The Huron Expositor, 1979-06-14, Page 23ADe I' ._ THE WISHING TOUCHES
'Members of the, Seaforth and District Lions;
Clubadd the finishing touches to their float
which they entered in the Multiple pistrict 'A'
Convention for clubs from Ontario and Quebec. .
in Niagara' ;Palls on Saturday, Club members
U fl a areleft to right) Gordon
Working on the t „�
Rimmer, Irwin Johnston, .George Hays, Judd!.
Walker, Bili Hodgert, .Bob; Plumsteel, Dave:
Hooverd; pr. ,john. Turnbull,
.(.Photo by Oke).
Id1
I
.,l
swot* Llimmk instanei
new officers Mondddy night
and completedOw* the
SSt t alnaiverss*rY carnival' •
events duet ,get under way
this week.
Based at tete,' Seaforth;
Community Centre, the 55th
anntveraary,- Carnival opens:
Friday when, the Lincoln:
Green 4,provides. aWiinging
rttusic ;with !an Irish lilt Olp
Saturday night Charlie
Eckstein appears with his:
night club eptertaillatt nt
featuring comedy and .music;
and with dancing to Accept'
ed Sounds-
The Well Drivers.: are here
on, Sunday. With theirthrilling
progltant that attract zap-
acity Crowds whenever it
shows. Throughout the three
days. Rosemont amusements
offer carnival.rides and there
will: be games, of chance,
penny sale and refreshment
booth.'
bull
The carnival events POO _
tinUe the felloWing Week
whoa elobai T eti11: broad,
(cast the Wintacio draw' from'
Seaforth: When the program
will feature area talent. On
Saturday night the' Carleton
Show Band appears,
President Gordon,' Rimmer
was in charge of the meeting
lwhichfeatured a steak
Bar -B.1) at which wives were
guests and which was.
arranged blr, Mel Brady and
Jud Walker; Intended to
be held at the Lions park
the event was movedta the
community centre because of
cold weather.,
The club reaffirmed its
intention to: ,Meet .committ-
ments, concerning a reno
vaton: program, at Lions Park.
The committment was re-
quested by Wintario whoit
is hoped will, assist in
financing..
The $25 'monthly .prize: in.
4,Pi 1E)(00141014 IU*
or 440W**
W**MOO
lwM
drawl was won '1
Hetherington.
The installation..ceremony,
was conducted by past dist-
rice deputy governor Orville
Oke assisted by, Clair
Campbell, S, Larone, J,l.
Scott, Gordon Beutenmiiier„
Stewart G.A. W!utney
LIcu
L
o +,
Past Prielident
fir; pte.sidefit
'rtirnbull; est vice
Pickard; Zn41. vice
l) RW Hods* od Sok
Platianfeel; Lien t*
Leoathatdt.; Tail
4teOen)1l1ey and W',
Retiring. president Gordo!,
Johnston;. v ce Rirnaler a rpreased. t
McLaughlin; S,tion for thecOOPeratielt
.
John Tailbot, Treasurer - Judhad received during lilyyear'
Walker; Dilesbors - Darwin in office.
Ban a man .te W rt Coup
nasaly .$8.JO donate
There has- been ''it ready C Nobel! - 510.00; E.Y.
response to the annual camp-
aign to assist with mainten-
ance costs at the Seaforth
Lions Park and officials, this
week " acknowledged gifts
totalling $794,00.
Among those contributing
to date are: Mrs. A. Laverty -
525.00; C. Doitor - $10.00; G,
Papple , $10.00; R. Gordon -
510.00; R.S. MacDonald: -
$10.00; G.T. Little $10.00;
Whiteley - 510.00; L. Hugill
510,00; M. Turral - 510.00;
Seaforth Automotive &
Industrilal Supply - 510.00;
W. Thompson 56.00; 3.A.
Stewart - $25.00; J.P. Baker;
- $10.00; Mrs. 11. Close. -
55.00; W'.J. Ili*mpson'.
510,00; J.J. Maloney - S$.001
ID.M. Twynham - 510.00;,
M.C, Park - 510.00; J. Bowen
. $15.00 Ira_.. Margaret
Mennelt 52.00; Mrs. E.
Dinsmore 55.00; S.L.
Phillips - $25.00;: E. Delvec-
thio -510.00; SeaforthJevv. el*
leis -$2.5,00; Miss 44,.
Mc$ichoi 510.00; !ir
Sienton: $10.1)0; E. McCart-
ney - 310.00; L. McCluskle
510.00; G.D.Cooper
510.00;. A, Hildebrand
$5.00 A. Philips -.510.00; D.
Dodds - 510.00; A. Nicholson
�C�ntinued' on Page 12:
Town of S�aforth
The Mayor, Member* of council
and Ratepayers,
Municipal Carporation.:et the:
Tor, of Seaforth'
lee tlave:examined the balance sheet of the: Municipal:.CorporatLon
of the town.of Seaforth as:aF December. 31, 1978 and the related statements of
revenue '4:14 expenditure', capital operationsrend reserve and reserve funds for:
the year then ended. Our examination wee lade in: accordance.with:'generally
accepted auditing standards; and accordingly included such teats and"other
procedures as we conaidered;flecessary dd the circumstances.
