Times-Advocate, 1979-07-04, Page 22 (2)t
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Page 6A Times -Advocate, -July 4, 1979
Many visitors in Brinsley area
By GORDON MORLEY
ORINSLEY
Mr. and Mrs. Earl Lewis
and Mr.. and Mrs. Harvey
Morley were recent visitors
with Mr. and Mrs.- Stuart
Gilbert. London.
Mr. and Mrs. Wes Hodgson
New ministeris
and family spent the week
end holiday at Trillium
Woods trailer park.
Mr. and Mrs. George Prest
and fafriily. ___Mr. Ceril—
Ellwood and Mr. aJd Mrs.
Lloyd Odd. London spent
Sunday afternoon .with Mr.
' and Mrs. Bill Fenton and
family of Belgrave.
Rae Lewis, Exeter spent a
couple of .days with Mr. and
Mrs. Wilbert Lewis.
Angela Hodgson is
holidaying with Mr. and Mrs.
Harvery Morley.
Mr. and Mrs. Jack
Trevithick and Ruth Mr. and
Mrs. Nejl Trevithick, Colleen.
and Carol Newey and Mr.
and Mrs. Jack Dorman
attended the 50th wedding
anniversary of Mr. and Mrs.
Melvin Trevithick at
Chatham.
Mr. and Mrs. Paul
Hodgson and family en-
tertained his grandmother
Mrs. Mary Hodgson of Lucan
recently on her 91st bir-
thday. Thirty-six guest at-
tended.
Mr. and Mrs. Harold
inducted at Crediton
By MRS. PETER MARTIN Brian Elder was held Sunday
. CREDITON in Zion United Church. ,
Induction service for Rev. Participating in the ser-
vice were Rev. Camille La4,144 . Rouche chairlady, Rev.
.Maurice Francis,
1 Thamesview Chairman of
Huron Perth Presbytery,
Acting Secretary, Rey Stan
Mc Dona Id. HensaII, and Rev.
James Forsythe Exeter,
gave the Thessage.
Miss Doris Swartz sang a
solo. A social hour followed
in the Sunday School
Auditorium. _
We welcome •Rev. Elder,
this wife 11ary and their son
Robert to our community
liin
and hope - they will enjoy
�v
REV. BRIANELDERg here.
Hamilton, Mississauga and -
Mrs. Terry McGovern ,
Toronto visited a few- days
with ,Mr. and Mrs. Earl
Lewis
Mr. and Mrs. Robert
McNaughton, Sutton West,
Mr. and Mrs. Arthur Mercer
and family, London and Mr.
and Mrs. Neil Trevithick
visited with Mr. and Mrs.
Doug Lee and family Sun-
day.
-A $7.5 million bdoster
station for the Lake Huron
water supply system was
officially put into operation
June 18 by Ontario
Environment minister.
Harry Parrott. It is located
about 314 mile west of
Brinsley.
Mr. and Mrs. Cyril Morley
attended the 40th wedding
anniversary of Mr. and Mrs.
Ken Hodgins Saturday at the
Centralia Community
Centre.
Politican addressing
crowd: "and td those who
say the cost of living is
spiraling, I say isn't that bet-
tefthan going straight up."
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•
STEPHEN GRADE EIGHT CLASS — annual grade eight graduation exer-
cises were held at Stephen Central School, Monday night. Back, left, Frank
Kohl, Irene Gobson, Roxanne Woods, Dean Watt, Fred Miller, Lorraine
Labelle, Peter Dearing and Tim Cont. Third Row, teacher Fred Nigrijn, David
Gill, Arlene Wolper, Rick-Tiedeman, Robin Kraft, Victor Rempel, Greg Ratz,
Russell Hayter, Todd Case, Susan McClure, Ste' en Wolper, Ron Nienhvis.and
Fred Miller. Second row, principal Don Finkbeiner, Robert Mitchell, David
Hewitt, Connie Schroeder, Faye Gaiser, Lisa Becker,- Gary Smith, Randy
Bowers, Ion Morden,- Mark Ormandy, Paul Kinsmen, Tom Maier, Terry
Hodgins, and teacher Howard Lawrence. Front, Beverly Volk, Robin Geilnik,
Karen Hodge,. Kim Galloway, Geraldine Tyler, Cheryl. Payne, Martine
MacDonald, Kim Kipfer, Lori Anne Boogemons, Vicki Collett- Kim Horner and
Karen Hoist. .
T -A photo
3
TOWNSHIP of STEPHEN AUDITOR'S REPORT
TO: The members of council. inhabitants and ratepayers of the Township of
Stephen. •
We have examined the financial statements of the Township of Stephen and its
local boards- and'consoljdated municipal enterprises for the year ended December
31, 1978. Our a amination was made in accordance with generally accepted auditing
standards and accordingly included such tests and other procedures as we con-
sidered necessary in the circumstances.
In our opinion. these financial statements present fairly the financial position of
the Township of Stephen and its local boards and consolidated municipal enterprises
as at December 31. 1978 and the results of its 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.
Listowel. Ontario. '
April 5. 1979, -
LICENSE NO. 836
MacGillivray & Co.
