HomeMy WebLinkAboutThe Brussels Post, 1972-06-14, Page 5VILLAGE of .BRUSSELS auditor 's report 1971'
To the Menlbers of Council, and Ratepayers of
The Corporation of the Village of Brussels.
I have examined the 1971 financial statements of the Cor-
poration of the Village of Brussels and its local boards, which
are listed on the attached Index. My examination included a
general review of the accounting procedures and such tests of
accounting records and other supporting evidence as I con-
sidered necessary in the circumstances:
In my opinion these financial statements present fairly the
REVENUE 1971 1970
$ $
Taxation 62,166 57,816
Contributions from other governments- 47g44 47,986
Other 10,083 7,501
Total Revenue 119,493 11.3,303
financial popition of the Corporation of the Village of Brussels
and. its local beards as at DegeMher'31st,. 1071., and the results ,
of their pperatione for the year then ended, in accordance with ,
accounting principles generally acceptedfOr Ontario municipalities.
applied on a basis .consistent, with that of the, preceding year.,
(Signed) A. M. Harper,
EXPENDITURE
1971
General government .. 9,764
Protection to persons and property 7,948
Public works 23,714
Sanitation and waste removal 2,170
Conservation of health 200
Social and family services 14,59 6
Recreation and community services 6,486
Community planning and development (15(1)
Financial expenses 9,354
Education 29,123
Region or county-share of expenditure 18,096
Total expenditure 121,301
Excess of revenue over expenditure for
the year
(Excess of expenditure over revenue for
the year) . (1,808)
Surplus (deficit) at the beginning of
the year 38,796
Egg prices.
to improve
The federal government's new
hen-slaughter program will mean,
higher egg prices if producers
make use of it, according to
Gordon Hill, President of the
Ontario Federation of Agricul-
tUre. 4 The program should have
come earlier and could offer
producers more," he said last
week, "but it will help if pro-
ducers use it. Egg prices will
continue low if farmers do not
sell some productive hens."
Mr. Hill noted that the fed-
eral program complimented the.
Ontario egg board's plan to buy
surplus eggs. "Egg buying and
price setting will only work if
Producers respond to the fed-
eral program by cutting back
their laying flocks.
"The egg industry is finally
sorting itself out," he said.
"Pro ducers in all provinces are
co-operating to develop sensible
foundations for the industry. They
will likely have a national egg
marketing agency with -market-
sharing quotas by year's end."
"Meanwhile Ontario should
quickly institute supply manage-
ment for eggs. The national
scheme ,will only work if Ont-
ario has an effective plan."
Summing up, Mr. Hill spoke
optimistically for the future of
egg producers. "Through their
organization, dedicated farmers
have worked out ways to im-
prove egg prices. After two dis-
astrous years, better times are
on the way."
City Groderich, Ontario
Date May 10, 1972
Licence Number 4223.
STATEMENT OF REVENUE AND EXPENDITURE,
for the year ended December 31, 1971
1970
8,6.37 '
8,492
21,394
3,472
16,093
3,427
7,318 •
28,124
16,034
112,991
312
38,484
Surplus (deficit) at theend of the year 36,988 38,798 Lodges hold
fashion show
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STATEMEkT OF CAPITAL FUND OPERATIONS
for the year ended December 31, 1971
Unfinanced capital outlay (Unexpended Capital Financing
.the year
capital financing) at the beginning of
Contributiots from the revenue fund.... 1,706
Capital Outlay (1,706)
Capital expenditure
Public works.. 1,706 capital financing) at the end of the year
Unfinanced capital outlay (Unexpended
•
ASSETS
CONSOLIDATED BALANCE SHEET
as at December 31, 1971
1971 1570. LIABILITIES
•
Current Asserts Current.Liabiltties •
Cash. • • 241,s23 21,723
Anaemia receivable. 12,314 13,337 Acceents payable and accrued liabilities 5,711
Tama receivable. . 111,6311 13,334
5,711 Over current wean 234 1,701
56,699 56,305 Net long term liabilities. -1710
Reserves and reserve funds ' 14,000
Capital outlay to be recovered in Surplus (deficit) and unapplied capital
future years..... . 7,816 10,091 receipts. 36,988
64,515 60,396
64,515
NOTES TO FINANCIAL STATEMENTS
Charges for Long Term Liabilities 3. Net Long Term Liabilities
Total charges for the year for net long term liabilities Total net long term liabilities incurred by the
were as follows: municipality and outstanding at the end of the year
Principal payments 2,275.01 amount to 81,815.75
Interest 546.54 Of the outstanding long term liabilities shown
above, the responsibility for payment of principal
$2,821.55 and interest charges has been assumed by the
Huron County Board of Education for a principal
amount of 74,000.00
Net long term liabilities at the end of the year $7,815.75
4. Capital OUtlay to be Recovered in Future Years
. Basis of Consolidation
assets and liabilities of the local boards of the municipality
liabilities of the revenue ftind and the capital fund. The
The consolidated balance sheet reflects the assets and
general revenues of the tniihicipality.
an amount of $2,900.00 is recoverable from municipal
enterprises. An amount of $4 )915.75 is to be charged to
Of the capital outlay to be recovered in future years,
have not been included.
Ida Burns Associates of Port
Credit, held their second succes-
sful demonstration in the
Brussels Legion Hall, Monday
evening under the auspices of
the Rebekah and I.O.O.F. lod-
ges.
The presentation, entitled
Fashion, Travel and Fun, showed
fashions through the decades in
clothing and Ford cars. Methods
of packing a suitcase to the best
possible advantage were shown.
A fashion show of clothing of
today included coats, suits, dres-
ses, lingeries, sportswear and
bathing suits of the trevira fab-
rics, kept the women and men
interested and delighted through.
out the programme.
Many door prizes were ghee
to the lucky ticket holders am
well as a free sample of colors*
to each lady preseet.
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4,506
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4,509
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7,cve
38,796
60,396
Of the charges shown above, $1,693.55 was paid from
the general revenues of the municipality and is included
in expenditures classified under the appropriate functional
headings. An amount of $1,128.00 was recovered from the
Public Utilities Commission - Water Supply System for
which the related net long term liability was incurred.
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THE BRUSSELS POST, JUNE 14, 1912-5