The Lucknow Sentinel, 1975-07-16, Page 17($271,024) ($242,189)
Revenue
Taxation $113,326 Contributions from other governments 128,972
Other 16,010
$128,121
112,354
12,881
FOR THE YEAR ENDED DECEMBER 31, 1974
Auditor's Report
To: The Members of Council and Ratepayers of the Corporation of the
Township of ICinloss
I haVe examined the .1974 financial statements of the Corporation
of theTownship. of Kinloss which are listed on the attached Index. My
examination included a general review of the accounting procedures
and such tests of accounting records and other supporting evidence
considered necessary in the circumstances. •
In my opinion these fmancial statements present fairly the fin-
acid position of the Corporation of the Township of Kinloss as at
December. 31st, 1974 and the results of its operations for the year then
ended, in aceordance with accounting principles generally accepted for•
Ontario municipalities applied on a basis consistent with that of .the
preceding year. . 4
(Signed) A. M. Harper
City: Goderich, Ontario
Date: April 2, 1975
Licence Number -- 195
Stcaernent of Revenue and Expenditure
• fOr the year ended December 31, 1974
Accumulated net revenue (deficit) at the
1974 1973
beginning of the year $ 5,374
(5,793)
General government $ 15,344
Expenditure
12,387
Protection to persons and property 4,786 4,905
Transportation services ,. 148,152 126.345.
Environmental services 2,040 5,882
Conservation of health 15 725
Recreation and community services' ' 6,507 7,308
Community planning and development 4,734 725
Fipancial expenses 4,459 6,454
Region or county - share of expenditure 29,146 . 24,260
Education ' 55,841 53,198
Accummulated net revenue (deficit) at
the end of the year ( 7,342) Analysed as follows:
General revenue ( 7,342)
Statement of Capital Fund Operations
for the year ended December 31, 1974
Unfinanced capital outlay (Unexpended capital
financing) at the beginning of the year
Capital outlay ,
Capital expenditure
Protection to persons and property. 106
Transportation services 18,314
Environmental services
Conservation of health
Recreation and community services
Transfers to others
$ 18,420
Capital financing
Long term liabilities incurred
Contribution from the revenue fund 18,420
(s 18,420)
Unfinanced capital outlay (Unexpended
capital financing) at the end of the year Nil
Consolidated Baldnce Sheet
as at December 31, 1974
Current 'assets
Cash $ 450
Accounts receivable 100,627
Taxes receivable ,
Other ,current assets
$125,515 $ 68,435
Capital outlay to be recovered in
future years 36;919 47,118
$162,434 , $115,553
Liabilities
Current liabilities
Temporary loans
Accounts payable and accrued liabilities
Other current liabilities '
Net long term liabilities
Reserves and reserve funds
Accumulated net revenue (deficit) and unapplied
capital' receipts • (7,342) 5,374
$162,434
;115,553
Notes to FinanciaI Statement
1. Charges for net long term liabilities'
Total charges for the year for net long term liabilities
were as follows:
Principal payments, $ 10,199
Interest 1,991
outstanding at the end of the year 'amount to 81,419
Of the long term liabilities shown above, the responsibility for
payment of principal and interest charges has been assumed by the
Bruce County Board of Education for a principal amount of $ 44,500
Net long term liabilties at the end of the year $ 36,919
WEDNESDAY, JULY 16, 1975 THE LUCKNOW SENTINEL, LUCKNOW. ONTARIO
•
Township Of Kinloss
Auditor's Report and Financial Statements
PAGE SEVENTEEN
LOCHALSH
Living in the neighbourhood
while building his new hotise at the
corner of Highway 86 and the
Ripley road is Joe Legrande in the
Dexter house.
Mr. and Mrs. Clarence McGilliv-
ray of New York city, Mr's. Allan
• Ashley of Wiarton,' Mr. and Mrs.
Allan AcCharles and family of
Beaconsfield, Quebec, visited with
Mr. and Mrs. Oliver McCharles
during the past -week.
Congratulations to those who
have passed into different grades
in school / and to local award
winners and having their pictures
in the news.
Mrs. Henry MacKenzie returned
home Friday from' a three week trip
to the West Coast..
Congratulations to Mr. and Mrs.
Jim MacKenzie on the birth of a
baby girl in Wingham Hospital.
Mrs. Mackenzie and Mary Ellen
/returned home. on Sunday,.
Duringthe past week, a group of
area folk moved the storage shed
that stood for many years near the
road at Lochalsh Cemetery. It was
moved to the south east corner in
the new section of the cemetery.
Ripley's Alive
In 75
By Elaine Pollock
One of the many highlights of the
Reunion is going to be the Monday
night coneert, and dance. The
fabulous Chapparrals from Kitch-
ener Will entertain in concert in the
Complex at 9 p.m. This talented
country • and western group is.
currently appearing at the Calgary
Stampede, and promise smile great
entertainment. Be sure to plan to
stay for 'this.,
Speaking of staying, Mrs. Ken
MacDonald would like to know if
anyone has spare guest room.
accommodation during the reuri-
ion. As well, if you need a morn,
write Marge. •
• All you fiddlers out there, don't
,
forget to bring your fiddles to the
Old Time Jamboree on Friday
night. This is being held at the new
Township Shed in the north east
corner of town. Needless to say,
there, will be souvenir hats and ,
mugs, as well as food -available,
These will also be available at the
Complex, and registration desk in
the Township Hall.
