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

STN IRL ELD RN 3 PR A ERS ST LE SIP EE ANT Kha wv wr Stand SPERM IO RUE SEI RIRLE SA RAIL Ri EIEN BAS SR AI ut [ZT ALO PAM v YJ. * ¢" x ITAL IRA TR ANY PA ' he AE Saks v AL "hy ye Fd K ay A eS sdttdasbeinidiiide hut nol disomic h dislikes me GAS Assn Asks ah heme ed id RR id Abid sen teldinasntinntedd dis PORT PERRY STAR -- Wednesday, June 20, 1979 -- 31 Community Care "prepare a busy summer schedule : TOWNSHIP OF SCUGOG 1978 FINANCIAL REPORT (Continued) by Diane McKinzey tarts needed for the luncheon Scugog Community Care have been donated. NOTES TO THE FINANCIAL STATEMENTS 4. NET LONG TERM LIABILITIES held its monthly Advisory A letter of thanks was read December 31, 1978 (a) The balance for net long term liabilities reported Board meeting on Thursday, from Mr. Doug Williams, on the 'Balance Sheet' is made up of the following: June 14th, 1979 at 7:30 p.m. in Principal of Port Perry High 1. ACCOUNTING POLICIES (a) Statement of revenue and expenditure This statement reflects the revenues and 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 board described innote 1(a). (2) The long term liabilities reported on this statement were incurred by the Region of Durham on behalf of the municipality. Repayment of this debt is the responsibility of this municipality. (c) Balance sheet This statement reflects the assets and liabilities of the re- venue fund, the capital fund, reserve funds and the local board described in note 1(a). The assets and liabilities of local boards and enterprises that have not been consoli- dated are reflected only to the extent of their related net long term liabililities 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 transferred to other organi- zations, and the cost of capital projects not yet permanent- ly financed, is reported on the "Balance Sheet". (e) Municipal enterprises Municipal enterprises are those activities whose costs are substantially recovered from service charges on the users. The Port Perry Hydro-Electric Commission is a municipal enterprise of this municipality whose revenues and ex- penditures 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 payments to the end of the financial year. (g) Trust funds Trust funds administered by the municipality amounting to $3,456 are only reflected in the "Trust Funds, Statement of Continuity and Balance Sheet'. 2. CAPITAL OUTLAY TO BE RECOVERED IN FUTURE YEARS (a) Some capital outlay to be recovered in future years does not represent a burden on general municipal reven- ues, as it is to be recovered in future years from other sources: 1978 1977 Special charges on benefitting landowners .............. $183,300 $150,216 Municipal enterprises... ... 138,771 150,721 $322,071 $300,937 (b) Capital outlays, including fixed assets and the trans- fers of capital funds in the amount of $160,229, which have been financed from general municipal revenues of the current year, are reported on the "Statement of Revenue and Expenditure'. 3. RESERVE FUNDS During the year $178,019 were credited directly to re- serve funds without being recorded as revenues and expenditures of the revenue fund. Major sources were: 1978 1977 Interestearned............. $8,359 $4,272 Ontario Home Renewal Programgrants.......... td 60,000 Subdivider and developer contributions. ........... 154,200 46,870 Donations.................. 15,460 30,075 $178,019 $141,217 Total long term liabilities incurred by the municipality including those incurred on behalf of former school boards, other municipalities and municipal enterprises and out- standing at the end of the year amountto..................... co... $432,021 In addition, the municipality has assumed responsibility for the pay- ment of principal and interest charges on certain long term liabilities issued by other munici- palities. At the end of the year the principal amount of this liabilityis.......... 256,050 Of the long term liabilities shown above, the responsibility for pay- ment of principal and interest charges has been assumed by others for a principal amount of................... (366,000) Net long term liabilities at the end wftheyear............c.ooovviiivninnnnnnn, $322,071 (b) Included in ""'Net long term liabilities" on the "Bal- ance Sheet" is an amount of $61,771 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, the liability would be increased by $11,346. 5. ACCUMULATED NET REVENUE (DEFICIT) AT THE END OF THE YEAR Rk The balance in the revenue fund at the year end is available to reduce (to be added to) the levies of the following classes of ratepayers. 1978 1977 General ratepayers. ..... $( 36,133) $(81,677) Designated ratepayers...... (874) 877 School board ratepayers.................. 2,664 (393) Region ratepayers.......... 11,311 15,785 $(23,032) $065,408) 6. CHARGES FOR NET LONG TERM LIABILITIES Total charges for the year for net long term liabilities were as follows: 1978 1977 Principal.................. $30,166 $25,403 Interest.................... 