The Huron Expositor, 1981-06-03, Page 81980
Amid.
g
95.775
95.775
•
57.000
203.667-
36.015
392.457
125.156 '
47,500
. 4,662
40,000
,1.650
3.891
99.503
4,500
13,685
2.807
20.992
- 203.667 1980
Admil
34',792
27,428
134,922
' 8,601
205, 743
123,515
82.228
205.1743
19110
Actual
$
20,000
20„000
. 103,677
• 54.990 7:
• 250000
183,667
.203 667 • ""`","•!,"n ••
Pig HY, 1110011.11)11, JUNE 3. 1901
ud nts hear about alcohol Ouse from AA sp S.
linadaY. WY 2S and
ay lo. two nurses
CountY
Unit cane to lbdiett
..theilisoride treatment
to all•*tidents. Each received
a toothbrush and the primary
students received a tube of
toothpaste. All cliSSes saw a
film *bout tooth decay.
DANS FLAYS
ATHLOMIPEN
The Majority of the Wil-
lett Central- SAO. Wild
played for the .,people—who
arrived during the evening of
May. 24 The band" set up
across from Emilia% in the
middle of the road. The
students Played about 10
year 43k1 girls-Susan Goven. „,
tuck, And 10 year old
bays-Jamie Gibbings; 11
year old girla.-Lori Bromley.
11 yeaT old boys-Mark Allen;
12 year . old girls•Cheryl
Bromley. 12 _mar old boys-
Ron Van kfassenhoven; 13
and over girls-Darlene Gu-
lutzen. 13 And over boys-,
track and ,field meet. The
seniors began to compete at
9410 and the juniors at I l:00.
there were 10 events in all.
The champions from each
division were as follows: b
year olds-hlelony Knox.
,and 8 year old girls-Theresa
Knox. and 8 year old boys-
Charles Gulutzen; 9 and 10
soogs from 7:00 to 7:20. The
Kiompen Feest took place on
May 22 and 23. The band
played well and we hope that
the band will be able to take
part in such activities more
often. -
TRACK AND FIELD
On May 22 Mullett C'en-
tral School held its annual
Robert Wilts.
vV.17011.0 10 AO who
participated and placed 1st
or 2nd in any of the 10 events
go on to Seaforth to compete
on Tuesday. June 2nd. They
will be competing against S
other schools. Good luck to
all.
GRADE 2'S STUDY
TOD ENVOWNMENT
On Timm:lay. May 21st
tit) environmentalists visited
Mrs. fleornig's grade 2
class. They studied insects
and caught insects in the
grass. trees and rivers. They
later studied- these under a
magnifying glass. They also
learned about litterine and
studying drugs and alcoholin
health classes. They told
of their experiences with
alcohol and handed out pam-
phlets.
litter. They collected litter
and tried to burn• it.
ALCOHOLIC ANONYMOUS
On Wednesday. May 27.
the grade 7 land Ws talked
about alcohol abuse when 2
people from Alcoholics
Anonymous came from
Clinton. They spoke to the
students who hOve been
Remember, it take, but a
moment to place an Ex-
positor Want Ad. Dial
$27-0240.
P -giihnOtzF ,
'tied '14).EeB1i,7101;.$
the (o,t0q1)0..o.f:the
.../Cainvk Sitefoeph:
or as*etie st
THE FINANCIAL SiATEENiS coned ASSIT$
4 • : •
1960
40411
$
64.904
1979
*clad
". Cement /mum
tie have examined the balance sheet of the Corporation
'of the Town of Seaforth as at December ;1, 1980 and the statements '
of revenue and expenditure, capital operations, and reserve and
reserve funds continuity and analysis of year end position for the
year then ended. Our examination was made in accordance with
generally accepted auditing standards, and accordingly included such
testa and.ochar-procedus- n as..we. c.onsi dnce d e a y.in_the
30,578
40.994
62.174
Cash 3. Accumulated net revenue (deficit)
at the end of the year 54,813 Taxes re,:eiv.ibic
The balance in the revenue fund at the year end is available
to reduce (to be added to) the levies of the following classes of ratepayers:
67,112 A,counts re..ri%sble
loans)
temporary
Other ,urrent assets
Inv..stmtnt,. is 2....100 pledged against
Prepaid ins.lran,e and deposits
.69,500
71.&§49
' 224,4195_
77,500
13,999 1980 *979
$33,295 $36.912
1,045 1.036
-1.671 6T
$36.015 $38.009
alionamm
278.328 General ratepayers
School board ratepayers
• County ratepayers- •
-Capitat-outla!, tabs recnwsr_c_ii
future years
Other long term assets
Long-term portion of loans receivable relating to
the Ontario Home Renewal Program
circumstances.
