Name of Municipality: Consolidated Financial Statements For The Year Ended December 31, 2009

NAME OF MUNICIPALITY
Consolidated Financial Statements

For the Year Ended December 31, 2009
STATEMENT OF RESPONSIBILITY
The accompanying Consolidated Financial Statements are the responsibility of the management of
the (Insert the name of the municipality) and have been prepared in compliance with legislation, and
in accordance with generally accepted accounting principles established by the Public Sector
Accounting Board of The Canadian Institute of Chartered Accountants.
In carrying out its responsibilities, management maintains appropriate systems of internal and
administrative controls designed to provide reasonable assurance that transactions are executed in
accordance with proper authorization, that assets are properly accounted for and safeguarded, and
that financial information produced is relevant and reliable.
Council of the Municipality met with management and the external auditors to review the
consolidated financial statements and discuss any significant financial reporting or internal control
matters prior to their approval of the consolidated financial statements.
(Insert name of auditors) as the Municipality's appointed external auditors, have audited the
Consolidated Financial Statements. The Auditor's report is addressed to the Mayor/Reeve and
members of Council and appears on the following page. Their opinion is based upon an examination
conducted in accordance with Canadian generally accepted auditing standards, performing such
tests and other procedures as they consider necessary to obtain reasonable assurance that the
Consolidated Financial Statements are free of material misstatement and present fairly the financial
position and results of the Municipality in accordance with Canadian generally accepted accounting
principles.
(insert name)
Chief Administrative Officer
SAMPLE AUDITOR'S REPORT

To the Mayor/Reeve and members of Council of the
We have audited the consolidated statement of financial position of the (insert name of municipality)
as of December 31, 2009 and the consolidated statement of operations, cash flows and change in
net financial assets for the year then ended. These consolidated financial statements are the
responsibility of the Municipality's management. 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. These
standards require that we plan and perform an audit to obtain reasonable assurance whether the
financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation.
In our opinion, these consolidated financial statements present fairly, in all material respects, the
financial position of the (Insert name of municipality) at December 31, 2009 and the results of its
operations and its cash flows for the year then ended in accordance with Canadian generally
accepted accounting principles.
Winnipeg, Canada
Date
Goldman, Olson, Olynyk & Donald

Chartered Accountants
Consolidated Financial Statements
For the Year Ended December 31, 2009
Consolidated Statement of Financial Position
Consolidated Statement of Operations
Consolidated Statement of Change in Net Financial Assets
Consolidated Statement of Cash Flows
Notes to the Consolidated Financial Statements
Schedule 1 - Consolidated Schedule of Tangible Capital Assets
18
Schedule 2 - Consolidated Schedule of Revenues
19
Schedule 3 - Consolidated Schedule of Expenses
20
Schedule 4 - Consolidated Statement of Operations by Program
22
Schedule 5 - Consolidated Details and Reconciliation to Core Government Results
24
Schedule 6 - Schedule of Change in Reserve Fund Balances
25
Schedule 7 - Schedule of Trust Funds
26
Schedule 8 - Schedule of Financial Position for Utilities
27
Schedule 9 - Schedule of Utility Operations
28
Schedule 10 - Reconciliation of the Financial Plan to the Budget
29
Schedule 11 - Analysis of Taxes on Roll
30
Schedule 12 - Analysis of Tax Levy
31
Schedule 13 - Analysis of School Accounts
32
Schedule 14 - Schedule of Debentures Pending
33
Schedule 15 - Schedule of L.U.D. Operations
34
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at December 31, 2009
2009
FINANCIAL ASSETS
Cash and temporary investments (Note 3)
2008
-
Amounts receivable (Note 4)
Portfolio investments (Note 5)
Loans and advances
Real estate properties held for sale
Other inventories for sale (Note 6)
Other assets
LIABILITIES
Accounts payable and accrued liabilities (Note 7)
Severance and vested sick leave payable
Deferred revenue
Landfill closure and post closure liabilities (Note 8)
Liability for remediation of contaminated site(s)
Long-term debt (Note 9)
Obligations under capital lease (Note 10)
Other liabilities
NET FINANCIAL ASSETS (NET DEBT)
NON-FINANCIAL ASSETS
Tangible capital assets (Schedule 1)
Inventories (Note 6)
Prepaid expenses
ACCUMULATED SURPLUS (DEFICIT)
COMMITMENTS AND CONTINGENCIES (NOTES 11 AND 12)

Approved on behalf of Council:
John Smith - Mayor
Paul Brown - Councillor
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31, 2009
2009
Budget
(Note 16)
REVENUE
Property taxes
Grants in lieu of taxation
User fees
Grants - Province of Manitoba
Grants - other
Permits, licences and fines
Investment income
Other revenue
Water and sewer
2009
Actual
Total revenue (Schedules 2, 4 and 5)
2008
Actual
Total expenses (Schedules 3, 4 and 5)
ANNUAL SURPLUS (DEFICIT)
ACCUMULATED SURPLUS (DEFICIT),

BEGINNING OF YEAR (Note 17)
EXPENSES
General government services
Protective services
Transportation services
Environmental health services
Public health and welfare services
Regional planning and development
Resource conservation and industrial
development
Recreation and cultural services
Water and sewer services
ACCUMULATED SURPLUS (DEFICIT),

