The Brussels Post, 1975-03-26, Page 17BS
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Township of Grey-Auditor's Rep0rt
To: The Members of Council, Inhabitants
and Ratepayers.
We have examined the 1974 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
gederal 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, 1974, and the results of
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..
Respectfuny suu
Monteith, Monteith & Co.
Chartered Accountants
Licence No. 122
Stratford, Ontario
Date of Filing. March 8th, 1975
March 5th,. 1975
( 499,666.) ( 372,692)
( 20,885) 41,349
Statement of Capital Fund Operations
for the year ended December 31, 1974
CAPITAL FINANCING
Long term liabilities incurred
Contributions from other governments
Contributions from the revenue fund
_ Other
Unfinanced capital outlay [Unexpended
capital financing] at the end of the year
1974 1973
98,400 25,100
48,456
61,042
400
(208,298) (25,100)
NIL NIL
1974 1973
55,851 175,407
40,427 10,724
9,089 861
105,367 186,992
1974
1973
Unfinanced capital outlay [Unexpended capital $
financing] at the beginning of the year NIL
NIL
CAPITAL OUTLAY
Capital expenditure
Protection to persons and property 49,328
Transportation services 60,570
Transfers to others 98,400 25,100
208,298
25,100
Net long term liabilities
(Statement 7, Notes 1, 3)
Reserves and reserve funds
Accumulated net revenue[deficit] and
unapplied capital receipts
The accompanying notes are an
integral part of this financial statement.
(Statement 7, Note 4)
Notes to Financial Statements
Note 3 NET LONG TERM LIABILITIES TO BE SPECIALLY
ASSESSED
Certain net long term liabilities, the terms of
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
The Drainage Act
(This amount is included with "Net Long Term
Liabilities" on the Capital Fund Balance Sheet,
Statetnent 3)
Note 4 BASIS OF CONSOUBATION
The Consolidated Balance Sheet (Statement 3)
reflects the assets and liabilities of the
revenue fund and the capital fond of the
Municipality, Trust funds ridthinistered by the
municipality, amounting to $1,390, have not
been consolidated, nor have the assets and liabilities
of any local boards of the municipality,
THE BRUSSELS POST,. NIARcH 26, 16/6
$ 191,98
27,469
• $219,377
Accumulated net revenue (deficit) at
the beginning of the year
EXPENDITURE (Statement 7, Note 2)
General,gover.nment
Protection to persons and property
Transportation services
Environmental services
Conservation of health
Recreation and community services
Financial expenses
Region or county-share of expenditure
Education
Statement of Revenue and Expenditure
for the year ended December h , 1974
18,405 14,700
59,122 10,149
184,920 147,666
1,560 1,578
231 244
1,909 1,823
41,220 20,464
75,347 65,341
116:952 110,727
1974 1973
41,349 .21,041
REVENUE
Taxation
Contributions from other governments
Other
Accumulated net revenue [deficit] at
the end of the year (20,885) 41,349
Analysed as follows:
General revenue
Special charges
Police villages
1974
1973
$
256,620 247,897
143,582
109,353
37,230
35,750
437,432 393,000
Consolidated Balance Sheet
as at December 31, 1974
LIABILITIES
Current Liabilities
Temporary loans
Accounts payab le and accrued liabilities
Other current liabilities
134,482 260,188
ASSETS
Current Assets
Accounts receivable
Taxes receivable
1974 1973
$ S
95,136 217,935
39,346 42,253
Capital outlay to be recovered in
future years 219,377 144,053
353,859 404,241
219,377 144,053
50,000 31,847
(20,885) 41,349
353,859 404;241
Note I NET LONG TERM LIABILITIES
Total long term liabilities incurred by the
municipality and outstanding at the end of
the year amount to $ 390,377
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 (171,000.1
Net Long Term Liabilities at the END OF THE YEAR $219,377
(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
Interest
$ 29,465
The total e,hAfgeS, shown above were paid from
the. general revenues of the municipality and are.
included in expenditure classified under` the
appropriate functional headings. (These charges
are 'included iti the "Total Expenditure" of
.S4005'666, on, Statertietit 1).
$ .23,077
6,318
(26,411) 38,209
5,123 . 3,525
403. ( 385)
Brussels
Stockyard
Report
The market at Brussels
Stockyards Friday was very active
with a good demand on all classes
o f cattle. Steers and heifers
traded at firmer prices.
Choice Steers - 38,00 to 40,00
with sales to 40.85
Good Steers - 37.00 to 39.00
Three steers consigned by
Harvey Featherstone & Son of
Moorefield, averaging 1190 lbs.
sold for 40.85 with his package of
8 steers averaging 1205 lbs.
bringing 40.20.
A steer consigned by Tom
McPherson of Teeswater
weighing 1140 lbs. sold for 40.25.
A steer consigned by William
Pi:1ton 1 of Wingham weighing
1000 lbs. sold at 40.00.
8 Steers consigned by Murray
Bray of Wroxeter, averaging 1064
lbs. sold for 40.00.
A steer consigned by Bob
Grasby of R.R.4, B russels,
weighing 1110 lbs. sold for 40.50
with his package of 7 steers
averaging 1070 lbs. selling for
39.80.
Twelve steers consigned by
Glen Johnston of R.R.2, Bluevale,
averaging 1092 lbs. sold for
39.65.
Three steers consigned by
Donegal Farms of Atwood .
averaging 1050 lbs. sold for
39.25.
Fourteen steers consigned by
Lloyd Winters of R.R.5, Mildmay,
averaging 1026 lbs. sold for
39.60.
Choice Heifers '- 35.00 to 36.00
with sales to 36.35.
Good Heifers - 33.00 to 35.00.
Six heifers consigned by
Graeme Craig of Walton,
averaging 946 lbs. sold for 36.35.
Four heifers consigned by
alph, Reddor of Atwood,
averaging 925 lbs. sold for 35.50.
Three 11 eifers consigned by
om Culbert of R.R.1,
Dungannon, averaging 843 lbs.
old for 35.25.
Choice Feeder cattle from 850
bs. to 950 lbs. traded actively
rom 38.50 to 39.50.
Choice Cows - 23.00 to 25.00
ith sales to 26.00. :
Good Cows - 20.00 to 23.00.$
40 to 50 lb. pigs traded to a
igh of 34.10.
Please Note: This week due to
Good Friday, the sale will'be held
n Saturday, March 29th.
russels Stockyards will be
eceiving, cattle after 5 p.m. on
riday afternoon.
Belgrave
personals
Mr. and Mrs, Edgar Wightman
ceived word on Saturday
orning from Mr. and Mrs.Fred
cGarth 1'Anne Wightman, of
ermillon, Alberta to tell them
eir chosen children, two sisters
ngela and Corrine,
Mrs,Rayrriond Green and
hildren of R.R.5, Kincardine
:sited with Mrs. George Cook
nd Mr. and Mrs. William
cArter and family, •
Miss Ruth Ann Pletch of
trathroy spent a few days with
r parents, Mr. and Mrs. Sam etch.
Mr. and Mrs. John Bennett of
aforth visited on Sunday
ening with Mr. and Mrs.
array Vincent.
Mt, and Mrs.Eldon Cook
ended the annual Meeting of
e Canadian Brown Swift 8ociation in Brandon,
anitoba itist week. Eldon was
pointed as a director on the
ecutive Board from Ontario.
ohn and Ronald Hanna s of
cherier are holidaying with ir g tandparetitS, Mr. and Mrs.
tlatd Armstrong an Mr. and
s, Clarence Hanna.