The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-03-13

penditures for objects not now authorized
by the Council, or which are not regular
annual expenditures. All other appropri-
ations must be added to the auditors es-
innate. The experience Of the past has
shown that the expenses Of the city al
most always exceed the estimates. The
sum of S39, ,5s3. rs due for back interest is
not included in the auditors estimate of
disbursements. His statement of the
amount due for arrearage Of interest Is far
below the amount stated by the Chamber
lain, which he estimates at or about
100000. 1.-THE committeereported that the
books Of the auditor were examined,
but they were found to be SO badly kept
that they the committee) could not de-
termine which officers statement is cor
rect.l The committee state that to take
either estimate there will be large def
cit, which must be raised by taxation or
otherwise that it cannot be done, as in
former years, by selling the bonds of the
city or by making temporary loans. The
former mode would result in great sacri-
flce and tend to impair the credit Of the
city, and money cannot be obtained by the
latter mode.
amount of the city debt on the 1st Of Feb
ruary, 1867, was 50, 2,O77,O42.72. Under the
provisions Of the charter we have to set
apart sinking fund of at least one per
cent. beyond the annual interest on the
debt, which will amount to $20,7s0.42.
There is due this year Sol ,066.67 of the
funded debt, which will have to be either
paid or renewed. The committee do not
think that the city government can be car
ried on with less expense than that of last
year, unless the Council will determine to
curtail the expenses of every department,
and make no appropriations unless absolute
ly necessary. The fiscal year commenced
with cash balance of SSs, ,564 62, and closed
with balance of S12 ,437 ga. There has been
collected and paid into the treasury from
assessed taxes 1868, ,106.2S, and s34,903.62
collected from the taxes uncollected Of
1865, making in the aggregate S29S, S,009.90.
There remained at the close Of the year a
balance only of sl2,43764 with which to
commence the present year. If the same
amount should be necessary to carry on
the city government, and the same amount
required to be raised from other sources
this year as was necessary for last year,
s76, 1868 more will have to be raised by
taxation the present year than was re-
quired last year, that amount being the
difference between the cash balance on
hand on the 31st day of January, 1866, and
the cash on hand 3lst of January, 1867.
The real estate books of the assessor
were examined, and the committee found
the assessed value of real estate for the
present to be $2O,7O7,277. The assessed
value last year was SIG, ,707, ,277-making a
difference of sl,0O0,OO0.
The price Of $l.20 charged last year on
every 500 value will make the sum raised
on real estate the present year $4,000
more than was raised last year.
The sum of $l30,27S.20 was raised the
past year from personal property, mer-
chants licenses, &c. From the best infor-
nation the committee can obtain, they
think that less amount will be raised
this year from personal property, licenses,
etc.
The funded debt of the city amounted to
SPOTS ,042.72 on the 1st day of February,
1867, with no back debts and only small
amount of outstanding bills. Ten years
past, 1856, the funded debt Of the city was
$4,000, 1928 This shows the present debt
to be only 7,SS2.34 more than it was ten
years ago. At that period the city owed a
bank debt of S69, ,O49.65, and open accounts
amounting to about sll 900. The property
owned by the city is worth one and half
million of dollars.
In conclusion, the committee announce
that they are happy to state, that although
the city treasury is at present scarce of
money, yet the financial condition is as
good as it has ever been.