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HomeMy WebLinkAboutThe Lucknow Sentinel, 1980-10-08, Page 17111010;10fillailcialStotensentS ACCOUNTING POLICIES a). Statement of Reyenue and Expenditure Thisstatement reflects the revenues and expenditures of the revenue fund. Statemen.(Of GaPital Operations This statement, reflects the capital expendithre of the municipality to be 'recovered from the general Municipal.reveaue of the . municipality. c)'. Balance Sheet . . Ihis'Atatement reflects'the assets and liabilities of the revenue -,fund.and_theeapital_fend., Fixed AsSets . • The historical cost and accumulated depleciation of PiXed assets is not reported for municipal ptirposes Instead:, '''Capital outlay to be `recovered in futureyeais" which is the aggregate of the- . principal protion of unmatured loni.term'liabilities, capital fOnds •transferred ta ether erganix.atiens, ,And:the cost of Capital pro'," clefts:net yet permanently iinfneed is reported on the Balance Sheet.. e) Municipal Entetprise0 . - , There' are no municipal enterprise activlOps car.ried on by the. f) Charges for Net,tong Term Liabilities Debt retirement Costs including principal and interest are charged against current revendes in the periods,in which they are paid. --,,--IntereA-eharges Ate-net-acfrued-rfor-the-periodsfrOm -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 hoes-not represent a burden on general municipal revenues, as it is to be - recovered in futdre years fromother sources: 1979 1978 Special charges on benefitting landowners $145,718 $218,221 b) Capital outlays, including fixed assets and the transfers of capital funds in the amount of $20,170, which have been financed from general municipal revenues of the current year; pre reported • on the Statement of Revenue and Enpenditure,' • NET LONG TERM LIABILITIES The balance for net long 'term lipbilities 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 out- standing at the end of the year amount to Of the long term liabilities shown above,the respon- sibility for payment• of principal and inerest,eharges has been assumed by other:: for a prinCipal amodnt. of Net Long Term Liabilities. At The End Of The Year 4. ACCUMULATED NET REVENUE AT THE END OF THR YEAR The balance in the revenue fund. at Tile year end is available the levies, of the followingelaWses of ratepayers. to reduce 1978 1979 .Special area ratepayers $ 2,819 $ 1, 529 General ratepayers 4,798 1.68 SchOol board ratepayers 77 313 County ratepayers 195 126 $ 7,889'1 1.-="• $ 2,136 5. CHARGES FOR NET LONG TERM LIABILITIES Total charges for the year ter long term liabilitieS were as follows: 1979 1978 Principal payments $20,164 $12,257 Interest 6.962 ,5,464 .$27,126 .$17,721 Of the total charges shown above, $27,126 were paid from genetal municipal revenues of the municipality and are included in expenditure on the ,Statement of Revenue and ExpenditUre classified under the appropriate functional headings. 6. RESTATEMENT OF 1978 picuRgs Tile drain loan prelevies have been reallocated to surplus from other liabilities, resulting in an a justment of $1,529 to accumulated net revenue at December 31, 1978. • 1-7 $127,012 14,000 $113,-012 14 ANNOUNCING THE RELOCATION OF THE PFRIMMER CLINIC N0.5 FROM RIPLEY TO 58 ELGIN AVE:, GODERICH DEEP MUSCLE THERAPY COULD HELP CORRECT SUCH CONDITIONS AS:, BURSITIS, SCIATICA, WHIPLASH, ARTHRITIS, HEADACHES, BACK PAIN, TENSION, SLEEPLESSNESS, POOR CIRCULATION, AND MUCH MORE. FOR APPOINTMENT CALL: MARIANNE LAWRENCE, RNA, DART 5Z4-4644 .Luclmow Sentinel, Wednesday, October 8, 1980---Page 17 Lucknow Legion installed ber's Remembrance Day Ser- ported that new Dart Boards several new members at vice is set forlsloveMber 11 in, have been installed in the their regular meeting last the. Anglican Church, The Legion and also the Zone Pee Tuesday evening. - President, Eldon Mann, Membership chairman Har- old Ritchie, and Sgt.. At Arms Sam Matthews, were the -- .New Ordinary members installed' were Stanley Brown, Alfred Herbert, Rick Matthews and ,Kathy Van Dyck; associate- members, James Montgomery, Ian Montgomery, Ivfargaret Jeffrey Taylor, Peter. Gerster and .George. Ander- ,YOU F101) AiirrAMES tHIS PUOLI4 "To t4 PL ASE, tphisirork 114-AT ..Ti4rY Aa € ritERt -Fog. 011 . .. p Fo5tE E son, and one, new member in, pvvu $)4 5.0ME THEN. G en sz eve ft yOAIE AND the Ladies' Auxiliary, Bertha L.04 p LO L. Ize Whitcroft. r W ' A LA 5 LO OICt /41 Scheduling for Noveni- Y