END OF YEAR
CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETS
2009
Budget
(Note 16)
ANNUAL SURPLUS (DEFICIT)
Acquisition of tangible capital assets

Amortization of tangible capital assets
Loss (Gain) on sale of tangible capital
assets
Proceeds on sale of tangible capital
assets
Decrease (increase) in inventories
Decrease (increase) in prepaid expense
2009
Actual
2008
Actual
CHANGE IN NET FINANCIAL ASSETS
NET FINANCIAL ASSETS (NET DEBT),

BEGINNING OF YEAR
NET FINANCIAL ASSETS (NET DEBT),

END OF YEAR
CONSOLIDATED STATEMENT OF CASH FLOWS
2009
OPERATING TRANSACTIONS
Annual surplus (deficit)
Changes in non-cash items:
Amounts receivable
Inventories
Prepaids
Accounts payable and accrued liabilities
Severance and vested sick leave payable
Landfill closure and post closure liabilities
Environmental liabilities
Loss (Gain) on sale of tangible capital asset
Amortization
2008
Cash provided by operating transactions
CAPITAL TRANSACTIONS
Proceeds on sale of tangible capital assets
Cash used to acquire tangible capital assets
Cash applied to capital transactions
INVESTING TRANSACTIONS
Proceeds on sale of portfolio investments
Proceeds on sale of real estate properties
Loans and advances repaid
Purchase of portfolio investments
Acquisition of real estate properties
Loans and advances issued
Cash applied to investing transactions
FINANCING TRANSACTIONS
Proceeds of long-term debt
Debt repayment
Obligation under capital lease
Repayment of obligation under capital lease
Cash applied to financing transactions
INCREASE (DECREASE) IN CASH AND TEMPORARY

INVESTMENTS
CASH AND TEMPORARY INVESTMENTS, BEGINNING

OF YEAR
CASH AND TEMPORARY INVESTMENTS, END OF YEAR
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2009
1.
Status of the City/Town/Village/Rural Municipality of (Insert Name)

The incorporated (insert name) (the City/Town/Village/Municipality) is a municipal government that
was created on (insert year of incorporation) pursuant to the Manitoba Municipal Act. The
Municipality provides or funds municipal services such as police, fire, public works, urban planning,
airport, parks and recreation, library and other general government operations. The Municipality
owns two utilities, has several designated special purpose reserves and provides funding support
for other financial entities involved in economic development, recreation and tourism.
2.
Significant Accounting Policies

The consolidated financial statements have been prepared in accordance with Canadian generally
accepted accounting principles as recommended by the Public Sector Accounting Board (PSAB) of
the Canadian Institute of Chartered Accountants and reflect the following significant accounting
policies:
a) Reporting Entity
The consolidated financial statements include the assets, liabilities, revenues and expenses of the
reporting entity. The reporting entity is comprised of all the funds, agencies, local boards, and
committees of the Council which are controlled by the Municipality. Control is defined as the power
to govern the financial and reporting policies of another organization with the expected benefits or
risk of loss to the Municipality. The controlled organizations are consolidated after adjusting their
accounting policies to a basis consistent with the accounting policies of the municipality. Inter-fund
and inter-company balances and transactions have been eliminated. The controlled organizations
include:
(list controlled entities)

The Municipality has several partnership agreements in place, and as such, consistent with
generally accepted accounting treatment for government partnerships, the following local agencies,
boards and commissions are accounted on a proportionate consolidation basis whereby the
Municipalitys pro-rata share of each of the assets, liabilities, revenues and expenses are combined
on a line by line basis in the financial statements. Inter-company balances and transactions have
been eliminated. The government partnerships include:
(list government partnerships)
GP #1 (consolidated %) (2008 consolidated%)
The taxation with respect to the operations of the school divisions are not reflected in the Municipal
surplus of these financial statements.
Trust funds and their related operations administered by the Municipality are not consolidated in
these financial statements. The trust funds administered by the Municipality are presented in
Schedule 7 - Schedule of Trust Funds.
b) Basis of Accounting
The consolidated financial statements are prepared using the accrual basis of accounting. The
accrual basis of accounting records revenue as it is earned and measurable. Expenses are
recognized as they are incurred and measurable based upon the receipt of goods and services or
the creation of an obligation to pay.
c) Cash and Temporary Investments
Cash and temporary investments include cash and short-term investments with maturities of three
months or less from the date of acquisition.
d) Investments
Temporary investments are accounted for at the lower of cost and market.
Portfolio investments are accounted for at cost.
e) Real Estate Properties Held for Sale

