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‘ =e om "0 :
WESTMINSTER=ST. PAUL'S PRESBYTERIAN CHURCH | 4 |
; _* BALANCE: SHEET iP. b
SAS"AT DECEMBER 31, 1977°~ §
ae nee (with comparative figures for 1976) 4!
Sayre av7 176"
Current assets
Bank $ 1,146 §° "ST
Current liabilities : 5
“Lean —Ws-Wright 1,500°28"" &
Accounts payable 155 pera
Working capital surplus (deficit) (50?) ___ oie
Fixed assets - at cost aS
land 13,015... 13,015
Buildings 119,319- 119,319:-
Furnishings — 12,489. _. 12,112
14h 3823 UA ALG
—term liabilities
Mortgage payable (note 2) 7,500 12,500
137.323 _131,946
Members’ equity (note 1) $136,814 $132,034
: NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1977
1>> Members? equity ‘ a
Balance — beginning of year $132,034 $127,019
Add: Equipment purchased 377 -
oat Excess (deficit) of revenue over
expenditure ( 597) 515
Principal payments on mortgage _ 22000 = __ 4,500
Balance — end of year . 136,814 $132,034
2. Mortgage ble
The CE mortgage is payable to the National Trust Company Limited in
quarterly instalments plus interest as follows:
_ Feb, 1978 to May 1979 (6 @ $1,250) $_7.500
3. Insurande
Insurance coverage is as follows:
-. =. Ghurch. premises
- boiler $7.00,000
- building and contents 211,000
: - theft 1,000
- liability 100,000
Manse (John Sutherland?s)
~ building : 10,000
- lability 250

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