The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-03-22
MANY OVERDRAF IS
SHOWN IN REPORT
Annual Statement of the City
Auditor Made Up PrinCi-
paIIy of Red Ink.
FINANCES IN BAD SHAPE
SINKING FUNDS ARE DEPLETED
FOR OTHER PURPOSES.

If City Auditor Alff reckons right in
his balances of city finances. the treas
ury is in worse condition now than
ever before, as indicated by liberal
smearing of red ink, denoting over
drafts, in the annual report just issued
from his office. The habit of Juggling
overdrafts had such a strong hold on
the auditor and his force of account
ants that the time allowed by law for
completing the report was considerably
Overdrawn
The report. which is for the fiscal
year ending Dec. 81 1909, shows that
there was only s7S,941.67 on hand, a
falling off of s21, 59430 of the year be-
fore. Collections were not pushed, for
the list shows the following increases
in funds not collected: Uncollected
taxes, $37, 5eS.10; uncollected water
rates, S26. e26.16; accounts receivable,
$2s, 52746
The record of overdrafts is further
heightened by an entry in the red of
57.520.55. A remarkable feature of the
report is an actual Overdraft of S4,-
916.5S in the sinking fund, which, the
law says. shall not be tempered with.
Money is often borrowed from this
fund to be used for other purposes,
despite the legal injunction against it.
There is also an oVerdraft of $1,4l4.96
in the sewers and drains fund
The overdraft in the streets and side
walks fund amounts TO $57, 52O.S5, which
is shown as the largest overdraft In
the report of cash in general revenue
funds. However, the greatest overdraft
| is not reflected here, because of the
outstanding warrants.
Adds to Big Overdraft.
The outstanding or unpaid warrants
for the year 1909 amounted to S436,
$3.50. The warrants outstanding at
the end of the previous year were
1891 GAG. This adds to the city over
draft during the year $55, ls429
| While the general revenue funds con-
tain ALMOST enough red ink to paint the
I inside Of the City creek aQueduct, the
cardinal decorations of the revenue
surplus funds are quite sufficient to
! fund shows a balance of $170, 67S.4O; but
this is more than offset by outstanding
obligations. The water supply funo
shows a clear l. o. L. of S72, 52S. So
while the streets and sidewalks fund
shows an overdraft of S110,776.S4 and
the sewers and drains fund is in the
fred TO the extent of 81 ,32041.
! In every instance the overdrafts far
outstrip the overdrafts at the end OF
! lfUo. Despite the IdCI tndI IN making
up the annual budget claims were made
/ that the city's expenditures would
keep within the revenues. leaving a
working balance for the ensuing year
/ the report shows that the revenues
from all sources for 1909 were 81, 342, :
/ 755.11 while the expenditures were 81,
353, C90.4S. a matter of $40. 1851 differ
ence, which, added to Overdrafts in
I special funds and the great COB of out
standing. warrants, makes an aggre-
/ gate overdraft that would startle or
/ binary financiers
Interest items High.
The report further shows that the
city paid $1SS, 326.26 in interest on out
standing bonds. AS this interest had e
be met. and as there was not sufficient
money in many of the funds to meet
| the payments, some of the money was
borrowed from other funds, thus add
/ ing to the overdrafts.
/ The uncOllected assessments Of al
kinds of public improvements amount
ed to 81, 1862 6SS.10.
Il The report of the auditor is vofuminy
GUS, and in general it shows just what
was shown by the treasurer's annua
report, issued shortly after the first OF
/ the year. However. in the matter OF