The Brussels Post, 1974-03-27, Page 141973 1972
REVENUE
Taxation 272,273 278,768
Contributions from other governments 1'11,967 79,532
Other 11,374 13,031
395,614 371,331
Accumulated net revenue fdeficitiat
at the end of the year 41,349 21.041
Analysed as follows:
General revenue 38,209 17,021
Special charges 3,525 2,712
Police Villages ( 385) 1,308
41,349 21,041
Capital Fund Operations
year ended December 31, 1973
CAPITAL FINANCING
Long term liabilities incurred
Unfinanced capital outlay (Unexpended
capital financing) at the end ofthe year
1972
. Nil.
17,100
17,100
Consolidated Balance Sheet
' for the year ended December 31, 1973
LIABILITIES CURRENT LIABILITIES
Temporary loans (Statement 7, Note 5)
AcCounts payable and accrued liabilities
Other current liabilities
217,935
42,253
268,367
64,846
Note 1 NET LONG TERM LIABILITIES
Total long term liabilities incurred by the
Municipality and outstanding at the end of
the year amount to $328,053
which will require certain lands to be specially
assessed, have been included in the net long term
liabilities classified under general municipal
activities. The bases and the amount of these
assessments are as follows:
The Tile Drainage Act $142,559
The Drainage Act 1,494
$144,053
(This amount is included with "Net Long Term
Liabilities" on the Capital Fund Balance Sheet,
Statement 3.)
Note 4 BASIS OF CONSOLIDATION
The Consolidated Balance Sheet (Statement 3)
reflects the assets and liabilities of the
revenue fund and the capital fund of the
municipality. Trust funds administered by the
municipality, amounting to $1,228, have not
been consolidated, nor have the assets and liabilities
of any local boards of the municipality,
Note 5 TEMPORARY BOBROWIN6S
Temporary borrowings at the year-end amounted to
$175;000 for current purposes.
The lean for dittent purposes is in tiCeSS of the
inaximunt parnitted tinder Section 329 -(3) of
the Municipal Act,
Of the outstanding long term liabilities shown
above, the responsibility for payment of
principal 'and interest charges has been assumed
by others. The principal amount of which at the
end of the year is (184,000)
Net Long Term Liabilities at the end of the year $144,053
(Statement 3)
Note 2 CHARGES FOR NET LONG TERM LIABILITIES
Total "charges for the year for net long term
liabilities' were as follows:
Principal Payments $ 20,178
Interest 5i 689
$ 25;867
The total charges shown above Were paid from
the general revenues of the Municipality and are
included in expenditure classified tinder the
appropriate functional,headingS. (These charges
are included in the "Total Expenditure'' of
$375,306, en Statement L.-) '
Note 3 NET LONG TERM LIABILITIES TO BE SPECIALLY
ASSESSED
Certain net long term liabilities; the terns of
News of
Cron brook
Correspondent
Mrs. Mac Engel
The first meeting of the 4-H
Club was held at the home of
Mrs. John Strickler on March 21.
The meeting opened with the 4-H
pledge. The following are the
officers; President-Helen He-
therington; Vice-President-Karen
Dilworth; Treasurer-Lynn Cam-
eron; Secretary-Joan Hort; -Press
Reporter-Sharon Engel.
Mrs. Strickler discussed "Is
• your image important?" The next
meeting will be on April 6 at 9:30
a.m. at the home of Mrs. Jim
Hart.
• Mrs. Calvin Cameron received
the sad news of. the death by
drowning at Vancouver of Miss
Jane Morritt, 21-year old daugh-
ter of Mr. and Mrs. John Morritt,
Toronto. Mrs. Morritt is the
former Nancy Cameron, daughter
of former Cranbrook residents,
Mr. and Mrs. Jack Cameron, The
funeral was held in Toronto on
March 14.
Mr. and Mrs. Howard Mitchell,
fhorold, ..have returned to their
louse here.
80th Birthday
Mrs. Stuart Evans, Clinton,
held open house on Saturday
afternoon, March 23, in honor of
the 80th birthday of her mother,
Mrs. Beatrice Young. Attending
from Cranbrook were Mrs. Calvin
Cameron, Mrs. Earl Dunn, and.
