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ean Ae RR PTT Rt BARE RE Er sap aly AT TOWNSHIP OF SCUGOG 1980 FINANCIAL REPORT (CONTINUED) NOTES TO THE FINANCIAL STATEMENTS December 31, 1980 1. Accounting policies (a) Statement of revenue and expenditure This statement reflects the revenues dnd expenditures of the revenue fund and the Township of Scugog Library Board. (b) Statement of capital operations (1) This statement reflects the capital expenditure of the municipality to be recovered from general municipal revenue of the municipality and its local boarddescribedinnotel (a). | (2) The long term liabilities reported on this state- ment were incurred by the Region of Durham on behalf of the municipality. Repayment of this debt is the responsibility of this municipality. (c) Balancesheet This statement reflects the assets and liabilities of the revenue fund, the capital fund, reserve funds and the localboard describedinnote1 (a). The assets and liabili- ties of local boards and enterprises that have not been consolidated are reflected only to the extent of their re- lated net long term liabilities and capital outlay to be recovered in future years. (d) Fixed assets The historical cost and accumulated depreciation of - fixed assets is not reported for municipal purposes. Instead, the 'Capital outlay to be recovered in future years', which is the aggregate of the principal portion of unmatured long term liabilities, capital funds trans- ferred to other organizations, and the cost of capital - projects not yet permanently financed, is reported on the "Balance Sheet'. (e) Municipal enterprises Municipal enterprises are those activities whose costs aresubstantially recovered from service charges on the users. The Port Perry Hydro-Electric Commission is a municipal enterprise of this municipality whose re- venues and expenditures have not been consolidated in these financial statements. (f) Charges for net long term liabilities Debt retirement costs, including principal and interest, are charged against current revenues in the periods in which they are paid. Interest charges are not accrued for the periods from the dates of the latest interest pay- menisigthe end of the financial year. (g) Trust funds # Trust funds administered by the municipality amounting to $33,557 are only reflected in the "Trust Funds, State- ment of Continuity and Balance Sheet'. 2.CAPITALOUTLAY TO BERECOVERED INFUTUREYEARS ~~ (a) Some capital outlay to be recovered in future years "does not represent a burden on general municipal re- venues, as it is tobe recovered in future years from other sources: 1980 1979 Special charges on benefitting landowners... .. $293,416 $202,809 Municipal enterprises. ..... 110, 872 124,820 © $404,288 $327,629 (b) Capital outlays, including fixed assets and the trans- fers of capital funds in the amount of $304,919 which have been financed from general municipal revenues of the current year, are reported on the 'Statement of Revenueand Expenditure". 3. Reserve funds During the year $111,463 were credited directly to re- serve funds without being recorded as revenues and expenditures of therevenue fund. Sources were: 1980 1979 Interest earned ........... $17,463 $12,727 Contributions from developers .............. 54,000 81,794 Ontario Home Renewal Grant .......... 40,000 - $111,463 $94,521 4. Net long term liabilities (a) The balance for net long term liabilities reported on the "Balance Sheet' is made up of the following: Total long term liabilities incurred by the municipality including those incur- red on behalf of former school boards, other municipalities and municipal enterprises and outstanding at the end of theyearamountto.............. J $167,759 In addition, the municipality has as- sumed responsibility for the payment of principal and interest charges on certain long term liabilities issued by other municipalities. Atthe end of the year the principal amount of this liability is..... 356,529 Of the long term liabilties shown above, ~ the responsibility for payment of princi- pal and interest charges has been assumed by others for a principal amount of ................iiiia... Net long term liabilities at the end of the (b) Included in '"Net long term liabilities" on the "Balance Sheet" is an amount of $57,871 payable in United States dollars and converted into Canadian -dollars at the rate prevailing when the liability was incurred. If the liability is converted into Canadian dollars at the exchange rate prevailing at December 31, theliability would be increased by $10,227. 5.ACCUMULATED NETREVENUE (DEFICIT) AT THE END OF THE YEAR The balance in the revenue fund at the year end is avail- able toreduce (tobe added to) the levies of the following classes of ratepayers. 1980 1979 General ratepayers. ...... $(210,995) $(39,342) Designated ratepayers.... (1,628) (1,310) School board ratepayers . 13,605 9,565 Region ratepayers ....... 2,880 19,299 a SISA FESS SL NT AREA REN WA ody ROTA KE ai id $(196,138) $ (11,788) SS | 6. CHARGESFORNETLONG TERM LIABILITIES Total charges for the year for net long term liabilities were as follows: , 1980 1979 Principal .................... $ 39,243 $ 36,541 terest ......c.ccinvinininane 21,705 21,766 $60,948 $58,307 Of the total charges shown above $36,020 were paid from general municipal revenues of the municipality and are included in expenditure on the "Statement of Revenue and Expenditure" classified under the appropriate functional headings. The remaining $24,928 were re- covered from the municipal enterprise for which the related net long term liabilities were incurred and are notreflectedinthestatement. . 