Real estate properties held for sale are recorded at the lower of cost and net realizable value. Cost
includes the amount of acquisition, legal fees, and improvements to prepare the properties for sale
or servicing.
It is reasonably anticipated that real estate properties held for resale will be sold outside the
reporting entity within one year of the balance sheet date.
f) Landfill Closure and Post Closure Liabilities
The estimated cost to close and maintain solid waste landfill sites are based on estimated future
expenses, in current dollars, adjusted for estimated inflation, and are charged to expenses as the
landfill capacity is used.
g) Non-Financial Assets
Non-financial assets are not available to discharge existing liabilities and are held for use in the
provision of services. They have useful lives extending beyond the current year and are not
intended for sale in the ordinary course of operations. The change in non-financial assets during
the year, together with the excess of revenues over expenses, provides the change in net financial
assets for the year.
Real estate properties and inventories held for sale are classified as non-financial assets if it is
anticipated that the sale will not be completed within one year of the reporting date.
h) Tangible Capital Assets
Tangible capital assets are recorded at cost which includes all amounts that are directly attributable
to the acquisition, construction, development or betterment of the asset. Donated assets are
recorded at their estimated fair value upon acquisition. Certain tangible capital assets for which
historical cost information is not available have been recorded at current fair market values
discounted by a relevant inflation factor. Certain assets are disclosed at a nominal value as the
determination of current fair market value was not available. The Municipality does not capitalize
interest charges as part of the cost of its tangible capital assets.
General Tangible Capital Assets

Land
Land Improvements
Buildings and leasehold improvements
Buildings
Leasehold improvements
Vehicles and Equipment
Vehicles
Machinery, equipment and furniture
Maintenance and road construction equipment
Computer Hardware and Software
Indefinite
10 to 30 years
25 to 40 years
Life of lease
5 years
10 years
15 years
4 years
Infrastructure Assets
Transportation
Land
Road surface
Road grade
Bridges
Traffic lights and equipment
Water and Sewer
Land
Land improvements
Buildings
Underground networks
Machinery and equipment
Dams and other surface water structures
Indefinite
20 to 30 years
40 years
25 to 50 years
10 years
Indefinite
30 to 50 years
25 to 40 years
40 to 60 years
10 to 20 years
40 to 60 years
Certain assets which have historical or cultural value including works of art, historical documents as
well as historical and cultural artifacts are not recognized as tangible capital assets because a
reasonable estimate of the future benefits associated with such property cannot be made.
Intangibles, Crown lands that have not been purchased by the municipality, forests, water, and
other natural resources are not recognized as tangible capital assets.
10
i) Leases
Leases are classified as capital or operating leases. Leases which transfer substantially all of the
benefits and risks incidental to the ownership or property are accounted for as capital leases. All
other leases are accounted for as operating leases and the related lease payments are charged to
expenses as incurred.
j) Inventories
Inventories held for sale are recorded at the lower of cost and net realizable value.
Inventories held for consumption are recorded at the lower of cost and replacement value.
k) Revenue Recognition
Revenues are recognized as they are earned and measurable.
Government transfers are recognized in the financial statements in the period which the events
giving rise to the transfer occur, eligibility criteria are met, and reasonable estimates of the amount
can be made.
Deferred revenue represents user charges and other fees which have been collected, for which the
related services have yet to be provided. These amounts will be recognized as revenue in the
fiscal year the services are provided.
l) Measurement Uncertainty
Estimates are used to accrue revenues and expenses in circumstances where the actual accrued
revenues are unknown at the time the financial statements are prepared. Uncertainty in the
determination of the amount at which an item is recognized in the financial statements is known as
measurement uncertainty. Such uncertainty exists when there is a variance between the
recognized amount and another reasonable possible amount, as there is whenever estimates are
used.
Measurement uncertainty in these financial statements exists in the accrual of the landfill closure
and post closure liabilities. The accrual of the landfill liabilities is based on estimated future cash
flows discounted to the financial statement date. The estimate of the future cash flows and the
closure date of the landfill are based upon the best estimates by management. The actual future
cash flows and closure date may differ significantly.
3.
Cash and Temporary Investments

Cash and temporary investments are comprised of the following:
2009
Cash
Temporary Investments
2008
Temporary investments are comprised mainly of guaranteed investment certificates and term
deposits and have a market value approximating cost. The Municipality has designated $xxx,xxx
(2008 $xxx,xxx) to reserves for debt principal repayments and tangible capital asset acquisitions.
See Schedule 6 Schedule of Change in Reserve Fund Balances.
4.
Amounts Receivable
Amounts receivable are valued at their net realizable value.
2009
Taxes on roll (Schedule 11)
Government grants
Utility customers
Accrued interest
Organizations and individuals
Other governments
Less allowances for doubtful amounts
11
2008
12
5.
Portfolio Investments
2009
Marketable securities:
Government of Canada
Province of Manitoba
Municipal Debentures
2008
Other investments
The aggregate market value of the marketable securities at December 31, 2009 is $xxx,xxx (2008 $xxx,xxx). Portfolio investments earned $xx,xxx in investment income during the year (2008 $xx,xxx).
6.
Inventories
Inventories for sale:
2009
Clothing and sporting equipment
Food and beverages
Other
2008
Inventories for use:

2009
Chemicals, herbicides, insecticides
Fuel
Culverts
Aggregate
Other supplies
7.
2008
Accounts Payable and Accrued Liabilities

