HomeMy WebLinkAboutThe Exeter Times-Advocate, 1977-09-01, Page 16Page 16 Times-Advocate, September 1, 1977
CORN TALK - George Jones of Stewart Seeds discusses a new breed of hybrid to sales representatives
Alex Smith of Ailsa Craig and Ross Adell of Poplar Hills accompanied by his young son, Scott, at their an-
nual "Corn Day". photo by Scheifele
TRACK AND FIELD PARTICIPANTS - Members of the East Williams track and field club who participated
in the recent Pentathalon are shown above, Back, left, instructor P. Bouchard, Elizabeth Ingham, Annie
Thuss, Mike Hooper, Jeff Boutche and instructor G. Welshman. Front, Melanie Muxlow, Kelly McFadden,
Lorna Carlyle and John Aszalos. Photo by Scheifele
TOWNSHIP of STEPHEN AUDITOR'S REPORT
TO: The members of council, inhabitants and
ratepayers of the Township of Stephen
We have examined the financial statements of the
Township of Stephen and its local boards for the year ended
December 31, 1976. Our examination was made in accordance
with generally accepted auditing standards and accordingly in-
cluded such tests and other procedures as we considered
necessary in the circumstances.
In our opinion, these financial statements present fairly the
financial position of the Township of Stephen and its local
boards as at December 31, 1976 and the results of its 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.
Li stowel, Ontario MacGillivray & Co.
April 27, 1977 Chartered Accountants
License No, 514
Statement of Revenue and Expenditure
for the year ended December
Accumulated net revenue (deficit) at
the beginning of the year
31, 1976
1976
Actual
102,424
1975
Actual
$
41,408
EXPENDITURE
General municipal purposes
General government 113,277 60,618
Protection to persons and property 62,785 39,128
Transportation services 270,460 265,617
Environmental services 21,379 13,792
Recreation and cultural services 34,735 16,733
Planning and development 158,371 115,064
661,007 510,952
Region or county purposes 208,788 188,588
School board purposes 403.052 304,591
Total expenditure 1,272 847 1,004 131
REVENUE
General municipal purposes
Taxation 133,126 207,283
Payments in lieu of taxes 41,288 46,097
Ontario grants 181,604 174,480
Other grants 1,000
Other 200,095 152,817
556,113 581,677
Region or county purposes
Taxation 165,742 137,705
Payments in lieu of taxes 5,880 7,337
Ontario grants 27,429 30,417
199,051 175,459
School board purposes
Taxation 398,621 306,642
Payments in lieu of taxes 225 178
Other 725 1,191
399,571 308,011
Total revenue 1,154 735 1,065 147
Accumulated net revenue (deficit) at
the end of the year (15,688) 102,424
Analysed as follows:
General reirenue (29,241) 65,651
Region or county (100) 9,637
School boards (160) 3,321
Special areas 15,790 14,368
Local boards (1,977) 9,447
(15,688) 102,424
Statement of Capital Fund Operations
for the year ended December 31,
Unfinanced capital outlay (Unexpended
capital financing) at the beginning
of the year
1976
1976 1975
Actual Actual
$ $
80.100 Nil
CAPITAL EXPENDITURE
General government 589 836
Protection to persons and property 12,151 1,550
Transportation services 210,621 36,412
Recreation and cultural services 13,866 2,187
Planning and development 413,900 400,800
Total expenditure 651,127 441 785
CAPITAL FINANCING
Contributions from the revenue fund 81,273 40,985
Long term liabilities incurred 441,100 320,700
Other 22,923
Total capital financing 545,296 361,685
Unfinanced capital outlay (Unexpended
capital financing) at the end of the year 185,931 80,100
Balance Sheet
as at December 31, 1976
ASSETS
1976 1975
Current assets
Cash
Accounts receivable
Taxes receivable
Other current assets
46,748
104,458
81,256
10,000
31,786
154,377
92,546
3,118
242,462 281,827
Capital outlay to be recovered in
future years 1,482,828 1,084,187
Other long term assets 9,403
1,734 693 1,366 014
LIABILITIES
Current liabilities
Temporary loans 219,360 138,400
Accounts payable and accrued
liabilities 83,979 42,548
Other current liabilities 17,480 8,555.
