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12 The Canadian Statesman, Bowmanville, August 29, 19 'ELIZABETlH'VILLE Our outdoor service was at Mr. and Mrs. Mac Walker's on Sunday with a good attendance. Rev. Kennedy was the speaker. Mrs. Nancy Caron sang a solo and Mrs. Greer (Barbara) played for hier. Mrs. Caron was the organist. Rev. Kennedy spoke on the theme food uses and land laws as set out in the bible and will continue with this subject next Sunday when the service will be at Canton Church lawn or in the hall if weather is bad. We are asked to bring garden donations to be exchanged or given to the needy. A box for money donations to help the World's Hungry will be there. We also plan to have communion at this service. On Sunday the Elizabethville ladies supplied the fruit bread. Our Women's Institute will hold their first fail meeting Sept. 4, The U.C.W. will meet Sept. 11. 1 ' Mr. and Mrs. C. Mercer had Mr. and Mrs. H. Gordon, Port Hope, on Friday evening. Mr. and Mrs. H. klodgins had a week's holidays and have been going various places such as the Ex. Mrs. Westheuser and girls, Mrs. Dekoker, and Mrs. H. Thickson spent Wednesday at Ontario Place. Mrs. D. Gumby, Toronto was with Mr. and Mrs. R. Beatty on Saturday. Miss Diane Beatty had a few days at home last week. Mr. and Mrs. H. Quantrili attended the opening of the Sports' Complex in Port Hope on Sunday. Paul Quantrill; Kevin and Shelly, Currier have been spending a few days with their grandparents, Mr. and Mrs. H. Quantrill at various times during the last two weeks. Mr. and Mrs. C. Mercer had Mr. and Mrs. W. Tirbenche and family, Port Hope, Mr. and Mrs. R. Crombie and boys Bowmanville caîl on Sunday. The Golden Age Club met on Thursday at the hall. Next Thursday is Birthday Party Section Two meeting. Do corne and cele- brate your August birthday Mr. and Mrs. H. Tickon attended the Finnie Corn Roast at Garden Hill on Sunday afternoon. Several musiciani entertained the group. Mrs. R. Westheuser and girls, and Mrs. J. Dekoker' spent Friday afternoon with Ticksons. Mr. and Mrs. Joe Lewko and Darryl, Calgary called at Thicksons' on Saturday. They. lef t for home on Sunday after spending two weeks with Mrs. W. Lewko. We were sorry to hear that Mark Peacock, son of Mr. and& Mrs. J. Peacock got' badly burned in a similar accident to the one that seven were burned to death in last week. This one happened the week, prior but only two boys and leader were caught and made it out by doing what the leader said about running right through the f ire. Oh, about the stray dog, it disappeared as soon as the news was printed about being found here. Yelverton Girls Softball team are currently fighting it out in the playoffs. After a pretty shaky start they eliminated Pontypool in a close contest, two games out ofthree. Next they met Millbrook Sr. Ladies. In the first garne they were bombed by the Millbrook ladies. In the second game they fought away elimination by a 15 - 14 score on third favor coming frorn behind in mue first inning with an eight run defeat. Both teams settled down for the final third garne with Lady Luck srniling on the locals by a 5 - 2 score. The local ladies wil meet the winners of the other semi final playoffs. The other night around 9:30 p.rn. we were surprised to see an object fly across the sky west to east to the north traillng flarnes like a cornet. Were pleased to have our curiosity satisfied to learn that it was a portion of Russian rocket used, we understand, to boost a Russian satellite into space. Velly interesting. Were also interested to see an article in Saturday Star,' The Canadian, concerning Paul Lishuzan of Blackstock re fur knitting business. Deepest sympathy is extended to Mr. and Mrs. Joe Ridmond and farnily of Lindsay, formerly of Nestle- ton in the tragic death of two of their sons in afata-l caër - truck accident near Lindsay this week - a needless expendi- ture of young lives and sorrow to innocent friends and rela- tives. Mr. Marti Malcolm attend- ed a sales convention of Fisher Stoves