HomeMy WebLinkAboutThe Exeter Times-Advocate, 1976-06-24, Page 19We guarantee that it
PAYS
to shop our Grand Opening Sale still on at
'Grand Bend Decorating. Save on everything
including paint . . •
EXTERIOR
MOORGARD
LATEX
Reg. $16.95
ONLY 1 3.95
MOORE'S EXTERIOR
GLOSS
HOUSE PAINT
Reg. $17,95
ONLY 1 4or5
. . and wallpaper from $3.95 a double roll
up, carpet and hard surface flooring and more
Daily 8:30 to 6:00 Fridays till 9:00
111111111 ( Ilk,"
MOM
GRAND BEND
DECORATING
38 Main St 238-8603
Times-Advocate, June 24, 1976 Page 19
NOTICE
To Property Owners
Destroy Weeds
Notice is hereby given to all persons in
posession of land in accordance with the
weed control act, 1972, section 4, numbers
11, 14 and 20 and amendments thereto that
unless noxious weeds growing on their land
within the municipality of Grand Bend ore
destroyed by date of July 2, 1976 and
throughout the season, the municipality may
enter upon the said lands and have the weeds
destroyed, charging the costs against the land
in taxes as set out in the act. The co-operation
of all citizens is earnestly solicited.
Council of the
Village of Grand Bend
• -64 2
Chief Executive Officer Chairman of the Board
Under sub-section 8, section 203 of the Education Act, The Lambton County Board of Education, publish the following financial information.
The Lambton County Board of Education
Financial Statements For Year 1975
AUDITORS REPORT
BALANCE SHEET, DECEMBER 31, 1975
To the Supporters of
The Lambton Board of
Education
We have examined the
balance sheet of the Lambton
County Board of Education as
at December 31, 1975, the
revenue fund statement of
operations and the capital
fund statement of operations
for the year then ended. 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.
Grants and subsidies re-
ceivable from the Govern.
ment of Ontario are subject to
final calculation by the Minis-
try of Education, Ontario.
In our opinion, subject to
the approval of the calcu-
lation of the grants, these
financial statements present
fairly the financial position of
the Board as at December 31,
1975 and the results of its
operations for the year then
ended, in accordance with
accounting principles gener-
ally accepted for Ontario
School Boards applied on a
basis consistent with that of
the preceqing year except for
the change- in accounting for
fixed assets as described in
Note 1.
The accompanying notes form part of this statement.
REVENUE FUND STATEMENT OF OPERATIONS
For The Year Ended December 31, 1975
Elementary •
c)
Chartered Accountants
Sarnia, Ontario
May 28, 1976.
Licence Number 358
CAPITAL FUND STATEMENT
OF OPERATIONS
Year Ended December 31, 1975
Expenditure
Business administration
Computer services
Instruction
Educational services
Attendance, health and food services
Plant operation and maintenance
Transportation
Tuition fees
Capital expenditure (non allocable)
Other operating expenditure
Debt charges on capital borrowing (Note 7)
Provision for reserve for working funds (Note 3)
Provision for reserve funds (Note 4)
Non-operating expenditure
Total expenditure
Recovery of expenditure
Other school boards - tuition fees and miscellaneous
Government of Ontario - tuition fees and miscellaneous
Government of Canada
Proceeds on sale of school site
Other
Net expenditure
Financing of net expenditure
Government of Ontario - general legislative grants
Local taxation
Previous year's over - (under) requisitions
Local taxation raised in the current year
Decrease in reserves and reserve funds
Total
Net under (over) requisition for year
Adjustment to prior years' grants (Note 6)
1 9 74 (over) under requisition not yet applied
To be applied to future year's taxation:
Net under (over) requisition
The accompanying notes form part of this statement.
Secondary -
1975 1974
$ 310,897 $ 239,781
63,067
15,899
10,805,404
9,337,806
179,493
164,425
96,978
90,147
1,823,085
1,662,074
833,170
757,031
706,854
603,126
346,283
57,052
47,474
7,174
761,623
794,899
65,000
65,000
138,165
225,000
54,659
52,650
16,232,152
14,072,064
28)
7,269
6,577
153,571
138,790
38,165
196 871
120,015
395,846
265,382
$15,836,304
$13,806,682
10,201,375
8,748,594
99,474)
48,928)
5,673,828
4,965,117
23,777
114,734
15,799,506
13,779,517
36,798
27,165
37,880
99,474
$ 94,807 ($ 91,028) $ 101,643 $ 126,639
NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1975
1. Accounting policies
(al Accrual accounting
The accrual method for reporting revenue and expenditure has been
used with the exception of reporting of charges for net long term
liabilities. Printipal and interest charges are not accrued from
the due date of payment to the end of the fiscal year.
