HomeMy Public PortalAbout2018-03-31_Report_Consolidated Financial Statements Consolidated Financial Statements
Municipality of the District of Chester
March 31, 2018
Contents
Page
Consolidated Financial Statements
Municipality of the District of Chester
Management's Responsibility Statement 1
Independent Auditor's Report 2 - 3
Consolidated Statement of Operations 4
Consolidated Statement of Change in Net Assets (Debt) 5
Consolidated Statement of Financial Position 6
Consolidated Statement of Cash Flows 7
Notes to the Consolidated Financial Statements 8 - 22
Schedules to Consolidated Statement of Operations 23 - 28
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Audit • Tax • Advisory 2 Grant Thornton LLP. A Canadian Member of Grant Thornton International Ltd
Independent auditor’s report
To the Council of the Municipality of the District of Chester
We have audited the accompanying consolidated financial statements of Municipality of the
District of Chester, which comprise the consolidated statement of financial position as at
March 31, 2018, and the consolidated statements of operations, changes in net debt, and cash
flow for the year then ended, and a summary of significant accounting policies and other
explanatory information.
Management’s responsibility for the 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
financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on
our audit. We conducted our audit in accordance with Canadian generally accepted auditing
standards. Those standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation and fair presentation of the
consolidated financial statements 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
entity’s internal control. An audit also includes evaluating the appropriateness of accounting
Audit • Tax • Advisory 3
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policies used and the reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
Opinion
In our opinion, the consolidated financial statements present fairly, in all material respects, the
consolidated financial position of the Municipality of the District of Chester as at March 31,
2018, and the consolidated results of its operations, changes in net debt, and its cash flows for
the year then ended in accordance with Canadian public sector accounting standards.
Other Matters
Our audit was conducted for the purposes of forming an opinion on the financial statements
taken as a whole. The Supplementary schedules on pages 23 – 28 are presented for purposes of
additional information and are not a required part of the financial statements. Such information
has been subject to the auditing procedures applied, only to the extent necessary to express an
opinion, in the audit of the financial statements taken as a whole.
Bridgewater, Canada Chartered Professional Accountants September 27, 2018 Licensed Public Accountants
Municipality of the District of Chester
Consolidated Statement of Operations
Year Ended March 31 2018 2017
Page Budget Actual Actual
Revenue
Taxes 23 $ 11,567,475 $ 11,514,147 $ 10,919,846
Grants in lieu of taxes 24 167,796 173,355 173,713
Sales of services 24 3,979,094 4,119,031 4,567,150
Other revenue from own sources 24 789,938 627,736 645,251
Transfers from Federal and Provincial
governments and agencies
Unconditional 24 75,923 102,693 116,865
Conditional 25 7,500 41,831 111,262
Grants for capital projects 25 2,952,772 3,590,352 679,608
Interest 8,500 194,135 156,375
Gain on disposal of assets - 6,542 -
$ 19,548,998 $ 20,369,822 $ 17,370,070
Expenditures
General government services 26 $ 3,809,976 $ 3,372,755 $ 3,358,133
Protective services 27 2,656,554 2,493,269 2,398,401
Transportation services 27 903,207 765,547 802,361
Environmental health services 27 5,643,094 5,498,344 6,081,881
Environmental development services 27 1,380,744 1,157,664 1,174,752
Recreational and cultural services 28 933,859 811,272 858,306
Loss on disposal of assets - - 341,614
$ 15,327,434 $ 14,098,851 $ 15,015,448
Annual surplus $ 4,221,564 $ 6,270,971 $ 2,354,622
Accumulated surplus, beginning of the year 22,452,974 20,098,352
Accumulated surplus, end of the year $ 28,723,945 $22,452,974
See accompanying notes and schedules to the consolidated financial statements.
4
Municipality of the District of Chester
Consolidated Statement of Change in Net Assets (Debt)
Year Ended March 31 2018 2017
Budget Actual Actual
Annual Surplus $ 4,221,564 $ 6,270,971 $ 2,354,622
Acquisition of tangible capital assets (9,027,100) (7,112,698) (1,131,374)
Write off of tangible capital assets - 34,000 341,614
Amortization of tangible capital assets 2,489,220 2,276,617 2,357,166
(2,316,316) 1,468,890 3,922,028
Decrease in other non-financial assets - 10,259 -
(Increase) decrease in prepaid expense - (155,272) 72,767
Increase in net assets (2,316,316) 1,323,877 3,994,795
Net assets (debt)
Beginning of year 1,509,802 1,509,802 (2,484,993)
End of year $ (806,514) $ 2,833,679 $ 1,509,802
See accompanying notes and schedules to the consolidated financial statements.
