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To The Waterioos County Board of Education: We have examined the following financial statements of The Waterloo County Board of Educaâ€" on for the year ended December 31, 1973: Revenue Fund Stutement of Revenue and Expenditure Copital Pund Stautement of Investment in Fixed Assets Stautement of Source and Application of Capital Funds Reserve Fund Statement of Receipts and Paoyments Current Assets â€" Cash and shortâ€"term ts :.:. Deposits for tuture e purchases Accounts receivable Municipalitiesâ€"under | requisitions Other school boards ........... Government of Ontario .......... Government of Canada .......... Current Liabilitiesâ€" Net Deficitsâ€"predecessor school boards January 1, 1969 (note 2) NET OVER REQUISITION 1. INYVENTORIESâ€"inventories of school and custodia! mllfl in warehouses as at December 31, 1973 amounted to 435 "~ (1972 â€" $242,812). These have not been included in the assets because there is no authority to defer such expenditures. ... 2. DEFICITS AND SURPLUSESâ€"The Board of Arbitrators‘ adâ€" 'udm«m in the amount of $341,515 with n?«f to capital tems have been provided for in the accounts. $313,346 has BALANCE â€" BEGINNING OF YEAR .. REVENUE Local taxation Supplementary and other faxes ......................... Government of Ontario General legislative grants .............,.....02.....0.00 Education mill r&IGE SUDSIGY ............;ccscrsesrurce0s Other revenues oible e ies en eren on en e e aele en n e n e e anaa n n aoea s Government Of C@NBO® .....:.......c.ccisrsicscrisravarses Other _ revenues â€" n e en n en e en n e en e d e Transfer of excess debenture funds from the capital fund Transfefr fFOM FESEFWEE .....;......00.scccooorreatensrracrnes EXPENDITURE . Business administration oooe COMpUIET SEFVICES .. ::=s«somsuscncrccnes Instruction Instructional administration .......... School office administration .. Day _ school R e Special and adult education ; Fringe benefits and other expenses Education services Audzmviwll ; pevievas Gul e and counselling .... . BALANCE â€" END OF YEAR REPRESENTED BY: Educational _ Television Future Site Purchases Due from trust funds Due from other ftunds Prepaid expenses Accounts payable Trade accounts payable and accrued liabilities Municipalitiesâ€"over requisitions .............. Due to other funds ..... .. Deferred income ........... Receipts Transfer from Revenue Fund c n onties Dote June 27, 1974, A. H. Turner, Chairman of the Board Date June 27, 1974, R. A. Cruickshank, Director of Education P:{chologlcal Fringe benefits and other expenses Attendance, health and food services Plant operations . . Plant maintenance . a . Transportation Tuition fees Capital expenditures (nonâ€"allocable) Other oponnn? expenditures NMakt rharna« {inrincinal and interest) Debt chu?os (principal and interest) Nonâ€"operating expenditures Local taxation writeâ€"offs Transter to reserves . Interest ransfer to Revenue Fund Library THE WATERLOO COUNTY BOARD OF E TION RESERVE FUND STATEMENT OF RECEIPTS A AYM FOR THE YEAR ENDED DECEMBER 31, 3 FINANCIAL STATEMENTS AVUVDITORS‘ REPORT THE WATERLOO COUNTY BOARD OF EDUCATION REVENUE FUND STATEMENT OF REVENUE AND EXPENDITURE FOR THE YEAR ENDED DECEMBER 31, 1973 LIABILITIES AND EQUITY THE WATERLOO COUNTY BOARD OF EDUCATION NOTES TO FINANCIAL STATEMENTS FOR THE WATERLOO COUNTY BOARD OF EDUCATION BALANCE SHEET AS AT ...... 104,683 AYMENTS The Waterloo County Board of Education 122,923 122,923 122,923 121,259 18,240 10,000 been distributed in 1973 with the remaining $28,169 due to boards outside the county to be distributed in 1974. 3. ADJUSTMENT OF PRIOR YEBARSâ€"As a result of changes in grant calculations applicable to prior year, the Iunu available were increased by $6,348 for Og year 1972. As a result the amounts required through local levy for those years decreased For the Year Ended December 31, 1973 by equivalent amounts. The comparative figures for 1972 and 127,401 133,519 104,683 104,683 103,019 ‘o 6,118 6,118 25,764,865 11,384,829 348,845 58,958 13,576,527 105,841 24,862 23,340 217,046 24,617 24,778,003 434,327 51,665 1,099,682 292,661 13,899,958 817,640 199,785 31,298 241,418 81,313 44,786 48,151 2,196,225 710,839 788,809 ’o/ $4,265 32,045 2,848,221 252,767 90,779 4) 1973 986,862 (note 4) Elementary 4A 23,261,754 10,374,181 271,663 50,605 12,436,523 