HomeMy WebLinkAboutClinton News-Record, 1977-06-09, Page 214
4
PQ
Clinton Spring Fair results
Fred Chapple, RR 4, Seaforth.
Potted geranium: Nellie
Baker, Clinton; Mrs. Wilfrid
Colclough, Clinton.
Dining room arrangement
using flowers and candles - K. C.
Cooke Special: Ann Lobb,
Clinton; Blossom Garrow,
Clinton; Mrs. Wm. Dolmage,
Londesboro.
McConnell Nursery Co. Ltd.
most points in flower section:
Nellie Baker, Clinton.
Simpsons Sears Ltd. Special
to exhibitor with most points in
Homemaking Section: Mrs. Wm.
Dolmage, Londesboro.
Huron County Cream
Producers donated two prizes of
four pound's of butter each to the
second and third total point
winners in domestic science
section: Mrs. Wm. Dolmage,
Londesboro; Mrs. Tom O'Con-
nell, Clinton.
ELEMENTARY SECTION
Kindergarten - "Painting of
Me": Ben Carter, Clinton P.S.;
Ruth Ann White, C.P.S.; Jason
MacLean, C.P.S.
Grade One - printing: Rosita
Brand, St. Joseph's; Michelle
Govier, Clinton; Lynn Bezaire,
St. Joseph's.
Art - Recess Fun at School:
Glenn Bowker,- Clinton Public
School; Lori Faber, Huron
Centennial; Michelle Govier,
Clinton P.S.
Craft - paper bag puppet:
Sylvia Crich, C.P.S.; John
(continued from page 2)
Haskett, C.P.S.; Mark Tideswell,
C.P.S.
Grade Two - Printing: Leona
Wyman, Christian School;
Sharon Boersma, Christian
School; Jeff Brown, Clinton
School.
Art - "When I Am Big": Leona
Wyman, Christian School; Lori
Colquhoun, Clinton P.S.; Ronnie
Greidanus, Christian.
Poster water safety: Tracy
MacDonald, Clinton; Steven
Lippincott, Clinton; Jeff
MacLean, Clinton.
Grade Three - Writing: JoAnn
Bernard, C.P.S. Kim Bolger,
C.P.S.; Stacey Charter, C.O.S.
Art - "What I'd Like to be when
I'm Big": Keith Hurman, C.P.S.;
Guy Devine, C.P.S.; Tim Craig,
C.P.S.
Poster - play safely: Gwen
Holland, C.P.S.; Shelley
Crawford, Holmesville; Shawn
Lester, C.P.S.
Grade Four- Writing: Angeline
Kassies, Christian School;
CLINTON NEWS -RECORD, THURSDAY, JUNE 9, 1977 -PAGE 3A .
Jeanette Raidt, Christian School;
Joy Cudmore, C.P.S.
Art - Seasonal Activity:
Raymond Raidt, Christian
School; Gerald Lambers,
Christian School; Shawn Rahbek,
Holmesville.
Poster - road safety: Bobbie
Bruinsma, Christian; Lisa
Robinson, C.P.S.; John De
Weerd, Christian.
Grade Five - Writing: Suzanne
Tamblyn, Hullett; Marjorie
continued on page 6
Anstett JeweII.'ers
LIMITED
11 ALBERT ST., CLINTON 482-3901
OPEN WEDNESDAYS.
For Your Convenience.
HOURS: Monday through Saturday, 9
a.m. - 6 p.m.; Friday nights 'till 9 p.m.
TOWN OF CLINTON AUDITOR'S REPORT
MacGillivray & Co.
Chartered Accountants
380 Wallace Ave. N., Listowel, Ontario
(519) 291-1251 Cable "Charts" LIstowel,
International
Leldesdorf MacGillivray & Co.
Moore MacGillivray & Co.
TO: The members of council, inhabitants and
ratepayers of the Town 'of Clinton
We have examined the financial statements of the Town of
Clinton and its local board for the year ended December 31, 1976. Our ex-
amination was made in`eccordance 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 Town of Clinton and its local board as at
December 31, 1976 and the results of its operations for the year then
ended in accordance with accounting principles generally accepted for Ontario
municipalities applied on a basis consistent with that of the preceding year.
LISTOWEL, ONTARIO,
April 11, 1977.
LICENSE NO. 514
CIIARTERKD ACCOUNTANTS
SI \ I'3 .511 N I (>I 111 \') \1'I
5\I) I \I'I \1>1I l l(1
7,., t7'c' },',r, ,',;,1,' l l ,r „',1:. / /97,
Capital fin,uu utg
.
Cnntt,l1u11(11i.li.,in ih, 1‘111111t 11,11,1
Cl/111,11/1.1I1,111S hunt 1e•111e funds
tnd inerts
term II.Ib11 iIC. in1i,irc•d
()loam, grants
Other
Total capital financing
l'nfii,t,tccd,.tp,t.tlsp,ndcd
apical luu.tn, mg) .1t 1 It 1,1,1 "f the )car
1151.:\\( I ti111 1 I
.0,t/ 1)„ ,•n,h, , / 1 /'7; n
.isset%
('urrcrtt asset,
Cash
,\ccunutlatud net rc%cone (deficit) at
the beginning of the s car
E \)+rndtturc
(;cncral (nim' 1))al ),111)„r.c.
