The Goderich Signal Star, 1976-06-03, Page 35AUTHORIZED"
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PU.ANcES
RADE INS ACCEPTED
• 308 MORON • RD. ..- 524-7831
On Friday, May 2$ the
,.County Court- judges of
District Number one .held
thee' gannual meeting at
Huron County. Judge Frank
Carter's Chambers, .Court
House, Goderich,where they
were :greeted by Huron
County Warden; Jack,
Megutcheon
Thos,e.,acending were:.
Chief Jutlge W.E,.C'. Colter,
Toronto; newly -appointed
-Perth, County Judge, T.
Arthur Mullen of Ottawa -
who will be sworn in as Perth
County •Judge iIi Stratford on
June 24; ' Judges Carl Za.lev
and B.J.S. MacD.onal:d of
Essex;'` W. B. Beardall of
Dent; , M. R, '"Meehan• of
Lambton; J. A. Winter, 'of
Elgin; P. S. MacKenzie of
Bruce,: K H. Dickel Oxford;
and Judges G. P. Killeen; T.
J. Jacob, R. MacNab MacNab and
T. G. Street of Middlesex; R.
Carscalien and H. • p. Lang,
both retired,.'., . ' '
Following"the meeting; the
visiting judges joined their
wives at Judge .Carter
"s
ie: Heron -Perth County Roman Catholic
Separate School Board
Auditor's Report
To'the'Huron-Perth County
Roman Catholic Separate School Board
We have examined the Balance Sheet of the Huron -Perth
Roman Catholic Separate; School Board al at December 31,
1975, the Revenue Fund Statement of Operation's and the Capi-
tal Fund Statement of Operations for the year then ended. Our
examination included a general review of the accountingproce=
dures and such tests of accounting records and other support
•ing evidence as we considered necessary in the circumstances.
1. Accounting Policies
(a). Accrual Accounting .
The accrual method for reporting revenue and expendi-
ture, has been used with the .exception of reporting of
cherges for net long-term liabilities. Principal and in-
terest charges
n-terest'char,ges arenot accrued fromthe due date of
payment to the end of the fiscal year. •
(b) Fixed Assets
Fixed assets are charged to current expenditure unless
financed bylong-term debt. Principal and interest
charges on net long-term liabilities are included in ex-
penditure in the period due:
• Fixed assets are included in the Balance Sheet only to
the -extent of the balanes`of the .related net long-term
liabilities outstanding and of the related tetaporary fi-
nancing at the end of the fiscal year.
(Statement ME 325.1)
•
In our opinion these Financial Statements present fairly the
financial position of the board as•at December 31, 1975 and the
results of its operations for the year then ended, in accordance
with accounting principles generally. •accepted for Ontario
schoolboards applied on a basis consistent with that of the pre-
' ceding year except for the change in accounting for fixed assets
as described in note No. 1.
Stratford, Ontario
April 20, 1976
NOTES TO FINANCIAL STATEMENTS
For 1974 and prior years, fixed assets were reported at.
cosi.
ASSETS
Current Assets
Cash
Investmentsat cost
1 Accounts receivable
Under -requisitions - (elementary)
'Under -requisitions - (secondary)
Other'
Prepaid expense
Other current assets
Capital' outlay to be
recovered in future years
Other assets
1975.
ao
645
Monteith, Monteith &Company
License No. 28.4
(c) Net Long -Term Liabilities
Debentures are recorded as. unmatured debenture debt
in the year of sale.
2. Debt Charges and Capital Loan Interest -
•
The expenditure for debt charges and capital loan interest
reported in the Reventie Furid Statement of Operations in -
eludes principal and interest payments as follows
Principal payments on long-term liabilities $158,961
•
Interest payments on long -term -liabilities .152,910
Interest payments on temporary financing of
capital projects
821
(Statement ME 325-2) $312,62
3. Contractual Obligations
As at December 31st, 1975,. the board • has contracted for'. a
gymnasium addition to St. Patrick's school, Kinkora at a
cost of $225,504,, Final approval was,obtafned-for this project
-• -on November 19th, 1975.. There has been no expenditure in-
cluded in the attached Financial Statements on this project.
BALANCE SHEET
As atDe;cember 31, 1975
-1974 • „LIABILITIES
$ Current Liabilities1975 1974
Bank and other
short-term borrowing 145,804 .35,619
645 - Accounts payable and
accrued liabilities
1975 taxes refundable for -
reason of employees' withdrawal
of services . - (elementary)
115,793 - (secondary)
1,649 Over:requisition - (elementary) 53,609..