320,759 189,503
Net long term liabilities 1,296,897 1,004,087
Reserves and reserve funds 132,725 70,000
Accumulated net revenue (deficit) and
unapplied capital receipts (15,688) 102,424
1,734 693 1,366 014
Notes to Financial Statements
For The Year Ended December 31, 1976
1. Accounting Policies
(a) Statement of Revenue and Expenditure
This statement reflects the revenues and expenditures
of the revenue fund of the municipality and includes the
activities of all committees of council and local boards
for general municipal activities. The local boards
whose activities are included are as follows:
Stephen Township Community Centre Board
Centralia Centennial Community Centre
Crediton Community Park Board
Dashwood Community Centre Board
(b) Statement of Capital Operations
This statement reflects the capital expenditures and the
related capital financing to be recovered from general
municipal revenues of the municipality and its local
boards described in note 1(a).
(c) Balance Sheet
This statement reflects the assets and liabilities of the
revenue fund, the capital fund, reserve funds and the
local boards described in note 1(a), The assets and
liabilities for municipal enterprises as defined in note
1(e) are not reflected except to the extent of the related
net long term liabilities and capital outlay to be
recovered in future years.
(d) Fixed Assets
The historical cost and accumulated depreciation of fix-
ed assets is not reported for municipal purposes.
Instead the "Capital outlay to be recovered in future
years" which is the aggregate of the principal portion of
unmatured long term liabilities, capital funds
transferred to other organizations, and the cost of
capital projects not yet permanently financed, is
reported on the "Balance Sheet".
(e) Municipal Enterprises
The revenues and expenditures for municipal enterprise
activities are not reflected in the "Statement of
Revenue and Expenditure" except to the extent that
their expenditures are recovered from general
municipal revenues.
Municipal enterprise activities are those activities
whose costs are substantially recovered from service
charges On the users and are as follows:
Stephen Township Water Area #1
(f) Charges for Net Long Term Liabilities
Debt retirement costs including principal and interest
are charged against current revenues in the periods in
which they are paid. Interest charges are not accrued
for the periods f.rom the dates of the latest interest
payments to the end of the financial year.
2. Capital Outlay to be Recovered in Future Years
(a) Some capital outlay to be recovered in future years does
not represent a burden on general municipal revenues,
as it is to be recovered in future years from other
sources.
Special charges on benefitting
landowners $1,422,161 $1,022,349
Municipal enterprises 60,667 61,838
$1,482 828 $1,084,187
(b) Capital outlays, including fixed assets and the transfers
of capital funds in the amount of $81,273 which have been
financed from general municipal revenues of the
current year, are reported on the "Statement of
Revenue and Expenditure".
3. Reserves and Reserve Funds
(a) Provisions for reserves amounting to $50,000 are
reported on the "Statement of Revenue and Expen-
diture" classified under the approriate headings.
(b) The total balance of reserve funds is $132,725 and is com-
prised of the following:
Reserves
1976 1975
for working capital $120,000 $ 70,000
for fire truck 3,200
Reserve funds
for the Ontario Home
Renewal Plan 9,525
$132,725 $ 70,000
4. Net Long Term Liabilities
(a) The balance for net long term liabilities reported on the
"Balance Sheet" is made up of the following:
Total long term liabilities incurred by the
municipality including those incurred on
behalf of former school boards, other
municipalities and municipal enterprises
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 for a principal amount of
The total value of sinking funds and the
balance in the Ministry of the Environ-
ment Debt Retirement Fund which have
been accumulated to the end of the year to
retire the outstanding long term liabilities
included above, amount to (4,542)
Net long term liabilities at.the end of the year $1,296,897
(b) Of the net long term liabilities reported in -(a) of this
note $723,115 in principal payments are payable from
1977 to 1981, $522,015 from 1982 to 1986 and $51,767
thereafter and are summarized as follows:
1977
to
1981
1982 1987
to and
1986 thereafter
From benefitting
landowners $718,665 $517,565 $-
From municipal
enterprises 4,450 4,450 51,767
$723,115 $522,015 $ 51,767
5. Accumulated net Revenue (Deficit) at the end of the year
Accumulated net revenue of $15,790 at the end of the year
reported on the "Balance Sheet" includes amounts related
to benefitting landowners which are not available as general
municipal revenues, and are analysed as follows:
Special areas
1976 1975
- police village of Centralia $ 4,695 $ 8,032
- police village of Crediton 4,093 84
- police village of Dashwood 7,002 6,252
$15,790 $14,368
6. Charges for net Long Term Liabilities
Total charges for the year for net long term liabilities were
as follows:
$161,782
Of the total charges shown above $155,274 were paid from
general municipal revenues of the municipality and are in-
cluded in expenditure on the "Statement of Revenue and Ex-
penditure" classified under the appropriate functional
headings. The remaining $6,508 were recovered from
municipal enterprises for which the related net long term
liabilities were incurred, and are not reflected in the state-
ment.
