Liquor Licence Act Municipal By
laws and minor federal offences
D
2007
PROVINCIAL OFFENCES ADMINISTRATION CONT
D
15
The revenues collected consist of fines levied under Parts I and III for POA
for the year ended December 31 2008 2007 816
220
1
The
operating
charges and amounted
to
760
946
costs for the administration of the POA for the year ending December 31 2008 amount to
690 2007 901
448 resulting in a net contribution of 591
319
368 exclusive of capital
070 2007
355
costs
The
s share is
City
81
16
FINANCIAL INSTRUMENTS
a
FAIR VALUE OF FINANCIAL INSTRUMENTS
The carrying amounts of cash investments accounts receivable taxes receivable accounts payable accrued
liabilities and long
term maturities of these instruments
term liabilities approximate their fair value due to short
b
CREDIT RISK
The
City does not have significant exposure to any individual or party due to the fact that municipalities can obtain
liens on properties for any unpaid realty taxes An allowance for doubtful accounts is established based upon
factors surrounding the risk related to specific ratepayers historical trends and other information
c
INTEREST RATE RISK
Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the
interest rates The company is exposed to interest rate risk primarily through its floating rate line of credit
17
BANK INDEBTEDNESS
The City has a credit facility agreement with a Canadian Financial Institution at a floating interest rate of
less 3
0
87 At year end the City utilized NIL amount under this facility agreement
18
prime
OTHER CONTINGENCIES
In additions to those
contingencies mentioned in Note 3 the City is involved in a number of claims and possible
result of normal on going operations Management of the City is of the opinion that these
without merit No provision has been made in these statements to reflect any of these claims Any
claims which
claims are
settlements
are as a
or
awards which may arise will be reflected in the financial records in the year that the amount has
been determined
In the eventuality that the City is unsuccessful in defending some of these claims amounts are available in
existing reserves and reserve funds Management is of the opinion that the reserves and reserve funds are
sufficient to
19
cover
these claims
LANDFILL CLOSURE AND POST
CLOSURE LIABILITY
Landfill closure and post
closure care requirements are outlined in the Certificate of Approval filed with the
of
the
Environment
and Energy Closure will involve capping of the site with a compacted impermeable
Ministry
re of a vegetative cover and the construction of surface drainage
layer of topsoil the introduction
care will involve routine inspections cap maintenance groundwater and well sampling and
analysis The reported liability is based on estimates and assumptions with respect to events extending over a
five year period using the best information available to management Future events may result in significant
forty
changes to the estimated total expenditures capacity used or total capacity and the estimated liability and would
be recognized prospectively as a change in estimate when applicable
clay layer
controls
a
closure
Post
D
2007
LANDFILL CLOSURE AND POST
CLOSURE LIABILITY
19
D
CONT
Estimated total expenditures represent the sum of the discounted future cash flows for closure and post
closure
activities discounted at the City
s average long
term borrowing rate of 5 Total landfill closure and post
closure care expenditures are estimated at 250
000 It is estimated that the total net present value of the cost to
close and maintain the landfill site is approximately 254
781 Currently 56
575 has been accrued as a liability
To date approximately 25 of the site
s capacity has been used The estimated remaining capacity of the landfill
care
site is 75
which the
500 tonnes of its total estimated capacity and its estimated remaining life is
892
period for post
closure care is estimated to be 20 years
32 years after
SEGMENTED INFORMATION
20
The Corporation of the City of Timmins is a diversified municipal government that provides a wide range of
services to its citizens including fire public transit water roads and works operations parks recreation culture
planning development and building services For management reporting purposes the City
s operations and
activities are organized and reported by fund Funds were created for the purpose of recording specific activities
to attain certain objectives in accordance with special regulations restrictions or limitations
The
s services are provided by departments and their activities are recorded in these funds Certain
City
departments that have been disclosed in the segmented information along with the services they provide are as
follows
GENERAL GOVERNMENT
This segment reflects the administrative operations of the City
Those costs that relate
administration of the various segments have been allocated to the appropriate segment
directly
to
the
PROTECTION SERVICES
Protection is
comprised of the Police Service and Fire Paramedic Service departments The mandate of the
department is to ensure the safety of the lives and property of citizens preserve peace and good
order prevent crimes from occurring detect offenders and enforce the law The Fire Service department is
responsible for providing fire suppression service fire prevention programs and training and education related to
prevention detection or extinguishment of fires
Police Service
TRANSPORTATION SERVICES
The Public Works
department is responsible for the delivery of municipal public works services related to the
planning development and maintenance of roadway systems the maintenance of parks and open space and
street lighting
The Transit
The
department is responsible for providing local public transportation service
City also operates the Timmins Airport which services Timmins
ENVIRONMENTAL SERVICES
The Water and Waste
department consists of three distinct utilities water wastewater and solid waste disposal
department provides drinking water to citizens of Timmins collecting and treating wastewater and providing
collection disposal and waste minimization programs and facilities for solid waste Their land drainage and
garbage collection operations are reported in the General Revenue Fund and are included in the Public Works
The
and Water segment
D
20
2007
SEGMENTED INFORMATION CONT
D
HEALTH SERVICES
The
City provides cemetery services
to its citizens
It also contributes to the provision of public health and ambulance services to the community These services
provided by the Porcupine Health Unit and the Cochrane District Social Services Administration Board
are
SOCIAL AND FAMILY SERVICES
The
City operates
a
nursing
home which
provides
The
care
City also contributes to the Cochrane District
general assistance to individuals in the community
to
elderly
individuals in the
community
Social Services Administration Board for the
provision
of
RECREATION AND CULTURAL SERVICES
The
Community Services department provides public services that contribute to neighbourhood development and
sustainability through the provision of recreation and leisure services such as fitness and aquatic programs The
department also contributes towards the information needs of the City
s citizens through the provision of library
services
PLANNING AND DEVELOPMENT
The
Planning Property and Development department provides a diverse bundle of services It manages urban
development for business interests environmental concerns heritage matters local neighbourhoods and the
downtown through city planning community development parks and riverbank planning It ensures an acceptable
quality of building construction and maintenance of properties through enforcement of construction codes and
building standards It facilitates economic development by providing services for the approval of all land
development plans the processing of building permit applications and the provision of geomatics services as
well as providing cemetery services to citizens
For each
reported segment
segment and
employed
revenues
and expenses represent both amounts that are directly attributable to the
Therefore certain allocation methodologies are
amounts that are allocated on a reasonable basis
in the
preparation of segmented financial information Taxation and payments
lieu of taxes certain
in
revenues are apportioned to the segments have been
government transfers transfer from other funds and other
apportioned based on a percentage of expenses
The
accounting
used in these segments are consistent with those followed in the
as disclosed in Note 1
financial statements
preparation
of the consolidated
SCHEDULE A
SCHEDULE OF CONSOLIDATED CURRENT FUND OPERATIONS
2008
BUDGET
2008
ACTUAL
2007
ACTUAL
562
218
67
108
579
77
602
711
72
234
3
400
14
264
558
400
374
14
924
102
26
224
939
069
51
25
696
028
620
000
875
641
10
043
259
235
2
2
44
774
3
653
048
220
572
0
2
02
819
4
067
501
647
110
187
899
110
054
833
104
772
9
875
20
280
179
026
504
23
103
8
545
654
4
149
591
686
22
055
8
400
701
2
875
520
7
396
18
960
213
655
138
20
136
340
12
417
5
984
550
939
21
863
6
105
765
2
989
458
7
512
17
149
847
689
158
25
810
529
12
302
4
158
631
460
21
736
6
641
437
2
735
741
657
99
775
199
95
325
931
97
760
989
10
412
699
15
901
6
729
REVENUE
TAXATION AND USER CHARGES
Net municipal taxation and user charges
GRANTS
Province of Ontario
Other
Investment income
Fines and
Other
penalties
NET MUNICIPAL REVENUE
EXPENDITURE
General government
Health services
NET REVENUE
FINANCING AND TRANSFERS
Proceeds from the issuance
Employee benefits
Net transfer to reserves and
Transfers to
repayment of long
term debt
reserve
capital operations
funds
200
324
10
560
665
Changes in prepaid and inventory
760
989
10
304
445
989
315
749
4
725
591
9
338
583
85
325
17
560
360
991
3
1
83
461
5
999
984
34
936
243
14
233
6
321
CHANGE IN CURRENT FUND
CURRENT FUND beginning of year
455
1
476
707
6
3
36
408
668
115
3
4
05
CURRENT FUND end of year
181
2
231
636
3
707
Unaudited
SCHEDULE B
SCHEDULE OF CONSOLIDATED CAPITAL FUND OPERATIONS
2008
2007
REVENUE
Canada grants
Ontario grants
Other
448
359
11
664
348
882
474
715
0
4
83
835
7
620
434
606
994
182
12
769
525
12
610
63
636
662
250
7
490
127
202
13
895
155
975
38
452
742
884
631
096
1
890
431
2
9
51
303
798
787
586
14
537
539
328
88
761
1
041
062
831
095
722
22
379
953
28
101
539
10
610
427
16
EXPENDITURE
General government
Health services
NET EXPENDITURE
Repayment
of
term
long
debt
Net transfers from current fund
Net transfers from reserves and
000
160
reserve
funds
338
5
9
91
836
775
999
4
5
61
036
1
659
000
300
10
174
367
10
658
638
16
927
171
10
695
435
743
646
10
622
607
10
695
435
10
Issue of debentures
CHANGE IN CAPITAL FUND BALANCE
CAPITAL FUND BALANCE
beginning of year
CAPITAL FUND BALANCE end of year
048
211
SCHEDULE C
SCHEDULE OF CONSOLIDATED RESERVES AND RESERVE FUNDS
2008
2007
REVENUE
Interest earned
249
87
NET TRANSFERS FROM
202
78
TO OTHER FUNDS
Transfers from current fund
Transfers to capital fund
749
4
725
TOTAL NET TRANSFER
973
3
889
332
347
CHANGE IN RESERVE AND RESERVE FUND BALANCE
RESERVE AND RESERVE FUND BALANCE beginning of year
061
4
138
11
891
543
534
425
11
357
118
RESERVE AND RESERVE FUND BALANCE end of year
029
605
15
891
543
11
2008
2007
836
775
383
1
991
036
1
659
ANALYZED AS FOLLOWS
RESERVES SET ASIDE FOR SPECIFIC PURPOSE
For
acquisition of fixed assets
Forworking capital
For undesignated projects
For other designated projects
942
650
447
3
2
61
930
914
636
711
10
992
0
2
64
475
618
684
6
729
Total
071
337
13
368
9
196
For post
employment benefits
106
4
1
05
972
698
880
163
262
3
1
59
580
657
853
158
Total
reserve
267
2
958
175
2
695
Total
reserves
029
605
15
891
543
11
reserves
RESERVE FUNDS SET ASIDE FOR SPECIFIC PURPOSE
For sick leave
For other designated
projects
funds
and
reserve
funds
J
pp
O
NQ
P
r N
0f0 f0
ODNM
O
M
R
r
ODRrO
P
O
O
OOOD
MOOD
M P O
O
f0
MfOMOr
PNOOODO
N
N
r
M
NP N
r
rMRM
P
f0W W
M N
O P fO P R
OOD ODM
r
N
N
N
N
r
r
fA
Z
W
J
O
n n
Q
d d
00
Z
o
W
v
d
J
W
V
D
Z Z
Q W
NNCfl
WI
I
NLnM
O
M
N
I
0NM
Nn
MCflN
W d
W
M00
6
M
O
OI
n
d
ij
r
V
r
IX
9
C
N
n
n
rO
N
r
r
r
M
r
r
Nnn
0
ZU
Q
MMd
r
UJ
IOM
a
ZO
Z
w
Z
QW
W
r
d
N
6
d D
EA
0
J
otS
U
W
On
O
WOMM
O
U
O
T
N
V
CM9
MO
O
nd
CN9
r
0
O
O
N
00
M00
M
d
O
6
W
r
O
Lf
N
d
EA
D
Z
I
QJU
Ln 0
0000
0 M 0
U
O
W Wd
QJ
MrM
0
d
M d Cfl
N0
d
OMCfl
M
M
0
N d OO Ln M N d OO In
0N00NN000
00
r0NNMrNd
O
0
M
I
r
n
N O
M Ln M O In
d
N0N
rr
MW
CL
CL
I
r
W
O
0
O
O
0
n M
N
W d 00 0
0CflN0
M 0 W O
Ln N
0Ln
d
NLnNM
0
ON
r
M
C
IX
W n
n
N
W
W
n
2 W
U
J
O M
MC09
I
W
2 W
N
r
r
CL
Lf
M
r
U
J
Q
Z U
N OO N
d
Wd
Ln W d
N
d
N Ln 0
Cfl
I
d
Ln M l
Ln l
N
d
Cfl r
O
O
W
N W W
0
O
ijN
r
N
N
W
N W
CM9
N
C09
I
O
Ln
N
r
Lf
T00
d
r
N
100
00r
NCflO
0
O
O
C
C
W
d
M M
d
O
OM
M
0d
UW
Z U
00000
LnnO
Nod
N
O
W
Z
O oC
0
I
C
T
Z
W
Z
O
n
Q
W
U
M
IOM
0d 0
I W 0
MO
Cfl0
Nd
O
d
N
d
d
O
0
N W N
CflN d
0Ln0
W O
Nln
NN
T
MOIL
O
0
LnrM
WIC
r
M
Lf
Lf
d
C
r
Q
CZ
CG
LC
Z
Ow
U
U
W
r
I
OCflMN 00r0N
Cfl Ln00NMd
Cfl0
rlnrCfl OI
NNCfl
O
0
M
C
d
C
NrCijrrCfl
I
Nd
Cfl
h
OMIT
MO
d
MNO
W
LnMNMNd ISM
Ln
Ln d
d
MNLn Cfl
0 Ln N
0
d
WI
O
MI
OM
d
O
N
W
0
rn
I
0000 d
N OLn
d
IX
CL
N
OW
U
d
U
W
J
M
2
Z
LO
Z
W
ZW
W
O
Z
W
Cm
Q
O
M I n
N0N
WW0
n
r
M
d
d
M
O
0
d
CL
I
N
h
Ln O M
n
00
rT
I
d
M
MCfl
O
M
N
N
T
Cfl
C
EA
G
W
V
C
in
W
i
C
0
Z
w
a
w
U
C
who
C70
oC
N
0
U
U
N
W
U
N O
Lnr
NCO
0
0
r
a
r
U
i
O
U
0
c2f
U
O
03
0
C
Q
O
X
o
a
U
nJ
U
J
W
W
QQ u
TRUST FUNDS
2007
Ross Pope
Company
LLP
Telephone 705
Fax 705
Timmins Ontario
9484
264
0788
264
Mail
E
informQa rosspope
com
Website rosspope
www
com
P4N 2G7
AUDITORS REPORT
the Corporation of the City of Timmins
Ratepayers of the
We have audited the statement of financial position of the Trust Funds of the the Corporation of the City
of Timmins as at December 31 2008 and the statement of continuity of the Trust Funds for the year then
ended These financial statements are the responsibility of the Trust
s management Our
opinion on these financial statements based on our audit
responsibility is
to express an
We conducted our audit in accordance with Canadian generally accepted auditing standards Those
standards require that we plan and perform an audit to obtain reasonable assurance whether the financial
An audit includes examining on a test basis evidence
the amounts and disclosures in the financial statements An audit also includes assessing the
statements are free of material misstatement
supporting
accounting principles used and significant estimates made by management
overall financial statement presentation
In
as
well
as
evaluating the
opinion these financial statements present fairly in all material respects the financial position of
Corporation of the City of Timmins as at December 31 2008 and the continuity of
funds for the year then ended in accordance with Canadian generally accounting principles
our
the Trust Funds of the
trust
5
Timmins Ontario
September 25 2009
d2
Ross Pope
Ga
Company
LLB
LLP
Chartered Accounts
Licensed Public Accountant
r
o
Z
0
13J
j
0
N
w
J
1
a
r
Q
M
o
T
v
a
2
o
Q
p
l
pp
r
64
s
U
t
O
U
4
a
C
O
Ln
r
N
N
63
EE
L
LL
J
J
C
O
cfl
t
C6
r
ff3
O
O
O
L
O
N
O
43
m2
O
cs
U
M
ER
r
O
h
C
U7 G
r
N
W
o
l
Efl
I
M
Cn
T
O
9
U
69
a a
v
C
C3
r
pQ
7
N
Z
f3a
r
t
r
C
N
u
cYi
L
Q
P
LL
5f3
L
r
C
C
O
Z
U
a
N
O
h
C
a
t
Z
Z
N
p
H
p
69
LEJ
r
Z
LL
W
m
U
F
t1
a
N
a
N
N
r
r
a
r
M
r
N
c
UU
W
LL
r
1
of
ZZp
a
t6
3
C
O
Z
W
w
Q
w
Z
C
c
a
c
a
J
Z
Z
O
O
s
c
Z
w
vi
I
U
0L
nn
a
v
4
d
O
0
U
0
wj
Iii
a
Q
m
N
H
Z
W
C
u
O
O
O
O
In
In
CrJ
I
In
O
U
j
N
W
N
N
Ef
Efl
W U I
H
Q
H
N
67
O
67
CO
u
I
CD
N
M
O
Ef
Efl
F
00
O
00
u
d0
CrJ
CrJ
F
CrJ
O
CrJ
CrJ
I
O
Ef
Efl
U
u
A
L
C7
C
O
O
In
N
N
F
N
CD
D
o i
LL
S
J
I
C
j
N
67
r
r
r
O
N
N
CrJ
N
N
CrJ 67
N CO
CO
N
00
00
O
67
00
CO
00
CO
Ln
67
00 N
O
N
N
67
r
N
i
C
O
O
LL
N
i
t
Q
i
I
N d
N
4
Il
m
A
O
F
O
u
O
4
Ef
O
O
O
N
Q
j
r
C
O
H
In
C7
M
T
I
N
i
67
67
N
M
07
C7
i
c
c
Ea
O
M
C7
CO
U
00
t
N
67
N
M
CO
67
00
00
Ln
CD
Ln
N
N
C
I
r
CO
00
CO
N
LL
O
UU
0
c
N
U
Ln
i
N
N
O
67
r
d
U
LL
r
C7
O
Qu
H
In
M
O
O
Z
Ln
N
i
N Z
a
A
CO
N
00
i
U
N
CD
U I
N
iq
Efl
O
O
c
Q
C7
i
Ea
T
W
M
W
LL
O
CO
E
F
O
Z
I
67
r
67
In
H M O
CD
67
N
D
67
O 00 I
CO
Ln
CO
e
M
67
N
r
r
U
M
W
Ln
I
In
Ln
N
00
CrJ 00
I O
CrJ CO
O
Q7
CrJ N
CrJ
N
00
CO
vj
O
Ef
W
p
N
O
i
a
U
W
Z
w
O
O
O
C
C
W
O
O
W
O
W
vi
N
N
O
c
c
Q
O
O
O
p
U
W
c
U
a
0
U
U
Q
Q
C
Q
O
m
U
W
c
0
N
U
0 0
os
U
o
E
C
X ca
c
w
o
N
Q
x
Q
m
w
o
O
a
a
a
TRUST FUNDS
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31 2006
ACCOUNTING POLICIES
BASIS OF ACCOUNTING
Revenues and
expenditures on the Statement of Continuity are reported on the accrual basis of accounting
recognizes revenues as they become available and measurable and expenditures as they are incurred and
measurable as a result of the receipts of goods
services and the creation of a legal obligation to pay
which
ONTARIO HOME RENEWAL PROGRAM
2
The Ontario Home Renewal
Program
was
established
by
the Ontario
Ministry
of
Housing
in 1973 to
provide
grants for municipalities to make loans to assist owner occupants to repair rehabilitate and improve their homes
to local property standards Individual loans are limited to 7
500 of which the maximum forgivable portion is
000
4
Ontario Home Renewal
612
82
2007
Program
loans receivable at December 31 2008 comprise repayable loans of 80
655
or lease of the home or in the event of the homeowner ceasing to
In the event of the sale
occupy the home the balances of the
and payable by the homeowner
3
The
loan and the unearned
forgivable
loan
immediately
become due
fund
approximate
INVESTMENTS
Investments
4
repayable
are
recorded at the lower of cost and market value
carrying
amounts of
cash investments
accounts receivable and due
their fair value due to short
to
from
revenue
BOARD OF MANAGEMENT
OF THE DOWNTOWN TIMMINS