(b) Fixed asset.
Fixed assets are charged to current expenditure unless financed
by long term debt. Principal and interest charges on net long term
liabilities ate included in expenditure in the period due, Fixed
asseta are included in the balance sheet only to the extent of the
balances of the related net long term liabilitiea outstanding and
of the related temporary financing at the end of the fiscal year.
(e) Net long term liabilities
Debentures are recorded as unmatured debenture debt in the year
of sale.
4, Reserve Surd
In accordance with 0 Ad, of the Education. Ayt • 1474 a
reserve lend wan established in 19.4 to aid it the financing of the nee
Educations entre•
38,165 38,165
212.10 21„.210 142,420
148,210
3$14,I75 710,585
.4.772
V.02 --..±Wat
5 121,433 6 360,9411 $ 683,031
Funds have not hien segregated di requited by Section 106 of the Municipal
Act
5 y,ntingent liabllete - sick leave benefits
finder the nib leave, benefit pled unused sick leave tan accumulate and
employees may bet,* retitled to a cash payment when they leave the board's
employment.
She accumulated dare ro the 'extent that thev mac be used to dtterhine
the cash parasol to an eaolovoe on ter•ination have a menetery value of
SA8.486 at tte end of rrs- vear. No provision has been Made on account of
the sick leave benefit plan
ROVO ON BEHALF OF THE BOARD
6. Adjustment of prior year grants
As o result ol .hanges in grant calculations, grants available for
1974 were decreased by 570,860 in the elementary panel and 132,060 in the
secondary panel. The adjustment of the grant necessitates 4 compensating
change in the amount requited through local levies for those years.
However due to the time lag between completion of the fiscal year and
final calculations of the Applicable grants, any adjustment of prior years
has been applied in the year in which final approved grants are determined.
Santa the
the
adjustment to 1974 grant' was not available at the time final
requisitions were determined for 1975, the under requisition is to be
applied to 1976 requisitions as provided in Section 212 of The
Fducation
7. Debt charges and capital loan interest
The expenditure for debt charges and capitol loan interest reported
in the revenue fund statement of operations includes principal and
interest payments as follows ,
Flementary Y!!s14Y1-
Prineipal payments en long term liabilities $ 553,985 5 346,653
Interact payments on long term liabilities 449,104 .364,170
81,003,190 8 761,623
8. Contractual obligations and contingent liabilitiee
Prior to the end of the year the gourd had contracted for the construe
lion of a warehouse building. The contract amounted to 2110051 end will be
financed nut of reserve funds.
pursuant to the term. of the tederal.frovincial agteen.nt of January 13,
1976, the Doand is subject to Part lc of the guidelines lteued under the
Federal Anti•Inflation Att. Accordingly. aalatioft cod woes paid by the
Board are subject to reetraint under the Federal program.
9.
Balance. January 1. 1975
Add addle lOcal provision tot
reserve fund raised threugY
levies in 1975
Proceeds on sale of school
site allocated to fund
Interest
less ttacefer to revenue fund
Belem* ht,eater 11, 1975
llementery Seliondaty.