and accessories at the Skyline Hotel, Ottawa this weekend on behaîf of Lindsay UCO Stoves Dept. Mr. and Mrs. Frank Russo and Jeffery have just returned from an interesting two week vacation in England and report an enjoyable vacation. Mr. and Mrs. Murray Malcolm andLana, Mr. and Mrs. Paul Bowen are current- ly enjoying a week's vacation with daughters and sisters -YEr-L'L wV ERTONw, 1AÙbi Darlene and Valerie Malcolm in Edmonton. Valerie will be returning home with them to return to Sheridan College Mr, and Mrs. Ralph Mal- colm were honored with a family gathering at the home of their daughter Cindy and hubby Mr. and Mrs. Cos De Givsti on the occasion of their 3th anniversary in T.O. on. Sunday. Arnong those esent were Mr. and Mrs. RayWight of Islingtoni, Mrs. Emma Malcom of Uxbridge, Mr. and Mrs. Gordon~ Hender- son and families of T.O., Mrs. Gladys Henderson of Bethany, Mrs. Ernestine Robinson, Mr. and Mrs. Clare Robinson and Crista, Mr. Darryl Robinson of Yelverton, Mr. and Mrs. Murray Henderson and girls of Havelock, Mr. and Mrs. Bob Fick of T.O., Mr. and Mrs. Harvey Malcolm and Mona, Mr. Marti Malcolm and Miss Jane Connolly, Mr. and Mrs. Alex Josefacki of T.O. A most enjoyable social afternoon was spent. Congratulations are extended to Ruth and Ralpb on this auspicious occasion. Mr. Bob Kennington was guest speaker at Yelverton United Churcb on Sundav Professor and Mrs. Jas. Stevens and family from Guelph, spent several days last week with bis ,mother, Mrs. Margareta Stevegns. Mr. and Mrs. McKee fromn Taif, Saudi, Ar'abia, and ber son Brian Walker from Toronto visited last week with Mr. and Mrs. Jack Stapleton. Saturday afternoon Sheila Langstaff, daughter of Mr. and Mrs. Ariel Langstaff and Mark Dalmer of Kitchener were married in Kendal United Church. Rev. A. Tizzard officiated. The recep- tion was held in Tyrone Cornmunity Centre. The young couple wiil be living in Kitchener. Suzette and Angela Neal from Pontypool and Heather Dinner, Port Hope are having some holidays this week with their grandparents Mr.. ana Mrs. Roy Little. There was a good turn out at the corn roast held by the Couples' Club at the home of Mr. and Mrs. Allan Downes on Sunday evening. Mr. and Mrs. Sid Hallowell's daughter Nancy and her husband show- ed pictures. An enjoyable evening for al. Mr. and, Mrs. Leonard Falls held a family gathering while ber mother Mrs. Wright from Brampton was with them. Those attending were Mr. and Mrs. Bull Wright and David from Burlington, Mr. and Mrs. Walter Wrîght, Mr. andý Mrs. Ivan Lauroue, Fred and Bob Wright and friends, Woodbridge; Mr. and Mrs. Brian Lawrence, Bruce and Scott from Guelph, Mr. and Mrs. Gary McKay and Barry, Mr. and Mrs. Doug Austin, Tina and Chris from. New- market; Mr. and Mrs. Bob Falls, Nicole, Rachel, Lauren from Peterborough, and Mr. and Mrs. Wayne Blackburn,, Susan and Jeremy from Orono. The Kendal Eagles have been doing well in the playoff up until this past weekend. They lost out to Dashwood from near London. On Sunday they lost the second game with them in Kendal Park. The score was 5-'l. l'an a rare bird-, a blood'donor., frlendsfor lie i FINANE To the Members of Councli, Inhabtants and Rat epayers of the Corporation of the Town of Newcastle: We have examined the following financial statements of the Town of Newcastle as at December 31, 1978 and for the vear thAn ended: àtatement of Revenue and Expendture Statement of Capital Operations Balance Sheet Our examînation was made ln accordance with generally accepted auditing standards, and accordingly included such tests and other procedures as we consldered necessary ln the cir- cumstances. ln ouropinIon, these financlal statements present fairly the financial position of the Town of New- castle as at December 31, 1978 and the resuits of ifs operations for the year then ended In accordance with accountîng principles generally accepted for Ontario municipalities appied on a basis consistent with that of the preceding year. Deloitte Haskins & Seill Chartered Accountants Oshawa, Ontario June6. jg79 