Accumulated net revenue (deficit) at
the beginning of the year
Expenditures and transfers
Stuntcipal expenditures
General government,
Protection to persons and property
Transportation services
Environmental services -
'Health services
Social:and faintly services
Recreation and cultural services
Planning and development
Other Transfer to reserve for
working funds •
Total expenditure
Transfers
• Transfers to region or t:ounty
• Transfers to schooi'boards
Total transfers
Total expenditures and transfers
Revenue by purpose.
Municipal purposes
Taxation
"\-Payments in•.lieu'of !pica
Ontario, grants
• Other grants:.
Fees and service charges
Other 'Transfer ftcotti working.
• -capital fund
Revenue to pay for municipal purposes'
Unftnanced'capitaloutlay (ilnexpended capital
financing) at the•beginningof the year
Capitalexpenditure
General government
Protection to persons and property
Transportation services
Environmental services
Health services
Social and family services
Recreation and cultural services
Planning and development
Other •
Total expenditure
Current assets
Cash
Taxes receivable
Accounts receivable
Other current assets
Investmente,'(pledged) ,
Prepaid' insurance.
Capital. outliy to be recovered in
future years
Other long term assets
Accounting policies
• (a)
1978
Budget'
$
(21,936)
, 75,573.
126,329 ..
100,016.
143,145
-6,850`
_,63,078
4,550
25,000'.
544,541 `1
83,154,,
168,671
251,825
796.366
264,594
16.925
256,465
16,191
12,302
• 566,477
difor's Report
In. our opinion, these: financial atatetaents, present fairly the
financial posttion.Of' the. Municipal Corporation of'.the. Town of 'Seaforth; as at
December 31, 117$ and the results of its operations for 'the year. then• ended• ijt•
accordance with accounting principles generally aceepted ter Ontario munici=
'patties appo.kd sit .a,basis. consisteat with rhat of: the •receding:yeer.
'London, Canada.
March 9, 1979.
STATEMENT OF REVENUE AND., EXPENDITURE
for the year e,rdcd Dticcmher 31,108
1978
Actual
S
(21.936)
120,828
129,251
122,322
251,097
3,419
76,687
6,918
710.5,22 I ,'
83,864
171,042'
254,906
965,428
304,829
17,355
268,879
16,191 •
•.102,818
710,072 •
1478
Actual.
,
27,105
481
123,786.
'17,407
1977
Actual
$
(36,776)
73,884•
125', 356.
81,129'
249,285
•
7,324
:226.,756
6,617
770,351
82,613
168.162
.250,775
, "10021,126
281;409;
16,924..;
358,450.
15.718'
:600741
42,194
784.436
Region or county: requisition
Taxation
Payments in lieuof taxes
'Ontario grants
Other
CharteredAccouleranttr;
Licence Number 713.
Revenue to pay the region or county requisition
School board requisition
Taxation
Paymentsin lieu of taxes
Other
Revenue to pay the school board requisition
Total revenue
Accumulated net revenue (deficit) at
the end of the year
Analysed as follows:
'General revenue
Region or county
School boards
Special charges
Special areas
Local boards
Municipal enterprises
',Waterworks operations
'STATEMENT OF.CAP-i'Trm.OPERATIONS
for rhe year ettdett December 31; 1978 •
1977:. Capital financing .
Actual;
168,879
1978
99,143
42;37i
64,059
40,500
12.:830:
258.908
69',000
5:3',059
380,967
39;717
5,537
, 97,851
'158,133'
Contributions from the revenue; fund
Contributions from reserve funds
and reserves
Long term liabilities incurred
Ontario. grants
Other'
Total capital financing
50,393' •
32,761
83,154
•:168,671
168,671 •
818,302•
51,614
32,761
.84, 375
172;815`
60,478:
' 22,34:1
82.819 .:
168,711
172,815...' 168,711
967,262 , '1,035,966
__011211. (21,936)
(23;387) (29,278)
216 (73).
799 (227)
2,270
(20,102)
Unfinan cd capital outlay (Unexpended.
261.521. capital financing) at the end of the year '
• „,atear 6,ea74par,BALANCE SHEET o b+sfrt[ut,,auimsnL
eat December 31, 1978
1977
5.
8,3.22
33,653
87,252.
'24',500
15,282 '
169 009
74,000
28,568'
271,577
Current liabilities
Temporary loans, (partially secured)'
Accounts payable and accrued liabilities
Other current liabilities'
Ncr long term liabilities
, Reserves and reserve funds
Accumulated net revenue (deficit) and
unapplied capital receipts'
NOTES TO.THE FINANCIAL. STATEMENTS
Stateptent of revenue And expenditure
This ptaterdant reflects; the re
venues and' expenditures of the revenue:
arc o total boards or 'rnunici al a
fund:, There n p. enterprises consolidated; in these
results.
(b) Statement of Capital operations
Tttie statement reflects the capital expenditure of the municipality
to be recovered'trom the general inunioipel xevenue of the municipality'.•
(c) Biaianceoeheet
This •statement 'reflects the assets aril liabiii'tiee It the revenue
fund, the, eapitel fund And reeetve funds.
