Topic:"Capital Expenditures" in M03672

Town of Berwick Berwick, Nova Scotia March 31, 2010 Financial Statements

AI summary The document presents the financial statements of the Town of Berwick, dated March 31, 2010. It includes key financial data and reports on the town's financial position and performance at that time.

Consolidated Statement of Financial Activities 2010 Budget 2010 Actual 2009 Actual (Restated) (Restated) Financial Assets Cash $ 742,725 $ 848,764 Taxes receivable 51,143 72,562 Accounts receivable 799,627 772,707 Hst rebate 14,113 9,045 1...

AI summary The Consolidated Statement of Financial Activities outlines the financial position of the entity for 2010, including financial and non-financial assets, liabilities, and net assets. It presents figures for budgeted and actual amounts, as well as restated figures from 2009, highlighting changes in cash, receivables, payables, and long-term debt.

Remuneration 2010 2009 , Clerk , Mayor 2010 2009 Balance, beginning of year $ 2,049,634 $ 1,950,391 Add (Deduct): Term debt retired 68,522 68,520 Capital contribution 22,700 29,180 Disposal of capital assets 2,500 - Transfer from capital r...

AI summary The text presents a table detailing the remuneration and financial activities related to capital reserves and expenditures for the years 2009 and 2010. It includes items such as the beginning balance, capital contributions, capital expenditures, and the ending balance for each year.

Capital assets and projects in progress are recorded at the utility's gross cost. Interest incurred during construction on significant utility capital projects is capitalized. Interest is calculated at the prevailing prime rate for project...

AI summary The document outlines the accounting treatment of capital assets and projects in progress, noting that they are recorded at the utility's gross cost. Interest incurred during the construction of significant utility capital projects is capitalized at the prevailing prime rate.

5. Tangible Capital Assets Cost Opening Additions Disposals Write Downs Cost Closing Amortization Amort Accum Net Book Value General Capital Land $ 355,600 $ - $ (1,000) $ - $ 354,600 $ - $ - $ 354,600 Buildings Machinery 3,383,245 12,712...

AI summary The document provides a detailed breakdown of tangible capital assets, including land, buildings, equipment, and infrastructure, along with their costs, additions, disposals, and net book values. It also outlines amortization and accumulated depreciation for various categories of assets.

Principal repayments required during the next five years are as follows: General Electric Capital Utility Total 2011 $ 195,012 $ 85,022 $ 280,034 2012 137,019 68,022 205,041 2013 124,645 68,022 192,667 2014 124,645 68,022 192,667 2015 92,9...

AI summary The text outlines the principal repayments required for General and Electric categories across the years 2011 to 2015, detailing capital and utility amounts, with a total repayment of $1,022,316 over the five-year period.

Town of Berwick Schedule of Capital Debt Charges and Term Debt March 31, 2010 Balance April 1 Due 2009 Issue Redeemed Balance March 31 2010 Interest Interest Rate Sewer Debenture - Nova Scotia Municipal Finance Corporation 2010 $ 51,348 $...

AI summary The document presents a detailed schedule of capital debt charges and term debt for the Town of Berwick as of March 31, 2010, including various debentures issued by the Nova Scotia Municipal Finance Corporation with different maturity dates, balances, interest rates, and interest amounts.