The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

THE SIMCOE COUNTY BOARD OF EDUCATION DECEMBER 31, 1975 - AUDITORS REPORT To The Simcoe County Board of Education We have examined the Balance Sheet of The Simcoe County Board of Education as at December 31, 1975 and the Revenue Fund Statement of Operations, the Statement of Revised Net Revenue Fund Requirement and the Capital Fund Statement of Operations for the year then ended. Our examination included a general review of the accounting procedures and such tests of accounting records and other supporting evidence as we con- sidered necessary in the circumstances. 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 ac- cepted for Ontario school boards applied on a basis consistent with that of the preceding year except for the change in accounting for fixed assets as described in note 2. Jarrett, Goold & Elliott Chartered Accountants Licence No. 370 Toronto, Ontario March 12, 1976 THE SIMCOE COUNTY BOARD OF EDUCATION DECEMBER 31, 1975 NOTES TO FINANCIAL STATEMENTS (1) ACCRUAL ACCOUNTING The accrual method for reporting revenue and expenditures has been used with the exception of reporting of changes for net long-term liabilities. Principal and interest charges are not accrued from the due date of Payment to the end of the fiscal year. (2) FIXED ASSETS Fixed assets are charged to current expenditures unless financed by long- term debt. Principal and interest charges on net long-term liabilities are included in expenditure in the period due. Fixed assets are included in the balance sheet only to the extent of the balances of the related net long-term liabilities outstanding and of the related temporary financing at the end of the fiscal year. For 1974and prior years, fixed assets were reported at cost. (3) NET LONG-TERM LIABILITIES Debentures are recorded as unmatured debenture debt in the year of sale. (4) RESERVE FOR WORKING FUNDS The reserve for working funds at December 31, 1975, is applicable to the elementary and secondary school operation of the Board as follows: (5) SICK LEAVE BENEFITS Under the sick leave benefit plan, unused sick leave can accumulate and employees may become entitled to a cash Payment when they leave the boards' employment. These accumulated days, to the extent they may be used to determine the cash payment to an employee on terminating, amount to approximately $223,000 at the end of the year. No provision has been made on account of the sick leave benefit plan. (6) PRIOR YEARS' ADJUSTMENTS The net over requisitions, as reported in 1974, have been decreased in Elementary and increased in Secondary as a result of revisions in the general legislative grant, and mill rate subsidy for 1974, by the Ministry of Education subsequent to the filing of the financial statements. A change in the school board's share of the tax on telephone gross receipts in the Municipality of Rama is attributable to the change. Increase As Filed (Decreased) Revised Elementary $411,944 $(32,866) $379,078 Secondary $415,852 $12,509 $428,361 (7) DEBT CHARGES The expenditure for debt charges reported in the Revenue Fund Statement of Operations includes principal and interest payments as follows: Principal payments on long-term liabilities $1,761,040 Interest payments on long-term liabilities 2,100,515 $3,861,555 (8) CONTRACTUAL OBLIGATION As at December 31, 1975 the Board has a contract for the construction of a new secondary school which is approximately 60 per cent complete at the end of the year. The contract will be completed in 1976 for a scheduled school opening of September 1, 1976. The estimated cost to the school board during 1976 of completion of the project is $1,000,000 to be expended out of current revenues of 1976. (9) DEFERRED REVENUE The board has included in its accounts of prior years the amount of $26,124 as deferred revenue of schools for the trainable retarded resulting from the 1969 amalgamation of school boards. During 1975 upon consultation with the Ministry of Education for the Province of Ontario the board took this amount in as revenue and has reported it at code point 0227, ME325-6 Secondary. BALANCE SHEET as at December 31, 1975 Elementary $1,115,261 Secondary 1,176,031 2,291,292 ASSETS © 1975 1974 Current Assets Cash $ 120,941 $ 416,984 Investments at cost 2,000,000 2,000,000 Account receivable Under-requisitions (elementary) 264 15,449 Under-requisitions (secondary) 6,727 2,927 Other 3,076,409 2,280,599 Prepaid expense 128,974 12,836 