General gcncrnnlcnt
['rote, tion to ),ct. 'n..an,1 propel t i
ransp'rtatt'n. , 1ciccs
F'n1trnnmcnt:t1 .ciines
1 k filth services
Social and family services
Recreation and cultural services
Planning and dctc•h,),lncnt
Other
1{c11i„n ' u , • 1111111 1""I'''"'
ti, h „il
I... ,, d ),1111,, sus
I "nal c\)„ mitt ore
Rcccnuc
General merit i))al 1,111 ),uses
1 i i 11 1)1)
P,ii'1ne'nts in lieu ,1t r.1\es
(h,t.tn., grants
Other gr.lnts
Other
Region 111 11,11uls ),111 ),11'1.
1.1v 111(1(1
}'.i) nlent. nt hcu 1.3 1,1\cS
0111 1t 1(1 r.r,ints
(hh,r
',Hold I,, 11,11, ,1,,1.1,
1'.11 n, itis 1•, hen 111 ' 1' es
001 ,1
1 nt.tt rc1 cnut
A, ctuntd.tted net rc 1, nuc (deficit) at
the end of the
511 ,l)s, d .11 t1111"1.
>1ntr 111, 1, nuc'
Region
hnnl 1111 irds
Spt, 1.11 ,11 it gcs
tips, ill artas
bit.tl b.irds
Actual
24,781
77,317
161,596
254,174
203,718
10,500
642
155,781
4,932
868,660
123,737
211,742_
469,417
22,425
295,402
22,377
97,816_
907,437
77,265
2,710
40,7 35
120,710
'04, 1 38
5,467
209,605
1,237,752
58, 394
64,458
(640)
720
(1,003)
(5,141)
58,394
3,605
77,559
155,028
236,263
158,760
8., 500
167,882
8,656
812,648
117,741
163,763
1,094,152
`442,156
19,092
262,434
21,108
83,452_ '
828,247_
99, 346
2,100
18,845
120,291
1h4,0/1
2 , 717
166,790
1,115,128
24781
1,989
2, 187
2,857
25,154
(1,806)
24,781
STA 11 511 N 1 01 ( 51'11 Al,
OPERA 1 IONS
Jilttbe )r,tr ru,lr,l1),,,,,I', r ;/ 71)7/,
Unfinanccd capital outlay (llncspcnticd c.tpit,iI
finanting) at the beginning of the >c•ar
Capital 1\penditurc
Central grnrr 1ntcnt
Protection to persnn..tnd property
Transpurtatlo11 aerates
Environmental ccrviccs
Health services
Social and family cervices
Recreation and cultural scrsiccs
Planning and dcsclnpmcnt
Other
Total cspcneliturc
Actual
S
Nil
3,261
34,424
6,465
1,434
45,584
I 71
At ural
880,284
1,783
39,975
20,588
22,691
85,031
.5111 /1,111.. 11 t, 11,iI,Ic
Inlc.tntcnts
Other current .(.sets
Capital outlay to be rc(hscrcd in
future )cars
Other long term .n.ets
45,584
45,584
Nil
1.171,
133,969
63,591
59,413
2.017
258.990
863,340
1,122,330
68,360
757,681
139,28Q
965,321
Nil
95,861
44,816
65,249
1.539
_,__2Q7.465
914,727
1,122,192
habllttit's
Current liabilities
fcnnpur,u) loans
Atc,iunts ),.Is 11,Ie 10,1 .1„1 led It.thtliric.
Oth, r 11111,11T 11 11,111t1cs
Net lung terra liabilities
Rcse•r,es and rc.1 rye' funds
Accumulated net re%enue (deficit) and
unapplied capital receipts
99,119
99,119
863,340
101,477
58,394
1,122,330
6,478
107,029 •
113,507
912,727
71,177
24,781
1,122,192
tr
NO I I ti IO1111.
IN.1N(:I,AI.5),A11 51I'NI5
For The Year Ended December 31, 1976
1. ACCOUNTING POLICIES
(a) Statement of Revenue and Expenditure
This statement reflects the revenues and expenditures of the
revenue fund of the municipality and includes the activities of
all committees of council and local boards for general municipal
activities. The local hoard whose activities are included are
as follows:
Clinton Retreat ion Cnnnnit tee
(b) Statement of Capital Operations
(i) This statement refl)'cts the capital expenditures and the
related capital financing to he recovered from general
municipal revenues of the mun•ictpality and its local hoard
described in note 1 (a).
(c) Balance Sheet
This statement reflects the assets and'lIahilities of the revenue
fund, the capital fund, reserve funds and the Intal hoard des-
cribed in note 1 (a). The assets and liabilities for municipal
enterprises as defined in note 1 (e) are not reflected except to
the extent of the related net long term liabilities and capital
outlay to be recovercd'tn future years.
