Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1894-01-12
OLYMPIA'S FINANCES.
A COMPREHENSIVE REPORT BY
CLERK FORD.
shows COnClusively "Whcrc We
Are At.''-That Notwithstanding
the Enforced Economy of the Pa = {
Year Expenditures Were More
Than the Entire Revenue.
To the HonoraJle Mayor dud City Counci
Of tile City IF Olympia, Washington:

| 0f TIE Ctty ~ UymPid, washington.
! GENTLEMES
| In compliance with the provisions Of sec
| tion thirty of an act oi the Legislature, ap
proved March 18th, ls9o, relating to tn
duties Of city clerk, have the honor here
with to submit the annual report relating t
the finances OF the city of Olympia. for tn
fiscal year ending December 3lst. 1885.
| The following shows the amount, rate q
| interest term, proceeds and how applied, o
| the bonded Indebtedness of the city.
The forty-hye thousand dollars six pc
| cent thirty year bonds We're issued Jul!
lst. l,.p, and are payable ut The option o
The one hundred hity-fve thousand 81,
"fHy s xca Nareh 10th &ers and
making mail sI a to- total 'i q two hundred thoasant
Six per cent. interest bearing bonds, interes
payable semi-annually, in New York city
and amounts annually to twelve thousant
| tl2NW) dollars with II commission of Que
| fourth: of one per cent. added.
| The proceeds of the forty-five Thousand
dollar bonds were applied to the payment o
outstanding general Indebtedness OF the city
represented by warrants drawing ten pei
cent. interest, and the proceeds OF the one
| hundred tfty-fve thousand Hlj5UO) dolla
bonds and premium received on same, wer'
| applied Ms follows:
| aud i've one -hundredths ts6S.l5605) dollar.
to the payment of outstanding general fun'
| warrants.
seventy-four thousand ts74,O0W dollars t.
the payment OF outstanding street iuhu war
rants.
placed to the credit of the sewer iabo
fund," and paid out on warrants drawn OIL
| that fund for labor on the sewer-all thu
! material for the construction of sewers beint
paid for by drawing warrants on the sswel
| fund, the greater portion OF which Is stil
| outstanding.
In comparing the outstanding warrants a
the close Of the year ending December iSn 81. p
year ending December 81, lsgs. two fact,
should be kept in mind: During the yea
1892, as shown by the bond statement; tht
hundred fifty-six and five-one hundredth'
Sii2, 1856 O5) dollars from the sale of bondl
was applied to the payment Of outstanding
warrants on the general and street funds ads
And the receipts from the tax roll OF lsg
were also available for this purpose, and ye
at the end of the<year 1892 there were out
funds the sum of thirty nine thousand foul
hundred.hs isss'!s;Ss5 q; dollars E. The vmsS lsS
Of city taxes from october LIST, 1898, to Jan
uary lst, 1894, deprived the city OF thi
source OF revenue that would have beei
raiits for the year 1893, and left the cit,
practically with no available resource fO
1888 to pay her obligations, except from Ii
| censes and q small sum from back taxes.
There is due the general fund and stree
fund from especial street improvement as
| sessments' the sum OF thirty-tOu thousant
lars, with interest. on account Of drawing
upon these funds for street Improvement
where the work has been done by the city
under the supervision Of the n;o street comms han
been made against the abutting property
and when collected should be transferred t
IA CAREFUL study of the comparative state
ment of the expenditures of the city 10
1897 and 1898, will disclose the fact tina
there has been marked reonctt6n ion rnauia am I'm
funds During the year 1892 th,re were Is
sued on the regular funds, iucluding sixteel
dollars aha ON the
labor fund.-" the sum of ninety seven thousan'
one hundred fifty five and thirty one.hundredth
g7Sa dollars IIsis sr does s@ont mot fo%rtee Glae
Thousand one hundred one and fifty one
hundredths sl4,l0i .5O) dollars) o,
During the yea, ending ,%s rsSs % General eS
street. sewer and bond interest funds tn
sum of sixty-One thousand fifty nine am
fortytwo one.hundredths GSls ss;a2( " dollar,
Thousand seven hundred nine and sevent
one-hundredths Cs96.7O97y dollars. On &C
count of the continued financial depress,66l 10
time of the collection Of city taxes, a. hs
been stated, from october ], 1898, to Januar
the Council have ,hs9 Scts io1 wbc
IL.
the council is uOt responsible, nave resnite'
in a depreciation of city warrants durinl
this administration.
My official connection with the city coun
Gil and the officers OF the city has peel
most pleasant, nothing occurring 10 mar n
the least our friendly relations. 10 IN
MAYOR and city council with whom l hay
had the pleasure to be associated as CIT
clerk, desire to express my sincere thank
and gratitude for the uniform Kindness ant
courtesy extended to me during my term o
office During the year, In addition 10 IN
regular work Of the office, we nave gon
through the back tax books, from io,S .
1890 inclusive, and have nearly compiete, e.
it not been for this tedious piece OF WORK
the expenses of this office would have beel
reduced considerably below what tney are
But the city will not lose anything Dy I'd
transaction. x....
AS city clerk have tried to be falthiu
toI the trust committed to my care, ana
am willing to leave 1t with you ana tn
people to Judge how well or how 1mperiec
the work has been performed, and ask ina
the committee to whom this report shall o
| referred, shall carefully examine the account
and doings of the office during the yea
/ bespeak for my successor a successiu !!
term and believe you will find IN MIN iai'l
full and obliging CLERK.
| Il. A. FORD, City Clerk
SrATEMENT OF BONDED INDEBT
| EnNncQC