2007
Ross Pope
Company
LLP
9484
Telephone 705 264
Fax 705
0788
264
Email informQa rosspope
com
Timmins Ontario P4N 2G7
www
rosspope com
AUDITORS REPORT
To the Members of Council and the Board of
Area
We have audited the statement of financial
Management of the Downtown Timmins Business Improvement
position
of the Board of
Management
of the Downtown Timmins
Business Improvement Area as at December 31 2008 and the statements of financial activities and cash
flows for the year then ended These financial statements are the responsibility of the Board
s management
Our responsibility is to express an opinion on these financial statements based on our audit
Except as explained in the following paragraph we conducted our audit in accordance with Canadian
generally accepted auditing standards Those standards require that we plan and perform an audit to obtain
reasonable
assurance
examining
on a
audit
test
whether the financial statements
basis evidence supporting the
also
includes
management as well
are
free of material misstatement An audit includes
An
amounts and disclosures in the financial statements
assessing the accounting principles used and significant estimates made by
evaluating the overall financial statement presentation
as
In common with many non
profit organizations the organization derives revenue from ticket sales donations
and activities the completeness of which is not susceptible of satisfactory audit verification Accordingly our
verification of these revenues was limited to the amounts recorded in the records of the organization and we
were not able to determine whether any adjustments might be necessary to the above revenue excess of
revenue over
In
expenditures
assets and
surplus
opinion except for the effect of adjustments if any which we might have determined to be necessary
been able to satisfy ourselves concerning the completeness of the revenue referred to in the
preceding paragraph these financial statements present fairly in all material respects the financial position
of the Board of Management of Downtown Timmins Business Improvement Area as at December 31 2008
and the results of its operations for the year then ended in accordance with Canadian generally accepted
accounting principles
our
had
we
12
I
c6S
Timmins Ontario
April 8
2009
yR
q
tp
LLP
O
Ross Pope
Company
LLP
STATEMENT 1
STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31
2008
2007
ASSETS
CURRENT ASSETS
Cash
Accounts receivable
Pre aid
ex
enditures
8
8
51
679
9
812
10
600
600
130
19
712
14
352
12
460
7
523
523
875
12
983
7
6
0
07
262
2
000
10
801
5
530
2
10
000
255
6
729
6
130
19
712
14
300
3
LIABILITIES
CURRENT LIABILITIES
Downtown dollars
BOARD POSITION
OPERATING FUND Schedule A
CAPITAL FUND Schedule B
RESERVES FOR WORKING CAPITAL
FUND BALANCES
Approved by
4
r
Director
tor
Dlr
See
accompanying
Hates
STATEMENT 2
STATEMENT OF FINANCIAL ACTIVITIES
2008
2007
116
159
475
9
417
5
262
2
275
3
117
302
796
7
100
3
169
1
100
3
466
228
054
137
695
132
Beautification
35
658
271
23
825
2
27
551
839
22
570
2
Capital expenditures
Tax levy written off Note 2
Wages and benefits
268
356
3
7
63
743
71
3
6
79
329
70
528
137
324
127
REVENUES
Tax
levy Note 2
Fundraising
Grants and subsidies
Voucher administrative fees
Membership dues
Other
EXPENDITURES
Administration
Advertising and
promotion
CHANGE IN BOARD POSITION
DECREASE IN LONG
TERM DEBT also
amounts to be recovered
474
being
change in
598
10
See
accompanying
notes
371
5
474
3
227
5
STATEMENT 3
STATEMENT OF CASH FLOWS
2008
CHANGE IN BOARD POSITION
474
USES
Decrease in accounts payable
Decrease in deferred revenue
SOURCES
Increase in accounts
2007
371
5
379
6
710
749
107
5
payable
892
4
CASH PROVIDED BY USED IN OPERATING ACTIVITIES
961
1
019
9
Repayment of long
term debt
598
10
CASH USED IN FINANCING ACTIVITIES
598
10
CHANGE IN CASH
CASH beginning of year
CASH end of
year
961
1
10
812
391
12
851
8
812
10
851
8
812
10
579
1
SUPPLEMENTARY INFORMATION
Interest
See
paid
accompanying
notes
4
2007
NATURE OF OPERATIONS
The Board of Management of the Downtown Timmins Business Improvement Area Downtown Timmins was
established by City of Timmins By
1145
The organization incorporated without share capital
Law No 1978
operates
exciting
as
profit organization and is dedicated
anon
downtown
to
promoting
an
economically strong safe attractive and
area
ACCOUNTING POLICIES
The financial statements of Downtown Timmins are the representation of management and
accordance with the Public Sector Accounting Board PSAB accounting recommendations
a
are
prepared
in
REVENUE RECOGNITION
The
organization follows the deferral method of accounting for memberships and grant revenue which are
recognized as revenue when received or receivable if the amount to be received can be reasonably estimated and
collection is reasonably assured
b
ACCRUAL ACCOUNTING
The financial statements of Downtown Timmins have been
c
CAPITAL ASSETS
Capital items purchased
d
are
recorded
as
expenditures
in the
e
capital fund
in the year of
acquisition
CONTRIBUTED SERVICES
Volunteers contribute to assist the Downtown Timmins in
services
prepared using the accrual basis of accounting
are
not
recognized
carrying
out its service
in the financial statements because of the
difficulty
of
delivery activities Contributed
determining their fair value
USE OF ESTIMATES
requires management to make estimates and assumptions that affect the reported amount of assets and liabilities
disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the period Actual results could differ from these estimates
The
f
FUND ACCOUNTING
expenditures relating to organization administrative activities are reported in the general operating
capital fund has been set up to recognize the cost of capital assets purchased No amortization is
recorded in respect of these assets Reserves for working capital as approved by the board are amounts set aside
for future operating purposes
Revenues and
fund The
2
TAX LEVY AND TAX LEVY WRITTEN OFF
The Board
required
requisitions the City of Timmins annually for the amount of the levy The City calculates the percentage
levy using the assessed value of property in the Improvement Area The levy appears on the
to raise the
members
or
members landlords property tax bills
Tax levy written off results from reductions in assessments as a result of appeals by property
difference between the original levy and the revised levy as a result of a successful appeal causes
years with excessive write offs the Board has
negotiated its share with the City of Timmins
5
owners
a
The
In
write off
3
D
CONT
2007
The Board
s financial instruments consist of cash accounts receivable accounts payable and accrued liabilities
and downtown dollars Unless otherwise noted it is management
s opinion that the organization is not exposed to
significant interest currency or credit risks arising from these financial instruments The fair value of these financial
instruments approximate their carrying values unless otherwise noted
4
BUDGET FIGURES
Budget figures for the operating fund have been provided for comparison
budget approved by the Board The budget figures are unaudited
6
purposes and have been derived from the
Operated by the Corporation of the City of Timmins
2007
Ross Pope
Company
LLP
Telephone 705
Fax 705
Timmins Ontario
9484
264
0788
264
Mail
E
informQa rosspope
com
Website rosspope
www
com
P4N 2G7
AUDITORS REPORT
Ratepayers
position
as
at December
ended
of the
of the Timmins Economic
Development Corporation
31 2008 and the
These financial
statements of financial activities and cash flows for the year then
statements are the responsibility of the Corporation
s management Our
responsibility is
to express an
We conducted
our
standards
audit to obtain reasonable assurance whether the financial
free of material misstatement An audit includes examining on a test basis evidence
on
these financial statements based
require that
statements are
opinion
we
plan and perform
on our
audit
standards
Those
an
supporting the amounts and disclosures in the financial statements An audit also includes assessing the
accounting principles used and significant estimates made by management as well as evaluating the
In
fairly in all material respects the financial position of
Development Corporation as at December 31 2008 and the results of its
operations and its cash flows for the year then ended in accordance with Canadian generally accepted
our
opinion
these financial statements present
the Timmins Economic
l y ttP
oss
Timmins Ontario
August 25 2009
Ross Pope
Company
LLP
STATEMENT 1
Operated by
the
AS AT DECEMBER 31
2oas
Zoo
FINANCIAL ASST
TS
Due from the
City of Timmins
180
562
382
52
Accounts receivable
001
65
44
604
944
232
605
109
733
12
52
485
650
8
218
65
025
12
NG FUND
OPERAT
72G
167
580
97
TOTAL LIABILITIES AND MUNICIPAL POSITION
944
232
605
109
LIABILITIES
Accrued vacation
Deferred
payable
revenue
TOTAL LIABILITIES
375
3
MLlNICIAAL POSITION
Approved by
Director
See
accompanying
Director
Hates
STATEMENT 2
BUDGET
2008
2007
783
875
500
54
300
23
783
875
001
227
911
101
747
000
664
185
373
3
675
861
112
1
787
037
936
000
3
947
36
794
39
675
864
149
1
734
831
975
Administration
700
188
450
50
664
488
294
146
754
34
592
48
237
685
694
160
Capital expenditures
Promotion and advertising
Salaries and employee benefits
Study cost
500
14
859
16
008
49
549
045
053
105
723
14
138
918
079
1
588
523
878
70
146
580
97
308
97
685
92
222
39
726
167
580
97
REVENUES
GRANTS
City of Timmins
Province of Ontario
OTHER
Miscellaneous
TOTAL REVENUES
EXPENDITURES
Tourism and receptions
TOTAL EXPENDITURES
OPERATING FUND beginning of year
OPERATING FUND end of year
Unaudited
See
accompanying
notes
463
53
272
STATEMENT 3
2008
2007
OPERATIONS
CHANGE IN OPERATING FUND
SOURCES
Increase in vacation
payable
USES
Increase in due from City of Timmins
Decrease in deferred revenue
NET CHANGE IN CASH also
being CASH end of
corporation paid no interest during the year
The
See
accompanying
notes
146
70
308
97
086
4
531
4
781
7
115
561
110
49
year
13
511
328
88
2007
The Timmins Economic Development Corporation TEDC was established by letters patent dated June 17 1983
The TEDC is a division of the Corporation of the City of Timmins
The corporation promotes economic
acts
as
an
in
initiatives
for
the
and
the
attraction development and sustenance of
development
municipality
agent
businesses which contribute to the economic social and general well being of the community The corporation
also manages the Discover Abitibi Project for the federal and provincial governments The operations to date and
the balance sheet are attached as Schedules A to C The Discover Abitibi Project balances are not consolidated
with the TEDC financial information
1
Development Corporation are prepared by management in
generally accepted accounting principles for local governments as recommended by
the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants Significant aspects of
the accounting policies adopted by the corporation are as follows
The financial statements of the Timmins Economic
accordance with Canadian
a
BASIS OF ACCOUNTING
i
Sources of
financing and expenditures
are
reported
on
the accrual basis of
The accrual basis of accounting recognizes revenues
ii
expenditures are recognized as they are incurred and measurable
the creation of a legal obligation to pay
b
as
accounting
they become available and measurable
result of receipt of goods or services and
as a
CAPITAL ASSETS
The historical cost and accumulated amortization of capital assets are not recorded for municipal purposes
Capital assets are reported as an expenditure on the Statement of Financial Activities in the year of acquisition
c
USE OF ESTIMATES
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 reporting period These have been made using
careful judgment and in light of information available The consolidated financial statements have in
s opinion been properly prepared within reasonable limits of materiality Actual results could differ
management
The
from these estimates
d
the transfer occur
recognized in the financial statements in the period in which the events giving
are
rise to
2
figures contained
Corporation of the City
in these financial statements
are
consolidated into the
operations and
statements of the
of Timmins
ECONOMIC DEPENDENCE
The continued
Provincial and
4
2007
CONSOLIDATION
The
3
D
CONT
operations of the corporation
Municipal governments
DISCOVER ABITIBI PHASE IV
Discover Abitibi Phase IV is
are
dependent upon
its
ability
to secure
financing
from the Federal
DISCOVER ABITIBI PHASE V
seeking project proposals that will form the basis of the business and will
completion of the projects in Phase V The proposals will focus on the Abitibi
area The project is jointly funded by FedNor and Northern Ontario Heritage
Fund Corporation Further revenue has been raised from the private and public sectors The project is being
managed by the corporation and was completed by April 4 2007 The budget figures are for the complete
project The current actual figures are for the period ended December 31 2007
an
initiative
be used to secure funding for the
Greenstone Belt and surrounding
Discover Abitibi Phase V is
pilot geoscience project to stimulate the mining and exploration industry and
strengthen applied
development capacity in the Timmins and surrounding areas The project is
funded
FedNor
and
Northern
Ontario Heritage Fund Corporation Further revenue has been raised from
jointly
by
the private and public sectors The project is being managed by the corporation and is expected to be completed
by December 31 2008 The budget figures are for the complete project The current actual figures are for the
period ended December 31 2008
a
research and
5
PENSION AGREEMENTS
The
corporation makes contributions to the Ontario Municipal Employees Retirement Fund COMERS which is a
multi plan on behalf of all permanent full
employer
time members The plan is a defined
benefit plan which specifies the amount of the retirement benefit to be received by the employees based on the
length of service and rates of pay
The amount contributed to OMERS for 2008 was 35
346 for current service
an expenditure on the Statement of Financial Activities
6
2007
019
29
and is included
as
CONTRIBUTED DATA
The
private sector has contributed proprietary data such as deposit models and regional geological geochemical
geophysical data to the Discover Abitibi project Because of the difficulty in determining the value of such
data it has not been recognized in the financial statements
and
7
The
BUDGET FIGURES
corporation completes separate budget reviews for its operating and capital budgets each year The
approved operating budget for 2008 is reflected on the Statement of Financial Activities The budget established
for the Capital Fund is based on aproject
oriented basis the costs of which may be carried out over one or more
years
8
D
CONT
2007
The company
s financial instruments consist of accounts receivable due from the City of Timmins and accrued
vacation payable
Unless otherwise noted it is s
management opinion that the company is not exposed to
or
credit
risks
significant interest currency
arising from these financial instruments The fair value of these
financial instruments approximate their carrying values unless otherwise noted
Operated by
the
Corporation
of the
City
of
Timmins
2007
Ross Pope
Company
LLP
Telephone 705
Fax 705
Timmins Ontario
Mail
E
P4N 2G7
9484
264
0788
264
informQa rosspope
com
Website www
com
rosspope
AUDITORS REPORT
Ratepayers of the
position of the Timmins Gold Mine Tour and Museum
December 31 2008 and the statements of financial activities and
flows for the year then ended
management
These financial statements
Our
responsibility
is to express
our
an
opinion
are
on
as
at
changes in municipal position and cash
the responsibility of the organization
s
on our
audit
We conducted
standards
require
that
we
plan
and
perform
supporting
generally accepted auditing standards
audit to obtain reasonable
an
An audit includes
assurance
examining
overall financial statement
our
basis evidence
opinion these financial
changes
as
well
as
assessing the
evaluating the
presentation
statements
the Timmins Gold Mine Tour and Museum
the
test
the amounts and disclosures in the financial statements An audit also includes
In
on a
Those
whether the financial
present fairly in all material respects the financial position of
as
at December
31 2008 and the results of its operations and
in its cash flows for the year then ended in accordance with Canadian
generally accepted
SS
0
Timmins Ontario
September 9
2009
C LLP
lyRi
U
Ross Pope
Company
LLP
Licensed Public Accountant
STATEMENTI
Operated by
the
MBER 31
AS AT DECI
2DD8
2007
193
378
954
3
174
090
539
8
332
197
629
182
095
84
101
111
427
281
730
293
249
311
731
293
FINANCIAL ASSETS
Cash
Accounts receivable
FINANCIAL ASSETS
NON
Inventory
LIABILITIES
Due to
City of Timmins
payable
Accrued vacation
1
TOTAL LIABILITIES
249
311
730
293
MIfNtCIPAL POSITION
OPERATING FUND AND MUNICIPAL POSITION
822
29
S AND MUNICIPAL POSITION
TOTAL LIA81LIT11
427
281
Approved by
Mayor
See accompanying notes
uncillor
730
293
STATEMENT 2
STATEMENT OF FINANCIAL ACTIVITIES AND CHANGES IN MUNICIPAL POSITION
2008
2008
2007
BUDGET
ACTUAL
ACTUAL
REVENUES
SALES FEES AND OTHER CHARGES
Admissions
Concessions
Other
82
000
600
13
72
623
495
11
875
2
97
713
143
18
796
5
600
95
993
86
652
121
120
000
000
78
83
658
331
61
102
081
204
66
000
42
327
22
877
35
195
000
000
2
000
6
195
000
170
2
500
2
499
871
240
2
000
3
000
203
670
199
111
505
600
340
990
308
640
662
Utilities
134
500
000
20
400
33
500
67
200
87
156
884
538
22
654
29
622
60
114
69
142
988
825
26
586
40
326
63
