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a . © a tod kh 38 AE] ae sim an akin aes 4 vy K y KS | : ¥ S ' > 4. er 3 a a DY 3 i . 3 y p BH ¥ : , PS hh we. - - x die a LEN tle T SRP As HRA WEY SIN FS. 22-- PORT PERRY STAR -- Wednesaay, June 25, 1975 oS $ (KY fs LY, RON or gh | 5 bombil bin ashidodvisiamindisuinteniditolnp dad pindsis Sd YL YA 1 i > ~ AUDITOR'S REPORT TO THE SUPPORTERS OF THE DURHAM BOARD OF EDUCATION We have examined the Balance Sheet of The Durham Board of Education as at December 31, 1974 and the Revenue Fund Statement of Operations and Statement of Source and Application of Capital Funds 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 considered necessary in the circumstances. In our opinion these Financial Statements present fairly the financial position of the Board as at December 31, 1974 and the results of its operations and the source and application of its capital funds for the year then ended, in accordance with accounting principles generally accepted for Ontario school boards applied on a basis consistent with that of the preceding year. Oshawa, Ontario June 7, 1975. License No. 001. REVENUE FUND STATEMENT OF OPERATIONS FOR ELEMENTARY SCHOOL PURPOSES FOR THE YEAR ENDED DECEMBER 31, 1974 EXPENDITURE Business administration Instruction Educational services Attendance, health and food services Plant operation Plant maintenance Transportation Tuition fees Capital expenditure (non-allocable) Other operating expenditure Debt charges on capital borrowing Non-operating expenditure excluding transfers to reserves TOTAL EXPENDITURE RECOVERY OF EXPENDITURE Other school boards - tuition fees and transportation Government of Ontario - tuition fees and miscellaneous Government of Canada - tuition fees and miscellaneous Individuals - tuition fees Other Revenue, excluding transfers, from reserves TOTAL RECOVERY OF EXPENDITURE NET EXPENDITURE FINANCING OF NET EXPENDITURE Government of Ontario General Legislative Grants Local Taxation 1973 Over (Under) requisition Local taxation raised in 1974 $ (322,059) 9,128,257 Decrease (Increase) in reserve 71,119 Net Under (Over) Requisition Required to be Applied to 1975 taxation TOTAL ' | W252 4%. 74 Chartered Accountants. $ 395,764 16,949,698 162,415 21,184 2,530,499 727,582 728,010 32,397 1,202,714 27,214 2,245,010 81,251 $25,103,738 143,920 83,306 25,391 116 438,755 691,488 $24,412,250 NM ---- $15,722,211 8,877,317 (187,278) $24,412,250 STATEMENT OF SOURCE AND APPLICATION OF CAPITAL FUNDS FOR THE YEAR ENDED DECEMBER 31, 1974 SOURCE Unexpended funds at beginning of year Reimbursements from Governments Ontario Capital Expenditure from Revenue Fund Federal Sales Tax refund Other TOTAL APPLICATION Balance at beginning of year not permanently financed Fixed assets and work in progress Buildings $1,251,306 Furniture and equipment 361,791 School sites 129,665 Pupil transportation vehicles 13,343 Other - Local Improvement 2,625 Other Applications Transferred to Revenue Fund Unexpended funds at end of year TOTAL $ 60,537 1,210 2,016,958 6,675 -2,000 $2,087.380 $ 210,335 1,758,730 88,148 30,167 $,2,087,380 SIGNED ON BEHALF OF THE BOARD M. O'DONNELL Chairman of The Board K. D. MUNROE Chief Executive Officer REVENUE FUND STATEMENT OF OPERATIONS FOR SECONDARY SCHOOL PURPOSES FOR THE YEAR ENDED DECEMBER 31, 1974 EXPENDITURE Business administration $ 342,401 Computer services 38,662 Instruction 15,848,444 Educational services 65,286 Attendance, health and food services 62,359 Plant operation 2,266,040 Plant maintenance 498,841 Transportation 669,934 Tuition fees 139,883 Capital expenditure (non-allocable) 460,551 Other operating expenditure 5,907 Debt charges on capital borrowing 1,893,864 Non-operating expenditure excluding transfers to reserves 127,510 TOTAL EXPENDITURE $22,419,682 RECOVERY OF EXPENDITURE Other school boards - tuition fees and transportation 500,707 Government of Ontario - tuition fees and miscellaneous 183,512 Government of Canada - tuition fees and miscellaneous 40,956 Individuals (Adult Education and Driver Education) 105,138 Other Revenue, excluding transfers from reserves _ 235.593 TOTAL RECOVERY OF EXPENDITURE $ 1,065,906 NET EXPENDITURE $21,353,776 FINANCING OF NET EXPENDITURE © Government of Ontario General Legislative Grants $12,936,557 Local Taxation 1973 Over (Under) requisition 341,339" Local taxation raised in 1974 8,021,917 Decrease (Increase) in reserve 316,240 8,679,496 Net Under (Over) Requisition Required to be Applied to 1975 Taxation - (262,277) TOTAL $21,353,776 BALANCE SHEET AS AT DECEMBER 31, 1974 ASSETS Revenue Capital Reserve Current Assets Fund Fund Fund Cath $ 4.975 $ 27,548 $ 10,994 Investments at Cost 4,800,000 904,000 Accounts Receivable Municipalities Supplementary Taxes etc. 603,374 Other School Boards 74,426 Government of Ontario 288,506 Government of Canada 8,487 3,666 Other 65,629 Due from Other Funds Capital 1,047 Revenue 506,657 Reserve 436,195 Other Current Assets 175,548 Total Current Assets 6,458,187 31,214 1,421,651 Fixed Assets Land, Buildings & Equipment 9.980.064 Buses "63,148 $6,458,187 $90,074,426 $1,421,651 LIABILITIES Revenue Capital Reserve Current Liabilities Fund Fund Fund Bank Indebtedness $ 294,091 Accounts Payable Municipalities Over Requisition 449 555 Other School Boards 157 987 Trades Payable and Accrued Liabilities 2,416,035 Due to Other Funds Reserve 506,657 Revenue . 1.047 436.195 Total Current Liabilities $3,824,325 $ 1,047 $ 436,195 Long Term Liabilities Unmatured Debenture Debt 29,785,431 Deferred Income 42,968 Reserve for Working Funds 2,590,894 Equity in Reserve Funds 985.456 Investments In Fixed Assets 60,287,948 ' ' $6,458,187 $90,071,126 $1,121,651