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Home My WebLink AboutThe Lucknow Sentinel, 1974-07-31, Page 15HWY, JULY .31, 1974. Brother Passes In Michigan K1NGSBRIDGE NEWS , Albert O'Loughlin of Troy 'gan, brother of Mrs. Berna- KinneY passed away suddenly nday, July 14. e funeral took place Wed - ay, July 17 when concelebrat- rerh Mass celebrated by his Reverend Father Raphael ughlin of Mexico City and Pend Father Michael Dalton rourtland, Ontario, took place Favian's°Roman Catholic ch in Farmington, Michigan.,, bert O'Loughlin was the son c septi 13. and Mary (Griffin) ughlin; formerly of Ashfield hop, He is survived by his inorothy, and three brothers, rend Father Raphael O'Lough.- ,S.13. of Mexico City,. Norm - Phoenix, Arizona and on of Rochester, Michigan three sisters , Mrs. Bernadine, ey of 'Kingsbridge , Mrs. y Schmidt (Norine) of Phila- ia U.S.A. and Mrs. Ed Shea garet) of Berkley, Mich. , agratulations to Mr. and Mrs. Million (Lynn Austin) who married at St. Joseph's ch on Saturday. The recep- Was held in Saltford Valley eception for Mr. and Mrs. ourtney was held in the Luck- rena on Saturday evening. v. Father Michael Dalton of dand , Sister Maureen Dalton ndon and Antoinette Dalton ;troit were visitors thfs past with their brother Ray Dal- . nd other relatives. , and Mrs. Jim Martin and Ly of Welland , Ontario, were iy visitors with Mr. and Mrs. ie VanOsch. s, Mary Lambertus is'a pat- 'al Victoria Hospital, e Courtney, son of Mr. and Joe Courtney returned home St. Joseph's Hospital, Lon - ast Tuesday, where he had a patient for, six days. , and Mrs. Harry Gielen of ton and Mr. and Mrs. Jack sch of the Netherlands were es last week with their aunt gcle Mr. and Mrs. Jack Van and cousins in the area . ' ASIDE SIDE W. M.S. monthly meeting of Lang - was held at the of Mrs. Peter de Boer Thurs- vening with seven members tendance. The meeting op - with thelymn 'Take my life tit be', Mrs. Stewart read ipture Isiah 55: 8-13. Mrs. ah gave the first meditation ible is the Word of God' 5, Jim Young giving the 'The light you need'. Mrs. led in prayer. Bregman read the minutes 'k the roll call/ Poems ead by Mrs. Bregman, Mrs. Moffat, Mrs. timer Scott. offering was received and offat led in prayer. "What we have in Jesus" was The topic "What it means AMen" was given by Mrs. , Mrs. Moffat gave the 'One you can trust' . The g closed with the PraYer. Lunch was served hostess. . • and Mrs, Clifford Young visited Mr. and etcy Pinnell of Dundalk . . 'e Baswick was guest speak - THE LUCKNOW SENTINEL, LUCKNOW, ONTARIO Township of West Wawanosh Auditor's Report and Financial Statements FOR THE YEAR ENDED DECEMBER 31, 1973 Auditor's Report June 12, 1974 To: The Members of Council, and Ratepayers of the Corporation of the Township Of West Wawanosh We have examined the 1973 financial statements of the Corpor- ation of the Township of West Wawanosh and its local boards, which are listed on the attathed Index. Our examination included a general review of the accounting procedures and such tests, of accounting records and other 'supporting evidence as we considered necessary in the circumstances. In our opinion these financial statements present fairly the fin- ancial position of the Corporation of the Township of West Wawanosh and its local boards as at December 31st, 1973, and the results of their operations for the year then ended, in accordance with accounting prin- ciples generally accepted for Ontario municipalities applied on a basis consistent with that of, the preceding year except as reported in notes 5 and 6 .on the schedule of Notes of the Financial Statements (State- ment 7). Stratford, Ontario. Date of Filing June 12, 1974 Respectfully, submitted, Monteith, Monteith and Co., Chartered Accountants, License No. 4490 PAGE FIFTEEN Consolidated Balance Sheet as at December 31, 1973 ASSET$ Current Assets Cash $ 11,382 $ 19,670 Accounts receivable 31,753 38,085 Taxes receivable , 28,122 28,542 1973 1972 $ 71,257 $ 86,297 Capital outlay to be recovered in future years •$ 35,354 $ 15,997 • $106,611 $102,294 LIABILITIES Current