2009
Accounts payable
Accrued expenses
Accrued interest payable
School levies (Schedule 13)
Other governments
8.
2008
Landfill Closure and Post Closure Liabilities

a) Operating Landfill Site
The Municipality is currently operating a Class X landfill site in xxxx. Legislation requires closure
and post-closure care of solid waste landfill sites. Closure costs include final covering and
landscaping of the landfill and implementation of drainage and gas management plans. Post
closure care requirements include cap maintenance, groundwater monitoring, gas management
system operations, inspections and annual reports.
13
2009
Estimated closure and post closure costs
over the next xx years
2008
-
Discount rate
0.00%
Discounted costs
Expected year capacity will be reached
0.00%
$
20XX
Capacity (tonnes, volume, acreage, years):

Used to date
Remaining
Total
20XX
100
100
Percent utilized
100
100
100.00%
Liability based on percentage
100.00%
$
b) Closed Landfill Site(s)

Legislation requires the Municipality to monitor its closed landfill site(s). Post closure care
requirements include cap maintenance, groundwater monitoring, gas management system
operations, inspections and annual reports. Post closure care for the closed landfill site(s) is
estimated to be required until 20XX. Estimated post closure costs over the next XX years is
estimated to be $xx,xxx (2008 - $xx,xxx). The Municipality uses a discount rate of xx.xx% (2008 xx.xx%) to arrive at its post closure liability of $xx,xxx (2008 - $xx,xxx)
9.
Long Term Debt

2009
2008
General Authority:
Debenture, interest at X.XX%, payable at $XX,XXX annually
including interest, maturing Month X, 20XX
Debenture, interest at X.XX%, payable at $XX,XXX annually

including interest, maturing Month X, 20XX
Bank term loan, interest a X.XX%, payable at $X,XXX

monthly/semi-annually/annually including (plus) interest, maturing
Month X, 20XX.
Utility Funds:
Debenture for (name of utility), interest at X.XX%, payable at
$XX,XXX annually including interest, maturing Month X, 20XX
Debenture for (name of utility), interest at X.XX%, payable at

$XX,XXX annually including interest, maturing Month X, 20XX
Principal payments required in each of the next five years are as follows:
2010
2011
2012
2013
2014
$
$
$
$
$
14
10.
Obligation Under Capital Lease(s)

Future minimum lease payments under the capital lease together with the obligation due under the
capital lease are as follows:
2010
2011
2012
2013
2014
Remainder of lease
Total minimum lease payments
Less amount representing future interest at X.XX%

Balance of obligation
Interest expense includes $XX,XXX (2008 - $XX,XXX) with respect to this obligation.
Assets under capital lease includes vehicles, machinery and road construction equipment.
2009
Cost of leased tangible capital asset(s)
2008
-
Accumulated amortization of leased tangible capital asset(s)

$
Amortization expense includes $XX,XXX (2008 - $XX,XXX) on leased tangible capital assets.
11.
Commitments (various examples)

(Description of your municipality's commitments will have to be tailored to your circumstances.
The Municipality has outstanding contractual obligations of approximately $XXX,XXX at December
31, 2009 (2008 - $XXX,XXX) for capital works.
The Municipality has undertaken to expand the Sports Arena complex. Through its Recreation
Board, the Municipality is a party to a funding agreement with the Government of Canada for a
$X.X million (2008 - $X.X million) expansion project and has agreed to provide $X.X million (2008
- $X.X million) toward the expansion project. During the 2009 fiscal year, both parties announced
$X.X million in additional funding for the project, bringing the total funding to $X.X million.
In addition, the Municipality is leasing office space at $X,XXX per month, expiring 20XX. The
minimum lease payments to expiration are $XXX,XXX. The minimum lease payments in the next
five years are as follows:
2010
2011
2012
2013
2014
After 2014
$
$
$
$
$
$
The City of Municipality is committed to purchase gravel under existing purchase contracts. The
commitment for 2010 is $XX,XXX.
The Municipality has negotiated a non-exclusive long-term contract with Waste Management of
Canada for handling and disposal of garbage. The contract was extended to January 31, 2012.
Annual charges under the contract are determined by reference to certain waste volumes handled.
Payments made under the contract for the year 2009 were approximately $XXX,XXX (2008 $XXX,XXX).
15
12.
Contingencies (various examples)

