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AUGUST 22, I973 TERRACE BAY NEWS PAGE 9 Analysed as follows: General revenue 72,596 45,621 72,596 45,621 CONSOLIDATED BALANCE SHEET TOWNSHIP OF SCHREIBER AS AT DECEMBER 31, 1972 ASSETS 1972 1971 $ $ Current assets Cash 86,231 60,302 Accounts receivable 13,529 3,517 Taxes receivable 37,496 35,106 Other current assets 137,256 108,925 Capital outlay to be recovered in future years 8,639 I5,;501 145,895 124,426 LIABILITIES Current liabilities Accounts payable and accrued liabilities . I5,299 14,305 15,299 14,305 Net long term liabilities 8,000 14,500 Reserves and reserve funds 50,000 50,000 Accumulated net revenue (deficit) and unapplied capital receipts 72,596 45,621 145,895 124,426 NOTES TO FINANCIAL STATEMENTS TOWNSHIP OF SCHREIRER I. Charges for net long-term liabilities Total charges for the year for net long-term liabilities were as follows: Principal payment 6,500 Interest 203 $7,403 The total charges shown above were paid from the general revenues of the municipality and are included in expenditures classified under the appropriate functional headings. 2. Net long-term liabilities Total long-term liabilities incurred by the municipality and out-standing at the end of the year amount to $289,500 Of the long-term liabilities shown above, the responsibility for payment of principal and interest charges has been assumed by others for a principal amount of 281,500 cont'd «J.