Licence No. 775 STATEMENT 0F REVENUE AND EXPENDITURE FOR THE YEAR ENDED DECEMBER 31,1978 Accumulatsd net revenus (defîcît) at the beglnning of the year Expenditures and transfers Municipal expenditures General government Protection to persans and property Transportation services Envronmental services Health services Social and family services Recreation and cultural services Planning and development Total expqurdture Tranaf ors. Transfers to region or counfy Transfers to school boards Total transitara Total expendItures and transfers Revenus by purpos Municipal purpases Taxation Payments in lieu of taxes Ontarlo grants Othe r grants Fees and service charges Other Revenue te pay for municipal purposea Reglon or county req ulsitlon Taxation Paymenfs In lieu of taxes Ontario grants Revenue te psy the reglon or county requlsîtion School board requltlon Taxation Payments ln lieu of taxes Other Revenue to psy the achool board requisîtion Total revenue Accumulated net revenue (def icît) et the end of the year Anaiysed ae foliows: General revenue Region or county School boards special areas Local boa rds 1978 Budget s 1978 Actual -S 1977 Actuel CORPORATION 0F THE TOWN 0F NEWCASTLE A ~IL BALANCE SHEET AS AT DECEMBER 31,1978 ASSETS Current asse Cash Taxes receivable Accounts receivable Other current assets 1 nvestments 275,598 735,326 987,259 54,047 5-1024 2,057,254 3,324,889 Capital outlay te be recovered ln future years (Noe 2) Other long term assats 48,089 5,430,232 1977 393,993 909,188 874,509 75,487 4,624 2,257,801 2,668,328 58,152' 4,984,281 E The extent t hat the municlpalify could become hiable should the anticipated revenue not materialize ls estimated at $400.000. This amount would be recovered f rom the Parks nc- serve Fund ln 1979 as authorized by Resolution of Council. 3. RESERVE FUN DS: During the year $599.258 (1977 - $190,249) were credited direct ly f0 reserve funds wifhout being recorded as revenues and expenditures of the Revenue Fund. Major sources were: 1978 Contributions f rom subdividers .............. $ 71,366 Parking Revenue ...................... .... 25,870 Ontario Home Renewal Plan contributions....... - Sale of Land.......................... .... 431,705 lnterest Earned ........... ................ 70,317 $599,258 LIABILITIES 435,306 402,438 241,999 650,299 567,235 2,028,810 184,453 14,995 15,000 882,530 215,051 609,330 521,322 2,116,743 185,543 21,359 17,185- 1,095,763 490,199 420,269 2,012,146 172,501 17,350 13,800 970,288 271,067 Current iabillltis Temporary lbans Accounts payable and accrued liabilities Other current liabilities Net long term lablltesa (Noes4) Reserves and reserve funda <Note 3) Aceumulated net revenue (defîIcIt) and unapplled capital receiptu 4,558,373 4,855,591 4,367,620 1,860,059 4,849,429 6,709,488 il1,267,861 2,406,142 70,142 1,060,680 322,450 481,416 4,340,830 1,413,344 15,000 266,433 1,966,253 4,848,499 6,814,752 11,670,343 2,322,659 70,540 1,140,891 4 10,932 664,782 4,609,804 1,471,012 17,352 258,242 1,751,919 4,430,406 6,182,325 10,549,945 2,219,206 68,213 1,267,262 8,096 313,980 557,451 4,434,208 1,453,614 14,967 388,331 1,694,777 1,746,606 1,856,912 4,789,948 4,844,680 7,000 6,315 4,796,948 10,832,555 4,850,995 11,207,405 6,116 4,419,264 10,710,384 (60,500) ,402,438 (27,157) (69,643) 674 (24) 35,650 ________ (60,50d) STATEMENT 0F CAPITAL OPERATIONS FOR THE YEAR ENDED DECEMBER 31.1978 1978 Actual Unflnanced capital outlay (Unexpe ndsd capital flnanclng) at the beglnnlng of the year Capital expenditurs Generai governmont Protection fa persans and properfy Transportation services Envranmental services Health services Social and famiiy services Recreafion and cultural services Planning and devobopmenf Other Total expenditure Capitalftînanclng Contributions f rom ftho revenue fund Contributions f rom reservo funds iand reservos Long term iabilities Incurrod Ontario grants Other Total capital flnanclng Unflnanced capital cutiaeylunexpended capital înanclng) at the end of the ysar (Note 2(o)) 707,747 2,968 280,225 1,056,898 659 816,624 