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Home My WebLink AboutTimes-Advocate, 1987-04-29, Page 10• Pftt)f. l() •i Imes-Advocute, April 29, 1987 Large (crowd of seniors meet • Thursday's lovely weather brought a large crowd of seniors out to the sleeting. !'resident Hamilton Hodgins -welcomed everyone, also visitors Ver- na Uowdall and Marjorie Isaac from London Eva MclkInd and Ethel Langford \ere \vett•omed back from the sunny south. Birthday wishes went to Voyle Jordan. Jessie Lewis reported that she contacted Parkhill and Ailsa Craig seniors on the invitation to the dessert euchre and reported that they were to bring it up for questions at the next meeting. Hazel Cunningham gave the La utonend district news treasurer's report. The president announced that Thursday night would be the last euchre at SI. Patrick's Mini Hall. Marjorie Steeper gave a reading The Old Country Store. Mary Miekle played several toe tapping tunes on the piano. The meeting adjourned for cards and crafts. Winners were high score - Mary Scott and Harry Noels, lone hands - Jessie Lewis and Murray Carter, low score - MarjOrle ISMIC and Chris }lessens, craft winners - Ethel Langford. The next meeting will be all games week. We hope a big crowd will come out again. RENIE LONG Delaware lady seeking Conservative nomination Renie Long, a full partner with her husband in Wood Lynn Farms Limited, will be seeking the nomina- tion when Progressive Conservatives in the riding of Middlesex stage their nomination at Medway High School in Arva. The meeting is set for Thursday, April 30 at 8:00 p.m. The Delaware business, of which she is secretary -treasurer, produces eggs, pork, hog breeding stock, stan- dardbred horses, apples and grain. She is a past president of the On- tario Fruit and Vegetable Growers Association which represents over 10,000 farm families and has presented briefs on many issues to various government ministries. Mrs. Long is also vice-president of the Ontario Farm Safety Association, a director for the Ontario Centre for Farm Machinery and Food Process- ing Technology and a member of the Farm Products Appeal Tribunal which hears appeals of producers, consumers and processors from deci- sions made under the Farm Products Marketing Act and the Milk Marketing Act. In addition, she has been a three- year member of the Middlesex Women for the Support of Agriculture, the Middlesex Farm and Home Safety Association, Canadian Agri -Marketing Association and the Canadian Horticultural Council. Ae icon goa4cal o� 1987 AUDITOR'S REPORT AND FINANCIAL STATEMENT as at December 31, 1986 • Eov AUDITOR'S REPORT To the Supporters of the Huron County Board of Education: We have examined the balance sheet of The Huron County Board of Education as at December 31, 1986 and the revenue fund statement of revenue and expenditures, the capital fund statement of operations, the continuity of reserve funds and the continuity of trust funds for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests and other procedures as we considered necessary in the circumstances. In our opinion, these financial statements present fairly the financial position of the Board and the trust funds of the Board as at December 31, 1986 and the results of its operations and the continuity of trust funds for the year then ended in accordance with the accounting principles described in note 1 to the financial statements applied on a basis consistent with that of the preceding year. London, Canada March 9, 1987 CHARTERED ACCOUNTANTS License No. 1217 THE HURON COUNTY BOARD OF EDUCATION BALANCE SHEET December 31, 1986 (with comparative amounts at December 31, 1985) ASSETS Revenue Fund 1986 Cash and term deposits S 1.705.130 Accounts receivable Government of Ontario Local laxation - Supplementary taxes Other school boards Sundry Prepaid expenses Capital Fund Accounts receivable Due from revenue fund Capital outlay to be recovered in future years (statement 3) Reserve Fund Due from revenue fund Trust Funds Cash Investments • al cost which approximates market value On behalf o1 the Board Director Director 1985 S 806.312 1.777.756 1.662.337 24.622 103.733 60.264 33.255 473,786 53.581 3,671.505 3.029.271 STATEMENT 1 LIABILITIES AND EQUITIES Revenue Fund 1986 1985 Accounts payable. Local taxation • over requisition (statement 2) 5 485.645 Trade accounts payable and accrued charges (note 8) 1.903.830 Other school boards 184,049 2.573.524 122.711 114.777 Due to capital fund Due to reserve fund Reserve for working funds (note 3) Capital Fund S 225 Holdbacks payable 7.275 7.275 Unmatured debenture debt (note 4) S 3.794.216 S 3,144,048 5 225 287.601 5 295.101 S 188.417 S S 20.038 S 495.826 S 503.326 159.022 Reserve Fund Equity in reserve fund (statement 