(Description of your municipality's contingencies will have to be tailored to your circumstances in
accordance with PSAB's recommendations on contingencies.
The Municipality has not recognized a liability for certain obligations related to the special handling
for the removal and disposal of encapsulated asbestos from facilities and equipment. The fair
value of the removal and disposal costs cannot be reasonably estimated.
The Municipality owns properties that may contain environmental contamination and require site
reclamation. The amount of any such obligation has not been determined.
Various claims have been made against the Municipality as at December 31, 2009. If proven, it is
possible that these claims may have a material adverse effect on the financial position of the
Municipality. The Municipality is disputing the claims and as the outcome is not determinable at this
time, no amount has been accrued in the financial statements.
Lawsuits have been filed against the municipality for incidents which arose in the ordinary course of
operations. In the opinion of management and legal counsel, the outcome of the lawsuits, now
pending, is not determinable. Should any loss result from the resolution of these claims, such loss
will be charged to operations in the year of resolution.
The City has unconditionally guaranteed the payment of principal and interest on capital
improvement loans for several organizations. The outstanding balance on these loans as at
December 31, 2009 is $75,000 (2008 - $73,000).
13.
Retirement Benefits
The majority of the employees of the Municipality are members of the Municipal Employees Benefit
Program (MEBP), which is a multi-employer defined benefit pension plan. MEBP members will
receive benefits based on 1.5% of their final average yearly Canada Pension Plan (CPP) earnings
times years of service, plus 2% of their final average yearly non-CPP earnings times years of
service. The cost of the retirement plan are not allocated to the individual entities within the related
group. As a result, individual entities within the related group are not able to identify their share of
the underlying assets and liabilities. Therefore, the plan is accounted for as a defined contribution
plan in accordance with the requirements of the Canadian Institute of Chartered Accountants
Handbook section PS3250.
Pension assets consist of investment grade securities. Market and credit risk on these securities
are managed by MEBP by placing plan assets in trust and through MEBP investment policy.
Pension expense is based on MEBP managements best estimates. In consultation with its
actuaries, the MEBP requires that employees contribute 5.3% of basic annual earnings up to the
CPP ceiling plus 6.5% of basic annual earnings in excess of the CPP ceiling. The employers are
required to match the employee contributions to the MEBP. The required contributions provide a
high level of assurance that benefits, as provided by MEBP, will be fully represented by fund assets
at retirement.
Variance between actuarial funding estimates and actual expenditures may be material and any
differences are generally to be funded by the participating members. The most recent actuarial
valuation as of December 31, 2008 indicates the plan is fully funded. Actual contributions to MEBP
made during the year by the Municipality on behalf of its employees amounted to $xx,xxx (2008 $xx,xxx) and are included in the statement of operations.
14.
Financial Instruments
The Municipality as part of its operations carries a number of financial instruments. It is
managements opinion the Municipality is not exposed to significant interest, currency or credit risk
arising from these financial instruments, except as otherwise disclosed. Unless otherwise noted,
the fair value of these financial instruments approximates their carrying values.
15.
Subsequent Events (various examples)

(Description of your municipality's subsequent events will have to be tailored to your circumstances.
Subsequent to the year-end, the Fire Services District entered into an agreement to purchase a
new fire truck in the amount of $xxx,xxx. The Municipalitys share of the cost (XX%) for the new fire
truck would be $xxx,xxx. The councils of the Municipality and Town have approved the purchase.
16
Subsequent to the year-end, the Municipality contracted for construction work with respect to a new
police building of approximately $xxx,xxx. This project is to be financed by reserve funds and long
term debt.
16.
Budget
The financial plan is prepared on a revenue and expenditure basis. For comparative purposes, the
Municipality has modified its financial plan to prepare a budget that is consistent with the scope and
accounting principles used to report the actual results. The budget figures used in these financial
statements have been approved by council.
The reconciliation between the financial plan and the budget figures used in these statements is
disclosed in Schedule 10 - Reconciliation of the Financial Plan to the Budget.
17.
Changes in Accounting Policies

The Municipality has restated its financial statements to comply with the adoption of generally
accepted accounting principles as recommended by the Public Sector Accounting Board (PSAB).
Section PS3150 requires governments to record and amortize their tangible capital assets on their
financial statements. In addition, leases, which substantially transfer all of the risks and benefits of
ownership to the government, should be treated as capital leases.
PS3270 requires governments to accrue their landfill closure and post closure costs as the landfill
is used. In accordance with PSAB's recommendations on liabilities and contingent liabilities the
Municipality has for the first time recorded the cost of remediation for contaminated sites.
Finally, PSAB also requires that the government reporting entity include all the organizations
controlled by the government. PSAB also requires governments to account for government
partnerships on a proportional consolidation basis whereby the government consolidates their prorata share of the partnerships assets, liabilities, revenues and expenses.
2009
Opening fund balances:
Nominal Surplus - General Operating Fund
General Reserve Funds
Surplus - General Capital Fund
Nominal Surplus - Utility Operating Fund
Utility Reserve Funds
Surplus - Utility Capital Fund
Local Urban District - Deferred Revenue
Opening accumulated surplus, all funds, as previously reported
Adjustments:
Tangible capital assets
Fixed assets in the capital funds
Obligation for capital lease(s)
Landfill closure and post closure liabilities
Environmental liabilities
Opening non-consolidated accumulated surplus, restated
Consolidation of controlled entities and government partnerships

Opening consolidated accumulated surplus, as restated
2008
Consolidated annual surplus
Consolidated accumulated surplus, end of year
17
18.
Public Sector Compensation Disclosure

It is a requirement of the Public Sector Compensation Disclosure Act that annual public disclosure
be made of aggregate compensation paid to members of council, and of individual compensation in
an amount exceeding $50,000 annually to any member of council, officer or employee of the
Municipality. For the year ended December 31, 2009:
a) Compensation paid to members of council amounted to $xx,xxx in aggregate.
b) There were no members of council receiving compensation in excess of $50,000 individually.
Council Members:
Compensation
Mayor/Reeve - Name
Councillor - Name
Councillor - Name
Councillor - Name
Councillor - Name
Councillor - Name
Expenses
Total
c) The following officers received compensation in excess of $50,000:

Name
Position
Name
Name
Name
Name
Name
Name
Name
Name
19.
Amount
Position
Position
Position
Position
Position
Position
Position
Position
$
$
$
$
$
$
$
$
Public Utilities Board

