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TOWNSHIP of STEPHEN AUDITOR'S REPORT
The Reeve, Council and Ratepayers
The Corporation of the Township of Stephen
Crediton, Ontario.
Gentlemen:
June 11, 1969 Statement of Revenue and Expenditure
for the year ended December 31, 1968
REVENUE
Taxation
Realty
Business
Special charges
1968
276,587
9,007
33,346
I have audited the accounts and records of the Township of Stephen
for the year ended December 31, 1968 and have prepared therefrom the
statements listed in the index accompanying this report.
OPERATIONS
The operation of the year resulted in a surplus of $30,885 from
which was deduct the 1967 deficit of $19,269 leaving a net surplus of
$11,589.
The operations of the other local boards were as follows:
Dashwood P,U,C. Hydro surplus $ 8,171
C.R.C.S.S. Hay, McGillivray & Stephen
Stephen Township School Area
Stephen Township Community Centre
deficit $17,928
deficit $ 2,588
deficit $ 1,420
GENERAL
The revenue funds bank loans are in excess of the amount allowed by
section 329(2) of The Municipal Act, for the following reasons
(A) Bank loans to finance municipal drains and tile drain loans have
been dumped into the revenue fund bank account.
(B) Payments made on behalf of these expenditures have been taken
'out of the revenue fund bank account.
(C) The result is that accounts receivable are being created to be
liquidated by recoveries by way of the issue of debentures & benefiting
property owners payments. However in the process current revenue funds
otherwise needed for the normal activities of the Township are being
locked into these accounts receivable during the time taken to pay for the
drainage work and its eventual collection.
It is suggested that these types of expenditures be financed as capital
loans and capital fund recoverables, If this course had been followed in
1968 the Township would not have exceeded its borrowing limits.
A statement of debenture debt was not prepared by the
Clerk-Treasurer of the Village of Gtand Bend as required. The amounts of
Grand Bend debentures shown as assumed by the Township of Stephen
were calculated by me.
AUDITOR'S OPINION
Subject to the qualifications concerning
1. Revenue fund bank loans
2. Statement of Debenture Debt assumed from the Village of Grand Bend,
I hereby report that in my opinion
1. The financial transactions which have come under notice have been
within the powers of the municipality.
2. The audit has been conducted in accordance with the instructions of the
Department a Municipal Affairs,
3. The financial statements present fairly the financial position of the
municipality as at December 31, 1968 and the results of its operations
for the year ended on that date.
4. The financial statements have not been prepared on a basis consistent
with prior years but have been changed to conform with the financial
statements required by the Department of Municipal Affairs.
A. M. HARPER
Date of filing June 18, 1969 Licence Number 3664
Contributions from other governments
Payments in lieu of taxes
Subsidies
Other revenue
Total revenue
EXPENDITURE
General government
Protection to persons and property
Public works
Sanitation and waste removal
Social and family services
Recreation and community services
Financial expenses
Other
County - share of expenditure
Education - local contributions
Total expenditure
Excess (deficiency) of revenue over
expenditure for the year
Deficit at the beginning of the year
Surplus at the end of the year
Revenue Fund Balance Sheet
as at December 31, 1968
ASSETS
Cash
Accounts Receivable
Other governments
Ontario
Municipalities
Local boards and other funds
Police Village of Centralia
Police Village of Crediton 44 ,
Stephen Township Community Centre . . . , ,,
Other, after deducting allowance
for doubtful accounts .........
Municipal drains ... . • 4 4 .0
Taxes receivable, after deducting
allowance for uneolleetable taxes
LIABILITIES
bank overdraft 4144•044.4004•••••4•40114.1..•••1,41•1•4
Temporary loans I ..........
Local boards and other funds
Police of Dashwbod . , „ . , .... ..
Due to schools „
Other
Deferred
payable ...... .......
vefetted revenue •44044 ........... •••1•0.4rd4.
ReSerVeS 4,4v.0 11.1,iiI41 ,11 rooi#1,16.01.If.tV1,11* . .....
