|
|
|
|
|
|
 |
| As
at December 31, 2002 |
| |
|
2002
|
2001
|
|
|
| |
|
$
|
$
|
 |
|
|
|
| Investments
– at amortized cost (Note 1) |
|
1,099,387
|
20,739,877
|
| Due
from Region |
|
62
|
16,826
|
|
|
| Total
Assets |
|
1,099,449
|
20,756,703
|
|
|
| |
|
|
|
 |
|
|
|
| Actuarial requirement
for retirement of the Sinking Fund (Note 2) |
|
1,075,052
|
19,813,562
|
| Due
to Region |
|
2,411
|
6,004
|
| Fund
balance |
|
21,986
|
937,137
|
|
|
| Total
Liabilities and Fund Position |
|
1,099,449
|
20,756,703
|
|
|
| |
 |
| For
the year ended December 31, 2002 |
| |
Budget
|
|
|
| |
(Unaudited)
|
2002
|
2001
|
|
|
| |
$
|
$
|
$
|
| |
|
|
|
 |
|
|
|
| Contributions
from: |
|
|
|
| Area
Municipalities |
900,059
|
900,058
|
3,645,706
|
| District
School Board |
898,513
|
898,513
|
3,342,262
|
| Regional
Corporation |
2,549,731
|
2,549,731
|
2,767,851
|
|
|
| Total
contributions |
4,348,303
|
4,348,302
|
9,755,819
|
|
|
| Supplementary
payments-On behalf of |
|
|
|
| Area
Municipalities |
23,260
|
21,969
|
96,367
|
| Supplementary
payment-Regional Corporation |
132,295
|
131,175
|
153,364
|
| Interest
earned |
267,600
|
271,892
|
2,386,809
|
|
|
| Total
revenues |
4,771,458
|
4,773,338
|
12,392,359
|
|
|
| |
|
|
|
 |
|
|
|
| Actuarial
requirement for the year |
(4,847,490)
|
(4,847,489)
|
(12,512,450)
|
| Payments
to Area Municipalities |
(46,000)
|
(46,000)
|
(6,004)
|
| Payments
to District School Board |
(795,000)
|
(795,000)
|
0
|
|
|
| Change
in Fund Balance |
(917,032)
|
(915,151)
|
(126,095)
|
| Opening
Fund Balance |
937,137
|
937,137
|
1,063,232
|
|
|
| Closing
Fund Balance |
20,105
|
21,986
|
937,137
|
|
|
| The
accompanying notes are an integral part of these Financial Statements. |
|
|
|
|
|
 |
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