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September 15, 1966 TERRACE BAY NEWS Page 9 AUDITOR'S REPORT - PAGE 2 Recreation Committee There is no effective internal control on sales from vending machines. Revenues from this source have, theré- fore, therefore, been verified only at the amounts for which receipts have been issued by the secretary--treasurer tee. of the Committee. We heave been advised that several pop cooler vending machines are being purchased on a lease-purchase agree- ment. As the lease-purchase agreements could not be made available for our examination, and as no record has been maintained of the cost of this equipment, we have been unable to determine the balance owing on this equipment at December 31, 1965. Recreation Snack Ber Since no inventory of merchandise on hand was taken at December 31, 1965, the valuation of this merchandise shown on the attached balance sheet is an estimated amount only, provided by your manager. Verification by us of this inventory at December 31, is considered impractical. The separate recording of revemmes from the lunch counter and smoke shop was discontinued from December 24, 1965. This division of income for the remaining portion of the year is included in the respective totals of sales at estimated amounts only. Commissions on juke box eollections, which were included in lunch counter sales during the year, have been set out separately on the atteched statement at a total amount estimated by our manager. There is no effective internal control on snack bar receipts. Auditor's Opinion We report that, in our opinion, subject to the applicable comments above, the financial transcations which have come under our notice have been within the powers of the mmicipality, the audit has been conducted in ac- cordance with the instructions of the Department of Municipal Affairs, and the attached statements present fairly the financial position of the Municipality and its related Boards and Commissions as at December 31, 1965, and the results of the operations for the year ended on that date. (Signed) Crawford, Reedhead & Co., CHARTERED ACCOUNTANTS. The new Chevrolet Camaro, available as a 2-door sport coupe or 2-door convertible. A wide variety of distinctive eappear- ance and equipment options permit "personalizing" to the in- dividual taset--such as the SS 350 option which creates the Super Sport coupe (above) which combines distinguished appear- ance with an exclusive Turbo Fire 350-cu.in., 295-hp V8 engine with 4-barrell carbuertion & heavy duty chassis components. A choice of five power plants, ranging from a 140-hp Six to the 295-hp V8 is available with Camaro. Camaro also incor- porates outstanding new safety features standard on all 1967 Chevrolets such as the energy-absorbing steering column which telescopes up to 8t inches. The Camaro's sweeping style re- flects the all-new look apparent throughout the reguler 1967 Chevrolet line which, with 17 models in five series, offers a diversity of models never before achieved in the auto industry The 1967 reguler Chevrolet line, with 17 models in five series, offers a diversity of choice. The 1967 Chevrolets, well-represented by the sleek Impala sports coupe (above) retain their luxury car proportions along with an elegant new look. Front fenders, hood grille, lower body side panels, rear quarter and rear fenders have new styling. They also offer new interior luxury, new trim styling, fab rics and colors. New safety features are standard on all models and many important chassis and power train ref ine- ments will result in a smoother, quieter ride in 1967 Chevrolets. This year Chevrolet offers a choice of sixteen power teams, ranging from a 155-hp six to a 385-hp V8. More of Gemeral Motors new cars are shown elsewhere in this issue.