57,000 63,000
In our opinion, these financial statement present
fairly the financial position of the Corporation of the Town of
Seaforth as ...0--0e-CeiThei: 3171980 and the results of its operations
for the year then ended in accordance with generally accepted
accounting principles lor Ontario municipalities applied on a basis
consistent with that of the preceding year.
57",129 54,094 4. Charges for net long-term liabilities
Total charges for the year for net long-term liabilities were
as follows: 392.457 341.989 1980 1979
$ 6,000 $ 6.000
6.125 6.725
$12.125 612,725
LIABILITIES
Current liabilities
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities
Principal payments tir Interest 1979
Actual
0.000
55.824
„aele".0- ,tge,ef=
The charges shown above were paid from general municipal
revenues of the municipality and are incl‘ded in expenditures on the Statement
of 'avenue and Itspenditute classified under the appropriate functional
headings.
London, Canada.
February 27, 1981.
Chartered Accountants.
Licehee Number 257
115.824
STATEMENT OF REVENUE AND EXPENDITURE Net long term liabilities
Reserves and reserve funds
63,000
125,156 5. Riming* of unconsolidated
municipal enterprise for tote year ended December 31 1980
- 1980
Ave
3'8009
Accumulated net revenue (deficit) and
unapplied capital receipts Ile 1980 the lasterworke incurred a.loss of $2.360 ($684 in
1979) which is not reflected in these financial statements.
6. Investments
1979
Actual
(20,102)
38.009
Accumulated net revenue (deficit) at
the beginning of the year
Expenditures and transfers
Municipal expenditures
General government
Protection to persons and property
Transportation services
Environmental services
• Health services .• •
Socialand family savices
Erma *tie:lane cultural services
Plannito.anddevelopment
Other - Reserve for working-funds
341.989 TicareempaRres noses ere a. merit pen
of all P111•11101d uosewnn The investments included it Aurrent assets are recorded at
cost of $77.500 and have a market value of 975.335 as at the end of the year.
155,283
19,5.090
234,579
. '102.1.25
•
3.900
. 181.623
. , 12.990
' 084
176',541 •
189,947
236d96
127,861
3,636
191,930
4.544
45.•000
153,601
173,532
194.574
181,1307
3,285
196,708,
11.234
914,064
NOTES TO THE FINANCIAL STATEMENTS 7. Comparative mmonnts
Certain of the 1979 amounts have been reclassified to conform
with the presentation adopted is 1960. •
8. , fire protection awnless '
.1. Accounting poliOas
(a) Statement of revenue and expenditure .‘>
This statement reflects the revenues and expenditures of the
930.674 976.255 Total expenditure
SffectiviJammery 1, 1100, the meeicipelity entered into in
isreameet to provide fire pretentious services to Seaforth and other surround-
ing Ossmihipe. Imeleded le theme etatements are the town's portion of the
tsar sass to spirts the fire depettnemt.during 1980. e..
Transfers
Transfers to region or county
Transfers to school bards
Total transfers
Total expenditures and transfers
Revenue by purpose
Municipal purposes
Taxation
Payments in lieu of taxes
Ontario grants •
• Other grants
Fees and service charges
Other - Tranafers from reeerve—funde
Revenue to pay for municipal purposes
Region or county requisition
Taxation .
Payments in lieu of taxes
- -Ontario grants.
Other
revenue fund. There are no local boards or municipal enterprises consolidated' 59;288 61,746
233,806 '
. 91.642
201,753 240,623
in these results..
(b) Statement of capital operations
This, statement reflects the capital expenditure of the emeriti-
295,552
1,226,226
799.911
1,276,166
293.395
1,207.459
AND RESERVE FUNDS
STATEN/NT OF CONTINUITY AND ANALYSIS
OF YEAR END POSITION
the year ended Dicesitber 31. 1980
297,494
19,500
311,192
5.11,170
201,209
4..500
332,201
20,504
339,336
38,569
236,538,"
4,100.
339,368 •
18,826
325,123
4.%746
242,925
pality to be recovered from the general municipal revenue of thenimicipatity.