.(d)' Fixed .Assets
the htetoridal coat and accutuleted depreciation of fixed *duets tai
not gep6'rtedtfee mun'icipat.purpoees.'' instead,: the "Cspttat Outlay to be red) eyed
itt future yearn" which e.the-principal portion of utsieltured long tern liabilitieer•
to reported on that banana* ' t
130,491 ..
38,388
. :168.879'
(21,936)
. 200,900'
45,965
245,965,...
69,000'
86 ;104',
(20,102)
380",96.7:._
(b).
NOTES TO 'EINANCIAL,'STA EMENTS cont`d
Total long gars} liabilities incurred by
the municipality and outstanding at
the end of the year amount to
Of the long term liabilities shown above,
the responsibility for payment of
principal and interest charger hal.
been assumed by others ter a prip,cip,al
amount of
8469,00.0
400.000
Net, long term liabilities'at cat 040' Of:
the year %Luta
pn'Janusry 1, 1969, the Huron County board of Education. asueed-froet
the municipality the.responeibLlity for the pint: of the principal and interest
charges on the. debentures issued•for school board purposes.
3. Acewmalated nettevenue'(deficit)
at the end of the:'Year '
The balance'in'the reteenue fund et, the Year end is available to- be
added to the levies of the following classes of ratepayers
1978 1977 .
General ratepayers $(21,117) $(21,636)'
School board ratepayers 799 (227)
" ratepayers 216 _ ' (73).
$120.102) 4444i10 p.
4. Charges for net long term 'liabilities
-municipal
Statement
headings.
Total charges for the year'for long term liabilities were as. follows:
Principal payments including
contributions to sinking,
funds and to the. Ministry of
Environment Debt. Retirement
Fund $ 5,000. $ 5,000,
interest, 7:.,275+ 7,775
Of the total charges shown above,;$12,l75' was paid from general
1978..' 1977
revenues of themunicipality and are included in expenditures on the
of Revenue and Expenditure classified; under the appropriate functional
.Liability for vested sick
leave benefits
Under the sick leave 'benefit .plan, unused sick leave can.;'accumuiete
andemployees may become entitled to .a cash paynent`when they leave the.oludici-'
pality's; employment.
150,800 The liability for. these'acciimulated days' to the extent_ that they have ,
vested'and could be taken in cash by an employee oniterminting, amounted to 84,000
150,43,8 at theend of the year. No provision has been made„for this liability.
301.238 6, :Changes in consoiioe,.ion,
In 1978 the municipality has included in its-rebenue* the net revenue
of Hatervorks amounting to $2,270..
7 ,Investments .
The investments :included in cut'rent assettl of $40,500 are recorded at.
95,'000,
78,698
.'173 ,698',
74,00n
45,815
(21,936)
271,577_,
(e)' Muitloipah enterprises
Mtuticipal enterprises are thole ,activities whose costs are,
substantially recoveeed:fern service charges on the users. 'The enterprise of this
municipality trhose,revenues end,e*penditures have not been consolidated in cheeks'
littandiaL atetetneti:ts is Watertiiorks.
(f) • Charges for net long term liablitiilli'
Debt retirement coats ittcludirrg prLncip"al and. interest are charged,
against durrent revenues in the periodiii in: afrlcl't •they 'Ctei p&8d' • 'tette=est chargee .
Bre :nO . ,accrued for the ;peridda '(°recur(' eke date of the Iliteet. ifiteres't 'payment to• tba
end of the financial ysaie,
2. Net long term,liebtl'itiee
(a) 2'Tie batanes for not ions• tertir"l abi1itie*, reperterl.en the'toilette
sheet is made uls of4 he illtii+%ng1
cost and have a market value of $35,938 as at the end of ,the year.
RESERVE AND RESERVE, FUNDS
STATEMENT OF CONTINUITY AND
ANALYSIS OF YEAR END POSITION
for the year ended December 31, 1978:.:
Available at the beginning of the year for,
future municipal purposes'
Revenue'.
Contributions from the revenue fund
Contributions. From developers
Ontario Home Renewal grants
• - interest On
1.978:
Actual
45.815
2,500
11,360
70,000
loans 2,779
Interest earned 1,000
Expenditure ' •
Transfers 10 the capital fund
Transfers id the revenue'fund
Ontario ltos>c RanevaI Plan loans foTgive
direct'chargei
for aditni-
•tratio
87,639
39,046
8.304
47,350
Available it the yearend tot' future
Municipal purposes 86,104
ANALYSIS 0$ Yh,4RANO'POSITi0
as df December 31.1978
Reserve'funds
.Ontario Hon*Reneaaf Program
.Industrial.Resetve Fund'
Year ettd po%ition of reseriet•
and res'ervte funds
60,941
25wt61.
1977
Actual
$
' 84,965'
2,500
800.
33,244
423 •
36 ,96'7
42,194
33,923
76,117.
45,815
35,512
10,303
e6'4O% 45,815
+�..1 •`.