$ 225.000 I S 450,000
wa,000 100.000
290,000
Current assets
Cash
Investments, at cost
Accounts receivable
Municipalities
Under - requisitions - (elementary)
Under - requisitions - (secondary)
Government of Ontario
Other
Inventory, at cost
Prepaid expenses
Due from revenue fund (Note 2)
Capital outlay to be recovered in future
years (Note 1)
Current liabilities
Bank and other short term borrowing
Accounts payable and accrued liabilities
Municipalities
Over - requisitions (elementary)
Other
Due to other funds (Note 2) $ 33,114
33,114
Net long term liabilities 12,424,603
Reserve for working fundOt(Note 3)
Equity in reserve and trust -'funds (Note 4)
_ _ 12222,630 1.2,457,717
S 3,350,722 S 1,586,632 L12,344,963 512,457,717
L1A13TLIy1F.8
S 1,022,720 $ 421,431
$ 683,031 S 450,000 $ 6,404 $ 6,471
$ 3,350,722 $ 1,586,632 $12,344,963 $12,457,717 $ 683,031 $ 450,000 S 6,404 $ 6,471
3,090,722 1,456,632
5,145 $
3,95-
1,103,001
3,001
94,8O7
111,643 126,039
91:,158
564,964 311,370
234,179 206,905
e4,112 27,602
3,350,722 1,586,632
1,261,429
?MEV
uvcnue Fund Capital Fund
1975 1974 1975 1974
R'$t'rve Fund
1975 1974
806,573
260;000 130,000
91,028
526,078
418,095
$12,344,963
122,333
122,333 683,031 450,000 0,404 6,471
683„031 S _ 4.50,000
683_,031 S 450,000 --6,404 $ 6,471
Trust Fund
1975 f 1974
173 s 201
5,022 5,061
1 1 209 1,209
Capital expenditure
Fixed assets and work in progress
relocation centre
Huildings
Furniture and equipment
School sites and improvements thereto
pupil transportation vehicles
Less Federal sales tax refund
s 47,554
1,136,114 9 412,614
188,243 142,384
81,786 98,910
_ 2S)d..544 __. 1.'4095
1,567,231 873,103
- 2,629
'total capital expenditure .I1,153.90 b 870,474
Capital financing
Unexpended funds or (balance not. permanently
financed) January 1
- Llementary IS 5,442) .$ 45,125
- Secondary ( 27,672) 254,406
Long term liabilities issued end sold 871,000
Capital expenditure trots revenue fund 837,737
contributions from Government of Canada :.'2,445
Balance not permanently financed or
(unexpended funds - December 311
- Elementary ( 20,8411 5,442
- Secondary ( 101,442. ALLEI,
51553,222 s 67i`,474
415,384
2. lane to (from) other funds
Capital
Trust
Reserve
3. Reserve for working funds
Balance. January I, 19/5
Add: additional reserve fog 'weans
' funds eateblished is accordance
iii 111 See.205 (1)161 of the
Education Act - 19/4
Balance December Al, 19/5
1975 1974
$ 289,031
21,962
10,157,096
271,021
22,127
1,973,173
824,189
12,688
203,707
46,835
1,003,190
65,000
100,000
64,-150
15,054,169
$ 232,089
3,362
8,527,095
257,553
20,637
1,795,973
798,702
6,783
105,073
7,174
1,049,614
65,000
225,000
63,699
13,157,754
34,578
3,809
296,783
11,146
346,316
$14,707,853
8,163,876
60,936)
6,405,233
23,777
14,531,950
175,903
70,868
( 151,964)
31,580
2,230
234,427
11,231
279,468
$12,878,286
7,116,987
275,178
5,582,189
55x896
13,030,250
( 151,964)
60,936
5 122,533 (8 31,110
1,209 1,209
683,031 _450,000
$ 806,573 $ 418,096
Elemenlegy $ctondary
$ 65,000 S 65,000
65.000 _6$1.000
5 130,000 $ 130,000
$ 130,000
130,000
260,000
Needed bigger buffalo
Buffalcifest again a success
Grand Bend's second annual
Buffatoburger Fest held last
weekend was a success despite
rainy weather Friday night and
Saturday morning.
Dave Nelder, treasurer of the
Chamber of Commerce who
sponsored the event, says they
made around $7,000 this year
compared to $4,800 last year.
The money is used for the better-
ment of the community, especial-
ly in advertising and public
relations for the town. The
Chamber has plans to spend
about $2,500 to purchase the
flashing sign now on the corner
of highways 21 and 81.
The children's treasure hunt
scheduled for 10 a.m. Saturday
Twenty-live Women's Institute
members and friends gathered
Thursday evening at the Green
Forest for a dinner meeting.
A short business period
followed at which Mrs. Alec
Hamilton reported on attending
the Officers Conference at the
University of Waterloo and the
District Annual held at Crediton
in May.
The Zurich fair WI exhibit was
discussed for July.
Mrs. Olive Miller was in charge
of the social period with surprise
games. Lucky chair was won by
Mrs. J. Smeekens. Sticker on pin
card was won by Mrs. Marge
Mason. Closest birthday to date
was Mrs. Ruth Hendrick, Tickets
were drawn for age groups.
Closest to 40-50 years was Mrs.
Alan Walper, closest to 50-60
years was Mrs. J. Smeekens and
closest to 60-70 was Mrs. Manford
Luther. Over 70 age was Mrs.
Walter Fassold. Prettiest long
hair-do was won by Mrs. Rosie
Grigg.
Special guests were 4-H leaders
Mrs. J. Smeekens and Mrs. Alan
Walper. They reported the next 4-
H project in the fall will be the
"Cereal Shelf."
This was the last WI meeting
until September.