Other current assets - 133,988 Total current assets 5,333,315 4,862,783 Capital outlay to be recovered in future years 30,164,792 31,452,772 $35,498,107 $36,315,555 A IE TBS a CRORES 7 7) REVENUE FUND STATEMENT OF OPERATIONS FOR ELEMENTARY SCHOOL PURPOSES For the year ended December 31, 1975 1975 1974 EXPENDITURE Buisiness administration $ 442,211 $ 376,231 Computer services 41,340 41,738 Instruction 19,322,197 15,033,495 Education services 143,225 120,649 Attendance, health and food ser- vices 52,759 37,348 Plant operation and maintenance 3,977,972 3,364,517 Transportation 1,932,688 1,621,165 Tuition fees 4,051 7,245 Capital expenditure (non-allocable) 1,729,238 1,035,666 Other operating expenditure 54,437 48,067 Debt charges and capital loan in- terest 2,187,455 2,204,863 Non-operating expenditure ex- cluding transfers to reserves 120,918 105,515 Total Expenditure $30,008,491 $23,996,499 RECOVERY OF EXPENDITURE Other school boards-tuition fees and miscellaneous 98,510 81,746 Government of Ontario, tuition fees and miscellaneous 278,703 145,709 Government of Canada 75,585 66,018 Individuals-tuition fees 2,294 4,962 Other Revenue, excluding transfers from reserves 169,472 192,850 Total Recovery of Expenditure 624,564 491,285 Net Expenditure $29,383,927 $23,505,214 1975 1974 FINANCING OF NET EXPENDITURE Government of Canada General Legislative Grants $18,324,609 $14,680,000 Local Taxation Previous year's over (under) requisition 379,078 324,550 Local taxation raised in the current year 10,882,475 9,012,608 Decrease (increase) in reserve =: (100,000) Total 11,261,553 9,237,158 To be applied to following year's taxation: Net under (over) requisition (202,235) (411,944) Total $29,383,927 $23,505,214 e LIABILITIES 1975 1974 Current Liabilities $ 6,216 - Bank and _ other short-term borrowing Accounts payable and accrued liabilities Over-requisition (elementary) 202,499 427,393 Over-requisition- (secondary) 61,303 418,779 Other 3,266,520 2,238,663 Other current liabilities 11,519 52,161 Total current liabilities 3,548,057 3,136,996 Net long-term liabilities 29,152,722 30,321,761 Reserve for working funds 2,291,292 2,291,292 Unapplied capital revenue 506,036 565,506 a $35,498,107 $36,315,555 REVENUE FUND STATEMENT OF OPERATIONS FOR SECONDARY SCHOOL PURPOSES For the year ended December 31, 1975 CAPITAL FUND STATEMENT OF OPERATIONS For the year ended December 31, 1975 CAPITAL EXPENDITURE B75 ue Fixed Assets and Work in Progress Buildings, furniture and equipment $4,307,092 $2,017,951 School sites and improvements to sites 86,280 196,844 Pupil transportation vehicles 43,834 32,603 Other 2 7,293 19,090 Total _ $4,444,499 $2,266,488 Less Federal Sales Tax Refund 46,318 41,274 Total Capital Expenditure $4,398,181 $2,225,214 J. M. Ramsay, Director of Education Wm. Brown, Chairman of the Board EXPENDITURE e72 es Business administration $ 391,790 $ 334,167 Computer Services 36,660 37,012 Instruction 18,835,901 15,025,549 Educational Services 77,122 64,968 Attendance, health and food ser- vices 36,622 23,373 Plant operation and maintenance 2,960,693 2,591,334 Transportation 1,311,306 1,086,112 Tuition Fees 84,632 62,423 Capital Expenditure (non-allocable) 1,875,491 41,533 Other Operating Expenditure 39,094 26,943 Debt charges and capital loan in- terest 1,674,100 1,733,327 Non-operating expenditure ex- cluding transfers to reserves 111,481 86,994 Total Expenditure $27,434,892 $21,113,735 RECOVERY OF EXPENDITURE Other school boards - tuition fees and miscellaneous 403,329 369,404 Govt. of Ontario, tuition fees and miscellaneous 230,582 176,032 Government ot Canada 88,550 76,982 Individuals-tuition fees 131,492 91,376 Other Revenue, excluding transfer from reserves 177,694 245,084 Total Recovery of Expenditure $1,031,647 $958,878 Net Expenditure $26,403,245 $20,154,857 FINANCING OF NET EXPENDITURE 1975 1974 Government of Canada General Legislative Grants $16,987,332 $12,459,635 Local Taxation : Previous year's over (under) requisition 428,361 363,800 Local taxation raised in the current year 9,042,128 7,847,274 Decrease (increase) in reserve --- (100,000) Total $9,470,489 $8,111,074 To be applied to following year's' taxation Net under (over) requisition (54,576) (415,852) Total $26,403,245 $20,154,857 75 1974 CAPITAL FINANCING % Unexpended Funds at beginning of year or (Balance at beginning of year not permanently financed) - elementary $. (521,417) $ (171,623) - secondary (44,089) 181,101 Long-term liabilities issued and sold 