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CORPORATION OF THETOWNSHIP OF TINY

COUNTY OF SIMCOE

CONSOLIDATED FINANCIAL REPORT

DECEMBER 31, 2018

THE CORPORATION OF THE TOWNSHIP OF TINY

DECEMBER 31, 2018

CONTENTS

Managements Responsibilit for the Consolidated Financial Report

Independent Auditor’s Report 2

Consolidated Statement of Financial Position 1

Consolidated Statement of Operations 5

Consolidated Statement of Change in Net Financial Assets 6

Consolidated Statement of Cash Floxx 7

Notes to the C onsol idated Financial Statements $

Schedule 1 Consolidated Schedule of] angible Capital Assets 1 8

Schedule 2 Consolidated Schedule of Segmented Revenues and bxpenses 201 8 19

Schedule ( onsolidated Schedule of Segmented Revenues and Expenses 201 7 20


MANAGEMENT’S RESPONSIBILITY FOR THE CONSOLIDATEI) FINANCIAL REPORT

The accompanying consolidated financial statements of The Corporation of the Township of Tiny (“theMunicipality) are the responsibility of the Municipality’s management and ha\ e been prepared in accordancewith Canadian public sector accounting standards established by the Public Sector Accounting Board of theChartered Professional Accountants of Canada, as described in Note to the consolidated financial statements.

The preparation of consolidated financial statements necessarily involves the use of estimates based onmanagement’s judgment, particularly when transactions affecting the current accounting period cannot befinalized with certainty until future periods.

The Municipality’s management maintains a system of internal controls designed to provide reasonableassurance that assets are safeguarded. transactions are properly authorized and recorded, and reliable financialinformation is available on a timely basis for preparation of the consolidated financial statements. Thesesystems are monitored and evaluated by management. Council meets v ith management and the external auditorto review the consolidated financial statements and discuss any significant financial reporting or internalcontrol matters prior to their approval.

The consolidated financial statements have been audited by Baker Tilly SGB LLP. independent external auditorappointed by the Municipality 1 he accompanying Independent Auditor’s Report outlines their responsibilities,the scope of their examination and their opinion on the Municipality’s consolidated financial statements.

Chief Administrative Officer I ieasui erSeptember 30. 2019 September30 2019

bakertiDy

INDEPENI) ENT A UD [FOR’S RE PORT

To the Members of Council, Inhabitants and Ratepayers of the The Corporation of the Township of Tiny:

Opinion

We have audited the consolidated financial statements of The Corporation of the Township of Tiny (11theMunicipality’), which comprise the consolidated statement of financial position as at December 3 1, 2018, andthe consolidated statements of operations, change in net financial assets and cash flow for the year then ended,and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, theconsolidated financial position of the Municipality as at December 31. 2018, and its consolidated results ofoperations and cash flows for the year then ended in accordance with Canadian public sector accountingstandards.

Basis for Opinion

We conducted our audit in accordance with Canadian generally accepted auditing standards, Ourresponsibilities under those standards are further described in the Audiioi-’s’ Responsibilities/or the Audil of/heConsolidated Financial Statements section of our report. We are independent of the Municipality in accordancewith the ethical requirements that are relevant to our audit of the consolidated financial statements in Canada,and we have fulfilled our other ethical responsibilities in accordance ith these requirements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of Management and Those Charged with Governance for the Consolidated FinancialStatements

Management is responsible bar the preparation and fir presentation of these consolidated financial statementsin accordance vith Canadian public sector accounting standards, and frw such internal control as manaementdetermines a necessary to enable the preparation of 1inancal statements that are free from material

misstatement. hether due to fraud or

n prepnrme the consolidated tulane a! ;1alenents. niantwmnent reNponsbfe tor assessin the Mnmcipnl itvs

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ihese c-antee- tb rO’\ ernnice ricresnonsifrc on ersecinn the \lunici nUts s tiniuicin!, Ieporfine prece ss.