8,473 33,200 2,199,047 313,532 322,269 33,200 330,720 1,575,721 1,331,073 180,989 150,004 (1,822) 51,602 21,665_ 402,438 1977 Actuel 65,775 23,694 38,675 1,028,383 847,025 1,223 12,900 1,951,900 491,257 15,972 12,900 232,779 557,020 1,309,928 707,747 600,000 1,094,289 1,694,289 1,958,816 1,1837,627 (60,500) 5,430,232 1,071,651 1,071,651 1.949,110 1 ,bIý1,052 402,438 4,984,281 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1978 1. ACCOUNTING POLICIES: (a) Statement of revenue and expenditure: This statement refiecf s the revenues and expenditures of the revenue fund, committees 0f council and the following local boards: Public Library Clarke Museum and Archives Bowmanvillo Museum Bowmanville Central Business District Improvement Area (b> Statemnent of capital operations: This stafement reflects the capital expenditure of the municipality to be recovered f rom the general municipal revenue of theo municipalify and ifs local boards as descrlbed in Note 1 (a). The long-term liabilif les reported on this statement were incurred by the Region of Durham an behaîf of the municipality. Repaymenf of this debt is the respons- ibility of this municipality. <c) Balance shoot: This statement reflocts the assets and liabilities of the revenue fund, the capital fund, reserve funds and local boards as described in Note 1 (a). The assets and liabiltios of local boards and onterprises that have not been consolidated are roflected only ta the extent of their related net long-term liabilities and capital outlay f0 be rocoverod in future yoars. (d) Flxed assets: The historical cost and accumulated depreciation of fixed assots is not reported for municipal purposes. lnsfead, the "Capital outlay f0 bo recovered ln future years" which s the aggregate of the principal portion of unmafured long-term liabilities, capital funds transferred to other organizafions, and the cost of capital projects not yet permanently financed is report cd on the Balance Sheet. <sa) Municipal enterprîses: Municipal onterprises are thoseactivities whose casts are substantially recovered f rom service charges on the users. The enferprises of this municipallty whose revenues and expendifures have niot been consolidated ln these financial statements are: Bowmanville Cemetery Bondhead Cemetery Board Bowmanville Public Utilifies Commission Newcastle Public Ut ilif les Commission Hydro-Electric Commission of Orono (f) Charges for net iong-term labllties: Debt refiremont cosfs including principal and inferesf are charged agalnst current revenues in the periods in whlch they are paid. lnterest charges are nof accrued for the perlods f rom the dates of the lafest interest paymenfs to the end of the financlal year. (g) Trust funda: Trust funds administered by the municlpalify amounting ta $66,624 are only reflected in the Trust Funds, Statemont of Continuity and Balance Sheef. 2. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS: (a) Some capital outlay f0 be recovered in future years does not represent a burden on general municipal revenues, as if ls to be recovered in future years from other sources: 1978 Spocial Charges on benof ifing landowners...$249243 Municipal enterprises...................... 210,662 $459,905 1977 $221,097 229,963 $451.060 (b) Capital ouf lays, including f ixed assets and ftho transfers of capital funds in the amount of $313.532, whlch have been financed f rom goneral municipal revenues of the current year, are reported on the Stafement of Revenue and Expendifure. (c) lnciuded in capital ouf lay fa be recovered in future years are amounits fofailing apprax- imafely $1.069.000 whlch ropresent expendifures in connoction with the construction 0f two arenas, completod in 1978. A substantial portion of these expenditures are f0, be financed f rom Winfario Grants and ftho public subscriptions ta be recoived in 1979. 4. NET LONG TERM LIABILITIES: (a) The balance ofnet long term liabilif les reported on the Balance Sheet is made up of the following: Total long term liabilities incurred by the municlpality including those incurred on behaîf of former school boards, other municipalities and municipal enterprises and outstanding at the end of the yoar amount to-..........