The Lucknow Sentinel, 1984-05-23, Page 12CAPITAL FOND
Accounts receivable
.Due from revenue fund
Capital outlay to be recovered in future years
(statement 3)
- Due from revenue fund
RESERVE FUND
TRUST FUND
Cash
Investments - at cost which approximates
market value
On, behalf of the Board
Director
Director
(See accompanying notes)
*2.537.587 *.2.347.963
$ 225
7,275
2,004,530
$2.012.030
$ 225
7.275 .
2.•533, 762)
$2.541,262
$ • 12.315, $ 13.500
9,.261
169,968
$ 7,828
162.971
$_17® $ 170.799
Holdbacks payable.
unmatured debenture debt (note 4)
Equity in reserve funds. (note 6).
Trust funds (note 7):
Balance, beginning of year
Add -
'Investment income
Principal receipts
Deduct awards
Balance, end of year
CAPITAL FOND
RESERVE FUND
TRUST FUND
f
$ 7.500 S. 7,500
2,004,530 2,533,762
$2:012.030 $2'.541.262 •
$ 12.315
1.3.500
$ 170,799 $ 170,514
26,4211 23,477
7,000 1,000
204,220 194,991.
24,991 24,192
179,229 170,799
$ 179,229
170,799
THE HURON COUNTY BOARD OF EDUCATION
REVENUE FUND STATEMENT OF REVENUE AND .EXPENDITURES
YEAR ENDED DECEMBER 31, 1983
(with comparative adounts for 1982)
Expenditure:
Business administration
General administration
Computer services
Instruction •
Plant operation and maintenance
Transportation
Tu#tion fees
Capital:expenditure (non -allocable)
Other operating expenditure
Debt charges and capital. loan interest,(note 5)
Non-operating expenditures, excluding transfers. to reserves
Total expenditure
Recovery of• expenditures:
Other school boards
Government of Canada
Individuals
Other revenue, excluding transfers from reserves
Total recovery of expenditures
Net.expenditure,
Financed by:
Transfer from (to) reserve fund
Transfer to revenue fund reserve for working funds
Government of Ontario - 8eneral legislative grant
Local taxations- raised in current year
Previous year's over (under) requisition
Under (over) requoisition of taxes for year (note 8)
(See accompanying. notes)
1983
.Elementary
Schools.
161,737
165,662
7,441
13,741,519
• 1,375,961
'1,619,896
22,225
421,733
59,687
452',824
39,425
18,068, 110,;
1,980
25,821
27.801
18.040.309
1,185
12,003,653
6,123,620
90,418
18,218 876
$ (178.567)
Secondary.
Schools
171,055
175,206•
7,870
12,041,064
1,571,163
1,600,471
752,889
8;400
.83,350
221,028
72.585
16,705,081
1;125,737
36;9.16
65,.185
g10,881
.1238,719•
15,466,362
(100,000)
9,949,778
5,637,878
225,869
15.713.525
$ (247.163).
Total.
$ 332,792
340,868
15,311
25,782,583
2,947,124
3,220,367
775,114
430,133
143,037
673,852
11.2 , 010
' 34,773.191
.1,125,737
36,916
67,165
36.702
1.266.520
33, 506,•671
1,185
(100,000)
21,953,431
11,761,498
316,28/
33,932,401
$• (425,730)
STATEMENT 2
-1982
Elementary
Schools
$ .144,507
132,092
5,257
12,461,920
1,202,861
•1,592,266
•25,289
149,139.
• 69,812
487,416
33.868
16,304,427
1,002
1,626
16,952
19,580
16,284847
(1,5.00)
-11,038,397
5,352,147
(13,779)
16,375.265
$ (90_414)
Secondary
Schools '
$ 154,061
14.0,825
5,605.
11,018,021
1,429,032
1,449,102
793,143
418,698
96,051
220,982
64,970
15,790,490
990,095
33,848
81,622
3.,857
1,1-09 , 422
14.681.068
(100,000)
9,854,039
5,259,443
(106,545)
14.906,937
$ (225,869)
Total
$ 298,5.68
272,917
10,862
23,479,941
2,631,893
3,041,368
818,432
567,837
165,863
708,398
98.838
32,094,917
991,097
33,848•
83,248
20.. 809
11;129,002
30.965.915
•
' (1,,500)
(100,000)
20,892,436
10,611,590
.(120,324)
31.282,202
$, (316.287)
i.
•n
F ,444
4. Onmatured.debenture debt
Of the unmatured debenture
debt outstanding
of $2,004,530, principal
and interest' repayments tor the next five• years. ere as. follows:
Principal Inter,gst - Total
1984
1985.
1986
1987
1988
.Remaining balance
$ 522,236
513,120
476,174
313,000
62,000
1,886,530
118,000
$114,307
84,315
54,850
27,488
13,243
294,203
18;510
$ 636,543.
597,435
53.1,024.
340,488
75,243
2,1$0,7`33
136,510
$2600v.530 $312,713 $2 3317,243
5. Debt charges and capital loan interest
The revenue fund expenditure for debt charges and capital loan
interesteincludes principal and interest payments as follows: '
1983 ,1982
Elementary Secondary Elementary Secondary
•
Principal payments on longterm
debt including contributions
.to -sinking 'funds 3360,232 3169,000 $373,281 . $160,000
Interest payments thereon ' 92,591 52,02,7 114,135 .. 60,983
$452,823 8221,027 $487.416 $220,9$3
6. Reserve fund
The reserve . fund • ,relates to disposals " of certain. surplus '
properties. The Board was,not'obligated to reduce the current Province of Ontario
•
grants in this amount on condition that such funds'.be placed in a reserve fund and
used for future capital expenditures. Changes in the reserve fund balance are as
,follows:
Balance, January 1
Transfers from (to) the revenue
fund -
- 'Balance, December 31
1983 1982:
$13.,500 $12,000
(1,185) '1•,500
312,315 , 313.100
7 Trust funds .
Trust' funds'generaily represent` accumulated donations received by
the Board from individual,. corporate and institutional sources. , These funds are
used to provide variousscholarships, bursaries and awards to studentslIin Huron
County schools and to assist with other educational projects not fuhded•by the,
Board.
8. Over or under requisition
The Schgol's Administration Act provides that the difference between
the amount requisitioned from a municipality and• the amount that should have been
,requisitioned based on the
actual level of expenditure and grants is to be treated
as an over requisition or under requisition. The attached financial statements
reflect a net over requisition from municipalities in 1983 .of 3425,730 which will
be deducted from. the tax requisition by the School Board in 1984.
9. Comparative amounts
Certain of the 1982 comparative figures have been revised to reflect
adjustments made to the 1982 grant from the Government of •Ontario; such
adjustments were not material in amount.
F
►+