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PAGE 12 TERRACE BAY NEWS OCTOBER 9, 1969 TOWNSHIP OF SCHREIBER FINANCIAL STATEMENTS AU DF 7-0 R628 VRE POR T AS AT DECEMBER 31, 1968 # Office and general $ 6,388 $13,376 $103,707 Net income for year $ $2 Hydro-Electric Commission of the Township of Schreiber. We have.examined the balance sheet of the Hydro-Electric Commission of the Township of Schreiber as at December 31, 1968 and the statement of operating for the year then ended. Our examination included a general review of the accounting procedures and such tests of accounting records and other October I, 1969 The foregoing financial statements for 1968 are published b the council in compliance with the law. They are condensed from the statements prepared by the Municipal Auditors and have been approved by them. The complete statements may supporting evidence as we considered necessary in the circum-{be seen during office hours at the Municipal Hydro Office, stances. In our opinion, these financial statements present fairly the financial position of the Commission at December 31, 1968 and the results of its operations for the year then ended, in accordance with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Port Arthur, Ontario April 15,1969 Clerkson, Gordon and Co. Chartered Accountants. THE MUNICIPALITY OF THE TOWNSHIP OF SCHREIBER HYDRO~ELECTRIC COMMISSION STATEMENT OF OPERATING FOR THE YEAR ENDED DECEMBER 31, 1968 Gross earnings: Residential service $ 57,990 Commercial service January - October 28,365 Industriel service 2,710 General rate - November - December 8,088 Street lighting 5,457 Interest earned Teer Pole rental 375 Sundry 154 $104, 386 Less expenses Operating expenses Distribution system - Operation and maintenance $ 2,813 Line transformer maintenance 324 Meter maintenance 1,092 Power purchased 78,535 Street lighting - Operation and maintenance I, 303 Depreciation 6, 264 $90,331 Administrative expenses Customers billing and collecting $6,988 continued next colum .. (Miss) Irene G. Spicer Secretary-Treasurer Schreiber Hydro-Electric Commission Schreiber, Ontario AUD TT OR S tee 2.20 RT To the Ratepayers of the Municipality of the Township of Schreiber. We have examined the balance sheets of the Municipality of the Township of Schreiber as at December 31, 1968 and the related statements of revenue and expenditure, revenue fund surplus and source and application of capital funds for the year ended on that date. Our examination included @ general review of the accounting procedure and such tests of accounting records and other supporting evidence as we considered necessary in the circumstances. The records of the Schreiber Citizens! Rink Committee were not produced for our inspection and the attached fin- ancial statements do not include financial statements for this committee. Subject to the qualifications concerning the records of the Schreiber Citizens' Rink Committee, we hereby report that in our opinion: I. The financial transactions which have>come under notice have been within the powers of the municipality. 2. The audit has been conducted in accordance with the in- structions of the Department of Municipal Affeirs. 3. The financiel statements present fairly the financial position of the mmicipality as et December 31, 1968 and the results of its operations for the year ended on that date. Port Arthur, Ontario April 17, 1969 Clarkson, Gordon and Co. Chartered Accountants. continued page 13 secccesee