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The Midland Student Manpower has three new Student Placement Officer. Their duty is to help students find and secure a job. Once the student ap- plies to student Man- power the Placement officer registers the student. Then he must make an analysis of the students skills, interests, and hobbies. After this is ac- complished, he takes job orders from employers Gathering specific in- formation from _ the employer concerning the skills and requirements of the job. He then matches the students talents to the employer's requireme- nts. Now the student is given a referral slip and is sent out to the em- ployer Cubs and Graham The student is usually given three referral slips ata time thus increasing his chances of finding a job. The employer makes the final decision on who to hire after the student has applied The student Placement officers are Stephen Graham, Sharon Beatty, and Danielle Paille. Steve and Sharon are both Scouts former students. of Penetanguishene _Seco- ntary School Steve is in his third year at the University of Toronto majoring in commerce and finance. The reason he took the job is because it involves accounting and people. Therefore, gaining ex- perience in a field related to his own interests. Steven is returning to University in the fall to complete his course Placement officers now on duty Sharon also attended University of Toronto graduating with 4 years of B.H.P.E. which is physical and_ health education. Sharon's reason for taking the job is the ex- perience gained in working with people and the satisfaction of helping others. Danielle Paille is working at the Penetanguishene Office. In order to be a Student Placement Officer you must be returning to a Post Secondary Institution in the fall Every year new Student Placement Officers are hired. Therefore, the turnover of officers is high mainly because it is a way for a University Student to gain ex- perience. The job is self- gratifying and rewarding to the person who wants to learn. THIS SPRING BUILD A bottle drive set for June 3 If you never seem to get around to taking those empty bottles back for return hang on a little longer and the Midland Cubs and Scouts will be glad to take care of them The Cubs and Scouts will be holding their annual bottle drive on Saturday, June 3 and will be glad to take those empty containers off your hands Money raised through the drive will go toward funding of Cub and Scout projects and events in Midland Members of the various troups and packs will be blitzing the town for the one-day drive, while members of the Ven- turers will be back at the drop off centre doing the sorting. Pre Cast Steps @Sidewalk Slabs Septic Tanks PATIO with PATIO SLABS f= ~ from Atlas Block Hwy. 12 - South of Midland 534-7219 = rot Irin THE SIMCOE COUNTY BOARD OF EDUCATION December 31, 1977 - Financial Statements 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, 1977 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 was made in accordance with generally accepted auditing standards and accordingly Pixed assets described as capital outlay to be recovered in future years, 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. (c) Net Long-Term Liabilities: bentures are recorded as unmatured debenture debt in the year of sale. 5. Prior Years' Adjustments As a result of revisions in the general legislative grant by the Ministry of Education subsequent to the filing of the 1976 financial statements, the net over requisitions, as reported, are as follows: As Filed Increase Revised Elementary $449,424 $4,628 $454,052 De- Secondary $606,638 $5,124 $611,762 6. Debt Charges The expenditure These adjustments have not been refiected in the 1977 financial statements. for debt charges reported in the Revenue Fund Statement of Operations includes principal and interest payments as follows: Principal payments on long-term liabilities $1,861,040 Interest payments on long-term liabilities 1,912,015 $3,773,055 x Anti-Inflation Act (Canada) Under an agreement between the Government of Ontario and the Government of Canada, authorized by the Anti-Inflation Agreements Act (1976), remuneration paid by an Ontario school board to its employees Act (Canada). is subject to the provisions of the Anti-Inflation 8. Contractural Obligation The board has a contract as at December 31, 1977 to included such tests and other procedures (2)) Reserve" for Working Funds as we considered necessary in the circum- The reserve for working funds at stances. December 31, 1977, is applicable to the elementary and secondary school In our opinion, these financial statements operation of the Board as follows: present fairly the financial position of 5 the Board as at