The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-03-11
LOST BY THEFT
OR BAD SYSTEM?
Continued from First Page.

by the Commercial Club public affairs
committee to check up the permanent i'm
provenment revolving fund shows that
there is still $11O,103 unaccounted for.
The total amount of the fund is only
$653,763 instead of s1,241, 900. The total
amount of the leakage was s5S7.237.
Mr.. Ninocks finds that the fund was
created in 1887 and that bonds aggre-
eating 100000 were sold the following
year. Additional bonds amounting 10
s150,0O0 were sold in 1892 Penalties and
interest delinquent assessments
amounting to $4,000 have since been adj
ded to the fund. The fund was over
drawn 5000 Dec. 81, 1902.
MI Nimocks estimates that at least
$4,000 of the S15O,000 received from ex-
cess assessments has been lost track Of
through errors made against the revolv
ing fund in adjusting the accounts be-
tween that fund and the permanent inn
provement fund each year. It is also
tended that great percentage Of the loss
was due to assessments becoming delin-
quent and finally being compromised for
less than the full amount Some of the
loss is also thought to be due to the levy
ing of assessments which were afterward
annulled against exempt property.
The report impresses upon the commit
tee the necessity Of the proposed amend
ment to the law authorizing new issue
of bonds for the revolving fund, providing
of the fund and for its reimbursement by
special assessment is depleted.
Detailed Statement.
MIR. Nimocks' detailed statement fol-
lows:
To be accounted for............ SIS, 237. 90
Due from permonent im-
provement fund Dec. 81.
Assessments in process of
collection ........... 500 2SS. 90
90
Total Stal - is !: .cconH,: tSr
Transferred to sinking fund -. ooo,,
Transferred al to sinking fund
in 1892. being interest on
fund bonds to 1881 $4,000
Interest on contracts and
--- 2st. SYST %
Balance to be accounted for. 1855 II / 81
Other apparent losses are:
Assessments Cancelled by the court. S14. 50
Assessments Cancelled by the auditor. 6,6o1 IS
Assessments annul1ed by the coun-
Gil after work was constructed... 65.56e .
| Loss through city treasurer. ........ 51.5SS.SE
Loss through county treasurer. S,9I612
Special tax expenses .........-..... 1S,o3o. 90
Adjusting, accounts between county
and city: .s.---
P Ps9s ead pa %peninery ::::: a 1871
Resetting curb and gutter ....... S.1TS.13
Rent of storage lots ............ 1.1Sis2
Miscellaneous expenses 9eS.6I Z
Total 80. .s225, SOS. 81
Some Recommendations.
The public affairs committee will make
the following recommendations to the city
council:
First-That the city cornell investigate the
item above reported. showing fewer assessments
to the amount of $65.569 49, which were an
nulled after the construction of the improve
ments. with the suggestion that the council order
of
| be legally assessed.
Second-That recommend to the council
| the ACCESSIBILITY of passing ordinance requr-
| ing the city engineer and city controller to keep
| account with each stretch of pavement curb
and each sewer extension. In other words, to
| keep construction account for each improve
ment.
+ Third--To call attention to a condition to
which the attention of the council has been fire.
| quently called. namely, that the system of
counting between the city and county is very
| lax, and, while it may not have resulted in
1 actual loss of money, it is undoubtedly respon-
sible for many errors in the distribution of taxes
! collected to the proper funds.