The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-07-22
WILLIAMS COUNTY
PUT ON CASH BASIS
County Treasurer Hanson
Has Inaugurated a New
System of Bookkeeping.

Winston, july 22.--Williams county
is now doing business on a cash basis
so far as current bills and unregister-
ed warrants are concerned. This does
not mean that the county is out of
debt or likely to he out for some time
Vet. but it means that the owners of
warrants just issued can get full face
value Tor them at nee no discount. no
delay, by presenting them at the coun-
tN tTeasurcr's Office.
This order o. things was Instituted
by County Treasurer Hanson on July
=. His plan is unique and entirely
orlGlnaf with him. So far as known
IT has not been attempted i'm any 9TH
er county of the state.
Ihere is always a working balance
in cash to the credit of the county
IN the different banks whore the funds
are kept but outside of a few
such as he payment of salaries il is
not considered available to meet war
rants drawn for current expenses he
lce'S" there are outstanding warrants
registered that must he taken I'M from
tim" to time. Therefore the holder of
a warrant Just drawn takes it to n
nank or so~ac individual and allows
them a discount of from five to ten
per cent for the sake OF getting his
cash at once. The purchaser of he
warrant takes il to the county treas
nrer and has it registered and it begins
to draw interest on its full face at I
per cent. Under the new system the
holder OF n warrant takes it to the
treasirers office. receipts it and gets
the fun amount in cash or in a cnecl.
On a bank holding county funds,
lher" is no discount and the s4vins
effected to individual creditors If he
county in the Cnurse of a wear ny this
plan is estimated to be approximate
~ $500.
The warrants thus cashed are car
RED as cash in the ~treasurer's vault.
For bookkeeping and auditing purpos-
es they are the same as cash because
they are the county's own promise to
pay.
When these warrants have accrmu-
lated to such al amount that the act
ual money is needed for other rur-
poses they will be sold at par to con-
Germs With whom Treasurer Hanson
mas made arrangements.
The moneys received by the county
will be credited to the funds to which
1t belongs at the end of each month
as usual and registered warrants will
be taken up just as rapidly as at pres
ert which is whenever there is an
nNaiiat'l" balance in the general fund.
When a block of warrants has been
sold they must then 30 on the war
,'-+'| "ii' " " dldN ME-
est at the legal rate of I per cent. In
the meantime there is a saving to the
county OF four per cent on all the
money used by the county to cash
these warrants. The four per cent
representing the difference between
the three per cent interest the banks
would have paid on the money used
to cash the warrants and the Z per
cent interest the county would have
been compelled to pay if the warrants
mad hit the register" as soon as pre-
sented. This will amount to several
hundred dollars in a year.
The purpose and effect Of the nlan
will be three fold:
a convenience and saving in dis
counts to the people the county owes.
"A constant saving to the county Of
four per cent in interest on the total
OF unregistered warrants carried as
cash and it is possible that the treas
urer can carry 100000 Of these war
rants continuously.
business Of the county on a cash basis
which alTays works to the advantage
and economy of any institution.
The new system is Very popular so
far IS 1t has become known and dur
Ing che brief time it has been emplov-
ed the ~treasurer's office has cashed
over $500 in warrants, saving the
holders in some cases ten per cent dis
count.
This appears to he a valuable and
practical plan that other counties
would do we'll to consider.