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HomeMy WebLinkAboutThe Lucknow Sentinel, 1974-03-27, Page 17PAO SEVENTEEN OLIVET Paula. and Larry Hoffman of Lucknow visited for a 'few days last week with Mr. and Mrs. Ray Hamilton and family and Mrs. W. R. Hamilton. Miss May White of Woodstock spent a few days visiting with her parents Mr. and Mrs. 'Oscar White. Mrs. Ray Hamilton and Wendy, Larry and.Paula' Hoffman, and Mrs. Jack McGuire and Brian visited on Saturday with Mr. and Mrs. David Icing and Pamela of God each Mr. and Mrs. Gerald Coiling and• fa mily visited for the week end With. Mr. and Mrs. Ronnie Nicholson and family of Preston. Mr. and Mrs. Oscar White and May and Mr. Mahendra Jain of Ingersoll were guests at the Jur - jens - Van Darn wedding on Sat- urday in the Christian Reformed Church, Lucknow. Miss. Nancy McGuire returned . home on S9nday evening after spending a week, in sunny Flor- ida. Town .14, Country Had .St Patrick's Night ( 'a 1973 ced capital outlay (Unexpected capital financing) !ginning of the year nil outlay governnient tin to persons and property 4 455 [tabor' services 40,478 on,and community services 11,141 s to others 687 indicate that fanners will likely be given an increase, but they re- fuse too say how a $2.00 increase would be split between in- creased subsidies and increased retail costs" . We're waiting to see, and we hope the consumer is watching too. Roy Atkinson, N.F.U. presid- :21.512A11:24-11252_ ` _i 27th, 1974 The CorporatiOn Of The Village Of tucknow Auditor's Report and Financial Statements THE LUCKNOW SENTINEL, LUCKNOW, ONTARIO itITHE YEAR ENDED DECEMBER 31, 1973 Auditor's Report The Members of Council and Ratepayers of the Corporation of the )ge of Lucknow I have examined the 1973 financial statements of the Corporation be Village of Lucknow and its • local boards, which are listed on attached Index. My examination included a general review of the oa dog procedures and such tests of accounting records and other . forting evidence as I considered necessary in the circumstances. In my opinion these financial statements present fairly the fin- d position the Corporation of the Village of 'Lucknow and its I boards as at December 31st, 1973 and the results of their oper- Is for the year then ended; in accordance with accounting prin- generally accepted for Ontario municipalities applied on a basis is with that of the preceding. year. (Signed) A. M. Harper - Goderich, Ontario " -,- February 15, 1974 ice Number 4440 r. lenient of Revenue and Expenditure for the year ended Deecember 31, 1973 1973 1972 uilated net revenue (deficit) at ginning of the year -)--- $ 7,484 $ 6,597. diture • • d government 16,336 15,415 lion to persons and property 11,998 10,310 elation services , 25,991 ' 33,996 mot services 5,284 3,546 vation of health . 1,028 &in and community services 11,976 9,106 ial expenses . ' 1,344 • 2,071 or. county - share of expenditure 16,297 23,043 ion 47,056 53,251 . ($139,310) '($150,738), ip o • '$ '95,629 $123,676 utions from other governments ' 36,748 21,609 3,513 ° 6,340 • $135,890. ,$151,625 dated net revenue (deficit) at of the year l revenue $4,064 . $7A84. ement of Capital Fund Operations for the year ended December 31,' 1973 1972 $52,761 $30,970 Making m liabilities incurred 29,000 lions from other governments 39,673 dons from the revenue, fund 5,082 2,970 ($44,755) ed capital outlay (unexpected capital financing) the end of the year $ 8,006 N.F.U. NEWS AND VIEWS By May WilkinS t is fast approaching it the prorrkise of an in- price to the .know , by experience , •that no way are they going to receive this is being quoted 'but dairy farmers two-dollar increase. This was Milk shipper. This is ftuther proven that such will be hat goes into the man- the case this time., in the 'news re- if cheese, butter and • port in the London Free Press on powder, Saturday , March 23rd. collar a •hundred increase I quote "Agricultural officials $', 4,064 '7,484 4,064 . 7.484 nil 6970 24,000 ($30,970) Nil COnsolidate4 Balance Sheet as at December 31, 1973. ASSETS Curren/. Assets Cash Accounts receivable Taxes, receivable Capital outlay to be recovered in future years $. 