HomeMy WebLinkAboutThe Huron Expositor, 1988-07-13, Page 11Pigs. sell under pressure at stockyards
The market at Brussels Stockyards trod -
ed $2. higher on the choice steers and heifers
with the 'overfinished cattle being sharply
discounted. Cows traded $2. higher and pi
sold under pressure. There were 385 cattle,
523 pigs and 1 sheep, lambs and goats on
offer.
Choice Steers - 87.00 to 89.00 with sales to
92.00
Good Steers - 83.00 to 86.00
A limousin steer consigned by Geo. Under-
wood Farms of RR 1, Wingham, weighing
1180 lb., sold for 92.00 and was purchased by
Schoeman Meats of Jerseyville, while their
total offering of thirty-six steers averaged
1328 lb., and sold for an overall price of
.48.
A steer consigned by Jack Shiell of RR 3,
Wingham, weighing 1300 lb. sold for " 1.50,
with his total lot of seventeen steers averag-
ing 1242 lb. selling for an average price of
88.51.
Fourteen steers consigned by Maple
Emblem Farms of RR Il Dungannon,
averaging 1182 lb., sold for an overall price
of 88.59, with sales to 89.25.
Three steers consigned by Frank Dolmage
of RR 1, Seaforth, averaging 1117 lb., sold
for 89.00.
A gold steer consigned by Gary McCutcheon
of RR 4, Brussels weighing 1120 lb., sold for
88.00.
Eleven steers consigned by Terry McCarthy
of RR 1 Dublin, averaging 1288 lb., sold for
an average price of 86.24, and he had sales to
87.50.
Three steers consigned. by Cam Robertson
of RR 3, Teeswater, averaging 1037 lb., sold
€or 87.50.
A steer consigned by Donald Thornton of RR
1, Gerrie, weighing 1180 lb., sold for ;x.50.
Six steers consigned by Stam Farms of RR
4, Kincardine, averaging 1322 lb., sold for ah
overall price of 85.42, and they had sales to
87.50.
A hereford steer consigned by Kevin
Schlorff of RR 4, Hanover, weighing 940 lb.,
sold for t 1.50.
Choice Exotic Heifers - 87.00 to 90.00 with
sales to 90.25.
Good Heifers - 82.00 to x.00
A white heifer consigned by George Blake of
RR 2, .,russets, weighing 1110 lb., sold for
1,.25, and was purchased by Norwich
Packers of Norwich Ontario, while his total
offering of ten heifers averaged 1164 lb., and
sold for an overall price of 84.92.
A heifer consigned by Glen Sellars of RE 2,
Bluevale, weighing 1160 lb., sold fol 90.00
with his total lot of six heifers averaging
1215 lb. selling for an average price of 89.18.
Two black -white-faced heifers consigned by
Glen Johnston of RR 2, Bluevale averaging
1015 lb., sold for 90.0 with his total offering of
sixteen heifers averaging 1029 lb., selling for
an overall price of 86.97.
A heifer consigned by Paul Gowing of RR 2,
Bluevale, weighing 1190 lb. sold for 89.25.
Two heifers consigned by Clarence McCut-
cheon of RR 4, Brussels, averaging 1075 lb.,
sold for 88.60.
Three heifers consigned by Antone Paschier
of Blyth, averaging 1070 lb. sold for an
average price of 85.55 with sales to 88.25.
Thirteen heifers consigned by Chester
Hackett of RR 7, Lucknow, averaging 912 lb.
in weight sold for an overall price of 82.03,
and he had sales to 88.75.
A charolals heifer consigned by Joe Borges
of RR 4, Listowel weighing 1010 lb., sold for
88.50.
Choice Cows - 56.00 to 60.00
Good Cows - 52.00 to 55.00
Canners and Cutters - 48.00 to 51.00
30 - 40 lb. pigs traded to a high of .54 per lb.
40 - 50 lb. pigs traded to a high of .56 per lb.
50 - 60 lb. pigs traded to a gh of .51 per lb.
60 - 70 lb. pigs traded to a high of .52 per lb.
