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1968 JULY 11 TERRACE BAY NEWS PAGE 7 _ _AUDITOR'S REPORT To the Ratepayers of the Municipality of the Township of Schreiber. Port Arthur, Ontario, May 31, 1968 We have examined the balance sheets of the Municipality of the Township of Schreiber as at December 31, 1967 and the related statements of revenue and expenditure and revenue fund surplus for the year ended on thet date. 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. HIGH SCHOOL BOARD During the current year the Board expended $14,406.00 for furnishing and architects fees for a proposed addition to the High School. The prior approval of the Ontario Municipal Board wes not received and no information is available as to the method of obtaining permanent financing. Pending final settlement the expenditures are includ- ed in The Capital Fund Balance Sheet of the Board as projects in progress. In addition the Board purchased a teacher's residence at a cost of $11,800.00 of which $3,000.00 wes paid from unexpended capital funds and a mortgage of $8,800.00 assumed for the balance. monthly instalments of $90.00 including interest at 6% per annum. The mortgage is payable in No prior approval by the Ontario Municipal Board was given and no information is aveilable as to the source of funds required for the mortgage payments. Subject to the foregoing, we report that in our opinion, the financial transactions which have come under our notice have been within the powers of the municipality; the audit has been conducted in accordance with the instructions of the Department of Ifunicipal Affeirs; and the financial statements present fairly the financial position of the municipality as at December 31, 1967 and the results of its operations for the year ended on that date. Rune Ostling Retires - cont'd from front page a year. He spent the balance of the construction period as a Kimberly-Clark Millwright Foreman. At mill start-up in 1948 he was assigned to the Wood Handling Department as a foreman, a position he held until his retirement. Asked about the most interesting phases of his work since mill start-up, Rune immediately focused on the first year of Jackladder operation. At that time, a crew of Scandinavian workmen manned the Jacklad- der. They had previously worked on the Slate Islands, loading barges with pulp wood that had come down the Long Lake water-way. As Rune put it: "You just couldn't give those fellows enough work." The other major "highlight" was the recent switch over from blockpile to chip-pile. In recalling the early days, Rune counts among his accomplishments the effort expended in organiz- ing, along with Cliff Knauff, the first extablished Curling facilities. This was in late '47 and Rune was elected as the first President of the Terrace Bay Curling Club an office he was to fill on four separate occasions during the next 20 years. His last term as President covered the 1965-66 season. F.H. BLACK & CO. CHARTERED ACCOUNTANTS Rune's current hobbies include golf, fishing and hunting. Many will recall that in the early days at Terrace Bay, he was quite a baseball player. Other community interests through the years in- cluded the Masonic Lodge and the Community Church. Prior to coming to Terrace Bay, Rune had served his apprenticeship as a machinist. For 15 years he was a Canadian Pacific railroad fireman out of Kenora. He was also employed in construction and maintenance work at Pulp and Paper Mills in Fort Frances, Kenora and Fort William. Reflecting on the years spent in Terrace Bay since 1946 Rune had this to say: "Kimberly-Clark has been very good to me. They're the best firm | have ever worked for and I've worked for quite a few in my life. Terrace Bay has been good to me too, and I'm sorry to leave all the friends | have made here. When you need friends you surely do have then in this town. Elsie and | found that out during the difficulties we have had from time to time." Rune and Elsie plan to spend their retirement years in the Dryden area where they have a cottage We extend them both (Cont'd on page 10)