The Lucknow Sentinel, 1986-05-07, Page 10Page 1O-Lucknow Sentinel, Wednesday, May 7, 1984
FINANCIAL STATEMENTS as at December 31, 1985
AUDITORS' REPORT
To the Supporters of The Huron County Board of Education
We have examined the balance sheet of The Huron County Board of Education
as at December 31, 1985 and the revenue fund statement of revenue and ex-
penditures, the capital fund statement of operations, the continuity of trust funds
and the continuity of reserve funds 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 cir-
cumstances.
Cash and term deposits
Accounts receivable:
Government of Ontario
'Loci taiation - supplementary taxes'
Other school boards
Sundry
Prepaid expenses
ASSETS
"REVENUE FUND
CAPITAL FUND
Accounts receivable
Due from revenue fund '
Capital outlay •to be recovered in future yews
(statement 3)
Due from revenue fund
RESERVE F11NQ`''
TRUST FUNDS
Cash
Investments - at cost which approximates
r 'market value. ' •
On behalf of the Board
Director
\.. Director _
In our opinion, these financial statements present fairly the financial position of
the Board as at December 31, 1985 and the results of its operations for the year
then ended in accordance with the accounting principles described in note 1 to
the financial statements applied on a basis consistent with that of the preceding
year.
London, Canada
March 14, 1986
THE HURON COUNTY BOARD OF' EDUCATION BALANCE SHEET
December 31, 1985
(with comparative amounts at December. 31, 1984)
Expenditures:
Business administration
General adriiilistration
Computer- services
Instruction
• Plant Operationand maintenance•
Transportation
Tuition fees
;Capital ' enpenditurd(non-allocable)
Other operating expenditure
Debt Charges and capital loan interest
Non operating' expenditures, excluding transfers to reserves
Total expenditures '
Recovery of expenditures:
Other school begirds
Government of Canada
individuals
Other revenue. excluding transfers Froin reserves
Total recovery of expenditures
Net expenditure
Financed by:
Transfer from (to) reserve funds (statement 4)
Transfer to revenue fund reserve for"working•fulds
Government of Ontario - general legislative grant ,
Local taxation raised in.c'urrent year' '-F•
Previous year's over (under) requisition
Under (over) requisitions ot•taxes for year
1985
$ 806,312
1,667,432
33,255
472,790
53,581
3,033,370
114,777
$3,149,147
$ 225.
7,275
495,826
$ 503,326
$ r 159•.022
1984.
81,070,922
1,615, 726
'8,032
108,553 -
18,345
2,819,578
75,585
$2,895,163
$ 225
7,275
1,482,294
81,489,794
"49:205
17,902 • •$ 9,948
183,907
177,968
• •
5. 201,809 • $ 147,916
r
Clarkson Gordon
Chartered Accountants.
License No. 1217.
LIABILITIES AND EQUITY
REVENUE FUND
Accounts payable. - Local taxation -
over•.requisition (statement 2)
Trade, accounts" payable and accrued charges
Other school boards
Due to capital fund
-Due to reserve fund
Reserve for working funds
Holdbacks payable
Unmatured debenture debt
Equity in, reserve fund (statement 4)
•
•
Awr ds:parable
Equity iri trust funds (statement 5)
-*HE HURON .COUNTi% BOARD':OF EDUCATION wr .`
REVENUE FUND STATEMENT OF REVENUE AND EXPENDITURES •
YEAR ENDED bECEMBER 31, 1945 (with, cartpar tiva amounts for1984 ` •
1955 1984 • STATEMENT 2.. .
El tttint.ty ;( -0. , • t f g f
t .•.�. ; t'I - �!�Y d��i�'b1J .% P .�Sq'. `. ,y S�tX•.�.1 \.Y it l
fToil 8choois : • :Schools Toto ; F
THE -HURON COUNTY BOARD OF EDUCATION.
CAPITAL FUND STATEMENT OF OPERATIONS
YEAR ENDED DECEMBER 31;1985'(6 1h contipi'triithre amounts' tor' 1984
{
•
...Elementary
Schools
$ 214,887
225,616
7.960'
15,978,184
1,555, _482
1..983;860
. 17,741
81,371
21..825
-375,897
44,788
20,465,390
CAPITAL. FUND '
RESERVE FUND
TRUST FUNDS
STATEMENT 1
1985 1984
$ 404,447
.1.637,589
1.14,814
• 2, .056.8.50
7,275
159,022.
166,297
925,000
53,148147
$i .. 7,500
495,826
$ .,503,a26
$ '159,022
$ 5,540
. 196,269
$ 201,809
$ 309,697
1,.597,375 ,
106,611
2,0i°3.683
7,275
49,205
58,480
• 825;000'
: $2;895,163
•
$. 7.500
1;482.294
$1;489,794
S 49.205
$ • ;1$7.918
$ . ,1.87,.918
125,290
1,445
1,49,6808;: :
20.315,622 •
(48,754) •'
(50,000)
13,457,401
6,8'45,496
286.179
20,490,322
$ (114,600)
.STATEMENT 3
Sources of recovery of capital expenditures:
Capital expenditures out of revenue fund
Debenture principal payments included in
revenue.,furtd expenditures
Ontario EducatiOti Capital Aid Corporation
debenture writedown
Capital expenditures;
Land and buildings
Furnitureeri<d equipment
Net recovery 61 prior "yeas" „canis! oitrer dilutes .