7. LIABILITY FOR VESTED 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 municipality's em- ployment. Theliability for these accumulated days, to the extent that they have vested and could be taken in cash by an employee onterminating, amounted to $79,370 at the end of the year. An amount of $38,000 has been provided for this past service liability and is included in reserves on the "Balance Sheet'. i v7 Fa | ILA SEE Fi LL VIR ND KEN Ets 4 AN EVE: o£ Tid AA Pa Lie ERRATA Lo . A> 'a PORT PERRY STAR -- Wed., August 19, 1981 -- 21 Playground Blackstock Playground by Jodi Timgren Sadly the summer comes to an end. Although the children might not remem- ber the whole summer, they will remember the happy times, the fun times, the embarrassment and most of the hard work that they put into the fund raising. At this point in time I would like to thank a very special number of people that contributed to play- ground with their hospitality and kindness. Mrs. Hooge- veen, George Freeman and associates and the parents who participated in our fund raisers and trips, are the ones we would like to give our highest appreciation. I would also like to thank my assistants who worked very hard. Each year as I've worked with children the rewards are even more sub- stantial and I do believe '"'we can learn a lot from children." Scugog Island by Sandra Heayn Starting Fantasy Week off with a bang was our exciting trip to Ontario place, Monday. A dream come true was the children's village where the children were amused for hours on end. Tuesday and Wednesday of this week were filled mainly with preparations for "exhibition 81" that took place on Thursday. In case you missed the festivities, Scugog Island Playground marched down Queen Street dressed as lolly pops and followed by our float based on the Cinderella Theme. After the parade everyone enjoyed a barbecue lunch. The children displayed their musical talents by singing: "The Candy Man"' accompanied by Kathy Irvine. To wrap up this year's summer playground we had a pizza party on Friday, which was enjoyed by all! We would like to thank everyone involved in this year's playground for making it such a success! Hope to see you all next year! Bye for now! Kathy, Joanne, Sandra.' Port Perry 5th week Last week the force was with us. On Tuesday, Tower productions presented a "space oddyessy'"'. In the morning we saw "Star Wars' followed by 'The Empire Strikes Back" in the afternoon. We also had an intermission featuring a Cape Canaveral presenta- tion by Ian Hunter. The point of the week came Wednesday when Elizabeth Jennings demonstrated great patience in teaching the kids basic needlepoint techniques. The trip we've been saving for, finally came Thursday, when we saw the sights of Lindsay. Our tour began with lunch at McDonnell Park, we then saw the Lindsay locks at work. To conclude the day, Kawartha Summer Theatre enter- tained us with the child's play 'A Snowflake for Elmo." Friday was our busy day as we went to a parade at Western Weekend, made candles, went swimming and played baseball. Speaking of baseball, the upset of the year came when Prince Albert annihilated the Port Panthers with a surprising victory of 5-2. Thanks to all those who participated in the play- ground raffle. We raised a total of $154.00. Our lucky winner was Ruth Strong. Congratulations on winning a year's subscription to the Port Perry Star. 6th week The last week of play- ground was largely spent preparing for our big finale which was Thursday. The older kids kept themselves busy by making baseball shirts for the final game against Prince Albert. They also spent many hours of practice with coach Todd. All the teams efforts were rewarded in the end as the Port Panthers were victorious, beating Prince Albert 8-3. Congratulations team! The 4-6 year olds were equally successful in their song and dramatization of "Robin in the Rain." They spent many weeks rehearsing for the event. The parade down Queen Street was also a great achievement. The space rocket, surrounded by 30 space patrolers was the highlight of Port Perry's parade contribution. The favoured. event of the day however was the barbecue. All the play- grounders enjoyed a lunch of hot dogs, potato chips, pretzels, and apple juice. For desert we had a famous Hawks Cake (which wasn't even chocolate). The last day of play- ground. To celebrate the conclusion of a very short 6 weeks. We had a day of fun and varied events. The major portion of the morning was spent watching films and munching on popcorn. In the afternoon, after our usual swim we came back to the Scaut Hall for a Cookie and Quench Party. What a way to end the summer.! Thanks kids and parents for an enjoyable, successful 6 weeks. Four 1981 Playground Staff. SEWING MACHINE REPAIRS Call GIL RUMMENIE 986-5319 Or Drop Off At MODERN TEXTILES WHY BUY RETAIL? Great "July Sale" SAVE 122% PRICE INCREASE -NOSALESTAX- . Complete Pool Kits with sand filter, Above Ground... from$699 On Ground with deck $1599 All Pool Chemicals on Sale! Liquid Chlorine 5 gal. $5.99 INTERNATIONAL MANUFACTURING 723-0345 (Even. 576-2287) Sey 0) - at Bema - TL ye b E18 bd 5 2 a [IE iB (yin r¥; FEUD 45, Pi aA Xi BAR eA Ears $e Eh & CERNE --- ve --- TE