Waco evening news. (Waco, Tex.) 1888-1889, 1888-09-13
CITY FINANCES.
STATEMENT OF THE CONDITION
OF THE VARIOUS FUNDS.

The Treasury is not Dangerously
Depleted-what the City's Re-
sources and Liabilities are.
The report which appeared in the
Dallas News special from Waco two
days ago to the effect that the city OF
Waco had overdrawn its accounts
$50, 900 has excited a great deal of COM
ment and criticism on the part of tax
payers and officials, and the News
presents this evening summarized
account of the condition Of WacO's
finances, obtained from the city
treasurer, Mr.. w. w. Seley.
While the aggregate Indebtedness of
the city exceeds $4,000 that in
debtedness is not in the shape
of overdrafts of its accounts
but is represented by bills payable,
none of which are yet due, and for
the protection of which, provision has
been made. The condition Of the re-
spective funds, according to the state
ment given by treasurer Seley, is as
follows:
CASH ON HAND.
Current fund. ...............S 2S2 Oh
Past indebtedness fund. .... 80 A
Sinking fund. ............. 1888 go
City hall bond fund. .. 27,044.25
lakewood Cemetery fund. go 50
FUNDS ovERDRAwN.
Street fund. s 4SS so
School fund. ............... 273 rs
+. Waco Cemetery fund. ... 5 60
1t must be remembered, however,
that nearly all the funds above sta
ted, which have a cash balance to
their credit, are special funds, sacred
to certain objects and the money can
not be appropriated or expended in
another channel. This is the case
with the sinking fund, which is SUBJ
ject alone to drafts to liquidate the
outstanding indebtedness due for
school buildings and our Telford
pavement. The city hall fund, too,
can only be used to pay the expense
of erecting and completing that struc-
ture. From the above it will be seen
that the actual amount which the
city has overdrawn from the funds
available to defray its current and
general expenses is S712.56, and to
this may be added the check drawn
for the settlement of the pay roll Of
the street force last month, but this
check has not yet been honored.
On the other hand the resources
to the city for the liquida-
ton Of its bills payable, and the pay
ment of its current expenses are
by the amounts due tor
taxes on the first day of January
next, aggregating S51 1867, of follows:
RESOURCES.
Current fund ST., 5S7 90
street fund. ................. $3.50 90
taxes. ......... 5000 90
Total. .................. S51 1857 90
From this it will be seen that the
city is not in such bad way finan-
cially after all, but on the contrary,
in the opinion of the officers, she Is
able to show much healthier record
than any city of equal or larger size
and preafar resOurcas in tho broad
limits of Texas. Out of her resources
of nearly S52,O0O.0O she will be able
to take up the SAC, C0O.CO of outstand-
ing bills payable which are not yet
due and have a balance left to meet
current general expenses, not suffi-
Gent, it is true, to cover all such ex-
penses but sufficient to materially
decrease her general liabilities and
enable her to procure more money to
meet these liabilities as they come up.
The NEWS has in this article en-
deavored to give succinct account
OF the actual financial condition of the
city and our readers may rely upon
its accuracy, as it is obtained from
official sources.
Go to Hill Bros. tor school books.*
---~--s-
Alexandra Says
Patronizing Waco's manufactures
lnsures Waco's prosperity. If ever
people Will make it a point to pur-
nh l.