The Public Utilities Board (PUB) regulates the rates charged by all water and sewer utilities, except
the City of Winnipeg utility and those utilities operated by the Manitoba Water Services Board. PUB
has the authority to order any owner of a utility to adopt uniform and prescribed accounting policies.
PUB's prescribed accounting policies on tangible capital assets and government transfers do not
meet the recommendations of PSAB.
For information purposes, the Municipality has deferred the capital grants it has received in the past
for its utilities and amortized them over the useful life of the related tangible capital asset.
No capital grants have been deferred and amortized in these financial statements.
Water services:
Description of Utility
Utility #1
Utility #2
Utility #3
Utility #4
Unamortized
Opening
Balance
Additions
During Year
Amortization
During Year
Unamortized
Balance
Ending
Sewer services:
Description of Utility
Utility #1
Utility #2
Utility #3
Utility #4
Unamortized
Opening
Balance
Additions
During Year
$
18
Amortization
During Year
Unamortized
Balance
Ending
SCHEDULE 1
CONSOLIDATED SCHEDULE OF TANGIBLE CAPITAL ASSETS
General Capital Assets
Buildings
and
Vehicles
Leasehold
and
Improvements
Equipment
Land and Land

Improvements
Infrastructure
Computer
Hardware
and
Software
Asset
Under
Construction
Roads, Streets,
and
Bridges
Totals
Water
and
Sewer
Assets
Under
Construction
2009
2008
Cost
Opening costs
Additions during the year
Disposals and write downs
Closing costs
Opening accum'd amortization
Amortization
Disposals and write downs
Closing accum'd amortization
Net Book Value of

Tangible Capital Assets
Accumulated Amortization
Water and sewer underground networks contributed to the Municipality totals $XXX,XXX and were capitalized at their fair value at the time of their receipt.
The Municipality has XXX km of roads that are capitalized at a nominal value of $X,XXX,XXX.
18
SCHEDULE 2
CONSOLIDATED SCHEDULE OF REVENUES
2009
Actual
Property taxes:
Municipal taxes levied (Schedule 12)
Taxes added
Penalties and interest
Grants in lieu of taxation:

Federal government
Federal government enterprises
Provincial government
Provincial government enterprises
Other local governments
Non-government organizations
2008
Actual
Water and sewer (Schedule 9)
Total revenue
User fees
Parking meters
Sales of service
Sales of goods
Rentals
Development charges
Facility use fees
General assistance payment
General support grant
VLT revenues
Conditional grants
Grants - other
Federal government - gas tax funding
Federal government - other
Other local governments
Permits
Licences
Aggregate mining and transportation fees
Fines
Investment income:
Cash and temporary investments
Marketable securities
Municipal debentures
Other (specify):
Other revenue:
Gain on sale of tangible capital assets
Gain on sale of real estate held for sale
Miscellaneous (specify):
19
SCHEDULE 3
CONSOLIDATED SCHEDULE OF EXPENSES
2009
Actual
General government services:
Legislative
General administrative
Other
Protective services:
Police
Fire
Emergency measures
Other protection
Transportation services:
Road transport
Administration and engineering
Road and street maintenance
Bridge maintenance
Sidewalk and boulevard maintenance
Street lighting
Other
Air transport
Public transit
Environmental health services:
Waste collection and disposal
Recycling
Other
Public health and welfare services:
Public health
Medical care
Hospital care
Social assistance
Planning and zoning
Urban renewal
Beautification and land rehabilitation
Urban area weed control
Other
Resource conservation and industrial development
Rural area weed control
Drainage of land
Veterinary services
Water resources and conservation
Regional development
Industrial development
Tourism
Other
Sub-totals forward
20
2008
Actual
Sub-totals forward
Water and sewer services (Schedule 9)
Total expenses
Recreation and cultural services:

Administration
Community centers and halls
Swimming pools and beaches
Golf courses
Skating and curling rinks
Parks and playgrounds
Other recreational facilities
Museums
Libraries
Other cultural facilities
21
SCHEDULE 4
CONSOLIDATED STATEMENT OF OPERATIONS BY PROGRAM
General
Government*
2009
2008
REVENUE
Property taxes
User fees
Prov of MB - Unconditional Grants
Prov of MB - Conditional Grants
Grants - other
Investment income
Other revenue
Water and sewer
Protective
Services
2009
2008
Transportation
Services
2009
2008
Environmental Health
Services
2009
2008
Public Health and

