The Indianapolis journal., 1892-07-11
THE SCHOOL BOARD FUNDS
Interest Was Formerly Paid Upon Them
by the Treasurers
Until the Rule Was Changed Upon Frenzel's
MOtion-Shortly Afterwsrd He Was
Elected Treasurer-The Library.

During the past year or more the Board
Of School Commissioners has been severely
censured by the Sentinel for borrowing
money temporarily to meet maturing bills
while it had a fund of 100000, or moro, on
hand.
That would seem to be q serious and
inst cause of complaint" remarked j. b.
Conner. 9 member of the board, in CONVEX
sation with Journal reporter on school
matters. but while that money was really
on hand, there is o statute which makes 1T
felony to divert or use dollar of 1t for
other than the specific purpose provided by
law. the constructing of q library build
ing"
Hasn't the board also been censured for
hastily and without proper consideration
passing an order for two-hunGred tnous-
and-dollar temporary loan to meet bills as
they maturef"
'Yes; and the explanation is that the
board has. for want of funds. been COM
revenues. and the law on the subject pro-
vides that no additional temporary loan
shall be made till existing ones are paid,
and so the order for theee loans has TO be
made to cover the period till the time
money comes to hand TO pay them. The
to save interest the board obtains the
money, IN installments as 1t is
fssss o1 f hs ususi sons a.psa 9sa sy
q specially called meeting of the board for
the purpose, and was simply reported TO
the regular meeting as Its action, when
this seeming haste appeared. Any falr ap-
prehension or what was done would have
saved the work of misleading the public to
the prejudice of the board"
And what of that 100000 library bond
funds"
Here are the facts from the boards rec
FEB. 90, 1891, q resolution was adopted to
erect library building, and employ an ex-
pert TO prepare basis for plans.
March 20. 1891. Professor Ware was so
April la. 1891. code for competition in
May is. 1891. order passed to sell the
bonds, all voting for 1t.
June g. 1891, plans adopted and architect
selected.
July /. 1891. bonds issued and sold.
July z. 1891, moneyirecelved from sale OF
bonds.
Sept. 25, 1891, contracted for building to
be completed in one year.
"At full meeting of the board the men,
bets all thought that as the building was
to be commenced and pushed as rapidly as
possible that year, and that as at the crop
moving season money was more In demand
and hi CHER, it would be best to sell the
bonds in July. Furthermore. it did not
seem business like to contract for the erec-
tion of the building without assurance
that the new law would be found satIsfac-
tory by loan companies, and that the funds
to build were certain to be In hand. Dur
ing the seven or eight months from date of
contract about $4,000 of the money was
paid out in construction of the building"
Isn't the work going on rather slowlyf'
Il think that 1t is not an uncommon
thing to be year In the erection of such q
hnilh linz IN hova fha I'm do roA ho-
fore the contracts are made. The Informed
reader will call to mind several public
buildings for which the funds were secured
before the contracts were made for con-
| srruction."
"Was not interest paid on the school
funds at one timei How was that rule
changedr
'As to the interest on the school funds,
| find by the records that Mr.. Vonnegut, as
| treasurer, and afterward DR.. Cary, as the
| treasurer, both paid interest into the funds.
| But on Dec 19. 1884, Il was not then a men,
ber) Mr.. Frenzel offered q resolution abol-
| ishing interest on the funds: it was re-
| ferred to committee and in January, 1885,
| was carried into effect. In July. 1885, Mr..
| Frenzel was elected treasurer and served
three years. and Mr.. Williams served since
| then till now.
For fifteen years the School Board had
fixed and low basis for revenues. with a
constantly, indeed rapidly, increasi n g
school population, occasioning the erection
| OI ueW DullulnkS, tue employ ymont Oh aQO l.
tional teachers and other causes of in
creased expense. The board called public
attention to this condition of things and
the Legislature authorized it to in
crease its permanent indebtedness.
| This was done and new buildings
were erected. Two years later the
Legislature authorized the increase of
the local school levy. This was done. but
not to the full limit authorized. Only the
half of the present years funds under this
| new levy are Yet available. The school
revenues thus provided have been faith
fully applied, and yet the board finds itself
in debt and with some seven new build
ings required to be erected this year.
| There would be better understanding of
school affairs and finances If half the activ.
ity obtained in imparting information re-
spectlng the growth of the city, of it's
school population. and the occasion for ad.
| ditional funds, that is used In general mis-.
information, and tor that reason baseless
criticism. | repeat that far criticism is
valuable and public duty. But when tn
pubic is served gratultously by those
popularity chosen by the ballot. and there
is no motive of gain or selishness the vo-
cation of the swift witness does not ap