The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

GeorgetownActon Wednesday May Charms Chains 1 MOM Charm Gold Chains MOTHER Charm Serpentine Chains 3495 Future scientists The Gold Centre 4537013 Centennial Mall227 Street at Kennedy School celebrated education week lait week a science William Sarah Thurston Mlcahel Harrington Khan hotdlng fob- and these are the budding scientists who received awardi lor her project Judy Eaton Knrtls Andrews Brad Fisher their work Left to right are Jason Valerie Andrews Anne Angela Goodkey and Dec Ann Hunter TOWN OF HILLS BIDS ARE INVITED ON THE FOLLOWING SERVICES REQUIRED 1 Electrical maintenance of all town offices and buildings as required Sandblasting Dick Llcata Pool Georgetown and Prospect Park Wading Pool in Acton 3 Painting Above pools with Pool Chemicals Th Department South Ontario JBHL DAYCARE ADVISORY COMMITTEE Applications are Invited from citizens residing in to sit as voluntary members he DAY CARE ADVISORY COMMITTEE This is an advisory body to Regional Council making recommendations on all matters relating to trie provision Day Care Services Please submit a statement of interest by May 1984 to Mrs Diane Ayllfte Municipality of Halton Box7000 1151 Bronte Road Ontario L6J6E1 Further information may be obtained from D by calling 827 2151 or 639 Extension DavldJ Varley Regional Clerk THE UUUiC FUR STORAGE Cold Stirage Underwriters Approved Storage Vaults 430621 Bonded Drivers FREE FREE Up Delivery Evening Pirk I Repairs fleStylmg ivrtitvvriovii jurs itii 4517673 j THE HALTON BOARD OF EDUCATION 1983 Financial Statements Auditors Report CONSOLIDATED BALANCE SHEET AS AT DECEMBER l3 Current Assets Cash Investments at cost Accounts receivable Prepaid expense Other current assets Note No Total Current Assets Capital outlay to be recovered in future years Other AssetsNoteNo Total Assets labilities Current Liabilities Bank andothershort term borrowing Accounts payable and accrued liabilities Municipalities Over requisition elementary Over requisition secondary Other Other current liabilities Note No Total Current Liabilities Nellong term liabilities Note No Reserve Tor working funds Equity in reserve funds Unexpended capital funds Total Liabilities and Funds 721396 1B82 30 M 143 32059678 111 316 103 875 756 1 175 5 1005 464515 11 32 678 34 1 42245 REVENUE I- STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER Elementary Secondary Expend I lure Business Administration General Administration Computer Services Instruction Plant Operation Maintenance and Teacherages Transportation Tuition Fees Capital Expenditure allocable Debt Charges and Capital Loan InteresKNoteNo Other Operating Expenditure NonOpe ting Expend ture udl transfers to reserves Total Expenditure 228 204 162 120 219 7 1627 1 1 162 306 734 7 232 372153 and Miscellaneous Government of Ontario Miscellaneous Government of Canada Individuals Tuition Fees Other Revenue excluding transfers from Reserves Total Recovery of Expenditure Net Expenditure 24 267 78 393 160 139 128 951 205 56 523 73 331 340050 345168 Elementar of Net Government of Ontario General Legislative Grants Local Taxation Previous year over requisition Local taxation raised in the current year Decrease increase ir Net under over requisition Total Financing of Net Expenditure 30974035 1 178 1 771 1279 38 726 793 452577 33705941 1175136 1785 CAPITAL FUND STATEMENTOF OPERATIONS FOR THE YEAR DECEMBER 1983 Capital Expenditure LEfil Fixed Assets and Work in Progress Buildings Furniture and Equipment 2 745 School Sites and Improvements 14081 Pupil Transportation Vehicles 123 60S Other Less Federal Sales Tax Refund Total Capita Expenditure Financing Unexpended Funds at Beginning of Yew or Balance at Beginning of Year not Financed Elementary Secondary Long Term liabilities Issued and Sold Capital Expenditure from the Revenue Fund Balance at End of Year not Permanently Financed or Unexpended Funds at End of Year Elementary Secondary Total Capful Financing I 310 513 540000 42245 NOTES TO FINANCIAL STATEMENTS NOTE NO ACCOUNTING PRINCIPLES The financial statements have been prepared by the Board using accounting prin ciples that are prescribed by the Ministry of Education and are considered iropriatefor Ontario School Boards These principles are in accordance with general y accepted accounting