The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-07-12
THE CONTINGENT FUND.

pened that the general expense fund
of this city came TO be called a "con-
tingent' fund; but so it is. The usual
idea conveyed by the term "contin-
gent fund - is that Of a special fund
SET apart for the use of the executive
in order TO meet certain extraordinary
expenditures which arc liable to be
needed at any time and could not be
anticipated in any formal way by law
or ordinance. However, since that rs
what the general city fund is called,
and as long as we understand that 1t
is the general fund for city expenses,
it makes no great difference.
The condition of the contingent
fund at the present time is naturally
one of considerable interest, and as it
practically absorbs all of the current
revenue of the city aside from that
covered by the special funds, as water
supply, water works. streets, sewer, IL
brary and the sinking funds, it is to
be considered as the general fund of
the city. This general fund is con
stantly overdrawn Az the beginning
Of the present year there was an over.
draft on that fund of 800, ,55S,37; this
by the Auditor S report rs of date De
cember 81, 1906. The expense of this
fund for the six months past have been
S374.141O5. OF this expenditure there
has been paid in cash 02,o4320.
leaving an overdraft in this fund on
June 3Oth Of $172.O97S5. The past
six months expenditures have been
augmented by a number of eytraordi-
nary payments, among which may
be named items for damages according
to court judgments to j. G.. Felt, Eu
genia Kimball. and D. B. Hampstead,
amounting to $17,930.63, for damages
inflicted upon their property by So
called Improvements entered upon by
former administrations; also, item Of
$26,33O for interest. 1t is expected
that the expenditures from this fund
during the remaining six months of the
year viii aggregate about 100000 a
month, or $4,000 for the six months.
That will make an expenditure for the
whole year Of S615,0oo, or $4,000 in
excess of the revenue.
The total annual revenue of this
fund may he, placed at S53O,OO0, made
up of S230,000 from tax levy and
100000 from licenses, fines, forfeit
ures, etc For the past six months
these latter accounts have brought in
within fraction of $25.O 900 month;
and they will no doubt be as prolific
the coming six months as in the past
SIX months.
But the overdraft on this fund
at the beginning of the present year
was upwards OF $4,000; so that the
city will come ont just about even. so
far as this fund is concerned. Other
funds practically take care of them
selves by reason OF fixed revenue
with expenditures that are always on
the safe side The contingent fund is
the fund TO look out for, and that is
the one in which the taxpayers arc
chiefly interested.
The ovcrdraft of 500 900 at the be.
ginning of the present year is hcrit-
age from the Morris administration,
which unloaded upon the American adj
ministration upwards Of $4,000 of un.
paid accounts; and inasmuch as each
year must keep its own record and ac-
counts as between income and outgo,
that Morris legacy is continuing
overdraft. The present year may
rather reduce than increase it, So
that in any way it may be looked upon,
this contingent fund is in as good
shape as could be expected from the
adverse legacies it received, and from
the necessary expenditures of the city,
and from the tremendous public i'm
provemcnts that are being made
The particular thing to be kept in
mind, however, in it all, is that this
statement of accounts which brings the
figures up to June 3Oth inclusive,
shows the contingent fund to be in
fairly good shape, and demonstrates
that with care in the expenditures for
the ensuing SIX months there need be
no fear whatever of any deficit or of
any trouble on account of excess of cX-
penditTes And in all this whole ac.
counting, the prime fact is to be kept
in mind that the city is not paying any
interest on its overdratts. The amounts
still held IN the water and sewer funds
balance any ovcrdraft that the city
may make on the contingent fund. So
that interest due the city and interest
due the bank balance each other. and
the city pays nothing OF this account
1T is. in fact, showing that is very
much to the credit of the American
party, and we feel sure that any tax.
payer who takes the trouble to go TO
the bottom Of the city's accounts in
an intelligent way, with candid and
unpreiudiced mind, will coucede that
taking everything into account, the
the American administration is doing
its duty to the public in a manner at
once advantageous, commendable, and
businesslike,