592,000 406,000 Capital expenditure from the revenue fund 3,910,709 1,259,891 Transfer to the revenue fund (45,058) (15,661) Balance at end of year not per- manently financed - elementary 339,189 521,417 - secondary 166,847 44,089 . Total $4,398,181 $2,225,214 In Victoria Harbour \ LE a a Bridal shower for Mary Alphonse held recently at St. by Lorraine Kindy A bridal shower was held in St. Mary's parish hall, Victoria Harbour on Tuesday, May 18 in honour of Miss Mary Alphonse who will be the bride of Brad Armstrong of Orillia on June 5. Her' bridesmaids Cheryl Langridge, Theresa Grozelle, Jeannie Alphonse, and Marlene Moreau helped her open her gifts. The community gift was a blender and a _ soup tureen. Mary thanked everyone for the lovely gifts and the CWL for organizing it. A lovely lunch under the con- venorship of Grace Brousseau was enjoyed. Mother's Day The children of St. Paul's Presbyterian Church, Victoria Harbour took part in a Mother's Day service and then presented the mothers with flowers. There was a_ presen- tation made-by Mrs. Jill Rowland to Mrs. LeVine Fares for her 50 years service as Sunday School superintendent and as Sunday school teacher. Visitors Mr. and Mrs. Lorne Belcher and_ family visited Mr. and Mrs. Don Eplett of Mitchell and also visited Captain Ted Belcher of the ship Algorail at the elevator at Goderich. A number of area teenagers spent the weekend at the Cayuga car races. Mr. and Mrs. L.B. Garry visited Mr. and Mary's parish hall Mrs. Paul Kindy for the weekend. Mr. and Mrs. Leo Meehan and family spent the weekend at their trailer. | Stephen Lewis guest of NDP riding association Stephen Lewis, Leader of the Opposition, will be the guest speaker Wed- nesday, June 2, at the Victoria Harbour Public School, Victoria Harbour, when Simcoe East New Democrats select their candidate for the next Ontario. provincial election. Party members and interested members of the public are invited to attend the nomination meeting which com- mences at 8:00 p.m. Social hour begins at 7:30 and resumes following the business of the meeting, to allow press and public to speak personally with Mr. Lewis. David Rapson, riding president, announces too that delegates will be chosen the same evening to send to the biennieal Paul Delaney of Midland, convention of the Ontario New Democratic Party to be held June 9-12 in Kingston. Persons responsible for organizing the Nomination Meeting are riding Vice Presidnet; Robin Talbot executive member from _ Port MeNicoll; and Fayne Bullen riding finance chairman. Any of these persons may be contacted for further details. Joint plan topic at Medonte council Medonte Council recently heard comments from township consultant M. Brodigan regarding a proposed joint plan for an area of Medonte Town- ship and the Village of Coldwater. Financial _ assistance will be available for the preparation of a joint plan. Township clerk Howard Robinson will be con- tacting Coldwater Council to discuss the plan. At the same meeting, fire chief Allan Burt was authorized by council to arrange for the purchase of a fire alarm system with five telephones near each fire hall. Fire alarms are to be obtained as soon as possible. Huronia Community Calendar -- Organizers are invited to publicize their up- coming events free of charge in the Times Community Calendar. Please call the Com- munity Calendar editor at 526-9369 or drop your message into the Midland Times office, 525 Bay Street. Wednesday, May 26 --Huronia Social Planning Council annual meeting at The Arch, Yonge Street. Guest speaker Karen Hill, Ontario Welfare Council Cocktail hour at 6:30 p.m. Dinner 7:00. p.m. Tickets available at the Commodore Hotel and The Argh. Wednesday, May 26 -- Huronia District Branch of the Canadian Diabetic Association will hold its monthly meeting at 8 p.m. in the 3C Conference Room, Royal Victoria Hospital, Barrie. For further information, write Box 992, Barrie, or phone 728- 3820. Wednesday May 26 -- Ladies' Guild of All Saints Anglican Church, Penetanguishene, will hold its annual Spring Buffet Supper. Tickets available from Guild members or call 549-8856, 549-7295. Everyone is welcome to attend. Wednesday, May 26 - St. Paul's United Church, Midland, is holding a Day of Retreat for Women at Camp Simpresca, from 9 a.m. until 3 p.m. Thursday, May 27 - Spring meeting of Midland Lawn Bowling Club, 7:30 p.m. in the auditorium Parkview Public School. Lunch will be served. Thursday, May 27 -- Huronia Chapter, Registered Nurses Association of Ontario dinner meeting at Holcomb's Restaurant, 77 Colborne Street West, Orillia. Social hour at 6:30 p.m. Guest speaker, Dr. D.L. Vanderburg. Thursday, May 27 - Midland-Penetaguishene Big Brothers Association annual dinner. Cocktails 6 to 7 p.m Dinner 7 p.m. Speaker Dr. Henry Feenstra, at the Brooklea Golf and Country Club. Contact Larry Houston at Spearn's Men's Wear, 526-2061. Friday, May 28 -- Euchre party at the Waubaushene Legion, 8 p.m. Cash prizes, refreshments and must be over 18. Saturday, May 29 ---Auction, Rummage and Bake Sale at 1 p.m. Ray Stanley's barn, Old Fort Road. To support Old Fort Community playground. For pickup call 526-8311. Saturday May 29 -- Rummage Sale, in Knox Presbyterian Church, Midland, at 10 a.m. Auspices Dorothy Lukes Auxiliary. For pickup call 526-2907, 526- 6215. Saturday, May 29 - The Midland Chapter of the S.P.E.B.S.Q.S.A. second annula parade of harmony "'Strollin' Down Harmony Lane", featuring The Huronia Harmonzers Chorus, Timbre Tones Quartet and the Tri-City Slickers Quartet. Time: 8 p.m. Midland Secondary School auditorium. Tickets available at T and G Remnant Shop, Lamers Paint and Wallpaper, Megaw Real Estate, Alex's Service Centre, Cumming-Nicholson, Johnstone's Music Land, and Dutcher and Corbett Ltd., Elmvale, or from any Bar- bershopper. Saturday,, May 29 - Georgian Bay Citizen Band Club will hold May Dance at the Port McNicoll Community Centre at 9 p.m. Everyone interested in CB invited. Tickets available from Club members and / or executive. } - . Saturday, May 29 Sunday, May 30 - Hoofbeat '76. Inter Breed Horse Show will be held at Molson's Park, Barrie, starting at 9 a.m. Saturday. Sunday, May 30 -- Ebenezer United Church Anniversary at 11 a.m. Guest speaker, Rev. Robert Lindsay. Special music by the Junior Choir and Minesing Quartet. Notice -- Say did you miss out on getting one of those handy and interesting cookbooks the nurses Alumnae published? "Recipes from a Nurses Scrapbook" -- if so you'd better hurry -- they've just received their final printing. Cost $2.00 each. All proceeds to the New Huronia District Hospital. Call Rena Bell 526-5362. Monday, May 31 -- Penetanguishene ladies' softball league at 6:30 p.m. the far diamond, John McGuire Park. Registration forms available at Town Office, Penetanguishene. Clearing date May 20. Monday, May 31 - Midland Horticultural Society Spring Flower Show, featuring 'Floral Trix for '76', at the Orange Hall, 7 p.m. Demonstration of flower arranging by Mrs. V.J. Unsworth, Scarborough. All are welcome. Wednesday, June 2 - Penetang United Church Women will hold a rummage sale at the Legion Hall, from 1:00 until 4:00 p.m. Fridays, until June 18 -- Georgian Bay Lung Association sponsors conditioning program for asthma, chronic bronchitis, emphysema, at Parkview Public School, Midland, Seventh Street entrance, 7:00 p.m. Friday, June 4 -Summer Luncheon, First Presbyterian Church, Penetanguishene. Reserved seatings: 11:30 a.m. 12:00 p.m. 12:30 p.m. and 1:00 p.m. Tickets available, call 549-2185 or 549-8563. Notice - St. Paul's Co-Operative Nursery School is now accepting registration Forms for those in- terested in enrolling either 3 or 4 year old children for next term. For information regarding enrollment, please contact executive at following numbers. 526-9652 526-4624 526- 4504. Saturday, June 12 -- Vasey Church Auction, Vasey Community Park, County Rd. 23. Antiques, farm equipment, quilts, baked goods, household articles. Starts 12:00 p.m. Proceeds for Vasey United Church renovation program. Sunday, June 13 Monday, June 14 -- An overnight bus tour is being planned to Marineland, Niagara Falls, Ont. to Our Lady Fatima Shrine, Youngstown, N.Y. and to O Lady of Victory Shrine, Buffalo, N.Y. For in- formation phone 549-8819. Saturday, June 19 --Old fashioned Band Concert, Little Lake Park, Midland, sponsored by the Simcoe County Recreation Association for the Institutionalized Senior Citizens. Proceeds will be used to carry on a creative avtivity program during summer months for shut-ins of this area. For information phone 526-9732. Saturday, June 19 - At Little Lake Park, Midland, an old fashioned bandstand will be sponsored by the Simcoe County Recreational Association for the Institutionalized Senior Citizens, which will officially set off Senior Citizen Week. There will be six different types of entertainment, goodies to eat, a bake sale and a craft table. Page 10, Wednesday, May 26, 1976 { ee