Baker Tiily SCEI aLP trading as Baker Till9- is a member of Baker Tidy Canada Coooemr.Lae. whici is amemoer ot the aaron / net work of BeE en filly international Limited. All members of Bnkei Tfii’./ CanadaC em ar n i do ii L rr mm smg d I Ic m im ‘em

• bakertiftyAuditor’s Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as awhole are free from material misstatement. whether due to fraud or error. and to issue an auditor’s report thatincludes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an auditconducted in accordance with Canadian generally accepted auditing standards will always detect a materialmisstatement vhen it exists. Misstatements can arise from fraud or error and are considered material if,individually or in the aggregate, they could reasonably be expected to influence the economic decisions of userstaken on the basis of these financial statements.

As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professionaljudgment and maintain professional skepticism throughout the audit We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whetherdue to fraud or error, design and perform audit procedures responsive to those risks, and obtain auditevidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting amaterial misstatement resulting from fraud is higher than for one resulting from error, as fraud mayinvolve collusion. forgery. intentional omissions. misrepresentations. or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures thatare appropriate in the circumstances, but not for the purpose of expressing an opinion on theeffectiveness of the Municipalitys internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accountingestimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and,based on the audit evidence obtained, whether a material uncertainty exists related to events orconditions that may cast significant doubt on the Municipality’s ability to continue as a going concern.If we concludc that a material uncertainty exists, we are required to draw attention in our auditor’sreport to the related disclosures in the consolidated financial statements or, if such disclosures areinadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor’s report. However, future events or conditions may cause the Municipality to ceaseto continue as a going concern.

• Evaluate the overall presentation, structure and content of the consolidated financial statements,including the disclosures, and whether the consolidated financial statements represent the underlyingtransactions and events in a manner that achieves thir presentation.

We communicate with those charged with governance regarding, among other matters. the planned scope andtiming of the audit and significant audit findings, including any significant deficiencies in internal control thate identifS during our audit.

&&7ø S4Licensed Public AccountantsCollimzwood. OntarioSeptember 30. 2019

3


CONSOLII)ATED STATEMENT OF FINANCIAL POSITIONAS AT DECEMBER31

2018 2017

S $

Financial assets(ash and cash equivalents (Note 2) 8,963,833 9.274. 1 88Taxes receivable 2,227,635 2.437.385Trade and other receivables 718,470 L21 L854Long-term receivables (Note 3) 61,636 70.740

11,971,574 12,994.167

LiabilitiesAccounts payable and accruals 3,911,278 1,571,074Construction deposits 1,235,273 1,342,0 1 2Deferred revenue - obligatory reserve funds (Note 4) 2,021,539 1,855,552Long-term liabilities (Note 7) 28,393 34,779

7,196,488 4,803.41 7

Net financial assets 4,775,086 8.190.750

Non-financial assetsTangible capital assets - net (Schedule 1 and Note 6) 65,722,999 63.727.980Prepaid expenses and inventories of supplies 358,936 349.280

66,081,935 64.077.260

Accumulated surplus (Note 9) 70,857,021 72,268.0 10

A ppro ed May or


CONSOLIDATED STATEMENT OF OPERATIONSFOR THE YEAR ENDED DECEMBER 31

Budget Actual Actual2018 2018 2017

S S S(NoteS)

RevenuesNet municipal taxation (Note 10) 10,624,705 10,877,859 10.072.078User charges 3,727,388 4,136,561 4,323.748Government grants 3,118,420 1,953,815 1,900.580Investment 66,315 103,163 80,579Other(Note 13) 21,536 327,364 107,798

17,558,364 17,398,762 l6,484,783Expenses

General government 2,616,540 2,720,312 2,259.852Protection services 5,743,795 5,469,599 4.670,099Transportation serices 6.868.317 5,713,092 6.211.602Environmental and water services 5.1 30.0 12 2,105,108 2.046.569Recreational and cultural services 2.582.143 2,463,854 2.220.865Planning and development 505.766 500,723 456.760Health services 30.000 30,000 41 .500

23.476.573 19,002,688 1 7.907.247

Net expenses (5.918.209) (1,603,926) ( 1.422.464)

OtherGrants and transfers related to capital

Government grants 606,000 312,098 725.21 1Contributions from obligatory reserve funds 700,026 738,829 93. 1 46Gain (loss) on ciisposal of tangible capital assets 5,000 (857,990) 17.400

1 311 026 192,937 835.757

nnuaI deheit 6) 8 (1.410 989 86 07)

