The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-06
He Indicates the Financial Status of
the Board and Condition of
school Buildings
THE TOTAL DEBT IS $500, 153
BAD CONDITION ENTAILED By Loss
OF TWO HOUSES
Detailed Report Submitted by the Sec
rotary of the oard-BuiId
ing Bids Opened.

At the meeting of the Board Of School
Commissioners last night the annual re-
ports for the fiscal year ending June 30
were flied by Business Director Cleland
and Secretary Frank l.. Reisner.
The report OF Business Director Cleland
covers the entire period since the present
School Board organized under the new
law. and is also coexistent with Mr.. Gle
lands occupancy of the office OF business
director. 1t was under the law of 1899 that
the business affairs of the School Board
were transferred to the hands of a bust
ness director. Mr.. Cleland has been the
business director of the board for eighteen
months. apd the many excellent things
that the School Board has accomplished
since he assumed control Of the business
affairs are clearly demonstrated by the
first complete report that has been made
since the reorganization of the board. The
first significant thing to which the report
calls attention Is the fact that within the
year and a half that has elapsed since
the management of public school affairs
devolved upon the present board the total
school debt has been reduced from s1.01s,-
1S6 to 1886. 153. a total Of s122, O3S. In addi-
ton to this the board now has on hand
more than 500. OO0. whereas a year ago
the balance on ham amounted 10 but s41,-
722.
Again. the board has expended during
the last year sos. 600 less than the appro-
priations. This amount will be used in
the purchase of new buildings and will
save the board from borrowing. AT the
present time the board has not a dollar
of floating debt outstanding.
Another part of the report shows the ex-
cellent use that has been made of the Nc
Coy fund during the incumbency of Mr..
Cleland. For years this fund was allowed
to stand in the treasury without ever be-
ing called upon. but under the business
direction of Mr.. Cleland the fund was put
out at 6 per cent. interest. and since that
time the proceeds have been used TO give
school teachers better educations. The
report of Mr.. Cleland, set out in full, is
as follows:
ION Jan. 1, 1900. the management of pub
lie school affairs devoived upon the present
board under the radical changes of the
act of March 4. 1899. Among the conditions
OF the new law are the requirements that
the board must live within its income, and
must also pay Off each year a part of the
bonded debt 1t is a pleasure to report
that the board, within the past year and
a half. has paid off about SIC, 900 floating
OeDt existing jan L. lSUV. ana $oo,olS OF the
standing debt. has paid its current bills TO
date. and has a balance on hand.
The total debt of the board Jan. /, 1901.
was 1.0ls. l66. The debt July l. 1901. is 1886.
153. The balance on land July !, 1900, was
s41. 10.
The receipts for the fiscal year ending
June 80 have been 1866, 716, including $40, $50
from sale Of school No. 3, but not including
100000 bonds refunded. The current ex-
penses for the year have been 1851 I'll. in
GLIDING salaries OF teachers and officers,
supplies. interest. repairs. library expenses
and sundry items as viii. more fully appear
by the detailed statement Of the secretary.
There has been paid for debt (not including
100000 bonds ~refunded). grounds and build
ings and Mccoy fund investments, S97, 335.
leaving a balance of $l7S.3 32.
PUBLIC SCHOOL SYSTEM.
With the natural growth OF the city
the influx of population and the absorp-
ton Of new territory by annexation. the
public school system has become a large
and varied interest on it's business side.
Upon the accession of this board an in
ventory was taken of all school property.
This inventory was made by Mr.. Adolf
Scherrer, architect. Mr.. John G.. Fender
CAST, builder. and Mr.. George Wolf, deal
er in real estate. and showed the following