December 31, 1977 and the Elementary at results of its operations for the year Y -- then ended in accordance with accounting $1,145 principles generally accepted for Ontario school boards applied on a basis consistent 3. Sick Leave Benefits with that of the preceding year. Under the sick leave benefit plan, unused sick leave can accumulate and employees may become B Jarrett, Goold & Elliott entitled to a cash payment when they leave the Toronto, Ontario Chartered Accountants board's employment. March 22, 1978 Licence No. 580 These accumulated days, to the extent they may NOTES TO FINANCIAL STATEMENTS be used to determine the cash payment to an employee on terminating, amount to approximately (1) Accounting Policies $250,000 at the end of the year. No provision 7 ie ae ae has been made on account of the sick leave (a) Accrual Accounting: The accrual benefit plan. method for reporting revenue and ex- penditures has been used with the 4. Net Long-Term Liabilities 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. Of the net long-term liabilities outstanding of $25,811,477 principal amounting to $9,399,400 plus interest amounting to $7,759,027 is payable over the next five years as follows: construct a new secondary school which is sub- stantially complete at the year end. The contract is to be completed in 1978 at an estimated cost of $2,100,000. he Government of Canada has intro- duced the Employment Tax Credit Program to stimu- | late employment in the private sector by providing a tax rebate. Here's how it works. 1. If an employer expands his normal work force by hiring an unemploye person through a Canada Manpower Centre/Canada Employment Centre, and the job has been created as a direct result of the Employment Tax HOW 10 DO MORE '§ EMPLOYMENT TAX CREDIT PROGRAM. must be added to taxable income. Unused amounts may be carried forward for up to five years. 5. A claim may be made for up to 40 hours work a week for each new employee for a period of up to nine months. 6. Each new job must be full-time. Nor- mally no less than 35 hours a week. And that's it, es- sentially. The program has been designed to work with a mini- Credit Program, the businessis eligible to claim the tax rebate. 2. Almost any business that's been in operation for more than one year is eligible. 3. The rebate is calculated at $1.50, $1.75 or $2.00 per hour. This rate is determined by the geographic area of Canadain which the new employee will be working. 4. The rebate is deductible from federal income taxes payable but BUSINESS AND PAY LESS TAX. Canada Employment mum of red tape. All employers should by now have received a booklet that gives all the If it has not been received, employers should contact a local Canada Man- power Centre/ Centre. The Employment Tax Credit Program. It's ready to go to work for Canada. And for you. iv PSUS Emploi et Bud Cullen, Minister Bud Cullen, Ministre Canada Vino details ofthe program. A10, Wednesday, May 10, 1978 P. Pp (b) Fixed Assets: Pixed Assets are uur eb Total charged to current expenditures un- 1978 $1,908,377 $1,806,410 $ 3,714,787 less financed by long-term debt. 1979 1,976,456 1,680,829 3,657,285 Principal and interest charges on 1980 =-:1,953,391 1,549,637 3,503,028 net long-term liabilities are in- 1981 1,760,473 1,420,536 3,181,009 cluded in expenditure in the period 1982 _1,800,703 1,301,615 3,102,318 uae $9,399,400 $7,759,027 $17,158,427 BALANCE SHEET ASSETS LIABILITIES Current Assets 1977 1976 Current Liabilities 1977 1976 Cash $ 63,822 $ 357,531 Bank and other short-term borrowing $ 273,003 $ ae Investments at cost so SPs Accounts payable and accrued Account Receivable liabilities Under-requisitions- (elementary) a Spe Over-requisition-(elementary) 470,492 449,424 Under-requisitions-~ (secondary) EPs ey Over-requisition- (secondary) 857,111 606,638 Other 2,751,367 3,624,978 Other 3,586,737 2,717,441 Prepaid expense 248,208 107,609 Debt Charges due and unpaid = SQ Other current assets = === Reserve for 1978 Tax Reductions- 2,963,397 _ 4,090,118 felementery) ae Sen Capital outlay to be recovered in Other current liabilities 13,144 11,518 future years 29,194,215 28,160,068 OtheriAssets me beta. 5,200,487 3,785,021 Net long-term liabilities 25,811,478 27,319,518 32,157,612 32,250,186 Reserve for working funds 1,145,647 1,145,647 Equity in reserve funds =2> ea Unexpended capital funds === se 32,157,612 32,250,186 REVENUE FUND STATEMENT OF OPERATIONS FOR ELEMENTARY SCHOOL PURPOSES EXPENDITURES 1977 1976 FINANCING OF NET EXPENDITURE 1977 1976 Business administration $ 473,001 §$ 455,610 A Computer services 38,1 41,340 povernnen ao laon Arlo Instruction 25,977,979 23,349,719 ; : Educational services 163,071 127,28 General Legislative Grants 