The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1871-01-25
The Stnle Finnnces.

The report of Auditor BoGGEss, exhib.
iting the State finances for the fiscal year
ending September 80, 1870, has been plac-
ed in our hands by the State printer. The
document Is larger in bulk and more de.
tailed and satisfactory than any previous
report from that office.
At the beginning of the fiscal year,
here exhibited, the State treasury held u
balance of $7G,G54 but the general treas.
ury owed the distributable school fund
$07,440 40, and the permanent school
fund $11 600 50, Or both $lOO,137 32; SO
that there was really deficit to begin the
year with of $32, 4s3 IS, due to excessive
appropriations by the legislature,
The receipts from all sources during
the ycar-irom State tax, school tax, Il.
cense tax, fines, interest on permanent
school fund, &C., were $5GE33l II. OF
these receipts $2O7,O1G 81 belonged to the
listributable school fund, and $35,s7O IS
to the permanent school fund, or SEAS, S53-
10 to both. Add 10 this the sum due these
funds from the general treasury at the
beginning of the year, and We have the
total resource Of the general treasury for
the year only $9OO,04s 81 Gust about
the amount raised in this city Tor munich
pal purposes during 1870. At the close
Of the year the general treasury was in
debted to the school funds $GO,59S "a,
showing a deficit of that amount, and in
crease in the deficit during the year Of
$2s,045 10, and a total expenditure by the
general treasury Of 1851 5l2 9l-which,
we may remark, is only some sixty thou
sand dollars more than the expenditures
Of this city tor the year 1870 for munich
pal purposes.
The condition Of the School Funds is
satisfactory. Tho balance Of the distri'
butable fund at the end Of the year was
$24s,3sS %. The presence Of so large
balance ut that time is due TO the fact that
although the apportionment was made
Sept. LIST, the money had not been drawn
out by the counties when the year closed
amonth later. The sum apportioned was
$233, 143 OF.
The permanent school fund.- Of which
tho interest only can be applied To schools,
consists of investments the par value Of
which is $229, 800, and of an uninyestcd
balance due from the general treasury Of
$255GO II. OF the invested fund $13Sy 800
is held in bank stocks Qn direct violation Of
an explicit requirement Of the State Con-
stitutlon) This stock isat present worth
about $l4S,sOO. Seventy.two thousand
more Is in the United States subsidy
bonds Of the Central and Union Pacific
Railroads, now worth about $4,000.
Tho rest Is in Five Twcnties, now worth
about $s0,400. SO that the present value
Of invested fund is, say, sls,1OO. Add to
this the uninScsted balance $95,5O0 II,
and we have total OF s973,GGO II. The
interest on the invested fund during the
year was $eO,55s Oa. On the uninvcsted
balance the State pays the fund six per
cent
For the current year the auditor csti'
mates that the receipts from all sources
will bcSOOO,37O, and the charges upon the
treasury will be $5sO,9OIsO, leaving at
the end of the year a balance In the trpa-
sury Of $O63sl.9O, In these estimates he
is governed by the per cent. realized the
past year from tho various sources of rev.
enuc, compared with the assessments.
This balance will reimburse tho school
funds and leave balance In the treasury
Of $5,s5eGO.