Welfare Services
2009
2008
-# $
##
##
##
##
##
##
##
##
-
-# $
Total expenses
Surplus (Deficit)
Total revenue
EXPENSES
Personnel services
Contract services
Utilities
Maintenance materials and supplies
Grants and contributions
Amortization
Interest on long term debt
Other
* The general government category includes revenues and expenses that cannot be attributed to a particular sector.
22
SCHEDULE 4
CONSOLIDATED STATEMENT OF OPERATIONS BY PROGRAM
Regional Planning
and Development
2009
2008
REVENUE
Property taxes
User fees
Grants - other
Investment income
Other revenue
Water and sewer
Resource Conservation
and Industrial Dev
2009
2008
Recreation and
Cultural Services
2009
2008
Water and
Sewer Services
2009
2008
-# $
##
##
##
##
##
##
##
-
-# $
Total expenses
Surplus (Deficit)
Total revenue
EXPENSES
Personnel services
Contract services
Utilities
Amortization
Other
23
###
$
-
Total
2009
2008
SCHEDULE 5
CONSOLIDATED DETAILS AND RECONCILIATION TO CORE GOVERNMENT RESULTS
Core
Government
2009
REVENUE
Property taxes
User fees
Grants - other
Investment income
Other revenue
Water and sewer
Controlled
Entities
2008
2009
Government
Partnerships
2009
2008
2008
Total
2009
2008
Total expenses
Surplus (Deficit)
Total revenue
EXPENSES
Personnel services
Contract services
Utilities
Amortization
Other
24
SCHEDULE 6
SCHEDULE OF CHANGE IN RESERVE FUND BALANCES
Name of
Reserve
REVENUE
Investment income
Other income
Name of
Reserve
2009
Name of
Reserve
Name of
Reserve
2008
Name of
Reserve
Name of
Reserve
Total
Total
Total revenue
EXPENSES
Investment charges
Other expenses
Total expenses
NET REVENUES
TRANSFERS
Debt repayments
Transfers from (to) operating fund
Transfers from (to) utility fund
Acquisition of tangible capital assets
CHANGE IN RESERVE FUND BALANCES
FUND SURPLUS, BEGINNING OF YEAR
FUND SURPLUS, END OF YEAR
25
SCHEDULE 7
SCHEDULE OF TRUST FUNDS
Name of
Trust
ASSETS
Portfolio investments
Other
$
LIABILITIES AND FUND BALANCES
Due to Municipality
Fund balance
$
$
REVENUES
Contributions and donations
Investment income
EXPENDITURES
Cemetery maintenance
Distribution to beneficiaries
Other
EXCESS OF REVENUES OVER
EXPENDITURES
FUND BALANCE, BEGINNING OF YEAR
FUND BALANCE, END OF YEAR
Name of
Trust
-
Name of
Trust
-
Name of
Trust
-
Name of
Trust
-
Name of
Trust
-
Total
2009
-
2008
-
26
SCHEDULE 8
SCHEDULE OF FINANCIAL POSITION FOR UTILITIES
Name of
Utility
FINANCIAL ASSETS
Amounts receivable
Portfolio investments
Other
LIABILITIES
Accounts payable and accrued liabilities
Deferred revenue
Long-term debt (Note 9)
Other
Name of
Utility
NON-FINANCIAL ASSETS
Tangible capital assets (Schedule 1)
Inventories
Prepaid expenses
Name of
Utility
Name of
Utility
Total
Total
FUND SURPLUS (DEFICIT)
Name of
Utility
2008
NET FINANCIAL ASSETS (NET DEBT)
2009
Name of
Utility
COMMITMENTS AND CONTINGENCIES (Notes 11 and 12)

27
SCHEDULE 9
SCHEDULE OF UTILITY OPERATIONS - Name of Utility
2009
Budget
REVENUE
Water fees
Sewer fees
Property taxes
Bulk Water fees
Lagoon tipping fees
Hydrant rentals
Connection charges
Penalties
Government transfers - operating
Government transfers - capital
Investment income
Administration fees
Other income
Total revenue
EXPENSES
General
Administration
Training costs
Billing and collection
Utilities (telephone, electricity, etc.)
sub-total- general
Water
Purification and treatment
Transmission and distribution
Water purchases
Connection costs
Amortization
sub-total- water
Sewer
Collection system costs
Treatment and disposal cost
Lift Station costs
Water purchases
Connection costs
Amortization
sub-total- sewer
2009
Actual
-
2008
Actual
-
Total expenses
NET REVENUES
TRANSFERS
Transfers from (to) reserve funds
CHANGE IN UTILITY FUND BALANCE
FUND SURPLUS, BEGINNING OF YEAR
FUND SURPLUS, END OF YEAR
28
SCHEDULE 10
RECONCILIATION OF THE FINANCIAL PLAN TO THE BUDGET
Financial Plan
General
REVENUE
Property taxes
User fees
Grants - other
Investment income
Other revenue
Water and sewer
Transfers from accumulated surplus
Transfers from reserves
Total revenue
EXPENSES
General government services
Protective services
Environmental health services
Public health and welfare services
Resource cons and industrial dev
Water and sewer services
Fiscal services:
Transfer to capital
Debt charges
Short term interest
Transfer to reserves
Allowance for tax assets
Total expenses
Surplus (Deficit)
Financial Plan
Utility(ies)
Amortization
(TCA)
Interest
Expense
29
Long Term
Accruals
Transfers
-
Consolidated
Entities
-
PSAB
Budget
SCHEDULE 11
ANALYSIS OF TAXES ON ROLL
2009
Balance, beginning of year

Add:
Tax levy (Schedule 12)
Taxes added
Penalties or interest
Other accounts added
Tax Adjustments (specify)
Tax Adjustments (specify)
2008
Sub-total
Deduct:
Cash collections - current
Cash collections - arrears
Writeoffs
Title value of land sales
Title value of tax titles acquired
Tax discounts
M.P.T.C. - cash advance
Other credits (specify)
Sub-total
Balance, end of year
30
SCHEDULE 12
ANALYSIS OF TAX LEVY
2009
Assessment
Mill Rate
Other governments (L.U.D.):