332
85
TOTAL EXPENDITURES
600
342
812
338
057
359
822
29
583
303
Sales
Cost of sales
GRANTS
City of Timmins
Province of Ontario
TOTAL REVENUES
EXPENDITURES
Salaries wages and employee benefits
Promotion and
Administration
Materials and
advertising
supplies
000
2
OPERATING FUND AND MUNICIPAL
POSITION beginning of year
583
303
OPERATING FUND AND MUNICIPAL
POSITION end of
year
Unaudited
See
accompanying
notes
000
2
822
29
STATEMENT 3
2008
2007
OPERATIONS
822
29
USES
Decrease in due to City of Timmins
Increase in inventory
154
060
167
15
646
3
SOURCES
Increase in due to City of Timmins
17
519
586
4
005
27
Decrease in inventory
CASH PROVIDED BY OPERATIONS also
CHANGE IN CASH
being
CASH end of year
The
organization paid
See
accompanying
no
interest
notes
during the
583
303
year
288
19
174
090
130
710
380
43
378
193
090
174
2007
The Timmins Gold Mine Tour and Museum was establish by letters patent dated January 21 1994
organization is the operator of the Timmins Underground Gold Mine Tour and the Shania Twain Centre
The
1
The financial statements of the Timmins Gold Mine Tour and Museum
prepared in accordance Canadian generally accepted accounting
recommended
the representation of management
principles for local governments as
are
by the Public Sector Accounting Board PSAB of the Canadian Institute of Chartered
more significant of these accounting policies are summarized below
Accountants The
The focus of PSAB financial statements is on the financial position of the Timmins Gold Mine Tour and Museum
and the changes thereto The Statement of Financial Position reports the assets and liabilities of the Timmins
Gold Mine Tour and Museum Financial assets are those assets which could provide resources to discharge
existing liabilities or finance future operations Municipal position represents the financial position and is the
difference between assets and liabilities
s overall future
Museum
revenue
requirements
a
BASIS OF ACCOUNTING
i
Sources of
financing
and
This
expenditures
provides information about the Timmins Gold Mine Tour and
ability to finance activities and meet its obligations
and its
are
reported
on
the accrual basis of
The accrual basis of accounting recognizes revenues
ii
expenditures are recognized as they are incurred and measurable
as
accounting
they become available and measurable
result of receipt of goods or services and
as a
CAPITAL ASSETS
b
The historical cost and accumulated amortization of capital assets are not recorded for municipal purposes
Capital assets are reported as an expenditure on the Statement of Financial Activities in the year of acquisition
For those
an
capital assets financed by the issue of long
term debt which remains outstanding at year end there is
offsetting amount included in amounts to be recovered in the future years on the Consolidated Statement of
Financial Position
c
INVENTORY
Inventory for resale is valued
inventory
d
recognized in the financial statements in the period in which the events giving rise
the transfer occur
e
at the lower of cost and net realizable value FIFO is used to determine cost of
are
USE OF ESTIMATES
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 reporting period These have been made using
careful judgment and in light of information available The consolidated financial statements have in
s opinion been properly prepared within reasonable limits of materiality Actual results could differ
management
The
from these estimates
to
2
2007
CONSOLIDATION
The
figures contained
Corporation of the City
3
D
CONT
in these financial statements
are
consolidated into the
operations and
statements of the
of Timmins
PENSION AGREEMENTS
The Timmins Gold Mine Tour and Museum makes contributions to the Ontario
Municipal Employees
Retirement
Fund COMERS which is amulti
employer plan on behalf all permanent full
time
members The plan is a defined benefit plan which specifies the amount of the retirement benefit to be received
by the employees based on the length of service and rates of pay
4
was
971 for
4
current service
2007
565
4
The Timmins Gold Mine Tour and Museum
s
carrying value of cash accounts receivable and due to City of
approximates its fair value due to the immediate or short term maturity of these instruments It is
s opinion that the organization is not exposed to significant interest currency or credit risks arising
management
Timmins
from these financial instruments
2007
Ross Pope
Company
LLP
Telephone 705
Fax 705
Timmins Ontario
9484
264
0788
264
Mail informQa com
E
rosspope
Website www
com
rosspope
P4N 2G7
AUDITORS REPORT
To the Board of Health for the
We have audited the statement of financial position of the Porcupine Health Unit as at December 31
2008 and the statements of financial activities and cash flows for the year then ended These financial
statements are the
opinion
on
s management
responsibility of the Health Unit
these financial statements based on our audit
Our
responsibility is
to express an
principles used and significant estimates made by management as well as evaluating the
supporting
accounting
overall financial statement
presentation
In our opinion these financial statements present fairly in all material respects the financial position of
the Health Unit as at December 31 2008 and the results of its financial activities and cash flows for the
year then ended in accordance with Canadian generally accepted accounting principles
Timmins Ontario
March 22 2009 except
as of August 31 2009
Ross Pope
as
to Note 3 which is
Company
LLP
STATEMENT 1
AS AT DECEMBER 31
2008
2007
FINANCIAL ASSETS
Cash
term investments
Short
Note 1
Other receivables
024
2
833
768
2
015
3
9
1
6
98
532
187
969
318
044
133
210
4
751
870
3
377
931
499
504
175
300
7
028
571
305
819
679
874
893
262
2
5
04 636
191
2
184
420
5
2
25
305
819
228
2
761
706
1
115
679
1
193
210
4
751
870
3
377
LIAIBILITIIkS
Due to Province of Ontario
Deferred revenue general program
Separate program balances Schedule C Note 1
Accrued employee benefit obligations Note 3
698
849
568
549
HEALTH UNIT POSITION
RESERVES
Schedule E
Note
1
on
behalf of th
Note 3
ard
t
Board
See
5anying
accom
notes
ber
568
549
STATEMENT 2
2008
BUDGET
2008
ACTUAL
2007
ACTUAL
171
9
894
379
0
2
86
384
303
910
171
083
7
8
60
086
2
379
639
309
802
126
222
8
493
202
1
2
59
352
304
565
103
000
140
364
000
000
140
504
474
000
140
461
215
567
237
12
377
927
11
649
989
709
57
821
1
478
141
477
585
642
500
492
055
448
650
7
134
710
308
506
275
344
1
969
649
426
963
613
241
443
760
474
611
7
059
667
324
856
515
570
964
658
429
104
581
847
427
535
409
885
6
743
591
239
12
455
900
11
637
881
10
922
26
190
509
Unaudited
REVENUE
Provincial grants
Municipal per capita revenue
Sudbury Hospital genetics program
Federal grants
Cochrane District Social Services
Administration Board
Other
CDSSAB
390
11
EXPENDITURE
Administrative
Capital asset additions
Employee benefits
Fees and honouraria
Material and
supplies
Occupancy
Travel
Wages
CHANGE IN HEALTH UNIT POSITION
CHANGE IN ACCRUED EMPLOYEE BENEFIT OBLIGATIONS
CHANGE IN RESERVES
See
accompanying
notes
024
2
Note 3
737
269
659
296
996
5
194
503
STATEMENT 3
2008
2007
CHANGE IN HEALTH UNIT POSITION
DECREASE INCREASE IN
Other receivables
INCREASE DECREASE IN
Due to Province of Ontario
Deferred revenue
Separate program balances
Due to building trust
Accrued employee benefit obligations Note 3
CHANGE IN CASH
922
26
190
509
488
54
963
118
389
87
251
625
300
7
821
127
090
17
101
654
737
269
70
406
845
996
5
886
285
333
7
3
37
650
669
683
0
3
67
CASH end of year
023
4
219
737
3
333
833
0
2
24
998
1
386
015
7
2
68
318
969
023
4
219
737
3
333
CASH CONSISTS OF
Cash
term investments
Short
See
accompanying
notes
2007
The Porcupine Health Unit offers public health services through a variety of programs to the municipalities listed
on Schedule F and the s
area Unorganized Territories as specified in the Health Protection and Promotion Act
1
The financial statements of the Health Unit are the representation of management prepared in accordance with
Canadian generally accepted accounting principles for government operations as recommended by the Public
Sector Accounting Board PSAB of the Canadian Institute of Chartered Accountants
Since precise
determination of many assets and liabilities is dependent upon future events the preparation of periodic financial
statements necessarily involves the use of estimates and approximations These have been made using careful
judgement and in light of information available The financial statements have in management
s opinion been
properly prepared
the Health Unit
a
within reasonable limits of
are as
materiality Significant aspects
of the
accounting policies adopted by
follows
REVENUE RECOGNITION
The Health Unit utilizes the accrual basis of accounting Operating grants from all levels of government are
recorded as revenue in the period to which they relate Grants approved but not received at the end of an
accounting period are accrued Where a portion of a grant relates to a future period it is deferred and recognized
in that subsequent period These financial statements reflect agreed arrangements with respect to the year
ended December 31 2008 Other revenues are recognized as they become available and are measurable
Expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services and
b
TERM INVESTMENTS
SHORT
term investments
Short
c
are
carried at the lower of cost and market value
CAPITAL ASSETS
The historical cost and accumulated amortization of
Capital
d
assets are
reported
as an
expenditure
on
capital
assets are not recorded for Health Unit purposes
the statement of financial activities in the year of
acquisition
SEPARATE PROGRAM OPERATIONS
The cost of operations of separate programs except for the Septic Program which is funded on a fee for service
basis and the West Nile Virus Program which is cost shared are funded by the government or other
organizations without cost sharing by the participating municipalities The balances of the separate programs are
refundable to
receivable from the respective funding body and are subject to adjustments upon settlement
e
GENERAL PROGRAM OPERATIONS
The cost of
general program operations of the Health Unit are primarily funded 25 from the member
municipalities and 75 from the Province of Ontario The municipalities share is contributed by a per capita levy
s
65 in 2007 Excess of revenue over expenditure after adjustment of the Province
65 in 2008 and 29
28
accounts is credited to the reserves of the Health Unit
f
RETIREMENT AND OTHER EMPLOYEE FUTURE BENEFITS
The Health Unit
provides future benefits to specified employee groups These benefits include sick leave
vacation pay and
health care benefits
The costs of other employee future benefit plans are actuarially
determined using the Health Unit
s best estimate of accumulated sick days at retirement and health care costs
trends long
term inflation rates and discount rates
NOTES TO FINANCIAL STATEMENTS CONT
D
2
RESERVES
a
SICK LEAVE OBLIGATION
2007
The Board of Directors has approved the appropriation of operating funds to mitigate the future impact of this
obligation The amount in the reserve is adjusted each year to reflect the municipal share of the total potential
liability 25 in 2008
b
EQUIPMENT REPLACEMENT
The Board of Directors has
3
approved
the
appropriation
of
operating
funds for future
equipment replacements
ACCRUED EMPLOYEE BENEFIT OBLIGATIONS
Other
Accrued benefit
Employee
2008
2007
Total Accrued
Total Accrued
Sick Leave
Future Benefits
Vacation Pay
Obligation
Obligation
180
635
139
202
204 024
041
1
343
422 074
850
221
188
038
222
494
127
330
413
951
01
024
204
305
819
568
549
581
27
737
269
996
5
obligation
Unamortized actuarial
gains losses
CHANGE IN ACCRUED EMPLOYEE BENEFIT OBLIGATIONS
Current year benefit cost
652
46
504
195
The accrued benefit
obligation for employee future benefit plans as at December 31 2008 is based on actuarial
accounting purposes These actuarial valuations were based on assumptions about future events
The economic assumptions used in these valuations are the Health Unit
s best estimates of expected rates of
valuations for
2008
Inflation
0
2
Future dental premium rates
Future health and travel premium rates
0
4
Discount
0
5
on
accrued benefit obligations includes inflation
0
4
D
2007
ACCRUED EMPLOYEE BENEFIT OBLIGATIONS
3
D
CONT
EMPLOYEE BENEFIT OBLIGATIONS
SICK LEAVE
a
The Health Unit provides a sick leave payout to management employees and CUPE members hired before
January 1 2000 and ONA members hired before July 1 1998 The number of credits available for payout and
the related liability are capped
OTHER EMPLOYEE FUTURE BENEFITS
b
The Health Unit agrees to offer to continue drug plan coverage up to age 65 to Management CUPE and ONA
members who are at least 55 years of age at the date of retirement and the total of their age and service with the
Health Unit in terms of years is at least 80 until age 65 There are currently three members receiving this
benefit
There
are
grandfathered retirees who receive extended health care dental and vision where the member
premium rate billed to the Health Unit by the carrier These retired members are billed the same
as active members Future retirees are not eligible to participate in this program
two
pays 50 of the
premium
rate
LTD and AD
D
c
Other
employee benefits such
as
Long Term Disability LTD and Accidental Death and Dismemberment AD
D
or early retirement
Since the LTD is insured there is no accrued
insured and terminate upon retirement
benefit obligation for the LTD to be reported
are
Amounts to be recovered represent liabilities established for accrual accounting purposes In the case of sick
leave and vacation pay obligations the liabilities are to be funded from future years budgetary allocations
4
CONTINGENCIES
The Health Unit has entered into accountable contributions with government funding agencies All such
is subject to audit by the various governments with audit adjustments repayable to the government
5
The
revenue
carrying
value of cash term
short investments receivables due to Province of Ontario accounts
approximate their value due to the short
payable
and accrued liabilities
6
ECONOMIC DEPENDENCE
Over 75 of the
continuation of this
organization revenue is received from various
s
organization is dependent on this funding
Ministries of the Province of Ontario
The
D
2007
FUTURE CHANGES IN ACCOUNTING POLICIES
7
Commencing with the fiscal year beginning January 1 2009 the Health Unit will be adopting CICA Public Sector
Accounting Handbook Section PS 3150 Tangible Capital Assets This section establishes standards on how to
account for and report tangible capital assets in government financial statements Tangible assets will include
items such as leasehold improvements vehicles equipment and furnishings
During 2008
the Health Unit has worked towards
compliance
with the
new
legislation
As at December 31 2008
the Health Unit has prepared a valuation listing of all leasehold equipment vehicles equipment and furnishing
inventories Policies related to Tangible Capital Asset reporting including asset classifications useful life and
amortization methods have been established The asset categories and estimated useful lives are as follows
ASSET CLASSIFICATION
Leasehold
Useful Life
10
improvements
Vehicles
5
Equipment and furnishings
10
BUDGETED AMOUNTS
8
The
Years
budgeted figures presented for comparative purposes
Health
are
unaudited and
are
those
approved by the Board of
THE BOARD OF HEALTH FOR
THE PORCUPINE HEALTH UNIT BUILDING TRUST
2007
Ross Pope
Company
LLP
Charfered Accounfanfs
9484
Telephone 705 264
Fax 705 264
0788
Mail inform@rosspope
E
com
Timmins Ontario
P4N 2G7
Website www
com
rosspope
AUDITORS REPORT
To the Member Municipalities of The Board of Health for
The Porcupine Health Unit Building Trust
We have audited the statement of financial position of The Board of Health for The Porcupine Health Unit
Building Trust as at December 31 2008 and the statements of revenue expenditure and net assets and
cash flows for the year then ended These financial statements are the responsibility of the Building
s management Our responsibility is to express an opinion on these financial statements based on
Trust
our audit
We conducted
our
standards
that
and
standards
Those
audit to obtain reasonable assurance whether the financial
require
plan
perform
statements are free of material misstatement An audit includes examining on a test basis evidence
we
an
In
as
well
as
evaluating the
Building Trust as at December 31 2008 and the results of its operations and cash flows for the year
then ended in accordance with Canadian generally accepted accounting principles
our
the
J
ASS
Timmins Ontario
March 22 2009
acy
Cn
LLP
U
Ross Pope
Company
LLP
FINANCIAL POSITION
AS AT DECEMBER 31
2008
2007
015
411
114
6
354
410
213
7
792
772
921
417
395
362
554
753
374
754
171
1
475
116
1
769
533
13
583
4
157
1
942
112
1
186
171
1
475
116
1
769
ASSETS
CURRENT ASSETS
Cash
GST recoverable
Prepaid
expenses
CAPITAL ASSETS Note 1
LIABILITIES
CURRENT LIABILITIES
NET ASSETS
STATEMENT OF REVENUE EXPENDITURE AND NET ASSETS
2008
2007
162
136
716
9
168
136
658
11
852
171
794
179
33
250
165
32
33
293
493
42
REVENUE
Building and equipment
rent
Interest
EXPENDITURE
Amortization
Maintenance and
Other
Utilities
repairs
500
500
181
60
281
58
096
126
567
134
EXCESS OF REVENUE OVER EXPENDITURE
NET ASSETS beginning of year
756
45
186
1
1
12
227
45
959
0
1
66
NET ASSETS end of year
157
1
942
112
1
186
See
accompanying
notes
2008
2007
756
45
227
45
250
33
293
33
079
1
050
5
ADD ITEMS NOT AFFECTING CASH
Amortization
DECREASE INCREASE IN
Accounts receivable and prepaids
Due from Porcupine Health Unit
INCREASE DECREASE IN