(c) Balance sheet
This statement reflects-the assets andHliabilitlis of the
. 971 988 revenue fund. the capital 'fund and reserve, funds.
(d) Fixed assets.
27,981
The historical cost and accumulated depreciation of fined
_ . _...aasetc,le...not_ropOrtet).,19Lieint4,iP111RUIPRIPARL.„,
to be recovered in future'yeare% which is, the principal portion of unmatured
long-term liabilities, is reported on the balance sheet.
892,665 . 971.648
61.366 63.613 ''. 61.512
1979
Act al 380 380
Revenue to pay the region or county requisition
- -
School board requisition
Taxation
Payments in lieu of taxes
Other
Revenue to pay the school board requisition
Total revenue
61,746 61.892 . 91.594 AMMO& et thelreginisho et the yaw for
&Wm musicipel pops= 86,104
233,80.6 240,632 201.988
(a) Municipal enterprises
Municipal enterprises are those activities Whose costs are
substantially recovered from service charges on the users. The enterprise' ,
. .
of this municipality whose revenues and expenditures. have not been consoli-
dated in these financial, statements is the Waterworks and-the Firebdard,
(f) Chergee for net fong,eerui
Debt retirkent Costs including• principal and interest ere
Ravens
Contributions from the revenue fund
Contributors from devekipers
pisearlo Rome Renewal Program,:
- grants -
• - interest on loans
2,500
16,877
. :968
. 1,265,570
. 233,806_.
1..188 217,
240,632
1.274,172
40,000
3;867
Accumulated net revenue (deficit) at
the end of the year 36.015 38.009
36,912
Al
1,036
Ansivsen as fonowsf
General revenue
• Region or county
School boards
Special charges
Special areas
Local boards.
Municipal enterprises
MOM earned 40)97 • 33', 295
1,675
1.045
67,341
Expeodftere
transfers to the capital fund
Ibmsdrm, to the revenue fund,
.r•
Ontario Ham* Renewal' Program:
- forSiVable loans
...direct charges for administration
charged against current revenues in the periods in which they are paid.
Interest charges are not accrued for the peridds free the date of, the. latest 36,015 . 38,009
interest payment to the end of the financial year-.
2, Net long-tern liabilities
The ateempanyvnir wows dos en lamed pm
of Ono ligeocsof ustrmr.es 24,973
3,316 '
STATEMENT. OF CAPITAL OPERATIONS (a) The balance for net long.term liabilities reported on the
balance sheet is made up of the following:
28,289
for the year ended &Telpher 31 1980
Available at the year end for future
municipal purposes 1979
Actual
0
Total long-term liabilities incurred by
the municipality And outstanding at
the end of the year amount to
Of the long-term liabilities shown above,
the responsibility for payment of
principal and interest charges has
been Assumed by, others (see (b) below)
for a principal amount of
Net long-term liabilities at the end of
the year •
18,281 Annual payments required on the net long-
term liabilities are as follows:
125..156
.650,000 Unfinaneed capital outlay (Unexpended capital
financing) at the beginnkng of the year
Capital expenditure
General government
Protection to persons and property
Transportation services
Environmental services
Health services
Social and family services
Recreation and. cultural services
Planning and development
Other
Total expenditure
ANALYSIS OF YEAR END POSITION
30,548
17,171
94,164
22,185
as at December 31. 19110 293,000
$ 57,000
Principal Interest
5,7,000 $ 5,475
8,000 4,719
9.000 3,844
10,000 2,870
11,000 1.794
12.000 615
$57.000 $19,313
mimmea molimme
1979
Actual
$
Reserves
,'Working capital
1982
1983
1984
1985
1986
Capital financing
Contributions from the revenue fund
Contributions from reserves
end reserve funds
Long term liabilities incurred
Ontario grants
Other
Total capital financing
UniTnaticed capital outlay (Unexpended
capital fitilmeitig) atthe end of the year
TIM istoSpostors Ron is I. ioSipsition
C! rbie II cur Sissisio
Reserve funds
Ontario Home Renewal Program:
.Industrial Reserve Fund
.Working funds
92,728
76.519
48,631
85,370
_4,161
_18WA9 (b) On January 1, 1969 the Huron County Board of Education assumed
from the municipality the responsibility for the payment of the principal and
interest' charge's on the debentures issued, for school board purposes. '
125.156
.••••••
Veer end position of reserves
Ind oaserve foods
e ms _125.156 om...0 rtaiariasysaytmaimaiw•whingistaies