5
Municipality of the District of Chester
Consolidated Statement of Cash Flows
Year Ended March 31 2018 2017
Operating activities
Net revenue $ 6,270,971 $ 2,354,622
Amortization 2,276,617 2,357,166
Write off of tangible capital assets 34,000 341,614
8,581,588 5,053,402
Changes in non-cash working capital
Increase in receivables (1,216,011) (707,220)
(Increase) decrease in prepaid expenses (155,272) 72,767
Increase in other non-financial assets 10,259 -
Increase (decrease) in payables 90,331 (460,165)
(Decrease) Increase in employee future benefits (7,795) 1,327
Increase in deferred revenue 47,563 8,900
Increase (decrease) in tax sale surplus 50,530 (5,380)
Increase in landfill closure costs 730,234 1,411,434
8,131,427 5,375,065
Capital transactions
Acquisition of tangible capital assets (7,112,698) (1,131,374)
(7,112,698) (1,131,374)
Financing activities
Proceeds from issuance of short term debt
Capital asset loans 2,592,000 -
Proceeds from issuance of long term debt
Capital asset loans - 521,000
Repayment of short term debt
Capital asset loans - (450,738)
Repayment of long term debt
Capital asset loans (1,437,833) (1,653,733)
On behalf of other local governments
1,154,167 (1,583,471)
Change in net cash and cash equivalents 2,172,896 2,660,220
Cash and cash equivalents
Beginning of year 15,507,929 12,847,709
End of year $ 17,680,825 $ 15,507,929
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, 2018
1. Significant accounting policies
a) Reporting entity
b) Basis of accounting
c) Valuation allowance
d) Cash and cash equivalents
e) Use of estimates
f) Landfill closure costs
g) Contaminated sites
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, 2018 there are no known contaminated sites identified.
8
The consolidated financial statements of the Municipality of the District of Chester are prepared by management in accordance with
Canadian Public Sector Accounting Standards. Significant aspects of the accounting policies adopted by the Municipality are as follows:
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 entities are the general operating fund,
general capital fund, operating reserve fund and the capital reserve fund.
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.
The Municipality provides a valuation allowance for estimated losses that will be incurred in collecting receivables outstanding.
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.
The presentation of financial statements, in conformity with Canadian Public Sector Accounting Standards, 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. Actual results could differ from those
reported.
Landfill closure and post closure costs are recognized as the landfill site's capacity is used. Usage is measured based on tonnes of waste
added to the site. Landfill closure and post closure costs are discounted using the Municipality's average rate earned on funds invested for
future landfill closure and post-closure expenses.
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:
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
1. Significant accounting policies (continued)
h) Revenue and expenditure
Tax and Related Revenue
Government Transfers
Other Revenues
i) Tangible capital assets
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
j) Related party transactions
k) Contractual rights
k) Inter-entity transactions
9
Other revenues are recognized as services or goods are provided, the exchange amount is measurable and collectibility of the amount is
reasonably assured.
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:
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.
Effective for the fiscal period beginning April 1, 2017, the Municipality was required to adopt Public Sector Accounting section 2200, related
party transactions, which establishes the disclosure requirements for the reporting of related party transactions. Management has
determined that there are no transactions to disclose at this time.
Effective for the fiscal period beginning April 1, 2017, the Municipality was required to adopt Public Sector Accounting Section 3380,
contractual rights, which establishes the disclosure requirements for contractual rights. Management has determined that there are no
contractual rights to disclose at this time.
Effective for the fiscal period beginning April 1, 2017, the Municipality was required to adopt Public Sector Accounting Section 3420, inter-
entity transactions, which establishes how to account for an report transactions between public sector entities that comprise a government's
reporting entity from both a provider and recipient perspective. Management has determined that there are no inter-entity transactions to
disclosure at this time.
Property tax billings are prepared by the Municipality based on assessment rolls issued by the Property Valuation Services Corporation.
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.
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.
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 reasurable as a result of legal obligation to pay.
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
2. Contributions to Boards and Commissions
The Municipality of the District of Chester, along with other municipal units in Lunenburg County, is required to
finance the operations of various boards and regional authorities.
Lunenburg County Regional Housing Authority
11.00% interest in Western Shore Unit
11.00% interest in New Ross Unit
During 2018, the Municipality incurred costs payable of $17,105 (2017 - $16,685) to the Lunenburg County Regional
Housing Authority as its share of operations.
South Shore Regional Library board - 17.94% interest
During 2018, the Municipality paid $68,715 (2017 - $68,035) to the South Shore Regional Library Board.
Regional Economic Network
During 2018, the Municipality paid $45,794 (2017 - $45,794) to the Regional Economic Network.
3. Contributions to Provincial Government Departments & Agencies
The Municipality of the District of Chester, 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
During 2018, the Municipality paid $234,641 (2017 - $235,698) as its share of operations towards corrections
facilities in Lunenburg County.
Education Contribution
The required contribution to the South Shore Regional School Board is calculated using the mandatory municipal
education rate (set by the Minister of Education) times the Municipality's uniform assessment. For 2018 the
education tax rate of $.30480 (2017 - $.30480) per $100 of uniform assessment times the uniform assessment of
$1,524,133,103 (2017 - $1,509,852,243) for a total amount paid of $4,645,558 (2017 - $4,602,030).
Assessment Services Contribution
The required contribution for assessment services is calculated first using an amount, set by the Property
Valuation Services Corporation (PVSC), to be recovered from all municipal units for 2018 $17,176,240 (2017
- $17,090,000). 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 2018
the Municipality paid $340,281 (2017 - $340,514) to the PVSC for assessment services.
4. Cash and cash equivalents
The Cash and cash equivalents amount on the Statement of Financial Position includes portfolio investments as follows:
Operating Capital Reserves 2018 2017
Cash $ 1,057,071 $ 50,670 $ 4,555,684 $5,663,425 $ 3,908,886
Short term investments (GICs) - - 12,017,400 12,017,400 11,599,043 $1,057,071 $50,670 $16,573,084 $17,680,825 $15,507,929
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 9.
