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HomeMy Public PortalAbout2021-22 Consolidated Financial Statements_Approved by Council on 2022-07-28Consolidated Financial Statements Municipality of the District of Chester March 31, 2022 Contents Consolidated Financial Statements Municipality of the District of Chester Management's Responsibility Statement Independent Auditor's Report Consolidated Statement of Operations Consolidated Statement of Change in Net Financial Assets Consolidated Statement of Financial Position Consolidated Statement of Cash Flows Notes to the Consolidated Financial Statements Page 2-3 4 8-21 Schedules to Consolidated Statement of Operations 22 - 27 Grant Thornton LLP 4th Floor, Dawson Centre 197 Dufferin Street Bridgewater, NS B4V 2G9 T +1 902 543 8115 F +1 902 543 7707 Audit | Tax | Advisory © Grant Thornton LLP. A Canadian Member of Grant Thornton International Ltd 2 Independent auditor’s report To the Council of the Municipality of the District of Chester Opinion We have audited the consolidated financial statements of Municipality of the District of Chester (“the Municipality”), which comprise the consolidated statement of financial position as at March 31, 2022, and the consolidated statements of operations, change in net financial assets and cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of Municipality of the District of Chester as at March 31, 2022, and its results of operations, its changes in its net financial assets, and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. Basis for Opinion We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the consolidated Financial Statements section of our report. We are independent of the Municipality in accordance with 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Matter – Supplementary Financial Information Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements taken as a whole. The current year’s supplementary information included in the Schedules on pages 22 to 27 are presented for purposes of additional analysis and are not a required part of the consolidated financial statements. Such information has been subjected to the auditing procedures applied, only to the extent necessary to express an opinion, in the audit of the consolidated financial statements taken as a whole. Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Municipality’s ability to continue as a going concern, disclosing, as applicable, matters related to a going concern and using the going concern basis of accounting unless management either intends to liquidate the Municipality or to cease operations, or has no realistic alternative but to do so. Audit | Tax | Advisory © Grant Thornton LLP. A Canadian Member of Grant Thornton International Ltd 3 Those charged with governance are responsible for overseeing the Municipality’s financial reporting process. Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when 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 users taken on the basis of these consolidated financial statements. As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:  Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve 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 that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Municipality's internal control.  Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates 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 or conditions that may cast significant doubt on the Municipality's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Municipality to cease to 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 underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Bridgewater, Canada Chartered Professional Accountants July 28, 2022 Municipality of the District of Chester Consolidated Statement of Operations Year Ended March 31 Revenue Taxes Grants in lieu of taxes Sales of services Other revenue from own sources Transfers from Federal and Provincial governments and agencies Unconditional Conditional Grants for capital projects Interest Gain on disposal of assets Expenditures General government services Protective services Transportation services Environmental health services Environmental development services Recreational and cultural services Loss on disposal of assets Annual surplus Accumulated surplus, beginning of the year Accumulated surplus, end of the year 2022 2022 2021 Pape Budget Actual Actual 22 13,061,471 14,032,401 13,407,672 23 175,037 188,432 176,603 23 4,118,146 4,727,172 4,052,786 23 1,034,312 1,467,406 1,031,129 24 99,955 80,848 109,433 24 149,700 246,055 163,456 24 1,170,000 1,217,317 682,510 24,000 388,926 358,605 103,843 19,832,621 22,452,400 19,982,194 25 5,335,797 4,400,697 4,312,018 26 3,145,247 2,834,733 2,719,158 26 999,727 857,106 1,996,447 26 6,421,480 7,542,535 6,209,995 27 1,842,631 1,291,481 1,299,478 27 954,014 904,339 748,800 104,956 18,698,896 17,830,891 17,390,852 1,133,725 4,621,509 2,591,342 40,033,847 37,442,505 44,655,356 40,033,847 See accompanying notes and schedules to the consolidated financial statements. 4 Municipality of the District of Chester Consolidated Statement of Change in Net Financial Assets Year Ended March 31 2022 2022 2021 Budget Actual Actual Annual surplus $ 1,133,725 $ 4,621,509 $ 2,591,342 Acquisition of tangible capital assets 1,967,159) 1,554,447) Loss on disposal of tangible capital assets 104,956 Amortization of tangible capital assets 2,467,585 2,467,585 2,623,802 3,601,310 5,121,935 3,765,653 Decrease (increase) in prepaid expense 10,208 17,605) Increase in net financial assets 3,601,310 5,132,143 3,748,048 Net financial assets Beginning of year 15,718,253 15,718,253 11,970,205 End of year $ 19,319,563 $ 20,850,396 $ 15,718,253 See accompanying notes and schedules to the consolidated financial statements. 