| |
THE
REGIONAL MUNICIPALITY OF YORK
Sinking Fund Statement of Financial Position
For the year ended December 31, 2006 |
| |
|
2006 |
2005 |
|
| |
|
$ |
$ |
|
| FINANCIAL ASSETS |
|
|
|
| Investments – at amortized cost (Note 1) |
|
1,854,748 |
1,649,056 |
| Due from Region |
|
- |
55 |
|
| Total Assets |
|
1,854,748 |
1,649,111 |
|
|
|
|
|
|
|
| LIABILITIES |
|
|
|
| Actuarial requirement for retirement of the |
|
|
|
| Sinking Fund (Note 2) |
|
1,764,125 |
1,579,818 |
| Fund balance |
|
90,623 |
69,293 |
|
| Total Liabilities and Fund Position |
|
1,854,748 |
1,649,111 |
|
|
|
|
| |
|
|
|
THE
REGIONAL MUNICIPALITY OF YORK
Sinking Fund Statement of Financial Activies and Change in Fund Balance
For the year ended December 31, 2006 |
| |
Budget |
2006 |
2005 |
| |
(Unaudited) |
|
|
|
| |
$ |
$ |
$ |
|
| REVENUES |
|
|
|
| Contributions from Area Municipalities |
104,968 |
104,968 |
104,968 |
|
| Total contributions |
104,968 |
104,968 |
104,968 |
|
|
|
|
| Interest earned |
100,662 |
100,669 |
90,958 |
|
| Total revenues |
205,630 |
205,637 |
195,926 |
|
|
|
|
| EXPENDITURES |
|
|
|
| Actuarial requirement for the year |
(184,306) |
(184,307) |
(176,007) |
|
| Change in Fund Balance |
21,324 |
21,330 |
19,919 |
| Opening Fund Balance |
69,293 |
69,293 |
49,374 |
|
| Closing Fund Balance |
90,617 |
90,623 |
69,293 |
|
|
|
| |
|
|
|
| The accompanying notes are an integral part of these Financial Statements. |
| |
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