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

THE MUNICIPALITY OF THE TOWNSHIP OF SCHREIBER 2 HYDRO-ELECTRIC COMMISSION BALANCE SHEET DECEMBER 31, 1973 (with comparative figures at December 31, 1972) ASSETS LIABILITIES AND CAPITAL 1973 1972 1973 41972 Rovenue -agsets: Cash 5 $ 21,813 $ 7,766 Accounts payable . $12,075 $11,952 Accounts receivable 3,561 2,315 [aventory of supplies, at cost 762 944 Reserve for equity in Hydro-Electric Power Prupaid expenses 431 Commission of Ontario 153,788 143,386 ' Total revenue assets ' 26,569 11,025 Capital: Debentures redeemed 50,000 50,000 Capital assets: Buildings y y 8,542 i. 8,542 Contributed capital (note 1) 8,497 Transmission and distribution system 251,669 240,997 Equipment 14,653 16,733 Earned surplus Balance at beginning of year 115,273 121,608 - 274,864 266,272 Earnings (loss) for year 7,388 (6,335) Less accumulated depreciation 108,200 100,072 ¥ Balance at end of year 122,661 115,273 166,664 166,200 Total capital 181,158 165,273 Equity in Hydro-Electric Power Commission of Ontario 153,788 143,386 $347,021 $320,611 i $347,021 $320,611 (See accompanying note) Statement 2 0 £ "4 THE MUNICIPALITY OF THE TOWNSHIP OF SCHREIBER Clarkson, Gordon Co. St. John's Halifax Saint John Quechee § ih ¥ Ottawa Toronto Hamilton Kitchener | HYDRO- ELECTRIC COMMISSION Clinton Fepmtonts | mi Arthur Young, Clark: on, Guna Gaal STATEMENT OF OPERATING bi : ites States vart o Thunder Bay (P), Canada. Telephone 345-4417 (Arca Code: y | YEAR ENDED DECEMBER 31, 1973 PIA 413 Cr CTI (with comparative figures for the year 1972) . ; 1973 1972 AUDITORS' REPORT i Gross earnings: Residential services $100,015 $ 86,070 Commercial services 66,560 55,112 Hydro-Electric Commission of the Street lighting 9,642 6,901 Township of Schreiber. A Interest earned 385 397 a Pole rental 689 689 i Sundry revenue 820 833 We have examined the balance sheet of the Hydro-Electric % . Ar 178,111 150,002 Commission of the Township of Schreiber as at December 31, 1973 and the ¢ 2 Less expenses: - statement of operating for the year then ended. Our examination included Operating - d y Distribution system - operation and maintenance 7,715 5,839 a general review of the accounting procedures and such tests of accountin Line transformer maintenance 648 395 § Meter maintenance 1,461 + 1,788 records and other supporting evidence as we considered necessary in the™ 8 Power purchased 131,481 115,705 ! Street lighting - operation and maintenance 1,877 2,213 circumstances. ; Depreciation 8,871 8,250 3 In our opinion these financial statements present fairly tl 152,053 134,190 financial position of the Commission at December 31, 1973 and the results Administrative - 4 Customers' billing and collection 10,430 11,499 of its opérations for the year then ended, in accordance with generally Office and general _8,240 10,648 accepted accounting principles applied on a basis consistent with that of § 18,670 22,147 the preceding year. i Total expense 170,723 156,337 Earnings (loss) for year ' $ 7,388 $ (6,335) : (See accompanying note) a3 " cw ZCI. 3 Thunder Bay, Ontario, ; i April 4, 1974. Chartered Accountants. THE MUNICIPALITY OF THE TOWNSHIP OF SCHREIBER 1. Contributed capital i HYDRO-ELECTRIC COMMISSION The contributed capital represents the portion of street NOTE TO FINANCIAL STATEMENTS lighting capital costs provided by the Ministry of 1 DECEMBER 31, 1973 y Transportation and Communications.