Name of LUD
Name of LUD
Name of LUD
0.000%
0.000%
0.000%
Debt charges:
Frontage
LI.D.
Other (specify)
0.000%
0.000%
0.000%
Deferred surplus
Reserves:
Name of reserve
Name of reserve
Name of reserve
2008
Levy
Levy
0.000%
0.000%
0.000%
Special levies:
Name of special levy
0.000%
0.000%
0.000%
Business tax (rate%)
0.000%
Total municipal taxes (Schedule 2)

Education support levy
0.000%
Special levy:
Name of school division
0.000%
0.000%
0.000%
Total education taxes

Total tax levy (Schedule 11)
31
SCHEDULE 13
ANALYSIS OF SCHOOL ACCOUNTS
2009
Opening
Balance
Education support levy
Current
Requirement
-
Current
Payment
-
2008
Ending
Balance
Ending
Balance
-
Special levies
School division
School division
School division
School division
School division
School division
School division
Sub-total
Total
32
SCHEDULE 14
SCHEDULE OF DEBENTURES PENDING
Authority
Purpose
Source of Funds
Authorized
Expended
SCHEDULE 15
SCHEDULE OF L.U.D. OPERATIONS - Name of L.U.D.
2009
Budget
Revenue
Taxation
Other Revenue
2009
Actual
Total revenue
2008
Actual
Transportation Services
Road and street maintenance
Bridge maintenance
Sidewalk and boulevard maintenance
Street lighting
Other
Environmental health
Waste collection and disposal
Recycling
Other

Planning and zoning
Urban renewal
Beautification and land rehabilitation
Urban area weed control
Other

Community centers and halls
Swimming pools and beaches
Golf courses
Skating and curling rinks
Parks and playgrounds
Other recreational facilities
Museums
Libraries
Other cultural facilities
Total expenses
Net revenues (expenses)
Transfers:
Transfers from (to) L.U.D. reserves
Other
Change in L.U.D. balances
Unexpended balance, beginning of year
Unexpended balance, end of year
Expenses
General Government:
Indemnities
34

Name of Municipality: Consolidated Financial Statements For The Year Ended December 31, 2009

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Name of Municipality: Consolidated Financial Statements For The Year Ended December 31, 2009

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NAME OF MUNICIPALITY

Consolidated Financial Statements

SAMPLE AUDITOR'S REPORT

Goldman, Olson, Olynyk & Donald

Consolidated Statement of Operations

Consolidated Statement of Change in Net Financial Assets

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Schedule 1 - Consolidated Schedule of Tangible Capital Assets

Schedule 2 - Consolidated Schedule of Revenues

Schedule 3 - Consolidated Schedule of Expenses

Schedule 4 - Consolidated Statement of Operations by Program

Schedule 5 - Consolidated Details and Reconciliation to Core Government Results

Schedule 6 - Schedule of Change in Reserve Fund Balances

Schedule 7 - Schedule of Trust Funds

Schedule 8 - Schedule of Financial Position for Utilities

Schedule 9 - Schedule of Utility Operations

Schedule 10 - Reconciliation of the Financial Plan to the Budget

Schedule 11 - Analysis of Taxes on Roll

Schedule 12 - Analysis of Tax Levy

Schedule 13 - Analysis of School Accounts

Schedule 14 - Schedule of Debentures Pending

Schedule 15 - Schedule of L.U.D. Operations

Amounts receivable (Note 4)

Portfolio investments (Note 5)

Loans and advances

Real estate properties held for sale

Other inventories for sale (Note 6)

Severance and vested sick leave payable

Landfill closure and post closure liabilities (Note 8)

Liability for remediation of contaminated site(s)

Long-term debt (Note 9)

Obligations under capital lease (Note 10)

NET FINANCIAL ASSETS (NET DEBT)

ACCUMULATED SURPLUS (DEFICIT)

COMMITMENTS AND CONTINGENCIES (NOTES 11 AND 12)

John Smith - Mayor

Paul Brown - Councillor

Total revenue (Schedules 2, 4 and 5)

Total expenses (Schedules 3, 4 and 5)

ANNUAL SURPLUS (DEFICIT)

ACCUMULATED SURPLUS (DEFICIT),

ACCUMULATED SURPLUS (DEFICIT),

Acquisition of tangible capital assets

CHANGE IN NET FINANCIAL ASSETS

NET FINANCIAL ASSETS (NET DEBT),

NET FINANCIAL ASSETS (NET DEBT),

Cash provided by operating transactions

Cash applied to capital transactions

Cash applied to investing transactions

Cash applied to financing transactions

INCREASE (DECREASE) IN CASH AND TEMPORARY

CASH AND TEMPORARY INVESTMENTS, BEGINNING

Status of the City/Town/Village/Rural Municipality of (Insert Name)

Significant Accounting Policies

(list controlled entities)

e) Real Estate Properties Held for Sale

General Tangible Capital Assets

Cash and Temporary Investments

Less allowances for doubtful amounts

Inventories for use:

Accounts Payable and Accrued Liabilities

Landfill Closure and Post Closure Liabilities