\ phhcnonn 2,268,(1

ccumuIated surplus. cud ot veam L U 0,857M2 1 ‘2.68 U I U


CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETSFOR THE YEAR ENDED DECEMBER 31

2018 2017

S S

Annual delicit (1,410,989) (586.707)

Acquisition of tangible capital assets (6,629,681) (3.458245)Amortization of tangible capital assets 3,745,572 3.922.877Loss gain) on disposal of tangible capital assets 857,990 (17.400)Proceeds on disposal of tangible capital assets 31,100 17400Change in prepaid expenses and inventories ol

supplies (9,656) ( 19. 97)

Change in net financial assets (3,415,664) (141.272)

Net financial assets. beginning ofvear 8,190,750 8.332.022

Net financial assets, end of year 4,775,086 8.190.750


CONSOLIDATED STATEMENT OF CASH FLOWFOR THE YEAR ENDED I)ECEMBER 31

2018 2017

S $

Cash flows from (for):

Operating activitiesAnnual deficit (1,410,989) (586.707)Non-cash items:

Amortization of tangible capital assets 3,745,572 3.922.877Loss (gain) on disposal of tangible capital assets 857,990 (1 7.400)

3,192,573 3.3 18.770Changes in:

Taxes receiable 209,750 (78.37 1)Trade and other receivables 493,384 (596.691)Long-term receivables 9,104 19.092Prepaid expenses and inventories of sLippl ies (9,656) ( 19.197)Accounts payable and accruals 2,340,204 (896,742)Construction deposits (106.734) (46.3 12)

6,128,625 1.700,549

Capital activities

Acquisition of tangible capital assets (6,629,681) (3,458,245)capital assets 31,100 17,400

Net change in cash from capital (6,598,581) (3,440,845)

Financing activitiesChange in long-term liabilities (6,386) 31,894Change in deferred revenue-ohl igatorv ieservc ftinds 165,987 762,151

Net hange ash ti iv 1S9,601 794051

et ha igc i cash [ i ) i 1( 55) 5

d iiniigof. e 9.27 .188

Iictuilcnts,cud ear 8,963,833 92 88


NOTES TO THE CONSOLII)ATED FINANCIAL STATEMENTSAS AT L)ECEMBER 31, 2018

Nature of operations

The Corporation of the I ownship of Tiny (“the Municipality”) is a Iowertier municipality located in theCounty of Simcoe, Province of Ontario, Canada. It conducts its operations guided by the provisions ofprovincial statutes, such as the Municipal Act. Municipal Affairs Act and related legislation. TheMunicipality pro ides municipal ser ices such as police (OPP contract), fIre, public works. planning, parks,recreation and culture and other general government services.

I. Summary of significant accounting policies

The consolidated financial statements of the Municipality are prepared by management in accordance withCanadian public sector accounting standards for local governments as recommended by the Public SectorAccounting Board (‘PSAB) of the Chartered Professional Accountants of Canada.

The focus of PSAB financial statements is on the financial position of the Municipality and the changesthereto, The consolidated statement of financial position includes all of the assets and liabilities of theMunicipality. Financial assets arc those assets which could provide resources to discharge existingliabilities or finance future operations Accumulated surplus represents the financial position and is thedifference between assets and liabilities. This provides information about the Municipality’s overall futurerevenue requirements and its ability to finance activities and meet its obligations. Significant aspects of theaccounting policies adopted by the Municipality are as follows:

(a) Basis of consolidation

These consolidated financial statements reflect the assets, liabilities, revenues and expenses of theMunicipality. They include the acti ities of government departments, funds, municipal organi/ations.committees of Council and I3oai ds hich arc owned or controlled by the Municipality.

The fol lowing entities has e been proportionately consolidated (See Note 1 3):

Fluronia Au port ( niiii issionSevei n Sound Ens ii onmental Association I 7%

\lI ntcrfu d isscts md I ibilities mud s ui s of finan ing ‘md expenses base been clii i at d

m mdcms C

iti I I


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSAS AT DECEMBER 31, 2018

1. Summary of significant accounting policies (continued)

(e) \on-tinancial assets

\on—tinancial assets are not available to discharge existing liabilities and are held for use in thepro ision of sen ices. They hae useful lives extending beyond the current year and are not intendedbr sale in the ordinary course of operations. The change in non-financial assets during the year.together v ith the annual deficit, provides the consolidated change in net financial assets for the ear.

