return
FATUM & FATUM
Accredited Public Accountents
410 St. Andrew St. W., Fergus, Ont.

January 22, 1968

The Members,

Westminster-St. Peul's Presbyterian Church,
206 Victorie Rd. North,

Guelph, Onterio.

We heve exemined the books end records of Westminster-St. Peul's
Presbyterian Church for the year ended December 31, 1967, end in con-
nection therewith have approved the accompenying stetements subject to
the following comments;

The veluetion of the fixed essets of the church heve been adjusted
to cost velues supplied to us by verious sources. It should be brought
to your ettention the essessed velue of the church property is $133,800.00
end the Mense property et $14,500.00 which is somewhat higher then cost
velues es shown.

The Life end Glory mortgege receiveble hes been adjusted to the
ectuel belance in eccordence with the emortization schedule calculeted
to the peyout dete of August 1, 1969.

4 stetement from the Pension Fund of the Presbyterien Church in
Ceneda indicetes e liebility for the yeer 1967 of $27.78, with en accu-
muleted liability to the end of 1967 of $1,426.88. This liebility is
net included in the church stetements.

Respectfully submitted,

Fetum & Fatum,

G. W. Fetum
Stetement_of Assets end Liebilities es et December 31, 1967
ASSETS K
Mission Fund $ 1.00
Sevings Account 40.09 «
Buildings: Church at cost 105,319.00
Mense et cost including lend 14,000.00 /
Lend: Church lend including extra lots at cost oe [oreee e
Life & Glory Mortgage 1,650.67 +~
Church Furnishings 10,924.00
Prepeid Taxes on Manse 225.37
$145,175.13
LIzBILITIES
Benk - Generel Account $198.94
Less cheques in transit T1794
$ — 579.00 ¥
Loens peyeble - Benk 8,500.00 ~
- St, Andrew's Church 2,650.00”
- Benk Demend 2,500.00
Mortgeges peyeble - Manse 3,847.62%
= Synod 46 5500.00 /

Net Worth December 31, 1967 Awe $145,175.13

return