5 Municipality of the District of Chester Consolidated Statement of Financial Position March 31 2022 2021 Financial Assets Cash and cash equivalents (Note 4) 38,487,054 30,938,010 Receivables (Note 5) 2,701,151 3,101,918 41,188,205 34,039,928 Liabilities Payables and accruals 3,123,649 3,401,341 Employee future benefits (Note 6) 212,159 215,105 Deferred revenue (Note 7) 778,026 794,632 Tax sale surplus (Note 8) 351,450 279,099 Landfill closure costs liability (Note 14) 10,151,201 8,028,800 Long term debt (Note 9) 5,721,324 5,602,698 20,337,809 18,321,675 NET FINANCIAL ASSETS 20,850,396 15,718,253 Non -Financial Assets Tangible capital assets (Note 10) 23,620,930 24,121,356 Prepaids 184,030 194,238 23,804,960 24,315,594 ACCUMULATED SURPLUS (Note 11) 44,655,356 40,033,847 Commitments (Note 15) On behalf of the Municipality of the District of Chester Warden '\ Clerk Allen Webber Pamela I . Myr See accompanying notes and schedules to the consolidated financial statements. H. Municipality of the District of Chester Consolidated Statement of Cash Flows Year Ended March 31 2022 2021 Cash and cash equivalents provided by (used): Operating activities Annual surplus 4,621,509 $ 2,591,342 Amortization of tangible capital assets 2,467,585 2,623,802 Loss on disposal of tangible capital assets 104,956 7,089,094 5,320,100 Changes in non -cash working capital Decrease (increase) in receivables 400,767 465,307) Decrease (increase) in prepaid expenses 10,208 17,605) Decrease) increase in payables 277,692) 1,606,427 Decrease in employee future benefits 2,946) 8,871) Decrease) increase in deferred revenue 16,606) 339,893 Increase (decrease) in tax sale surplus 72,351 12,545) Increase in landfill closure costs liability 2,122,401 1,066,520 9,397,577 7,828,612 Capital transactions Acquisition of tangible capital assets 1,967,159) 1,554,447) 1,967,159) 1,554,447) Financing activities Proceeds from issuance of long term debt 1,182,503 Repayment of long term debt 1,063,877) 1,788,877) 118,626 1,788, 877) Increase in cash and cash equivalents 7,549,044 4,485,288 Cash and cash equivalents Beginning of year 30,938,010 26,452,722 End of year 38,487,054 $ 30,938,010 See accompanying notes and schedules to the consolidated financial statements. 7 Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 1. Significant accounting policies The consolidated financial statements of the Municipality of the District of Chester (the "Municipality") are prepared by management in accordance with Canadian Public Sector Accounting Standards (PSAS). Significant aspects of the accounting policies adopted by the Municipality are as follows: a) Reporting entity The consolidated financial statements reflect the assets, liabilities, revenues, expenditures and changes in accumulated surplus and in financial position of the reporting entity. The reporting entity is comprised of all organizations and enterprises accountable for the administration of their affairs and resources to the Municipality and which are owned or controlled by the Municipality. Interdepartmental and organizational transactions and balances are eliminated. The consolidated entity consists of are the general operating fund, general capital fund, operating reserve fund and the capital reserve fund. b) Basis of accounting The accrual basis of accounting followed in the financial statement presentation includes recognizing revenues in the period in which the transactions or events occurred that gave rise to the revenues and expenditures in the period the goods and services are acquired and a liability is incurred. c) Valuation allowance The Municipality provides a valuation allowance for estimated losses that will be incurred in collecting receivables outstanding. d) Cash and cash equivalents Cash and cash equivalents include cash on hand and balances with banks, bank overdrafts, and highly liquid temporary money instruments with original maturities of three months or less. Bank borrowings are considered to be financing activities. e) Use of estimates The presentation of financial statements, in conformity with PSAS, requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Significant items subject to such estimates and assumptions include the carrying amount of tangible capital assets, valuation allowances for receivables, assets and obligations related to employees future benefits and landfill closure liability. Actual results could differ from those reported. f) Landfill closure costs The Municipality operates a solid waste landfill site. Landfill closure costs for the landfill site include closure costs at retirement for capping the cells as well as post closure costs for ongoing environmental monitoring. An engineering report measures total capacity, capacity remaining and estimates the closure and post closure costs. These factors together with assumptions for timing of closure, annual inflation and rate of return are used to calculate the net present value of the cost. These costs are recognized as the landfill's capacity is used and this accumulated amount is the amount of the landfill closure cost liability at year end. The factors used in the calculation will be reviewed annually to assess their ongoing appropriateness. g) Contaminated sites Contaminated sites are a result of contamination being introduced into air, soil, water or sediment of a chemical, organic or radioactive material or live organism that exceeds an environmental standard. The liability would be recorded net of any expected recoveries. A liability for remediation of contaminated sites would be recognized when all the following criteria are met: i. an environmental standard exists; ii. contamination exceeds the environmental standard; iii. the Municipality of the District of Chester: is directly responsible; or accepts responsibility; and iv. a reasonable estimate of the amount can be made. As at March 31, 2022 there are no known contaminated sites identified. Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 1. Significant accounting policies (continued) h) Revenue and expenditure The accrual basis of accounting is used for all funds. The accrual basis of accounting recognizes revenues as they are earned and measurable; expenses are recognized as they are incurred and measurable as a result of legal obligation to pay. Tax and related revenue Property tax billings are prepared by the Municipality based on assessment rolls issued by the Property Valuation Services Corporation PVSC). Tax rates are established annually by Council during the budget approval process. Tax adjustments as a result of appeals and re- assessment are recorded when the result of the appeals process is known. Government transfers Grant proceeds from other governments are recognized as revenue when the transfer is authorized and eligibility criteria and stipulations are met. Grant proceeds where eligibility criteria and stipulations are not met are recorded as deferred revenue. Other revenues Other revenues are recognized as services or goods are provided, the exchange amount is measurable and collectability of the amount is reasonably assured. i) Tangible capital assets Tangible capital assets are recorded at cost, which includes all amounts that are directly attributable to acquisition, construction, development or betterment of the asset. The