Sacramento daily record-union., 1881-09-30
.nvgnr.ssaarr nENrIoE
LOCAL IHTELLIGENGE.
coUEry FRANCES.

EDS. RECORD UNION: a statement ap-
pearsd in the RECORD UNION yesterday, pre-
senting the finances of the county. There Is
NJ ii accuracy IN the figures used. The
amount of the floating indebtedness is as was
stated in the report. The statement was,
however, inaccurate in two respects. First,
an inference is conveyed that the rate of 81 so
IS county taxation for the coming year would
not more than meet current expenses. The
statement made by me to your reporter was
that 81 so would discharge the floating in
dsbtsdnsss and meet the current expenses.
You represent the entire amount Of S68, 500
The aeating indebtedness-to be drawing in
tsrest at the rate of seven per cent, which ia
inaccurate, inasmuch as only the registered
portion of the floating Indebtedness bears ia
terest. I reproduce the statement previously
furnished, with some additional comments
concerning the management OF the county
finances:
Funded debt all contracted previous to 1873:
Bonds Of 1850 s263 800 Interest at Y ct sl5. .7gs
c. I. r, r. bonds. II 500 Interest at q ct. 6,20C
Hospital siuking
and interest. :; 7o,ooo Interest at 3 Ct. e.o8c
Jail........... $1,000 Interest at 8 q ct. 4,Ool
Of lg72 -. 100000 Interest at S q ct. 1896
Total funded debtseso 800 Annual interest si9,07:
Floating at present:
General fund. SIS 300
Amount necessary 70 end OF year r........ 10000
81, 500
Hospital fand. ....................s1 $4,000
Amount necessary TO end Of YEAR. 5.O1O $4,000
Total floating debt lend Of year, siS,5 800
Interest on same is Z per cent. per annum
The county mas paid for the purchase of
bridges and for repairing same $50, 600. and
has paid on account of Hall of Records
S2l 900, aud for Improvements of hospital
about Sc, 600.
Last year there was transferred from the
sinking fund 70 the general fund S23, 600,
which was paid back this spring; it was
mostly used to pay for bridges and repairs.
This year there was transferred from the
sinking ssd swaInp land funds to the general
fund 1900, which Will have to be there
eight years. IF, therefore, we can repay the
floating debt (Which has been mostly created
during the last two years) by an average levy
OF L523 per cent. il Is very evident that the
usual county expenses of every nature will
have been about $50, coo less per year for the
two years than they were for the previous
eight ysaIs.
In other worcs the county, by the usual
average tax levy. hiss become possessed of
property to the amount of the above figures,
most Of which was purchased by the Board
at the earnest request of the citizens of the
city and county, both personally and by Pc
titions.
Tho expenses OF the County Hospital are
yearly increasing, there being over one third
more patients now than formerly, which viii
account fcr An increase of expense for that
item. Respectfully yours,
W. E GERBER, County Auditor.
In Tie foregoing the Auditor corrects two
minor errors, but confirms all essential state
ments. The Auditor says that if there are
no unIcoked.for incidentals. the rate nexi
year viii be 81 %, etc. In his estimate OF
future expenses, which gives 81 so as the
lowest possible rate thai viii raiss sufficient
revenue to discharge existing obligations and
msst the current expenses of couHty govern
m sat, tie Auditor has omitted altogether the
costs of litigation just entered upon by the
county. The liabilities which foEm the basis
of the rate of taxation for this year are as
follows: