The Lucknow Sentinel, 1973-08-01, Page 151971
$ 6,465
'p 663
• $ • 863 •
6,465"
663
$ 7,128
Nil
1971
r ration Of Village Of Lucknow
Audit06. Report and Financial, %dements.
Statement of Capital nd Operations
SHE YEAR ENDED DECEMBER 31, im.
Auditor!$.:Report
A. M. HARPER Auditor GODERICH, ONTARIO
II Member of Council and Ratepayers of the Corporation of the
of Lucknow
have examined the 1972 financial statements of the Corporation
tillage of Lucknow and its local beards, which are listed on the
d index, My examination included a general review of the ac-
g procedures and such tests of accounting and other supporting
g as I considered necessary in\ the circumstances. ,
n my opinion these financial statements present .fairly the fin-
position of the Corporation of the Village of Lucknow and its
,cards as' at December 31st, 1972, and the results of their op-
s for the year then ended, in accordance with accounting prin-
generally accepted for Ontario municipalities applied on a basis
ent with that 'of the preceding year.
(Signed), A. M7 Harper
Goderich, Ontario
-June 19,1973
a Number 4440
for the year ended December 31, 1972
1972
Unfianced capital outlay (Unexpended capital fiancing)
at the beginning of the year Capital outlay
Public works
Transfers to others
Capital financing
Long term liabilities incurred 28,000
Contributions from the revenue fund 2,970
$ 30,970
Unfinanced capital outlay (unexpended capital financing)
at the end of the-year Nil
6,970
24,000
$ 30,970'
tement of Revenue and Expenditure
for the year ended December 31, 1972
indated net revenue (deficit) at
tinning of 'the year
$ 6,59i
1972.,
Belton
al government $ 15,415 13,544
reties to persons and property 10,310 12,251
a works 33,996 34,031
!don and waste removal- 3,546 3;005
tenon and community services 9,106 7,245
idol expenses 2,071 7,768
On ' 53,251' 34,830
)tior county - share Of expendittire 23,043 22,636
$150,738 . $135,310
aw
lion
*dens frim other governments
1971
(5,330)'
$123,676 $122,400„
21,609 18,2941
6,340 6,543
$151,625 $147,237
$ 7,484 $ 6,597
7,484 • 6;597
•$ ' .$ 6,597
ASSETS
Current assets
Cash
Accounts receivable
Taxes receivable
Consolidated Balance Sheet
as at December, 31, 1972
1972
$ 9,105 $ 5,876
10,334 • 28,875
6,278 7,452
r 18,128
Accounts payable and accrued liabilities 7,447 6,693 36
35
$ 7,483 $ 24,856
'Net long term liabilities $ 74,161 $ 59,014
Reserves and reserve funds 10,750 10,750
7,484 .... 6,597
$ 99,878 $101,217
25,717•
Capital outlay to be recovered in
funture years 74,161
$ 99,878
LIABIL
Currant liabilities
Temporary loans
Other current liabilities
Accumulated net'revenue (deficit) and
unapplied capital receipts
$ 43,303
59,014
001,217
Notes to Fidancial Statements
Of the total" charges shown above, $15,047 was 'paid froth the
revenue of the municipality and is included in expenditure,
classified under the appropriate functional headings, and $1,580
was recovered from the Lucknow Water System for which the
related net long term liability Was incurred.
2. BASIS OF CONSOLIDATION
The Consolidated Balance Sheet reflects the assets and liabilities
of the revenue fund and the capital fund of the municipality.
The assets and liabilities of the local boards have not been con-
solidated. ,
3. NET LONG TERM LIABILITIES
Total long term liabilities incurred by' the municipality
and outstanding at the end of the year amount to $129,1611
Of the long term liabilities shown above, the responsibility for
payment of principal and interest charges has been assumed by
the Brtice County Board of Education for a principal amount of
$ 55,000
toulated Net Revenue:
*it) at the end Of the year
relreventle
OYAL DOULTON FIGURINES
ever.popular figurines 'by Royal Doulton
Ilh!strated Top 0' the Hill and. Adrienne
WE HAVE A LARGE STOCK,
OTHER ROYAL DOULTON FIGURINES
CHM ID ,S JEWELLERY 'AND
CHINA
OWNERS W. JOS. and DEAN E. AGNEW
LUCKNOW PHONE 5284539
CHARGES FOR NET LONG TERM LIABILITIES
Total' charges for the year for net long term liabilities
were as follows:
Principal payments $12,853
Interest 3,774
$ 16,627
....••••••••rms.1.0
Net long term liabilities at the end of the year $ 74,161
4. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS
Some capital outlay does not represent a burden on general
municipal revenues, as it is to be recovered in future years
from other sources:
Municipal enterprises ... 30,900•
by
THE LUCKNOW SENTINEL, LUCKNOW, ONTARIO PAG$ fornonti PAY, AUGUST 1 1973•
ZION
Brenda Ritchie graduated from
Owen Sound Regional School of
Nursing on Saturday, July 28._
Those present at the graduation
were her parents , Mr. and Mrs.
Allan Ritchie anc,Bryce; grand-
•parents Mr. and Mrs, Wesley
Ritchie of Lucknow; Barbara
Wilkins, Ann Hackett, Mr. and
Mrs. Thonias Culbert of Crewe,
John Ritchie and. Kenny. Later'
in the evening the girls attended
a barbecue at.Doris Stoke's •
home at Belmore. Doris was one
of the nurses who graduated with
Brenda.
Mr. and Mrs. Lorne Cook
attended the Hamilton ,Reunion,on
Saturday. Sharon and Michele
Cook are spending a week in
London with their aunt Mrs.
Donna Gauntlett.
Mr, and Mrs. Allan Gibson,
Diane, Glen and Brenda spent
Friday and Saturday at Niagara.
Falls and Marineland. •
Mr. and Mrs. Jim Hunter had
her friend' Miti Bertha McMullen
of Toronto for a few days last •
week. Wanda Hunter spent the
week end at. St. Catharines.
Mr. and Mrs. Lorne Gardner
visited Saturday afternoon and
evening with Mrs. Henry Gardner
and Lane.
Mr. and Mri. Tom Helm
attended the wedding of Shirley
Noble., ,girl friend of Mrs. Helm's ,
on Saturday ,at Avening near'
Barrie. They returned home
Sunday afternoon. Janine stayed
with her grandparents Mr: and
Mrs. Robert Helm, LUcknow,
while they were away. '
Mr. and . Mrs. Donald Smith
(Shirley Gihson), Bonnie , Steven,
Wayne of London and her mother ,
Mrs. Marshall Gibson of Lucknow
visited with her brother, Mr. and
Mrs. Allan Gibson and family.
Mrs. John Hunter and Mrs.
Lorne Cook spent Thursday in
London with their mother at
Masonvilla Nursing Home.
Mr. and Mrs. Wayne Jerome,
Philip, Sherri-Lyn and Paul went
Thursday to Hamilton to spend a
few days.
DIS'TINCTIVE
WEDDING
INVITATIONS
Select your wedding
invitations from our
complete catalogue. ,
For ydu ... a Keepsake copy
of your Invitation '
in luxurious gold.
INTERNATIONAL '
•OF STRATFORD
THE
LUCKNOW
SENTINEL }