Over -requisition - (secondary)
Other 11,149
Debt charges due and unpaid. 4,630
Other current liabilities
• 215,192. '..122,535
Net long -team liabilities 2,244,697 2,353,658
Reserve for working funds 4
Equity in reserve funds
Unapplied capital revenfe 689 • 3,016
2,460,578 2,4'79,209
'4,451 ' •.' 4,448;.
195,277
14,136
683
215,192 122,535 .
2,245,386 • 2,356,674'
• 2,460,578 2,479,209
26,211
•
46,377'
14,328
REVENUE FUND; STATEMENT OF OPERATIONS FOR ELEMENTARY SCHOOL PURPOSES
EOR THE YEAR ENDED December 31, 1975
Expenditure _ ' 1975
Business administration . ; 139,777
Computer services - 3,189
Instruction • ° • 2,134,276
Educational serviced 29,410
'Attendance, health and food services
• Plant operation and maintenance ' ..377,054,
Transportation " 356,820
Tuition fees ' 5,576
Capital. expenditure (non -allocable) - -68;580
Other operating expenditure- : 16,540
Debt charges and capital loan interest' 312,692.
Non-operating expenditure excluding
tranf;fers to reseryes ti ' 2,337
Total Expenditure 3,446,251
Recovery of Expenditure
Other school hoards ,- tuition fees
•and miscellaneous 106,685•
Government of Ontario, tuition fees
and miscellaneous •341-
. Government of Canada
Individuals tuition fees
Other Revenue, exclt(ding transfers
from reserves 1,472 ..478,
Total Recovery'of Expenditure 108,498 82,297
•
NET.. EXPENr)ITURE • , 3;337,753 • 2,817,708
1974
102,440
3,082
1,749,330
, 32,740
320,713.
337,201
4,941.•
8,220
24,815
315,497
' 1,026
2,900,005
81,049
570
200
Financing of Net Expenditure
Government of Ontario
General Legislative Grants •
LocaITaxation
Previous year's over
(under) requisition
Local taxation raised in the
current year
Decrease (increase) in reserve ;
Total
°
To be applied to following
year's ttaxation:
Refund of 1975 taxes for reason of
employees' withdrawal of services
Net under (over) requisition.
TOTAL • .
CAPITAL FUND STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 1975
Capital Expenditure 1975 • 1974'
Fixed Assets and Work in Progress ' $ . $i %
' Buildings, Furniture and '
Equipment 69,380' 42440
School Sites and improvements .
to sites • 'I ' 52,696 29;652
Pupil 'Transportation ' ,c'hicles
Other e''
• Total a
fess Federal Sales Tax Refund . (12,816)
Total Capital Expenditure 122,076 55,276
('apital Finanre(ig
nexpende'd Funds.a't 1'i'egintting erf
1''irr, .or Ili;rinne•e .nt.- 'HegY(ri'tiing. of
1975. • 1974
2,912,137 2,436,359
23,507 8,269
451,267 394,84:3
3,3-86,911 "2,841,215
(. )
(49,158)
3,337,753
(21,7(13)
2;817,_708
year not permanently financed)
. • it lementary 2,813- 321437
• •Secondary.
Long•Term •t iabilities issued
and sold • - - 50,O0t1»
)(`ontrihutions from. Government
•
of Canada • •
Capital Expenditure from the
• Revenue Fund 138,(i8( 29,652
Transfer to the Revenue Fund
Balance at entl •of Year not Permit
nently Financed or 11'nexpended
Funds at Find of Year) F;le mc•ntary 683 (2,8133).
Secondary
Total
42,070 59,276
0 -
deric
home, and were joined by Mr.
Justice Frank Donnelly,
Crown Attorney " Cochrane,
members of the criminal bar,
and Mrs. Bess Fingland, Mrs,
Laufse Hetherington and Mrs. '
Freddie Clunis.
Lunch was.serve.d:by Mrs.
Carter, assisted by Mrs. Ross
-Lovett, Mrs," Jim Donnelly,
Mrs. Colman Doorly an'.d:MrS.
pan Murphy. During the
morning, the judges' ' wives
-tared the homes of -Mr. 'and
Mrs. James Donnelly and Mr:
and Mrs.- "W. G. . Cochrane.
The day concludect .H,yrth.
dinner a.,t•Benmi-ller Inn.