Operating Capital Reserves 2018 2017
Gas tax grant program $ - $ - $ 1,865,563 $1,865,563 $1,326,855
Tax sale surplus account 182,019 - - 182,019 181,953
Landfill closure costs - - 7,019,356 7,019,356 4,888,463
Unrestricted cash 875,052 $ 50,670 7,688,165 8,613,887 9,110,658
$1,057,071 $50,670 $16,573,084 $17,680,825 $15,507,929
10
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
5. Receivables
2018 2017
Taxes receivable - rate roll:Current 2016
Year 2017 and Prior Total Total
Balance,
beginning of year $- $ 816,616 $ 537,481 $ 1,354,097 $ 1,185,222
Collections for other
governments 1,582,531 - - 1,582,531 1,455,441
Current year's levy 14,702,415 - - 14,702,415 13,787,526
16,284,946 816,616 537,481 17,639,043 16,428,189
Deduct
Current year's
collections 15,184,223 517,587 346,270 16,048,080 14,830,024
Reduced taxes 272,072 - - 272,072 234,840
Write-offs - - - - 9,228
15,456,295 517,587 346,270 16,320,152 15,074,092
Balance,
end of year
$828,651 $299,029 $191,211 1,318,891 1,354,097
Allowance for uncollectible taxes & unresolved assessments (66,829) (76,073)
Allowance for other doubtful accounts (35,849) (27,230)
Taxes receivable - interest 113,773 144,344
Billing receivable - water utility (42) (42)
HST receivable 209,869 81,405
Due from Provincial Government 1,331,386 109,384
Due from (to) other local governments 984,144 1,139,979
Landfill receivable 544,575 387,580
Other 207,766 278,229 Balance, end of year $ 4,607,684 $3,391,673
Included in other receivables is a loan receivable in the amounts of $34,000 (2017 - $34,000) and $34,700 (2017 - $70,800)
receivable from the residents serviced by the former Mill Cove Water Utility and the Aspotogan Heritage Trust respectively. The
amounts receivable are for construction of private wells as agreed upon on the decommissioning of the Mill Cove Water Utility.
The amount is scheduled to be repaid by residents over the next year through collection of area rates and over the next
year from the Aspotogan Heritage Trust.
11
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
6. Employee Future Benefits - Non-Vested Sick Leave Benefits
The Municipality of the District of Chester provides non-vested sick leave benefits to Municipal employees. Municipal employees
are allowed to accumulate unused sick day credits each year, up to the allowable maximum. 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. The use of
accumulated sick days for sick leave compensation ceases on termination of employment. The benefit costs and liabilities
related to the plan are included in the consolidated financial statements. The most recent actuarial valuation was conducted
on July 12, 2017.
The Municipality has provided non-vested sick leave benefits as follows:
2018 2017
Accrued benefit liability
Accrued benefit obligation, beginning of the year $ 248,333 $ 247,006
Current service cost for the year 8,854 14,958
Interest cost for the year 3,689 6,115
Amortization of experience gains - -
Fiscal payments for employees (20,338) (19,746)
Accrued benefit obligation 240,538 248,333
Unamortized Actuarial losses (gains)(91,749) (98,302)
Accrued benefit obligation $ 148,789 $150,031
Employee future benefits, non-vested sick leave benefits
Current service costs $8,854 $ 14,958
Interest cost for the year 3,689 6,115
$12,543 $21,073
The significant actuarial assumptions adopted in measuring the Municipalitiy's non-vested sick leave benefits
are as follows:
Discount rate 2.5%
Retirement age at age 65
Rate of compensation increase 3.0%
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 spending criteria and stipulations that result in a liability, are recorded in deferred revenue until these
funds are spent on eligible expenditures.
2018 2017
Prepayment of Taxes $ 187,682 $ 131,804
Other deferred revenue 163,569 171,884
Total Deferred Revenue $ 351,251 $303,688
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Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
8. Tax sale surplus account
The Municipality of the District of Chester 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. There is no tax sale surplus from the 1997-98 fiscal year that needs to be transferred to the
Capital Reserve Fund in the 2017-18 fiscal year. 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:
2018 2017
1999 $ 4,224 $ 4,224
2000 1,024 1,024
2001 2,010 2,010
2003 8,396 8,396
2005 8,267 8,267
2011 20,717 20,717
2012 10,040 10,040
2014 59,147 59,147
2015 1,000 1,000
2016 43,877 65,484
2018 72,071 -
accumulated interest 856 790
$ 231,629 $181,099
9. Long term debt 2018 2017
Capital asset loans
$ 65,332 $ 97,998
500,000 562,500
450,000 500,000
493,614 557,398
118,400 177,600
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Municipal Finance Corporation debenture, bearing interest from 5.01% - 5.480%, repayable in annual
instalments of $63,784 plus interest, 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 4.388% - 4.889%, repayable in annual
instalments of $59,200 plus interest, maturing in 2020. The original debenture of $592,000 was taken
out in 2009 for environmental health and transportation services use.
Municipal Finance Corporation debenture, bearing interest from 5.65% - 5.75%, repayable in annual
instalments of $32,667 plus interest, maturing in 2020. The original debenture of $490,000 was taken
out in 2004 for Recreation and Culture use.
Municipal Finance Corporation debenture, bearing interest from 4.645% - 4.83%, repayable in annual
instalments of $62,500 plus interest, maturing in 2021. The original debenture of $1,250,000 was
taken out in 2006 for environmental health services use.