(i) Tangible capital assets

Tangible capital assets are recorded at cost less accumulated amortization. Cost includes all costsdirectly attributable to acquisition or construction of the tangible capital assets includingtransportation costs. installation costs, design and engineering fees. legal fees and site preparationcosts. Amortization is recorded on a straight-line basis over the estimated life of the tangiblecapital assets as follows:

Land impros ements - 10 to 30 yearsBuildings - 10 to 40 yearsInformation technolog\ — 4 to 5 yearsEquipment — I to 75) earsInfrastructure

- 5 to 100 yearsVehicles

- 7 to 2U years

One half of the annual amortization is charged in the year of acquisition and in the year ofdisposal. \Vork in progress is not amortized until the asset is as ailable tbr productis e use.

(ii) Intangi He assets

Intangible assets and items mherited by right of the Crown such as Crown lands, forests, ss aterand mineral resources, are not recognized as assets in the financial statements,

(iii) Insentories

Ii C t( lies eoi sist f f id nd u d gras and re ‘d d t the In )st ai d net calizahlc ( ost is de e in d (I lea erage en t ha

\1 ip iits ollaets i 1 leC[U on hehalfof I’anR and thL ( ii I Siinc. I tie:ii Hnes, aNet ant 1dbill’e ‘;1i respe a’ 1lL -‘ i Ifl Sal ni

dad I nt 0 are not letleLiLd a lnnaial itenielt’

lie \1ni,ipaliI ot teis a pension pian tr its tail-time empin\ees tIn cugh the ( mIa \linicopaI

I np Retirc,nc,m S\ien ‘O\li RS” U\l1 RS js a :1luIti-elnph\er. coitrihutors piihhr sec,ttrI ‘. it c, P \L’ t I ‘., ‘ I I ‘ c, “ u 1

ad a’ cIa , . c, , , - :— a


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSAS AT I)ECEMBER 31, 2018


(Ii) I)eferred revenue

Revenue restricted by legislation, regulation. or agreement and not available for general municipalpurposes is reported as deterred revenue on the consolidated statement of financial position. Buildingpermit revenue is recognized v hen billed and all other deferred revenue is reported on the consolidatedstatenient of operations in the year in hich it is used for the specified purpose.

(i) Taxation and related revenues

Municipal tax billings are prepared b the Municipality based on assessment rolls issued by theMunicipal Propei’tx Assessment Corporation. Tax rates are established annually by the MunicipalCouncil, incorporating amounts to he raised for local services. A normal part of the assessment processis the issue of supplementary assessment rolls, which pros ide updated information with respect tochanges in property assessment. Once a supplementary assessment roll is received, the Municipalitydetermines the taxes applicable and renders supplementary tax billings. Taxation revenues are recordedat the time tax billings are issued.

Assessments and the related municipal taxes are subject to appeal. Taxes are recorded at estimatedamounts when they meet the definition of an asset. hae been authorized and the taxable event occurs.For municipal taxes, the taxable eent is the period for hich the tax is levied. Faxes receivable arereognized net of alloxance for anticipcited uncoliLc1ibl amounts.

The Municipality is entitled to collect interest and penalties on oerdue taxes. These reenues arerecorded in the period the interest and penalties are le ied.

(j) Government transfers

Government transfers (refirred to as go ernment grants’ in these consolidated financial statements)are recognized in the consolidated financial statements as revenues in the period in which the eventsgi\ ing rise to the transfer occur, pros iding thc transfers arc authorized, any eligihilit criteria has e beenmet and reasonable estimates of the amounts can he made. Conditional government grants arerecognized to the extent the conditions imposed on them have been tulfilled. L nconditionala vcrnment giants c ccogni!Lc sI L a cs are r isahic (os L n iic ants lot a ir isit C of

Fe capital sc i c rcLocni/L c perk)d in cibiL e\pc c ate madL r U . tcr‘ ‘ ‘\ sC I a aalt\ If’lsLI \LHiC

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(I) Use of estimates

The preparation of financial statements in conformity with Canadian generally accepted accountingprinciples requires management to make estimates and assumptions that affect the reported amounts ofassets and liabilities and disclosure of contingent assets and liabilities at the date of the financialstatements and the reported amounts of revenues and expenses during the period. Significant estimateshave been made of historical cost and useful lives of tangible capital assets. Actual results could differfrom those estimates.

