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THE HERALD May HALTON ROMAN CATHOLIC SEPARATE SCHOOL BOARD 1978 FINANCIAL STATEMENTS AUDITORS REPORT BALANCE SHEET DECEMBER 31 1978 ASSETS CAPITAL FUND STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31 1378 ASSETS CAPITAL EXPENDITURE School il improvement TOTAL CAPITAL EXPENDITURE CAPITAL FINANCING LIABILITIES CURRENT LIABILITIES Bank and other short borrow Accounts payable and liabilities Over rcquSlion Debt charges due a NET LONG TERM LIABILITIES note RESERVE FOR KING FUNDS EQUITY IN RESERVE FUNDS UNEXPENDED CAPITAL FUNDS I BOO I 647 SMS NOTE lb Fk SIGNIFICANT J Accounting ire not the NOTES TO THE FINANCIAL STATEMENTS DECEMBER 1978 lonq term ihc Dal IClES I been ttrm liabilities Prim ymcnl end of unless financed Sheet only I REVENUE FUND STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER allocable Educational service Ailondanco health Plant operation and Tuition feet Capital expenditure Other operating expenditure Debt charges and capital loan interest Note I Non operating ngtranslcrs to reserves Total expenditure RECOVERY OF EXPENDITURE Other school boards fees and Govern mem of Ontario fees and miscellaneous Government ol Canada individual feci Other revenue c eluding transfers Total Recovery of NET EXPENDITURE FINANCING OF NET EXPENDITURE Government of Ontario General Legislative Grants Local taxation Previous years over requisition Local taxation raised in the current year J 78B 153 B 7 14 764 93 50 475 6 677 47fl 413 tl NOTE J DEBT CHARGES AND CAPITAL LOAN INTEREST The expenditure for debt charges and capital loan interest at Opera I ions principal and interest payment NOTE NET LONG TERM LIABILITY REPAYMENTS net long term liauilit outstanding 5 plus interest amounting to 7 is payable 319 AUDITORS REPORT i Roman Catholic Seen examined balance sheet it December 31 revenu ilcment operations for the yea generally audi opinion financial presenl I nancial on Roman Separate School Board as at December and for year men ended accordance with generally principles ipplied on basis consistent that year iToiTATo SIB Published by The Roman Catholic Separata School Board a required by Legislation