4,959 14,368 8,867 23,068,785 1,083,099 244,494 12,666,439 7,472 328,096 123,789 2,498,532 274,682 206,948 178,098 29,755 250,471 $3,994 40,250 43,031 1,966,045 617,482 735,043 192,969 86,087 34,073 7,308,026 7,388,026 2,236,625 5,200,527 121,259 7,308,026 1,616,146 5.139 11777 3,274,784 1,866,138 31,997 2,000,000 5,356,029 196,915 Kitchener, Ontario May 10, 1974 year. Our examination included a general review of the accounting procedures and such tests of uccounting records and other supporting evidence as we considered necessary in the circumstances. in our opinion the accompanying financial stotements present foirly the financial position of the Board as at December 31, 1973 and the reswits of its operations and the source and applicaâ€" tion of its capital funds for the year then ended, in accordance with accounting principles genâ€" erally accepted for Ontario School Boards applied on a basis consistent with that of the preceding 14,555 15,731 Revenue Fund sOURCE OF CAPITAL FUNDs Debentures issued ...........................!. Government of Ontario grants ................ Capital expenditures from revenue funds .... APPLICATION OF CAPITAL FUNDs Fix@d _ @SS@f$ | ..... ..2.2...2.2220022 22222222222 l Transfer of excess debenture funds to revenue fund DECREASE (INCREASE) IN CAPITAL FUNDS â€"â€" FOR _THE _ YEAR ......l.....202lll 2s BALANCE NOT PERMANENTLY FINANCED â€" BEGINNING OF YEAR |....<...sslcscccrscskces BALANCE NOT PERMANENTLY FINANCED â€" END OF YEAR .........2.2.222.22222222222 222000 C INVESTMENT IM_FIXED ASSETS â€" BEGINNING OF YEAR .... 60,746,219 Debenture MB )n 2e csuvl en arera s no o riaa op se n ave ahie n‘ ns s ns . APzPg® Capital ex; res from revenue funds ....................... 383,606° Government fario GFraNts ..................222.22222222.2... 351,143 Transfer of excess debenture funds to the revenue fund INVESTMENT IN FIXED ASSETS â€" END OF YEAR .... Per Pupil 27 14 10 415 24 15 4,670,196 4,723,067 77496 280,093 187,632 2,914,472 13,934 107,377 3,213,189 334.815 19,942 4,723,067 122,923 3,581,404 3,567,946 103.019 26,952 3,697.917 1,025,150 o s §19,510 1972 THE WATERLOO COUNTY BOARD OF EDUCATION STATEMENT OF SOURCE AND APPLICATION OF CAPITAL FUNDS FOR THE YEAR ENDED DECEMBER 31, 1973 _ 15,986 52,071 THE WATERLOO COUNTY BOARD OF EDUCATION ITAL FUND STATEMENT OF INYVESTMENT IN FIXED ASSETS FOR THE YEAR ENDED DECEMBER 31, 1973 S P YEAR ENDED DECEMBER 31, 1973 24,096,165 22,624,461 1,432 10,488,218 318,283 803,727 11,905,696 109,707 5,576 85,463 311,973 67,522 505,856 629,826 13,086,979 $80,505 840,473 205,981 18,999 23,216,889 22,560,511 1,380 1,363 218,308 1,997,102 612,251 514,710 (6,459) 13,405 76,506 2,146,323 139,503 1973 405,621 §79,276 510,000 122,923 122,923 122,923 121,259 the balance of over requisition (under requisition) as at December 31, 1972 are restated to reflect these adjustments . COMPARATIVE FIGURESâ€"Comparative figures Included for 1972 have been reâ€"arranged in certain Instances to conform with the \1973 presentation as well as to reflect the prior period adjustments referred to in note 3. (note 4) Keserve Fund 11,613,089 17,238 32,996 52,944 275,450 421,549 611,216 12,790,527 783,0892 796,145 189,632 17,377 136,101 Secondary 9,448,053 252,093 36,575 220,039 1,869,141 466,696 462,298 12,496 200,929 122,180 2,106,281 126133 172,936 410,150 Coopers & Lybrand Chartered Accountants Per Pupil 1973 197 623 19 13 N9 128 104,683 24 104,683 96,956,681 104,683 96,956,681 19 37 103,019 104,683 96,956,68t 31 12 1972 14 N3 127 15 17 26 37 28 1 12 10 12 64,180,538 32,545,516 .. 64,180,538 216,072 216,072 (1,083,795) 1,314,421 3,964,250 2,880,455 3,229,500 351,143 92139 25,402,223 215,548 49,861,030 ,139 21,073040 667,128 839,948 125,343 1,605,538 922487 26,986,937 980,505 1,658,113 405,766 ~50,197 47,994,892 4,193,327 137,375 4,994, 544 392,270 1,323,090 1,303,519 1,010,000 1,866,138 Capital Fund 529 019 92,139 Totat 60,746,219 94,168,365 32,107,725 60,746,219 94,168,365 55,167,742 60,746,219 94,160,365 19,862,234 524,536 917,403 24,049,612 4,959 31,606 41,863 45,886,215 ©54,210 25,456,966 783,092 1,525,448 367,730 n 5,182,479 1314421 _ 199,124 2,226,7122 5,182,479 1,314,421 1,201,000 2,226,122 799,124 1,504,648 76825 271,070 3,035,186 1,084,178 1,197,341 19,968 $29,025 245,969 4,604,813 400,815 379,884 1,000,000 1972 794,911 794,911 519,510 361,537 256,919 4)