Municipal Finance Corporation debenture, bearing interest from 4.45% - 4.590%, repayable in annual
instalments of $50,000 plus interest, maturing in 2022. The original debenture of $1,000,000 was
taken out in 2007 for environmental health services use.
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
9. Long term debt (continued)
315,000 378,000
339,900 453,550
3,014,001 3,344,334
1,800,000 2,400,000
458,300 521,000
$ 7,554,547 $8,992,380
Principal repayments during the next five years are due as follows:
2019 $ 1,437,833
2020 $ 1,369,433
2021 $ 1,495,067
2022 $ 770,067
2023 $ 448,867
All long term debt outstanding at year end has been properly authorized by Service Nova Scotia and Municipal
Relations.
Interest expensed on long term debt during the year was $247,104 (2017 - $266,298).
14
Municipal Finance Corporation debenture, bearing interest from 1.62% - 3.792%, repayable in annual
instalments of $330,333 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.
Municipal Finance Corporation debenture, bearing interest from 1.192% - 1.833%, repayable in annual
instalments of $600,000 plus interest, maturing in 2021. The original debenture of $3,000,000 was
taken out in 2016 for environmental health.
Municipal Finance Corporation debenture, bearing interest from 1.15% - 2.925%, repayable in annual
instalments of $62,700 plus interest, maturing in 2026. The original debenture of $521,000 was taken
out in 2016 for environmental health.
Municipal Finance Corporation debenture, bearing interest from 2.558% - 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 1.845% - 2.979%, repayable in annual
instalments of $113,650 plus interest, maturing in 2024. The original debenture of $794,500 was taken
out in 2013 for environmental health services use.
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
10. Tangible capital assets Opening Cost Additions Disposals Transfers Ending Cost
Buildings - Plants $ 7,997,350 $ 22,920 $ - $ - $ 8,020,270
Electronic Data Equipment 1,098,312 19,921 - - 1,118,233
Lagoons 113,516 - - - 113,516
Land 1,696,461 979,259 (1,380) - 2,674,340
Land Improvements 2,117,903 38,760 - - 2,156,663
Landfill 11,855,785 2,593,104 - 58,373 14,507,262
Machinery and Equipment 3,303,140 471,034 (162,599) 92,964 3,704,539
Municipal Buildings 3,028,038 199,643 - - 3,227,681
Sewer Lines 7,354,625 31,237 - - 7,385,862
Sidewalks 2,702,359 - - - 2,702,359
Small Equipment 309,170 17,691 - - 326,861
Streets, Roads & Curbs 5,977,973 - - - 5,977,973
Vehicles 440,855 63,832 - - 504,687
Wharves 191,210 10,489 - 42,770 244,469
Wind Turbine 5,123,893 - - - 5,123,893
Work in Progress 381,323 2,664,808 - (194,107) 2,852,024
$53,691,913 $7,112,698 $(163,979) $- $60,640,632
Opening Amortization Ending
Accumulated During Amortization Accumulated
Amortization the Year on Disposals Amortization
Buildings - Plants $ 5,119,992 $ 247,246 $ - $ 5,367,238
Electronic Data Equipment 812,430 112,099 - 924,529
Lagoons 22,704 11,352 - 34,056
Land - - - -
Land Improvements 1,043,580 109,976 - 1,153,556
Landfill 10,245,052 768,939 - 11,013,991
Machinery and Equipment 2,596,276 197,804 (129,979) 2,664,101
Municipal Buildings 1,211,728 81,107 - 1,292,835
Sewer Lines 5,264,613 146,321 - 5,410,934
Sidewalks 1,338,971 105,270 - 1,444,241
Small Equipment 288,806 11,397 - 300,203
Streets, Roads & Curbs 3,594,932 175,299 - 3,770,231
Vehicles 359,811 43,635 - 403,446
Wharves 100,999 9,779 - 110,778
Wind Turbines 788,328 256,393 - 1,044,721
$32,788,222 $2,276,617 $(129,979) $34,934,860
NBV 2018 NBV 2017
Buildings - Plants $ 2,653,032 $ 2,877,358
Electronic Data Equipment 193,704 285,882
Lagoons 79,460 90,812
Land 2,674,340 1,696,461
Land Improvements 1,003,107 1,074,323
Landfill 3,493,271 1,610,733
Machinery and Equipment 1,040,438 706,864
Municipal Buildings 1,934,846 1,816,310
Sewer Lines 1,974,928 2,090,012
Sidewalks 1,258,118 1,363,388
Small Equipment 26,658 20,364
Streets, Roads & Curbs 2,207,742 2,383,041
Vehicles 101,241 81,044
Wharves 133,691 90,211
Wind Turbines 4,079,172 4,335,565
Work in Progress 2,852,024 381,323
$ 25,705,772 $20,903,691
15
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
11. Financial Instruments
Financial instruments are any contract that gives rise to financial assets of one entity and financial liabilities of another entity.
Financial assets represent a contractual right to receive cash, or assets that can be used to discharge liabilities, in the future
Financial liabilities represent a contractual obligation to deliver cash, or another financial asset, in the future. The Municipality
of the District of Chester's financial assets include cash and cash equivalents, portfolio investments and receivables. The
Municipality's financial liabilities include payables and accruals and long term debt.