4) Trust Funds 17.902 Awards payable Equity in trust funds (statement 5) 190,307 183.907 (note 6) $ 210.345 S 201.809 7.275 188,417 195.692 1,025,000 S 3.794.216 S S 7.500 S 287.601 S 295.101 5 S 188.417 5 5 8.310 5 202.035 S 210.345 5 400.348 1.537.589 114.814 2.052.751 7.275 159,022 166,297 925.000 3.144.048 7.500 495.826 503,326 159.022 5,540 196,269 201.809 THE HURON COUNTY BOARD OF EDUCATION REVENUE FUND STATEMENT OF REVENUE AND EXPENDITURES YEAR ENDED DECEMBER 31, 1986 (with comparative amounts for 1985) 1986 f rpend,lures Business administration General administration Computer services Instruction Plant operation and maintenance Transportation Tuition fees Capital expenditure (not) allocable) Other operating expenditure Debt charges and capital loan interest (note 5) t4on•operating expenditures. excluding transfers 10 reserves Total expenditure Recovery of expenditures Other school boards Government of Canada Individuals Other revenue. excluding transfers from reserve' ��- +—Tent -recovery of expenditures Elementary Secondary Schools Schools Total 5 203.710 234.661 20.201 17 156.471 1.834.773 2.069.832 25,505 494.058 31.841 88.251 43.228 22,002,531 115.770 1.585 36,149 153,504 Net erpenddure 2t,849,027 Financed by Transfer from Ito) reserve funds (statement 4) Transfer to revenue fund reserve for working funds Government of Ontario - general legislative grant focal taxation • raised in current year Previous year's over (under) requisition Under lover) requisition of taxes for year (note 7) (50.000) 14.342.721 7.497.134 172,823 21,982:78 5 207.825 239.401 20.610 13.519.323 1.895.163 1;630,645 942.535 25.250 32,484 148,716 S 411.535 474,062 40.811 30.675.794 3.329.936 3,700.477 968,040 519,308 64.325 - 238.967 35.038 78,266 18,496,990 40,499,521 1 .017.005 18.311 68,679 56.816 1.160.752 STATEMENT 2 1985 Elementary Secondary Schools Schools Total S 214,867 S 214,868 S 429.735 225,616 225.615 451,231 7,959 7,959 15,918 15.976.184 12.465.478 28.441.682 1.555.482 1,636.226 3.191.708 1.963.860 1.604,190 3,588.050 17.741 909.014 926.755 61,371 69.477 130.848 21.625 21.625 43.250 375.897 221.537 597.434 44,788 66.291 111.079 20.465,390 17,442.280 37 907 670 1.132.775 126.286 1.05 7.237 1.183.523 18.311 - 26.411 28,411 70.205 1.445 53.810 55.255 92.965 22.833 12.751 35,584 1,314,256 17.336.238 39,185.285 (29.395) '(29,395) (50.000) (100.000) 11,190.670 25,533,391 6.369.432 13.866.566 227,525 400,348 17.708,232 39,670,910 150.564 1,150.209 1.300,773 (113,651) S - 071.994) s (485.645) s 20,314,826- 16,292.071 38,606.897 • (48,754) (61.063) (109.817) (50.000) (50.000) (100.000) 13,454.728 ' 10.387.399 23.822.127 6,845.496 8.239.742 13.085.238 288,179 28.518 309,697 20,487,649 16,519 598 37,007,245 (172.823) S _(227,525J• S (400,348) A.W. Clark Chairman of the Board • STATEMENT 3 THE HURON COUNTY BOARD OF EDUCATION CAPITAL FUND STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31,1986 (with comparative amounts for 1985) Sources of recovery of capital expenditures: Capital expenditures out of revenue fund Debenture principal payments included in revenue fund expenditures Ontario Education Capital Aid Corporation debenture writedown Capital expenditures: Land and buildings Furniture and equipment 1986 1985 $ 1,025,061 S 485.420 208,225 513.120 473.348 1,233,286 1,471,888 484,775 540.286 1.025,061 80.641 404.779 485,420 Net recovery of prior years' capital expenditures 208.225 986.468 Unrecovered capital expenditures, beginning of year Unrecovered capital expenditures, end of year 495,626 1.482.294 287,601 S 495,826 STATEMENT 4 THE HURON COUNTY BOARD OF EDUCATION CONTINUITY OF RESERVE FUNDS YEAR ENDED DECEMBER 31, 1986 (with comparative amounts for 1985) Elementary reserves: Future capital expenditures - Ministry equity Future capital expenditures - Board equity Retirement gratuities Secondary reserves: Capital improvements Retirement gratuities Total Balance beginning of year $ 6,022 6,293 48,754 61,069 " Transfers from (to) revenue fund Balance end of year S 6,022 6,293 48,754 61,069 36,890 .36,890 61,063 S 29,395 90,458 97,953 29,395 127.348 S 159,022 $ 29,395 S 188,417 STATEMENT 5 THE HURON COUNTY BOARD OF EDUCATION CONTINUITY OF TRUST FUNDS YEAR ENDED DECEMBER 31, 1986 (with comparative amounts for 1985) Balance, beginning of year Add: Trust funds received in year Investment income Deduct Awards Balance, end of year 1986 S 196,269 16,702 25,439 238,410 36,375 S 202,035 1905 S 187,916 16,554 23,907 228,377 32,108 S 196,269 "Copies of the audited financial reports from which these. statements have been extracted may be examined at the office of the Secretary -Treasurer, Huron County Board of Education, 103 Albert Street, Clinton, Ontario" R.B. Allan Director of Education •