Accounts payable
CASH PROVIDED BY OPERATING ACTIVITIES
845
950
8
437
035
89
852
84
430
32
665
21
430
32
665
21
Purchase of
capital
assets
CHANGE IN CASH
605
56
354
410
187
63
291
223
CASH end of year
015
411
410
354
See
accompanying
notes
2007
NATURE OF ORGANIZATION
The Trust has been established to purchase capital assets as investments to be leased on a long
term basis to
the Porcupine Health Unit when the Health Unit cannot secure funding for the purchase of these assets
ACCOUNTING POLICY
CAPITAL ASSETS AND AMORTIZATION
All
capital assets
equipment at
and
are
recorded at cost
5 per
Amortization is
provided
on
the
declining
balance basis
ACCUMULATED
COST
Land
Building and equipment
2
on
the
building
annum
AMORTIZATION
NET
2008
2007
800
121
814
8
1
64
233
1
060
800
121
631
754
800
121
632
574
986
1
614
233
1
060
554
753
374
754
The carrying value of cash GST recoverable accounts
due to the short
payable and accrued liabilities approximate their value
2007
Ross Pope
Company
LLP
9484
Telephone 705 264
Fax 705 264
0788
Mail inform@rosspope
E
com
Timmins Ontario
P4N 2G7
Website www
com
rosspope
AUDITORS REPORT
To the Chairman and Board of the Cochrane District Social Services Administration Board
We have audited the statement of financial position of the Cochrane District Social Services Administration
Board as at December 31 2008 and the statements of financial activities change in fund balances and
changes in financial position for the year then ended These financial statements are the responsibility of
the s
Board management
on our audit
Our
responsibility is
to express an
opinion
on
We conducted our audit in accordance with Canadian generally accepted auditing standards
Those
In
our
opinion these financial
statements
present fairly in all material respects the financial position of the
as at December 31 2008 and the results of its
Cochrane District Social Services Administration Board
changes in its financial position for the year then ended
generally accepted accounting principles
financial activities and the
Canadian
ae
S
c
Timmins Ontario
April 1 2009
9
in accordance with
cp
pnyRa
LLP
O
Ross Pope
Company
LLP
STATEMENT OF FWANCIAL POSITION
AS AT DECEMBER 31
2008
2007
FINANCIAL ASSETS
Cash
546
417
13
o ass
JLl IJJ
n
r
1
7LI
JVI QIy IIIVG
GIIIk
lIGIIW
Accounts receivable
Deferred charges
TOTAL FINANCIAL ASSETS
713
9
745
nay sn
VVl
I
JVI
591
998
113
531
305
1
987
792
7
4
15
339
555
12
165
5
611
022
0
4
48
329
1
558
420
589
100
468
LIABILITIES
payable and accrued liabilities
Retirement and other employee future benefits
Due to Province of Ontario MCSS Note 3
Accounts
Deferred
revenue
671
3
1
01
775
474
382
4
668
828
387
Note 7
Note 6
term debt Note 4
Long
TOTAL LIABILITIES
553
708
11
760
2
367
443
524
251
9
810
CDSSAB POSITION
OPERATING FUND
427
29
CAPITAL FUND Schedule 4
S
RESERVI
Note
8
286
1
240
Schedule
RESERVE FUNDS Note 8
5
Schedule
6
FUND BALANCES
AMOUNTS TO BE RECOVERED Note 9
TOTAL LIABILITIES AND CDSSAB POSITION
Approved
y
k
Vice Chair
Ch it
See
accompanying
notes
665
3
03D
729
2
017
040
3
521
934
2
422
448
5
738
499
6
1
89
TOTAL CDSSAB POSITION
2
427
29
336
535
157
5
530
001
8
1
54
759
3
239
303
3
529
792
467
15
339
555
12
REVENUE
Province of Ontario
Municipal and unincorporated territories contributions
Rent
2008
2007
25
544
640
735
148
24
231
4
749
964
5
449
23
290
473
016
354
24
227
4
157
857
5
307
477
985
59
770
911
57
568
5
7
00
518
1
519
285
7
153
864
152
11
928
083
16
058
2
705
267
9
596
533
821
727
1
491
907
9
6
25
519
1
019
509
8
124
099
821
11
211
712
15
014
2
803
685
8
078
357
416
57
359
605
55
917
4
86
175
726
268
524
129
579
64
984
43
044
1
769
701
8
094
10
70
568
696
210
109
57
999
139
056
47
018
1
379
122
10
PROGRAMS
EXPENSES
Child
care
Employment placement
Ontario Disability Support Program
Ontario Works
Social housing
Social housing Moosonee
Land ambulance operating
Land ambulance capital
Other
118
418
EXPENSES ADMINISTRATION OF PROGRAMS
Bank
charges and interest
Equipment and leasehold improvements
Miscellaneous
Office
supplies
Professional fees and
purchased services
Rent building lease and utilities
Salaries wages and benefits
Travel
Interest earned
839
434
NET REVENUES
Due to the Province of Ontario
Due from municipalities
Due to
MCSS
Note
3 and Schedule
unincorporated territories Schedule 2
CHANGE IN CDSSAB POSITION
See
accompanying
notes
3
3
984
465
216
1
536
098
1
039
893
632
58
398
703
56
352
1
584
208
1
372
166
130
000
600
744
130
828
181
710
455
529
992
015
34
STATEMENT OF CHANGE IN FUND BALANCES
2008
2007
710
455
529
992
Debt principal repayments
Change in retirement and other employee future benefits Note 7
136
615
887
27
128
527
716
52
Decrease in amounts to be recovered
502
164
243
181
208
291
286
811
CHANGE IN CDSSAB POSITION
See
accompanying
notes
4
STATEMENT OF CHANGES IN FINANCIAL POSITION
2008
2007
211
924
25
895
922
24
24
621
773
231
4
749
984
5
635
762
032
56
616
1
249
24
534
422
227
4
157
966
5
199
Cash received Province of Ontario
Cash received Municipal and unincorporated territories
contributions
Cash received Government of Canada
Cash received other
Cash paid out program expenses
Cash paid out administration of programs
265
3
205
413
833
54
553
1
299
152
3
073
Interest earned
Repayment of long
term debt
CASH PROVIDED BY FINANCING ACTIVITIES
CHANGE IN CASH
CASH beginning of
CASH end of
year
year
839
434
984
465
615
136
530
128
224
298
454
337
563
3
429
10
252
781
527
4
3
89
291
7
725
681
344
14
252
781
10
13
546
417
135
927
745
7
9
13
067
1
507
681
344
14
252
781
10
024
1
198
072
1
900
CASH CONSISTS OF
Cash
Temporary investments
Interest
See
paid
accompanying
notes
5
2007
1
Cochrane District Social Services Administration Board CDSSAB is an organization which administers various
programs of the Ministry of Community and Social Services MCSS Ministry of Health and Long
Term Care and
Ministry of Municipal Affairs and Housing The Board also provides social housing in the Cochrane District The
Board is funded primarily by the Province of Ontario the Government of Canada and twelve
municipalities from the District of Cochrane
incorporated
2
The financial statements of the CDSSAB
are
the
representation of management prepared in accordance Canadian
by the Public Sector Accounting
significant of these accounting
generally accepted accounting principles for local governments as recommended
Board PSAB of the Canadian Institute of Chartered Accountants The more
summarized below
policies
are
a
FUTURE CHANGES IN SIGNIFICANT ACCOUNTING POLICIES
The
but
following accounting standards have been issued by the Canadian Institute of Chartered Accountants CICA
are
not
yet effective
For years beginning on or after January 1 2009 Section 3150 of the Canadian Institute of Chartered Accountants
Public Sector Accounting Handbook requires publicly accountable entities to
capitalize and amortize
CICA
Because in the past the board has expensed capital assets the board will be establishing capitalization
policies assessing the remaining useful life of assets and possible residual values when service potential ends and
appropriate amortization rates to be used over 2009 and later
assets
b
ACCRUAL ACCOUNTING
The financial statements of the Cochrane District Social Services Administration Board have been prepared using
the accrual basis of accounting The accrual basis of accounting recognizes revenues as they become available
and measurable expenditures
or services and the creation of
c
recognized as they are incurred and measurable
legal obligation to pay
are
a
as a
result of
receipt of goods
REVENUE RECOGNITION
The programs are funded primarily by the Province of Ontario in accordance with budget arrangements established
by the Ministry of Community and Social Services Ministry of Health and Long
Term Care and Ministry of
Municipal Affairs and Housing Government transfers grants are recorded as revenue in the period to which they
relate Government transfers approved but not received at the end of an accounting period are accrued Where a
portion of a government transfer relates to a future period it is deferred and recognized in that subsequent period
Any excess of program funding over recoverable expenses is due to the Province of Ontario
The programs are also funded by member municipalities from the District of Cochrane Contributions for the year
are based on the weighted assessments for each municipality
Any excess or deficiency of the municipalities
contributions in the year over their respective share of program
s expenses is apportioned among the municipalities
in the same proportion as the original contributions
Unrestricted contributions are recognized
reasonably estimated and collection is
be
d
as revenue
when received
reasonably
assured
or
receivable if the amount to be received
can
CAPITAL ASSETS
The historical cost and accumulated amortization of capital assets are not recorded Capital assets are reported as
an expenditure on the Statement of Financial Activities in the year of acquisition
For those capital assets
financed or to be financed by the issue of long
the
and
interest
on
the long
debt
term
principal
term debt are
reported
on
the Statement of
Changes
in Fund Balances
6
as
they
are
paid
D
2007
OPERATING FUND
e
Adjustments
prior year funding
to
recorded
are
as
increases
or
decreases in the
operating fund
in the
period it is
incurred
Reserves and reserve funds represent amounts appropriated for general and specific purposes and are charged or
credited to respective fund in the period appropriated or drawn down The amounts in reserves are approved by
the Board and are within the limits defined in the District Social Services Administration Boards Act
MEASUREMENT UNCERTAINTY
g
requires management to make estimates and assumptions that affect the reported amount of assets and liabilities
disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the period Actual results could differ from these estimates
The
h
The Board
provides
and health
care
future benefits to
specified employee groups These benefits include sick leave vacation pay
employee future benefit plans are actuarially determined using the
s best estimate of accumulated sick days at retirement and health care costs trends long
Board
term inflation rates
benefits
The costs of other
and discount rates
The
Board
accrues
its
obligations
under
benefit
employment
plans
as
the
employees
render the services
necessary to earn employee future benefits The cost of retirement benefits earned by employees is actuarially
determined using the projected benefit method pro
rated on service and management
s best estimate of salary
retirement
and
health
care costs Actuarial valuations where necessary for accounting
escalation
expected
ages
performed triennially The discount rate used to determine the accrued benefit obligation was the
expected
long term debt Unamortized actuarial gains or losses are amortized on a straight
line basis over
the expected average remaining service life of the employee group
purposes
are
cost of
Where
applicable
the Board has set aside
reserves
and
reserve
funds intended to fund these
obligations
either in
full or in part These reserves and reserve funds do not meet the definition of a plan asset under CICA PS 3250
Retirement Benefits Therefore for the purposes of these financial statements the plans are considered unfunded
i
FUND ACCOUNTING
Funds within the financial statements consist of current
recorded as adjustments to the appropriate fund balance
j
capital and
funds
Transfers between funds
are
transfer occur
k
reserve
are recognized in the financial statements in the period in which the events giving
rise to the
USE OF ESTIMATES
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 reporting periods These have been made using careful judgment and in
light of information available The financial statements have in management
s opinion been properly prepared
within reasonable limits of materiality Actual results could differ from these estimates
The
7
D
3
2007
DUE TO PROVINCE OF ONTARIO MCSS
2008
Due to Province MCSS for 2008
Schedule 3
Due to Province 2007 MCSS Ontario Works Form 5
Due from Province 2008 MCSS Ontario Works Form
4
2007
130
166
207
882
958
40
708
37
692
76
5
181
828
194
87
786
96
410
197
202
26
595
58
775
470
420
589
2008
2007
TERM DEBT
LONG
Due to the City of Timmins repayable in blended monthly payments of
764 interest calculated at 5
6
6 matures June 1 2009
826
39
710
115
Due to the Town of Cochrane repayable in blended monthly payments of
205 interest calculated at 6
1
5 matures January 1 2010
097
15
147
28
946
314
503
349
959
17
083
31
828
387
443
524
Mortgage payable
the rate of 4
528
and building
in
128 including interest at
monthly instalments of 4
maturing June 2016 secured by a mortgage on land
263
Computer capital lease payable in monthly installments of 1
including interest calculated at 8 matures March 2010
Principal payments required for each of the
next five years and thereafter are
2009
as
follows
104
085
707
42
526
39
337
41
231
43
942
116
2010
2011
2012
2013
2014 and
approximately
subsequent years
828
387
8
D
5
2007
DEBENTURE DEBT
The Ministry of Municipal Affairs and Housing Ministry transferred title to all the housing units to Cochrane
District Local Housing Corporation
The transfer was made such that the Ministry retained the debt that was
outstanding on the properties The Ministry continues to make the mortgage payments In return the subsidies
received from the Ministry and Federal government are reduced by the amount of these principal and interest
604 The outstanding balance of these
1
payments The principal and interest payments for 2008 were 949
debentures at December 31 2008 is 13
394
363
6
709
029
14
2007
DEFERRED REVENUE
2008
Tenants prepaid rent
Rent Bank
Participation
30
352
478
70
038
18
313
24
240
48
532
443
737
86
475
1
000
42
506
936
92
038
18
HARS
National Child Care Benefit
ODSP
2007
Employability
784
112
443
532
465
841
443
1
255
475
824
677
563
OW Employment
Affordable Housing
Program
Capital grant Delivering Opportunities for Ontario Renters
Capital grant Social Housing Capital Repairs
program
Best Start
677
563
760
2
367
382
4
668
7
2008
Total
Employee
Future Benefits
employee future benefit
obligations beginning of year
2007
Total
Employee
Future Benefits
Accrued
Add current year benefit cost
Add interest
obligation
Change in
on
382
1
274
241
100
595
93
177
64
140
66
accrued benefit
estimate
Less benefits
paid
Total expenses
Accrued
329
1
558
305
192
451
212
887
27
716
52
future benefit
employee
obligations ending of
year
301
1
671
329
1
558
The accrued benefit obligations for employee future benefit plans as at December 31 2008 are based on actuarial
valuations as at December 31 2006 These actuarial valuations were based on assumptions about future events
The employee future benefits expenses have been included in salaries wages and benefits expenses on the
Statement of Financial Activities The next required actuarial valuation will be performed as at January 1 2010
9
D
2007
7
The economic
assumptions
used in these valuations
are
D
CONT
the Board
s best estimates of
expected
rates of the
following
2008
Inflation
Wage and salary escalation
Dental cost escalation
Discount
0
2
0
3
includes inflation
0
4
accrued benefit
future sales tax
0
5
obligations
Expected
Expected average remaining life of the employee group
on
Expected future retirement
0
8
15 years
in
25
rates
OMERS
Expected future termination
Expected
future
mortality
Ontario
rates
rates
the
pension
Current
plus
cost escalation
a
reduction
no
in
subsequent years
Blended
CDSSAB
care
of
10 in
Group annuity mortality
Health Care
Health
earliest
1994 Static
Rates
derived
from
future escalations
experience plus
adjustment
25 age
escalates at 8 per year reducing to 4 per
over 12 years 4 per year thereafter
year
Expected future change
in benefits
future
benefit caps remain constant fee
will
schedules
track
expected future
escalation
rates
premium
Emergency Medical Travel
Blended
Retiree
plus
Active
EMTI
of 9
1
8 per month single and
month
family plus future
per
premiums
22
4
escalations
Month of Retirement
Coverage
were
increased
by
25
as
an
age
adjustment
All
eligible CDSSAB early retirees will
early retirement benefits until age 65
receive
Government
Life and
Will continue in the future without
Sponsored Medical Programs
Dependent Life
A Reserve fund of
532 2007
520
Ontario
502 has been established to provide for housing employee entitlements
369
provide for sick leave and severance for land ambulance employees The
409 2007 559
2007 266
059 and 559
409 respectively These
have been established to
Also
balance of these reserves is 294
577
reserve funds and reserves are reported
reserves
change
on
the Statement of Financial Position
10
D
7
2007
D
CONT
RETIREMENT BENEFITS
a
RETIREMENT GRATUITIES
The Board
provides retirement gratuities to certain groups of employees The amount of the gratuities paid
eligible employees at retirement is based on their salary and accumulated sick days at retirement
b
to
RETIREMENT LIFE INSURANCE AND HEALTH CARE BENEFITS
The Board continues to provide life insurance and health care benefits to certain employee groups for one year
after retirement The benefit costs and liabilities related to this plan are included in the Board
OTHER EMPLOYEE FUTURE BENEFITS
a
WORKPLACE SAFETY AND INSURANCE BOARD OBLIGATIONS
The Board is
employer under the Workplace Safety and Insurance Act and as such the Board
s insurance premiums for the year ended
by its injured workers under the Act The Board
December 31 2008 were 343
s current year benefit costs
060 2007 342
412 and are included in the Board
No liabilities for claims by its injured workers under the Act are included in the Board