20,342,122 18,854,001 Attendance, health and food services 71,637 64,386 Local Taxation Plant operation and maintenance 4,492,548 3,869,107 Previous year's over (under) requisition 449,424 207,565 Transportation 2,363,297 2,132,031 Local taxation raised in the current Tuition fees 19,633 11,758 year 14,793,364 13,414,479 Capital expenditure (non-applicable) 5,691 822,034 Refund of taxes for reason of Other operating expenditure 31,031 40,060 employees' withdrawal of services Debt charges and capital loan interest 2,205,601 2,202,492 or lockout ------ Non-operating expenditure excluding Decrease (increase) in reserve transfers to reserves 148,472 240,756 other than reserve for refund er Ry saat Total Expenditure 35,990,121 _ 33,356,474 Pe SD ---- sownae Total 15,242,788 14,179,674 BECO RD EASE AD TRUBE To be applied to the following year's Other school boards-tuition fees taxation and miscellaneous 132,479 120,786 Reserve for refund of taxes for Government of Ontario, tuition fees reason of employees' withdrawal of and miscellaneous 516,168 414,790 services or lockout 2 == Government of Canada 78,778 74,987 Rai viduale=tuvevonifecs 1/050 "441 Net under (over) requisition (470,492) (449 ,424) Other Revenue, excluding transfers from reserves 147,228 161,219 cor SBOE RS (erg uot Total Recovery of Expenditure 875,703 772,223 NET EXPENDITURE 35,114,418 32,584,251 REVENUE FUND STATEMENT OF OPERATIONS FOR SECONDARY SCHOOL PURPOSES ENPENDITURE 1977 1976 FINANCING OF NET EXPENDITURE 1977 1976 Business administration $ 419,408 $ 404,187 Computer services é 33,840 é 36,660 Government of Ontario § $ Instruction 25,355,568 22,763,164 General Legislative Grants 17,938,566 16,128,641 Educational services 81,623 68,535 Attendance, health and food services 44,403 45,166 Jocal Taxation Plant operation and maintenance 3,520,373 3,133,729 Previous year's over (under) requisition 606,638 48,917 Transportation 1,691,248 1,566,922 Local taxation raised in the current Tuition fees 91,080 104,003 year 14,765,181 13,284,896 Capital expenditure (non-allocable) 694,413 829,041 Refund of taxes for reason of Other operating expenditure 544 29,658 employees' withdrawal of services Debt charges and capital loan interest 1,567,454 1,644,676 or lockout 22D en Hon. oPe rai ngsexpends eure gexciuaing) ' Decrease (increase) in reserve other Masters seta Sea NEaG ese a Soe than reserve for refund of taxes es 588,015 'ota. x! itur 3,336 30,845,727 MGrace oe | See Total 15,371,819 13,921,828 RECOVERY OF EXPENDITURE Other school boards-tuition fees Domberappiied scogthestollowtndayeauis and miscellaneous 471,985 6,498), eaxeeton Government of Ontario, tuition fees Reserve for refund of taxes for and miscellaneous 274,807 253,744 reason of employees' withdrawal of Government of Canada 129,157 119,504 services or lockout S=> === Individuals-tuition fees 183,414 155,749 ' Other Revenue, excluding transfers Net under (over) requisition (857,111) (606,638) f rom reserves 120,699 406,401 Total 32,453,274 29,443,831 Total Recovery of Expenditure 1,180,062 1,401,896 NET EXPENDITURE 32,453,274 29,443,831 CAPITAL FUND STATEMENT OF OPERATIONS CAPITAL EXPENDITURE CAPITAL FINANCING Fixed Assets and Work in Progress Unexpended Funds at Beginning of Year, Buildings, Furniture & Equipment $ 3,799,254 $ 2,020,315 or (Balance at Beginning of year not School Sites and Improvements permanently financed) to Sites 2,698 23,571 Elementary (330,095) (339,189) Pupil Transportation Vehicles 73,631 31,458 Secondary (510,455) (166,847) Other aod 19,130 Long-Term Liabilities issued and sold 353,000 --- Refund Contributions from Government of Canada cam crm BOLD PDE SO) es a) Lt) En) Capital Expenditure from the Revenue Fund 977,258 1,782,190. Total Capital Expenditure 3,860,275 2,074,955 Transfer to the Revenue Fund (12,171) (41,749) Balance at end of Year not Permanently Financed or (Unexpended Funds at End of Year) Elementary 552,699 330,095 'Y 2,830,039 510,455 Total 3,860,275 22074 ,955, The Simcoe County Board of Education COMPARATIVE GENERAL STATISTICS OTe, 1976 (1) Provides education for: (a) Day School Students 44,456 44,093 (b) Summer School & Night School Students 10,845 8,910 (2) Transports Daily: (a) Students Carried 21,021 21,500 (b) Buses Used 336 330 (3) Operates: (a) Elementary Schools 79 79 (b) Secondary Schools 14 13 (c) Schools for the Trainable Retarded 5 5 (4) Accommodates its Students and Staff in Buildings having a Replacement Cost of: $115,200,000 $111,195,000 (5) Employs Permanent Staff for its Operation 2,673 2,689 (6) Compares to Provincial Average Costs Per Pupil: Elementary: Simcoe 1,354 1,234 Provincial Average 1,588 1,412 Secondary: Simcoe 2,086 1,923 Provincial Average 2,314 2,096 St evan Dt )