cost, less residual value, of the tangible capital assets is amortized on a straight-line basis over the estimated useful life as follows: Buildings - Plants 20 years Electronic Data Equipment 3 years Lagoons 10 years Land Improvements 20 years Landfill as estimated capacity is utilized Machinery and Equipment 5-10 years Municipal Buildings 40 years Sewer Lines 50 years Sidewalks 20 years Small Equipment 5 years Streets, Roads & Curbs 25 years Vehicles 5 years Wharves 25 years Wind Turbines 20 years Full amount of the annual amortization is charged in the year of acquisition except for wind turbines. Wind turbines are amortized beginning on the date power generation occurs in accordance with the provincial community feed -in tariff (COMFIT) program agreement. Assets under construction are not amortized until the asset is available for productive use. All costs associated with placing an asset in service, including freight, installation costs, site preparation costs, alterations and professional fees are included in the capitalized value. j) Budget figures The budget figures contained in these consolidated financial statements were approved by council on May 13, 2021 in its original fiscal plan. Note 20 outlines the original fiscal plan and the adjustments made to come to the budget figures shown in these consolidated financial statements. Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 1. Significant accounting policies (continued) k) New accounting standards As of the date of authorization of these financial statements, several new, but not yet effective accounting standards have been published by the PSAB. None of these standards have been adopted early by the Municipality. Effective for the fiscal period beginning on April 1, 2022, the Municipality is required to adopt the following Public Sector Accounting standards Section 3280 asset retirement obligations, which establishes the recognition, measurement, and disclosure requirements for reporting liabilities associated with the retirement of capital assets; Section 3450 financial instruments, which establishes standards for recognizing and measuring financial assets, financial liabilities, and non -financial derivatives; and Section 2601 foreign currency translation, 1201 financial statement presentation, and 3041 portfolio investments revise current standards that the Municipality has already adopted. The Municipality is in the process of determining the impact of these new sections on the financial statements. 2. Contributions to boards and commissions The Municipality, along with other municipal units in Lunenburg County, is required to provide funding for the operations of various Boards and regional authorities. In addition to any budgeted contributions, the municipal units share in the deficit or surplus of these Boards based on their sharing percentages. The municipality's share of the surplus or deficit is set up as payable to, or receivable from, the Boards. Lunenburg County Regional Housing Authority Responsible for 11.00% share of operations in Western Shore Unit Responsible for 11.00% share of operations in New Ross Unit During 2022, the Municipality incurred costs payable of $14,889 (2021 - $30,614) to the Lunenburg County Regional Housing Authority as its share of operations. South Shore Regional Library Board-17.94% share During 2022, the Municipality paid $68,035 (2021 - $68,035) to the South Shore Regional Library Board. 3. Contributions to provincial government departments & agencies The Municipality, along with other municipal units in Lunenburg County, is required to finance the operations of various provincial departments based upon formulas defined in legislation. Corrections contribution The required contribution for corrections is set by the Province, to be recovered from all municipal units. During 2022, the Municipality paid 233,337 (2021 - $234,295) to the province for correction services. Education contribution The required contribution to the South Shore Regional School Centre for Education is calculated using the mandatory municipal education rate set by the Minister of Education) times the Municipality's uniform assessment. For 2022 the education tax rate of $.3048 (2021 - $.3048) per 100 of uniform assessment times the uniform assessment of $1,707,471,788 (2021 - $1,671,069,183) for a total amount paid of $5,204,374 2021 - $5,093,419). Assessment services contribution The required contribution for assessment services is calculated first using an amount, set by the PVSC, to be recovered from all municipal units for 2022 $17,694,302 (2021 - $17,872,335). Fifty percent of this recovery amount is allocated among municipal units using each unit's uniform assessment as a percentage of provincial uniform assessment. The other fifty percent is allocated using each unit's number of assessment accounts as a percentage of the provincial assessment accounts. During 2022 the Municipality paid $349,827 (2021 - $354,714) to the PVSC for assessment services. 10 Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 4. Cash and cash equivalents The Cash and cash equivalents amount on the Consolidated Statement of Financial Position includes portfolio investments as follows Operating Capital Reserves 2022 2021 Cash $ 10,622,554 $ 86,466 $ 12,792,198 $ 23,501,218 $ 16,199,111 Short term investments (GICs) 14,985,836 14,985,836 14,738,899 10,622,554 $ 86,466 $ 27,778,034 $ 38,487,054 $ 30,938,010 Included in the cash and cash equivalents are restricted amounts. The gas tax grant program funds are restricted to eligible capital projects. The landfill closure funds are restricted by provincial regulations to fund landfill closure costs. The tax sale surplus funds are restricted as they are required to be held as described in note 8. Operating Capital Reserves 2022 2021 Gas tax grant program $ 3,276,929 $ 3,276,929 $ 3,239,703 Tax sale surplus account 351,450 351,450 286,433 Landfill closure costs 10,151,201 10,151,201 8,219,100 Unrestricted cash 10,271,104 86,466 14,349,904 24,707,474 19,192,774 10,622,554 $ 86,466 $ 27,778,034 $ 38,487,054 $ 30,938,010 5. Receivables 2022 2021 Taxes receivable - rate roll: Current 2020 Year 2021 and Prior Total Total Balance, beginning of year $ 1,105,035 $ 731,797 $ 1,836,832 $ 1,486,238 Collections for other governments 1,758,135 1,758,135 1,727,757 Current year's levy 16,349,518 16,349,518 16,059,632 18,107,653 1,1 055,035 731,797 19,944,485 19,273,627 Deduct Current year's collections 16,738,434 873,362 638,484 18,250,280 17,106,364 Reduced taxes 311,142 