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AN I AELNOR Nie 20 -- PORT PERRY STAR -- Wednesday, May 23rd, 1973 AUDITORS REPORT TO THE SUPPORTERS OF THE ENS YEA SRA SE ONTARIO COUNTY BOARD OF EDUCATION We have examined the balance sheet of the Ontario County Board of Education as at December 31, 1972 and the statements of revenue fund, revenue and expenditure, and 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, 1972 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, April 24, 1973. DELOITTE, HASKINS & SELLS, License No. 4277. Auditor. REVENUE FUND STATEMENT OF REVENUE AND EXPENDITURE REVENUE FUND v SECONDARY STATEMENT OF REVENUE AND EXPENDITURE For the Year Ended December 31, 1972 ELEMENTARY EXPENDITURE a Business Administration . 339,881 For the Year Ended December 31, 1972 Compiles Services ............. oo... 15,258 nstruction .. ... IER . 13,885,364 EXPENDITURE } Educational Services NE, 78,571 \ Business Administration " $ 434,014 Attendance, Health and Food Services i 51,920 Insheaotion) Sori : i Plant Operation a = 1,963,862 ucational services ) Plant Maintenance ........ ... . : a 378,337 lleadonen: Xn and Food Services . Mp Transportation ........ 623,751 eration ..... ce : ,282, Tuition Fees ...n...cummm Ce 524,466 Plant Maintenance a -- 641,249 Capital Expenditures (Non-Allocatle) 300,718 ye apation TE 694857 Other Operating Expenditure ... .30,757 Jon bees SIR ) Debt Charges on Capital Borrowing 2,009,120 Capital Expenditures (Non-Allocable) 1,540,126 Non-Operating Expenditures excluding ' Other Operating Expenditure : -- 37,591 T § to R Se -, 256,435 Debt Charges on Capital Borrowing .. . ...... 2,341,582 ransfers to Reserves i Non-Operating vic fiuses excluding Total Expenditure .. $ 20,458,440 Transfers to Reserves 135,590 - RECOVERIES OF EXPENDITURE Total Expenditure AN $ 23,111,603 Other School Boards ... ~ 188,373 Government of Ontario, Tuition Fees and Miscellaneous . ... oo 138,949 COs OF EXPENDITURE Surermen of Canada . . ST 48,794 ther School Boards 77,208 Individuals... 67,531 Government of Ontario, Tuition Fees Other Revenues, excluding Transfers from Reserves 181,135 624,782 and Miscellaneous : " 49,904 Government of Canada Bannerman 24,439 NET EXPENDITURE - . 19,833,658 Individuals 846 Other Revenue, excluding Tranfers from Reserves 149,588 301,985 FINANCED BY: Government of Ontario NET EXPENDITURE . a 22,809,618 General Legislative Grants . ... . 12,310,171 Local Taxation: 1971 Over - Requisition ... ... UN 445,801 FINANCED BY: Local Taxation Raised in 1972 ... 8,035,703 8,481,504 Government of Ontario -- General Legislative Grants 14,628,243 Increase In Reserves ....... ... .... (297,535) 20,494,140 Local Taxation: - 1971 Over - Requisition . 745,135 NET OVER - REQUISITION ON ACCOUNT OF 1972 . Local Taxation Raised in 1972 8,001,931 8,747,066 REQUIRED TO BE APPLIED TO 1973 TAXATION $ 660,482 Decrease in Reserves 117528 23,492,837 NET OVER - REQUISITION ON ACCOUNT OF 1972 BALANCE SHEET AS AT DECEMBER 31, 1972 REQUIRED TO BE APPLIED TO 1973 TAXATION $ 683,219 ASSETS ] Se eioiies-- Revenue Capital Reserve Fund Fund Fund Current Assets: - Cash .. . ....... ....... $ 607,645 418,726 110018 Juvesimenss at cost RUT 1,500,000 230,500 ccounts Receivable: Municipalities .. .... NRE 393,442 STATEMENT OF SOURCE AND APPLICATION OF CAPITAL FUNDS Government of Ontario Co 517,101 183,793 Government of Canada . .... .. . . 23,633 107,355 For the Year Ended December 31, 1972 Other .. i 103,948 _-- Due from Other Funds... . 444,593 5,484 SOURCE . Other Current Assets .. ....... . 45,341 Par Value of Debentures Issued erst 3,675,000 . Contributions from Governments: X Total Current Assets .......... ..... 3 3,635,703 88 Li 486,002 Ontario. . ....... 936,830 Fixed Assets 7h ,344, Capital Erpondjinre from the Revenue Fund 2,107,422 Deficit as at January 1, 1969 reduced by Other } oo Lo 128,652 Ontario Government Assistance in Co TT respect thereof . 76,148 Total : : oe, 6,847,904 $ 3,711,851 $89,054,148 $ 486,002 APPLICATION Fixed Assets: é 4 CLR LIABILITIES Buildings 4,579,430 hin I die nh es Furniture and Equipment 1,275,294 Aosaunis Passhia and Jnerucd Labuan School Sites and Improvements thereto 116,484 unicipalities (inc g requisitions) .. ..... P---- $ 1,343,701 Other . 45,382 ' Betages | Other School Boards I 249,738 Trade Payables and Accrued Total . . : . a. 6,016,590 Li Liabilities =. oo 1,430,671 $ 808,570 Decrease in Capital Funds Not Permanently Financed (831,314) Due to Other Funds ....... : 145,484 444,593 Amounts Not Permanently Financed: Total Current Liabilities . ...... 3,169,594 1,253,163 Balance at December 21, 1571 1,374,008 Unmatured Debenture Debt 35,253,129 Reserve For Working Funds ... . 500,000 Balance 2% December 31, 1972 § Bago Equity in Reserve Funds ......... . 486,002 Deferred Income . . 42,257 Investment in Fixed Assets 52,547,856 $ 3,711,851 $89,054,148 $486,002 ' APPROVED on behalf of the Board: N. H. EDMONDSON, K. D. MUNROE, Chairman of the Board Director Fa