HomeMy WebLinkAboutThe Lucknow Sentinel, 1976-06-23, Page 16232)
)7 2,42. (
( 10,378)
( 204)
( 1,909) (
( 2,210) (
(3,087.) ('
• Analyied as follows;
General revenue
Special charges
t.Police Village
Region or county
School boards
• ( 2,659)• ( 17,788) •
$1
,163 72 50,,71
Region or county purposes
$169,
49327 4
8
80
School board purposes 71,189 72,721
Total expenditure $289,679
$296,072
Revenue
Taxation $ 47,300
175
100,531
8,323
$156,329
53,431
3,776
$ 48,265
207
87,589
9,411 .
$145,472
54,231
3,776
Payments in lieu of taxes
Ontario grants
Other
Region or county. purpose8
Taxation
Ontario grants
School board purposes
Taxation
Total revenue $284,930 $276,194
Accumulated net revenue (deficit) at
the end of the year • ( 2,659)
( 17;788)
$ 57,207 $ 58,007
71,394 72,715
$ 71,394 $ 72;715
1975
Nil
$ '59,535
10,300
$ 69,835
29,768
10,300
29,767
$ 69,835
Nil
$246,695
. •
• 1 2. 2,090 ,
9,943 1
2,659
2,427)
' 7,880)". •
205) 3.
2,090
Corisollidated ..Balance' Sheet
as at Deceinber 31, 1975
ASSETS
1974
Current Assets
Cash 4 $ • $ 6,963
Accounts receivable , 48,996 ' 22,165
Taxes receivable 30,254 28,277
$ 79,250 ' $ 57,405
Capital outlay to be recovered '
in, future years 26,4385 ,19,415
•
$ 06,135 $ 76,820
1975 •
$ 25,024
Accounts payable and accrued liabilities 42,764
LIABILITIES
Current liabilities
Temporary loans $ 22,969
.3;096
Notes to Financial Statements
ACCOUNTING POLICIES •
• (a) Balance Sheet
The Balance Sheet reflects the combined assets and liabilities
of the revenue fund and the capital fund. Certain assets and
liabilities are not' reflected as described hi (b)' and (e) of
this note.
(b) Fixed Assets
No value is attached to fixed assets for municipal reporting
purposes. Expenditures on fixed .assets are charged against
• current revenues unless the expenditures are financed out of
long term debt., Debt retirement costs are charged against
current revenues in the periods in which they are, paid.
(c) Inventories of Supplies • -
No inventories of supplies are included in 'other current.
assets. •
(d) Provincial Road Subsidy Revenue & Expenditure on Roads
Provincial subsidy programmes are on a "receipt and dis-
bursement" "basis which does not recognize accruals.' The
municipality has expended amounts for which the road sub-
sidy will not be eligible for claim until the succeeding year.
Such future subsidy, revenues have been accrued in ,the cur-
ren year.
(e) Charges for Net Long Terin Liabilities
Charges for net long term liabilities include principal and
interest. Interest charges are not accrued for the periods from
the dates of the latest interest payments to the end of the
fiscal year.
(f) Retroactive Adjustments to 1974 Financial Statement
Where is was necessary to present financial information for
1974, on a comparable basis 'to that of 1975, the information
has been restated to conform with the 1975. statement pre-
- sentation requirements. •
rAdit to • alai
0 •
• nag LArs."Pluve nu. WAIL, LUCKNOW, ONTARIO WEDNESDAY, JUNE 23, 1M
r Tartan Tea
Audi Hospital.
"'), Once again the Ripley VVonien's
Institute fulfilled their .motto "For
Home and Country".. The meal-
bers held livery successful "Tartan
Tea" with the proceeds going to
Kincardine and District General
- Hospital Alixiliary, to help pay, for
laboratory equipment..
Mrs'. Waiter LoCk convened •the
tea.: assisted by Mrs. Walter
"Culbert, • Mrs. Donald Blue and
Mrs, R,oss.Cumming, piesident of
, WI, There was a display of Bruce
County ,Tarian, in charge of Mrs.
Wm. Arnold, assisted by Mrs.
Donald Cameron, both of whom are
members of the Tartan Committee.
A raffle was held of a Bruce
County Tartan bracelet, which was
won by. Mrs. , Ethel Harten of
Kincardine. Mrs. Lewis Hiborne
made the draw. Mrs. James
Kirkpatrick was ,in charge, Mrs.
Joe Scott convened a sale of baked
goods, assisted by Mrs. Ewlyn
Pollock and Mrs, Lewis Hilbome.
Mri. Reg. Moore was in charge of
sale of crafts. Tea tables were
arranged with one member pouring
tea at each' table, Those pouring
were, Mrs. Donald Gillies, Mrs.
John Wylds, Mrs: George Cornish,
Miss Gertrude Kidney,' Mrs. Char-
les Liddle, Mrs. Frank Fair., Mrs. J.
A. MacDonald, Mrs. Neil MacLen-
nan, Mrs. Ross .Martyn and Mrs.
Earl Lohnes, Mrs. Donald Blue
was in charge of the tea tables' with
Mrs. Donnie MacDonald, Mrs.
John Gamble. 'Mrs., Bill Chappelle,
Mrs. Cecil Carnochan and Mrs.
Frank Scott serving.
Mrs.. Jack MacLean was kitchen
convener, assisted. by. MrS. Nick
Peet. Those receiving at the door
were Mrs. Ross, Cumming, Mrs.
Graham Cook and Mrs. 'Francis
Gemmell, Provincial Board Direct-
or of F.W.1.O. It was an afternoon
of friendship for the community,
greeting old friends and meeting
new people.