a
Schedule 1
insures all claims
b
TERM DISABILITY
LONG
The Board provides life insurance dental and health care benefits to employees on long
term disability leave The
Board is responsible for the payment of life insurance premiums and the costs of health care benefits under this
plan for a two year period The costs of salary compensation paid
fully insured and not included in this plan
8
to
employees
on
term disability leave
long
are
Reserves
are
2008
For sick leave
For working capital
For organization
computer
2007
LA vehicle
577
294
246
9
1
39
000
595
409
559
798
276
059
266
751
0
1
31
000
595
409
559
798
276
TOTAL RESERVES Schedule 5
665
3
030
729
2
017
For MOH
For MOH
LA
Reserve funds
development
severance
are
2008
2007
Housing Employee Entitlement
Public Housing Capital
Federal Housing Capital
Moosonee Public Housing Capital
Profit Housing Capital
Non
532
520
680
4
1
17
619
604
190
170
500
327
369
502
210
3
1
68
521
583
252
164
070
316
TOTAL RESERVE FUNDS
040
3
521
934
2
422
Schedule 6
11
D
2007
9
Amounts to be recovered represent assets not satisfying the definition of an asset under PSAB recommendations
and liabilities established for accrual accounting purposes In some cases reserves and reserve funds have been
established to fund these amounts In other cases the liabilities are to be funded from future years budgetary
allocations The balance is
comprised of the following items
2008
Retirement and other
debt
employee future benefits
2007
term
Long
671
3
1
01
828
387
558
3
1
29
443
524
Balance end of year
689
1
499
854
1
001
PENSION AGREEMENTS
10
The Board makes contributions to the Ontario Municipal Employees Retirement
employer plan on behalf of members of its staff The plan is a defined benefit
the retirement benefit to be received
by the employees based
on
the
System COMERS which is a multi
plan which specifies the amount of
length of service and
rates of pay
was 629
885 2007 613
102 for current service As this amulti
s pension benefit expense No pension liability for this
employer pension plan these contributions are CDSSAB
type of plan is included in CDSSAB
11
The
carrying
value of cash temporary investments accounts receivable accounts payable and accrued liabilities
approximate their fair value due to the short
and due to Province of Ontario
Unless otherwise noted it is
currency
The
or
credit risks
carrying
amount of
arising
s opinion
management
that the CDSSAB is not
exposed
to
significant interest
from these financial instruments
term debt approximates the fair value
long
as
the interest rates
are
consistent with current
rates offered to the CDSSAB for debt with similar terms
12
COMMITMENTS
The Board has leased office space under operating leases for various
paying rent on a month to month basis for lease office space
Future minimum lease payments
are as
up to the year 2012 The Board also
follows
2009
147
287
113
79
772
70
772
70
2010
2011
2012
13
periods
ECONOMIC DEPENDENCE
The
s revenue is received from the provincial and federal governments and member
majority of the Board
municipalities The continuation of this organization is dependent on this funding
14
CONTINGENCIES
The Board is involved in
a number of claims and possible claims which are as a result of normal on going
eventuality that the Board is unsuccessful in defending some of these claims amounts are
available in existing reserves reserve funds and the operating fund Management is of the opinion that these
amounts are sufficient to cover these claims Any settlements or awards which may arise or any difference with the
provision made will be reflected in the financial records in the year that the amount has been determined
operations
In the
12
D
2007
SEGMENTED INFORMATION
15
The District of Cochrane Social Services Administration Board supports the development of healthy and self
sufficient communities through the innovative and responsive delivery of Children
s Services Community Housing
Emergency Medical Services and Social Assistance
organized and reported by program
For
Certain programs that have been
provide are as follows
in the
separately disclosed
s financial activities
reporting purposes the Board
are
segmented information along with the services they
SOCIAL HOUSING
a
Housing Services administers rent
income assistance to eligible households in the Cochrane District
to
geared
The department also manages a housing portfolio of 1289 units and 106 rent supplement units and administers the
Social Housing Reform Act 2000 for the various Non
Profit and Co
operative Housing Providers portfolio of 800
units Providers operate affordable
for
housing projects that offer rental units
at Market Rents and units that are
eligible
income subsidy
to
geared
rent
Housing assistance is provided to families seniors couples single people and people with special needs in
detached Private landlords have also agreed
variety of buildings townhouses apartments single and semi
rent
accommodation
under
the
supply
supplement program
a
to
ONTARIO WORKS
b
The Ontario Works
Department provides employment and financial assistance to individuals who comply with the
participation requirements intended to assist them in finding and maintaining gainful employment Individuals
receiving assistance through Ontario Works participate in a wide range of employment assistance activities which
help them prepare for find and keep a job
CHILD CARE
c
The Children
s Services Division manages childcare funding within the District of Cochrane This includes fee
subsidy resource center funding special needs resourcing wage subsidy National Child Reinvestment funding
and
funding for special initiatives
d
LAND AMBULANCE
CDSSAB is
fundamental
responsible for the provision of Land Ambulance Services within the District of Cochrane based
principles which include services that are seamless accountable responsive integrated
upon
and
accessible
e
ONTARIO DISABILITY SUPPORT PROGRAM
The Ontario
a
ODSP
Disability Support Program provides eligible people
with disabilities with financial
help
and
help finding
job
For each
reported segment
segment
as
well
methodologies
are
as
and expenses represent both the amounts that are directly attributable to the
reasonably be allocated to the segment Therefore certain allocation
in the preparation of segmented financial information
revenue
amounts that can
employed
The accounting policies used in these segments are consistent with those followed in the preparation of the
financial statements as disclosed in Note 2 For additional information see the Schedule of Segment Disclosure
Schedule 7
13
THE CITY OF TIMMINS
NON
2007
Company
Ross Pope
LLP
Telephone 705
Fax 705
Timmins Ontario
9484
264
0788
264
Mail informQa rosspope
E
com
Website www
com
rosspope
P4N 2G7
AUDITORS REPORT
To the Board of Directors of
City
of Timmins Non
Profit
Housing Corporation
Profit Housing Corporation as
position of City of Timmins Non
December 31 2008 and the statements of operations and changes in net assets changes in
replacement reserve fund and cash flows for the year then ended These financial statements have been
prepared to comply with the funding agreement with Canada Mortgage and Housing Corporation These
at
express
an
opinion
are
on
the
responsibility of the Corporation
s management
on our
Our
responsibility is
to
audit
In
Corporation as at December 31 2008 and the results of its operations and changes in net assets
changes in replacement reserve fund and its cash flows for the year then ended in accordance with the
basis of accounting described in Note 1 to the financial statements
our
the
These financial statements which have not been and
with Canadian
generally accepted
were
not intended to
are
solely
Corporation and its Funders The financial statements are not intended
anyone other than the specified users or for any other purpose
aSS
Timmins Ontario
May 31 2009
be prepared in accordance
for the information and
use
of the
to be and should not be used
CC
Ross Pope
by
LLB
Company
LLP
CURRENT ASSETS
Cash
129
806
624
32
671
33
433
16
192
574
121
88
534
212
168
1
8
31
004
1
999
521
3
128
297
485
4
8
18
076
1
515
521
3
352
9
222
795
9
649
CURRENT LIABILITIES
Due to funding agency Note 5
759
129
782
147
Unearned income
Current portion of long
term debt Note 4
7
2
38
886
301
782
288
883
438
732
8
7
32
133153
8
271
8
615
620
8
508
891
325
282
189
030
1
710
080
1
607
175
1
141
352
9
222
795
9
649
Accounts receivable
Due from funding agency
Note 5
Prepaid expenses
CAPITAL ASSETS Note 2
ASSETS OF THE REPLACEMENT RESERVE FUND Note 3
CAPITAL FUNDS HELD INTRUST
LI
433
16
ILITIES
117
44
TERM DEBT Note 4
LONG
674
6
355
487
NET ASSETS
REPLACEMENT RESERVE FUNDS
UNRESTRICTED NET ASSETS
Note 3
Approved by
w
m
da
m
Chair
See accompanying notes
e Chair
it
431
144
STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS
2008
2007
138
92
297
075
397
108
316
187
907
281
912
273
120
671
496
698
25
512
387
66
25
511
337
75
072
624
639
607
971
715
487
708
EXCESS OF REVENUE OVER EXPENSES
UNRESTRICTED NET ASSETS beginning of year
Adjustment to prior year assistance
851
44
144
431
991
9
132
948
492
1
UNRESTRICTED NET ASSETS end of year
282
189
431
144
NET OPERATING LOSSES
77 MOUNTJOY STREET NORTH MNP 1
Schedule A
C
67 MOUNTJOY STREET NORTH MNP 2 Schedule
450 SHIRLEY STREET MNP 3 Schedule E
GOVERNMENT ASSISTANCE
77 MOUNTJOY STREET NORTH
Federal
Cochrane District Social Services Administration Board
67 MOUNTJOY STREET NORTH AND 450 SHIRLEY STREET
Cochrane District Social Services Administration Board and Federal
See
accompanying
notes
STATEMENT OF CHANGES IN REPLACEMENT RESERVE FUND
2008
2007
ASSETS
CASH
024
127
296
11
MARKETABLE SECURITIES at
975
877
065
1
219
004
1
999
076
1
515
674
113
805
45
710
0
1
30
656
34
992
413
523
54
LIABILITIES
DUE TO OPERATING FUND
ACCUMULATED FUND
BALANCE beginning of year
INTEREST EARNED
UNREALIZED LOSS ON INVESTMENTS
918
119
GREEN FUND REIMBURSEMENT
CONTRIBUTIONS
regular
special
985
97
130
103
DISBURSEMENTS ON REPLACEMENT IMPROVEMENTS
BALANCE end of year
See
accompanying
notes
4
211
282
465
4
52
623
247
94
631
158
325
891
030
1
710
004
1
999
076
1
515
2008
2007
EXCESS OF REVENUE OVER EXPENSES
851
44
991
9
317
287
272
436
492
1
ADD ITEMS NOT REQUIRING A CASH OUTLAY
Amortization of
Adjustment
to
DECREASE
capital assets
prior year assistance
INCREASE
IN
Accounts receivable
Due from
496
55
77
788
funding agency
DECREASE IN
payable and accrued
353
7
556
23
INCREASE
Accounts
Unearned
liabilities
021
18
revenue
564
29
080
564
2
419
292
360
299
287
317
515
71
272
435
329
7
802
215
764
279
Mortgage principal repaid
Increase decrease in assets of the replacement
reserve
net
INVESTING ACTIVITIES
Increase decrease in replacement
reserve
fund net
CASH PROVIDED BY USED IN INVESTING ACTIVITIES
CHANGE IN CASH
CASH beginning of
CASH end of
year
year
385
139
297
38
385
139
297
38
768
62
192
574
893
57
134
681
806
129
574
192
280
433
089
469
Interest
See
paid
accompanying
notes
5
2007
The
Corporation operates three non
profit housing projects
These
projects
are
programs with the Provincial and Federal governments The Provincial programs
to the Cochrane District Social Services Administration Board CDSSAB
undertaken under funding
subsequently transferred
were
The
project located at 77 Mountjoy Street North MNP 1 operates 32 units under a tripartite agreement jointly
signed by the Canada Mortgage and Housing Corporation CMHC the CDSSAB and the Corporation Both
CMHC and the CDSSAB provide funding on an agreed budget to cover the short
fall between rent collected and
operating expenses
The
Profit
project located at 67 Mountjoy Street North MNP 2 operates 61 units under the Homes Now Non
a
on an
of
the
of
Affairs
and
The
CDSSAB
based
Housing Program
Ministry
Municipal
Housing
provides subsidy
annual operating budget to cover the short
fall between budgeted rental revenue and budgeted operating
expenses
The
Provincial Non
Profit
project located at 450 Shirley Street MNP 3 operates 40 units under the Federal
Housing Program of the Ministry of Municipal Affairs and Housing The federal government and the CDSSAB
fall between budgeted rental
jointly provide a subsidy based on an annual operating budget to cover the short
revenue and budgeted operating expenses
1
The financial
Profit Housing Corporation have been prepared in
City of Timmins Non
set
out below pursuant to the operating agreement with the
significant accounting policies
statements
accordance with the
Funder
of the
The basis of accounting used in these financial statements differs from
in the following ways
i
Allocation to the
capital
reserve
fund
are
made
through
generally accepted accounting principles
the statement of
operations
rather than the
statement of funds
ii Land building and original furnishings and equipment are recorded at their initial
depreciated annually in an amount equivalent to the annual mortgage principal repayment
ii Major repairs upgrades expenditures and replacement of capital assets
Capital Reserve Fund or expensed in the year of acquisition
are
cost and
either funded
as
are
an
allocation from the
ACCRUAL ACCOUNTING AND REVENUE RECOGNITION
a
Rental income is recognized monthly based upon rental arrangements with tenants
Investment income is
recognized based upon the term in the investment agreement Revenue from government assistance is
recognized annually based upon an agreed funding formula From time to time the funder may adjust a prior
years government assistance amount These adjustments are charged directly to unrestricted net assets
TERM INVESTMENTS
LONG
b
All
long
term investments are classified as available
sale and include mutual funds
for
and losses to available
sale investments
for
are
excluded from net income and
are
Unrealized
holding gains
included in the net assets of
the capital fund until such gains or losses are realized or an other than temporary impairment is determined to
have occurred The fair values for long term investments were based on quoted market prices at the date of the
statement of financial
position
6
D
2007
c
D
CONT
CAPITAL ASSETS AND AMORTIZATION
Initial costs of land buildings and equipment arising on construction of the projects are stated at cost
Amortization related thereto is recorded in an amount equal to principal retirement on long
term debt Minor
additions to capital assets are expensed in the year of acquisition
Capital assets purchased with funds from the replacement
purchase
d
reserve
fund
are
charged
to the fund in the year of
MEASUREMENT UNCERTAINTY
requires management to make estimates and assumptions that affect the reported amount of assets and
liabilities disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the period Actual results could differ from these estimates
The
e
CHANGES IN ACCOUNTING POLICIES
Section 1400 Financial Statement Presentation
Effective
January 1 2008 the Corporation adopted Canadian Institute of Chartered Accountants CICA
Handbook Section 1400 General standards of financial statement presentation This Section
requirements to assess and disclose an entity
s ability to continue as a going concern
Section 1535
Effective
Capital
January 1
now
includes
Disclosures
2008 the
Corporation has adopted Canadian Institute of Chartered Accountants CICA
Handbook Section 1535 Capital disclosures This Section establishes standards for disclosure both qualitative
and quantitative about the entity
s objectives policies and processes for managing capital Amendments issued
in June 2008 exempt
publicly accountable entities from this standard unless they have external capital
non
requirements
Section 3855 Financial Instruments
The
Corporation adopted
the
Recognition and Measurement
provisions
of CICA Section 3855
Financial
Instruments
Recognition
and
Measurement prospectively beginning in the year ended December 31 2008 which address the classification
recognition
adjustment
f
and measurement of financial instruments in the financial statements The
to the
s opening restricted
Corporation
net asset balance on
January 1
change
has resulted in
an
2008
FUTURE CHANGES IN ACCOUNTING POLICIES
The following accounting standard has been issued by the Canadian Institute of Chartered Accountants CICA
but is not yet effective The Corporation will not apply this standard as CDSSAB is not currently following
handbook recommendations
re
capital
assets
Section 4430 Not for Profit Assets
For years beginning on or after January 1 2009 Section 4430 of the
Canadian Institute of Chartered
Accountants CICA Accounting Handbook has been amended to require capitalized assets to be amortized
The Corporation intends to follow the policy as set out by the funder This change will therefore have no effect on
future years
7
D
2
2007
CAPITAL ASSETS
2008
2007
Land
Building
Equipment
Less Accumulated amortization
070
151
975
4
1
64
112
40
510
604
070
151
975
4
1
64
112
40
762
544
051
1
647
111
1
395
812
436
723
7
4
41
732
97
253
1
525
812
436
723
7
4
41
732
97
126
1
727
022
4
742
149
4
540
107
358
914
5
3
58
145
67
387
927
107
358
914
5
3
58
144
67
615
826
056
3
779
157
3
550
131
8
168
418
8
485
Land
Building
Equipment
450 SHIRLEY STREET MNP 3
Land
Building
Equipment
TOTAL
3
REPLACEMENT RESERVE FUNDS
This amount represents funds which
are
set aside as a reserve for
capital expenditures
The amount shown as due from
to operating fund on the statement of changes in
eliminated when the fund is consolidated in the statement of financial position
8
in future years
replacement
reserve
fund is
D
4
2007
TERM DEBT
LONG
2008
MNP 1
MNP 2
31 mortgage
4
83 mortgage
5
MNP 3
385
4
Less Current
payable
payable
mortgage payable
portion
2007
051
1
648
192
0
4
26
056
3
778
111
1
396
990
1
4
52
157
3
549
618
1
8
34
886
301
935
4