Risk Management
The Municipality is exposed to a number of risks as a result of the financial instruments in its Statement of Financial Position
that can affect its operating performance. These risks include interest rate risk, market risk, credit risk, liquidity risk and
foreign exchange risk.
Interest rate risk
Interest rate risk is the risk relating to fluctuating changes in the market interest rate impacting the value of financial instruments.
For financing the Municipality does not have any variable interest rate debt as all long term debt has fixed rates. Therefore,
interest rate fluctuations has no effect until such time as the debt is refinanced. Note 10 describes future debt principal repayments.
For portfolio investments the Municipality mitigates risk by diversification with multiple short term fixed rate guaranteed
investment certificates.
Market risk
Market risk is the risk that the fair value of a financial instrument will fluctuate as a result of changes in market prices. The
Municipality's objective places greater relevant importance to the preservation of capital that a competive return on portfolio
investments which is why cash is invested in GICs.
Credit risk
The Muncipality is exposed to credit risk with respect to accounts receivable and loans receivable as described in Note 6.
The Municipality has a credit monitoring process to mitigate potential credit risks and maintains provisions for potential
credit losses that are assessed on an ongoing basis.
Liquidity risk
The Municipality has contractual obligations and financial liabilities, therefore, is exposed to liquidity risk. The Municipality
monitors its liquidity risk by updating and reviewing mutli-year cash flow projections on a regular and as needed basis,
and by matching its long term financing arrangements with its cash flow needs.
Foreign exchange risk
Foreign exchange risk arises on financial instrucments that are denominated in a foreign currency. The Muncipality's
exposure is minor as it only occassionally makes payments denominated in foreign currencies and the amounts are small.
Capital management
The Municpality's capital management focus is on ensuring liquid resources are available for operations. This objective
is considered by the Municipality in the preparation of the annual budget, in the monitoring of cash flows and in the
monitoring of actual results compared to budget. As of March 31, 2018, the Municipality has met its objective of
having sufficient liquid resources to meet its current obligations.
16
Municipality of the District of ChesterNotes to the Consolidated Financial StatementsMarch 31, 201812. Accumulated SurplusOperatingCapitalReserves20182017Accumulated Surplus, beginning of the year $ 2,721,716 $ 9,671,204 $ 10,060,054 $22,452,974$ 20,098,352 Financial activitiesRevenue (fund transfer)Capital grants and donations - 2,975,541 - 2,975,541 - Interest revenue 31,714 - 162,421 194,135 157,275 Other revenue 17,191,754 6,542 1,850 17,200,14617,212,795 Transfers between funds (3,358,050) 928,446 2,429,604 - - 13,865,418 3,910,529 2,593,875 20,369,82217,370,070 ExpendituresCapital asset write off - - - - 341,614 Landfill closure costs - - 730,234 730,234 1,411,435 Repayment of debt principal 1,437,833 - - 1,437,833 1,653,733 Capital funded out of revenue 397,141 - - 397,141 1,131,374 Other expenditures 11,092,000 - - 11,092,00010,905,233 12,926,974 - 730,234 13,657,20815,443,389 Annual surplus before PSA adjustments 938,444 3,910,529 1,863,641 6,712,614 1,926,681 Public sector accounting (PSA) standards adjustmentsEliminate (add) expenses to comply with PSA standards Amortization of capital assets (2,276,617) - - (2,276,617)(2,357,166) Repayment of debt principal - 1,437,833 - 1,437,833 1,653,733 Capital additions funded out of revenue - 397,141 - 397,141 1,131,374 Annual surplus (deficit) (1,338,173) 5,745,503 1,863,641 6,270,971 2,354,622 Accumulated Surplus, end of the year$ 1,383,543 $ 15,416,707 $ 11,923,695$ 28,723,945$ 22,452,974Financial positionCash $ 1,057,071 $ 50,670 $ 16,573,084 $ 17,680,825$ 15,507,875 Receivables 3,367,035 1,240,649 4,607,684 3,391,673 Due from (to) own funds (936,988) (1,417,137) 2,354,125 - - 3,487,118 (125,818) 18,927,209 22,288,50918,899,548 Short term borrowings - 2,592,000 - 2,592,000 - Other liabilities i.e. payables and accruals 1,953,518 - - 1,953,518 1,820,398 Deferred revenue 334,551 16,700 - 351,251 303,688 Landfill closure liability - - 7,003,514 7,003,514 6,273,280 Long term debt - 7,554,547 - 7,554,547 8,992,380 2,288,069 10,163,247 7,003,514 19,454,83017,389,746 Net assets (debt) 1,199,049 (10,289,065) 11,923,695 2,833,679 1,509,802 Non-financial assets 184,494 25,705,772 - 25,890,26620,943,172 Accumulated Surplus$ 1,383,543 $ 15,416,707 $ 11,923,695$ 28,723,945$ 22,452,97417
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
13. District School Board
On January 31, 1982, the Municipality of the District of Chester joined with the other Municipality
and Towns of Lunenburg County to form the South Shore District School Board. 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 District School Board until such time as the Board no longer requires the asset for school purposes. At that
time, control will revert to the Municipality. The South Shore District School Board was subsequently amalgamated
with other boards to become the South Shore Regional School Board. In 2018 all Nova Scotia school boards
were amalgamated into one, the NS Education Common Services Bureau.
14. Pension plans
Defined Contribution Plan
The Municipality of the District of Chester 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 Standard Life Assurance Company on behalf of the Municipality.