311,142 330,431 17,049,576 873,362 638,484 18,561,422 17,436,795 Balance, end of year 1,058,077 $ 231,673 $ 93,313 1,383,063 1,836,832 Allowance for uncollectible taxes & unresolved assessments 70,150) 73,607) Allowance for other doubtful accounts 49,138) 80,880) Taxes receivable - interest 115,726 184,236 Billing receivable - water utility 42) 42) HST receivable 92,187 96,517 Due from Federal government 7,801 46,566 Due from Provincial government 335,181 349,615 Due from other local governments 59,950 37,929 Landfill receivable 504,504 510,608 Water supply upgrade loans 117,193 109,644 Private road upgrade loans 19,516 23,848 Other 185,360 60,652 Receivables, end of year 2,701,151 $ 3,101,918 Iff Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 6. Employee future benefits - non -vested sick leave benefits The Municipality provides non -vested sick leave benefits to eligible Municipal employees. Municipal employees are provided with 15 days per year (1.25 days per month) and are allowed to accumulate unused sick day credits each year, up to the allowable maximum of 150 days. New employees are granted 3 days of sick leave on their date of hire with respect to the probationary period and any unused days can be carried over when the probationary period is completed. Accumulated credits may be used in future years to the extent that the employee's illness or injury exceeds the current year's allocation of credits. No benefit in respect of accumulated sick leave is payable upon termination, retirement, or death. The benefit costs and liabilities related to the plan are included in the consolidated financial statements. The most recent actuarial valuation was received for fiscal period ending March 31, 2022. The Municipality has provided non -vested sick leave benefits as follows: Accrued benefit liability Accrued benefit obligation, beginning of the year Current service cost for the year Interest cost for the year Fiscal payments for employees Accrued benefit liability Unamortized gains Accrued benefit obligation Employee future benefits, non -vested sick leave benefits Current service costs Interest cost for the year 2022 2021 215,105 $ 223,976 17,140 10,548 3,936 4,901 24,022) 24,320) 212,159 215,105 8,922) 10,755) 203,237 $ 204,350 17,140 $ 10,548 3,936 4,901 21,076 $ 15,449 The significant actuarial assumptions adopted in measuring the municipality's non -vested sick leave benefits are as follows: Discount rate 1.95% Retirement age at age 65 Rate of compensation increase 3.00% Actuarial gains are amortized starting the year following the year in which the gain occurs. Amortization is on a straight line basis over the expected average remaining service life (15 years). 7. Deferred revenue Funds received with specific eligibility criteria and stipulations that result in a liability, are recorded in deferred revenue until these initial criteria and stipulations have been met. 2022 2021 Prepayment of taxes $ 336,131 $ 269,300 Other deferred revenue 441,895 525,332 Total Deferred Revenue $ 778,026 $ 794,632 12 Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 8. Tax sale surplus account The Municipality is required to deposit in a tax sale surplus account the balance of proceeds of properties sold for taxes, after deducting the taxes owing to the Municipality at the time a property was sold. Where a balance remains in the tax sale surplus account twenty years after the sale, the Municipality is required to transfer it to the Capital Reserve Fund. As per provincial accounting rules for municipalities the tax sale surplus is shown as a liability on the consolidated financial statements. The tax sale surplus account amounts and the years in which they arose are as follows: 2022 2021 2003 8,396 8,396 2005 8,267 8,267 2011 20,717 20,717 2012 10,040 10,040 2014 9,944 9,944 2015 1,000 1,000 2016 40,158 40,158 2018 72,071 72,071 2019 15,407 15,407 2020 83,570 83,570 2022 72,351 accumulated interest 9,529 9,529 351,450 $ 279,099 9. Long term debt Capital asset loans Municipal Finance Corporation debenture, bearing interest of 4.590%, repayable in a final lump - sum payment of $300,000, in 2022. The original debenture of $1,000,000 was taken out in 2007 for environmental health services use. $ Municipal Finance Corporation debenture, bearing interest from 5.335% - 5.480%, repayable in annual instalments of $63,784 plus interest, and a final lump -sum payment of $174,694, maturing in 2024. The original debenture of $1,067,670 was taken out in 2008 for environmental health services use. Municipal Finance Corporation debenture, bearing interest from 3.340% - 3.480%, repayable in annual instalments of $63,000 plus interest, maturing in 2023. The original debenture of $630,000 was taken out in 2012 for environmental health and general government services use. Municipal Finance Corporation debenture, bearing interest from 2.644% - 2.979%, repayable in annual instalments of $45,250 plus interest, maturing in 2024. The original debenture of $794,500 was taken out in 2013 for environmental health services use. Municipal Finance Corporation debenture, bearing interest from 2.769% - 3.792%, repayable in an installment of 330,333 in 2020 followed by annual instalments of $235,333 plus interest, maturing in 2030. The original debenture of $4,005,000 was taken out in 2015 for environmental health and environmental development services use. 2022 2021 300,000 238,478 302,262 63,000 126,000 90,500 135,750 1,882,669 2,118,002 13 Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 9. Long term debt (continued) Municipal Finance Corporation debenture, bearing interest from 2.004% - 2.925%, repayable in annual instalments of $62,700 plus interest to fiscal 2022, then reduced to annual installments of 41,500 plus interest, maturing in 2027. The original debenture of $521,000 was taken out in 2016 for environmental health. Municipal Finance Corporation debenture, bearing interest from 2.5820% - 3.2995%, repayable in annual instalments of $259,810 plus interest, maturing in 2029. The original debenture of 2,598,104 was taken out in 2019 for environmental health. Municipal Finance Corporation debenture, bearing interest from 2.830% - 3.389%, repayable in annual instalments of $34,000 plus interest, maturing in 2029. The original debenture of $340,000 was taken out in 2019 for environmental health. Municipal Finance Corporation debenture, bearing interest from 0.400% - 2.376%, repayable in annual instalments of $132,317 plus interest to fiscal 2027,. then reduced to annual installments of 54,183 plus interest, maturing in 2032. The original debenture of $932,503 was taken out in.2022 for environmental health. 