SOUTH KINLOSS
Mrs. Harry Lavis, Mrs.. Ira
Dickie, Marilynne. Maclntyre and
Bonnie Clark went on a bus trip on
Monday to T9ronto. They visited
Knox College, Ei-art College and
Presbyterian church, offices. They
enjoyed a delicious Chinese dinner
at a Chinese Presbyterian Church.
This trip was sponsored by
Maitland Presbyterial.
Visitors with Mr. and Mrs. Barry
Johnston and Lyndon on Sunday
were Mr. and Mrs. Victor Gawley.
Mr. and Mrs. Cliff Johnston.
Misses Ada, Lettie and Ethel
Gawlev. Mr. and Mrs. Don
Chadbourne and Tracy. Mr. and
Mrs. Cliff Chadbourne. and Mr.
and Mrs. Greg Welch.
Mrs. Eileen Sceli of London and
Mrs. Donna Holcombe and Tanya.
of St. Thomas visited during the
week with Mr.' and Mrs. James
Burt.
Congratulations to Mr. and Mrs.
George Carter after their recent
marriage. They • have returned
home from honeymooning at Niag-
ara Palls.
Mr: and' Mrs. Jim MacKenzie pf
Guelph visited on the weekend with
their parents Mr. and Mrs. Fraser
MacKinnon and with Mr. and Mrs.
David MacKinnon and Jennifer.
Walter Dickie and his friend
John Wilson of Toronto visited with
Mr. and Mrs. Ira Dickie on the
weekend.
Advertising
helps you cogipare.
CANADIAN ADVERTISING ADVISORY HOARD
Township of West WowanOsh
FOR THE YEAR 'ENDED
Auditor's Report and Financial Statements
DECEMBER 31, 1975
Expenditure
General municipal purposes
General government • 20,050
Protection to persons and property 11,500
Transportation services 125,000
5,000 Environmental services
Health services
Recreation and cultural services 4,000
Planning and development 3,613
Other
1975 1975
Budget' Actual
Accumulated net revenue (deficit) at
the beginning of the year $ 2,090 $ 2,090
Auditor's Report
April 8th, 1976
To: The Members of Council, Inhabitants and. Ratepayers:
.
We have examined the 1975 financial statements of the Corpor-
ation of the Township of West Wawanosh
Our examination included a general review of the accounting pro-
cedures and such test 'of accounting records and other supporting evid-
-ence as we considered necessary in the circumstances.
• In our opinion these ,financial statements present fairly the fin-
ancial position of the Corporation of the. Township of West Wawanosh
as at December 31st, 1975, and the • results of its operations for the
year then ended, in accordance with generally accepted accounting
principles for. Ontario municipalities applied, after giving retroactive
effect to the changes referred to in Notes 1 (a) and (f) and Note 5 to
the financial statements, on a basis consistent with that of the pre-
ceding year.
Respectfully submitted
Monteith, Monteith and Co.
Chartered Accountants
Licence No. 284
Stratford, Ontario
Date of Filing April 15th, 1976
Statement of Capital Fund Operations'
for the year ended December 3L 1975 •
/
Unfinanced capital outlay (Unexpected capital
financing) at the beginning of. the year
Capital expenditure
Transportation sere-ices
Planning and development
Total expenditure
Capital.financing
Contributions from the revenue fund
Long term liabilities incurred
Ontario grants
Statement of' Revenue and Expenditure
'for the year' ended •beeember 31, 1975
Total capital financing
Unfinanced capital outlay (Unexpended capital
financng) at the end of the year
• 15,518
6,505
123,091
3,956
40
6,233
3,937
13,591
$ 55,040
156'
89,249
11,466
,$155,911
12,392
'13,140
$ 25,532
59,252
$ 59,252
2,103
3,293
$145,995
38,996
59,431
$244,422
Opening Balance January 1st, 1975
0
4,
1974
Nil
$ 77,200 5.
2,600
$ 79,800
$ 38,000
2,600
38,600
$ 79,800 •
1974
ACtual
$ 5,817
17,160
3,703
116,170
3,566
1.
$ 67,788 $ 26,065
. Net long term liabilities 26,885 19,415
Reserves and reserve funds 29,250 29,250
Accumulated net revenue (deficit) and
unapplied capital receipts (17,788) 2,090
CHARGES FOR NET LONG TERM LIABILITIES
Total charges for, the year for net long 'term liabilities were
as follows (as shown 'on Schedule 1 - 8)
NET LONG TERM LIABILITIES
-s--.3,616
S 2,788279 Principal Payments
Interest
, Total long term liabilities incurred by the municipality and
outStanding at the end of the' year amount to'
. . 226 .6.888855
(as shOWn on Schedule, 3 - 9)
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 Nil
Net long term liabilities at the end of the year
CAPITAL OUTLAY TO BE RECOVERED IN FUTVRE YEARS
Some capital. outlay does not represent a burden, on general
municipal revenue's, as it is to be recovered in' (mire years
from other sources (as shown on Schedule 3 - 1
. ' 'Special charges on benefitting landowners.
The accumulated net revenue at the beginning of the year on the
Statinent of Revenue and 'Expenditure (Statement' n has
been restated to give effect to the inclusion of the under=
levies for county and school board purposes. The effect on
the
the m acc4umFiunlaant:dianlnet
Report
at the beginning of the year has
been an aggregate decrease of $8,085 under that reported i! '
Analyzed as follows
0)
School Boards
•
$•(( 7.8822')
$ 10,175 . Closing Balance, December'31st, 1974
Adjustments for '
County
$106;135
( LOW
$ 2,090
$ 26.885
$ 76,820