HomeMy WebLinkAboutThe Lucknow Sentinel, 1976-07-14, Page 13(d) Charges for net long term liabilities
Charges for net long term liabilities include principal and in-
terest. Interest charges are not accrued for the period from the
date of the latest interest payment to the end of the fiscal year.
2. COMPARATIVE FIGURES '
The 1974 comparative figures have been restated to reflect the
following:
(a) consolidation of local boards, other than joint boards and
municipal enterprises.
(b) over levies, previously disclosed as' current liabilities are
now included with accumulated net revenue.
(c) reclassifications of expenditures as required, be changes in
disclosure requirements.
3. CHARGES FOR NET LONG TERM LIABILITIES
Total charges for the year for net long term liabilities were as
follows: •
Principal payments including contributions to sinking funds and
to the Ontario Water Resources Debt
Retireznent Fund $,14,800
Interest -4;983
$19,783
Of the total charges shown above, $14,183 was paid from the
revenue of the municipality and,is included 'in expenditure, class-
ified under the appropriate functional headings, and .$5,600 was
recovered from the' municipal •enterprises for which the related
net long term liabilities were incurred.
4. PROVISION FOR. RESERVES AND ALLOWANCES
Provisions for reserves and 'allowanceso amounting to $5,000 are
included in the "Statement of Revenue and Expenditure."
5. NET' LONG TERM LIABILITIES
Total long term liabilities incurred by the municipality •
and outstanding at the end of the year amount to $89,300
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
Net long term liabilities , at the end of the year $47,300
7. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS
Some capital outlay does not represent a burden on general
municipal revenues as it is to be, 'recovered in future year from
other sources:
Municipal enterprises $19,800
8. LIABILITY FOR VESTED SICK LEAVE BENEFITS
Under the sick leave benefit plan, unused sick leave can accumu-
late and employees may become entitled to a cash payment when
they leave the municipality's employment.
The liability for these accumulated days, to the extent that they
have vested and could. be taken in cash by an employee on ter-
minating, amounted to $942 at the , end of the year. No• provision
has been 'made for this liability.
for the year ended December 31, 1975
1, ACCOUNTING POLICIES
(a) Balance Sheet •
The Balance Sheet reflects tle combined assets and liabilities of
the revenue fund, capital fund, reserve funds and the following
local board:
Lucknow Public Library
(b) Fixed Assets
No 'value is attached to fixed assets for Municipal reporting put-
poses. 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. •
tc) Provincial road subsidy revenue and expenditure on roads
Provincial subsidy programmes are on a. "receipt and disburse-
ment" basis which does not-recognize accruals. The municipality
has expended amounts for which the road subsidy will not be
eligible for claim until the succeeding year. Such future subsidy
revenues have been accrued in the current year. ,
42;000
Would You Believe
by RIN A
AN EXPLOSION SO LOUD
IT WAS 'HEARD OVER
3,000 MILES AWAY.
421
,-49\`
cis>
or
Yes; in 1883 the island of
Krakatoa in the Pacific
blew' up with tremendous
force.
WOULD YOU
ALSO BELIEVE
. . . that we're bursting
with pride . . talk of the
tremendous values we're
able to offer is being heard
all over town! See us
soon.
HANDICRAFT AND
FLO WER .tillOPPE
' 306
Josephine
Street
Winghttnt
DIFFERENT STORY.
It's true — we all criticize
many of our friends we would
not allow others to criticize.
.ve .7w4. , • .• •
ViEDNESDAY, JULY 14f 1976 THE LUCKNOW SENTINEL, LUCKNOW, ONTARIO PAGE THIRTEEN
VILLAGE OF LUCKNOW . AUDITOR'S. REPORT
CONTINUED FROM PAGE 12
Notes to Financiai Statements
Howard Blake Couple Married At P.410, Ri4er Church
'Named President
News and Views.
From: Hurony!ew
The, variety program for Family
Night was provided by members of
the staff and was rated by the
residents, as one of the' best. This
was the first all staff program and
as it was such a tremendous
success,• we hope to' have a repeat
performance in the near future.