S urplus 4 ,[44•4“......4011 11 116111.4414.1.4,,4,.....,,,,,,,
318,940
27,947
124,213
irct4.052 160
481 560
141735,058724
8,390
804
8,707
3,601
/9,244
779,65 3189
152,116
450,675
112_,Lt630,885)
11,Y89
1968
$
2,887
147,494
20,479
170,860
898
1,058
1,500
174,316
7,622
150,329
73,382
405,649
1968
38,946
258,000
' 296,946
10,01189
306,983
18,169
18,908
344,060
50,000
11,589
405,649
JUST ONE PLANT - That's just one geranium plant, the pride and
• joy of Mrs. Ivan Brock, Usborne Township. There are over 60
blooms amid the healthy foliage, Mrs. Brock does have one slight
problem. That's where to store the oversized houseplant for the
winter months. Any volunteers? T-A photo
KINSMEN WALKERS AT STARTING POINT SATURDAY
AOMIRAL
Color TV
PRICED AS LOW AS
459"
CALL ON US FOR
* ANTENNAE
INSTALLATIONS
* TV SERVICE
ZIMMER'S
Radio and TV
DASHWOOD 237-3574
Rev. Sister St. Omer and Mr,
& Mrs. Jim Doyle of London
visited Sunday with Mr. & Mrs.
Wm. McCann.
Miss Rosalie Carey has
accepted a summer job at Grand
Bend.
Mr. & Mrs. Don Ferguson of
Baggotvi]le, Quebec, have spent
the past three weeks with Mr. &
Mrs. Norman Ryan and George.
Saturday Mrs. Norman Ryan and
George accompanied them home
by car to visit for next two
weeks.
Miss Mary Ellen Ryan,
Chatham, is on .holidays for a
month from St. Joseph's
Hospital where she is in training.
Rev. Father John Gielen of
South Africa showed slides of
his work in the mission fields to
a large crowd of parishioners in
the school gym Thursday
evening.
Richard Trainor, Hamilton
spent last weekend with his
mother, Mrs. Frank Trainor and
family.
Mr. & Mrs. Hubert Carey
visited over weekend with Mr. &
Mrs. Paul Masse of Windsor.
By MISS E L LA MO R LOCK
CREDITON
Vacation Bible School will be
conducted in Zion United
Church Monday to Friday the
week of August 18. All
kindergarten and public
school-age children are invited to
attend. Sessions will run from
9:15 to 11:30.
Kerry Lynne Mahoney spent
the past week with her
grandparents, Mr. & Mrs. Sam
King. Her parents, Mr. & Mrs.
Don Mahoney, came to Crediton
for the weekend; then the family
returned to Hespeler.
Russell Pack, his two
daughters, and his sister, Mrs.
Harding, of London visited with
Mr, & Mrs. Emmery Fahrner and
Miss Lillian Haist.
Mr. & Mrs. Charles Browning
Sr. and Lee of Winnipeg were
guests of Mr. & Mrs. Charles
Browning. During their visit the
Browning Reunion was held in
Crediton. Relatives came from
St. Thomas and Shedden to
make a gathering of 25
members.
Calvin Fahrner this week
concludes his work with the
Beach Mission at Ipperwash.
Twice he was assisted by Mr.
Carman Schlenker of Ayr.
The chicken barbecue
sponsored by the Parks Board in
the community field Sunday
afternoon attracted a crowd of
nearly 500. Many of the people
stayed to watch the evening ball
game between Goderich and
Crediton,
Weekend guests of Mrs.
William I-lodge were 'the Misses
Sharon Hodge, Jean McLaren
and Sylvia Anderson of
Kitchener, and Mrs. McLaren
and Mrs. Anderson of
Edinburgh, Scotland. Mrs.
McLaren and Mrs. Anderson,
mothers of Jean and Sylvia, are
in Canada to visit their
daughters.
Mr. Danny Ross of Ottawa
spent a couple of days with Mr.