8
21
782
288
832
7
732
133
8
153
The 4
31 mortgage is repayable at 8
840 per month including principal and interest The interest rate is fixed
until December 1 2016 The mortgage is secured by property at 77 Mountjoy Street North Timmins Ontario
The 8
5
until May 1 2024 The mortgage is secured by property at 67 Mountjoy Street North Timmins Ontario
The 3
4
until February 1 2012 The mortgage is secured by property at 450 Shirley Street Timmins Ontario
Principal payments due
on
term debt within each of the
long
next five years and thereafter are
approximately
as
follows
2007
Thereafter
301
886
369
303
708
318
841
334
809
351
524
6
005
Total
134
8
618
2008
2009
2010
2011
5
DUE
TO FROM COCHRANE DISTRICT SOCIAL SERVICES ADMINISTRATION BOARD
2008
2008 Annual Information Return
2003 Annual Return
12
338
525
2
653
32
525
2
64
487
653
32
511
56
548
55
671
33
117
44
Subsidy payment receivable
2007
D
6
2007
CAPITAL MANAGEMENT
Capital is comprised of the s
Corporation net assets and any debt that it may issue As at December 31 2008 the
282 the replacement reserve funds were 891
325 and long
s unrestricted net assets were 189
Corporation
term debt of 618
The
134
8
s objectives when managing capital are to continue as a going concern
Corporation
to protect its ability to meet its on
going liabilities Protecting the ability to pay current and future liabilities
includes operating within the Corporation
s approved annual operating budget Any deficit is the responsibility of
the Corporation and one
half of any surplus is repayable to the funder Also the corporation maintains a reserve
fund for future capital expenditures and significant reserves in order to maintain its properties
Annual
contributions to the replacement reserve fund are specified in the operating budget
7
COMMITMENTS
The
Corporation
has entered into the
a
contract for waste removal for a sum not to exceed
following
contracts
720 plus applicable taxes terminating December
18
31 2010
b
contract for
pest control for
a sum
not to exceed
160 plus all applicable
2
taxes
terminating December
31 2010
c
d
e
contract for elevator maintenance for a sum not to exceed
month for 77 Mountjoy Street North and
160
month for 67 Mountjoy Street North plus GST terminating December 31 2010
300
contract for snow removal and sanding at a flat monthly rate of 13
out plus
350 plus a rate of 392 per call
GST or 550 per call
out plus GST depending on the location terminating March 31 2009
The contract is for four months each year from December to March
contract for maintenance of life safety systems for a sum not to exceed
terminating December 31
f
123 plus applicable taxes
6
2010
management services agreement with Cochrane District Social Services Administration Board for year 2009
397 for 67 Mountjoy Street South and 450 Shirley at an increase of 2 and 17
41
359 for 77
Mountjoy Street South at a decrease of 3 as per the MMAH SHB CIF
at a fee of
8
The Corporation
s financial instruments consist of cash accounts receivable marketable securities capital funds
held in trust accounts payable and accrued liabilities due to funding agency and long term debt
Unless
otherwise noted it is management
s opinion that the Corporation is not exposed to significant interest currency or
credit risks arising from these financial instruments
Fair Value
The
s carrying
Corporation
value of cash accounts receivable capital funds held in trust accounts payable and
funding agency approximates their fair value due to the immediate or short term
accrued liabilities and due to
maturity of these instruments
The carrying value of the long term debt is less than the fair value which is calculated at 698
749
8
market interest rate of 5
3
9
using
a
GOING CONCERN
These financial statements have been
assets and the
prepared on a going concern basis
ordinary course of business
payment of liabilities in the
10
which
contemplates
the realization of
YEAR ENDED DECEMBER
31 2008
APPOINTED MEMBERS
REPRESENTING
CITY OF TIMMINS
Councillor
Councillor
Councillor
Councillor
Councillor
Gary Scripnick Chairman
Curley Vice
Chairman
Michael Doody
John
Pat Bamford
Bill Gvozdanovic
OFFICER
GENERAL MANAGER
SECRETARY TREASURER
Mr Kees Pols
Ross Pope
Company
LLP
Telephone 705
Fax 705
Timmins Ontario
9484
264
0788
264
Mail informQa com
E
rosspope
Website www
com
rosspope
P4N 2G7
AUDITORS REPORT
To the Members of the
Mattagami Region
Conservation
Authority
December 31 2008 and the statements of
position of the Mattagami Region Conservation Authority as at
operations and changes in net assets for the year then ended
the responsibility of the Authority
s management Our responsibility is to
These financial statements are
express an opinion on these financial statements based
on our
audit
supporting
In
as
well
as
evaluating the
Authority at December 31 2008 and the results of its operations and changes in net assets for the
year then ended in accordance with Canadian generally accepted accounting principles
our
the
e
nSS
Timmins Ontario
June 30 2009
q
clj LLP
pnyR
O
Ross Pope
Company
LLP
2
STATEMENT 1
TT
I
STATEMENT
ECEME
TI
FINANCIAL
I
ITI
31 2008
561
391
954
315
250
151
124 815
811
542
769
440
NET ASSETS
BALANCE end of
Approved
on
year
Statement 3
Behalf of the
Authority
r
See
accompanying notes
3
STATEMENT 2
STATEMENT OF OPERATIONS
YEAR ENDED DECEMBER
31 2008
2008
2007
427
141
345
730
554
13
104
431
474
14
277
51
427
141
325
000
076
12
759
411
165
5
648
57
997
566
219
28
117
2
953
075
366
32
550
13
027
1
902
991
998
953
192
451
38
824
9
925
412
284
30
337
12
001
1
467
033
968
435
26
958
30
REVENUE
GENERAL OPERATIONS
Ministry of Natural Resources Provincial grant
Municipal grant
HRDC Creation
Job
Job Connect projects
Ministry of Natural Resources special projects
Conservation donations and
Other
fundraising
Equipment replacement Schedule B
Trails Schedule C
EXPENDITURE
General
operations Schedule A
Equipment replacement Schedule B
Trails Schedule C
See
accompanying
notes
4
M
O
H
Z
J
CW
H
G
O
LW
N
T
N
N
T
T
L
r
r
LQ
r
N
O
I
vJ
J
Q
CA
N
Ef
Z
w
Z
W
CA
w
U
Q
N
c
N
rn
M
J
W
W
C
w
C
W
Q
T
N
O
C
O
c
cs
N
P
r
f
r
Z
O
w
Q
J
W
CD
Ef
J
Q
W
Z
W
0
C
C
0
CA
7 CS
C
C
N
r
CC
c
3
Ef
c
C
d
c
C
d
ao
O
O
S
N
N
i
T
M
Q
W
00
W
x
o
W
Z
W
Q
W
0
a
o
o
z
oU
oz
LL J
a
c
a
V
W
a
o
0
N
c
Q
c
Uwoa
0
U
Q
U
Q
X C
QWC
C
N
N
NATURE OF ORGANIZATION
The Mattagami Region Conservation Authority is established under the Conservation Authorities Act of Ontario
and its principal activities include water and related land management and conservation and recreation land
management
ACCOUNTING POLICIES
BASIS OF DISCLOSURE
a
representation of management prepared in
for government operations as recommended
by the Public Sector Accounting Board PSAB of the Canadian Institute of Chartered Accountants Since precise
determination of many assets and liabilities is dependent upon future events the preparation of periodic financial
statements necessarily involves the use of estimates and approximations These have been made using careful
judgement and in light of information available The financial statements have in management
s opinion been
within
reasonable
limits
of
of
the
properly prepared
materiality Significant aspects
accounting policies adopted by
the Conservation Authority are as follows
The financial statements of the Conservation Authority
accordance with Canadian generally accepted accounting
the
REVENUE RECOGNITION
DEFERRED REVENUE
b
The
are
principles
provincial grant is based on amounts approved by the Ministry of Natural Resources The municipal grant is
on amounts approved and received during the period from the Corporation of the City of Timmins
based
Funding for special projects often results from agreements which
unexpended portion is recorded as deferred revenue
may
cover more
than
one
fiscal year
In these
cases the
c
CAPITAL ASSETS
The historical cost and accumulated amortization for capital assets are not recorded
as an expenditure on the Statement of Operations in the year of acquisition
2
Capital
assets are
reported
DEFERRED REVENUE
2008
2007
MINISTRY OF NATURAL RESOURCES SPECIAL PROJECTS
MNR District
Projects
Upper Mattagami Watershed
MNR various gauges
Mattagami Watershed Source Protection
Project
16
896
077
23
440
9
348
274
896
16
23
077
440
9
085
176
080
8
20
000
580
10
20
000
841
351
078
256
OTHER
Donations other
Donations trails
6
D
PUBLIC SECTOR SALARY DISCLOSURE
3
On January 29 1996 the Ontario Legislature passed the Public Sector Salary Disclosure Act which requires
s broader public sector organizations to disclose annually the names positions salaries and taxable
Ontario
benefits of
In 2008
no
000
employees paid 100
employee
of the
or more a
Mattagami Region
year
Conservation
Authority
was
000
paid 100
in
salary
and benefits
4
The carrying value of accounts receivable accounts payable and deferred revenue approximate their fair value
due to the short
It is management
s opinion that the Authority is not
exposed
to
significant interest
currency
or
credit risks
arising from these financial
statements
5
A statement of cash flows has not been
presented
as
the
required
information is
readily apparent
from the other
ECONOMIC DEPENDENCE
6
The
majority of the Authority
s
revenue
is received from the Province of Ontario the City of Timmins and the
organization is dependent on this funding
Government of Canada The continuation of this
7
NEW ACCOUNTING PRONOUNCEMENTS
Recent
accounting pronouncements with regard to Section 3150 of the Public Sector Accounting Board
require governments to record and amortize their tangible capital assets on their financial
statements must be implemented by the Authority for the fiscal year ending December 31 2009 The Authority
has begun to compile an inventory listing of all tangible assets as at December 31 2008 and to compile historical
or cumulative amortization values for the tangible assets
Handbook which
7
I
1
rlr
n
J
11
aoa voi
version
0F THE MUNICIPALTREASURER
DECLARATION
iU2 rClo
PLI
l
n C
lor
ir
ir
o
yul
r
y
f
fr J
r
1 liilr
l
r
n un
u
I
llu
IS
f Iln
1
III 5
tlr
u
JI trl
I
r
10
O RECEIPT
EfJUE FUl
kEt
12
L
L
f
DUI
L
C
fFli
FBfiSFEi
hJtl
Ci FIJCJCTU
S
f
7
2
TIJhJ J
P
TAi
tiTJ
1
f
J1FtJP
22
Ut r
P
I
Pt
SLI IrJUL Lt F
J
RC
U
24
P
26
TiJfJ a
Tom
ld JCJ
rta1EPJT R
P
LIEU
1h
U
f
2a
EI
f
I
EGaEtJT
EIJIIT
TIE
40
E EhJUE FUt
R
JD E PEhJC
I
r
J
ii
JiTL
ll l L GE
tU
JEPJUE F
J IC
50
L El1PJG GPEP
IT
CH
F RIT
iIJF
fC
i
k
r
I
TIFF
FFF
IJ
E
LP
42
52
L
LIEU of T
ItJ
EUTS
rT
4TIOh
4
i
r
T
GL1
CJFi
IOfJS
IPJG
N
FINA
n
d E
FUhdCr e
iPStJGITURE
60
JT ES
O
IhJUIT
SEF
P
o
70
ISiJLIC
J
L
i
t
i I
GN
IT
IVi PC
J
FI
L
anc
E FLRJD
1
RESEF
72
JTIhJIIIT ET k
7
d
E REGEI
ELE
f
7a
l
Lnf
BO
IP
11S
1
hh li
1
l
J
I
ECJI lri
L
ICF
t 1
ERFCC
YPo190
LG ER TIER Of
J3LE
Slt
I
L
1 LIADILI f IL
LPP
1 ul JA1h11 L1
5
PJt
FOR 7JiE CITY OF TUftONTO
OT
SCIiEDULE
E L1Fr
dJ
RES t
tiF
1117J1 I
JF JI TIUi l
1
RPa1U1
FI 1F
rEF
tJ t lE
1
t
F
i
URE
I
FFI
PPdy2
FFRFIFt1
S
FfJFS
TI
FFFF
PPt193
iFt1 tJ
FFRF
F
16
PPd9
U
I
FCr
I
1
t
J
F hs1CtiSUP
CS 4Lif II
fV
Pf4195
NrJFf
1
fFRFJPt
IRF
SC
1F
1 2r
he Fnirr
sei
thi
rd
lur
7LY
C71
RFF
C
FtIE
hJ
TF
J
f
F
UF
t1F
thl FIn
IriCi
3 t nJ t
i
l
J i
iPTh
l
L
i
FCrFLIJFF
I
FF
PR
a1fJL
SF
RO
1
uUul Fu
urrn
hl
urll th
li tll
arnuult Jl
6
e
h Jt
dttc ii
u
ui
p
rlrlt w t
I
tnc L
r
e I
trd c
1
r
n
itit
e
r
hl Fln
i it I h
ynr
matlcr Rexrn ham beer
rcpared
luastforis leyardiriy the iiifurmation
ed
cQntau
Ind
in the
n ilh t
rrJ
a
al Inl6rrr
um
Fir
ri R
tL
eturr inslnu
s
tl
esshauld b addressed
5chedu
to
lames R Howie
2618
360
705
2699
360
705
a
n
ou
Erns
Uu
vrbslta aJdrN
r
ilr
i
ca
on
timmins
city
ihowiei
fRequhedl
I
u
lr
hlunrlp
unl
f
ca
on
immins
city
ICelh
br
uD
Llr t T
IV1UI IIUI
a h
lily
a
lunl 1 Tr
t
lf
a
uG
I Tr
tv1nlcq
Ross Pape
Illl
1rer
Gompany
Bernard J Christian
lrU
cit
c
Christian
Bernie
ca
on
timmins
Reyaired
ll
Enl
r
JU
Sep
Signature of Municipal Treasurer
I
crr
lynfl
i
I
n DFO
t I r
i
uric
1
Tot
4
li
Tail
O
u Fun
Eep
6
LE
ReceiCL
d
Unfur
ISLI
r
39
x
LIahllrtles IaL
1
Olj
4 i 0
71
2J a
0
ti l L
I
r
id uidina
G
l
ir
e
re
iaic I E
rtn
IJI a C
A41
l
r
1
1f
cr
ll
Fn
u
nJll
u
P
llr
r
at3
Ip L
1
hdds
I
5G
JJ
L
3
c
dur
J
u
o
J6
3
1
l
Data Source
Dist
146
99
MPAC
997
42
SfatsCan
010
11
StatsCan
s
at
C
a
Submitting
Version
FJR and MPi1
4P
VD1
206
ECLARATIQN OF THE MUNICIPAL TREASEIRER
on
nt 1o the infomiat
Ptlrsu
reciuirzd by
ihe
ira of Ont
Prov
ria ut
f the
i
kt A the cllrnvin schedules
1uCicrpul airs
art
attached
r
REVFNWE FUND RECEIPTS
10
12
CURRENT REVENUE FOR SPEG1FiC FUi
S
O
ET
26
TAXATION
22
tv1UN1CIPAL and SCHOOL BOARp
TAXATIQN
TlON
U
1NFORh
24
EU of TA
1
IN
v1ENT5
PAY
ATIpN
26
TAXATION ciid PAYR
Il SUhS
LI
IN
IENTS
i7ARY
28
TIER ENTITLE
UPPER
v1ENTS
40
EtJI tE
RE1
42
ADDITEOPJAL REVENUE FUND IhIFORh
1ATION
50
S
CAPITAL FUND OFERlITIOA
52
SQURCES of CAPITAL f
UND FWANCING a3nd XPCNDITURES
6D
CONTINUITI of RESERVES ar
d RESERVE PUNpS
7D
J
C
1
l
DATED
NSi FINANC1r1L
72
CONTINUITY pi
TRXES RECEIVABLE
74
LDNG TERM LIAB1LlTIES and COPJ7h41Th
1ENTS
8D
L 1NFQRr
STATISTICP
1AT10N
E
UJ
SCHEI
PM90
JCE hAEASURES
4Ai
PERFORt
JNICIPAL INFORh1AT10N
1
h
PM91
AANGE
PFRFOR
Prd92
NCE 1v1EASURES
JP
PERFOR
PM93
PERFURh7ANCE v1EASURES NOTES
Prd94
ERFOR h
I
1ANCl
1EASURFS
OItESTIONS
PM95
ERFORh
N
P
E
r iv1EASURES
CROSS BDUND
4RY SERVECE DELIVERY
For the pucLr
ecords of4hr
his
ec
TIER ONLY
UPPER
FIJttID EXPEtJUI fURES
1TION
FOS
S
Ea1EASURi
80T FOR THE CI
fY OF 70i20NT0
EFFECTIVENESS
OPTIONAL
cf l
nis Firiantial Information Return the amnur
ts
muriicipahty and
il cansiihdalc
i
FinanualJnforrrelinn Reiurc
nas
Bien
esed
c
di
EFare
to
ames
oo
Fax
2699
360
705
a
un
Em
o
no
1NehsitC addre of
0291
udil
u r
rdEunia
3il Fnrn
u
al r
ip
raun
Ross
0 n
l Treasurer
hiuniup
Eernard J Christian
3
i
al r
fti9rrnirit
na
i
le
C1
13equrred
dily
auup
tvl
ail Rcc3u3red
Fn
Municipal
Pope
Company
i
city
t
Christian
Bernie
nmins
al
i
of
SLQ 1u3p3G8tS
caipts
IRedeniieFOndR
Tn
C53
TotJ
rng
Gin
ut
al
ililie t31
Bate
rt a0
1Q
910
197
9
20
13
723y289
136
YUUt
7
069
377
29
Jn 1 ear Critral Errors
Q
Municipal Data
1
rhyl
7vliint
6ata Source
y
Data
List
14fi
19
GU4
t
l
v0
pul3lit
F
ri
raiillr
up
t
dnhon
ca
on
Nrv
1
2009
Treasurer
ObO
S Uururidetl Li
Exp LE
I
ca
on
timmins
citv
Sig nature
OO U
ano
lOWle
j
1
1
t1I11117
GItY
C
l
0
5
urer
Total vsset
4Lr
td tPrc beaks
in erient
1r at
a
R Howie
261
360
705
r1
i7
are
tfie Schedules should be addressed tu
Talephdrie
Signature
drrle
ch
in accord3r
e roith the Finanr
i I Enforn
titjrn FFturn niatructruris
2
On
no
cn the att3i
1
hr
rrhlic
ame
3
d
ONLY
FIGELNC
C
Y
ed
contait
Questions regarding the informatron
o
2iu
TIER ONLY
VJEl
LE7Lt
SIN
997
42
Stets Cart
010
11
Stets Can
Bryn i
ir
P
Revenue Fund Revenues
r
9
Revenr
1
f
26 91A3 04
Taxation pv
m
i
4
Lieu of Taxation
In
Payments
SLC 2fi 4599 r
5j For U7 SLC
Purposes
72 2S9
U
3 u1
55J
r UT CI
37 Fc
C 3 02x9 12 25 0299 05
9y
6
c3
i3 pnlario
1T
02j
9
i
1
tJnconditional Grants tE23
Trensiaanfitmdipgunt
ri3
Parfnerrnp Fund f dPF
1unicipal
15
erC
LE95
iMPF
Other
CE3
Other
Cb
Ont3no
P
Jtr
i
CCia
er
Other
Cr
i
074
789
15
Subtotal
nB
074
7Sc
Conditions
Grants Cr
grants g C
Otlt
1G
concJitional
no
auada
0
rc lditiurial
grants
129910
12
SLC
01 0
9910
E4 f8
42
02j r
a1
53E
2
x3
Seihtotat
Revenue
9
from other municipalities
User
1
fees and service
i Cd9
77 u
01
1c5
OSC
129910 03 1
SLG
charges fSLC 12 9910 04J 2t
119
Licences
02
a6
permits rents etc 11ffi
Trailer
and pennits 120
enEie
re
Licenc
antl J
s
Rents
3G
his 3
cnucessiciris and fr aii
93
I
erinds
4
Subtotal
5F
5 Pro
penalties lir
Offences pct h
i
dinci
riherfines
236
Penalties
f
ar ini est
on taxes 1
1
038
1U 1
2
4
dines
50
41
aid
rnsters only 850
m
umeiral FO
a
hkh
roL
ty
1G1C
959
1ii
278
1e
998
156
2
Subtotal
5
0fherrevenue
235
294
investriicni
incon ir
lot0
FfGII1
GVln fJ dS58
From
other 388
100
329
13
2fi6
154r
Conaiions
0
i
I
csf A
i
p
rihtiti
n
r
Clher
c
nuea n
r
Rc it
arliny
1n
Re 13Ur
llues
f
and C 8511F
li ionti ywf
Irani
atr
rrient
1s
ent ties
Jar J
1
non crinsc
iern
Biisineas r
nent
r
lher maulance
Dispatch
Cther
37
tdiscellaneous
51fi
JtheC
s
199
Grant
Iic
nse
teri
Crdidcnds
tc
I 1
852
089
Min of Healfh 1
2
Subtotal
Pdunicipal
Personal
1
19G
748
1E30
189
053
Land Transfer Tax City of Toronto Act 204fij SLC 84 0703 42j V
Vehicle Tax PVT City of Toronto Act 204G
SLC 80 0734 02 9910
1e35
Revenue fund Yevenues 5
TQTAL
0 c U72
Transfers
from pwn Funds 3
ii
O
Contnoriticns
u
TQTAL
7pTALRevenuefundxeceipts
iitii ri
ntr
r
ns
capital
romre
und
erg 7eserreiua
f LC
5Q 3410 111
0
J
2
031
i2
r
t
lsandtr
v
a
l
LCFiiJ
eniir
rr h 2a99
4920
125
133
2
9930
125
133
138
197
249
Transfers
Province of Ontario
r u
J
Y Vic
1u
5
pcv
c
r
lrv
r vncnrw
clJmulated
r
net revenue
deiini he3lnbng
1
PLUS TaG
Cd2
LESS
Tvtal revenue ul1
J
sC50
PLIJS
trrienls
rlitr
t
lIlflU q
1
tEd
Confinuify
Ct
Govemment Business
FLtIS
Net
cLF1
PLUS
j
LESS Unfunded
197
209
738
SLC 4D 991D 151
Liabllitlcs
289
723
736
aB
PS
388
136
J5C 6G7
ti Cr1d C
d4flc
3F
e
n
Enterprse Eauhr Feginnlr
D n Year
ortle nrGc
hl
rnment Ei1sa
less Ei
rise for year
lter
j
J
of line
OS10 inc
litles
5
3a Tex
f
lnc
Pro
Teal
x075
endlirJreS
Ex
B491f1E5S Bnter
n
emirle
06
f
ii5E Lllf e11d r Ye
Tctyl
aut
icr
reVerllJ
1
J
57t
year
of Government Business Enterprise Equity
C21
1
U
anlJe
re
a
iund rer
its ISLC
10 9D30 01 j
I
sc
0
f
2609 11
11
50
Ministry of Municipal Affairs
n line D7
D inc
rdes
as Tax
Provinciai
t t
e funds cnd
e resen
Ccntkibuticns frgnl Rasen
deferred revenuet
Province of Qntario
2809 11
11
5q
ara9 ondlhcrral
r t
lr fo lditl nil l
a rl
y
o3
a
Cther rs9un
Ipal
User
e
i
arni Frv
re
Y
GeneraE government
6 a
715
aSP
Protection seivices
t147
Fire
0420
Police
J
4
cnsereafi
L
rity
nauth
149
0
cllve
t
Pri
l14
1
J
04E
Qd9J
rjapn
Emergency measures
Provincl3l t
ifenccs kct FOr
Ulkler
0510