$ 2,624,544 In addition, the municipality has assumed rosponsibility for the payment of principal and interost charges on certain long term liabilit les issued by other municipal ities At the end of the year, the principal amount of thîs liability is......................................... ... 1,371,172 0f the foregoing long term liabilities, the responsibilif y for paymenit of principal and lnteresf charges has been assumed by 0f hors for a principal amount of ............................. -........... and held as investments amount f0.................... ............. _M1000) Net long term liabilties af the end of the year.................... $ 1 ,958;816 (b) 0f the nef long term liabilities reporfed ln (a) 0f this note, $822.990 ln principal pay- ments are payable f rom 1979 f0 1983, $798.422 f ram 1984 f0 1988 and $372.403 there- affer and are summarlzed as f ollows: 1979 1984 1989 to f0 and 1983 1988 thereaffer Recovered f rom general municipal revenues .................... $750.885 Recovered f rom other sources.... 72,105 $750.254 $282.014 48,168 90,389 $822,990 $798.422 $.372.403 (c) Included ln "Net long term liabilities" on the Balance Sheef Is an amouni o: $828,380 payable in United States currency, and converted into Canadian dollars afifthe rate pro- valilng when the liability was Incurred. If the lîabllity is converted Into Canadian dollars at the exchange rate prevailing ai December 31, the liability would be increased by $95.911. 5. CHARGES FOR NET LONG TERM LIABILITIES: Total charges for fthe year for long ferm liabilities were as follows: 1978 Principal payments .......................... $159911 Inferest ........................ ........... 186,746 $346,657 0f the total charges shown above $304,1 13 were paid f rom general municipal revenues of the municipality and are included in expendîture on the Statement of Revenue and Ex- pendifuro classified under t he appropriate functional headings. The remnainlrtg $42.544 were recovered f rom municipal enferprises. 6. LIABILITY FOR VESTED SICK LEAVE BENEFITS: Under the sick beave benef if plan, unused sick leave can accumulate and employees May become ontifled f0 a cash payment when they beave the munîcipalitys employment. The liabilify for these accumulafed days, ta the extent that they have vested and could be taken In cash by an employee on terminafing, amounted f0 $181.009 at the end 0f the yoar. Substantially, no provision has been made for this liability. 7. AGREEMENTS: (a) Ministry 0f Housing: In connection wif h a proposed major developmenf In the Court ice area of the Town, the Minisfry of HousIng has agreed f0 provide financial assistance ta the Town in the form of a grant of $248.000 and an lnterest-f ree loart.of $283,000. The grant has béen recordod as deferred revenue In the accompanying financli statement s pending regist ration of a sub- division agreement. (b) Ontario Hydro: In connectian with fthe Darlingfon Generafing Station Project,.Ontarlo Hydro has agreed f0 finance appraxlmafely $2.8 million for ftho cost of roads, water, sewer services and other costs Incurred by t ho municipalify during the construction perlod. These funds wlll bo pald ta the Town as. the costs are incurred; the balance, If any, wil bo paid an comolet ion of the proiect., KENDAL NEWS At church on Sunday morn- ing Rev. A. Tizzard entitled bis message True Devotion taken from il Gorenthians. 10: 1-18. Pamela and Patricia Frank sang a duet ac- companied by Helen Wood at the piano. Foilowing the cburch service was, a short board meeting concerning the auction sale being held at the church on Saturday,, September l5th ,afternoon., The U.C.W. ladies will be holding a bake sale and the Sunday School wii serve refreshments. Any good used articles for the sale will be appreciated. STATE T $ 43,621 24,554 45,539' 19,621 56,914 $1 90,249 (2,001,900) 1977 $140.017 191,205 $331.222 l'