20,496 19,130 $50,662 $44,533 Of the total charges shown above $25,201 were paid from general municipal revenues of the municipality and are included in expenditure on the "Statement of Revenue and Expenditure" classified under the appro- priate functional headings. The remaining $25,461 were recovered from the municipal enterprise for which the related net long term liabilities were incurred and are not reflected in the statement. 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. The liability for these accumulated days, to the extent that they have vested and could be taken in cash by an employee on terminating, amounted to $57,309 at the end of the year. An amount of $32,000 has been provided for this past service liability and is in- cluded in reserves on the 'Balance Sheet". a the Board Room at the Municipal Offices, with 13 board members in atten- dance. We are pleased to welcome Mary Alice Tobin from Home Care, as a new member to our Advisory Board. We now have 20 members on our advisory board. Much discussion and planning was centred around Community Care's involve- ment at Western Weekend on August 9th, 10th, 11th, and 12th, and the two fall fairs at Blackstock and Port Perry. We'll be looking forward to seeing you at these events. Drop around to our booth for an update on Community Care's programme. With regret we accepted the resignation of Judy MacColl, as signing officer for Meals on Wheels. Judy is one of the originators of Meals on Wheels (M.O.W.) when it started in Port Perry seven years ago.We are in- debted to Judy for her 7 years of dedicated service to this invaluable programme. As of August 1st, 1979, M.O.W. will be a budget item on the Community Care budget, with Chairman of M.O.W., Del Willis, and Treasurer of Community Care, Barbara Carnegie, as signing officers. Our committee in charge of our Luncheon and Bake Sale on Thursday June 21st at the Latcham Centre, has' been busy organizing this, our first fund-raising pro- ject. Through the generous- ity of Vachon Inc., the butter 48th Annual School, for our participation in "Career Week'. For one week in May a student from the high school, took part in office activities at Commun- ity Care. It was with great appreci- ation that we accepted a $200.00 cheque from the Kinsmen Club to be used for our M.O.W. programme. Each year, for the past 3 years the Port Perry Kins- men Club have donated this $200.00 to be used for expens- es incurred by M.O.W., such as foil, food hampers, styro- foam cups and lids, etc. For this "On-going support to this programme we are deeply grateful. In the local co-ordinator's report for the month of May, we learned that 164 people are being served by Com- munity Care in Scugog; 231 M.O.W. were delivered; our volunteers did 127 additional assignments; and we have 138 registered volunteers working for us. We need more men volunteers in our Community Care pro- gramme, those who would assist with odd jobs around the home and those who would provide transporta- tion for other men. To honour our Seniors, Community Care will have a display in Brock's window during Senior Citizens' Week, June 17th to 23rd. Look for us there! Don't forget our Luncheon and Bake Sale, this Thurs- day, June 21st, between the hours of 11A.M. and 2 P.M. | Lunch at the Lake with Community Care! Gerrow family hold reunion The 48th annual Gerrow Reunion was held at Nestle- ton Community Park on Saturday, June 16, 1979. The weather was perfect and despite a smaller atten- dance, everyone enjoyed themselves. The Sports Committee, under the able supervision of Lorne Thompson and Bill Robinson (with his loud speaker system) gave every- one from the oldest to the youngest a chance to partici- pate. Dinner began at 6 p.m. with a bountiful buffet table tastefully arranged by Lillian Ross and Ivah Fralick. Our President, Mrs. Phyllis Thompson conducted a short business meeting and for all who did not attend, our 49th reunion will be held at the same place, Nestleton, on Saturday, June 14, 1980. Mr. Maunsell Gerrow brought us up to date on the preparation of our Family Tree and it is hoped that this will be completed sometime in the near future. The ground work has already been done on this and it is only a matter of bringing it up to date. Our oldest member present was Maunsell Gerrow and our youngest relative was Kingsley Malcolm. Greetings were received from Glen and Edith Rouse, Red Deer, Alberta and Hector and Evengeline VanNest from Rimbey, Alberta. They had hoped to join us this year but unfor- seen circumstances preven- ted this. After dinner everyone joined in Bingo with Jim and Jan Gerrow in charge. Following this a dance was held presided over by Bill Robinson and his music. Our new Executive for 1980 is: President - Mrs. Inez Maundrell; Vice President - Jim Gerrow; Secretary- Treasurer Mrs. Gwen Malcolm; and along with their committees will be working hard for another successful reunion, so let all our relatives give them their support and attend in 1980.