2. Cash and cash equivalents

Cash and cash equivalents consists of the fillo\\ ing:

2018 2017

S $

Unrestricted 3,525,855 I .547,047Internilly restricted reserve funds 2,181,161 1.529,577Externally restricted - obligatory reserve funds 2,021,539 .855,552Externally restricted - construction deposits 1,235,278 1.342.012

8,963,833 9,271.188

At December 31. 2018. the \1unicipalit had an undrawn. unsecured credit capacit of $ I .500.00() v ithinterest at prime rate less 0.75° o (201 7 - undrawn credit capacity $1.500.000 with interest at prime rate less0 75°o)

Internally restricted cash relatcs to resers e funds set aside for specific purposes by C ouncil (Note 9.

F \te mliv restrictc c i h - obi t v eser\ e f i ds elate he cmiou t f remainu e I d t hL Sf CA

tivm Ldcrdl e.r dec pncr’t jaic ltiidin CUJL \et, titi Iwe iw: .mcl p:irkt 4;

3. Long—term rcceivah1c’.

I ii eLesd[ onii I lolir \ .

stem wins 61.636

THE CORPORATION OF THE TOWNSHiP OF TINY


4. Deferred revenue obligatory reserve funds

A requirement of the public sector accounting principles of the Chartered Professional Accountants ofCanada is that obligator resers e funds be reported as deferred re enue. This requirement is in place aslegislation restricts hov these funds may be used and under certain circumstances these funds may berefunded.

The net change during the year is as follows:

Federal Development Building InfrastructureGas Tax Charges Code Act Programs ParLland 2018 2017

S $ S S S S S

Deferred revenue,beginning of\ear 275.286 411597 1.016.086 24,978 127.605 1.855.552 .093.394

Restricted funds recei\edduring the car 357.750 271.426 304.937 12,248 - 946,361 1.165.006Interest earned 8.517 10.468 16,828 - 2.273 38,086 13,840Transfer to revenues (401,944) (344,700) (12,039) - (59,777) (818,460) (416,688)

Deferred revenue.end ofyeai 239,609 348,791 1,325,812 37.226 /0,101 2,021,539 .$aa.aa2

Federal gas tax

ihe municipal funding agreement ith theMunicipalit) to transfer unspent gas tax fundingreserve fund must be spent on approved projects

De elopmenl charges

Association of Municipalities of Ontario requires theinto a reserve fund I he funding and interest earned in the

Certain usei charges and fees are collected for v Inch the i elated cxpcnditures has c set to he spent onmu asti ucture f til thc fuiidina Ii’ss been pent n intl a tin tui e 1 has i been em ii in theref c I asbee Ic (erred

aa’orc pra.a ‘Pa

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-a- b rai’ . a; frjia-tprc t p. hca can : id ilk IL a tILL

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NOTES TO THE CONSOliDATED FINANCIAL STATEMENTSAS AT I)ECEMBFR 31, 2018

5. Budget amounts

I he operating budget approved b Council for 2018 is reflected on the consolidated statement of operations.The budgets established For investment in tangible capital assets are on a project oriented basis, the costs ofwhich may be carried out over one or more years and, therefore, may not be comparable with the current‘,ear’s actual amounts. The budget figures have not been audited.

6. Tangible capital assets

Schedule I provides intbrmation on the tangible capital assets of the Municipality by major asset class, aswell as For accumulated amortization of the assets controlled. The reader should he aare of the followinginFormation relating to tangible capital assets:

(a) Work in progress

Work in progress with a value of $4,310,730 (2017- $783,044) has not been amortized. Amortizationof these assets will commence hen the asset is put into ser ice.

(h) Contributed tangible capital assets

Contributed capital assets ha•e been recognized at tiir market value at the date of contribution. Thevalue of contributed assets received during the year is $NIL (2017 - $NIL).

