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BUILDING CENTRE CLINTON 482-3405 HENSALL 262-2418 SEAFORTH 527.0910 The Huron county Board of Education For the year ended December 31st, 1974 Auditor's Report TO THE HURON COUNTY BOARD OF EDUCATION: I have examined the Balance Sheet of the Huron County Board of Education as at December 31, 1974, the Revenue Fund - Statement of Operations and the Statement of Source and Application of Capital Funds for the year then ended. My examination included a general review of the accounting procedures and such tests of accounting records and other supporting evidence as I considered necessary in the circumstances. In my opinion these Financial Statements present fairly the financial position of the Board as at December 31, 1974 and the results of its operations and the source and application of its capital funds for the year then ended, in accordance with accounting principles generally acepted for Ontario School boards applied on a basis consistent with that of the preceding year. • A. M. HARPER Municipal Auditor-195 Goderich, Ontario May 8,1975 BALANCE SHEET As at December 31,1974 ASSETS Current Assets Revenue Fund Capital Fund • Cash 33,602 15,584 Accounts Receivable Municipalities: Under Requisitions 76,722 Other School Boards 44,082 Government of Ontario 661,726 Government of Canada 225 Other 1,862 Due from Other Funds Capital 132,936 Prepaid Expenses 75,321 TOTAL CURRENT ASSETS $ 1,026,251 15,809. Fixed Assets Land 359,182 Buildings 21,587,906 Furniture and Equipment 2,485,597 Projects in Progress 132,936 Buses 537,049 $ 1,026,251 $ 25,118,479 LIABILITIES Current Liabilities Revenue Capital Fund Fund Accounts Payable Municipalities Over-Requisitions 53,332 Other School Boards 161,781 Trades Payable and Accrued Liabilities 611,138 7,500 Due to Other Funds Revenue 132,936 Long Term Liabilities Unmatured Debenture Debt 6,667,516 Less Sinking Fund 6,667,516 Reserve for Working Funds Elementary 103,000 $200,000 Secondary ... . 97,000 18,310,527 Other $ 1,026,251 $ 25,118,479 REVENUE FUND Statement of Operations FOR SECONDARY SCHOOL PURPOSES for the year ended December 31, 1974 EXPENDITURE Business Administration 90,973 Computer Services 1,574 Instruction 4,608,707 Educational Services • 61,234 Attendance, health and food services 3,490 Plant Operation 573,441 Plant Maintenance 45,944 Transportation 527,243 Tuition Fees 282,947 Other operating expenditure 32,282 Debt charges on capital borrowing... „ 391,347 Non-Operating expenditure excluding transfers to reserve 13,697 'TO'TAL EXPENDITURE $ 6,632,879 RECOVERY OF EXPENDITURE: Other school boards Government of Ontario, tuition miscellaneous Individuals (1)Other Revenue, excluding transfers from reserves TOTAL RECOVERY OF EXPENDITURE NET EXPENDITURE Financing of Net Expenditure: Government of Ontario (2) General Legislative Grants , „ .. • Local Taxation 1973 Over (under; requisition (31,327) (3)Local taxation raised in 1974 1,626,430 Decrease (increase) in reserve Net Under (Over) Requisition Required to be Applied to 1975 Taxation (53,332) TOTAL $ 5,990,650 NOTE: (1) Other Revenue includes transfers from the capital fund, proceeds from the sale of assets, insurance claims, earnings on temporary investment, reimbursement for services and other miscellaneous items that are in the nature of recovery of expenditure. (2) Government of Ontario - General Legislative Grants is the amount payable by the Province of Ontario under the provisions of Ontario Regulation 200/74 as amended other than specific reimbursements reported as Government of Ontario, tuition fees and miscellaneous. (3) Local Taxation includes the total of the 1974 requisitions on municipalities, supplementary taxes, license fees for trailers, taxes levied directly by school boards and any other amounts provided by municipalities over and above the requisition, other than amounts in respect of sale of assets to a municipality or revenue from cost-shared programs, REVENUE FUND Statement of Operations,,, 440 FOR ELEMENTARY SCHOOL PURPOSES for the year ended December 31, 1974 EXPENDITURE: Business Administration 92,811 Computer Services 1,606 Instruction 4,446,005 Educational Services 114,265 Attendance, health and food services 1,454 Plant Operation 510,966 Plant Maintenance 130,931 Transportation 595,009 Tuition Fees 18,636 Capital Expenditure (non-allocable) 251,456 Other Operating Expenditure 28,350 Debt Charges on capital borrowing 550,658 Non-operating expenditure excluding transfers to reserves 12,513 TOTAL EXPENDITURE $ 6,754,660 RECOVERY OF EXPENDITURE Other school boards $ 7,670 Government of Ontario, tuition fees and miscellaneous 15,772 Individuals 280 (1)Other Revenue, excluding transfers from reserves 3,228 TOTAL RECOVERY OF EXPENDITURE 26,950 NET EXPENDITURE $ 6,727,710 Financing of Net Expenditure: Government of Ontario (2) General Legislative Grants 5,110,680 Local 'Taxation 1973 Over (under) requisition 20,883 (3)Local taxation raised in 1974 1,519,425 Decrease (increase) in reserve 1,540,308 Net Under (Over; Requisition Required to be Applied to 1975 Taxation 76,722 TOTAL $ 6,727,710 Statement of Source and Application of Capital Funds for the year'ended December 31, 1974 SOURCE Unexpended funds at beginning of year $ 9,415 Capital Expenditure from the revenue fund 337,404 Federal sales tax refund . . 