Contributions to this plan are shared by the Municipality and its employees with both contributing 6% of
base salary. During the year the Municipality contributed $163,878 (2017 - $165,230) to the pension plan.
15. 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 June 2016 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 are $15,766,900 when site capacity
is completely utilized. The total liability recognized to date of $7,003,514 (2017- $6,273,280) is based on the capacity of the site
utilized to date. The remaining $8,763,386 will be recognized as the landfill capacity is utilized each year.
The estimated remaining capacity of the site is 311,515 tonnes which is currently expected to be filled over the
next 7 years.
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 recongnized each year. The total amount for landfill closure costs in reserve is $7,003,514
(2017 - $6,273,280).
The estimated time for post closure care is 30 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 financial statements.
18
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
16. Commitments
Solid Waste - Sales of Services
The Municipality of the District of Chester has contractually entered into agreements with the Valley Region Solid
Waste Authority for the next 19 years, and the Town of Lunenburg and the Lunenburg Regional Solid Waste
Management Committee for the next 9 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.
In order to fulfill the terms associated with these arrangements it is estimated the Municipality will be required to
complete construction of three solid waste cells for the duration of the agreements.
Solid Waste - Processing of Waste Agreement
In August 2016 the Municipality of the District of Chester 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 August 2014, the Municipality signed a contract for waste collection services with a 5 year term expiring
in March 2019. A one year extension was signed in May 2018 expiring in March 2020. Total payments remaining
over the next two years amount to $733,374 plus HST per year.
17. Remuneration
The Municipality is required by legislation to disclose the remuneration paid to each council member and the chief administrative officer.
2018 2017
Councilor Remuneration Mileage Expenses Total Total
Brad Armstrong $ - $ - $ - $ - 11,429
Danielle Barkhouse 18,920 113 5,121 24,154 9,929
Sharon Church 18,920 617 2,235 21,772 24,706
Tina Connors 18,920 3,506 1,742 24,168 25,440
Robert Myra - - - - 1,704
Abdella Assaff 18,920 920 2,369 22,209 8,783
Floyd Shatford 21,623 2,103 4,828 28,554 24,029
Andre Veinotte 6,307 - 1,688 7,995 22,581
Allen Webber 39,868 449 8,648 48,965 47,009
Marshall Hector 10,354 832 2,500 13,686 -
Staff
Tammy Wilson 129,471 1,431 28,427 159,329 172,732
$283,303 $9,971 $57,558 $350,832 348,342
Expenses include remuneration benefits (i.e. CPP, group insurance), conferences, meals, accomodations cell phone, and ipad.
19
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
18. Segmented Information
The Municipality of the District of Chester 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.
20
Municipality of the District of ChesterNotes to the Consolidated Financial StatementsMarch 31, 201818. Segmented Information (continued)RecreationGeneral Environmental Environmental and Government Protective Transportation Health Development Culture 20182017Services Services Services Services Services Services ConsolidatedConsolidatedRevenueTaxes$7,851,600 $267,191 $249,611 $2,482,643 $663,102 $‐ $11,514,147 $ 10,919,846 Grants in lieu of taxes 168,345 5,010 ‐ ‐ ‐ ‐ 173,355 173,713 Sales of Services ‐ 24,693 ‐ 3,108,852 881,978 103,508 4,119,031 4,567,150 Other revenue from own sources 218,047 28,924 9,490 305,228 66,047 ‐ 627,736 645,251 Unconditional transfers fromother governments6,783 ‐ ‐ 95,910 ‐ ‐ 102,693 116,865 Conditional transfers from other governments3,041 4,767 ‐ ‐ ‐ 34,023 41,831 111,262 Grants for capital projects592,539 ‐ ‐ 1,991,850 ‐ 1,005,963 3,590,352 679,608 Interest194,135 ‐ ‐ ‐ ‐ ‐ 194,135 156,375 Gain on disposal of capital assets 6,542 ‐ ‐ ‐ ‐ ‐ 6,542 ‐ 9,041,032 330,585 259,101 7,984,483 1,611,127 1,143,494 20,369,822 17,370,070 ExpendituresSalaries and benefits1,679,868 258,610 10,199 956,160 488,773 452,063 3,845,673 3,769,679 Goods and services663,026 2,234,659 508,105 2,945,590 264,553 199,198 6,815,131 7,287,537 Gov't transfers & board contributions408,996 ‐ ‐ ‐ ‐ ‐ 408,996 407,548 Amortization185,878 ‐ 238,268 1,447,234 298,593 106,644 2,276,617 2,357,166 Interest2,728 ‐ 8,975 149,360 89,239 4,663 254,965 274,747 Other432,259 ‐ ‐ ‐ 16,506 48,704 497,469 918,771 3,372,755 2,493,269 765,547 5,498,344 1,157,664 811,272 14,098,851 15,015,448 Annual surplus $ 5,668,277 $ (2,162,684) $ (506,446) $ 2,486,139 $ 453,463 $ 332,222 $6,270,971 $ 2,354,622 Supplementary InformationAdd BackAmortization$ 185,878 $ ‐ $ 238,268 $ 1,447,234 $ 298,593 $ 106,644 $2,276,617 $2,357,166 LessDebenture Principle Payments(16,000) ‐ (67,198) (1,086,636) (235,333) (32,666) (1,437,833) (1,653,733) Transfers to Reserves(1,317,782) ‐ (328,866) (1,107,799) (34,404) (2,788,851) (3,741,555) Segment Surplus (Deficit)$4,520,373 $ (2,162,684) $ (335,376) $ 2,517,871 $ (591,076) $ 371,796 $4,320,904 $ (683,500) 21
Municipality of the District of Chester
Notes to the Consolidated Financial Statements
March 31, 2018
19. Loan guarantees
The Municipality has guaranteed a loan for the Hubbards and District Fire Commission for the purchase of a
fire vehicle in the amount of $350,000.
