Daily capital journal. (Salem, Or.) 1896-1899, 1896-01-28
SCHOOL DISTRICT NO. a.
A 4 Mill Tax Recommended for 1896 by
the Board.

A 4 Mill Tax Recommended for 1896 by
the Board.
At a meeting of the school board for
district No. "a, held last night the
subject Of tax levy for the current
year was closed 80 far as the board Is
able. A mill tax will be recom-
mended in It's report to the annual
meeting.
The following facts are taken from
the annual report, which will be sub
mitted to the district meeting at the
city council room tomorrow tWednes-
day. night:
Total receipts, March 5, 1895,
to Jan. ], 1895. 6............. .SJ3,6lo ~
Total expenditures. ....... 33,6lS ~
Total Indebtedness. eXclu-
sive of bonds. 9,6O6 70
Estimated expenses to July
1st st................. .Sl4, ,S39 w
A comparison Of the financial con-
dltion of the district on the 1st inst.
with its condition one year before
shows a very gratifying decrease OF
debt amounting to s6,645.5O and a re-
duction i'm the expense estimate to
July 1st Of s7,O54.74.
The board expects to receive from
the state $500 and from the county
s65OO- forming a total of s9OO0-which
deducted from the grand total of IN
debtedness, estimated to be due July
1st of 4,445.26, will leave deficit
Of Sl5, 1926 to be raised to carry on
the schools to that date.
The total valuation Of assessable
property in the district for the year
lS95--as certified to by the county
clerks ~ 1853, I'll, being 1864, ,426 less
than that of 1894.
A levy Of four miles on this amount
will produce the sum of $1l ,8j4.S4. or
this sum delinquent tax Of 81 5000 is
estimated by the board which will
leave balance collectable of s10,-
354.s4. which deducted from the above
deficit will still leave balance of
S5,O90.42 against the district on July
!, 1896.
In order to pay the bills of the dis
trict in cash, as has been done during
the past year, II will be necessary to
borrow about 1000 In addition to
the $3.50 already owing, before the
taxes come in in sufficient volume 10
meet the bills. This will make nearly
10000 OF borrowed money on which
the interest rate is ut o per cent per
year. The item Of interest has cost
nearly 81 ,240 since last March and by
the lst of March next will have
amounted to 81, $50 per month for the
year.
II isnecessary for the district either
10 borrow,money or levy sufficient tax
TO pay its bills as they become due, for
the board deems IL ineXpedient and
injurious to the credit OF the district
TO issue, in payment Of its current ex-
penses, nOn-interest bearing warrants
payable at some indefinite future,
The board asks the taxpayers to
bear in mind, also, that after the LIST
of July next and before the taxes for
next year are received there must be
paid'for wood $3.50 and for interest on
bonds 81, ,l69 aud sufficient to carry on
the schools for the months Of October,
November, and December of 1896, and
January. February, and March of
1897, which over and above the re-
cclpts for delinquent taxes, tuition,
fees, etc, will be for salaries and in
cidentals) about sl3,2sl or a total of
Sl5, 800.
IL is the opinion OF the board that
1 mill levy will be sufficient TO carry
on the schools, without further in
yolving the distr let heavily in debt.