The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-27
STATE FIGURES IT'S CASH
FISCAL YEAR COMES TO A CLOSE
NEXT; TUESDAY
NIGHT
BALANCE OF $4,000, 900
That Is Approximately the Amount
Which the State Treasurer
Will Be Able to Show
Then.


When State Treasurer Koerner balances
his books, closing the state fiscal year,
next Tuesday, cash assets amounting to
approximately $15.O0e,0e9 will be shown OF
course the wealth. of the state cannot
be estimated by its available cash. as the
property on state institutions and schools,
amount to several times the amount Of
cash In the states strong drawer. This
vast sum IS not In gold and silver, but,
with the exception of something over ST.
$4,000 Is invested in Understanding
state, school district and government
bonds which earn a very large sum in
interest for the state, or rather the funds
to which they are credited every year.
Last night, when Assistant Treasurer
Alderman closed the books, the several
current accounts were credited with ST.
1855, of which the general revenue
fund amounted to $441, 66S.75. Money is
coming in quite rapidly, as many of the
county treasurers are making returns for
taxes collected. Ramsey. Hennepin and
st. Louis are yet to be heard from, and,
should they pay up before the first of
the month, the current fund money will
easily exceed 81, 600, 900. On the other hand,
great deal Of money is being paid out
every day, so a conservative estimate
places the amount at $2,000,000. But the
current funds are comparatively small.
when a statement of the figures of the
permanent school and permanent untver-
Slty FUNDS is made. Bonds owned by the
permanent school fund amount to S12, $780,
GOO, and draw from to AZ per cent. The
increases every year from the
large interest account, as well as new
contracts that are made for the sale of
state school land every year. The dozen
millions belonging to the permanent
school fund is divided into two classes
or 1nvestments-1bondsi which constitute
half the investment, and land contracts
with settlers for the purchase of state
school lands accounting for the other six
millions. ii 81
The permanent university fund has to
its credit $1,000, 900, invested for the most
part in state bonds, although about s475,
OOO is due from settlers on land contracts.
The permanent school and university
FUNDS credits on the books of State
treasurer Koerner, and the balances on
deposit in the state and national banks
Of the state belonging to the current
funds will give the state what is prac-
tlcally the same as a cash capital of $15,-
OVOVOO or Sl6 ,0C0 The, school fund money
cannot be used for other than educational
purposes, but the daily balance to the
credit Of the general revenue fund is
usually sufficient to meet the current ex-
penses of the state government, while the
other funds are set aside on a mil basis
from the tax levy from year to year Up
to the last month of the fiscal year money
is, as rule, available In almost every
fund, but during the month of July over
drafts frequently occur. The new appro-
pr1ations become available the first Of
August, and the wheels of state RIM
smouthly once more OF the current funds
the revenue fund is always the largest
and next comes the available cash in the
school and university funds, This is aside
from the money derived from the sale of
land and interest on, bonds, but for the
current support Of the university and the
aid the state gives the other schools with
in its borders. a..
Next Tuesday night Treasurer Koerner
and his assistants will burn the midnight
oil balancing the, states accounts for the
fiscal year of 1899 and 1900. When the
office epens0Aug. lit will be with a clean
page and over $15.OOO,0OO in cash with
which to inaugurate the new fiscal wear