Mrs. Mac Engel.
Tracy and Danny Jacklin,
Bloomingdale, spent several days
last week with their grandpar-
ents, Mr. and Mrs. Earl Dunn..
Jennifer Weber, Listowel, also
visited at the same home.
Mr. and Mrs. Wm. J. Perrie
attended a smorgasbord and
presentation at the West
Adelaide Church held in honor of
their son and daughter-in-law,
Rev. and Mrs. James Perrie on
Friday, Mar ch 15th. The same
couple were also • honored at a
smorgasbord and presentation at
Centre Road Church on Tuesday,
March 19th. Mr. and Mrs. Wm.
J. Perrie and Mr. and Mrs.
Donald. Perrie and family
attended.
Mr. and Mrs. Wm. J. Perrie
attended a smorgasbord and
presentation at the West
Adelaide Church held in honor of
their son.
Hockey teams
(Continued from page 12)
Ilderton: Darryl Roberts Norman
Campbell; Milverton: Ronald
Bowman; Chesley: Paul
MacDermid; Arthur: Dave
Mullin; Harriston: Darwin weber.
The Optimist Club would like to
thank all the teams for partici-
pating, the volunteer helpers who
made the weekend successful and
the hockey fans of Brussels for
supporting the event. By all
indications we will make this an
annual event.
A DIVISION CHAMPIONSHIP
St, Marys 7 Walkerton 2
SEMI FINALS
St. Marys 3 Mitchell 2 (OT)
Walkerton 4 Seaforth 3 (OT)
QUARTERFINALS
Mitchell 6 Witighatt 3
St. Marys 4 Port Elgin 2
Walkerton 5 Elmira 3
Seaforth 17 Southampton 1
B DIVISION otAivipioNsitip
Palmerston 4 Zurich
SEMI FINALS
Zurich 4 Brussels 3
Palmerston3 Ilderton 1
QtAitirtrt VINALS
Zurich Milverton
BriisSels 3 Cliesley 2
Ilderton 8 Arthur 2
Palmerston HatriSton
Township of Grey Auditor's Report
March 5th, 1974
To: The Members of Council, Inhab itants
and Ratepayers
We have examined the 1973 •financial statements of the
Corporation of the Township of Grey and its local boards, which
are listed on the attached Index. Our examination included a
general review of the accounting procedures and such test of
accounting records and other supporting evidence as we
considered necessary in the circumstances.
In our opinion these financial statements present fairly the
financial position of the Corporation of the Township of Grey and
its local boards as at December 31st, 1973, and the results of
1973 1972
Accumulated net revenue (deficit)
at the beginning of the year 21,041 11,163
EXPENDITURE
(Statement 7,Note 2)
General government , 14,700
Protection to persons and property 10,149
Transportation services 147,666
Environmental services 1,578
Conservation of health 244
Social and family services .
Recreation and community services 1,823
• Region or county - share of expenditure
Financial expenses 20,464
67,955
Education 110,727
(375,306)
Statement of
for the
1973
Unfinanceci capital outlay (Unexpended capital
financing) at the beginning of the year Nil.
CAPITAL OUTLAY
Transfers to others
25,100
25,100
ASSETS
CURRENT ASSETS
Accounts receivable
Taxes receivable
260,188 333,213
Capital outlay to be recovered in future years144,053
139,131
404,241 472,344
25,100 17,100
( 25,100) ( 17,100)
Nil. Nil.
•175,407 259,266
10,724 20,194
861 865
186.992 280,325
Net long term liabilities
(Statement 7,Notes 1,3) 144,053 139,131
Reserves and reserve funds 31,847 31,847
Accumulated net revenue (deficit) and
unapplied capital receipts 41,349
21,041
404,241 472,344
The accompanying notes are
an integral part of this financial
statement.(Statement 7,Note 4)
their 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.
Respectfully submitted,
Monteith, Monteith & Co,
Chartered Accountants
Licence No. 4490
Stratford, Ontario.
Date of Filing March 8th, 1974,
13,451
10,705
137,681
2,859
210
65
1,461
18,062
67,955
109,004
(361,453)
Statement of Revenue and Expenditure
for the year ended December 31, 1973
Notes to Financial Statements
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