HomeMy WebLinkAboutThe Brussels Post, 1973-06-27, Page 14The Huron County Board of Education
For the year ended December 3.1 et, 197 2
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, 1972, and the Statements of Revenue
Fund. Revenue and Expenditure, and 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 account-
ing 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, 1972 and the
results of its operations and the source and application of its capital,
funds for the year then ended, in accordance with accounting prin-
ciples generally accepted for Ontario school boards applied on a basis
consistent with that of the preceding year.
A. M. HARPER,
Municipal Auditor-4440.
Goderich, Ontario,
May 30, 1973:
BALANCE SHEET
as at December 31, 1972
ASSETS
Revenue Capital
Fund Fund
.i, Cash $ 104,391 $
Accounts Receivable
Municipalities 3,535
Government of Ontario 299,860 250,000
Other 66,463
Due from Capital funds 141,973
Other current assets 43,005
Total Current Assets 659,227 250,000
Fixed 'Assets ' 24,312,291
Deficit as at January 1, 1969 reduced by
Ontario Government Assistance
in respect thereof 91,020
Total Assets $750,247 $24,562,291
LIABILITIES
NOTES:
(1) Other revenue includes transfers from the capital fund, proceeds
from the sale of assets, insurance claims, earnings on temporary,
investments, reimbursements for services and other miscellaneous
items that are in the nature of recovery of expenditure.
(2) Local taxation includes the total of the 1972 requisition on muni-
cipalities, supplementary taxes, license fees, for trailers, taxes
' ,levied directly by school boards and any other amounts provided
by municipalities over and above the requisition.
REVENUE FUND
Statement of Revenue and Expenditure
For Elementary Purposes
For the year ended December 31, 1972
EXPENDITURE
Current Assets
Current Liabilities
Accounts payable '
Municipalities-over-requisitioa
Other
Due to revenue fund ......
$ 42,463 $
507,784
141,973
Total Current Liabilities 550,247 141,973
Unmatured debenture debt 7,710,317
Reserve for working funds 200,000
Investment in fixed assets 16,710,001
Total Liabilities... $ 750,247 $24,562,291
-Approved on behalf of the Boaid,
E. C. HILL, Chairman.
D. J. COCHRANE, Chief Executive Officer.
REVENUE FUND
Statement of Revenue and Expenditure
For Secondary Purposes
For the year ended December 31, 1972
EXPENDITURE
Business Administration
Computer Services
Instruction
Educational Services
Attendance, Health and Food Services
Plant Operation
Plaint Maintenance
Transportation
Tuition Fees
Capital Expenditures (Non-Allocable)
Other Operating Expenditure
Debt Charges on Capital Borrowing
Non-Operating Expenditure, excluding Transfers
to Reserves
Total Expenditure
RECOVERIES OF EXPENDITURE
Other School-Boards
Government of Ontario, Tuition Fees and. Mis-
cellaneous,
Government of Canada
Individuals
Other Revenue, excluding Transfers
from Reserves
Net ,Vxpenditure
Net Expenditure financed by:
Government of Ontario
General. Legislative Grants
Local Taxation:
1971 Over (Under) Requisition 37,981
Local Taxation raised in 1972 ,....,,,.• 1,511,312
Decrease (Increase) in Reserves .... (103,000)
Net Under (Over) Requisition required to be
applied to 1973 Taxation '''''' ..... ..... . ....
$ 87,771
1,448
3,665,432
78,592
3,522
418,194
49,096
508,801
18,323
103,247
33,272
616,168
20,880
$5,604,746
13,766
4,014
8,168
200
2,387 28,535
5,576,211
4,153,614
1,446,293 5,599,907
(23,696)
1
$ 82,658
1,364
4,004,322
68,488
8,513
492,207
18,354
401,590
276,200
11,273
38,829
379,975
32,806
$5,816,579
BusineSs Administration
Comptiter Services
Instruction
Educational Services
Attendance, Health and Food Services
Plant Operation
Plant Maintenance
Transportation
Tuition Fees
Capital Expenditures (Non-Allocable)
Other Operating Expenditure
Debt Charges on Capital Borrowing
Non-Operating Expenditure, excluding Transfers
to Reserves
Total Expenditure
RECOVERIES or EXPENDITURE
Other School Boards
GovernMent of Ontario, Tuition Fees
and Miscellaneous
GoVernitient of Canada.
Individuals ..........
Other Revenue, excluding. ......
from Reserves
Net Expenditure
Net ExpenditUre financed by!
GoVertirkient of Ontario,
General LegistiatiVe Grants
Local Taxation:
1971 Over (Under) Requisition ...„.„ 163,378
LoCal Taxation raised in 1972 1,254,828
DedreaSe (Increase) in Reserves „ (97,000)
Net Under (OVer) Requisition Required to be Applied to 1.8/3 TaXation
Statement of Source and Application
of Capital Funds
For the year ended December 31, 1972
SOURCE
$ 642,728
, 10,818
14,847
18,042
7,663 694,098 Total ............................. .... ........... .......
Unexpended Funds at Beginning of Year .
Long-Term Liabilities, at Par: -
Sold to ProVinde of Ontario Education Aid
Corporation
Capital Expenditures from the Revenue Fund
Federal. Sales Tax Refund ...„. ,„„„.......„..„.„..
250,000
250,000
• - 242,012
8,646
' 513,88i
$ 13,226
$5,122,4$1
Unexpended Funds at end of year
Total
APPLICATION
FiXed Assets and Work in Progress:
Btiildings r, $ 240,066
nitniture and Equipment 69,071
Other Panients on Projects:
Administrative Costs ... . ... .......
School .3ites-Adrninistrative Offices Site
Buses
6,059
88190
53
,
,411
' - 466,861
108,021
'$ '513,894
3,820;042
1,321,206 6,141,248
18,i6/
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