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Home My WebLink AboutThe Lucknow Sentinel, 1974-07-24, Page 13. UTW113r11N yr Rinloss Auditor's Report and Financial Statements. . 01THE`yEAR ENDED. -DECEMBER, 31st, 1973 Auditor's Report Statement of Ca ital F , ' p and -Operations Thee,,Mof boos Council; and Ratepayers of the.Corporation,of the for the'year,ended December 31,'1973 6-s P 1972 cumulated net revenue (deficit) at, I have examined the 1973 financial. statements of the Corpora- Barrow race, lst Bruce. Johnstone 1973 1972 of the Township of Kinloss, which are listed on the attached Index. included a general review of . the accounting proced= Unfinanced,capital outlay. (Unexpended 'capital P p' al financing) the eRamination tests of accounting records and other supporting evi-� at beginning of the year ....... , .......................... Nil P and such as I considered .necessary in the circumstances. Capital Outlay , 12,299 ,ce opinion these financial statements present fairly the C my P Protection -to. ersons and property ................. Transportation services' .....:..................... ..... 818 8,1$6 P P ial position of the Corporation, of the Township of Kinloss as at anc' 31st, 1973, and the results of its operations for the ear. ..... ............. Environmental services ..................:.. ..... Conservation of health ....... 4,000. 1,252 685 tember in accordance . with accounting principles generally, ac-_ ended, . , , for Ontario municipalities applied on a basis consistent with .......................... Recreation and community services ... ............. Transfers to others 1603 , ted It of the preceding year. ............:.................................. 2,900 3,800 (Signed) A.M. Harper 7,308 $ 18,112 $ 5,052 y - Goderich, Ontario' to _ April 19, 1974 w dace Number wement, of Revenue and Expendtiure for the year ended December 31, 1973 Ralph and Barry Morrison. Shoe �� Johnstone 1973 1972 cumulated net revenue (deficit) at, ads Blake Picnic Barrow race, lst Bruce. Johnstone ;beginning of the year................................a."..........$(5,793) and Bev Blake, 2nd Ralph and $(1 172 .01ture held Sunday, July 14th. in Strati and Roger Morrison. Balloon neral government :......... ........................................... 12,387' . 12,299 Jecdon to persons and property..... ............ 4,905 4,191 *rtation services .............. I ... I ................................... 126,345 110,077 vironmental services':.........:......:.................................. 5,882 4,186 gervation of health ................... .............:................:.... 725' 102 Creation and community services ............................ 7,308 4,686 mmumty planning and development ........:.. , , ....... 725' 840 ,octal expenses..........:.......:...:........r ....:............:.:... 6,454 7,318 gon or county - share of expenditure ................. 24,260. 26,623 ueatfon....:............... .......................... .............. ............ ......... 53,198 599366 ion, 2nd Ralph 1%lorrison, Paul Blake, ($242,189) ($229,688) ratue tone 2nd Joanne Ritchie. Blake Alton; For President, Gord- ration. ... ....................................................................$128,121 on Johnstone, nominated by Elmer Johnston .$134,150 obibutions from other governments ....................... 112,354 77,569 ler................ :........... ....... ......... .............................................. 12,881 13,348 Angle and seconded by Gordon $253,356 $225,067 cumulated net revenue (deficit) at Webster, riominaieO by Beryle ' Gyehe ison - Blake Bev Blake iend of the year ............... ............................................... 5,374 (5,79.3) petalrevenue.................................................................... 1 5,374 .,(5,793) relatives.planned to meet again $5,374 $ (5,793) or Ralph and Barry Morrison. Shoe �� Johnstone Scramble , Ralph Morrison, Barry Morri on . Roger rt n er Wheel s iso Wh 1 ads Blake Picnic Barrow race, lst Bruce. Johnstone and Bev Blake, 2nd Ralph and he annual Blake family picnic Barry Morrison, 3rd John Johnstone held Sunday, July 14th. in Strati and Roger Morrison. Balloon 's Queen's Park. President, Toss, Blake Alton and Joanne Alton welcomed the forty- -Ritchie. 2nd Ralph and Barry Mor- nguests from Dunnville, Tor- rison, 3rd Murray Morrison and Watford, Atwood, Sarnia , Christine Peden. ow and surrounding'area . A Needle Threading contest, Ist tiful meal began the after- Allan and Karen Webster, 2nd I visiting and recreation. Blake and Dora Alton, 3rd Harold ts, this year, were under Webster and Joanne Ritchie, Kick able direction of the Ritchie the slipper. Ist Bruce Johnstone , The results were as follows: 2nd Joanne Ritchie., 3rd Barry years, Ist Stephen Al- Morrison. Prizes to the oldest 2nd Datilyn Angle, 3rd Deid- lady and gent went to Wilfre&and ogle; 9-12 years, Ist Karl Mor- Leila Hoffman of Dunnville. Birth - ;2nd Kay Morrison, d4y greetings went to Kay'Blake -16years (boys),' lst Roger whose birthday fell on the picnic ion, 2nd Ralph 1%lorrison, Paul Blake, date. An election of officers for 1975 •16 ears(girls)iV2 , 1st Mari was conducted by 1974 president , tone 2nd Joanne Ritchie. Blake Alton; For President, Gord- years, 1st Beverly Blake on Johnstone, nominated by Elmer Johnston , Barry 'Mortison, 3rd Bruce ar� seconded by. Doug one, Angle; For Vice President, Allan ela es were the Cracker Webstt:r, nominated by Doug le Crab Walk and a Angle and seconded by Gordon e Relay Ali these events Johnstone; For secretary, Karen won by team of Roger Webster, riominaieO by Beryle ' Gyehe ison - Blake Bev Blake Moffat 'and seconded by Kay , , hnstone Stephen Alton, Blake; For sports, the Howard ' ebster and Joanne Ritchie. egraCe,Ist It Blake family. After the picnic supper, the Bev Blake eJohnstone, 2nd Ro er $ relatives.planned to meet again and John Johnstone, next year in Stratford nark on the 3rd second Sunday of July. Capital financing Long term liabilities incurred ... :..................... ........... ..... $ 29900 Contributions from the revenue fund ........ 