7,916 39,209 6,826 $ 9,105 10,334 6,278 $53,951 $25,717, 65,606 74,161 $119,557 $99,878 1973 • 1972 LIABILITIES Current liabilities Temporary loans Accounts payable and accrued liiabilities 11,215 Other current liabilities 1,032 $47,143 $7,483 Net long term liabilities 57,6.00 74,161 Reserves and reserve funds 10,750 $10,750 $34,896 7,447 36. Accumulated net revenue (deficit) and unapplied capital , receipts 4,064 7,484 amm,No $119,507 $ 99,878 5. LIABILITY FOR VESTED SICK LEAVE BENEFITS Under the sick leave benefit plan, 'unused sick leave can accumulate and employees may become entitled to a cash pay- ment when they leave the municipality's employment. The liability for these accumulated days, to the extent that they have vested and could be taken in cash by an employee on terminating, amounted to Nil at the end of • the year. 1. . CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS Some capital outlay does not represent a burden on general municipal revenues, as it is to be recovered in future yers from other sources: Municipal enterprises $27,300 Of the total charges shown above, $15,644 was paid 'from the revenue of the municipality and is included in expenditure, classified under the appropriate functional headings, and $5,934 was recovered from the Lucknow Water System for which the related net long term liability was incurred. BASIS OF CONSOLIDATION The Consolidated Balance Sheet reflects the assets and liabilities of the revenue fund and the capital fund of the municipality. The assets) and liabilities of the local boards have not been con- solidated. • NET LONG TERM LIABILITIES Total long term liabilities incurred by. the municipality and, outstanding at the end of the year amount to, . . $108,600 Of the long term liabilities shown above, the/responsibility for payment of principal and interest charges has been assumed by the Bruce County Board of Education for a principal amount 'of 51,000 Net long term liabilities at the end of the year $57,600 CHARGES FOR NET LONG TERM LIABILITIES Total charges for the year for net long term liabilities were as follows: Principal payments Interest Notes lo Financial Statements ent, has described The new Beef Subsidy Program as basically posi- tive. He called upon the federal governnient, however ,,to apply corrective action if needed to , make sure the objectivet of the program are not frustrated.' The packing companies, he.said, should be required to make a corn- mitment to maintain and strength- eh basic Market prices. $27,300 $16,561 • 5;017 $21,578 The Town and Country Club celebrated St. Patrick1 $ Night , opening with 0 Canadaffollowed by the "The Senior Citizen's Theme Song." A Splendid crowd of members and friends were wel- comed' by the President Aubrey Higgins. P. A. •-Murray was chairman for, the evening for the following pro- gram -1 musical selections on guitar and saxaphone by Cyril Brown, accompanied on the piano by Mrs. Brown; an Irish reading by Brother Carl; the Drennan trio, Jennifer, Paul and Shawn delight- ed the audience, with musical numbers, 'Jennifer sang accompan- ied by Paul and Shawn on the guitar; solo by Eugene Frayne accompanied by his daughter. Miss Mary Frayne; Mrs. Philip Stewart • favoured with a solo "Danny Boy';' a delightful leading by Mrs. P. A. Murray , followed by Irish numbers by Walter Dexter. - The Drennan \Trio favoured , again with several numbers, which were enjoyed very much. Mr. Frayne and daughter were welcom- ed again to the platform and sang more Irish numbers and Mr. Frayne ended' with a beautiful renditon of "How Great Thou• Art". The.Browns again entertained With musical selections and com- munity singing and a reading by P. A. Murray. The program ended with two contests, conducted by Mrs. Wilfred Drennan and Mrs. P. A. Murray. Winner of the Potato contest was Mrs. brennan's group. Winner of the Shamrock contest was Lorne Farrish. Committee in 'charge of this • program was Mr. and Mrs. Wil- fred Drennan and Mr. and Mrs. P. A. Murray. • After lunch was, served we were. favoured With Orchestral Music by the Swan, family and Basil Hogan, which was enjoyed very much 'by the danders and those who listened,to the muSic. , This was the third program 'arranged by the club's program 'committee for the Town and Country Club, a Scottish prog-. ram .to celebrate Bobby Burti's Night and a Valentine program and social evening.