ceft "MI annual Remembrance Ran, Wee hockey tournament will quet is to be held on Nov- be held in Liicknow in the ember 8th. month of 'January; 'The Sports' Cominittee embers .4 • ,g14 Afron.a0.41 b. MAI ik B0 ElMaa, ent N3B 2C7 . „ . . ones It would be incorrect to sUggest- -that7-fariting7is---Canacla's----most important industry, . Lumbering and Mining and 'the steel industry would have rank up near the top. It would be correct, though, to suggeSt that agricultur is among the top; five or siX as far as the, grosi national product is con- cerned and . as far as exports are concerned. Therefore, it seems a sharneto me that one. of Canida?s most important industries must, accept thefact that More.. than 50 per cent of those engaged• in farthing must rely 'on outside sources of income to survive. More than half of Canada's far- mers have .becorne part7timers in recent' years if we can believe Murray Hawkins, a •professor of rural economics at the University of._ Alberta. This part-time income includes money, earned by farmers' wives. Personally,--I know of dolens of farmers in my • area "of Canada whose. wives have been forced to return to the work force just to preserve a' way of life. In addition,, Prof. Hawkins intimate's that' farm employment in Cana,da for people outside the farm family has declined. Agriculture is ,no longer hiring a lot of people. . Many in this country whose hair is no longer black or blond can 'remember those great excursions' when easteners went west on harvest trains, a debt to western Canada that seems to have been forgotten in recent years now that the west, has become.affluent. That help is no longer necessary, apparently, because huge machines have taken over the work. Sixty-five per cent' of total farm employment in Canada comes from farm owners and, their families. One of the reasons , that agriculture no longer -needs-.outside-belp-is-be cause young people, to a great extent, are staying On the farms of this nation. _ _Hawkins_ als_o contends_that more and more women 'are getting into agriculture. In the U.S. for example, 50 per cent of enrolments in schools of agriculture are women. One cannot help but question some of these figures. Farmers are not attracting outside help into agriculture because nobody in his right mind will go to work for a farmer. They simply won't accept the long hours, the back7breaking toil, the tiring physical work that has -to-be-done-onthelartnrin-spite-of-the great strides in mechanization in the past 40 years. ' ,Also, more young people are going into farming because the life at tracts them, . They: have been broughtup on the farm' and are well aware Of the toil and frustration that it brings, 'But they are willing to put up‘with it topreserve a way of life. • The reason more women appear to* be going into,agricUlture is simple because mor 'wives and daughters are Willing to- work on the farm to help the old man remain in a way of life that is fast becUming unique. - I know dozens of dairy farmers who have, for years, worked all day, every day 365 days 'of the year. Or4y recently have they been able to leave the farm for a holiday and only then because sons and daughters and daughters-in-law and sons-in- law have been trained sufficiently to take over long enough to allow the • original farmer to' take a week or two Or three or four fora holiday. A few other statements by Hawkins deserVe attention. If Canada is to remain successful on the world agricultural scene, a'great deal more governmentand industry money will have to 'be spent on agricultural research and development. Canada is spending two per cent of annual government expenditures on agricultural research and development. This 'compares' un- favorably with six per cent in Germany and 'more than four per cent in the United Kingdom. Governments; in other words, have been riding through the recent developments in agriculture on the backs of the farmers. And . so have the industrial giants who depend on agriculture in this.. . Country_They simply have not been paying their way in Canada, a statement that is true • about dozens 'of industries in - this country. Tri- fact, many of them; such as the journalism profession, have been quite content to let governments and educational institutions financed by governments -- train the people for them with a minimum amount of money invested. It's time some help came from the people who benefit from the training given by others.