|
|
|
|
|
|
 |
| As at December
31, 2003 |
|
|
|
2003
|
2002
|
|
|
$
|
$
|
|
|
|
 |
|
|
| Investments –
at amortized cost (Note 1) |
1,266,500
|
1,099,387
|
| Due from Region |
27
|
62
|
|
| Total
Assets |
1,266,527
|
1,099,449
|
|
|
|
|
 |
|
|
Actuarial requirement
for retirement of the Sinking Fund
(Note 2) |
1,235,559
|
1,075,052
|
| Due to Region |
0
|
2,411
|
| Fund balance |
30,968
|
21,986
|
|
| Total
Liabilities and Fund Position |
1,266,527
|
1,099,449
|
|
 |
| For
the year ended December 31, 2003 |
|
Budget
|
2003
|
2002
|
|
(Unaudited)
|
|
|
|
|
$
|
$
|
$
|
 |
|
|
|
| Contributions
from: |
|
|
|
| Area
Municipalities |
104,968
|
104,968
|
900,058
|
| District
School Board |
0
|
0
|
898,513
|
| Regional
Corporation |
0
|
0
|
2,549,731
|
|
| Total
contributions |
104,968
|
104,968
|
4,348,302
|
|
Supplementary
payments-On behalf of
Area Municipalities |
0
|
0
|
21,969
|
| Supplementary
payment-Regional Corporation |
0
|
0
|
131,175
|
| Interest
earned |
72,217
|
72,217
|
271,892
|
|
| Total
revenues |
177,185
|
177,185
|
4,773,338
|
|
|
|
|
|
 |
|
|
|
| Actuarial
requirement for the year |
(160,507)
|
(160,507)
|
(4,847,489)
|
| Payments
to Area Municipalities |
(531)
|
(531)
|
(46,000)
|
| Payments
to District School Board |
(7,165)
|
(7,165)
|
(795,000)
|
|
| Change
in Fund Balance |
8,982
|
8,982
|
(915,151)
|
| Opening
Fund Balance |
21,986
|
21,986
|
937,137
|
|
| Closing
Fund Balance |
30,968
|
30,968
|
21,986
|
|
| The
accompanying notes are an integral part of these Financial Statements. |
| |
|
|
|
|
|
 |
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