pection and
in
U
0
Transrt
054r
ParF
1g
SfreFf liyfi
iiig
birtrarrsporiatio7
Cither
0
06
0
Q6F
N9d
I
U
OJ
staler
s
c
a
rkS System
haste colleCtlrn
ISpasal
tZEGycking
59d
Li
Other
207
1
6
45
551
869
405
1
848
997
2
3fiP
0
5ia6556
981
32
141
8
856
j
479
138
Ll
J
1
f3lhllan P
r
7
11
1LWU
Cemeteries
852
604
460
171
Subtotai
Hcsplials
0
744
4
461
746
8
708
0
67fi
68
I
I
mtl cl
G
larice
ch
p
Y
740
3
I
Other
4
3
r
l
Subtota
Social and
09
20
j
l
SFf
D
J
1
748
4
201
676
68
0
153
533
14
414
2
213
055
1
133
453
337
family services
aneral assistance
123ir
ItanCe tip G
ed h
rsrnls
Chlld care
92 B
the
C
ins
010
7
272
Subtotal
t259
I
1
952
1
973
822
G
524
Health services
Filtkl tturs
t
Ili
ut
u
1o
11
a415f
335
2
yy9
ij
n
1
n
ciiaste
n9C0
t
1
923
535
Suhtotal
94u
EG
ii
1
9
c
a
Envirgnmental services
aief system
nltary sa
S
em
StprnlscvrerSys
09cit
n
10
a
s
fr6Gy
8910
23n
16
Subtotal
llJnter COf
1
tf6t
059
24
871
303
utrot
c
Cadn
P
ays
11
h
500
148
674
Socialhousriy
L
425
543
21
I
I
055
1
133
414
2
213
067
3
678
067
3
678
1
l
Recreation aiid cuEtural services
16iG
rk5
1n2u
ation prograrris
zcn
840
7
1
16
tiurifasllltles
w
Rer
ShHl11
Llarilia
GoliCcurse
4
1G
Recreation facllltles
1n4n
rares
Lii
I
irF
Cultural en
ires
16
lhrr
C
o
d
1
409
134
L
thcr
C
500
19fi
1
008
I
829
102
30
41
000
1
720
42
28894
I
1
a6
Subtotal
477
152
000
1
041
308
588
99
0 j
420
1
94
u
i
161u
u
16
4f
1
r
Sri
9
1
i91G
991a
nnn ci anli uiiiiig
Commercla anU industrial
tlal tle
le
Resl
opmcn
re
staiiurt
r
hgrladture aiul ref
P
Tdc
horFllnr
c
a
n
L
390
37
I
6 78
678
I
I
hi2
t
L
I
Othe
04
308
Subtotal
588
99
0
068
716
r
Gth
70TA1
JI
764
27
5 5
1
1 0C 1 i
21 a
302
Generat lnformatan
Optional Property Classes
I
in
Effeef
J
r
v
iii
hd
75
n2
CV18
0215
tdeaa hdutG
ldentief
Re
Y
G
ot ncludasCJ CR X Cl GZJ
Parklnc t
N
Et
ifce
r
ng
Eulh
S
ShopF
ng
0226
ar3
l
s
D
N
Gzntre
N
atdustrial
Y
N
Otner
1 Thre held
r
Decrea
Capping Parariteters
2
and Results
Tattirlustnent
rcenr
r
7e
LtCla
t
cr
J
rs
as
Annualizes
act
ImF
Lmt
AThrrshcld
aluefcr
at
7a
i
Limit
er
rata a j
rihied
e
F
rr
G
n
s
f
3
E
u
e
ra
r
wd
ac4
per
F
e
a
6226
1 i
1r Re3ltlentrdl
f
0
84
993
0
0
10
0
5
250
0
i
33
L
Gt rtmerclal
5
23
677
759
0
0
1D
0
5
250
9
r
I
J
2
96
368
14
0
0
10
0
5
250
0
Ihdtstrial
Y dznd
CG
rac T3KF
ats
tTas
Jumher
in Effect
Bani
z
3
1A
Graduated z
T
ation Taz Bands
3
r
tGtD
C
L611
1
i
N
Parking
N
t
L
C itfirc Euidinu
61
1
i
1
1
ii6
L
a
iFa
Pan
3
YearEurrenrNha
aunt
reimo
Hp3
u
es
VA B
urjary
e
Bandk
c
7
R
s
N
ing Centre
Shep
t6
r
i
fHiahest
4
s
R
rJ
anniucial
i
Bounearv
IdGr B
Pi
n1
N
lal
t
Indu
N
3rpe InduStiial
L
N
r
Fhas
rcyram in
f
Ihifiafeo
Fhastln
Effect
4 Phase
In Program in Effecl Pdost
fi5
Gf
P
IaEfIJ
F
Gil
fv1
fAuIL Residential
i5
i
hJ fJer
s20
i
iS s
rnurieial
recent
In only
PJrase
2
3
4
YorN
Year
rs
of
N
i
ttial
lde
Re
lvlulli
N
InLludsG l
i
Sj
iaf Iac udus Ll
dustr
lr
N
N
ap
L
j
i
F
s
c
1an
h
T
o
gedFare
N
P
N
ei
i
i
ri
Finadard
N
peline
P
Rebates for Eligible Charities
5
fidte Percentane
k
to
a
N
c
frir
EligiblF
c
hariti
zl
SLC 7 7U9 x
I
4
INTERIM
itYear
TaxpueDateSfOrCurr
PrOperhf
6
To be
Inslallments
contplcted by ticCf
cr Oiily
a
SutglclLo
4unicipalitics
3
a
5
D
YYYYMM
YYYYMMDD
FirslDueDate
6
YYYYMMDD
LasEDueDafe
6
I
7
YYYYMMDD
R
t
1
20080229
2
20680606
26086829
1
t
61 till h
ldtnhal
i
20080229
2
20080606
080829
2
ri
F
Iard
Fae
1
20080228
2
20080606
26080829
240
T
dF
a
9
P
rest
1
20080229
2
20680606
20086829
1
20080229
2
20060606
10
i
r
detra
LasfDueDate
Installments
0ate
Due
First
2
FINALBilfng lnstallmenis
Billing installmenl5
C s
murcial
n
i
260
t
Inuustrial
1
20080229
2
20680606
70
f
t
tellne
i
I
1
20D8D229
2
20680606
129
Other
i
2D086829
I
20086829
20089829
t
N
r
I m
hJ
n
o
V
I
i
c
in
o
O
r
Q
u
cJ
J
r
r
0
0
J
r
r
I
Ir
i
m
o
Sj
r
r
I
I
ca
s
J
Vt
cJ
nI
T
i
iii
m
u
y
i
I
I
r
I
1
y
o
i
r
r
v
to
cl
r
i
it
J
I
I
ul
rf
r
I
H
m
r
J
I
TJ
f
r
V0
J
ct
O
r
r
L
lf
U
1u11
J
y
K
J
f
yam
7
0
a
0
0
o
e
e
N
rmL
1
4m
N
ri
N
V
V
N
V
N
N
A
W
GO
O
Q
M
M
CO
N
V
o
0
0
o
a
a
S
O
0p
0
Q
a
O
O
ICJ
4
d
O
d
d
d
d
V
V
N
D
D
rp
D
O
O
N
N
N
d
W
W
l
t
O
O
N
O
d
O
0
0
N
0
0
N
4
M
o
3e
a
2
N
a
N
cp
OO
Q
f
N
f
r
N
N
e
N
r
N
i
i
r
J
I
1
I
i
i
e
H
u
J
1
e
fti
r
C
f
D
d
o
cD
1
4
i
CJ
i
11
rn
rn
m
adi
C
I
e
N
e
e
e
N
N
N
Q
N
Or
m
W
i
O
O
O
M
C
e
e e
e
o
0
0
o
Or
m
N
N
6
N
N
N
r
r
ti
N
N
O
O
Q
CV
CV
tiT
m
5
j
r
a
o
a
o
o
o
r
N
O
N
Q
N
i
Q
rn
M
N
O
Q
iV
N
u
i
r
N
M
rfi
m
m
tWrJ
N
d
d
ni
ri
m
P
Q
Y
d
rT
N
i
d
N
n
m
ao
a
iQ
O
I
E
w
Q
N
G
N
m
N
t
v
im
ao
y
rJ
V
o
n
O
m
m
v
rn
rn
O
9
6
h
N
n
o
r
7
rid
o
o
j
If
m n
m v o
cri
tlp
N
N
io
N
m
ri
CO
N
N
i
d
O
rri
r
c rr o m r o m
o
1
I
N
d
O
i
9l
N
it
m
F
o o
N
i
I
t
o
n
o
o
e
E
d
0
o
do
o o
m
e
o
a
o
d
o
d
o
d
0
d
0
o
o
0
I
o
o
d
o
o
r
n
s
n
p
o
o
o
0
a
n
o
ca
I
Imo
o
d
r
I
w
l
I
o
p
o
a
4
d
d
I O
x
O
r
l
a
Oo
O
o
cp
rD
io
d
d
do do
rn
n
N N f
n
c
N
N N
r
r
r
I
o
r
n ti
d
d
d
ti
o
N
n
r
N
N
a
d
rd
I
n
i
a
d
o
m
m
ti
n
p
N
I
rn
rn
rn
d
o
m
te
r
M
d
n
I
N
N
O
o
a
i
N
Q
Q
i
n
d
rn
N
i
1
I
p
I
I
a
I
O
F
o
i
n
m
a
n
o
n
cz
v
v
ei
ii
ii ti i
F
w
a
S
v
v
a
a
v
a
v m
s
m
J
0 0 0
ii
ci
w
a
a
v
v
w
m
J
o
w
ri ii
7
m
w
a
ri j
w
I
O
N
p
9
V
c
F m
c
C
m
0
N
E
r
cn
Ql
13
ca
o
C
d
N
N
Ei
O
t4
t
I
o
I
o
lr
N
u
w
7
p
O
19
olo
0
L
0
r9
N
9
N
p
p
L
ii
w
L
a
a
rn
N
N
ri
I
N
O
C
C
U
I
c
o J
o
o
I
N
rte
0
J
I B
J
x
X
K
J
H
N
w
lz
F
r
I
x
U
U
U
U
X
U
d
a
I
i
I
w
c
E
o
i
z
t7
v
J
o
I
a
I
d
o o
r
w
m
J
J
v
o
w
m
p
m
J
U
c
d
m
O
m
L
m
U
J
a
0l0
E
II
SY
m
0
a
fIJ
a
0
N
ro
J
d
li
r
7
r
o
cn
r
1 i
x
x
i
x
J J j
I
u
C
a
d
iJ
7Y
N
CI
I
1
f
N
0
m
w
0
0
N
0
a
m
a
o
0o ii
i
H
i
0
O
i
c
9
i
I
a
it
I
li
1
W
J
4
V
H
W
1
Q
U
w
Q
n
cn
a
ti
t0
w
U
V
C
O
c
LLJ
J
d
U
O
Q
fi
d
O
i
K i
LAJ
o
O
c
W
OJ
7m
m
U
Q
F
rv
O
J
I
O
i
a
m
c
0
a
m
c
o
a
n
rn
a
r
rn
0
0
N
n
F
T
o
u
ry
w
0
O
0
a0
a
0
m
rn
0
0
N
a
w
0
0
N
o
to
c
P
i
o
i
o
o
o
o
c
P
o
o
4
P
0
4
0
P
o
T
r
o
o0
0
n
P
o
o
a
o
O
O
O
O
Q
O
N
01
0
r
I
0
I
o
o
tti
r
010
ti
P
O
ICI
ti
P
c
i
U
O
i
I
r
SI
i
v
a
m
m
O
J
h
Q
J
LL
d l
d
I
o
y
O
C
m
m
O
LLL
t7
J
J
J
Q
d
d
m
m
o
O
V
N
N
N
r
m
a
ro
4
v
m
N
U
i
J
B
a
C
C
O
O
m
w
m
m
Uji
J
J
J
a
d l
d
a
m
m
m
m
a
m
W
o
g
l
C
J
u
LL
a
a
j
W
J
J
a
d
I
E
l
M
n
w
P
Q
m
Ll
a
y
U
CC
I
m
W
Q
it
n
nl
m
U
a
O
C
C
6
m
N
C7
f
cil
a
N
n
i
O
n
I
h
w
Q
0
q
o
LL
w
ro
i
9
o
I
W
c
O
c
d
o
OO
Z
m
P
I
G
O
O
I
o
a I
o
l
WI
S
of
NON
r
I
o
O PIP
ti o
O
ciI
X
f0
r
N
El
m
m
cY
I
m
o
E Ei
E
y
m
o
i a
aE
m
E
m
h
m
E
o
U
ViU
it
ololo
o
m
m l
lo
o
U U
0
o
a
O
0
0
0
0
W
w
C7
O
L
I
0
u
o
a
N
J
G
N
0
m
rn
O
O
N
Q
Q
C
3
O
L
N
C
O
C
O
C
O
a
i
o
N
D 6
I
IY
v
4
a
u
a
I
I
I
J
00
im
N
O
O
x
ii
C
I
Gi
i
a
i
n
I
c
v
I
1
4
i
I
in
l
1
E
I
1
3
n
v
r
o
r
a
P
v
I
M1
N
r
c
4
J
a
rv r
w
o
h
o
P
n
P
CJ
N
j
o
n
r
n
P
r
P
w
T
m
a
o
o
frc
k
oP
o
P
N
o
0
0
0
g
N
my
o
o
E
NI
J
II
T
O
P
N
Im
I
N
E
it
hc
o
a
a
a
oE
W
a
E
n
i
I
4
16
r
o
a
3
IP
r
r
I
i
F
a
j
1
r
I
N
0
i
h
o
m
C
N
l
JI
0
I
I
m
o
n
c
Sri
P
MM
tl
ri
r
c
N
ai
s
of
m
i
i
i
i
01
P
n
w
oit
m
II
a
CJ
1
Y
n
o
wj
o
1
3
I
N
E
j
r
1
pi
ym
g7m
U
1
N
I
i
I
I lc
i
i
i
y
I
I
i
o
r
s
2
2
LLB
E
o
c
i
i
O
r
v
rn
F
c
CJ
Ci
G
od
o
J
4
o
F
U
V
u
E
a m
m
iii
i
M
oM
0
I
W
o
o
I
f
o
t
o
I
1
J
m
I
3
d
I
li
O
E
O
n
7lJ
Cn
h
ti
6
O
i
cH
I
1 p
l
I
j
I
t
3
Q
4
fl
F
g
n
x
t
y
z
J
a
S
3
li
n
L
C
J
d
v
O
u
0
a
d
Y
Q
y
H
c
i
IJ
r
n
U
d
L
i
U
O
S
a
p
IIJ
s
1
R
C a
is
W
o
c
C
O
Vi
n
t
G
0
0
y
I
L
O
L
O
C
Ci
C
C1
o
o
u
n
E
i
I
I
I
I
u
f
Ii
h
I
x
j1
ti
a
I
P
o
ply
y
s
IQ
B
r
m
I
I
i
i
3
n
r
I
f
h
h
E
3
f
F
K
I
I
g
f
N
3
1
F
I
j
W
I
a
s
M
rv
m
I
i
I
I
I
I
Ii
I
n
v
F
I
I
i
m
i
Imo
m
M
W
ICI
d
a
o
s
I
I
b
r
i
i
e
I
i
U
I
I
II
mom
aI
m
i
t
a
M
I
l
ee
i
I
I
i
i
i
n
I
I
i
I
I
i
i
i
I
i
f
i
I
3
I
I
i
i
q
F
O
0
a
II
i
a
F
F
a
t
r
s
I
G
L
C
9 11
2D
11
50
5chedulc
Additional information conlainEd in
4b
1
Total ofxolumn i and 14 includes
1
n1
Salons and ara
e
vi
Employee benegits
a
Fo
nfundej
C
7oa
zo1
a7
605
656
15
Llablitis Fe a
nin0
Emrloyrrent Feresds
Pcst
to
989
315
Subtotal
mg9
Total
11
c
1
c
174
63
of column 3
includes
mou for
r
its
tai
is
o
writ
repgited
io SLL 90 025fl L13
Total of column 4 includes
21
nt Corpcrah
nu
n 1PAC
unicipal PruNcrty Aascs
f
J SCE
4
Totai of cnhrmns 2 and B rncludes
5Y1
rzahon Ptcgram Icons
a
i
Cntar In rFaoectof Dovintown Rey
i to u
Payrricl
54CO
4ccriictl rn
rllaf balls vrere glade in tiffs
nt onhy r chan0es t the ar
stifnteraniot
cr
Total
eulr
rzporFna y
ar1
of column 5 includes
Short termlrltereetcosts
UI Ori
Total of coiumn 6 includes
6iC
ahon
ani
reandnorrptohEor
GrantsfoChantat
0
05
ranEs founluersrtl
f
s
and
collage
41 ED jo
LIG
IJNCCfJS
Contribchcns to
nt lo
dards
rl l
15U
5
H
2
1tn unit
alCernce Atirt
CiizlrictSec
ation Fcafd
t
lm
5566
Idated
inso
tia
5576
heaaed
ilomesfcr
599n
rc ort o
c
r
rds
56fn
Fire ari
3 b03rd5
5nr
jtner
rt
SN
f
Clth
I
liiupU t0 tI1Q
crt
591n
Vnlenl
P
ct
5
mtnt Fertaininc
s
P
Total of column
C1u
SSABI
e h
lanaynr C1
1
75
lrlunirlpat 5enrl
to the
P
n
J
IIIdIIZc
ri
rdl
G2n
lalv
e
d3n
r
rt
SIJtdII f P In ff1P a T
oar LH
lna
u
fhe GTF
Irl
11 inclrides
9nents for luny
r
P
nn
t
nts and Ilawilities firance3 from revenue fund andappr
ctirtimltrnr
hy
ved
icluJe dectclr
E
ges reporter
In
Llrnn
cG
i
the Qfvl
or
and Q
Lind 0610 of coiimin 11 indi
des
t
Storm ara
er
Line 0630 of column 11 includes
ciln
r q1
ices
ltcnaltranatsen
omic
Line
OS
D of
colrirnn
11 includes
SVi
h
iion
Sanitan ver cole
p
wllrlcrrLand tlupcs
niialy tierj
l
qr
c
23
839
2
50
Subtotal
4
C
clp79
a
0820 of eolurnnll includes
Line
r410
nil
St
seevercollecEun
6420
rin
Jtc
ewar
9
beat runt r
5iG
129
JI
aosal
Subtital
ar
I
Line
OS20
of
n
5
0
1
column 91 includes
ll
L
tJarl t01IT7 atel
t
t4 yFfnCilt
ITtgl
d
r
ater
aural storm ta
57U
129
t
errer
rl3na
SnbfO@al
9C
E
570
129
0830 of column 11 includes
Line
b1
dntarw
v
r
1
f62
datcltiYar Jisfrlbt
V
llrn
rr ja
tructmerd
210 I
4
369
c
978
2
281
Subtotal
188
7
650
Province of Ontario
Ministry
of
Municipal
2069 11
11
50
Affairs
Ftndaur
IE
al ish im
I
d Li3glli7 nd
funl
Ur
Total of coEumn 9 includes
631 r
L
l r
da
nd Pua
funded Schd1
Ur
te Ldi
JG
ufu Isahilgla
61o
s
53G
F
tast
Gll
Acciuev
4C
6
GnranicUcn Fihar
et
C
ing entures
c
rs
l
t
I
1
2
3
2
5ubtotat
6DS9
Additlorial in
ormafion contained in Schedule 12
s on
CMSt
y
TOtal of column 3 includes
Revenue retie
aed ironl ether munlcip
lihes for
SeNICPo
efcd by
IIL
dP
o
1
CMSpA
i
a611tr
Employmeps6enefits
idcdFcsY
Ugfui
C
y
F
0
9
r i lel E
P
ricitur related t
p
UnturiCej
oiusLhienL
A
n
Province of Onlario
Ministry
SQURCE5
Capitat
of
1i
11
2D09 11
5D
AffaSrs
Municipal
G
FINANCI
of CAPITAL FUND
Fund Revenues
1
S
Long term iahilities incurred
c
fti
C
rtgage and Housing Corporator HC
1
A
5
L
Canada
C21G
Ontario Financing Athont
z15
r
0
ara Itnploveinen Program
tal
Carrlri
Other Ontario tiousing prcgra
s
l
F
0
4
eter Ayelcy OU
0litario t
8n d
AI
4
C2if
TIIE
E
01
SEnaI dEbenhJres
24
t
Sinking
rq4
loanti
Long term hark
u2 0
tErm reserte fund harts
Long
5
U2
Lease urrhasE agreemar
l IrasFSj
ts Tan
ihile rapit
o3La
ntures
t
cticnFinsncingC
Constn
u26
o
Onta
o
OY
Ot11Ef
s
i
TTS
efij assiClance Frogra
drainagE iritl slrorEl6 prDl
rd
fi
ienentures
J
rte IsTfrasiruClure Frnaii
r
b
ie
niy huth
h GSIF
r
j
5ubtotal
59
x
Grants arld loan
forgiveness
U410
ri SLC 52 5910
8ntc
03j
u
u4
Canada iSLC 2 191U
04
Canada Gas Tax
s0
U4
11
a
594
ag I
und
SLC
n
2 t91f1 1U1
Subtotal
193
0
Other
a
qe
inancing
PrepaiJ liaryes
t
al
i
7
F
c
Eds fhJrn Salt
Prbr
I
t
j
r1@ 11
910 r15
and fees 4 LL
5 4
municipalities Grants
JF1J
S rhal
C
Other
E
f
r
eliti
969
33
eeds tram
Pror
sale
erJs
Pror
sale of othe caF tr
l as
uonr
irldEStiTlell
Frcrn
rf t
ydr
il
uhli
I
325000
cs
ITTF
InC
iJ1r1
Il
tlli
iS
FrOm Ottler
bi
7L
L
nationr
G
a
l
Cllhar
a
c
Utne
rlnerC ntriautin
P
358
115
subtotal
TOTAL Capital Fund Revenues
9910
ul
bcns iron avenue
trib
ordribaU n f
rn re5
ave
f
r
d
r
f
r2
e
1C 01 j
SLG52 9
irli
ue
rever
tiLC 2
5910
Q2j
2 9
4
431
885
TOTAL Transfers
from
own
funds to
TOTAL Sources of
5530
B
J
13
631
9
631
is and dcfcrr
i
d
9920
CATIDN5of CAPITAL
APPL
it
capital fund
Transfers frorn ovan funds to
2010
aa2
47a
capital
fund
capital financiny
062
517
10
706
22
Ci5r
FUND FINANCING
ib
ilitieslSLC525910
CapitalexpentlitilresLESSUafundedLia
i
I
F
Transfers of proceeds from long term liabilities to
n
2
rmuniriGlti2s
Oth
770
eJ local boards
onsulida
Llnc
3150
S
a
idiJ
Ind
5ubtotal
v
0
Transfers from capita und to own ftmds
Ja1rJ
Transfers t
7
3d
sfers to res
r
Tr
irvus aril
anue
rE
0
fund
nary reseNe
ic
disurz
ds
ur
iSLC
1iJ U1
U 4
2
r
969
33
J
1
9940
TOTAL
Subtotal
969
33
Applications of capital financing
23 033
302
112004 11
11
50
Province of Ontario Ministry of Municipal Affairs
CONT1NUfTY of CAPITgLFUND OPERATIQfJS
2
U1C
CapRat fund balafice
cinpii7y ofyear
t
t
t5
y
t02G
PLUS Total Sdurces at Capital
GC
2 Ou
E04C
LcSS Tofvl
3
23 J
302
CnLC
U11
Financing tSLC r9 993r
40 01
tions cf Capital Financing SLC 0 9
Appli
FLIJS pdjustmenls for PSAB
1
r11
j
t
P
G
50
rcpitat fund batancc
capital fund balance
UO
C
d cs
c
end of
ar
r
11
year reported
in Iine 5090 is
analyzed as
follovas
Unexpclded Capif
l Fina
1
tclri
LESS
2
4
41
11
m
lJnfinanced capita outlay to CE ec
reccde fr
uses chcrgcs vnthin
E41U
cn
Taxat
512C
Proceeds frcm
tdnq
13G
E
Transfers frcniresan
ds
es aril reseNC fur
G48@
Cthe
or
tcm of council
tents tiabilitiES
tJitfinanced
GG
Total of Eiite 3099 includes
iial Gas Taz
Pruvin
Total of line 0420 includes
i
n3C
lr it fuudioy Pill
Cznada o
Total of fine 2020 includes
Prnvlnr131
Ui5C
zsTax
ft
fPdF
CnL
a
9sj
C
Contribution
T3X
iig6
f
i Tians
nad
t
u
end of year
412
41
11
5
Shertierminteresfccsls
Total of iirie 0490 includes
r
t
Capital Outlay
Capital fund balallCe
9956
t01u
P41 4
1
intdutg IEIII C
ffij
from
Reserves reserve funds and deferred revenue
r
Province ofOntado
50
2449 11
11
MlnistryofMuMclpalAffairs
Ol7RCEi
r
C P dilr
dJb
IhiJti
IG IJL FLIIJJ
xlhl r5 yii nh
l Flpn
ls
l Grar
i
aA
n
en
F
e
F rd
F
r
e
f
d
7I n1a
u au
I
S
L
73egrr2l nm
yVVe rant
P
P
m
i1
ii
z
ai
7
a
F
IF
I
J
11 J
IJ
LI
II I
a
I
5rn
r 7 tn
F
t
P
r
4
1 9
i 11L
Ipa
rhll
9
fi
1
10
tT
4on sxivlcee
i
CJI
319
347
14
4
t
cn
cna
4u
t
rr71
risFulun
5
C
Fr i
q
r
ca
kFV
rr
3
ti
fl ILi
h
1ui
acd ttnrc
L
U
139
6
138
6
Gaa
719
779
5
5 i79
I
4
TL2n9
btntal
x3
C
F d
x
293
815
440
4
709
or
0
G1G
37
0
TranSporLngniCxrac
J
9a
0
j
I
1
LIFC
i
c
i
1
e
t
77f
372
3254051
016
37
i
hunhl
vu
094
252
3
694
252
FI
I
G
r
111
1
11
i
L
L
Tar
1 Jnj
F
F35662
4
003
325
L
562
h
435 523
5
5 47
3
S
I
T flal
471
7
023
471
1
423
z
tA 1
41
1
Fadrg
441
60
441
60
Eq 341
J
I
i
Au
503
263
503
263
13
x
iiatad
tran
6S
6
u6mldl
o3
d
Env
aI
rmn
243
875
l
1l
SJ
3347
vn
3
f1
SVa
yv
25n d95
7
359
x
079
1523
f
1
544
11614
I
C7
t1Jy44
I
f1
y
I
I
289
465
10
Y
I
L
6
0
U
4
971
233
296
407
1
Y
R
WV1
n
03
senlccs
y
O
692
d
E3
4
i
942
73
942
73
J2
24rs6
z
X95
gcJl
P
g
7
J
rer
o
173
7
3
l
mL
Su
9
1
itsrzs4
1a
4
4
0
4
o
szhine
l
ise
wn
ails
n
I
Fu
e
m
10
FLT
Ila
our la
10
n
Fn r la
dl a
ii
157
52
343
474
11x4
t rrc pit
634
98
895
155
895
155
238
626
62 J3
38975
975
38
f
F
I
4
I
o
I
nx
L
34d
4i4
I
41
Idl
SuL
IL
ocul
12c
andfarrilY
F
i
I
750791
4
n
0
0
0
ns
c
Ilw
J
38975
Ir
MY
i
U
0
u6 o
al
1
I
if
0
0
O
975
38
it
0
0
975
36
975
36
T
11
6nu711
nue
rre
R
l
n
L
n7
D
vlca
i4J wlWra e
t
11Y
lxlp
1
i1
Ic
i
r
I
n
r
F
li
w
F
r
SII
d
t
cr
113019
IM
4i u
I
J
H I
960
12
555
269
6
c
r
uLLW1
a
348
713
096
523
096
523
410
20
444
20
598
85
598
85
452
742
952
742
4
440
330
434055
iua
a
dllu
348
113
I
862303
0
29395
43522
395
359
4352
0
555 I
evclu
c
Plarin ng4cd arch
1C
c
nand uld
C
ra
I
an
I
9L
1
804
100
9
l
n
ala dlydu
rani
754
34
9910
993
232
149327
202474
I
i
4
551578
c
f
i
r
h
n
J
4
0
188
74
993
232
23
4
149327
0
742072
L
472
702
4
rrmLEuai
W
50494
r
578
551
I
358
135
r h t
tn
Y1
3
150
14
1 4
27678
l
estl
56
sL
aan
l
Subbr
99
3
j
i
e
to 51
7
e
n
n
v
t
r0T4L
fi31
9
fi31
03i
RAS
1f3496fi
448
359
Di
0
882
474
O
I
23236064
J64
6
232
1
Province of Ontario
MinisW of MunEdpal Affairs
20n9 11
f
1
71
5n
rJ61
atniy Res Funds
I
1
Dlscra ass
onary
Funds
cerce
R
2
4
0233
Balalzce beginning ofyear
Ja
t
e
a
tt 5 571
I
Revenues
J 1v
t
rorllna
GGnlr
ns from r
l
ierU fi
na
rlS l
I
rum
plt
c
ce
3
i
Subtotal
1 11
0
r d
aAt
i
Glccounled
da
j
iJrwj15 Ulllht
1
11eYr
Lr
Clj
Sucd
J
credhu
F
la
L
Ac4l
4
n
t
Iriv
a7
GeY OGJr9Uflt flargES Arq
Subtotal
bevzlopmentChargES
c
Act
i
1 FI
Ja r
CWII
3a T
1
lluu
kU
r1
nL
IdI
Ru
0
639
5r
Z
9
n223j
t1
IinP TaK Ftz
Pral
anada Tra
sii Fu
lc n El I 18
9854
Build Canada Fund BCF
ng
er urliRaSefY
Ir
erve
e
P
crTiGnsfer
r
Glfl
Other
G
1G
lagcs ucloli
rrn
ha6ilt
0
10
C7l
L
r
1C
Leve prrenf r
h ryes AcC
IiCIII
LI I
S5c1
iL LrVE
r
i
I
n
460
8
IJlld
i
fi26
75
ipal
pnirr
e
039
176
fi94
5
348
150
14
IrB Jlll d l
Jf ir 3
lts utill d
a
L
UY
r
1
655
795
362
387
and Interco
LIIJI
IFeYEnue Fund
ISII
I
349
s7t
TOTAL
Balance end of year
217
2
598
745
1
763
r
9920
2C
I
097
9
Expenditures
Jni
l
dliJC3pe
rr
Tran
I
J
r
TOTAL Revenues
i
nlr
1
i
Tan erred tc raean
le fund
e
i
458
126
1iscellaneous
h
iC12t1
l
i
t
L
L
9910
1
1C11
Il r
419
1
495
Cirh
q3 5
I
320
21
222
fi3
Jpa1
7530
a
Z
0
OC
3rJ
r
800
29
aar he F
iulrlu ctl
IriCl 1lC
t16
nlrJ
Fr
Jc
I
s
jer ntntulions
nfiJrjs
mov
rFr
Ui57
4558
6 rlrl
JICe
F
m
r
5
lrf
Fr
d3
2
J3U
5 5 fiS
1a
c
fund
c33
CJ1il
L
u
Expenditures
392
2
7381
334
1
832
v
i
150
14
002
4
575
i
183
f
017
902
596
15
Province otOntario
2609
11
s
@cRr
rryF
rtlgr
Uatemd aa
s in lino 2099
Totes
3i1n
analysed
arc
as
ufr
rubunnr7Fr
Di
50
11
cites
follasvs
3
24x7787
Urt
v
ls
nJinrr
t
v
aear
5rsn
A
s
I
t
rNje
r
7
h
r
ce
rr
1
l
etc
r
ev
f
SCaO
ater
J4
OCO
f eau pm
aplecementc
hi
ru
a
ick les
e
iii
0
r
581
153
702
1
070
Jo 4phce
f
a
O
Fr
nm
SEfC
r
1C
is
lrrn Ecn d I6i
In
ra
1
nr
st mr
cnlbcrn 1d
lcvi
6
c
656
168
insurarr
o
1
880
163
c
ie
cs
arFlrgrwcr
462
282
re rc
nt
ct
ayrtrnt
Eiichan rats ylabil zatio
e
Burrent purposes
era gc
Ge
emmenl
r tton5
1
s
n
i
iq
S
ran
pcrtalior
Rcadmays
ice
eer
i
nsdc
Tr
r
Envcanmer es
ervi
I
rrar s facrl
rys
n
3L
stem
msrwers
51
545
SC
1
p
eiii
al