Mrs. Jane Ladd arranged and
introduced The program which
included the following numbers:
monologues by Dorothy MeGregor
and Dorothy Valkenburg; piano
solo by Donna, Joyce and Brenda
INGLIS FARM
_ DRAINAGE
QUALITY' INSTALLATIONS
CLAY OR PLASTIC
'Ftee Estimates
PHONE 3924700
R.R. 3 ALKERTON
Broadfoot; instrumentals Adam
Wilson, Karen McGregor and Jo
Ann Verhoef; readings Dorothy
Scott and Homer Andrews; a vocal
trio "The Bluebells", ' • Elizabeth
"Gibson, Barbara and Judy Carter.
Mrs. Bessie Elliott expressed the
appreciation of the residents for the
hour of fine entertainment.
Twenty members of the "Over'
90 Club" enjoyed a picnic at_
Pinelake Camp on, Wednesday
afternoon. Miss Mary Turner, who
will be celebrating her 100th •
birthday in December, had the
honour of being the eldest member
present. The kitchen staff had
prepared box lunches and the
Walkerburn volunteers, Rita Yeo
and Willa Taylor, helped with the
activities, Many thanks to Bob and
Shirley Elliott for tyte use of the
facilities.
Another first took place at the
Home on 'Thursday evening when
the residents. of Normal Care were
entertained to a barbeque on the
East lawn. Scotty Easton moved a
vote of thanks to Mr. Archibald and
his staff on behalf of the residents.
The weather was perfect for the
event and it is hoped to have one
for each of the areas during the
month of July.
, The ,1976. Blake Reunion was
'held on ..Sunday,.July '11 in
Stratford Park" with 45 in attend-
ance.
After an enjoyable lunch 'at ,1
p.m, a ball game was scheduled
but on account of the ball diamond
being occupied, and threatening
skies, people visited.
Around , three o'clock the Blake
Alton family conducted the gimes:
candy ,guess, 1st Cecil Johnston!
2nd *Harold Webster; races, pre-
school, Kevin Webster; 8 - 10, 1st
Deidra and Darilyn Angle tied, 2nd
Steven Alton; 11 - 14, 1st Karl
Morrison, 2nd Kay Morrison;
young men, 1st Doug Aitchison,
2nd Lloyd Morrison; 23 :and up,
men fast walk, 1st Doug Angle, 2nd
Murray Morrison, 3rd Glen Web-
ster; yOung 'women, 1st Carolyn
Henderson, 2nd Marianne Jack,
3rd Janet Neufeld; ladies fast walk,
1st Marie' Webster, 2nd Karen
Webster, 3rd Diane Williams;
balloon throw, 1st Ralph and Roger
Morrison, 2nd Elizabeth and Nancy
Ritchie, 3rd Steven Alton and Karl
MOrrison; tug of war was won by
Blake Alton's team, and Doug .
Angle's because' the rope let go.
A lively game of baseball was
enjoyed before supper at 6 p.m.
After 'supper the young children
had a candy scramble while a
business meeting was conducted
-by—the- president-, 2 Gordon—John.;
stone.
The minutes and expense ac-
count was read by the acting
secretary ;Nancy • Ritchie while
Helen Blake was unable to attend.
A minute of silence was observed
in tmemory of departed members,,
Elmer Johnston and Art Farnell.
The following slate of officers
was elected: president, Howard
Blake; vice president, Glen Webst-
er; secretary-treasurer, Nancy Rit-
chie; sports, johnstone boys.
It was decided the second
Sunday in July would be' the date
for' the 1977 Blake Reunion.
HUNTER
Pine River United Church, Pine
_"River, was The setting on SaturdaY,
May 15th at 3.30 p.m. fore the
marriage of Brenda Lee Rotteau,
daughter of •Mr. and Mrs. Pete
Rotteau, R. R. 1 Kincardine and.
Dale Gordon Hunter, 'son of. Mr.'
and Mrs.. Bill Hunter, Lucknow.
Rev. Rob Putman officiated at the
double ring ceremony.
The altar was decorated • with
bouquets of yellow and white
daisies., Organist was Jim Hender-
son of Lucknow who played "Song
of Joy", "Colour My World" and
"Time For Us".