(d) Fixed Assets
(e)
The historical cost and accumulated depreciation of fixed assets
is not reported for municipal purposes. Instead (Tie "Capital
outlay to be recovered in future years" which is the aggregate of
the principal portion of unmatured long ,term liabilities, capital
funds transferred.to other organizations, and the cost df capital
projects not yet permanently financed, is reported on the
"Balance Sheet".
Municipal Enterprises
The revenues And expenditures for municipal enterprise activities
are not reflected in the "Statement of Revenue and Expenditure"
except to the extent that their expenditures are recovered from
general municipal revenues.
Municipal enterprise activities are those activities whose costs
are substantially recovered from service charges on the users and
are as follows:
Clinton Ptiblic'Utilities Commission
(f) Charges for Net long Term Liabilities
Debt retirement costs including principal and interest are charged
against current revenues in the periods in which they are paid.
Interest'charges'are not accrued for the periods from th'e dates of
the latest interest payments to the end of the financial year.
(g) Trust Funds
Trust funds administered by the municipality amounting to $46,657
have not been included in these financial statements. .
2. CAPITAL OUTLAY TO BE RICOVERED IN FUTURE YEARS
(a) Some capital outlay to be recovered in future years does not repre-
sent a burden on general municipal revenues, as it is to be 'recovered
in future years from other sources.
(h)
Special charges on benefitting
landowners
Municipal enterprises
1976 "1975
$703,340
5 00
$705,840
;721,891
_ 41500
5726,391
Capital outlays, including fixed russets and the transfers of capital
funds in the amount of $45,584 which have been financed from general
municipal revenues of the current year, are reported on the "State-
ment of Revenue and Expenditure".
3. RESERVES AND RESERVE HINDS
4.
(a) Provision for reserves amounting to $15,000 .'ire reported on the
"Statement of Revenue and Expenditure" classified under the appro-
priate headings.
(h)
The "Statement of Revenue and Expenditure" does not reflect the
following revenues for the year which are credited directly to
reserve funds:
Income from investments
For the Ontario (Home R,•n,wal Plan
1976
$ 275
19 000
$ 19,275
1975
$ 174
9,500
$ 9,674
(c) The total balance or reserve funds is $101,477 and. is comprised -of
the following:
NET
Reserves 1976
For working capital $ 73,000
Reserve funds
From contrihul.ions by subdividers $ 838
For the Ontario Home Renewal Plan 26,721
For Waterworks Surplus 918
$ 28,477
LONG TERM LIABILITIES
(a) The balance for net long term liabilities reported on the
"Balance Sheet" is made up of t.},le following:
1975
$ 58,000
$ 777
9,500
2900
$ 13,177
Total lollg tern liabilities incurred b, the munici-
pality including those incurred on behalf of former
school boards, other municipalities and municipal .
' enterprises and outstanding at the end of the year .
amount to $1,004,340
Of the long tern liabilities shown above, the re-
sponsibility for payment of principal and interest
charges has been assumed -by others for a principal
amount of
141000
Net long term liabilities at the end of the year $ 863,340
(6) Of the net long I ern, 1 iabi l i t ies report ed in (a) of this
note $220,606 in principal payments are payable from
1977 to 1981, $211,448 from 1982 to 1986 and $391,286
thereafter and are summarized as follows:
1977
to
1981
1982
to
1986
1987
a n'd
thereafter
Froin general municipal revenues $'90,500 $ 67,000 $ -
From benefitting. landowners 127,606 184,448 391,386
From (municipal enterprises ,__j, 00 --
$220,606 $251,448 $391,286
5. ACCUMU1A'rED NET REVENUE (DEFICIT) AT THE END OF THE YEAR
Accumulated net re enue (deficit) of $(1,003) at the end of the
year reported on tle "Balance Sheet" includes amounts related
to benefitting landowners which ace not available as general
municipal revenues, and arc analysed as follows:
1976
1975
Special charges for
- sewers $ 60,682 $ 63,902
- sewage department (61,685) (38,548)
6. CHARGES FOR NET LONG TERM LIABTI.I'I'IES
Total charges for the yc',tr for net long term 11,a-
hilities were as follows:
$( 1,003) $ 25,354
1976 1975
Principal payments including contributions
to sinking funds and to the Ministry of the
Environment $ 51,387 $ 41,508
Interest 78484 4962
$129,871 $ 84,470
Of the total charges shown'above $127,646 were paid from general
municipal revenues of the municipality and are included in ex-
penditure on the "Statement of Revenue and Expenditure" classified
under the appropriate functional headings. The remaining $2,225
were recovered from municipal enterprises for which the related
net long term liabilities were incurred, and are not reflected in
the.statement. ' ' "
7. LIABILITY FOR VESTED SICK T.F.AVE BENEFITS
Under the sick leave plan, unused sick leave can accumulate 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 terminating,
amounted to $14,468 at the end of the year. No provision has been
made for this liability.
8. THE ANTI-TNE'I.A1'ION ACT
The municipality, its local hoards and commissions are by agreement
between the Government of Canada and the Government of the Province
of Ontario dated January 13, 1976 subject to The Anti-inflation Act
(Canada) and the national guidelines. This legislation limits in-
creases in compensation payments effective October 14', 1975. No
provision has been made in these financial statements for any possible
effects of the legislation on this municipality.
•