liabilities Temporary loans $ 43,769 $ 50,269 Accounts payable and accrued liabilities 8,455, 5,161 Other current liabilities • 5,558 90. $ 57,782 , $ 55,520 Net long term liabilities 19,320 15,997 Reserves and reserve funds 29,250 32,500 Accumulated net revenue (deficit) and unapplied • capital, receipts •259 ( 1,723) $106,611 $102,294 • • Notes to Financial'Staternents Statement of Revenue and Expenditure 1. CHARGES FOR NET LONG TERM LIA13ILITIES Total charges for the year for net long term liabilities were as follows: for the year ended December 31, 1973 1973 $ (1,723) Accumulated net revenue (deficit) at the beginning of the year Expenditure General govermnent • 9,261 Protection to persons and property 5,531 Transportation services •79,510 Environmental services • 1,751 Conservation of health 685 Recreation and community .services 1 1,985 Financial eXpenses 3,823 Region or county -- share, of expenditure 37,214 Education 53,749' Other :1972 $ 7,408 7,910 5,616 • 85,013 1,295 1,085 1,996 37,214 52,409 200 ($193,509) ($192,738) Revenue Taxation $130,793 $122,240 • Contributions from other governments 54,314 55,858 Other 10,384 5,509 Accumulated net revenue (deficit) at the end of the year Analysed as follows: General revenue 3,997 3,690 Special charges 408 408 Police villages • (. 4,046) ( 5,821) $195,491 • $183,607 259 ( 1,723) $ 259 ( 1,723) Statement of Capital Fund Operations for the year ended December 31, 1973 1973 Unfinanced capital outlay (Unexpended capital financing) at the beginning of the year nil Capital outlay Transportation services Tranfers to others 35,451 5,300 Capital financing Long term liabilities incurred Contributions from other governments 17,400 Contributions from the reserve fund $ 40,751 $ 5,300 18,051 ,($ 40,751) Principal Payments •$ 1,977 622 •. Interest $ 2,639 2. 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 local boards have not been con- solidated. 0 . • 3. NET LONG TERM LIABILITIES • Total long term liabilities incurred by the municipality and outstanding 'at the end of the year amount to •$ 19,320 ' Net long .term liabilities at the end of the year $ 19,320 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 $ 19,320 • $ 40,000 Since the mill rates of the Police Village of Manchester are not being levied in accordance with the Municipal Act, in that no general municipal township rate is levied on the Police Village assessment, thee& is no basis of giving credit to the ratepayers of the Police Village of their share 'of the Unconditional Per Capita Grant, and residents of the Police Village are not paying towards the general expenses of the Township in which' they are situated. Also there is no provision to credit the Police Village with the read subsidy received from the Province of Ontario by the Township of West Wawanosh for road work carried out by the Police Village and charged as a Police Village expenditure. As at December 31st, 1973, the Police Village of Manchester showed a deficit balance •of $4,046.00. • 7. A Public Works Garage was under construction on December 31st, 1972 • 1973. Approximately $29,834 will be expended in 1974 to complete this project. This expenditure is to be financed from the revenue nil fund of the township. , 11,186 1,500 $ 12,686 $ 1,500 11,186 ($ 12,686) Unfinanced capital outlay (unexpended capital financing) at the end of the year nil nil er at the Langside Ciurch service Sunday. Next Sund y the service will be back at 9.45 a.m. with Sunday School at 11 a . Tn. Guests Sunday with Mr. and Mrs Mrs. Peter de Boer wereMr. and Mrs. Hank Kragt of British Colum- bia; Mrs. Symon de Boer of Luck - now, , and Peter's brother and wife Mr. and Mrs, Ieme de Boer and farnily of Holland. Ralph Martins, a cousin of Mrs. de Boer, has been visiting at the home of NIr. and Mrs. Peter de Bocr the past three weeks. Joanne de Boer, , daughter of Mr. and Mrs. Peter de Boer, is 'visiting at the Martins' home in Toronto. STOPS runny noses CLEARS stuffy heads DRIES watery eyes 24 for $1.67 •••••••••••••••••• Extended Action Medication • Elmer Umbach I.D.A. Discount Pharmacy