Church of God
The Church of God ladies held
their June meeting Thursday at
the home of Mrs. Harold
Chamberline.
Smile
A woman driving the car pool
in a station wagon carrying ten
children ran a stop sign. A
policeman whistled and yelled.
"Don't you know when to stop?"
"Officer," she yelled back
indignantly, "I'll have you un-
derstand these are not all mine."
NOW
is the time to buy
NEW FURNITURE
We're continuing our
fantastic inventory
reduction sale
Whiting's
Warehouse
morning was hindered by the
cold, wet weather conditions.
As a result the prizes were
handed out inside the tent
rather than buried in the sand
as had been originally planned.
However, the children's races
and relays on Sunday afternoon
were a big success. The children
enjoyed themselves while com-
peting in sack races, spoon and
egg relays, tug of wars and good
old foot races. Bottles of pop
were the most numerous prizes,
but some cash prizes were also
awarded.
The flea market and craft
shows did not fair too well as
they were rained out on Satur-
day, However, Sunday was a
Mrs, Morley Desjardine
conducted the worship service on
the theme of summer, the beauty
of things and vacations,
The topic was taken by Mrs.
Katie Vincent and she spoke on
missionaries Mr. & Mrs. Philip
Kinley who are serving in Japan.
A good crowd attended the
decoration service at Grand Bend
United Church Cemetery
Sunday afternoon.
Ed Gill was master of
ceremonies, Rev. H. Moore was
speaker and Alex Desjardine led
in group hymn singing.
Mrs. Marie McKinnon sang a
solo, "Beyond the Sunset" ac-
companying herself on guitar.
Personals
Tom Belt of Milford, Michigan,
and Mrs. Lily Moore of Detroit
spent the weekend with their
sister Mrs. Leroy Bariteau.
Mr. & Mrs. Alec Hamilton
attended the Lambton County
Historical meeting Thursday
evening at Petrolia,
Art Baker is a patient at
University Hospital, London,
where he had a heart pacer
implanted.
Mr. & Mrs. John Carter of
Hamilton visited recently with
their aunt and uncle, Mr. & Mrs.
Alec Hamilton.
Senior citizens thank all those
who kindly donated to their table
at the Buffalo Burger fest days.
& Mrs. Ray Cooper of Exeter and
Mr. & Mrs. Maurice Desjardine
of Huron Park.-
' Rev. &. Mrs: •Tohn Can-ipbell,.
Debbie Snider and Mr. & Mrs.
George Winegarden, Jamie and
Jackie, all attended the Inter-
national convention of Church of
God last week at Anderson
Indiana, Mr. & Mrs. Lovie
Walker of Pontiac, Mich., stayed
with Laura Lee and Douglas
Campbell while their parents
were away.
Mr. & Mrs. Jim McLaren of
Clinton spent the weekend with
his sister, Mrs. Raymond
Kading.
Sunday visitors with Mr. &
Mrs. Alvin Statton were Mrs.
Mabel Desjardine of Shipka, Mr.
Outdoor services at the United
Church will begin July 4,weather
permitting.
Mrs. Ross Meyers, of Toronto,
will be playing the organ for the
summer at St. Johns by the Lake
Anglican church.
Around 150 attended the
pancake breakfast, Saturday
morning at the United Church.
Sunday visitors with Mr. &
Mrs. Roy Morenz and girls were
Mr. & Mrs. Ernest Morenz,Cheri
and Michelle of London, Mr. &
Mrs. John McNish of Lake Orion.
bu.sy day as the sunshine drew
the crowds onto the main streets
Mr. Nelder estimated between
7,500 and 10,000 people attended
the event and went through
7,000 buffalo burgers and 1,000
hamburgers. The Chamber had
1,300 lbs. of buffalo meat on
hand, but they ran out about
10 p.m. Saturday night. There
were also 15,000 mugs sold in
the tent over the weekend.
"We weren't quite geared for
the crowd we got", says Mr.
Nelder and a few changes will be
made before next year's Fest.
More security and better control
at the gates is a must as the
tent on Saturday evening was
extremely crowded. Mr. Nelder
also says more washroom facili-
ties will be planned with more
located inside the complex itself.
Pat Ryan of London won the
$100 Olympic gold coin in the
free draw held at 11 p.m. Satur-
day night.
IT'S NOT YOUR TYPICAL UNIFORM for an OPP officer who requested he not be identified, but it was
entertaining and imaginative enough to keep a large group of youngsters entertained at the Children's Day
show at Buffaloburger fest in Grand Bend Sunday monring. T-A photo.
Women's Institute
complete season