2022 2021 207,500 270,200 1,818,674 2,078,484 238,000 272,000 932,503 Municipal Finance Corporation debenture, bearing interest from 0.500% - 1.489%, repayable in annual instalments of $50,000 plus interest, maturing in 2027. The original debenture of $250,000 was taken out in 2022 for environmental health. 250,000 5,721,324 $ 5,602,698 Principal repayments during the next five years are due as follows: 2023 924,994 2024 972,904 2025 752,960 2026 752,960 2027 752,960 All long term debt outstanding at year end has been properly authorized by Service Nova Scotia and the Department of Municipal Affairs. Interest expensed on long term debt during the year was $175,876 (2021 - $207,081). 14 Municipality of the District of Chester , Notes to the Consolidated Financial Statements March 31, 2022 10. Tangible capital assets Buildings - Plants Electronic Data Equipment Lagoons Land Land Improvements Landfill Machinery and Equipment Municipal Buildings Sewer Lines Sidewalks Small Equipment Streets, Roads & Curbs Vehicles Wharves Wind Turbine Work in Progress Buildings - Plants Electronic Data Equipment Lagoons Land Land Improvements Landfill Machinery and Equipment Municipal Buildings Sewer Lines Sidewalks Small Equipment Streets, Roads & Curbs Vehicles Wharves Wind Turbine Buildings - Plants Electronic Data Equipment Lagoons Land Land Improvements Landfill Machinery and Equipment Municipal Buildings Sewer Lines Sidewalks Small Equipment Streets, Roads & Curbs Vehicles Wharves Wind Turbines Work in Progress Opening Cost Additions Disposals Transfers Ending Cost 11,885,940 63,358 $ 11,949,298 1,405,867 55,151 1,461,018 233,493 233,493 2,856,337 201,285 3,057,622 2,204,973 16,494 2,221,467 14,630,369 14,630,369 4,059,333 812,589 4,871,922 3,572,971 31,625 3,604,596 7,762,316 517,579 8,279,895 2,726,065 2,726,065 345,810 10,355 356,165 6,029,389 6,029,389 694,945 694,945 331,215 331,215 5,123,893 5,123, 893 569,644 258,723 828,367 64,432,560 1,967,159 $ 66,399,719 Opening Amortization Ending Accumulated During Amortization Accumulated Amortization the Year on Disposals Amortization 6,634,532 $ 443,697 $ 7,078,229 1,185,084 113,491 1,298,575 72,910 13,751 86,661 1,485,592 90,935 1,576,527 11,509,847 725,532 12,235,379 3,108,967 230,492 3,339,459 1,535,594 74,740 1,610,334 5,862,144 160,814 6,022,958 1,755,872 104,303 1,860,175 323,552 13,094 336,646 4,301,447 176,276 4,477,723 572,541 50,818 623,359 149,222 13,249 162,471 1,813,900 256,393 2,070,293 40,311,204 $ 2,467,585 $ 42,778,789 NBV 2022 NBV 2021 4,871,069 $ 5,251,408 162,443 220,783 146,832 160,583 3,057,622 2,856,337 644,940 719,381 2,394,990 3,120,522 1,532,463 950,366 1,994,262 2,037,377 2,256,937 1,900,172 865,890 970,193 19,519 22,258 1,551,666 1,727,942 71,586 122,404 168,744 181,993 3,053,600 3,309,993 828,367 569,644 23,620,930 $ 24,121,356 15 NI Lo to Lo 'IT Lo CO O n V' I` O N n .-. 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O CO O (O O 7 N tt m O 1- O 00 r 00 n 0 0 LO LO LO O tO N O N O m t0 LC) N O O 00 CO e} d' W O c- N (p 00 ' h tO M O e^ ' N N O N M 00 M 61 M M 00 M 01 N N Cl) O n LO h Cl) M Lp 1; r 00 ti 00 1` O d' LO Cl) 00 O LO LO N CO V N N CO (O O N W 00 O 00 00 h LC) N M LO O LO C Cl) r (7) l' r O N V 0 Ict O I' (O to Iq n r O h r h M 00 00 O O r- N N c- C") (O C0 N r r .4f 4 00 N r M 6 Lp O O M 4 TNNrr14Md' r N N N V 6q t9 69 NA M ( A CO O N n 00 Lo h M N O O N N G) M LO () O O W Q) O ' ' ' M N V a0 ' ' ' M 00 O ' O O N N 00 ' 00 a) O V M 00 N N Lo U t0 00 C7 CYl M (O NCANM0) N N Ih I- O ti V' Lo to CO coN Cl) LO 00 I.— I- O I- V• N O O N r-r N NLo L6 OCTM O pN N NNfA E9 Efi tf> 6 00 CO O (0 CD n' I- r LO V M CD co V' N Lo O tO M V' 0) 0) co co n h M tO co 0) Lo Lo Lo N co N co LO O CC ' ' O CA N N ' a0 M .- n d_ ' O V N O ' M Cfl OD_ W t` V M P.-IT I` ti co CM N CO V C7 m NO (0 V' O O 00 h 00 CO Lo C'7 ItN CY) Lo N 1• Lo N r- Ln Ln O O L()r M IT r I- W Lo (O r N N O O Lo Ln N N EA E9 09, to C d' ( 0 00 CO 00 I` Lo N V' Ln Lp M M W W co (Y) O M d' tirMI- O 00 CO 00 00 t (D Lo LO Lo O (0 r N cM CD N a0MOrP00WhOCLoLoCI' N Lo - O M O CA (A C'o ON N 00 00 (O o0 CO M C ) 'V I- LO t} N LO 0 ) (D 00 IT d' CO ItVCD co CO O CO (0 M Cl) 00 N O 00 LO M 00 CO co 00 O00 M COO ON MN 'c!' IL r- LW D 00 'V' OM Ntir to N vMVvN N N Ln O N V' •- M V Lo LO N Ok69, N C d i) i a. fA t0 d+ 7 tn m (A O i CTm m Om C m L m • R u^, L a) a) aa) i a3 m 0 ita) c , L 4 O a) C C a w U C.L) 4)O N 7 Em N 0 pt Q U N (0 w O coaCLa) Q o- c o p= 0) m a (ma d y 7CD vOi N X d N -- C C ' y cn N a) mCmcts 3 C w 0 O Q Q C N N ..O 0. w 7 V (0 N = Of6ClO C0vCC-. m- O U R fl f6 a) U N m U N O m O 7 O C a 0) V m m 7 mmy dNN =mzm ° m a) a o a) , mC6a^ C E m O O y C N m Coy'=. m ' aOCE a t) t- C O E Q 1 Cl m > O "a .O O C w-. 7 O a)> a) m N 7a) fa uC- > O 7 C .fl m N fl- O (6 N 2"" a N 2 m a Co .a+ V 16 ( D a .-. N E w N U N a N N :C >. N n 7 6 U Ch CQ lll C O L6 a ( Cp 7 N_ O iO (CO C C C m a) C a) •A-- a (9 N 7 V a) ro CL 77 L N gym., C 7 a 0 (6UC> (D.-f (am k L (6 C C' L C -o Q LZ' -- C C) C m U N C U Z 2 r M Ct' ( F-F-O F- W U J d'O Q a. W QQ MC) wo 00 J ZZQ LD c- I Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 12. School Capital Fund On January 31, 1982, the Municipality joined with the other Municipalities and Towns of Lunenburg County to form the South Shore District School Board, now the South Shore Regional Centre for Education. Under the agreement, all school buildings on hand at December 31, 1981, will remain assets of the Municipality, but will be under the control of the Regional Centre until such time as the Regional Centre no longer requires the asset for school purposes. At that time, control will revert to the Municipality. Since the Municipality does not have control over these assets at this time, they are not included in the consolidated financial statements of the Municipality. When control reverts back to the Municipality, they will be added as donated assets. 