CHARTERED ACCOUNTANTS
Statement of Revenue and Expenditure
for the year ended December 31. 1978
1978
Budget
.3
1978
Actual
3
Accumulated net revenue I deficit 1 at
the beginning of the year (44,708) (13,202)
EXPENDITURES AND TRANSFERS
Municipal expenditures
General government 91,000
Protection to persons and property 94.067
Transportation services . 302.200
Environmental services .. 23,00
Recreation and cultural services . 15,500
Planning and development 2'17,252
Total expenditure 753,019
Transfers -
Transfers to region or county 207,082
Transfers to school boards 513,838
Total transfers 720,920
Total expenditures and transfers ... 1.473,939
REVENUE BY PURPOSE
Mdnicipal purposes
. Taxation
.Payments in lieu of taxes
Ontario grants
Other grants
Fees and service charges........
_ Other
Revenue to pay for municipal purposes
Region or county requisition
Taxation , 164.620
Payments in lieu of taxes 7.650
•Ontario grants 34.812
• Revenue to pay the region or county
requisition
School board requisition
Taxation .
Other
Revenue to pay the-se:!:.1.—". :xll�rl #
229.591
50.610
270.666
770
232.252
13,838
797,727
Total revenue...
accumulated net revenue (deficit I at
the end of the year .
Analysed as follows
General revenue
Region or county
School boards ._
Special areas
Local boards .
_ Municipal enterprises
•
207,082
513,838
513,838
1,518,847
Statement of Capital Operations
for the year ended December 31. 1978
-UMiAanced capital outlay (Unexpended
capital finant•ing i at the beginning
of the year
CAPITAL EXPENDITURE
General government.... .... .. .
1978
Actual
333.624
3.904
Protection to persons and property 45.457
Transportation services 242,480
Environmental services ... 10,362
Recreation and cultural services 12,947
Planning and development 498,800
Total expenditure 813,950
CAPITAL FINANCING
Contributions from the revenue fund 147 t• ;
Contributions from reserve funds -
and reserves 7.900
Long term liabilities incurred 497,800
Ontario grants 102,552
-.Other 167,976
r Total capital financing
1 1nfinanced capital outlay (Unexpended
capital financing) at the end
of the year
924,014
223.560
100.799
100.821
350.806 -
76.098
37.025
248.610
914•-159
216.778
522,443
739,221
1.653,380
270.834
53.512
235.555
8.839
272.110
43.2
884,138
171.927
7.304
34.499
213.730.
Balance Sheet
as at December 31. 1978
ASSETS
CURRENT ASSETS
Cash 67,673
Taxes receivable . ... 116,861
• Accounts receivable .. 120,000
Other current assets ., 18,128
322,662
1978
$
Capital outlay to be recovered in
future years
Other long term assets
1,893,201
61,940
1,955,141
2,277,803
1977
3
9,140
96,545
82,826
.17 450
205,961
1,682,313
38,704
1.721,017
1,926,978
LIABILITIES
CL'RRENT LIABILITIES „
00
Temporary loans 413.761 406.969
Accounts payable and accrued liabilities 30,999 20,285
Other current liabilities 2,206 4 098
446,966 431,352 1
Net long term liabilities 1.669.645 1,348;689
Reserves and reserve funds 207.824 160,139
Aceumulated net revenue (deficit) and
unapplied capital receipts
146,6321 (13,202)
1,830,837 1,495,626
2.277,803 1,926,978
Notes To The Financial Statements
for the year ended December 31. 1978
1 Accounting Policies
a) Statement of Revenue and Expenditure
This statement reflects the revenues and expenditures of the revenue fund and.
the following local boards and municipal enterprises:
Township of Stephen - Waterworks
Centralia Centennial Community Centre
Dashwood Community Centre Board
Crediton Community Park Board
Stephen Township Community Centre Board
Huron Park Community Cent, a Board
b) Statement of Capital Operations
This statement reflects the capital expenditure of the municipality to be
recovered from the general municipal revenue of the municipality and its local
boards and municipal enterprises as described in note 1 (a).
c) Balance Sheet
This statement reflects the assets and liabilities of the revenue fund, the
capital fund, reserve funds and local boards and municipal enterprises as
described in note 1 (a ►.
d) Fixed Ass s
The historial cost and accumulated depreciation of fixed assets is not reported
for municipal purposes. Instead. the "Capital outlay to be recovered in future
Years" which is the aggregate of the principal portion of unmatured long term
liabilities. capital funds transferred to other organizations, and the cost of
capitalSheet. projects not yet permanently financed is reported on the Balance
e) Municipal Enterprises
Municipal enterprises are those activities vyhose costs are substantially
recovered from service charges on the users. The enterprises of this
municipality whose revenues and expenditures have not been consolidated in
these financial statements are: •
ille•ood Public L,'tilities.Comm� .