(c) Works of art and historical treasures

No works of arts nor historical treasures arc held b\ the Municipalit

7. Eong-term liabilities

(a) Long—term liabilities consist of the follo lug:

201X 2017

S $

I tal long-tcrm liahiliocs inunrcd b t! c \iuucp lht\ijiti inc th e nc ti r n i itit ci hi c tic

c S nnninai rcwiz itinis 28,3Q3 54 )


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

AS .T DECEMBER 31, 2018

8. Pension agreements

The emplo\ees of the Municipalit’ participate in the Ontario Municipal Employees Retirement Savings Plan(OMERS”). Although the plan has a defined retirement benefit fbr employees, the related obligation of theMunicipality cannot be identified. Fhe Municipality has applied defined contribution plan accounting as ithas insufficient information to appl defined benefit plan accounting. The OMERS plan has severalunrelated participating municipalities and costs are not specifically attributed to each participant. Theamount contributed to OMERS fbr 201 8 vas 5437.585 (2017

-5373.935) for current service on behalf of 68

(2017- 60) members of its staff.

OMERS is a fnulti—enlplox er plan. therefore any pension plan surpluses or deficits are the joint

responsibilit of Ontario municipal organizations and their employees. The most recent actuarial valuationof the Plan v as conducted at December I . 20 I 8.

9. Accumulated surplus

The accumulated surplus consists of individual fund surplus and reserves and reserve funds as follows:

2018 2017S $

S u rp Ins:Invested in tangible capital assets 65,722,999 63.727.980Unrestricted (deficit) surplus (445,267) 225.159

Total surplus 65,277,732 63.953. 139Resenes set asdc for specific purpocs h\ Councd 3,398,128 3,785.294

(Note 2) 2,181,161 4.529.577

Total accumulated surplus 70,857,021 72,268,01 0

10. Net municipal taxation

Net ii mpal ta\at 0 s

J)I9

S

. 28,1 1’,425‘ ; md H !t, 6,6Q6,259\ . .i .. iO,5430Th I 3.



11. Segmented information

The \Iunicipalit\ is a di\ ersified municipal government institution that provides a s ide range of services toits cititens such as police (OPP contract). fire, recreation and library sers ices as vell as road, water andsewer infrastructure. Distinguishable functional segments have been separately disclosed in the segmentedinfurmation. Res enues that are directly related to the costs of the function have been attributed to eachsegment. Net municipal taxation revenue is allocated to each segment based on the prorated total budgetexpenses for each department.

lhe nature of the segments and the activities they encompass are as follows.

(a) General Government

General gos eriunent is the gos ernance of the Municipality It is comprised of CounciL corporatehealth and safety, human resources and general administration.

h) Protection Services

Protection services consists of fire and police (OPP contract) services as xsell as community safetyactis ities, animal control, bylass enforcement and building inspection. I hese services provide safetyand protection to the community

(c) I rancportation Services

transportation services is comprised of revenues and expenses related to the various forms oftransportation available to the Municipality. Transportation Sers ices include activities relating tomaintaining roads. transit services, parking. streetlights, contributions to the local airport andaro’ harbour acts ities

(d) Ens ronmental and Water Services

F us ironmental and water services consist of the provision f the Municipal itys drinking waters stein ai d Severn S md E ivmronrncnhl Ass wiati n

IL) 1_ituri) rsiL

a in.i) an4 .Ii. a a) f.

r.. . a.’ s ii’ ndI Iu’.c cr’ Cs aic tai tC IuItIi ira on ireda 1

eItI1



12, Government partnerships

The following summarizes the financial position and operations of the joint municipal service boards. TheCorporation of the Township of Tinys pro-rata share of these amounts have been reported in the financialstatements using the proportionate consolidation method at the proportionate share disclosed in Note 1 (a).Ihe figures provided for SSEA are From 201 7 financial statements as 201 8 figures were not available at thetime these consolidated financial statements ere completed. The figures for 1-IAC are from the 201 8financial statements.