& Mrs, Ed Thorne and family.
Mr. & Mrs. William Brennan
and their three children have
moved into the home formerly
occupied by Mr. & Mrs. Joe
Finkbeiner. The Brennans came
to Crediton from Huron Park.
Mrs. Mary Faist suffered a fall
in her son's home in Kitchener
and was hospitalized for a few
days. Last Friday she returned
to the Bluewater Rest Home,
Zurich.
Mr. & Mrs. William Benninger
of Mt. Clemens, Michigan were
guests at the home of Mr. & Mrs.
Lloyd Lamport.
Mr. & Mrs. Lloyd Lamport,
Mr. & Mrs. Dennis Lamport and
Mrs. Sanford Lawson were in
Ferndale, Michigan, for the
funeral service of James Leary,
husband of Eileen Lamport,
There will be no public
library service the weeks of
August 18 and August 25. Books
issued prior to that time will not
be accounted due until Tuesday,
September 2.
Mr. & Mrs. Robert Hilborn
and Cathy, Orangeville, are
holidaying with Miss Nola Faist.
Mr. & Mrs, Ross Haugh,
Linda and Danny, and Mr. &
Mrs. Lorne Finkbeiner were in
Foymount last week visiting
with Sgt. and Mrs. Robert
Lambie and family.
Shirley, Beth and Mark,
children of Major and Mrs.
Robert Palmer, Trenton, spent
two weeks with their
grandparents, Mr. & Mrs.
Emmery Fahrner. Their parents
were in Winnipeg to attend the
wedding of Major Palmer's
nephew.
Mr. & Mrs. Eric Finkbeiner
enjoyed a holiday at Bass Lake.
On their return they went to
Fenwick to visit Mr. & Mrs.
Howard Haist,
By MRS. HAROLD DAVIS
Mr. & Mrs. Ross Francis are
spending two weeks in Western
Canada,
Mr. & Mrs. Bill Schaefer and
girls, Mrs. Wm. J. Blackler and
Diane Fairbairn spent a couple
of days at Point Clarke.
Rev. & Mrs. Bell and Sam are
vacationing at Rondeau Park.
Mrs. Bella Wright of London
and Mrs. Herb Bibby of
Farquhar visited Saturday
afternoon with Mr. & Mrs. Miller
McCurdy.
Murray Switzer spent a
couple of days this past week
with Jeffrey Watterton of
Balymote.
Mr. & Mrs. Jack Roundel' of
Denbigh are visiting with Mr. &
Mrs. Garth Blackler and family
and friends in the community.
Batfn Around
- Continued from Page 4
spending any time in their
backyards will realize that such
training will never go amiss.
- Fred H. McNeil has been
elected chairman of the board of
governors of the Institute of
Canadian Bankers. Good for
Fred!
- The post office department
sends along a couple of pictures
of the new stamps for the
upcoming Christmas season.
They unfortunately don't
indicate any special prices for
early buyers.
- The Canadian Jersy Cattle
Club announces that Valtallina
Dandy Jerri 7M was the top
producer in Canada in July. She
also made a gold medal on her
365 day production. We hope
we can count on her to have
another gold medal in the bag
come the next Olympics.
- Not to be outdone, the
Holstein group announces that a
Bolton herd took top honors at
several leading fairs in Western
Canada. A ticker tape parade
down Toronto's Bay St. should
be just reward for this
tremendous showing.
- Last but not least, the
Cigar Institute of Canada
announces that Andre Gingras of
Montreal took the most
interesting photo of a cigar
smoker during the month of
July.
Those are just a few of the
important pieces of literature
included in the two bushels and
we know most readers will
doubt our sense of news values
When they consider what has
gone into the fire and will never
reach them.
For those who are really
`upset, some of the same typo
will be arriving each day for the
next 51 weeks and anyone is
invited to tirop in and help
themselves to this wonderful
source of knowledge.
Crediton church is planning
annual vacation Bible schoo
Union Gas
HEAD or-i CHATHAM