The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-01
Record of Financial Achievements
Shown by Administration with
Ending of Fiscal Year.
BONDS CAN NOW BE ISSUED
NO OBLIGATIONS OUTSTANDING Ex-
CEPT THE BONDED DEBT.
Statistics of Building in 1902, and
Record of Births and Deaths
Municipal Notes.

The fiscal year of Indianapolis ended last
night at midnight. In all respects it was
year of financial achievements for the ad-
ministration, which has had to work since
il took charge of the city's business with
financial tools not designed to make the
work easy.
1t is a peculiar condition under the In
dianapolis charter that an administration
is permitted to provide its financial re-
sources and dispose of them for only nine
of the twenty-four months. This condition
has operated to place a financial problem
before the administration of Mayor Book
walter that was filled with perplexing fea-
lures. With revenues less than the esti-
mate of 1901, with unpaid bills of the pre-
ceding administration which were presented
this year, with temporary loan of S195 600
as a legacy from the preceding administra-
ton. the city ends 1902 with large finan-
cial gain. In addition to dischargng all
the unexpected expenses. including $4,000
for the suppression of smallpox, the ad-
ministration has paid $4,000 of the tenn
porary loan debt which was funded JAN l.
1902. The $4,000 received from the Gallup
estate as the city's portion of the judgment
against this estate for sequestered property
from the Taggart administration.
APPARENT CASH BALANCE.
In the treasurers office yesterday the city
had to its creuit a money balance of over
500 OOO Against this there are the out
standing warrants aggregating over $4,000.
Controller Breunig estimates that the
actual cash balance for the new year will
be between $4,000 and $4,000. This is about
the same as the city began the year 1902
with The management of the finances dur
ing the year has required the strictest
vigilance and the most careful Judgment
on the part Of Controller Breunig to bring
about a balance on the right side of the
ledger
The tax duplicate OF Indianapolis for 1902
(which determines the revenues of the city
from taxation) is s1S2927 .1So. The tax levy
for city purposes Excluding cents for
sinking fund and fire and police pension
receipts for the year 1908 from all sources
are
TaXation SSI 80
Polls OBSERVATION-DISCLOSURES. 2l.27S50
Special sources Qicenses, etc.,. 100000 90
Total 81 537. .S6S 40
The city budget as reduced BY the Coun-
ell after it's submission by the mayor and
controller calls for gross appropriations
of 81 392 Ill So OF course the amount to he
derived from taxes is the maximum that
may be collected and is subject to large
discount This discount is usually recov-
cred. however. by the payment of delin-
ouencies of previous years, that the in
come from the S4-cent levy will be practical
ly complete. This will give the city good
working fund for emergencies above the
gross appropriations to which may be add
ed such amounts as ii may not be neces-
sary 10 expend from specific items This
provision made for the city is liberal and
win admit of the policy OF paying as you
co."
CAN ISSUE BONDS.
The city begins the year with no debt
except the bonded debt This amounts to
&. .i2l. .0oO The debt limit of the city is 2
per centum of its tax duplicate. thus au-
thorizing the city to increase its debt to
50. .s5s. $40. In other words. IL an emergency
arise for the creation of additional per-
manent debt the city may issue bonds TO
the amount of S237. .542-
The financial problem for 1903 was solved
nv Mayor Bookwalter and Controller
Rreunig in September when they recon-
mended appropria tons large enough for
the needs OF the city and tax levy sum
cient 10 produce the revenue Ii was
necessary for them 10 bring the levy for
city purposes TO ~ cents. which is intended
TO hut equalize the effects OF the disas
trous 59-cent levy of the Taggart admin