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PAGE 14 TERRACE BAY NEWS AUGUST 23, 1972 AUDITOR'S REPORT TO THE SCHREIBER-TERRACE BAY DISTRICT ROMAN CATHOLIC SEPARATE SCHOOL BOARD* We have examined the Balance Sheet of the Schreiber-Terrace Bay District Roman Catholic Separate School Board as at December 31, 1971 and the Statements of Revenue Fund-Revenue and Expenditure, Revised Net Requirement 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 af December 31, 1971 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. Thunder Bay, Ontario, "GLENDINNING, JARRETT, GOULD & CO." May 12, 1972, Chartered Accountants Licence No. 4131 SCHREIBER-TERRACE BAY DISTRICT ROMAN CATHOLIC SEPARATE SCHOOL BOARD BALANCE SHEET AS AT DECEMBER 31, 1971 ASSETS Revenue Capital Reserve Fund Fund Fund CURRENT ASSETS Cash 620 7,800 Accounts Receivable Municipalities Under-Requisitions (Elementary) 1,883 Supplementary Taxes, Etc. 84 Government of Ontario 3,472 Others 100 Due From Other Funds Capital 60 Prepaid Expenses 1.737 TOTAL CURRENT ASSETS 7,956 7,800 NON-CURRENT ASSETS Fixed Assets Buildings - at amount of insurance coverage 528,000 Furniture and Equipment - at amount of insurance coverage 80,000 Projects in Progress 60 Other - Teacher's Residence 10,000 cont'd next page ...... FE TS Teo. Esty ET = Cana a Ne TIP eS i hs SR