The balance outstanding as of March 31, 2018 is $58,284 (2017 - $87,870). Interest is calculated at prime and
principal payments are $29,586 per year. The loan matures on June 4, 2019.
20. Contingency
The Municipality is required to comply with new environmental legislation related to waste water treatment. As a result
the Municipality is required to complete upgrades to their current waste water treatment system over the next 3 years.
Currently the Municipality has not entered into any contracts to complete the necessary upgrades. Internal engineering
staff have estimated that the costs to be incurred over the next three years will be approximately $2,300,000.
21. Comparative figures
Certain of the 2018 comparative figures have been reclassified to conform to the financial statement presentation
adopted for the current year.
22. Budgeted figures
Budgeted figures have been provided for comparison purposes and have been derived from the estimates
approved by the Council of the Municipality of the District of Chester.
22
Municipality of the District of Chester
Schedules to Consolidated Statement of Operations
Year Ended March 31 2018 2017
REVENUE Budget Actual Actual
Taxes
Residential assessable property $ 10,006,960 $ 9,960,730 $ 9,472,450
Commercial based taxable assessments 1,397,526 1,379,092 1,347,645
Resource
Taxable assessments 299,846 306,473 293,024
Non-profit acreage 4,360 4,360 4,360
Forest property tax (less than
50,000 acres)27,351 27,323 27,334
Forest property tax (50,000 acres
or more)8,590 8,590 8,590
340,147 346,746 333,308
Area rates
Protective services 283,445 283,593 277,110
Transportation services 253,472 249,611 238,035
Environmental Health services 2,526,172 2,482,643 2,289,923
3,063,089 3,015,847 2,805,068
Business property
Based on revenue (Aliant)49,067 48,870 49,067
NS Power HST rebate 67,783 49,513 67,783
116,850 98,383 116,850
Deed Transfer tax 880,000 963,953 1,048,655
Wind Farm Developer tax 663,102 663,102 656,574
Transfers and collections for other governments
Collection - other governments 1,501,418 1,582,531 1,455,441
Transfers to local fire commissions (1,501,418) (1,598,933) (1,461,732)
- (16,402) (6,291)
16,467,674 16,411,451 15,774,259
Education mandatory contribution (Note 3)(4,645,558) (4,645,558) (4,602,030)
Correction services (Note 3) (234,641) (234,641) (235,698)
Regional Housing Authority (Note 2) (20,000) (17,105) (16,685)
(4,900,199) (4,897,304) (4,854,413)
$ 11,567,475 $ 11,514,147 $ 10,919,846
23
See accompanying notes and schedules to the consolidated financial statements.
Municipality of the District of Chester
Schedules to Consolidated Statement of Operations
Year Ended March 31 2018 2017
Grants in lieu of taxes
Federal government $ 51,689 $ 50,145 $ 51,686
Provincial government
Real property 54,042 58,101 56,596
Crown timberland 34,176 32,381 33,342
Fire protection 360 5,010 5,249
Conservation 7,000 6,814 6,311
147,267 152,451 153,184
Provincial government agencies
NS Power Incorporated 20,529 20,904 20,529
$ 167,796 $ 173,355 $ 173,713
Sales of services
General government services - election $- $ - $ 20,637
Animal control fees - other local govt 33,000 33,358 -
Waste Collection fees - other local governments 3,045,478 3,075,494 3,631,534
Planning services - other local governments 53,826 47,485 46,921
Building/fire inspection services - other local gov't 11,914 22,160 21,897
Recreation and cultural services 85,450 77,237 82,991
FHCS 27,300 26,271 30,813
REMO - other local governments 2,476 2,533 2,503
Wind Energy 719,650 834,493 729,854
$ 3,979,094 $ 4,119,031 $ 4,567,150
Other revenue from own sources
Administrative services $ 162,825 $ 218,047 $ 223,389
Transportation services 9,414 9,490 16,237
Building inspection services 18,000 25,655 25,206
Animal control services 2,125 3,269 2,564
Sewer hookup services 500 8,014 17,420
Solid waste & disposal services 571,820 297,214 329,699
Planning services 20,254 41,783 25,682
Industrial park services 5,000 24,264 5,054
$ 789,938 $ 627,736 $ 645,251
Unconditional transfers from
Federal and Provincial governments
and agencies
Provincial government
Service Nova Scotia
Assessment Act - farm acreage $ 6,736 $ 6,783 $ 6,736
Recycling projects 69,187 95,910 110,129
$ 75,923 $ 102,693 $ 116,865
24
See accompanying notes and schedules to the consolidated financial statements.