13. Pension plans Defined Contribution Plan The Municipality currently makes contributions to a pension plan on behalf of employees who have opted to participate in the plan. The pension plan is a defined contribution plan and is administered by Manul-ife on behalf of the Municipality. Contributions to this plan are shared by the Municipality and its employees with both contributing 5% or 6% of base salary. During the year, the Municipality contributed $194,281 2021 - $197,827) to the pension plan. 14. Landfill closure costs Landfill closure costs include estimated expenses for capping the cell sites as well as ongoing environmental monitoring and care. The liability for closure costs is accrued each year based on the total tonnes of garbage delivered to the landfill compared to the estimated tonnes of landfill capacity. The estimated total of landfill closure and post closure costs at the start of the second generation landfill was $9,835,350. Management continued the process of revisiting the landfill closure and post closure costs during the current year. The Municipality uses an engineering report dated May 2022 to update estimated landfill closure and post closure costs. Management will continue to monitor its estimate in future years. Based on information currently available, management estimates that the total landfill closure and post closure costs will be $18,603,464 when site capacity is completely utilized. The total liability recognized to date of $10,151,201 (2021 - $8,028,800) is based on the capacity of the site utilized to date and present value of the costs. The remaining $8,452,263 will be recognized as the landfill capacity is utilized each year. The 2022 report determined that total capacity of all cells is 87,857 tonnes higher then the previously obtained report in August 2019. The estimated remaining capacity of the site is 141,778 (2021 - 118,400) tonnes which is currently expected to be filled over the next 3 years. Additional cells will be constructed which will increase capacity by an additional 590,618 tonnes. A portion of the total current cost of landfill closure and post -closure care is being transferred into the Special Reserve Fund - Capital Reserve Section in each period the landfill accepts solid waste in the amount equal to the change in the closure liability recognized each year. The total amount for landfill closure costs in reserve is $10,151,201 (2021 - $8,028,800). The estimated time for post closure care is 25 years. Estimated closure and post closure costs as well as landfill capacity are examined annually. The calculated liability is revised annually based on the capacity of the landfill utilized during the year and any revisions for estimated closure and post closure costs. Any changes in the estimates used to calculate the accrued landfill closure and post closure costs, including cost, total capacity and discount rate, could result in a material change to the consolidated financial statements. The factors used in the calculation will be reviewed annual to assess their ongoing appropriateness. 17 Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 15. Commitments Solid Waste - Sales of Services The Municipality has contractually entered into agreements with the Valley Region Solid Waste Authority for the next 14 years, and the Town of Lunenburg and the Lunenburg Regional Solid Waste Management Committee for the next 4 years, to accept solid waste at its second generation landfill site. Fees charged to Valley Region Solid Waste Authority are a proportionate share of operating costs calculated annually on the basis of tonnes delivered to the site as a percentage of total tonnes accepted from all sources. Fees charged to the Town of Lunenburg and the Lunenburg Regional Solid Waste Management Committee are based on a per tonne charge which is adjusted annually for inflation. The Municipality of the District of Chester collects a host community fee from users based on the number of tonnes delivered to the landfill site. Solid Waste - Processing of Waste Agreement In August 2016, the Municipality entered into an agreement with Sustane Chester Inc. to provide Sustane with all municipal solid waste (MSW) for 20 years after construction of their facility on land leased from the Municipality. The Municipality will pay Sustane a base fee per tonne for waste delivered to Sustane's facility. Sustane will separate MSW and convert it into marketable by-products with the goal to reduce MSW going to the landfill (up to 90%), create employment in the region, increase recycling rates and reduce the carbon footprint of the landfill site. Sustane will pay the Municipality a fee per tonne for any residual waste that cannot be processed and must go to the landfill. An estimate of the financial impact on future operations cannot be made at this time. Waste Collection In April 2019, the Municipality signed a contract for waste collection services with a 5 year term expiring in March 2026. Total payments remaining over the next five years amount to $3,145,611 plus HST. Capital Commitments Contracts for the construction of new landfill cell in the amount of $5,914,648 + HST was approved by Council on April 28, 2022 motion 2022- 151. 16. Remuneration The Municipality is required by legislation to disclose the remuneration paid to each council member and the chief administrative officer. 2022 2021 Councilor Remuneration Mileage Expenses Total Total Danielle Barkhouse 9,355 $ 1,501 $ 10,856 $ 23,702 Sharon Church 22,452 220 1,483 24,155 24,054 Tina Connors 22,452 2,129 2,132 26,713 26,055 Abdella Assaff 22,452 393 1,495 24,340 24,211 Floyd Shatford 25,658 412 319 26,389 26,460 Andre Veinotte 22,452 1,972 24,424 9,907 Allen Webber 49,030 79 2,891 52,000 51,588 Marshall Hector 14,458 Derek Wells 7,952 99 8,051 Staff Daniel McDougall 153,878 166 26,841 180,886 172,549 335,681 $ 3,399 $ 38,733 $ 377,813 $ 372,984 Expenses include remuneration benefits (i.e. CPP, group insurance), conferences, meals, accommodations cell phone, and Pad. 18 Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 17. Compensation Disclosure Act The Municipality is not required to disclose compensation pursuant to the Public Sector Compensation Disclose Act, but the Municipality has decided, for the purposes of transparency, to disclose compensation in accordance with the financial reporting provisions in section 3 of the Public Sector Disclosure Act dated December 10, 2010. The disclosure includes employees with compensation in excess of $100,000. Compensation" is defined as the total amount or value of all cash and non -cash salary, wages, payments, allowances, bonuses, commissions and perquisites, other than a pension, pursuant to may arrangement, including an employment contract. Name Compensation Cliff Gall 114,197 Tara Maguire 113,179 Dan McDougall 153,878 Pam Myra 113,605 Christa Rafuse 106,732 18. Segmented Information The Municipality is a diversified municipal unit that provides a wide range of services to it's citizens. For management reporting purposes the Municipality'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. Municipal