Savannah morning news. [volume] (Savannah) 1868-1887, 1884-03-03
$7O8,599 G6

In presenting the annual statement of cash
received and paid out by the Treasurer, it is
but proper to say that in order to fully un-
derstand the city's financial condition for the
past year, the report should be considered in
connection with a trial balance taken from
the citys ledger, and for the following rea-
sons:
The Accountant employed to examine the
books kept by Mr.. Jas. e. Cope, late CITY
Treasurer. deemed it proper to suggest that q
journal should be kept for making entries
which might not properly be considered as
belonging to the cash book, but which had
from necessity been forced through that hook
on account of the Treasurer not keeping any
other book OF entry. Following out his IDEAS
the Finance Committee thought it advisable
to start a journal, commencing same during
the month OF August, and consequently few
words of explanation are necessary to have
an understanding Of the differences in those
accounts where the cash statement and trial
balance do not agree. The journal entries af-
feet five principal accounts and they will be
considered in detail.
First. Jas f.. Cope, Late Citu TREASURER
The cash statement shows that Mr.. Cope was
indebted to the city, as shown by the cash book
when he turned it over, the sum of $2S, lO7 II.
Against this the city received IN cash and
collected on due bills and sundry accounts
which were turned over by him. the sum of
S2l,3O7 AZ. The amount paid the city, as per
terms OF compromise, 900 in cash, also APP
pears on the cash statement, and makes up
the cash receipts of S3l,9O7 AZ, while the trial
balance shows q credit Of $35,S35 49, the diff
ference-$4,527 73-being funds which Mr.
Cope had in the hands OF Eugene Kelly & Co
New York, for the purpose OF paying coupons,
charged up to Eugene Kelly & Co. on the
journal, credlting Mr.. Cope at the same time
and making his ledger credit $35,S35 Is as an
pears on the trial balance.
Second. Interest 4 ccOURt.-By the cash state
ment there was paid for the redemption of
new coupons at the Treasurer's Office SIl7-
55S IS, and by Eugene Kelly Il Co., in New
York, $35,73l so, making q total of 1883. 296 Is.
After opening the journal there was paid by
Eugene Kelly & Co., new coupons to the
amount Of 81, 230, and the same were entered
upon and posted from that book, making the
total amount of new coupons paid sI74526 25
as shown on trial balance. The difference
between interest account on the state
ment, and trial balance outside of coupons
is $l,7S0 10, which arises from entry on journal
of debit TO that account Of SIS 80 for interest
on over drafts and expenses, paying coupons
at New York and also for interest, 81, 694 &C. on
floating debt, both of which amounts were due
to Eugene Kelly & Co.
Third. Eugene KeIIv d CO.-The cash state
ment shows there was RENTED Eugene Kelly
& Co., to pay coupons, $74, 498 60. They were
also debited on the journal with the amount
of funds in their hands, turned over by Mr..
James K. Cope. late City Treasurer, as ex-
planned under that heading, $4,527 70, making
total debit of S79,O2l 80, as appears on trial
balance.
The credits on cash statement for coupons
paid were $50, 900, and for coupons paid since
August, entered on journal and explained
under interest account, were S2l ,230. and for
interest on over drafts and expenses Of paving
coupons entered on journal, SIS 40, making
total credit as shown by trial balance Of &c.,
535 40.
Fourth. Eugene Kelly d Co.. general ac-
coHnt.-The interest due on floating debt,
1854 6G, was credited to Eugene Kelly & Co.,
general account, and with some incidental
expenses, S95 go due for advertising, make IN
their credit OF Sl,790 &c, all of which being
entered on the journal does not appear on
the cash statement. 1t u proper here to add
that we paid Eugene Kelly & Co. the credit
above alluded 10, $l,'9O %, and $l6,4Ss 70 in
trial balance, and by paying the above sum
have reduced the floating debt Of the city to
$4,000.
F.ftA. IHeidentGls.-The difference between
incidental account on the cash statement and
trial balance is sos 60, which was the amount
entered on journal to the credit of Eugene
Kelly & Co., general account, for expenses
due for advertising sundry notices, and has
been referred to under the heading Of Eugene
Kelly 4 Co., general account
G. S. HARDEE, City Treasurer