HomeMy WebLinkAboutZurich Citizens News, 1971-07-01, Page 13AUDITOR'S REPORT
To The Supporters Of
The Huron County Board Of Education
I have examined the Revenue Fund and Capital (Building) Fund Balance Sheets of the Huron County
Board of Education as at December 31, 1970 and the Statements of Revenue Fund Revenue and
Expenditure and Source and Application of Capital Funds for the year then ended. My examination
included a general review of the accounting procedures and such tests of accounting records and other
supporting evidence as I considered necessary in the circumstances.
In my opinion these Financial Statements present fairly the financial position of the Board as at
December 31, 1970 and the results of its operations and the source and application of its capital funds for
the year then ended, in accordance with accounting principals generally accepted for Ontario School Boards
applied on a basis consistent with that of the preceding year except for the apportionment of head office
expenses, which were pro -rated on a daily enrolment basis in 1970, compared to an apportionment to
direct cost basis in 1969.
A. M. Harper
Goderich, Ontario
Date of filing May 7, 1971
Huron County Board Of Education
REVENUE FUND BALANCE SHEET
AS AT DECEMBER 31, 1970
ASSETS LIABILITIES
Bank Indebtedness $ 78,310
Cash $ 1,970.
Accounts Receivable
Municipalities (including under
requisitions) 12 5, 811
Government of Ontario 683,068
Other 212,287
Other Assets 65,882
Deficit - Predecesor Boards as at
January 1, 1969 145,261
Total $ 1,234,279
Dated June 21, 1971
Robert M. Elliott
APPROVED
Accounts Payable and
Accrued Liabilities
Municipalities (including
over requisitions) 37,244
Other 955,307
Other Liabilities 47,262
Surplus - Predecessor Boards as at
January 1, 1969 116,156
Total $ 1,234,279
Dated June 21, 1971
J. J. Cochrane
ELEMENTARY'
REVENUE FUND STATEMENT OF REVENUE AND EXPENDITURE
FOR THE YEAR
REVENUE
Local Taxation
Requisition and Supplementary
Taxes, etc. $ 1,362,245
Under or Over Requisition
to be adjusted in 1971 13,624
Government of Ontario 3,774,656
Government of Canada 11,204
Other School Boards 16,426
Other 25,406
Total Revenue $ 5,203,561
REVENUE
ENDED DECEMBER 31, 1970
EXPENDITURE
Business Administration and
Computer Services $ 108,941
Instruction 3,148,962
Educational Services 131,712
Attendance, Health and
Food Services 1,398
Plant Operation and
Maintenance 504,556
Transportation 566,130
Tuition Fees 14,246
Other Operating Expenditure 8,431
Debt Charges 703,403
Non -Operating Expenditure 15,782
Total Expenditure $ 5,203,561
SECONDARY
FUND STATEMENT OF REVENUE AND EXPENDITURE
REVENUE
FOR THE YEAR ENDED
Local Taxation
Requisition and Supplementary
Taxes, etc. $ 1,492,745
Under or Over Requisition to be
adjusted in 1971 40,833
Government of Ontario 3,196,273
Government of Canada 104,173
Other School Boards 537,073
Other 83,232
Total Revenue $ 5,454,329
DECEMBER 31, 1970
EXPENDITURE
Business Administration and
Computer Services $ 60,485
Instruction 3,620,968
Educational Services 81,741
Attendance, Health and
Food Services 76,527
Plant Operation and Maintenance 433,992
Transportation 43 5, 742
Tuition Fees 244,587
Other Operating Expenditure 11,486
Debt Charges 471,463
Non -Operating Expenditure 17,338
Total Expenditure $ 5,454,329
CAPITAL (BUILDING) FUND BALANCE SHEET
AS AT DECEMBER 31, 1970
ASSETS
Cash
Fixed Assets
Total
$ 13,226
23,528,495
$23,541,721
LIABILITIES
Long -Term Debt
Investment in Fixed Assets
$ 8,591,725
14,949,996
Total $23,541,721
ELEMENTARY
STATEMENT OF SOURCE AND APPLICATION OF CAPITAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1970
SOURCE
Capital Expenditure from the
Revenue Fund $322,606
Other 1,191
Total
APPLICATION
Fixed Assets
Buildings $ 8,720
Furniture and Equipment 149,742
School Sites and
$323,797 Improvements thereto 200
Buses 169,601
Total
Net Change in Capital Funds
Unexpended Funds or (Amounts Not
Permanently Financed)
Balance at Beginning of the Year
Balance at the End of the Year
SECONDARY
STATEMENT OF SOURCE AND APPLICATION OF CAPITAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1970
SOURCE
$ 77
423
Canada
Ontario
Capital Expenditure from the
Revenue Fund
Total
32,174
$ 32,674
APPLICATION
Fixed Assets
Buildings $ 5,490
Furniture and Equipment 32,174
Total
Net Change in Capital Funds
Unexpended Funds or (Amounts Not
Permanently Financed)
Balance at Beginning of the Year
$328,263
(4,466)
28,965
$ 24,499
$ 37,664
(4,990)
(6,283)
Balance at the End of the Year $(11,273)