15,212 ($ 18,112). Unfinanced capital outlay .(Unexpended capital financing) at the end of the year ...............Nil Consolidated Balance Sheet as at December .31, 1973 ASSETS Current Assets 1973' Cash .................. ........ 2,829 Accounts receivable ................ :...... ....................... .:...........'. 461769 Taxes receivable..............:................................................. 18,356 Other current assets ....... ..................... :........ .................... 481 $ 68,435 Capital, outlay to be recovered n future years............................................................. 47,118 $115,553 LIABILITIES Current liabilities $ 3,800. 1,252 ($.. 5052) Nil 1972 3,354 44,055 20,695 825 $ 68,929 54,071 $123,000 Temporary loans.............:...::.............•............::............:... $ 20,000. $ 33,500 Accounts payable and accrued liabilities .....'...........: 11,319 11,186 Other current liabilities..........„............ ............. .............. 1,742 36 $ 33,061 $ 44,722 Net long term liabilities .............. :.............................. :........ 47,118 54,071 Reserves and reserve funds___... ..... * .......... * ....... unds.....:...............................30,000 30;000 Accumulated net revenue (deficit) and unapplied capital receipts ...........:........................:.5,374 (5,793) 4 ' $115,553 $123,000 Notes,' to Financial Statement i. CHARGES FOR NET LONG TERM LIABILITIES Total charges'for the year for net long term liabilities were as follows:...: .._ _..- ., : .. Principal payments .... .... ... _ .... . ..$ 9,852 Interest . ...................... 2,395 $ 12,247 Of the total charges shown above, $12,247 was paid from the revenue of -the municipality and is included in expenditure, classified. under the appropriate functional headings. 2. BASIS OF CONSOLIDATION The Consolidated Balance Sheet reflects the assets and liabil- ities of the revenue fund and the capital fund of the municipality. 3. NET LONG TERM LIABILITIES Total .long term liabilities inctirred by the municipality and outstanding at the end of the year amount to $ 97,118 Of , the long term liabilities shown above, the responsibility for j payment of principal and interest charges has been assumed by the Bruce County Board of Education for a principal amount of $ 50,000 Net long term liabilities at the end of the year $ 47,118 4. 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 years from other sources: Special charges on benefiting landowners $.45,118 5. LIABILITY FOR VESTED -SICK LEAVE IIENEFITS Under the sick leave benefit plan, unused. sick leave can ac- cumulate an& employees may become entitled to a cash payment 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 ter- urinating, amounted to Nil at the end of the year. ......Wv..v. %of .. . WHITECHURCH NEWS The July meeting of F. W.I. C. and A. C.. W. W. was held July 10th in Whitechurch Community Mem- orial Hall with Mrs. 'Albert Coultes hostess. The president Miss Merle Wilson opened the meeting 'with the singing of the 'Ode and repeating the Creed. The minutes were read by the secretary Mrs George Fisher. She also gave a financial M report , Mrs. Fisher is to choose some- t t`sr` one to help her buy a •coffee mak-''" er for Institute. Plans were ,made for the Craft-, bake, vegetable sale and lunch to be served At sale 'September 7 in the afternoon in the hall. • Mrs. Metcalfe is in charge of the bake table'; vegetabl-, les, Mrs. Lorne Durnin; rniscellan-. eous, Mrs. Rintoul; white elephant, Mrs. Frank Ross', the, lunch tables Mrs. James Wilson and Mrs. Garnet Farrier. The roll call name an officer of the F. W. I,C, and AX. W. W.'was'answer- ed by 17. Community singing of The Happy Wanderer, Blowing Bub- bles and I'd like to teach the world to sing, was enjoyed with Mrs. Garnet Farrier pianist. Mrs. Jim Currie gave .a report of the Bruce South District, Annual May 21 at Ripley f?r the District Director Mrs. Russel Gaunt. The girls Dawn'Adams, Cindy Moore, Linda Moore, Christine McQuil- lin and Rhonda Gibson sang This Land is my land and Joys like the Rain with Mrs. 'Garnet Farrier . pianist A.,report of the Officer's Confer . ence held in May at Kitchener wars given by the delegate Mrs. George Fisher who sat in with the members at large. She conducted a contest which had ,.been given to them at the conference which was , well answered by the members on many items from the Handbook. A report of the bus, trip in June to Erland Lee Homestead and other places was given by'Mrs. Tom Metcalfe. Thank you,notes were read from Mrs. Millan Moore, Dalton Schultz, Johnston Conn, Mrs. McGuire, Mrs. Vic- tor Emerson. Mrs. Metcalfe ' convener of Citizenship gave a brief report. Courtesy remarks were given by Miss Merle Wilson. Lunch was served by Mrs. Robert Ross, Mrs. Wm. Evans and Mrs. Dave Gibb. % 10, Guaranteed Investment Certificates yields17 5 u % �21 N when cumulated over five years Member Canada Deposit Insurance Corporation ;TCMRMMd TRUST COMPANY SFNCE 1888 NIANAGER J.D. (®AVE) CROSS . 524=7381 100 KINGSTON ST. 00DERICH 0