F 3
h
rvir
c
eg
F255
1dJ ul4 ervs
a
es
l r
r
SL6C
ial h
uSang
lU
e
n
t
r
F
i id ial
e
u
FifiF
Gs
F
7a
n ta
ilnCs Cth
R t
r
alon fa ili i
Rw
ec
cL
i
Capital
Ire
PI
n
1
5161
416
IEF L5f1
JE
EcEF
1F
F nq ter
1
icas
1se
a
p
criatinn
f svay
saCO
i
r
es
rnr
a
I
5aio
dmtarr stem
tvt
hfrri FtrF v
tem
435
tiGrh
3
roUl
ysteir
5440
tecclerlrn
re3
5a4
le
r
vv
5451
I Iln ci
i
1Ji
i
o
i
l
p
iii
3 nJ tarrif
5455
5460
I
rPPSOS
r
hr
le
Fr
T
sale
iicr
e
LuOiiiy
3i
r
alh
icr
er
Parks
F
5a
lCnna
f
MiHill
5411
Ifro
es 4
l
i
Recreaticnfa
5474
dti6nfaCiteS gher
RBCra
s
CiBfarii
5475
5490
5619
561J
5641
565J
1
5G
5nB7
and developmer
Planning
01h2r
H
TEUFFO
51Cf
OTHERC
oprarr far3es kr1
ve
rt
C
uGJi
Zr
rEiut
ir
Sri
155
640
aice
se
r
3 taxi the F nmr
ipr
I Ct
31
mlJn od cf 1 ia ems r n 2
794
167
ra
eSU in
Ta
asuim Tai
5692
Canada
F
n
I
1C
ii Sri
u
Funding 12111
Transit
317
419
565
107
t
98j
Building Canad n
ir d
F
BCF
5697
Other
5698
4iher
9930
i
Gis
711636
10
I
Ob reserve funds eferred revenue
igatory
dis ir
dsc
r
o
5
Ari Nan
Inpmer tar4
acv
S6il
5693
437
1
653
r
n ari
ir
ReCrEn
6
54
ra Ski F I
h4a
nt
i
iir L
i
Rlrnmr
r
Uli
5405
0
a
I Ci
e
urr
TOTAL
334
1
832
SLrS
1
p2
oc
1s
Province of Ontario
112009 11
11
50
Financial Assets
e9
u
Cash and
ent
estn
orary iin
tem
a
ae 5C
Jo
Accounts receivable
G41D
anar
t
a
D42G
o
Jafa
t
q
G4
rher
IJp
C440
iFn4hes
ml
TihFrm
SG
u
r n
r1s
ablas
i
therra
CJ
G
Gary
439
1
buY
106
2
816
y
eo3se
aaa
3
m
7
4
90 i
Subtotal
L
Tapes receivable
Gu1J
c7eht yr
s eerie
n
h
i
rzti enr
F
i
vl
t
t132
1
3
CG30
S
Pr1crYears is i
li
u
11
Ji
L
F
Inv G
leetables
arurcr
Ilurrance
LESS
inC
r
4a6sa6
719
1
173
oi
rilur
828
1
109
C
I
i
t R
oau
a
ubtctal
ae1
Investmehts
C5
lic
nir
d
G81G
Untaao
C 515
A1un
I
i
611
1
257
al
clF
Lb10
d buy ress Ent
zvzrlrrr
Cd
Gther
368
14
rpns
I
I
q
O
SubtGtal
625
1
5
Suhtofal
c
m Others
Rcht Rctnvrrablc rc
GS 1
C2
C
i
hduneip
htizs
rtds
r
i
u
t
c
d
e re
P
riBnt FuRJs r
G
r
1
5
C
Sink
8
G8
dhzr
rig
Funds
Inciv6Iil 1
S5
G
Oiher Cilannal assets
G
L3
ImerilGrzstaflfor
4G
G
CG
D
hd
tr
rwalvt
ltg3g
zrr tar race
C
d
e
st
G fi
aher
F
64 us
e
a
I
E
P
EREC P
TIE
SCE
ShJC DFEP
Cl H
F
267
2
512
Lbt0lat
C
tiq
IFinancialAssets
TOTP
5410
371
2
607
2s2AFr
Otherkssets
ul
ritore d n
Inv
atznels end
pies
F
s
aril
Ffiepaid
s
eas
etF
67a
1
441
99LO
TOTAC Othetkssets
3a
55ets
TOTnL P
hi I r
ne 062J
7atk xeluz cd Inr
P
el
stn eriL inchu
ed in L
078
1
441
068
377
28
Liabilities
1
Tempcraly
iG
l
loans
S
iitpJrl
r
L
ES
rr
purpcees
31
Cayol
2U2G
CariaJ3
LU3G
au
tii
1
210
Subfota
p
U
14J
2
Accounts payable arid accrued liabrlltles
G
L7
Icria
G
2246
nlhcrnlln
987
3
x97
lgps
If
G
22
EonccLt
li
lul
U
22
TracE 2r
GGCrds
22D
Ihl
C
r
paat
823
935
14
e
Subtotal
ib
1
x24
3
3
01
as
2so
1a
77etemed revenue
iU rr ri crxe
e
241 G
Il
C
D
24
ether
is iSLC
n
i
En
cG9G G
l
334
1
11114
9
1
SubtotaE
Long farm Ilabillties
1
251
Getitissuad
62C
other
tc
Crhtpayabl
2536
P G1
L
Lr lc
G
26
I
215
tD
e if
IIt Glpll 1 cl
IJ
rpdse
SEn1
fErnmEntBLCIne
laltGfUG
Ce5tGSUEGAnLe
LE55
C IlS
1
I rE
J
V
I
17
1
A
26
Subtotal
1
nr
21
SCIid PJasfe
275
hlanagernent Facility Llabilifies
e landfill clcsLre anc c
Solid a
c
o
u
ra
t
Post
employment benefits
II
rC
SCU7iu tr
1
2E2G
a
n
uh
arueiJtiJ
CJecvr
281f
d
N
4r
C
c8
1 rk
d 4
crm
6S rUy r
l
d
dar
2Fi9
Ihef
I
prn
c rs
499
10
ar
pa
Po
edI
B
Lu
i
15IE I
4
lull
GawIL
LEmn Lycen
698571
4
10
Subt0lai
94
TOTAL
Ll bdltles
42
T
LESS TGta Llabitt t et
Elrlan Cl3 552t5
L
T1
et5
EIRaI1Cl31 F i
9940
441
401
9945
9961
794
14
iAumclFal
1
Fund
Posifi4n
balances i
2ev liuef nd
S
I
S
391
5
931
r
rt
ar
G11
1
verve
Spr
624
223
G
1
har
17
LU
r
h
l l pc ial areus
GCE
r
i
1
TOUR 2fr
i
AIRPORT
ltlcr
Lora
I
11 1
s I
c
rG2
FD2C
P c
bJeM1 as
5G3G
yo
35
5
ilill3
r
iq L 23z
l
d
JI
NI
15 Lt
one
aL55
a
Trarsroporaficrl
r I I
F
r
E
1
11
I
I
7J
VOA
IhEf
Cltlcr
79
I
r
L
ther
I
i
sn3
CGll mem v
ur
c
and rana
ntr
5
Jl
a
n ultlr
I hnpwi
5f
9321
5C7t1
land balance 955
venue
R
iJ
Capital
I
i
fundhalance I hS
Res
IJ
and Discretionary
rYGS
Equitr
a
Ir9
rescrvC
Gcvl mment
Business
54
422
341
funds balance tiU
L fl
19
6 J 9
SL
477
569
i
ul 4
Enterprises 1 Ll 1G 6J 17
Fund bclanCU
4L
7
xm4unts t Era rc rvcrcd
In
louplen111131I1t1
J
i0
GI
c
st
G
lane
t
er
dtras F4
l
Sk
Gllr
l r
F
h
futurr
5G15
i
c
2341
liabi
Ih s
Ic
10
95 i1a R IT3
mMI5 I
P
It
I 5GS
047
401
9
I
ylt I LF3 S ur
T G L4 lhJ C
L
238
Sc
r
IJ
20
UbtOta
aC99
375
635
i 93
MunicipalPoSition
i
95
LESS
292
5F1
ycars
II cbsuro aid p t
csura
lovrli
I
terefits
rd
I
J
r
3
5
647
lr
7
1
1
1
TUT
ia
iC4
SC
648
IJ I 672
1
Liabilities
L
antl MunicipaiPosition
29
TOTP
9959
9271
342
459
377
Continuity of Taxes Receivable
fQIG
Taxes rereii
able b
ihnrng
15
x
rLUS
G
t
FLU i
ti225
PLUS
z4
LESS
dotal
LE
Ta
oG
ii
LESS
Tna itu
nlents
u25G
PLUS
rz5G
GG
u
T
xes
ei
9
year
ct
6
8
t
1
Amcunts aided to taxbills for callecticn purposes onhr
Tax alttcurts
evied iillhe
5LG
year
c
r
2G 9
199 r
E
C c
r
rrznt
t
rst
earPenaltiesandlnt
cash
SLC
s
Icctrrr
cc
airent
dlu
t
lie
eEit
c 4u3
4
iJ
i 2 099 u9
Ces
bef i alluwa
out
t55
t
998
tSLC
i 2 28x9
ti t
ilcn
x
xu
03
C 17 4Gi1
09
uo8
G
c
able end of year
recei
e 494
1
6
Cash Coilections
9
V
jtFi3
arrentye
C
trslax
G
fin
Preaicus yearstax
S
Lir
Pen3ltizs and rnlerest
ra
C
wnts riilit6c3
km
h
I
er
Cttl
U594
fu
844
302
68
F
hllls fir ille
t7x
iiort
288
1
331
228
869
tir
t
e
u
ti fniy
P4TRL
Cash
Cottections
483
458
74
O
IfJ
W
O
O
N
Q
N
Q
U
b
Z
0
C
O
N
C
O
a
Minislry of Municipal
Province of Ontario
3
of
Debt burden
2009 11
11
50
Affairs
municipality
ttie
1
n
62
outstanding dekt sued by the mur
icipality predecessor muriicrgalihes nri
To r
tario and aaenciES
To Canada ar
agencres
B
0
To Cthers
Alf
i110
ccf s nlirld
ed
eriities
052
215
1Q
99
ii
9
Qa
SubtotaE
PLUS
AI
dcht aseun
d by the
215A52
1G
uniclp f m atheis
r
iity
EbS PII Pabt rsiiined by ul ors
500
Schocl boards
n
ri
s
i
turrupali
Other
ca0
err1rT7811t BUSInESS
iVL
fI5FS
91T
E11
5ubtolal
a
Ic
S
Li
IPdJ
i
Ontano lean
aterkgEncy fO
fJAi
3
aebt
lrafef
r
y
It
icsa
u
tr
J
rctirCnr nt
rsnd
Subtotal
lWri y
DES t
sinkit fiiuf5 4ctual
General municipal
cesf
bafan
and others
Enterprises
1659
sSubtotal
TOTAL Debt
s91o
burden
a
15052
1I
of the mur3icipality
2 Debt burden of the municipality Anaiysed by debt instnrment
clrl
120
0
i
40
1
raures
Sinking funrJ def
Cnt small debcr
Installn
ture
s
Long term bank Ica
Lease Burch se agreemcni I
ible capital leasesl
r
T
1
tr 1
r
2FU
1ate ncy
4
n
Jntano ileac P
n1
0
ng ternlre
L
e
en
nslniction F
r
i
Other
funii
cing
r
aic
L
ehe
C
tures
5
03 735
10
Jl llu
TOTAL Debt burden of
9920
3 Rebt
1ii5
a1u
677
179
5
q
1
r
burden
of
ie
t
the
municipality
052
215
1x
municipality Analysed by function
I
GsnEialgovcrnnicnt
Frotectian services
artation
7ra
ices
r
e
I errires
wnmeht
En
5
4
Nrsyslem
a
e
rs
Sanit
7
1
crrnsetaersystem
x35
stem
cirts ss
Jatenti
x40
i
aa
daste cbll ion
u
aast
ai
disfiu
1455
es
ir
Sacral slid family sery
14n0
Social hnusin
atrc and catural
r
Re
141i5
i
n
s
FarF
1
14
rea facililies
F
P
icm
4
1a
reatian facilities Other
e
F
s
1a
I
htarina Ski Hill
hlhrarle5
to
Plannug
14x
Qthe
953U
l G
r
ourS
and
ielopmenk
de
long term abilities
880
012
10
Deht burden of the
TOTAL
mtmicipality
j
x52
215
10
4
eht
payable in foreiyn currencies net of sinking fund iiolrlnysy
1
US Dollars
1F1n
lan dallar equ
Cana
alent rncluded
0
ih
Par
value in
U
Other
currency
o
1
rna
C
iian
tE40
Par value in
En
9
altar eauidalent
aJiaii
ta
Par
V iItIE
In
In
dollar
c
in
PLC
i 4 591
C
t inclutJFC ir
aler
riaun
SLC
r
91
x
Gi
115
ncluded
74
9x17
G1 I
S
Dollars
aLC
1iC7
i
5
earned on
erest
sinking
funds and
on
debt
retirement
funds during e
year
I
IF10
funds ntario
n
OJ
Clean later
eVr
0
f 1Rcn
lydaler
6
Details of
t
F gency
1N
fund batance
sinking
210
cf ain sinking hind tieberilures Itist i
hlue
enti
of own
sinking
cutstandiny
atyear end Balance
funds at year end 2110
Tetal
cori ribuhors
to wrn
Tc
n
income gamed cram investmentsofsin
ial
e
funds 21
nking
ftnas manies 2149
ing
2210
rn
Subtotal
Estmated
total future
contritiutior
fro n
s
tF
Estimated
total future
irccme
eamed from
Long
HCiyl
tiii
Unlacaitysupp
Lta
u
af
ihE
TOTAL
term
commitments afyear
end
2cin
nwnicipalih require io meet gt ligatians
is
la line 20 J0 ahc o
invesirnerits
in Ilnes
2999
and
2210 at
7
ove
2
14
G
1
talsuf
rt
21
rt
es
and
G hr r
n ni
t 11n
J
lantl a 1
equipinr t
tal
rnsitci
r
ja
2499
Oy
Province pf Ontario
2009 11
71
14
50
Ministry pF Municipal Affairs
falue
s
C lumn 2
Ir
PdumGar otYears
nrlFntLlaulities
Cnnt
4
dies
CoriGhgentJiabi
8
fiiG
Priingcrtheatereal gaticn
Hsu
tr
r
i3D
uar3r
twF
i
F
a ri
G40
ten
t
3
2
l
Jeb irl tll
tdne
Etd Iris a Ig3n gJa antervi
t
nJ
1
u
auP
i II
lu rlc
c II
luU
i
tl
a
J by ethers
It be as Jr1
c
TOTAL
2599
rr
IIII1II
rL
iIII
I
I II
J
lalldlrlf
IJ
9
Ontario Clean S4ater
2asG
Agency Provincial Projects
CFk
I
autal Oblr
atcn
C icn
1
3
t
3
dev
abtyanly
h4uriicl
thi
Fcr
hart ct
82G
ai 1r
g
mt
d
j5Chs1
ar ts
3
lt
p
for this 4uriiclp3hiy aclp
C
fmtel
n
h
c
Dept
16
1l
tis7
dprnj
Charges for the current year
OYL ffGn
R
Cii
ihv
C
cli
r
tcr
tllr1J
VB7Uc
r
If r
iG14
r
ii
252 I
549
384
382
Receve trolrrre
r
iscvc iluril
h
cd
c
SD
lactnah
niC
G
fit
phGrl
TaL
Siiai
ttl I
f
ao
J
IFaP
L
e
t n
nso
I
u
uC
5
idatt 1 eat L
1
I
i
I
i
70TAL
59
251
549
384
2
3
Line 31199 indludes
377r
F
t
Alialysis
hal
jllm
ll
u
of case Purchase
IIdI
L
LSful
31
rl
l
it
rlr
nrp
F
ym r
p
r
rd
rlJ
k
o
tarry
debl
Ayreerli ffangiple Capita LeasesF and Flnancirig
nts
F1
I1 r9
T
n13
Ill
ilit
1bleL3
Leases
rtot T angible apital Leases
O
Lt tIJt
p
15C
t
II
ul
I FilliJ
r
nJ Iln coil
boti
li
II I
0
TOTAL
3154
LL
Long term deht refinanced
11
t
1
c
h
I
llle 11
d
d
rug
Principal
Interest
1
2
5
5
r
Lnrrlc nq terri
t rhn
ir
9mr1
i
2U09 11
11
50
12
Eulure
principal and
Interest
NG
aytnenfs on EXIST
debt
aF U
iFRdEI
r
ariue Fund
r
of d
trr R
Prinripal
eserae
F
t
terz
Ir
1
32117
Year2009
069
376
699
510
3z2J
Year201fl
440
361
990
493
1
S
3z
Year 2011
166
377
409
476
t
32
Year2012
697
396
911
457
325
Year2013
239
417
449
436
6l
9
Years 2414 to 2618
358
2
863
862
1
857
1
i
Years2019onwards
925
5
618
878414
1
1
i
1r l
i
y1
ia P
r
lmFuvd
nt
rH3ram
Famed
0
J1
FF
u
Unr
Fnrcipal
rasl
Inr
s
4
aa
p
ric
Pr
v
id
tuJ
i
rr
Ei
l IhF
iti
Inlucst
pal
nr
h
J
I
i
li
052
215
10
U
11829
6
1
0
0
Other nofes
e i
a
AI
t ali ef
ti P
C
otrS
an d
furrt8rd Gtrppoiiinq schedules
dnC1
iu
r
p
I
s1
ater
l
p
r
TOTAE
I
c
rm inM Rind
3299
13
Fucd
1 tt
y
o
ire
11
as
red by
requ
aa to
c
FI R mahCeontario ea
it
D
Province of Onlario
Mnistry of Municipal Affairs
112009 11
11
50
I
1
dunicipalworkforce profile
Employees
5
1
of the
Full Tlme Faded
P rf
Timc e9
nr
F
kl illur
orls
Pa
4
hRunicipality
1
D6
71
Fire
OD
34
00
35
DD
18
210
189
D6
2
864
79
fi29
311
Ilice
P
00
122
00
20
00
41
8220
nsit
Tr
OD
39
OD
13
00
29
25
0
Viirks
licY
Puf
00 I
133
00
22
SeNices
231
Heylth
5
geii
r111er
Home
9
z2
Other Sdcial SC
S
NIr
i
i5
Parks and
1
59
Libraries
061
16
2
Plannrng
001
19
1
105
00
I
Recreation
OD
3
o29e
Subtotal
Scrat
732
111
970
294
00
120
OD
27
006
410
OD
51
00
36
fi68
724
06
3
00
2
021
32
00
2
840
35
I
Cher
p
3c
OD
32
Praportign of 6Jlunic trlpC
erEd by CoilECt
cc
ue
Employees of Joint
Boari9s
n5
z
ArllnlnlstratlG
QSiJ
Fire
ocai
OD
1
i
001
575
I
06
8
OD
26d
831
13
00
165
G32
1
711
l
Agreemerris i
Polio
c13
r
Tran5lt
L5
9
iJlE
J
PLIIJIIG
S
7
J
4ntbulehce
11
c
1
Healih SeNi
es
JF
127A0
U
r the Aged
Homes fr
tfier c1
r
i31 S
Ices
n
0345
Parks an
a Rec
eation
I
Q
Ibrarles
L
fl0
13
896
239
Plannrng
b
02
Othc
OcLG
4
E
93
Subtotal
0399
TpTAL
DO
727
2 Selected
il 117
1116
r n
iiivestntents
C
of
ownsinking fundsas
Oiner Munic School
Boards
1
2
00
165
Federal
3
4
I
L
unicipal procurement this yea
h
Totyl rr
truction contracts rr
ardeo
r
ri
1
i
I
ConstiuctioneoniracisnvJal
Value of Contracts
1
I
2
11
IO
1
it
r
at
rgre
t1C0r
688
8857
8
of
Number
Building permit
842
1
fi07
Provincial
111 U1S
il
I
4
896
239
00
0
r
uC
u
atpec 3
I
06
277
Number of Contracts
3
D6
i3
f
y
Municipafi
Owo
informatior
678
8
294
Total Value of
Budding
Building
Permits
Permils
1
2
Square metres of New
Gonslruelion
3
m
0
12
R iential progenies
p
12
fvlult rltial
siJ
R
12 U
all ofner
600 j
863
10
793
15
22
800
792
18
987
34
79
29
655 L
800
780
50
57
I
properties
proFeriy classes
Subtotal
a
12
5 Insured value of
physical
7
assets
h
g
fi0D I
835
194
tl
1a
nl
u
Bl
s
11 u
w1ar inery
and l
yujFinlr n
t her
I
C
i
D0
006
27
i
60D
221841
Subtotal
d
I1
6
0
15
ofHpurs
I
215
5
rJ
t
r
Jl
1
Ajminisiahan
IC
t31 Person H ura
bna rrF oyaes
ie
Total Dollar Cosses
rtue fo
tructuraL Fires
s
Ll
c
clue t
J structural fires ave rl der 3
1
66 2005
2l
yr
507 I
2
170
i
2003 71
11
5D
Province of Ontario Ministry of Municipal Affairs
7
PJtemaEe service delivery arrdnDemen
s
h
ni
e ryli fi ih ipa
mr
n
ily
Fa cer
n
td
P
n
rital
curry
u
d cu
lh
L
ntly F i
nia
fo
4i
F
i
r
f
iJ CU dchvu
t
nltnrri
Functianal
Iii i0 G h
tic
h
k
Q
7
i
p
74
i
FJ6
I
u
i7
i
9hl
ura
ExFand
a
1
11
1GOp
ie
E
sj
iJit
Rey Fund
Headinc
1
@
il
cnd
I
ant
Gcorr
Province of Ontario
Ministry
of
Municipal
Affairs
2009
11
50
11
Province of Ontario
2009 i 1
11
5D
II FULLY COtlSOLIOATfOlncal boards
and any local erihhes se14
r
by the municrpality
TutJ
Fratirtoli cr
Bra d
tJ brie o
C
rd
or
En r1
tlty
C
rnFhon
D
lu
Mc
1r
i
l
l
irl
d
Itl
l
i
s4w
I
Ilt
s Sha
e if
hltrv p Ilti
al nnMhutinis
Tn
re of
cs
l Fee Fecances
Tol
IJ
9
l
aerJ
2
3
1
4
I ilnl nins
Public Library Board
The Timmins Economic Development
r
Ls
The Board of
Management of the
Corporation
Library Board
1604
r
UQ
Olher
9001
I
1805
u
Downtown Timmins Bus Business
Improvement Area
C X54
The Timmins Gold Mine and Museum
Museum
CE55
Timmins
Airport Commission
Airport
6
i
r
LIST
o
i
F
i
I
u
IJ
fi05
r
06R4
i07So
Sr
L
1r15Y
57
C
1i1
C 5E
i
I
5
10
100
Ct5A
SCuoO
i
10f
a1
G
3
101
1
100
2
UE
s
0
100
53
r
54
ft
C
0
lOC
5
fi
ri
100
Ooc6
7004
57
1
a
10a
0
U9
10
O
uE
6
10D
1570
700
1
1571
100
i77
100
n573
100
n974
100
ty
a
r
is
C
i
1aD
nil
1757ri
I
11977
100
100
I
7o
r1
100
u97J
100
119i n
100
1
i15i
100
0982
100
1a
100
uses
100
Q
i
1DO
p
s
y
I
I
7
1G
I
8
u
I
c
Jf
I
I
jNO
100
i
100
1
100
j
100
dI
Jt
100
JlrJ4
k
i00
Jc l
100
100
j
au
a
it
100
9
9r
i
100
a
L
100
4
Households and Population
is
Hnusehol
G11
Poprdation f From SL
cr
n fFrgmSLG02004261
pulat
YovthF
J2 J
i41
Data
iCipa
s4ur
1
L
19146
i
11
SL4 92 094fl L
CG1
jFiam
fFAC
P
Data
9
f
997
42
r
11A1Q
Property Assessment
1
S
3t
Cr
e 5LC
Taxat
nt 22 9299 D7J
m
s
as5
14 r
6
2
A115
9
299 r37
03
C
Lien AaessmEnt SLC
n
nyrrrFats
Cui
ssmnnton Exempt
As
ropertes tEnter
ata
from returned
27 329
U31
2
730
40J
1
Hectares
Totat hectares
325
roll
TOTAL Property Assessment
C9nt
L
Lt
24
in
the mun ipality
I
1
7
i
I
m
s
I
p
o
m
I
V
m
e
I
m
m
rv
a
m
m
f
M
f
sw
1
m
m
E
N
N
I
i
f
V
i
r
v
o
z
w
o
m
k
o
c
Y
5
O
o
S
a
W
r
y
o
V
3
ro
a
a
w
it
i
rv
m
M
y
1
m
u
7
1
1
y
m
i
Y
1
N
N
cn
H
F
q
fA
W
a
W
i
u
N
Vy
H
m
L
fi
i
E
r
3
E
L
r
4
E
v
e
y
4
o
a
i
t
J
t
t
9
T
L
z
4
K
1
J
j
o
c
a
N
m
i
N
I
j
Q1
zr
0
a
o
e
a
I
0
r
rn
0
0
N
r
r
0
c
O
o
m
U
C
O
a
0
T
N
T
4
0
U
C
3
O
O
O
a
c
0
a
J
w
E
m
1
I
G
a
u
I
E
j
I
ti
T
1
S
y
0
4
O
1
a
r
t
y
i
CJ
ll
L
L
T
r
u
J
Y
y
Y
Q
r
J
1
i
p
t
LQ
may
o
O
c
o
r
o
U
0
E
l
Q
V
o
I
m
i
v
o
E
o
m
E
C9
M
d
C
Q
E
m
0
f
O
p
O
O
O
o
p
F
C
O
4
did
m
o
u
U
N
m
o
E
M
L
o
m
d
Q
Q
Q
Q
c
r
U
o
1
Q
O
d U
O
N
y
d
N
C
F
F
O
t
p
p
d
F
N
J
1
y
N
u7
m
a
N
i
I
h
V
in
M
O
tL
i
O
a
7
U
r
a
rn
J
r
c
r
O
L
U
E
E
O
O
m
J
ILr
d
j
y
U
i
JI
i
c
Q
c
VJ
a
a
i
y
O
v
U
S
J
i
n
I
r
i
a
a
o
i
M
T
a
a
r
LL
o
i
L
n
a
p
Y
1
O
O
x
a
LC
o
ci
a
G
IaUi
Q
6
m
O
E
o
C
N
M
I
o
4J
C
d
O
E
moo
n
H
C
n
p
c
I
I
I
I
1
r
u
j
A
I
a
o
i
LL I
n
I
R
u
J
r
o
m
r
L
rn
u4i
co
c
yr
I
U
I
1
r
y
S
1I
I
tI
t
E
o
Q
w
P
M
E
o
S9
o
F
S4
F
U
Y
j
c
U
o
L
S
G2
E
er
o
i
U
o
7
r
E
a
N
rn
0
1
E
E
o
o
ti
a
1
a
o
W
m
a
c
o
C
o
l
t
i
r
N
N
Q
J
R
3
U
LV
7
Y
r
S
v
J
5
J
V
Y
m
i
i
I
n
1
1
N
O
y
i
2
i
li
1
L
y
S
u
i
v
T
11
LL
9
a
5
s
I
O
1
1
y
y
O
o
1
J
1D
T
y
hti
T
a
1
Y
W
Y
H
LL
LJJ
P
v
L
o
L
u
O
O
cT
Ito
C
y
N
N
N
O
M
C
C
C
N
w
N
N
0
0
r
c
o
ai
aN
o
o
U
E
O
v
p
U
Na
m
C7
m
mm
c
m
o
m
v
o
i
rn
rnd
m
U
v
Q
o
o
E
o
m
m
b
O
O
cam
v
m
CV
t6
a 0
J
C
v
I
I
LL
z
I
I
it
n
c
C
C
c
c
11
O
d
E
c
C
b
C
L
J
C
N
a
N
W
0
Q
C7
Q
J
b
3
d
m
V
1
a
a
a
1
U
C
C
m
rn
J
n
7
m
J
J
ti
C
ll
i
v
J
W
N
w
n
b
r
H
a
a
o
O
r
L
U
I
C
v
G
w
m
D
b
L
L
L
L
G
1
o
d
w
o
O
n
U
J
d
n
G
O
ni
a
n
1
ai
i
Ci
0
Z
Q
J
ifJ
G
i
1
is
N
o
N
VJ
6
N
T
r
E
N
m
L
m
m
n
n
T
E
i
m
2
ry
y
i
i
n
m
u
i
i
I
i
m
m
N
j
I
r
ai
w
I
E
m
n
G
N
E
i
n
E
r
c
m
m
r
ao
00
cV
D
n
m
t
m
6
m
m
o
m
L
m
c
v
H t6
m
c
a
t4
N
c
m
o
d
N
t
O
I
I
Y
m
s
i
y
a
a
a
a
T
u
y
J
4
y
9 E
v
v
E
y
c
a
m
N
2
J
m
Q
Y
y
n
c
lfj
o
u
V7
r
m
0
U
d
0
c
0
a
r
s
I
i
I
F
1
F
I
9
tl
P
J
6
1
G
j
1
3
H
1
N
ti
a
t
1
l
61
L
t6
G
1
I
G1
uT
3
I
rn
rn
o
t
t
I
c
y
L
t
r
E
i
I
s
I
L
r
Ci
tdi
0
v
ti
N
p
Ci
N
Lt
CJ
fl
ll
F
y
c
yi
m
is
rn
i
r
j
4
y
U
L
c
ri
cT
C
I
C
7
11
C
iii
c
0
4
V
ti
t7
C
L
O
y
rJ
1
y
C
z
t
j
L
f
Q
U
C
E
N
1
C
lU
j
t
X11
J
E
CJ
n
u
n
rl
1
o
l
rJ
U
fem
S
1
d
lu
L
W
1
ti
1
Tl
G
TJ
mil
V
U
c
y
Y
C
1
TJ
LL
rn
ate
a
ai
rn
r
a
li
y
fi
m
O
o
c
i
A
1
rn
ia
N
G
u
v
t i
n
L
E
r
cn U
t
C
2
L
m
r
p
m
Z
Cn
r
r
ti r
O l
N
LL
U
i
n
i
N
li
u
N
E
y
Vi
y
we
c
U
O
G
G
ill
i1
CJ
C
7
t
O
ri
U
F
c
C
Li
is
s
f
G
v
o
n
J
C
U
cra
C
1
j
l
r
y
N
0
r
rn
0
0
T
T
r
t
j
I
J
1
L
I
1
j
i
l
tl
I
j
t
4
r
u
o
a
m
m
a
a
1
uj
o
1
m
o
r
v
u
ai
is
i
r
O
C
C
N
ti
N
Q
q
r
p
p
a
N
cn
o
1
7
W
G
N
C
a
N
N
m
iJ
V
ti
q
n
C
Q
P
fll
U
N
r
r
U
ro
41
41
v
i
L
a
N
r
a
T
W
U
ry
R
O
S3
y
U
N
O
J
L1
c
1
c
O
N
m
i
a
O
Z
mo
o
in
r
rll
a
r9
C
iTJ
Q
N
U
4
O
ti
O
N
N
y
N
V1
C
L
n
N
N
O
1
r
L
Vi
C
1
r3
4
l
y
r
n
J
O
V
O
a
rt

2008 Financial Statements

Transcription

Similar documents

Annual Childrens` Christmas Party- Dec

GOLDEN MILE PROPERTY

forgive me...june pass sale

The Timmins Daily Press

Clavos Deposit - Investor Cubed

Scottish Immigrant Kenneth Richmond Coupar Appleby

Eloxite Corporation

Community Profile Timmins • Ontario • Canada