The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-12-13
THE CITY FINANCES
Large Street Expenditures, But
Little to Show.
Gradual Reduction of the Floating
Debt Need Not be Checked by
Street Paving.

The report of City Treasurer Thro-
dahl for November shows the receipts
to have been SO, 900 from liquor Ii
censes, $1S3 40 from fines and fees,
SO, 727. 81 from the tax levy, So, 965. y
from water rents $917 SO from the
special assessment for the South Sec
ond street improvement, $3.50. Go from
the special assessment for the Fulton
street sewer. and $752. Is from judg-
ments secured by the city for old spe-
cial assessments and for which credit
is mainly due to City Attorney Daley.
This is a total of SIS, 99s. "a received
during the ninth, to be added to a
net balance on hand Nov. 1st of
SIS, $50 sc.
The expenditures during the month
were So, 94S.78, including 50, 09O.SS
paid out of the current fund, 81, 440 "a
out of the road fund, 1898. % out of
the special assessment fund, 81, 084. 0S
out of the waterworks fund. 1897 SO
out of the park fund, So, 800 out of
the interest fund, $73.75 out of the
sprinkling fund, and $217. so out of the
library fund.
There was net balance on hand
Dec. 1st of SIS, 700 90. The following
funds had money in them to their
credit: Current, 81, 6O7 So; special
assessment, So, 9s7OS; waterworks,
So, 237. "a interest. So, 293. 80; sinking,
81, SO3. 60; library, $751; bills payable,
$892.95. The road fund was over
drawn sos. 80, the park fund 1858. 90,
and the sprinkling fund $441.71.
| A year ago, the sum of $l5, 900 was
levied for the road fund, and all of it
has been paid into the city treasury
except the delinquent tax, which
amounts to about five per cent of the
total. Since April 1st, there has been
used from the road fund the sum of
$14, 633. 65, with four months more of
the year unexpired. For this large
sum expended on our streets, there is
not block of pavement to show, nor
a cent to come back from the property
owners benefited. From this showing,
it would seem that it was about time
to make permanent Improvements on
our streets. Much needed work has
been done, but much of it would have
been unnecessary had some Of the
streets been paved years ago.
By using portion of the road fund
, levied this year and some of the Ii
quor license money the city ought to be
able to have $40, 900 to $l5, 900 to use
in paving the intersections of such
streets as may be ordered paved next
/ year. This will be nearly onethird of
f the cost of paving, and the property
owners ought to be easily able to
l handle the remaining two-thirds.
: There is today in the special assess
ment fund So, 100. SO received from old
special assessments, and against which
no CERTIFICATES are outstanding. There
is in the sinking fund $48S. ID, and
1 there is in the bills payable fund
8 1924 81. This is total Of So, 528. sc,
g which has been set apart for the pay.
;. ment of the floating debt of the city,
and it should be so used at as early q
I date as possible, in order to stop the
= interest. The reduction Of the floating
+ debt need not and should not be inter
fered with by any contemplated paw
, ing. It will, of course, have to be &C,
{ complished more slowly, as there will
be no money in the current fund tc
apply for the purpose, but money
levied for the purpose and old special
assessments that the debt was created
for should be applied to reducing it as
s rapidly as the money comes in. The
I council has no right. even if it wanted
= to, (which it does not, to use thi!
money for any other purpose, and i
brings in no interest when lying idle
in the city treasury.