principles except as follows ACCRUAL ACCOUNTING method except that i No provision is made for interest on unmatured debenture debt from the date of payment to the end of the fiscal year No provision is made to record the liability for retirement andor sick leave benefits accruing over the working lives of employees FIXED ASSETS Fixed Assets are charged to current expenditure unless financed by long term debt Principal and interest charges on net long term liabilities are included as ditures in the period due Fixed assets described as Capital outlay to be recovered in future years are included on 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 RESERVES AND RESERVE FUNDS Reserves and Reserve Funds represent funds appropriated for general and specific purposes and are charged or credited to revenue fund operations In the year ap propriated of drawn down UNDEROVER REQUISITION OF The difference between the net expenditures of any year and the amounts received to finance these expenditures is carried forward to subsequent year to cither in crease or reduce the net revenue requirements from ratepayers LIABILITIES PAYABLE IN U A CURRENCY Net Long Term Liabilities payable in U A dollars are stated at par value with Canadian dollars The amount outstanding at December is US If the total of this liability Is expressed in Canadian dollars at Hit exchange rate prevailing at December the liability is increased by against which an amount of is recorded as reserve This reserve is being amortized over a 9 year period which is not reflected in Note No Net Long Term Liability repayments NOTE NO RETIREMENT GRATUITY PI AN a The Retirement Gratuity Plans established by the Board provide for the payment of a gratuity to employees who have a minimum of ten consecutive years service with the Board immediately prior to retirement on pension by reason of age or ill health The amount of gratuity payment is determined by the employee years of service number of cumulative sick leave days and annual salary The maximum benefit payable loan employee is fifty percent of his annual salary Retirement gratuities paid In 1982454 Retirement gratuities paid in 198360G The estimated unfunded liability of this plan at June 1983 was 11 No provision has been made to meet the liabilities arising from the operation of this plan NOTE NO NETLONG TERM Of the net long term liabilities outstanding of principal amounting to plus interest amounting to 340 is payable over the next five years as follows Princi Toft 1984 214 450 777 2 188 1 718 147 3 10908340 NOTENO LOAN The Revenue Fund expenditure for debt charges and capital loan interest includes principal and interest payments as follows f- Secondar Principal payments on long term liabilities 1 1 437 Interest payments on long term liabUitics 1285 1588 158 Interest payments on temporary financing capital projects 927 Exchange paid on V S Debentures OTHER ASSETS Other Assets represents mortgages receivable net of allowance for One mortgage balance in the gross amount 865 was due in 1983 and Is presently under a process of foreclosure NO OTHER CURRENT ASSETSI 1 TIES A Deferred Leave Plan for the elementary and secondary teaching staff is ad ministered by the Board It is funded out of salary holdbacks and the total teachers contributions including accrued interest amounts to which is included in both current assets and current liabilities WiDyBtcror Education AUDITORS REPORT To the Supporters of The Halton Board of Education We have examined the Balance Sheet of The Board of Education as at December the Revenue Fund Statement of Operations and the Capital Fund Statement of Operations for the year then ended Our examination was made dance with generally accepted auditing standards and accordingly included such tests and other procedures as we considered necessary In the circumstances In our opinion these financial statements present fairl the financial position of the Board as at December 31 1983 and the results year then ended in accordance with the accounting principles described in note l to the financial statements applied on a basis consistent with that of the preceding year MacGillivrayCo Burlington Ontario CHARTERED ACCOUNTANTS March is 1984 Municipal Licence No published by The Hafton Board of Education as required by Provincial Legislation