`..
rges for Net Long Term Liabilities
Debt retirement costs including principal and interest are charged against
current revenues in the periods in which they ire paid. Interest charges are not
accrued for the periods from the dates of the latest interest payments to •the
end of the financial year
2. Capitol Outlay To Be Recovered In Future Years
ai Some capital outlay to be recovered in future year does not represent a
burden on general municipal revenues, as it is to be recovered in future years
• from other sources
521.921
•t¢r,,:..r:x--
-irk.
Atit
522,082
1.619.950
• (46:6321
('3.6171
937
68
29.44d
7.362
(10,826)
(46,632 )
1977
,Actual
$ -
185.931
891
8,326
299.084
4.122
333,200
645.623
- Special charges on benefitting
Landowners.
Municipal enterprises._.....-_ ..
1978
$411.653
-57.991..
81.699 644
1977
81,622.916
59.397
81.682 313
b (Capital outlays. including fixed assets and the transfers.of capital funds in the
amount of $147.986. which have been financed from general municipal revenues
of the.currennt year. are reported on the Statement of Revenue and Expenditure.
3. Reserve Funds •- , -
During the year. 858.961, were cre>Iiled direptly to respc0491 11W :
recorded as revenues and expenditurA§ of the Revenue Fund. Major sources
were
Interest earned
0 H .R P grants
$ 2,961
56,000
$58,961
4. Net Long Term liabilities
The balance for net long term liabilities reported on the Balance Sheet is made up
of the following:
81 756 Total long term liabilities incurred by the municipality including those incurred
on behalf of former school boards. other municipalities and municipal enterprises
2,500 and outstanding at the end of the year amount to 81,898,294
254.300 Of the long term liabilities shown above. the responsibilityfor payment of prin-
76,545 cipal and interest charges has been assumed by others fr a principal amount
82,829 of (221,432)
The total value of sinking funds and the balance in the Ministry of the Environ-
ment Debt Retirement Fund which have been accumulated to the end of the year
to retire the outstanding long term liabilities included above, amount to (7,218)
Net Long Term Liabilities At The End Of The Year 81,669,644
497.930
333 624
5. Accumulated Net Revenue (Deficit) at the End of the Year
The balance in the revenue fund at the year end is available to reduce (to be added
to) the levies of the following classes of ratepayers.
General ratepayers
Designated ratepayers
School board ratepayers-
'. Region (County) ratepayers
1978 1977
$(77.081) 8(39.815)
29,444 22,199
937 429
68 3,985
$(46,632) 3(13,202)
6. Charges for Net Long Term Liabilities
Total charges for the year for long term liabilities were as follows:
Principal payments including -contributions
to sinking funds and to the Ministry of
Environment 8176,128 8149.238
Interest 75,543 58,741
1978 - 1977
• '$251,671 3207,979
Of the total charges shown above $245,163 were paid from general municipal
revenues of the municipality and are included in expenditure on the Statement of
Revenue and Expenditure classified under the appropriate functional headings. The
remaining $6,508 were recovered from municipal enterprises for which the related
net long term liabilities were incup•ed.
7. Investments
Other eurrent assets include investment. of 811,500 recorded at cost having a
market value of $11,500 as at the end of the year. ,
8. Liability for Vested Sick Leave Credits
Under the sick leave benefit plan, unused sick leave can accumulate and
employees may become entitled to a cash payment when they leave the
municipality's employment. .
The Liability for these accumulated days, to the extent that they have vested and
could be taken in cash by an employee on terminating, amount to $8,781 at the end
of the year. No provision has been made for this liability.
Township Of Stephen
Waterworks
Statement Of Revenue And Expenditure
for the year ended December 31. 1978
(with comparative figures for 1977)
1978
1977
Accumulated net revenue - beginning of year 3,492 2,690
EXPENDITURE
Operations
Water supply
Water transmission and distribution
Administration r.,
28,517
14,110
1.477
14,441
612
4,280
Total operating expenditure 42,104 19,333
OTHER
-., 3Ctinc ayments and interest charges
Trans ers to ? Sri4 reserve funds •r
REVENUE
Sale of Water
Municipal contribution
Other revenue
Total revenue r
Accumulated net revenue (deficit)
end of year
6,508' 6:508
,�.t::�,'. 864
a 26,705
•
•
22,430
3,348
9,292
15.970
3.082
8,455
35068 27,507
(10,826) 3,492
Township Of Stephen
Municipal Electrical Utility
Statement Of Revenue And Expenditure -
for the year ended December 31, 1978
(with comparative figures for 1977)
1978 1977
•tit'eettmul8ted net revenue - beginning of year $61,235 — • $59,062
REVENUE
Sale of Energy
Residential 47,604
General 34,553
Street lighting 1.327
OTHER
Late payment charges
Water heater rental
Bank interest - savings account
EXPENDITURE
Energy cost
Operation maintenance
Administration
Billing and collecting
Depreciation
Water heater maintenance
Excess revenue refundable
Accum• ulated net revenue - end of year -
50.089
35,183
1,413
86,685
644
151
303
1,098
87,783
70,828
1,309
2,386
3,724
2,399
92 •
1,631
82.387
166,651
83,484
500
171
289 •
980
84,444
72,438
1,934
2,271
- 3,368
2.260
82,271
161,235