services are provided by departments and their activity is reported in these funds. The services provided by these departments are as follows. General government services This department is responsible for the overall financial and local government administration. Its tasks include tax billings and payments, accounts payable and receivables, budgets and financial statements, the Municipal Government Act, administration and maintenance of bylaws and change of address. Protective services This department is responsible for overseeing police and legal services, animal control, fire protection issuing building permits and fire safety inspections. Transportation servicers This department is responsible for the development and maintenance of roads, sidewalks and street lighting. Environmental health services This department is responsible for the maintenance and operations of waste and sewer services provided to residents and other customers. Its tasks include waste collection, recycling, composting and sewer hook-up. Environmental development services This department is responsible for planning and development within the municipality. Its tasks include operations of the wind turbine, issuing development permits, developing strategies, economic development and planning reports. Recreational and cultural services This department is responsible for promoting and offering recreation opportunities and activities to the Municipality's residents. 19 N N M (D O Cl) 0 O LO T 7 LO O N N 7 (D N N O r CD M N C`') LO r C) 0-) O O 7 C) 00 1- l0 LO 7 N 1 O (O 1` r 7 7 Lo (fl r LO N r M O co O 00 CO O I- (fl N O 1: (n Cl) OO M N 00CO00O N00 N O N M r 7 1` M N N O N VO O0) 0) M 7 r- C O r r (.0 Cl) O N o0 7 (O N 0) r M O CO M 7 - a 7 00 N N U 19a to a r N N CD 00 CD n to Cl) O CD to N tD N 00 r Op ,4: O Cl) ti O et CD r N a O D a (D 00 to 1- 0) O N M 7 7 r 7 00 O (`7 O 00 It to to 00 (A It n 00 t0 a N 00 1, 1- Clt0 h 00 M N— h h 1, 0 N O r O M 00 N (D 00 eT r 00 CD t) C)r r (D 00 -' M N O{ a' r N N Cl) r r N d' to 'T 7 r 1- 7' O N 00 11 D U ss fl c a i(n O O 7 co Cl) 7 0)NCi+ 7 U M CD ID co M M M O M w i i O i LD i . i N r N ' 1- (O M r 7L) V O O 0') 0) a) y M 7 N t() Q' ER EA n) C N O CO h t` r O N N D U d O N I O r (A ' NC) 7 LO E 0, o v o L6 rn (ri o (o o) Ce CO O fn L COO CO co LO O M M N Cl) r r C W EA y} d CD 7 Cl) 7 D C) 7 Cn LO D) V i OO 0 Or M N Cl) d C) 0 i i i i I` ' E 2 d ti ti O 7 N LO- CO W O I- I O co (A CO r O L M M V r r c W Fn C M O 0) 0') M rNCO1-(0 WVMCDCO0) O Q) a .> N i LO i co D .-_ ' M0) N t L CO C\ ti 7 C) O_ O N aCl) N N D co LO to CCLttq N MO 00 7 (D fl 0')O LO (D N M cY V C)(n M N N M co 7 (() M r U • D r_ O_ 7 CD' O_ CD LO (O ' ' I- h y O CO ((7 c 7 fl 7 O M 7 O 0) Cl) O M L r ON4) W M d N N N M C tq w Ca) 0) 7 r T O r M Cl) 1O N 0 7 N 00 0) C.1 Cn (' O) t!7 7 N r 00 7 7 Go MCO N O 0) sf' C E 7 N r- M M M M M cl oc O NI- a0 M O O O D 16 d C i M O O M M N Cn O I- Cl) O r CO M M CO CD 7 7 0')7 O C)7 L ( n D (n I r N r N M r O N 0) 7 r- (O 7 D 0O O r N 7 h 41 RS U' U CD v c OMOr Uc OM MN ' a M 03M NRfE O MM -a o m oM 3 w M M o U M m U a 0cFoO c c 'o co++ O U c B E a`) c M m U a o M co D - O U o 0 04 NQ C O U_ N N L Q M 0M M O 7 CD NE N C C 0 co 0Li N O 0) 0) 0O LOM03 4Za) C M a) O M NG7O 0 0 M C O C N M O O X SU @a) O M COM Z E 06 CD (u 6 C 0 U C7 s 0 W co 0 0 0 O N Municipality of the District of Chester Notes to the Consolidated Financial Statements March 31, 2022 19. Contingency The Municipality is required to comply with environmental permit directives for two waste water treatment plants. As a result the Municipality was required to complete upgrades to these waste water treatment system by December 31, 2020. As of the date of these financial statements, no remediation work had begun, as an assessment of options was required. Remediation work is expected to be completed in 2022 and 2023. No contingent liability is considered necessary. 20. Budgeted figures Public Sector Accounting Standards ("PSAS") require a comparison of the results for the period with those originally planned on the same basis as that used for the actual results. The fiscal plan presented in the Consolidated statements of operations and changes in net financial assets has been adjusted to be presented on a basis consistent with the actual results. A reconciliation of the approved and reported budget is set out below: Approved budget - annual surplus (deficit) Amortization of tangible capital assets Transfers to (from) other funds Transfer from own accumulated surplus Principle payments on debt Budget 2,467,585) 2,760,797 70, 981) 911,494 Annual surplus per consolidated financial statements $ 1,133,725 21 Municipality of the District of Chester Schedules to Consolidated Statement of Operations Unaudited) Year Ended March 31 2022 2021 REVENUE Taxes Residential assessable property Commercial based taxable assessments Resource Taxable assessments Non-profit acreage Forest property tax (less than 50,000 acres) Forest property tax (50,000 acres or more) Area rates Protective services Transportation services Environmental Health services Business property Based on revenue (Aliant) NS Power HST rebate Deed Transfer tax Wind Farm Developer tax Transfers and collections for other governments Collection - other governments Transfers to local fire commissions Education mandatory contribution (Note 4) Correction services (Note 4) Regional Housing Authority (Note 3) Budget Actual Actual 10,924,672 $ 10,683,570 1,446,465 1,443, 748 1,450, 734 320,749 315,518 318,198 5,564 5,471 4,360 27,139 27,135 26,592 8,073 8,062 8,847 361,525 356,186 357,997 342,621 335,606 336,457 290,326 275,219 269,272 3,027,446 3,014,087 2,961,602 3,660,393 3,624,912 3,567,331 45,304 45,304 47,235 53,221 45,951 54,271 98,525 91,255 101,506 1,371,082 2,364,892 1,930,379 663,102 690,030 683,196 1,764,227 1,758,135 1,727, 757 1,764,227). 1,768,829) 1,736,470) 10,694) 8,713) 18, 530,082 19,485,001 18, 766, 000 5,204,374) 5,204,374) 5,093,419) 233,337) 233,337) 234,295) 30,900) 14,889) 30,614) 5,468,611) 5,452,600) 5,358,328) 13,061,471 $ 14,032,401 $ 13,407,672 See accompanying notes and schedules to the consolidated financial statements. 