Severn Sound En ironmental Huronia Airport CommissionAssociation

(SSEA) (1-IAC)

S $Financial assets 145.089 110,405Liabilities 169.268 164,550Net financial assets (debt) (24,1 79) (54.145)Non-financial assets 33,602 1,078,566Accumulated surplus 9.423 1,024,42 1

invested in tangible capital assets 27,812 937,710Unrestricted surplus (deficit) ( 18.389) 19.280Reserve funds

- 67.43 I9.423 1.024.421

Re\enues 856.247 338.539Expenses 85i.25 376.035Annual surplus (deficit) 4.990 (3 7.496)

13 Other revenues

Other revenues consists of the following:

2018 N)

S;Tin trnm hitr -e’e iL- 9.631 Z

Sitnpi n & iiriiee t’ er 32J)6[)n’ltj iis. rents. NaI i pt 1coins 215.665 74,78 I

32.364

THE CORPORATION OF TUE TOWNSHIP OF TINY

NOTES TO THE CONSOLiDATED FINANCIAL STATEMENTSAS AT DECEMBER 31, 2018

14. Contingencies

(a) In the ordinary course of business. various claims and lawsuits are brought against the \IunicipalitNo pro ision has been made far pending expropriations of land beyond the payments already made toaffected property ov ners. Any payment made by the Municipality pursuant to claims, lawsuits orexpropriations will be charged in the year of settlement.

(b) The Municipality is potentially liable for certain future benelits costs related to the period of timeduring which it was a Schedule 2 employer fbr purposes of Workplace Safety’ and Insurance Board(W SIR).

15. Comparative figures

Certain comparative tigures in Note 9 have been reclassifled to conform to the current \ears financialstatement presentation.

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2017

Land

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Total

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SS

SS

$S

SS

SS

Cost

Balance.

beginningofe

ar

12.171.1

133.399.736

4.972.166739.542

2.203.009107

.93

5.

1558.428.141

783.044140,931,906

137.5

46.3

36

Additions

-283.707

323.712

53.704154.9

151.6

05.6

1I

680.346

3.724.8856,826,880

4.617.7

29

Disposals

--

-(169.817)

(1.5

84.5

05)

-(1

97,1

99)

(1,951,521)(1

,23

2,1

59

)

Balance,

endoI’year

12,471,1133,683,443

5,295,878793,246

2,188,107107.956.261

—9.108.487

4,310,730

145,807,26514

0,9

31

.90

6

Accu

mulated

amo

rtization

Balance,

beginningof

year1,189,953

3,101,255643,791

1,235,32965,703.021

,030,5

77

77,203,92673,3

53,7

25

Am

oilization-

86,694167,904

52,843348.480

251

1.471578.180

-3,745,572

3,9

22

,87

7D

isposals-

(78

,54

l)(7

86.6

91)

(865,232)(7

2,6

76)

Balance.

endofv

ear-

1.576.6473.269.159

696.6341.505.268

67

.12

7.8

01

5.608.757-

80,084,26677.2

03.9

26

Net

hook\alu

e.end

ofe

ar

12.171.1132.106,796

2.026,71996.612

682.8394

0.5

28.4

60

3.499.7304.3

10,7

30

65,722,9996

3.7

27

.98

0

TH

EC

OR

PO

RA

TIO

NO

FT

HE

TO

WN

SH

IPO

FT

INY

SC

HE

DU

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2C

ON

SO

LID

AT

E!)

SC

HE

I)UL

EO

FS

EG

ME

NT

ED

RE

VE

NU

ES

AN

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XP

EN

SE

SF

OR

TH

EY

EA

RE

ND

ED

DE

CE

MB

ER

31,2018

En

ironmental

Recreational

General

Protection

iransp

ortat

ion

andW

aterand

Cultural

Planning

andI lealth

Governm

entS

ervicesS

er

icesS

ervicesS

er

ices1)e\elo

pm

ent

Services

lotal

$$

$$

S$

$$

Re

Ciines

Net

municipal

taxationL

557.210

3.131.0053.270.39

I1.205.043

1.110.404286.633

1 7.173

10

.87

7.8

59

[sercharg

es404.932

L214.385

22.9802.196.388

208.64589.031

4.1

36.5

61

Go

ernment

grantsI.806.227

30.844-

—04

24

4I2,500

—1 .9

538

15ln

estmenl

103,163—

-—

——

103,163O

ther61,848

52.6612,767

2,388200,064

7,636-

327

.36

4

3,933,3804.428.895

3,296,1383,403,819

1.923,557395,8

00

17,1731

7.398762

Expenses

Salaries.

