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PAGE 16 TERRACE BAY NEWS JUNE 4, 1970 CONTRIBUTIONS FROM THE REVENUE FUND FOR Recreation and community services eg ' Capital expenditure 2,120 2,079 25,291 2,079 TRANSFERS FOR CAPITAL PURPOSES OTHER School boards 530,000 Sale of old fire truck 2,500 25,291 532,079 __ Screen 532079 TOWNSHIP OF TERRACE BAY CAPITAL FUND BALANCE SHEET _AS AT_DECEMBER 31, 1969 Peau git aie lice E ip reir ornare Re mT AS ASSETS 1969 1968 $ $ Capitel outlay to be recovered in future years 47,993 764,843 TOTAL ASSETS 47,993 764,843 _ LIABILITIES NET LONG TERM LIABILITIES ' General municipal activities (note 3) "cs SEG SN 50,143 Municipal enterprises 16,050 30,000 School boards (all liabilities were assumed by divisional boards of education from January I,1969) 684,700 475993 764, 843 TOTAL LIABILITIES 47,993 . 764,843 SS 4 ogueaeaaiepaeanneenees TOWNSHIP OF TERRACE BAY NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 1969 I. Charges for net long term liabilities Total charges for the year for net long term liabilities were as follows: Principal payments $32,150 Interest _ ? 34,794 Of the totel charges shown Above, an amount of $19,672 was paid from the general revenues of the municipality and is included in expenditure classified under the appropriate functional headings and an amount of $15,122 was recovered from the minicipal enterprises for which the related net long term liabilities were incurred. 2. Contributions to reserve fund The provision of an amount of $10,000 for a reserve fund toward the construction of a fire hall is included in the statement of revenue and expenditure under the classification of protection to persons and property. 3. Net long term liabilities to be specially assessed Net long term liabilities for sewer works amounting to $20,600.00 which will require certain properties to be specially assessed under section 380 of the Municipal Act, have been included in the net long term liabilities, classified under general activities. " continued