70 - r lb. pigs traded to a high of .54 per lb.
Light lambs traded to a highof 1.10 per lb.
Medium lambs traded to a high of .97 per lb.
Heavy lambs traded to a high of 83.50 per lb.
THE HURON, EXPOSITOR, ,JULY 13, 1988 -- 11A
Ypur support of our FLOWERS OF HOPE campaign has totalled $20,000.
Askin the past, we confined our canvass to the month of May"and fpund you
responded with your generosity in helping us reach our goal.
A special thanks to Annie Boersma, chairperson, the captains and canvas-
sers for your dedication and hard work. Canvassers go door to door in both
urban and rural areas of South Huron to raise funds so that we may continue
support to people we serve in local communities.
The support for your Association as expressed in these donations truly
comes as an encouragement as we endeavour to support others in living
useful and satisfying lives.
If you were missed on the canvass and would like to share in this effort,
please address your donation to Box 29, Dashwood, Ontario, NOM 1NO. A
tax deductible receipt will be mailed back to you with our thanks.
South Huron and District Association
for the 'Mentally Handicapped
Richard H1_ucal John J. Gray
President Executive Director
SEA O
T COMMU ITV
OSPITAL
Auditor's Report as at March 31, 1988
AUDITOR'S REPORT
To the Board of, Governors of
Seaforth Community Hospital.
SCHEDULE
1987 1988
We have examined the balance sheet of Seaforth Community Hospital as at March
31, 1988 and the etatemente of revenue and expenditure and equity and changes
in financial position 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 Seaforth Community Hospital an at March 31, 1988, and the results
of its operations and the changes in its financial position for the year then
ended is accordance with the accounting principles described in Note 1 to
these financial statements applied on a basis consistent with that of the
preceding year. ,
ADMINISTRATION
Association Fees ,
Insurance
Orf ice Machinery and Chairs
Postage
Printing
Audit Fees
Legal Fees
Public Relations
Education
Telephone
Other Supplies 6 Expenses
$1,828.55 2,845
16,887.00 17,773
16,389.69 20,753
2.680.80 3,022
20,173.26 13,664
6,150.00 6,792
2,019.00 500
8,310.01 10,525
8,436.68 16,106
22,555.05 22,604
37,538.38 37 007
142,968.42 151,587
2. Marketable securities
Marketable securities consist of deposits as follows:
Interest
Toronto Dominion Bank
National Trust - Ontario
Hospital short-term
investment fund
Toronto -Dominion Bank
Canadian Imperial Bank
of Commerce
8.02
flaturity 1988 1987
April, 1988 $219,553 $142,000
8.46%
9.75%
102
March, 1988
100,000
100,000
200,000
March, 1989 200,000 200°000
Seaforth, Ontario,
June 3, 1988. Chartered Accountants
BALANCE SHEET as at March 31, 1988
1988
PLANT OPERATION
Fuel
Water
Electricity
Insurance
Sewage
Elevator
Taxes
Other Supplies and Expenses
45,820.67 42,816
4,044.61 4,219
25,485.65 26,470
4,037.00 4,339
2,089.36 2,234
1,954.00 2,130
2,200.00 3,075
1,600.00 3,904
89,231.29 89,187
$519,553 $642,000
3. Accounts receivable
ASSETS
PLANT MAINTENANCE
Maintenance Buildings
1987 Maintenance Grounds
Maintenance Equipment
Other Supplies & Expense
Current
Cash
Marketable securities (Note 2)
Accounts receivable (Note 3)
Inventories (Note 4)
Prepaid expenses
669.84 20,725
11,245.67 4,085
38,993.97 55,349
10,699.54 4,572
61,609.02 84,731
$ 79,599
519,553
248,643
86,453
16.474
S 129,173
642,000
289,770
83,928
14.090
968.1722
Restricted
Marketable oecuritieo-(Note 5)
Fixed (Note 5).