Municipality of the District of Chester
Schedules to Consolidated Statement of Operations
Year Ended March 31 2018 2017
Conditional transfers from Federal
and Provincial governments and agencies
Federal government
Employment grants $ 3,000 $ 3,041 $ 2,996
Provincial government
Emergency measures 4,500 4,767 4,767
Recreation - 34,023 94,490
Employment grants - - 9,009
$ 7,500 $ 41,831 $ 111,262
Grants for Capital Projects
Infrastructure grant $ 2,282,200 $ 1,947,952 $-
Gas tax grant 589,372 592,539 589,371
PCAP grant 30,600 17,417 54,237
SNSMR grant 34,600 22,272 18,000
Local government - 26,481 -
Local agencies grant 16,000 - 18,000
Donated property - 983,691 -
$ 2,952,772 $ 3,590,352 $ 679,608
25
See accompanying notes and schedules to the consolidated financial statements.
Municipality of the District of Chester
Schedules to Consolidated Statement of Operations
Year Ended March 31 2018 2017
EXPENDITURES
Budget Actual Actual
General government services
Legislative
Council/committee remuneration $ 154,904 $ 157,849 $ 150,726
Administrative expenses 81,215 72,662 64,266
Grants to organizations 341,000 158,928 267,929
Elections 19,000 3,647 57,452
596,119 393,086 540,373
CAO/Clerk administrative
Administration salaries 425,833 405,883 365,582
Administrative expenses 137,065 116,156 113,790
Town crier 500 - -
Surveys/appraisals 2,000 2,346 1,043
Newsletter/promotions 23,300 10,154 10,985
Joint occupational health and safety 20,000 968 8,188
Health & wellness 68,711 69,335 4,521
677,409 604,842 504,109
Finance/property tax administrative
Administration salaries 346,154 346,663 343,360
Administrative expenses 213,484 167,830 188,092
Auditor services 40,000 39,964 44,899
Property tax administration 284,850 305,580 275,919
884,488 860,037 852,270
Information services administrative
Administration salaries 227,869 224,792 218,369
Administrative expenses 240,796 168,653 195,723
Debenture interest 2,729 2,729 2,992
471,394 396,174 417,084
Municipal property services
Salaries 90,130 98,822 74,693
Administrative expenses 47,370 43,600 36,006
Property services 221,100 122,793 114,662
Wharves 8,500 4,041 5,415
Community Development 18,000 17,310 7,687
385,100 286,566 238,463
Public works general
Salaries 151,680 152,775 142,040
Administrative expenses 69,000 46,706 56,005
Special Projects 36,200 37,694 23,733
256,880 237,175 221,778
Other general government services
Assessment recovery costs 340,514 340,282 340,514
Regional library 70,437 68,715 68,035
Depreciation 127,635 185,878 175,507
538,586 594,875 584,056
$ 3,809,976 $ 3,372,755 $ 3,358,133
26
See accompanying notes and schedules to the consolidated financial statements.
Municipality of the District of Chester
Schedules to Consolidated Statement of Operations
Year Ended March 31 2018 2017
Budget Actual Actual
Protective services
Police services $ 1,821,679 $ 1,802,146 $ 1,742,347
Legal prosecution services 5,000 10,987 7,725
By-law enforcement 35,156 12,810 18,185
Animal control 76,800 63,626 67,440
Emergency measures 39,614 33,097 45,010
1,978,249 1,922,666 1,880,707
Fire services
Fire coordinator/advisory 92,542 59,891 101,807
Fire protection agreement 242,463 246,304 153,761
Fire rescue boat 12,145 16,493 12,129
347,150 322,688 267,697
Building/fire inspections
Salaries 245,050 185,160 196,798
Administrative expenses 86,105 62,755 53,199
331,155 247,915 249,997
$ 2,656,554 $ 2,493,269 $ 2,398,401
Transportation services
Road transport
Administration $ 21,380 $ 12,407 $ 17,390
Road and sidewalk maintenance 534,103 399,782 423,508
Street lighting 109,611 106,115 108,995
Debenture interest 9,263 8,975 14,200
Depreciation 228,850 238,268 238,268
$ 903,207 $ 765,547 $ 802,361
Environmental health services
Sewage collection and disposal $ 548,280 $ 546,127 $ 482,804
Waste collection and disposal 3,133,436 3,305,105 3,841,440
Recycling project 63,313 50,518 50,991
Debenture interest 151,500 149,360 156,026
Depreciation 1,746,565 1,447,234 1,550,620
$ 5,643,094 $ 5,498,344 $ 6,081,881
Environmental development services
Planning and zoning $ 627,694 $ 503,357 $ 501,013
Economic Development 178,194 97,445 103,166
Tourism development 48,000 41,650 50,777
Eco Park 21,488 16,363 14,987
Regional economic network 45,794 45,794 45,794
Wind Turbine 78,890 65,224 75,261
Debenture interest 89,239 89,238 91,801
Depreciation 291,445 298,593 291,953
$ 1,380,744 $ 1,157,664 $ 1,174,752
27
See accompanying notes and schedules to the consolidated financial statements.
Municipality of the District of Chester
Schedules to Consolidated Statement of Operations
Year Ended March 31 2018 2017
Recreational and cultural services
Administration $ 631,676 $ 582,857 $ 634,721
Program expenses 39,700 38,200 36,372
Church Memorial Park 50,000 - -
Parks & trails 76,000 23,652 39,188
Heritage properties 500 - -
Debenture interest 4,663 4,663 5,949
Forest Heights Community School 36,595 37,275 41,258
After school programs - 17,981 -
Depreciation 94,725 106,644 100,818
$ 933,859 $ 811,272 $ 858,306
28
See accompanying notes and schedules to the consolidated financial statements.