• Programs and tickets for the 8
day' trip to Acupulco are available •in stores in Ripley.
There will be pageant choir
practise Friday night at 8.30.
See you at the Reunion on
August 1, 2; 3, and 4.
Dungannon W.I.
Annual Picnic
On Wednesday, July 2, the
annual picnic of the Dungannon
Women's Institute was held in
Goderich at the home of Mrs.
Gordon Finnigan. Due to the
intense heat the contests and
program were conducted "in the
spacious car port.
Mrs. Graham McNee, president,
welcomed all and began the
meeting with the Opening Ode and
Mary Stewart Collect after which
she expressed her pleasure in
having presented the proficiency
award at Brookside, grade 8
graudation, to Betty Errington,
daughter of one of our W.I.
members. The roll call was
answered by 13 members, and five
visitors were present. Mrs. Harry
Girvin read the treasurer's report,
and correspondence.
The committee, the Branch
Directors conducted several inter-
esting Jontests and gave prizes to
the following: minute guess, Mrs.
Howard Johnston, Mrs. Wilbur
Brown; elimination contest, Mrs.
Alvin Kerr and Mrs.. Elmer Black;
from the pantry shelf, Mrs. Elmer
Black and Mrs. A. Kerr; mystery
°contest, Mrs. W. Brown, Mrs.
Robt. Irvin; egg contest, Mrs.
Mary Bere, Brenda Kerr. Mrs. M.
Here gave a humorous reading,
"I'm Fine, Thank You"; Miss Beth
$258,308 $243,366
5,374
5,374
( 7,342) 5,374
1974
Nil
1973
Nil
818
8,106
4,000
685
1,608
2,900
18,112
2,900
15,212
(18,112)
Nil
1974 1973
$ 2,829
46,769
23,027 18,356
1,411 481
$ 81,280 • $ 20,000
21,577 11,319
1,742
$102,857 $ 33,061
36,919 47,118
30,000 30,000
/
McConnell recited a lengthy poem,
"Sunflower Time", impromptu
too!; and Mrs,:, G. McNee read,
"Lest We Forget". Collection was
received and a bountiful picnic
lunch was arranged by the commit-
tee and hostess, M'rs. G. Finnigan.
During lunch time four more
other sources:
Special charges on benefiting landowners $ 36,919
prizes were given, lucky plate,
Brenda Kerr; most buttons, Miss
Beth McConnell; birthday nearest
July 2, Mrs. Warren Zinn; anni-
versary nearest July 2, Mrs. R.
Irvin. The August meeting is 'on
Canadian. Industries and is to 'be at
' the hoMe of Mrs. Alvin Kerr.
$ 36,919
REPORT FROM
QUEEN'S PARK
BY MURRAY GAUNT
M.P.P. HURON-BRUCE
This week the Treasurer, Hon-
ourable Darcy McKeough, submit-
ted his mini-budget to the Legislat-
ure as the Provincial Government
tried some more "fine tithing of the
economy":
It contained a package of
initiatives valued at, $178 million
intended to get more houses built,
more jobs created, the elimination
of the 5% Ontario sales tax on most
North American built cars and
station wagons and the lowering of
wine prices by 5 or 6 cents a bottle
by passing on federal excise tax
reductions.
The rebate on new cars which
should average $175' per buyer. will
last only until the end of December.
The Treasurer estimated the '
deficit will jump another $100
'million to a record of $1.76 billion.
The mini-budget also included
provisOn for:
-- $30 million more this year to
encourage incresed housing most
of which is to finance fully the.
building of the 'first of 4,000 senior
citizen units.
-- $12 million more for sewer and
water projects. •
-- $17 million for improved pension
benefits for retired civil servants
and teachers. '
In other news related to the
mostly in the United States.
George Kerr this week assumed
his former responsibilities as
Solicitor General of Ontario. He-
re-signed from the cabinet - post
When he was implicated in the
Hamilton Harbour Dredging Trial
following an allegation that a,
$10,000 contribution' was made to
his election campaign in return for
his support of the people, carrying
out the operation. Mr. Justice
Thomas Callon has stated that
there was , no evidence that Mr.
Kerr was involved in any improp-
riety with respect to the matter.
$ 12,190
Of the total, charges shown above, $12,190 was paid from the
revenue of the municipality and is included in expenditure, classified budget the Treasurer says he
under, the appropriate functional headings. expects Hydro, like other 'govern-
ment agencies, "will prune its
2. Basis of consolidation
The Consolidated Balance Sheet reflects the assets and liabilities operating and capital budgets." On
of the revenue fund 'and the capital fund of the municipality. the capital side the Treasurer said a
minimum of $1 billion must be
3. Net long term liabilities shaved from Hydro's long run
Total long terra liabilities incurred by the municipality and investment program.
Hydro responded by saying it
will undertake to look at a
suggested austerity program.
Hydro faces a $125 million deficit
this year which rose from the $62
million predicted because of a drop
4. Capital outlay to be recovered in future years in sales outside the province,
Some capital outlay does not represent a burden on general
municipal revenues, as it is to be recovered in future years from