1,158,961
STATEMENT OF CHANGES IN FINANCIAL POSITION
For The Year Ended March 31, 1988
,„r
749.254
1,529,823 721.217
03,229,799 $1,880,178
r
Operating activities
Net surplus for year
Rees not affecting working capital
Depreciation - Furniture and equipment
- Building
LIABILITIES AND EQUITY
Working capitol provided from operation
Decrease (increase) in non-cash operating
working capital
Current
Accounts payable and accrued
liabilities (Note 6)
$ 297,928 $ 277,368
Other
Deferred Government Grants (Note
Equity
5)
1,115,778
1,816,093
1.602,810
83,229,799 $1,880,178
STATEMENT OF REVENUE & EXPENDITURE &
EQUITY For The Year Ended March 31, 1988
1988 1987
Revenue
Patient services
In -patients
Out-patients
Other
Recoveries
$2,515,590
580,408
272,616
54,091
Total cash from operating activitiea
Investing activities
Purchase of fixed assets
Construction In progress
Total cash used for Investing activities
Financing activities
Government grants - capital projects
Total financing activities
Indreaae for year
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
$2,385,475
555,525
282,758
59,174
3.422,705 3.282.932
Represented by:
Cash
Marketable eecuritiek
Restricted marketable necurltlea
1988
$ 213,283
50,720
28.236
292,239 231,558
56,776 (62.125)
349.015 169,433
(57,978) (83,381)
(829.582) -
(887,560) (83,381)
1,115,778
1,115.778
577,233 86,052
771,173 685,121
$1,348,406 $771,173
$ 79,599 $129,173
519,553 642,000
749.254 -
1987
e
5156.547
46,665
28.346
51,348,406 $771,173
Accounts receivable consist of:
Services to patients
Self -pay $ 32,821
Worker's Compensation Board 1,934
Blue Crasa 8,607
Other 5,091
1988 1987
$ 36,425
2,149
4,885
2,480
48,453 45,939
Allowance for doubtful ■[counts (3,000) (3,000)
45,453 42,939
Province of Ontario, Ministry of Health 159,356 163,073
Accrued investment income 43,834 83.758
$248,643 $289,770
4. r:ventoriea
Ioventorie' .ganhiet of; -�
Medical and surgical
Drugs
• Pond
General
Radiology
1988 1987
$ 24,949 $ 24,111
34,244 32,489
4,898 4,570
20,164 19,990
2,198 2,768
$ 86,453 $ 03,928
5. Fixed assets
Fixed sweats conalst of,
Coat
1988
Accumulated
Depreciation
Land
Land improvements
Building
Furniture and
equipment
Construction in
progress
$ 36,275
18,172
830,647
16,838
462,663
1987
Net Net
S 36,275
1,334
375,904
$ 36,275
1,741
391,705
Expenditure
Professional fees
Salaries and wages
Employee benefits
Drugs, medical and surgical supplies
Laboratory
Radiology
Other therapeutics and other
General services
Other services
Plant operation and maintenance
Furniture and equipment depreciation
Building and land improvements depreciation
111,229
2,192,099
228,478
138,555
98,359
19,670
22,404
115,209
166,410
173,918
50,720
28,236
1
94,965
2,071,709
197,561
165,414
160,248
21,324
19,210
119,814
150,874
150,840
46,665
28.346
956,693 670,045
$29,502 -
$2,679,369 $1,149,546
286,648 285,496
629.582 -
$1,529,823 $721,217
Government grants have been received for construction
amounts are recorded on the balance eheet as deferred
and consist of:
See accompanying notes to financial statements.
Ministry of Health
County of Huron
projects. Theae
government grants
$1,040,778
75,000
NOTES TO THE FINANCIAL STATEMENTS,
March 31, 1988
I. Summary of eignificent accounting policies
3,345.287
Operating surplus 6or the year
Capital revenue
Grants and donations
Interest
Rent - farm
Building fund donations
Net surplus for the yeeP
Equity, beginning of year
Equity, end of year
3.206.970
$1,115,778
Unexpended grant. are held se marketable
use to the construction projects. These
consist of:
The financial etatemente have been prepared in accordance with generally
accepted accounting principles for Ontario hospitals as set forth in the
77,418 75,962 Financial Reporting Guidelines for Ontario Hospitals published by the
Institute of Chartered Accountants of Ontario and are as follows:
a) Inventory
Inventory of supplies is stated at cost es determined on the
first -in, first -oat hauls.
