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Home My Public Portal About2021_2022 MODC Non Consol FS_FinalMarch 31, 2022 Municipality of the District of Chester Non-consolidated Financial Statements Municipality of the District of Chester Non-consolidated Financial Statements Supplementary Financial Information Contents Page General Operating Fund Non-consolidated Statement of Financial Position B-1 Non-consolidated Statement of Operations B-2 Schedules to Non-consolidated Statement of Operations B-3 - B-6 General Capital Fund Non-consolidated Statement of Financial Position B-7 Non-consolidated Statement of Operations B-8 Reserve Funds Non-consolidated Statement of Financial Position B-9 Non-consolidated Statement of Operations B-9 Contents MODC 2 Municipality of the District of Chester General Operating Fund Non-consolidated Statement of Financial Position March 31, 2022 2022 2021 ASSETS Financial Assets Cash and cash equivalents 10,337,877$ 3,120,813$ Restricted cash 284,678 286,433 Taxes and sewer receivable (net of valuation allowance)1,428,639 1,947,461 Other receivables (net of valuation allowance)1,135,803 1,020,965 Loans and advances 136,709 133,492 Total Financial Assets 13,323,706 6,509,164 LIABILITIES Payables and accruals 3,092,399 3,370,091 Accrued sick leave benefit liability 212,159 215,105 Deferred revenue 630,968 647,574 Tax sale surplus 351,450 279,099 4,286,976 4,511,869 Due to own funds, reserves Due to capital Due to operating reserve fund 5,265,099 1,052,183 Due to other own funds, reserves 9,539,952 3,988,194 14,805,051 5,040,377 Total Liabilities 19,092,027 9,552,246 NET DEBT (5,768,321) (3,043,082) NON-FINANCIAL ASSETS Prepaid expenses 184,030 194,238 184,030 194,238 ACCUMULATED SURPLUS (DEFICIT)(5,584,291)$ (2,848,844)$ B-1 3 Municipality of the District of Chester General Operating Fund Non-consolidated Statement of Operations March 31, 2022 2022 2021 Page Budget Actual Actual Revenue Property taxes B-3 13,015,395$ 13,993,596$ 13,360,520$ Grants in lieu of taxes B-3 152,445 165,840 154,038 Services provided to other governments B-3 3,300,485 3,921,779 3,184,708 Sales of services B-4 844,250 828,019 868,078 Other revenue from own sources B-4 1,031,723 1,200,502 1,048,599 Unconditional transfers B-4 168,623 142,246 179,150 Conditional transfers B-4 149,700 264,731 246,547 18,662,621 20,516,713 19,041,640 Expenditures General government services B-5 5,122,927 4,188,791 4,087,192 Protective services B-5 3,133,695 2,823,181 2,707,606 Transportation services B-6 759,330 616,709 1,756,050 Environmental health services B-6 4,762,766 3,761,420 3,372,551 Environmental development services B-6 1,522,332 971,182 963,726 Recreation and cultural services B-6 930,261 879,622 708,456 16,231,311 13,240,905 13,595,581 Surplus (deficit) before transfers 2,431,310 7,275,808 5,446,059 Financing and Transfers Principal payments on debt (911,494) (1,063,877) (1,788,877) Transfers (to) from own funds, reserves General capital (144,996) (597,844) Operating reserve (4,178,406) (1,647,786) Capital reserve (2,156,393) 420,901 Total Financing and Transfers (911,494) (7,543,672) (3,613,606) Change in fund balance 1,519,816$ (267,864)$ 1,832,453$ Opening fund balance (2,848,844) 3,060,072 Amortization of capital assets (2,467,585) (2,623,802) Amort cap assets previous years - (4,996,707) Rounding / Prior Yr Correction 2 (120,860) Closing fund balance (Schedule 11 FS)(5,584,291)$ (2,848,844)$ B-2 4 Municipality of the District of Chester Schedules to Non-consolidated Statement of Operations March 31, 2022 2022 2021 Revenue Budget Actual Actual Taxes Assessable property Residential 10,928,990$ 10,924,672$ 10,683,569$ Commercial 1,446,465 1,443,748 1,450,734 Forest property tax (50,000 acres or more)8,073 8,062 8,847 