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| THE REGIONAL MUNICIPALITY
OF YORK |
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RESIDENTS' TRUST FUNDS
& DONATION ACCOUNT
STATEMENT OF FINANCIAL POSITION |
As at December 31,2001
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Trust
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Donation
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2001
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2000
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$
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$
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$
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$
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| FINANCIAL
ASSETS |
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| Cash |
100,162
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15,709
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115,871
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91,356
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| Investments |
395,000
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-
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395,000
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405,000
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| Residents’
petty cash |
5,000
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-
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5,000
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5,000
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| Total
Assets |
500,162
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15,709
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515,871
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501,356
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| EQUITY |
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| Residents’
equity |
500,162
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15,709
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515,871
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501,356
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| Fund
Balances |
500,162
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15,709
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515,871
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501,356
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THE REGIONAL MUNICIPALITY
OF YORK
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| RESIDENTS’
TRUST FUNDS & DONATION ACCOUNT |
| STATEMENT
OF FINANCIAL ACTIVITY |
For the year ended
December 31, 2001
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Trust
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Donation
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2001
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2000
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$
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$
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$
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$
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| Balance,
beginning of year |
490,525
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10,831
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501,356
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521,030
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| Source
of funds: |
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| Deposits
on behalf of residents |
196,190
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16,274
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212,464
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2,459,550
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| Interest
earned on deposits |
12,426
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615
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13,041
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23,312
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208,616
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16,889
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225,505
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2,482,862
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| Use
of funds: |
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| Withdrawals |
(10,000)
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-
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(10,000)
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(2,472,536)
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| Investing |
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| Matured
investments not reinvested |
(188,979)
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(12,011)
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(200,990)
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(30,000)
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| Net
activity |
9,637
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4,878
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14,515
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(19,674)
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| Balance,
end of year |
500,162
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15,709
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515,871
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501,356
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| The accompanying notes are an integral
part of these Financial Statements. |
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Notes to the Residents’
Trust Funds and Donation Account
Statement of Financial Position and Financial Activities
December 31, 2001
1. Accounting Policies
a) These financial statements reflect the financial activity
and financial position of funds held in trust by the Regional
Municipality of York (the ‘Region’) for residents
of Newmarket Health Centre and Maple Health Centre, and funds
donated to the facilities.
b) Funds held in trust and monies received by way of donation
are invested by the Region on behalf of the residents. Interest
is credited to the funds based on the average yield earned
by the Region on its investments.
2. Basis of Accounting
a) Cash and investments are recorded at cost.
b) Deposits on behalf of residents are reported upon receipt
and interest income is reported on the accrual basis of accounting.
Withdrawals are reported in the period made.
3. Investments
The investments have a market value of $395,000 (2000 - $405,000).
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