7, The Anti-Inflation Act
The municipality, its local boards and commissions are by
agreement between the Government of Canada and the
Government of the Province of Ontario dated January 13,
1976 subject to The Anti-Inflation Act (Canada), and the
national guidelines, This legislation limits increases in com-
pensatibn paymentS effective October 14, 1975. No prevision
has been made in these financial statements for any possible
effects of the legislation on.this municipality.
$1,563,883
(262,444)
1976 1975
Principal payments including contributions to
sinking funds and to the Ministry of the
Environment
Interest
$120,809
40,973
$ 91,747
31,638
$123,385
•
AL4S0 COMPLETE to
Vi` COVERAGE FOR
Home * Farm
* Life
* Commercial
* Automobile
* Registered Retirement Plans
CONTACT
Bev Morgan Insurance
Agency Ltd.
238 Main St. Phone 235-2544 Exeter
Across from Savewciy Lumber
TRAMPS!
CLEARANCE SALE OF
QUALITY TRAMPOLINES
SEPT. 3&4
7' x 13' MODEL
$325 .0
ea
10 1/2' x 61/2' MODEL
\NA-8-37555
$225 °ea
SALE STARTS 10:00 A.M.
ONLY 56 AVAILABLE
FIRST COME, FIRST SERVED
Look for the sign
1 1/4 miles south of
Hensall
on Hwy 4
FOR MORE INFORMATION TELEPHONE
(519) 262-2730 WEEKDAYS
By JOY SCI-tEl.FBLB
Thursday Stewart Seeds of
Ailsa Craig held their annual
"Corn Day": a day set aside each
year to update their sales
representatives from all over the
province on their latest
developments and current
research. '
For many the good weather
was a disadvantage as it held
forth the necessity of threshing,
but for this local reporter it af-
forded opportunity to gain in-
sights into the fascinating and
complex operations of Stewarts.
Even living close to the heart of
many of its operations in Ailsa
Craig, one had little idea of the
overall picture.
"All seed in Canada must be
registered", explained Stewart
Seeds Tom Crozier over a
delicious box lunch which over a
hundred and twenty sales
representives enjoyed.
"It must be tested and meet
Dealers attend Stewart 's annual corn day
Pick champs
in pentathlon
To conclude the summer period
of training and competition, the
East Williams track and field
club held a pentathlon Meet at the
East Williams Public School at
Nairn August 22.
Mike Hooper succeeded in
achieving the highest number of
points among the competitors as
well as being the high male
competitor. Annie Thruss was the
winner of the highest total points
in the girls' division.
Members competed in a total of
eight events, each being awarded
a number of points based on their
degree of success. The events
included a 400,200 and 100 metre
dash, the shot put, the discus
throw, long and high jumps and
1501) 800 or 400 metre dash.
Winners Mike Hooper and
Annie Thruss were presented
with plaques in recognition of
their success, and a trophy was
awarded to Mike Hooper by the
Ailsa Craig Business Association
at the top competitor.
By MRS. WILLIAM ROHDE
THAMES ROAD
About 30 people attended a
picnic supper at the home of Mr.
& Mrs. Glen Stewart on Sunday
for a going away party for Mr. &
Mrs. Wes Reid and girls before
their departure for their home
near Palmerston. They were all
presented with gifts. Wes and
Ann both replied, We are sorry to
have them leave our community
but best wishes are extended to
them in their new venture.
Brinsley man
dies in crash
By GORDON MORLEY
Barry Hyams 30, Brinsley was
killed Friday when the van he
was driving collided with a dump
truck. Sympathy is extended to
his wife.
Personals
Mr. & Mrs. Gordon Keith,
Paisley visited with Mrs. Tom
Coursey and family, Sunday.
Bill and Kathy Prest and friend
attended the Toronto Exhibition
last week.
Mr. & Mrs. Jack Trevithick and
Ruth went to Kingston on Sunday
to visit with Mr. & Mrs. Don
Newey, Colleen and Carol Newey
returning back to their home with
them.
George Hodgson, London,
former McGillivray resident,
now an employee of Bell Canada
was on escort duty for moving the
large serge tanks to the
McGillivray reservoir.
Cindy Prest and Sue Manders
spent the weekend at
Collingwood.