22 Municipality of the District of Chester Schedules to Consolidated Statement of Operations Unaudited) Year Ended March 31 2022 2021 Grants in lieu of taxes Federal government Provincial government Real property Crown timberland Fire protection Conservation Provincial government agencies NS Power Incorporated Sales of services Animal control fees - other local govt Waste Collection fees - other local governments Waste Collection fees - surplus repayment Planning services - other local governments Building/fire inspection services - other local gov't Recreation and cultural services FHCS REMO - other local governments Wind Energy Other revenue from own sources Administrative services Tax sale surplus transferred to reserves Transportation services Building inspection services Animal control services Sewer hookup services Solid waste & disposal services Planning services Industrial park services Budget Actual Actual 50,047 58,858 48,403 58,003 57,665 57,889 32,381 32,574 32,594 5,014 5,158 2,836 7,000 11,585 12,316 152,445 165,840 154,038 22,592 22,592 22,565 175,037 188,432 176,603 36,000 39,317 34,369 3,095,713 3,749,309 3,572,724 6,506 5,219) 523,441) 48,662 49,999 49,849 84,512 63,079 48,547 88,450 47,396 47,206 25,800 6,341 3,660 2,503 2,668 2,660 730,000 774,282 817,212 4,118,146 4,727,172 4,052,786 277,638 439,592 234,246 3,035 10,614 12,589 12,275 23,000 66,806 38,908 1,925 1,620 1,883 500 2,479 2,614 675,715 773,614 682,864 19,920 132,412 16,969 25,000 38,294 38,335 1,034,312 1,467,406 1,031,129 See accompanying notes and schedules to the consolidated financial statements. 23 Municipality of the District of Chester Schedules to Consolidated Statement of Operations Unaudited) Year Ended March 31 2022 2021 Unconditional transfers from Federal and Provincial governments and agencies Provincial government Service Nova Scotia Assessment Act - farm acreage Recycling projects Conditional transfers from Federal and Provincial governments and agencies Federal government Employment grants Infrastructure grant Provincial government Emergency measures Economic development Recreation Safe Start Other agencies Grants for Capital Projects Gas tax grant Provincial grants Budget Actual Actual 7,145 7,145 7,119 92,810 73,703 102,314 99,955 80,848 109,433 3,000 10,104) 4,700 4,726 4,718 58,750 32,000 51,500 34,664 50,000 199,133 54,824 10,000 800 10,500 99,700 246,055 163,456 1,170,000 1,217,317 599,418 83,092 1,366,400 $ 1,217,317 $ 682,510 See accompanying notes and schedules to the consolidated financial statements. 24 Municipality of the District of Chester Schedules to Consolidated Statement of Operations Unaudited) Year Ended March 31 2022 2022 2021 Budget Actual Actual EXPENDITURES General government services Legislative Council/committee remuneration $ 196,869 $ 187,141 $ 191,967 Administrative expenses 178,785 105,534 167,925 Grants to organizations 289,000 203,398 359,104 Elections 9,618 32,983 664,654 505,691 751,979 CAO/Clerk administrative Administration salaries and benefits 691,948 657,122 634,488 Administrative expenses 489,080 156,815 113,775 Town crier 500 454 Surveys/appraisals 2,000 Newsletter/promotions 19,300 7,402 12,083 Joint occupational health and safety 99,155 67,550 72,081 Health & wellness 7,000 4,283 4,529 1,308,983 893,626 836,956 Finance/property tax administrative Administration salaries and benefits 493,935 493,883 461,554 Administrative expenses 224,072 187,427 140,645 Auditor services 40,000 39,833 40,000 Property tax administration 379,860 347,982 377,791 1,137, 867 1, 069,125 1,019, 990 Information services administrative Administration salaries and benefits 365,743 293,541 282,756 Administrative expenses 218,210 197,192 149,355 Debenture interest and discounts 2,173 924 854 586,126 491,657 432,965 Municipal property services Salaries and benefits and benefits 230,700 201,531 190,878 Administrative expenses 62,660 56,889 54,094 Property services 452,000 210,181 131,000 Wharves 7,500 4,423 9,904 Community Development 12,000 2,763 1,295 764,860 475,787 387,171 Public works general Salaries and benefits 204,040 236,139 200,857 Administrative expenses 58,250 135,731 52,774 Special Projects 48,320 31,209 49,779 310,610 403,079 303,410 Other general government services Assessment recovery costs 349,827 349,827 354,714 Regional library 69,000 68,035 68,035 Amortization 143,870 143,870 156,798 562,697 561,732 579,547 5,335,797 $ 4,400,697 $ 4,312,018 See accompanying notes and schedules to the consolidated financial statements. 25 Municipality of the District of Chester Schedules to Consolidated Statement of Operations Unaudited) Year Ended March 31 2022 2022 2021 Budget Actual Actual Protective services Police services 1,987,374 1,983,042 1,888,942 Legal prosecution services 5,000 1,200 2,850 By-law enforcement 65,247 38,805 36,176 Animal control 76,629 70,564 65,200 Emergency measures 63,111 49,840 66,627 2,197,361 2,143,451 2,059,795 Fire services Fire coordinator/advisory 218,312 91,818 61,665 Fire protection agreement 306,360 312,232 306,139 Fire rescue boat 9,599 10,654 10,154 534,271 414,704 377,958 Building/fire inspections Salaries and benefits 283,517 188,617 216,282 Administrative expenses 118,546 76,409 53,571 Amortization 11,552 11,552 11,552 413,615 276,578 281,405 3,145,247 2,834,733 2,719,158 Transportation services Road transport Administration 32,780 22,625 10,399 Road and sidewalk maintenance 602,605 477,629 1,633,307 Street lighting 121,726 114,544 109,619 Debenture interest 2,219 1,911 2,725 Amortization 240,397 240,397 240,397 999,727 857,106 1,996,447 Environmental health services Sewage collection and disposal 779,740 895,595 618,582 Waste collection and disposal 3,788,305 4,822,059 3,647,330 Recycling project 62,458 51,892 42,244 Debenture interest 132,263 114,275 130,915 Amortization 1,658,714 1,658,714 1,770,924 6,421,480 7,542,535 6,209,995 See accompanying notes and schedules to the consolidated financial statements. W Municipality of the District of Chester Schedules to Consolidated Statement of Operations Unaudited) Year Ended March 31 2022 2022 2021 Budget Actual Actual Environmental development services Planning and zoning $ 559,405 $ 499,265 $ 453,724 Economic Development 321,972 213,417 282,981 Tourism development 65,555 21,947 33,665 Eco Park 349,061 21,646 11,316 Regional economic network 10,000 Wind Turbine 147,992 148,565 109,452 Debenture interest 68,347 66,342 72,588 Amortization 320,299 320,299 335,752 1,842,631 $ 1,291,481 $ 1,299,478 Recreational and cultural services Administration 667,991 $ 742,824 $ 545,400 Program expenses 39,700 47,410 32,032 Church Memorial Park 75,000 50,000 Heritage properties 500 Forest Heights Community School 33,895 10,898 5,557 New Ross Community School 8,125 727 1,876 After school programs 36,050 9,727 5,556 Amortization 92,753 92,753 108,379 954,014 $ 904,339 $ 748,800 See accompanying notes and schedules to the consolidated financial statements. 27