The Princeton union., 1910-03-03
VILLAGE FINANCES.
The Net Indebtedness of the Village of
Princeton Reduced $4,3Ao.O5
During the Past Year.
Cutting Down of Territory Will Ne
cessitate Large Increase of Tax
Rate in District No. I.

simply shows the receipts and ex-
penditures of the village for the fiscal
year ending February 81, 1910. It
gives the reader no information rela-
tive to the financial standing of the
village-jusJ the orders paid, whom to
and what for, and the collections and
receipts. Such a report is of little
real value although the law requires
it's publication. It is the brief state
.ment issued by the recorder that tells
the story of the financial condition of
the village.
A year ago the U n o predicted
that the present council would reduce
the village Indebtedness; the predic-
tion has been verified and material
reduction has been effected. The net
Indebtedness of the village February
25, 1909, was $50, ,264.O9; the net in
debtedness February 81, 1910, is $685.
:914.l5-a reduction of 81, 349.05. A
further reduction of at least 81, 500
could have been effected had it not
been for necessary permanent i'm
provements that we're made-improve-
ments that will not have to be made
this year or for many years to come.
For instance: the resetting of the
boiler at power house, $500; barn for
team, $20l.96; vault for village rec
ords, S20007; meters rented out to
consumers of electricity, $3.50. 00-
these meters are owned by the vii
lage and the rentals in three or four
years will pay the original cost.
The orders outstanding February
:25, 1909, we're S14, ,697.28; orders out
standing February FL, 1910, SIP, $4,000,
but there is also cash balance on
hand Of So, 556.l4 This sum would
be applied to paying outstanding
orders Immediately we're it not for the
uncertainty as to the result of the
vote at the ensuing election on the
question Of license or no license. If
no license prevails it will require the
greater part of the amount on hand to
pay the refunds that will be due the
several saloon keepers for licenses al
ready paid. When no license is voted
each saloon keeper must be paid back
the proportionate amount of the unex-
pired term of his license.
The report shows that the net re-
>ceipts from the public weighing scales
is $34. IS. 'Tis small but the balance
is on the right side of the ledger. The
team owned by the village pays for
its driver and keep and little better.
Some people imagine that the pub
fishing and printing for the village
costs an enormous amount. The
total expenditure for publishing
financial reports, all notices required
by law to be published and all the Job
= printing for the year ending April l,
1909, was Sll7.S5, and this included
the printing of the recorders report
in two newspapers. The cost for the
year ending April l, 1910, including
the treasurer's and recorders reports
and all job printing, will not exceed
$500. Surely the printer cannot be
accused of robbing the village.
If the policy of the present council
is pursued, a still greater reduction
can be effected next year in the in
debtedness, and by 1912 there will be
no outstanding orders, and then the
liquidation of the bonded indebted
ness of $4,000 can be entered upon.
BY good careful management and the
exercise of proper economy the entire
floating and bonded Indebtedness can
be completely wiped out five years
from this date-by l915-without in
creasing the village taxes. If
saloons are voted out it would
require an additional tax levy of Is
mills annually upon the present
valuation, to make up the
amount paid in licenses. The valu-
alton of the village, real estate and
PERSONAL property, is $37l, $50; the
amount paid in liquor licenses is
$4,000; figure it out for yourself. We
are making no. argument for or
against license just giving cold facts
anu uS uioS. 'a.. -..r
Neither is the U o interested in
any candidate for village Office any
further than to have men elected who
will administer the affairs of the vii
lage economically and see to it that
the laws and ordinances are rigidly
enforced. The present council is the
IN ~ ho
ness of the village, and if the mem bers
can be induced to serve another term.
or a series Of terms, and continue the
good work until the village is out of
debt we do not think the taxpayers
would have cause to complain. At
best the position of a councilman is