The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-10-15
FINANCES OF SCHOOL DISTRICT


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Prscticsi Suggestions for More satis-
factory Basis by George VI. King.
Mr. George III. King. member of the
school board, has sent in the following
communication on the question of the
financial affairs of this school district and
outlining plan for . moro satisfactory
basis OF the same, which will be of interest
to all people interested in the public
schools OF this city:
SEATTLE. Wash, Oct. Is. 1894.
TO THE EDITOR: As number OF our
leading citizens who are interested in get
ting the financial affairs of the school dis
trict on more satisfactory basis have
asked me 20 explain more in detail the
plan TO that end proposed by me at the
meeting Of the board of education on the
10th inst. and as what said then as ad-
dressed to my fellow directors, who were
acquainted with the subject. and conse-
quently was not so seize pi Anatory as il
should have been. or as l would have made
1t If taking TO strangers, beg TO trsspass
on your columns for sufficient space to sx-
plain what do mean.
Under the statute q Hills Code, sec
ton $50. the board of education is required
annually. at meeting next preceding the
annual tax levy, to report to the county
commissioners an estimate of the amount
OF funds required for the following pur-
poses:
"Second-For the purchase of school
sites and erection and furnishing of school
buildings.
"Third--For the payment, of interest
upon all bonds issued for school purposes.
"Fourth-For the creation Of sinking
fund tor the payment of bonded indebted
ness.
AL, nj ths couutv commissioners. 49, a,
thorixed and required to levy and collect
such sums the same rs other taxes are col
Iected.
Heretofore 1t has been the custom Of
the board of education to make this esti-
mate and report IL 10 the county commits
sioners- The board then would go ahead
and draw warrants for whatever was
needed for the district withou. reference
to keeping the amount required to run the
schools for any one year within that years
estimate. The taxes when collected would
be, and have been, applied in payment of
warrants In the order of their issue. The
consequence of this has been that the
whole revenue OF the district has gone
year by year 10 pay warrants from one to
three years old, while the running ex-
penses of the district have been settled by
other warrants. without any restriction as
to amount. Thus. although portion of
the old warrants have been paid of every
year, more tnan tHat amount OF new war
rants have been ann ally issued, and At
the end Of the year the floating deb. of the
district as greater than At the beginning.
Now l believe that right construction
OF section ss5. volume I, OF Htil's Code,
means that the board OF education shall
annually estimate, the county commits
sioners annually levy, and the county
treasurer twho is ex-officio treasurer OF
the iistrictl annually collect the amount
of taxes necessary 10 run the schools,
provide for new buildings, pay interest
on bonds aud provide q sinking fund year
by year, for the year next ensuing this
annual estimate and levy. | think, also.
that said section means that these several
purposes for which the tax 10 levied and
collected shall be kept separate, and that
the taxes when collected shall be divided
proportionately into these several funds.
'sln accordance with the above views
prepared 4 resolution requiring the sccre-
tary TO open and keep separate accounts OF
these several funds, aud providing that
all warrants drawn should be- charged to
one of these funds, and should indicate on
their face the fund against which they
were drawn. | believe II this 10 done and
the board of education will keep strictly
within the amounts appropriated to these
several funds regulating their expendi-
lures accordingly. that the difficulty VIII
be solved, and We will be able to do what,
as honest, careful business men We should
do. and " hat certainly. II the expression
OF public opinion - a guide, the majority
of the people want US TO do, and that Is,
live within our income.
ssrhe county treasurer 10 the treasurer
of the board, but without the control of
the board. | believe, however, that II the
ordinance proposed 10y me, and which will
be before the board for final action on
Tuesday evening, the 10th. Is passed. there
will be no diifiealIy ia having the treas
urer meet tho warrants drawn on these
several funds year by year cut OF the
moneys so appropriated. and II there
should be any difficulty in this respect,
which should deplore, think neyerthe-
less that this is the intention OF the Law
and that the treasurer could he made 70
comply with ~
Nov. as 10 the floating Indebtedness.
This amounts in round numbers 20 S270.
| O0l. aud il has been asked me what Is 90 be
done with it. as the people have refused 20
fund ~ Ii Is nos represented by
warrants drawing and 10 per
cent interest, bat can be funded IN
bonds drawing only or per cent As
far IS could learn. the chief objection 20
| funding it, when the matter VAS brought
| before toe people short time since, Vas
widespread belief that II 10 VAS funded
| she beard of education would simply go
ahead creating more Indebtedness. with
oat any regard % the revenue Of the dis
triet. Whether the board would have So
| acted or not 10 not know. but mAloF
| ity Of the People were. on that occasion,
! net inclined 10 trust L. Nos, 10 my mind
| the only thing that can be done with this
/ lndehgsiness. and the test thing that can
| he done with ia. Is 10 fand Is At fse lowest
rate Of interest possible, and have
enough confidence ia the sense and basl-
ness Judgment of nv fellow citizens 10 he
| tsve that. III the hoard OF education sltl
onlv Show them thAs heucetors ard ~ IS
resolved that the Schoos district shall not
exceed It's annual income. they shI then
vote bonds for this paTpose.
| I'm fsgio~lng out the above plan l
wsnlA estimate a. carefully IS possible the
nnsaupt necessary IA run the schools foF
Ten months. and II for any reason this ga
- not fatty Forthcoming. l would run as
ions As the monev collected weald lst as
/ ana ghen stop. Uniss no Circumstances
would | ran deeper Ia debt IL theirs
/ should he q Surplus AZ the end 81 the year
/ in any fnnd, would carry u ioFwara 10
/ Tie csry~Spondiax faat for the next year.
and reduce fhe estimates tor "a AZ fHAa a.
eorilnEiy.
ssDn next Tuesday the board 81 e1ues-
ton sill make the annual estimate, ana
unless some action IS then tsken u stis
alters ards Re ton late 60 DO saysnsng Tor
another year. Respectfully. :,
- a.. -. -. - Wallace fxtr.