19,526
59,126
7,500
49.713
14,068
55,357
7,700
3.460
213,283 156,547
1,602,810 1,446,263
51,816,093 $1,602,810
SCHEDULE I
1987 1988
DRUGS, MEDICAL 6 SURGICAL SUPPLIES
Med Surg
Drugs
867,317
78,097
145,414
b) Fixed assets
securities restricted
restricted marketable
In their
aecu rities
Government of Canada Treasury Bills at
82 maturing April 15, 1988
S 749,254
Total projected costa for the projects are as follove:
Fire alarm system
Mechanical Room renovation
Conference Room renovation
Emergency wing addition
Operating room renovation
Land, building, furniture, equipment, land improvements and
construction in progress ere carried at coat. Fired asset additions
ere recorded net of any government capital funding received. When an
asset is sold or disposed of the related coat and accumulated
depreciation are removed from the respective accounts and any gain or
lose on disposition la recognized in the surplus for the year.
c) Depreciation
Depreciation expense in calculated on all depreciable aeeete
$57,272 excluding construction in progress, based on the straight-line
881293 method, utiliaing estimated lives according to generally accepted
138,555 accounting principles for Ontario hospitals as follows:
OTHER THERAPEUTICS 6 OTHERS
Nursing Units Others
O.R. Other
Pharmacy
Physio
Respiratory
GENERAL SERVICES
Laundry
Linen
Diet
Housekeeping
OTHER SERVICES
Medical Library
Medical Records
Administration (see schedule 2)
4.646 4,082
2,588 5.931
460 1.682
2,303 3,522
19,210 22,112 E The hospital pays employees for time lost due to sickness to the
extent of their earned entitlement, and upon termination of
• employment pays a portion of the unused entitlement. The policy of
30,63229,e97 the hospital is to expense these payments as well ab payments of
5,4144,557 vacation pay in the year in which the payments are made, with the
67;104 63.878 exception of vacation pay entitlement for part-time employees which
16,664
119,814 I1 17 077 is expensed and paid as earned. The hospital changed to the
Hospitals of Ontario Disability Insurance Plan (HODIP) at December
31, 1987 and the sick leave liability was frozen at the hours earned
and at the current dollars at this date. This has degreased the
6,015 7,437
maximum liability to the amount actually payable to the employee upon 1,091 termination. The maximum Iiabllitiea under each of these policies at
1,386 at March 31, which are not reflected in the accounts, were
142,968 157087 approximately:
150,874 166,410
Building
Furniture and equipment
Land improvements
40 years
5 to 20 yearn
10 years
d) Unrecorded nick leave and vacation pay liability
S 146,374
700,000
500,000
1,615,000
520.000
$3,479,374
6. Accounts payable and accrued liabilities
Accounts payable and accrued liabilities consist of
PLANT OPERATION 6 MAINTENANCE
Operation (see schedule 2) 89,231 89,187
Maintenance (see schedule 2) 61,609 84!731
8150,840 9173,918
Unrecorded sick leave liability
Unrecorded vacation pay liability
1988 1987
$165,769 $331,999
91,185 79,762
Accounts payable trade
Accrued wages and salaries
Receiver General payables
Miscellaneous payable
Deferred income
Accrued construction costs
the
following:
1988 1987
S 53,338 $ 53,751
58,758 84,922
25,239 45,958
9,008 26,514
18,262 66,223
133.323 -
$ 297,928 $277,368
weeereewee
7.
Pension Plan
Substantially all of the employees of the hospital are eligible to be
members of the Respite/a of Ontario Pension Plan which is a
multi-employer final average pay contributory pension plan. Employer
contribution, made to the Plan during the year amounted to $37,364 (1987
- $46,540). The amounts were included in employee benefits expense in
the statement of revenue, expenditure and equity.
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