Resource Taxable assessments 320,749 315,518 318,198 Forest property tax (less than 50,000 acres)27,139 27,135 26,592 Other assessable property taxes Recreation property tax 5,564 5,471 4,360 Farm property acreage payment from Province of NS 7,145 7,145 7,119 Area Rates Area rates, uniform charges, and other assessments - Res.3,660,393 3,624,912 3,567,331 Taxes and rates collected for Other Gov'ts/ Agencies - Comm.1,764,227 1,758,135 1,727,757 Less: Transmission of revenue collected for other Gov'ts/Agencies (1,764,227) (1,768,828) (1,736,470) Special tax agreements Bell Aliant - based on revenues 45,304 45,304 47,235 Wind farm taxes from developers 663,102 690,030 683,196 Other Deed transfer tax 1,371,082 2,364,892 1,930,379 Expenditures as a reduction of tax revenue Appropriations to regional centre for education (5,204,374) (5,204,374) (5,093,419) Transfer to correctional services (233,337) (233,337) (234,295) Deficit of Regional Housing Authority (30,900) (14,889) (30,614) 13,015,395$ 13,993,596$ 13,360,519$ Grants in lieu of taxes Federal government and federal government agencies 50,047$ 58,858$ 48,403$ Provincial government and agencies Payment in lieu 90,384 90,239 90,483 Fire protection 5,014 5,158 2,836 Other grants in lieu 7,000 11,585 12,316 152,445$ 165,840$ 154,038$ Services provided to other governments Services to other local governments 3,300,485$ 3,921,779$ 3,184,708$ B-3 5 Municipality of the District of Chester Schedules to Non-consolidated Statement of Operations March 31, 2022 2022 2021 Revenue Budget Actual Actual Sales of services Recreation and cultural services 114,250$ 53,737$ 50,866$ Wind power 730,000 774,282 817,212 844,250$ 828,019$ 868,078$ Other revenue from own sources Licenses and permits 49,039$ 102,693$ 71,360$ Fines 30,150 9,346 14,246 Rentals 25,000 38,294 38,336 Return on investments 24,000 48,376 30,201 Penalties and interest on taxes 166,624 171,590 202,290 Miscellaneous 736,910 830,203 692,167 1,031,723$ 1,200,502$ 1,048,600$ Unconditional transfers from other governments NSPI - Grant in lieu of taxes 22,592$ 22,592$ 22,565$ NSPI - HST Offset 53,221 45,951 54,271 Provincial government 92,810 73,703 102,314 168,623$ 142,246$ 179,150$ Conditional transfers from Federal and Provincial governments and agencies Federal government 3,000$ 8,572$ -$ Provincial government 136,700 255,359 236,047 Other local governments 10,000 800 10,500 149,700$ 264,731$ 246,547$ B-4 6 Municipality of the District of Chester Schedules to Non-consolidated Statement of Operations March 31, 2022 2022 2021 Expenditures Budget Actual Actual General government services Legislative Warden Remuneration 49,030$ 49,030$ 48,883$ Expenses 6,700 2,970 2,705 Council Remuneration 137,919 132,773 137,504 Expenses 40,285 12,155 10,657 Elections - 9,618 32,983 Other legislative services 141,720 95,745 160,145 General administration General administrative and financial management 4,017,413 3,187,767 2,960,956 Taxation Tax rebates or cancellations 329,660 311,142 330,431 Transfer for assessment services 349,827 349,827 354,714 Other taxation 38,200 36,840 37,024 Valuation allowance 10,000 - 10,336 Interest on long-term debt 2,173 924 854 5,122,927$ 4,188,791$ 4,087,192$ Protective services Police protection 1,987,374$ 1,983,041$ 1,888,942$ Fire protection Other fire protection 534,271 414,705 377,958 Other protective services 612,050 425,435 440,706 3,133,695$ 2,823,181$ 2,707,606$ B-5 7 Municipality of the District of Chester Schedules to Non-consolidated Statement of Operations March 31, 2022 2022 2021 Expenditures Budget Actual Actual Transportation services Roads and streets 635,385$ 500,254$ 1,643,706$ Street lighting 121,726 114,544 109,619 Interest on long term debt 2,219 1,911 2,725 759,330$ 616,709$ 1,756,050$ Environmental health services Sewage collection and disposal 779,740$ 895,595$ 618,582$ Garbage and waste collection and disposal 3,788,305 2,699,658 2,580,811 Recycling 62,458 51,892 42,244 Interest on long-term debt 132,263 114,275 130,914 4,762,766$ 3,761,420$ 3,372,551$ Environmental development services Environmental planning and zoning 559,404$ 499,265$ 453,724$ Community development 545,972 213,417 282,981 Other environmental development services 348,609 192,158 154,433 Interest on long-term debt 68,347 66,342 72,588 1,522,332$ 971,182$ 963,726$ Recreation and cultural services Recreation facilities, admin and programs 861,261$ 811,587$ 640,421$ Transfers to regional library 69,000 68,035 68,035 930,261$ 879,622$ 708,456$ B-6 8 Municipality of the District of Chester General Capital Fund Non-consolidated Statement of Financial Position March 31, 2022 2022 2021 ASSETS Financial assets Cash and cash equivalents 86,466$ 86,035$ Due from own funds, reserves 6,364,993 4,165,234 Total financial assets 6,451,459 4,251,269 LIABILITIES Current liabilities Payables and accruals 31,250 31,250 Deferred revenue 147,058 147,058 178,308 178,308 Long term liabilities Long term debt 5,721,324 5,602,698 Total Liabilities 5,899,632 5,781,006 NET FINANCIAL ASSETS (LIABILITIES)551,827 (1,529,737) NON-FINANCIAL ASSETS Tangible capital assets 66,399,718 64,432,560 Less: accumulated amortization (42,778,788) (40,311,204) 23,620,930 24,121,356 Prepaid expenses NET ASSETS 24,172,757 22,591,619 EQUITY Investment in Capital Assets 17,638,043 16,574,166 Surplus/Deficit 6,534,714 6,017,453 24,172,757$ 22,591,619$ B-7 9 Municipality of the District of Chester General Capital Fund Non-consolidated Statement of Operations March 31, 2022 2022 2021 Actual Actual Revenue Interest revenue 431$ 429$ Donations 200,000 - Capital contributions 67,990 - Gain (loss) on sale of tangible capital assets 103,843 (104,956) 372,264 (104,527) Financing and transfers Repayment of debt 1,063,877 1,788,877 Transfers to own funds, reserves 144,997 419,811 1,208,874 2,208,688 Change in fund balance 1,581,138 2,104,161 Opening fund balance 22,591,619 20,487,458 Closing fund balance 24,172,757$ 22,591,619$ B-8 10 Municipality of the District of Chester Reserve Funds Non-consolidated Statement of Financial Position March 31, 2022 2022 2021 Operating Capital Operating Capital Reserve Reserve Reserve Reserve Assets Financial assets Cash and cash equivalents 16,956,309$ 10,821,728$ 16,753,890$ 10,690,839$ Due from own funds 5,289,260 3,201,457 1,076,345 3,035 22,245,569 14,023,185 17,830,235 10,693,874 Liabilities and fund balance Due from own funds, reserves - 50,659 - - Due from General operating fund - - - 206,915 Other long term liabilities landfill - 10,151,201 - 8,028,800 Fund balance 22,245,569 3,821,324 17,830,235 2,458,159 22,245,569$ 14,023,185$ 17,830,235$ 10,693,874$ Municipality of the District of Chester Reserve Funds Non-consolidated Statement of Operations March 31, 2022 2022 2021 Operating Capital Operating Capital Reserve Reserve Reserve Reserve Revenue Interest 212,265$ 127,854$ 176,468$ 151,507$ Donations 24,663 - 9,696 - Gas tax revenue - 1,198,641 - 599,418 236,928 1,326,495 186,164 750,925 Financing and transfers Transfers (to) from own funds, reserves General operating fund (4,359,515) (2,378,180) (2,103,074) (956,384) General capital fund 181,109 221,787 455,288 1,374,250 Adjustment - (2,679) - - (4,178,406) (2,159,072) (1,647,786) 417,866 Other expenditures Other expenses - - - 25 Landfill Closure Expense 2,122,401 1,066,520 - 2,122,401 - 1,066,545 Surplus (deficit)4,415,334 1,363,166 1,833,950 (733,486) Fund balance, beginning of year 17,830,235 2,458,159 15,996,285 3,191,645 Fund balance, end of year 22,245,569$ 3,821,324$ 17,830,235$ 2,458,159$ B-9 11