3,869 Balance at the end of year not permanently financed 124,628 TOTAL 4 75,316 APPLICATION Fixed assets and work in progress Buildings,.....387,967 Furniture and equipment 87,349 .... - . ...... „ , „ , ....... .... . ....... ... $ 475,316 'TOTAL 586,512 fees and 28,201 25,272 2,244 $ 642,229 5,990,650 $ 4;4718.879 1,595,103 Lucan churches SETS RECORDS - Anne Revington, a grade 12 student at Medway high school recently won three individual events in the Middlesex track and field meet and equalled the Ontario record for high jump. Anne, the daughter of Mr. and Mrs. Leroy Revington of Lucan is shown above with the ribbons and medals she has recently won. T-A pho 0 MAKE SURE YOU HAVE YOUR "Casino Night" TICKETS Friday, May 30 8:00 p.m. LUCAN COMMUNITYCENTRE 7 A project of Lucan and District Lions Club Pentecostal Holiness On. Saturday the members of the Women's Auxiliary attended the all day conference W.A. convention at Wellington Rd. Holiday Inn, London. The world W.A. president, Mrs„ Carl Isaac presided for the morning business session and was the speaker for the af- ternoon, At the Sunday morning service John Armitage led the singing and Pastor Assistant Bill Cochrane gave the an- nouncements. At the evening service, choruses were enjoyed, again led by John Armitage. His wife, Lorraine, accompanied him on the piano and also sang a duet with her sister, Mrs. Doris Tollefson of Clarkson. Joan Lockyer sang a solo, accompanying herself on her guitar, and Cathy Hopps also sang a solo, Mrs. Carl Isaac spoke briefly saying if we can live one day at a time instead of worrying about the future, keeping the face of Christ straight before us, we will soon reflect His likeness in our lives and people will see Him in us. United The morning service at the United Church was cancelled in order that the members could attend the 110th anniversary of the Clandeboye U.C. and also celebrate with them the 50th anniversary of church union. Rev. W. C. Tupling former minister was the guest preacher and the many members of the Lucan congregation enjoyed renewing old friendships with Mr. & Mrs. Tupling. At the Gospel Sing on Sunday evening, Calvin Jackson, of London, delighted those present with several trumpet numbers, accompanied on the piano by Mrs. Jim Robertson, Many old favourites were sung during-the hour, with Rev, Ewart Madden leading the singing. Next Sunday, Confirmation for the 1975 class will be held at the morning service, At 7:30 there will be a repeat presentation of the Bach Cantata "Out of the Depths Call I Unto You" with combined choirs and guest soloists. If you 'missed it a few weeks ago or at Zurich, or wish to hear it again, be sure to come. The 50th Anniversary Com- mittee met on Monday evening at the home of Ron King to finalize plans for the 113th anniversary of the Lucan Church and the 50th anniversary of the United Church of Canada; On StindaY, June 8 at 11:15 p.m. Mr. Evan McGugan, UC. Layman and general manager of the Western Fair Association will be the guest speaker. The choir will sing "Gloria In Excelcis" an anthem composed by the music director, Paul Kight, especially for this. event. Calvin .Jackson of London has been invited to be the guest trumpeter, MeMbers are invited to share in a "finger" luncheon following the service, by bringing sufficient for their family plus guests. The U.C.W. will serve tea, Open Session was held at the Sunday School to permit those teachers who wished to do so, to attend Church at Clandeboye. Two filmstrips were shown, one for the little people "God's Wonderful World", "How our church began" was shown to the older children. Members of the junior girls class are taking orders for the Anniversary C.C. mugs with crest and 1925-1975, as an M. & S. project. The Posters made by members. of four Sunday ChtFch School, classes on the 50th anniversary theme were judged And the winners are: primary girls Jennifer DeGraw.. And Sheila Jones working together; primary boys - Paul Lenkin; junior girls Jackie Green; and junior boys - Raymond Hall. The girls will receive Anniversary coffee spoons and the boys .Anniversary coffee mugs. May 29, 11.975 ,Page Sunday, June 22 at 3 p,nt, Was, chosen as the date for the Church Family Picnic, to celebrate the 50th yek of Union, at the Lions. Club Park, Various committees were set up for sports for all .ages. Families are asked to bring a picnic supper to be shared.