Word was received of the death
of Mrs. Olive Hodgson
(Trevithick)of Red Deer,
Alberta who passed away
Tuesday. Sympathy is extended
to her relatives around this area,
Mr. Peter Snell will commence
his duties as minister next
Sunday in Brinsley United
Church at the usual time.
Persona Is
Mrs. Marguerite Gibson,
London visited Wednesday with
Mr. & Mrs. William Rohde, In the
afternoon the ladies called on
Mrs. Alex Rohde in Mitchell.
Mrs, Lloyd Ballantyne, Mrs.
Gerry Grubb, Mrs. Ross Hodgert
and Mrs. William Rohde were on
the Kirkton Horticulture Bus Trip
Saturday to Brantford.
They visited different parks
where the flowers were beautiful,
the Bell Homestead l'or lunch and
attended 125th Annual Flower
Show at the Civic Centre. They
visited the Mohawk Chapel and
also saw the tomb of Capt. Joseph
Brant and Capt. John Brant.
Portions of the Chapel were
destroyed by fire in 1975 and
1976. The chapel has been
restored. The Pine Tree of Peace
has been burned. The Red and
Yellow Crapet and the Ten
Commandments have been
replaced. The group had our
supper at the Ponderosa near
Woodstock which brought an
enjoyable day to a close.
Mr. & Mrs. Barry Jeffery and
Michael visited Santa's Village at
Bracebridge and stayed at the
family cottage at Honey Harbour
over the weekend. Mrs. Whit-
more of Toronto stayed with
Patrick Jeffery at the Jeffery
home.
Mr, & Mrs. Lorne Ballantyne,
Brenda and Wendy attended the
C.N.E. at Toronto on Sunday and
Monday.
Mr. & Mrs. Larry Ballantyne,
Deanne and Cheryl, Mr. & Mrs.
Lloyd Ballantyne attended a
family get together at the home
of Mr. & Mrs. William Harper of
Mitchell,
David and Robbie Ballantyne,
Thamesford are spending a few
days with their grandparents Mr.
& Mrs. Lloyd Ballantyne.
Mr. & Mrs. William Rohde
were supper guests with Mr. &
Mrs. Doug Rohde, Exeter on
Sunday evening.
Jack Hodgert, Miss Nancy
Richardson, Mr. & Mrs. Edwin
Miller attended a birthday
celebration for Mrs. Miller's
mother Mrs. Jennie Sutherland of
Mt.Brydges at the home of Mr. &
Mrs. Donald Clarke, Beechwood
Sunday, Mrs. Sutherland was
celebrating her 81st birthday
which was on the 30th of August.
Mr. & Mrs. Dave Millar of
Exeter visited on Monday
evening with Mr. & Mrs. William
Rohde.
Mr. & Mrs. Ken Duncan
received word on Sunday of the
passing of Wib Duncan at High
River Alberta in his 90th year
with interment in Highwood
Cemetery on Tuesday. He is
survived by his wife Jemima and
two sisters Mrs. Joanne Hartell
and Mrs. Nellie Carter, High
River.
A barbecue was held at the
home of Mr. & Mrs. Donald Bray
recently for a going away party
for Mrs. Wes Reid choir leader
who is leaving this community.
Mr. & Mrs. Ross Hargreaves
attended along with members of
the choir. Mrs. Floyd Stewart
spoke a few words and Agnes
Bray presented Mrs. Reid with a
gin. Ann replied.
Sunday School members are
asked to come at 11 a.m. on
Sunday and meet in their classeS
before going upstairs for a
combined service at 11:15 a.m,
Gabian Stone
Calcium Chloride
in 100 pound bags
Sand & Stone
Gravel
Stone for
Weeping Beds
EARL LIPPERT
TRUCKING LTD.
Crediton 234-6382
government standards before it
(VI be marketed", he elaborated.
"We are fortunate in. Canada to
have such legislation. Not all
countries provide farmers with
this prolec lion,"
Following the lunch the
representatives were divided into
four bus loads and taken on a tour
of the operations. One of the first
stops was in the Soya Bean field
where Tom Crozier explained the
advantages of newly developed.
strains and current research.
In the corn field, Gordon Jones
outlined the advantages of each
of the various varieties and in-
troduced three new brands
recently developed.
"Driving along the roadside
you may see some corn which
looks pretty scruffy, But it's for a
reason" he cautioned,
From the fields the buses drove
into Ailsa Craig where the
storage bins and dryers are
located, and the careful handling
and sorting of the seed explained
by Max Pool.
"It takes five to eight days to
dry the seed," he commented,
"depending on the variety,"
Ladies on bus trip
Honor departing Thames Road family