UnreCovered'eapital expenditttres, rSepinhiitN
of year « " "
`Uflrec®vered capital expenditures, end of year
leas
1,$*4.•
$ 488,$20.... $•'s, 970,196 •
•
510,120. •" 522,236
•
4706;,
1,471,888 '1,403,032
80,641..: , 592,435
404,779376,361 '
JJ,, 6+'42'0/y .�• " 9143,796'',:
')8115.
522,236
94 2 0i�4,53O
484494
!188,480,
THE COUNTY BOARD OF'.EDUcA ION ` STATEMENT 5
CONTINUITY .dF".TR ST FUNDS"
YEAR. ENDED"DECEMBER 31, 1555, (*Rh co1'npsrstivr_ Mmmaunts for 1984)
balarnce, beginn'ing,01 Oar
Add;
Trust turtds :received lit year.
rivestrneii'l' inedi to
Deduct awards ,
Balance:, end- /'year
1085 ;`• 1.9
$.167;916 3179,2',
• 10,554 15,455'
23,907:. 22,869.
226,377` 217,272
32:1'08.:
'29466',
•$13,(3,269" ; 127,916
Secondary
Schools
214;888
: 225,.615
7,969
12,465,478
1.638,228
1,604,190
909,014 •
, 89,477
21,625
221,537
6!3,291 .
17;442.280
1.057.237
28,.411
53,810
12,751.
1,1 556,209
•46;202,07,1
(61;063)`.''
(50,000)'
40,369:821_
6;239,742
•23;.518
'$ 429,735'
• :4451 .231
15,918 '
28,4.41,862
3;t91�718
3,568,050 .
928,755
. 130,848 w:
43.250 w'
597.434
$, 190,222
. 204,106
°11;039'
1,4,410,955
1,424.927
1,721,938
22;185
309,680
1 1,741"
414,986
87.116.
37,907.670 ' -
1,182,527
28,411
55,255
35.584
1,299,.777
'36,607,$93,,
(109,817),
(160,000)`
23;827,.2.22;
4,.13085,�t3,�:
309,6 7.
f:t3�522,3i'8 37 012,3+ib `
$ ..(229,941) (404,447)'
18.808,895
982
1,4:93` ,
22,402
24,8'77
18,784,0.18
12.432.255-
8,459.r590
2..432.255•8,459,,590
178,352
8 197:195 ;.•
2'14,.588 ,"'
• 11.444
12,58543,
1,712,857 '
1,704,393
905..553
336,697
12;0'67
221.558•
.1Yl,970
18,021,645
1,123,80.4
40.392"
74212''
44,927
1,283,335
16, 136,310
(36,$90)
(106,000)
10;769,192
5.882,657
246,$6;9
1.9,09,197 , 16,781,828
$ (286,119) $ (23418);,;-.
-387,.417..
., 415;89449
. 22,483'
'26,996,478'
3,137,564,
3;430,331.
927,738
646,377
23:808'
636;544
2,86,086
36,830.540
1,124.;786
• 40,392
75,705
67,320
1„318,212
35,522.328
(36,890)
(100,000)
23,201 ,441
12,342,241
425,221
35,832;025
(309,097)
THF; Ht1fi<ON000NTY BOARD OF.fDUCATION STATEMENT 4
."• CONTINUITY'OF RESE,AVE FUND
YEAR ENDED DECEMBER 31,.1985 (Milt conlparatly. iriln0101ta, for 1984)
•
•
•• • • - bal'ancel► Tfltniafsrs
bsgInninp lrairr it*d)'•.
1. 'of Year rsysnris land
Elementary reserves:
Future capital exa? enditures ? -
•
Miequity
Potato capital a enditures.-.
(*dart /Oh
Retired ant• gratuities .'
Se•
condary resOrves >v..
Cental irrmprovementc
Retirement gratuities:
Total
x
15.293
$,.48,154; 48,754
48,154 '0,069
.38,890..• ••
6,1,063,,
L V
36,890
61,083
3.6,890 , , 61',063 1 97,963`;
;9,022
#,215 -'3109;817''
1
Copies of the audited financial report from which the$9 l,tatements have been extra0t8d rl1* be 1x4
arriined• at_ the (*CO Of the Seeretary-treasurer; irli�irotti Ceur+ty turd of Educefien, 103 Albert',
Street,. C(intori, Ontario.
A. W. Cltirtu '
Ctislionaan o!'ilrsioavd
R. 6. Alias
p►Ihcetortdl Education ..
and Sittet ily'Trasr,urar::
r,.