\\ages

andem

ployeebenefits

1.461.1531.631.972

1.960.786812.608

i.107.0

70

330.8977.30-L

486G

oodsand

senices

1.004.4943.134.03

11.204.847

927.333662.033

1 69.316

-7

J02.0

54

Other

139.886366.635

-10.817

303.268-

30.00085

0.5

76

Am

ortization1

14,779336,961

2,547,459354.350

391,513510

3,7

45

,57

2

2,720,3125,469,599

5,713,0922,105,108

2,463,854500,723

30,0001

9,0

02,6

88

Net

revenues(expenses)

1.213,068(1.040.704)

(2.416,954)1,298,711

(540,297)(1

04

.92

3)

—(1

2,8

27)

(1,6

03

,92

6)

Other

Grants

andtransfers

relatedto

capitalG

overnment

grants180.777

—1 61

6213

12.1)98C

ontributionsfrom

obligatoryre

ser

ehinds

260

5652,997

738,829G

ain(loss)

ondisposal

oftangible

ital

assets25,400

5,700(797

813)(9

1.7

7)

-

—7

99

0)

—---—

--_

__

__

_2.$

0()

61

.3’

6’

961(0

12T

h0

102O

3

\,aI

INJfiJ

’1

,8.$

66

6,)4O

,Z

S0.°0

3iZ

O‘4

iX

’

TH

EC

OR

PO

RA

TIO

NO

FT

HE

TO

WN

SH

IPO

FT

INY

SC

HE

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LE

3C

ON

SO

LID

AT

ED

SC

HE

DU

LE

OF

SE

GM

EN

TE

DR

EV

EN

UE

SA

NI)

EX

PE

NS

ES

FO

RT

HE

YE

AR

EN

DE

DD

EC

EM

BE

R31,

2017

Environm

entalR

ecreal

inn

a

General

Protection

Iransp

orlatio

nand

Water

andC

uIttiral

Planninrt

andIlealth

Governm

entS

ervicesS

er

icesS

ervicesS

ervicesD

e\elopinent

Ser\

icesT

otal

SS

$S

SS

SS

Re

enuesN

etm

unicipaltaxation

1,433,7983,335,186

2.453,1841,131,650

1.369.836328,193

20.2311

0,0

72,0

78

Userch

arges

468,6271.299,996

47,9622,191,906

239.02276,235

-4

,32

3,7

48

Go\ern

men

tgrants

1.711.82429,052

-159.105

599-

1,9

00,5

80

lnestm

ent

80579

--

--

80

.57

9O

ther13.516

L24$

-10.934

74.1647.636

-107.798

3,708.3444.665.482

2.5

01

14

63.334.490

1.842.427412.663

20.23116

.48

4.7

83

Fxpenses

Salaries.

vages

andem

ployeebenefits

1,388,1511

,112.287

1.873,941777,080

951.586

281.617

-6,3

84,6

62

Goods

andservices

759,3833,243,313

1.540,296794,277

876.046124.809

-7,3

38

,12

4O

ther-

-24,453

83,37662.692

49.5644

1.5

00

261,5

85

Am

ortization112,318

314,4992,772.912

391,83630

,t]770

3,9

22,8

76

2.259.8524.670.099

6.211.6022,046.569

2.220.865456.760

41.5

00

17

.90

7.2

47

Net

rev

en

ues

(expenses)1.448.492

(4.617)(3.710.456)

1.287.921(378.438)

(44.0

97)

i21.269)

C1

.42

2.4

64

)()ther

Grants

andtransfers

relatedto

capitalG

oern

mcn

tgrants

-454,408

270.803-

725,211

Contribul ions

fromobligatory

rese

re

funds75,861

1728a

93.1

46

(iainon

disposalof

tangiblecapital

assets900

6009

40

6,60(-

7400

009

-0

(.1)9

—‘XX

OSX

\n’

(411’)

(7

:).s

8)

.2o

4Ja

)4u

rZ

1)

corporation of the township of tiny documents/treasury/2018...baker tiily scei alp trading as baker...

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