. Thevisitors, many of
Whom had never visited here."
before, were Very impressed'.'
with • the beauty. of. Goderich
and the surrounding, court-
tryside,
New conservation
area opening
-at Port Blake
The . Port . Blake Con-
servatibn Area, located at the
junction of Highways 83 -and
21,.two -miles north of Grand
Bend, will officially '.'be.
opened between 1 p,in. - 2:30
p.m. on Wednesday, .lune 9,
1976; . •°
This. area has been
-developed under agreement
with the ministry. of .the en-
vironment on land owned by
the Lake Huron Water Supply
System. - '
After •° . the opening
ceremonies, . a tour of the
water supply system ad-
jacent to the Conservation
Area has been arranged.
The Ausable-Bayfield
Conservation Authority
cordially invites the genera4
public to attend this opening. .
.The Authority also hopes area
County Court Judges from the area met Friday in Goderich in the county council cham-
bers. Gathered for the annual meeting were (front row from left) Judges K. Y. 'Dick,
Oxford; P.S. MacKenzie, Bruce; Chief Judge W. E. C. Colter, Toronto; and F. G. Carter,
Huron; (second row from left) Judges Bruce MacDonald, „Essex; W. B. Beardall, Kent;
R. Garscall•en, retired.; T. J. Jacob, Middlesex; J. A. Winter;.Etgin; (third row from left)
Judges J. A. Mullen, newly appointed in Perth; H. B. Lang, retired; T. G. Street, R. S.
.
MacNab and Gordon Klleen, all Middlesex and M. R. Meehan, Lambton. (staff -photo)
•
residents will. frequeat'•this
- area during the summer and
become familiar with .the ;
picnic,.- swimminag, and sun rts.,
bathing features it offers.
entry riaynovse g s
FOR INSURANCE
Terry Crowley
GODERICH, London
524-9075 LI
representing
•
Bill Cochrane, Huron •
Country Playhouse Board
Chairman, . has announced
that'. the Playhouse :has:,
received a $20,000 operating
grant from the, Ontario Arts
Council.: -
You Wouldn't Start Out
On A Long Car Trip With -
Out a Spare Tire-�--
Wl4y-go,Through Life Without a:Savings
Account • :-- START -ONE TODAY
Interest Paid Half Yearly.
April 30'and October 31
Deposit insurance up to 520,000
New Hours of Business
Mon. Tues. Wed.
Thursday
Friday
10
BANK.
10:00 a.m. - 4:30 p.m.
10:00 a.m. - 8:00. p.m.
10:00 a.m. - 6:00 p.m.
TORONTO DOMINION
the bank where people make the difference
Manager Mr. Ron AIIin
Suncoast Mall Goderich
The Hunger; Dragon
7MUMSLE.
GgLABLE
RUMBLE
AHA! THE FIRSt516N5
OF LATE. MORNING
1 -ET -DOWN!' •
rALL RIGHT
G(RL5! LET'S
1 GET SOME
wORic
Af:•OU N
HERE!
• The grant is to assist the
Playhousein the .production
of its 10 • week Festival.. of
Summer Theatre which
consists of four plays and'four'
musical comedies. The
.Playhouse season . i•s
presented at the Playhouse in
Grand -Bend and taken also to.
Meaford and Owen Sound.
The Playhouse first..
received Ontario Arts Council
•3upport -in 1974 during. its
third year of operation. It has'
received .' Arts " Council
assistance also with its an-
nual school tours w)?ich
enabled the Playhouse to take
liye theatre -to • students
throughout the Region.
The Playhouse Student
Matinee series which • was
begun last season will be
dropped for the current year.
Last season, ' high • school
-students were bussed to the
Playhouse .°to' see : "The
Importance of Being Ear-
nest."
TO
• The Ontario. Arts Council
grant will help the Playhouse
• to meet the differencebel-'
•
ween - operating . cost?•; and- '
• operating revenues. .MVir., -
' Cochrane pointed o t that
on
the actual costs of p
were passed on. to the con-
• sumer .and were reflected in-- •%
the price: of 'tickets, not many,
people would be able to! tic
•the theatre. To keep the
moder:ately, priced.. •
and
Playhoe,se s9 eks private
public iissistance indufeet ng
an annual operatin playhouse
Huron . Cduntry
alio receives.. , program.
assistance from .
loco..
governments and 'recent] -
received a ,grant from th,
• Township • df Stephen'_, i
Which It is 5it:llated:
GUARANTEED
INVESTMENT
CERTIFICATES
101/2
Bruce Erskine.
86 North St. Piton" 524-9555
we��csr�aus:
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