Given in marriage by her father,
the bride chose a floor length gown
Of chiffon over satin with' bell
sleeves and key hole neckline. A
floor length veil fell from the
princess headpiece. She carried
yellow roses and baby's breath and
ivy. Her' maid of honour was Miss
Sheila Aitken of. Toronto, friend of
the bride, who wore a floor length
halter gown of mint green polyester
crepe with flowered chiffon jacket
and carried' a 'basket of yellow and .
white daisies. Miss Judi -Buchanan
of London, Miss. Betty Ann Hunter
of Lucknow, sister of the groom and
Miss Janet Rotteau, sister of the
bride, were bridesmaids. Their
gowns and flowers were, the same
as the maid of honour. '•
Groomsman was Andy Anderson
of Stratford. Ushers were Bill
Dungannon W.I.
The annual picnic of Dungannon
Women's Institute was held Wed-
nesday, July 7 at 2 p.m. on the
patio at the home of Mrs, Gordon
Finnigan in Goderich. The Branch
Directors, . Mrs. Alvin Kerr, Mrs.
Hugh McWhinney and Mrs. Fred
Young had an interesting afternoon
of contests and readings planned
for the group of 12 members and
two visitors in attendance.
The president, Mrs. Elmer
Black, extended a welcome and
used the Opening Ode and Mary
Stewart • Collect to begin the
meeting. The financial statement •
was read, and correspondence
noted. Anyone wishing to attend
next Huronview Auxiliary, July 19,
shotild contact Mrs. Graham Mc-
Nee..
The first contest was "Drawing"
which proved hilarious and was
*on by Mrs: Russet Alton. Next
was an Alphabetical Agricultural
by the Moran Bros.
For a, wedding, trip to Niagara.
Falls,,'Upper Canada Village arid
Ottawa the bride chose a green and
white polyester dress with a
'corsage of yellow sweetheartroses.
The couple are residing in Sarnia
where the groom is employed at
DoW Chemical Co. Ltd., after
graduating from Lambton College
earlier this year. The bride is a
graduate of Fanshawe College
School of Nursing, Victoria Camp-
us, London. °
Prior to her marriage, the bride
was , honoured at showers given by
her aunt, Mrs. Robt. McKague, R.
R. 2 Wingham; Mrs. W. Arnold, R..-
R. 2 Lucknow and a neighbourhood
shower at the home of Mrs. Lloyd
Campbell, R. R. 1 Kincardine.
Quiz won. by Mrs. Cecil Blake.
Miss Beth McConnell gave a
splendid reading, "St. Peter at the
Gates' Kitchen' Bingo,•Conducted
by Mrs. Alvin Kerr, was won by
Mrs. Clifford Purdon. Mrs. Harry
Girvin guessed the pennies in a jar
at 200 (201 in, jar). This was
folloWed by a 'humorous, reading,
"When Father Laid 'the Carpet on
the Stairs", by Mrs. R. Alton. The
most interesting "Thread" story
was given by Mrs. Howard
*Johnston. The last,contest was the
"7" problem and was won' by Mrs.
-A. Kerr.
Home and Country magazines
were distributed and the president
gave the courtesy remarks. Prizes
were donated by Mrs. H. McWhin-
ney and Mrs. E. Black. k bountiful
picnic lunch was served at tables on
the lawn amid beantiful surround-
ings following singing of W.I.
grace. Weather conditions were
favourable for haying and several
members were linable to be
present and were missed.
ROTTEAU .
Sisler of Sarnia, Greg 'Hunter of
Toronto " and Brad Rotteau Of
Ashfield. The greom and his
attendants wore brown tuxedos
with satin lapels with, tinted yellow
carnations;
The bride's mother wore a long
gown of blue printed polyester with
matching jacket and a corsage of
pink roses. The • groom's mother
wore a flowered gown of nylon
organza with a corsage of orange
mums.
Streamers' and bouquets of
yellow and white daisies decorated
the, Kincardine Legion Hall where a
dinner and reception were held
following the ceremony, with music