Evening journal., 1912-08-16
OWE CITY
MUCH TAXES
City Auditor BiddIe Reports
Amount Outstanding at
$4,000
FUNDED DEBT IS
NOW AT S3,05l,lOO

Ciiy Auditor Biddie, in a communi-
atOn 10 City Council lnclosing sew
rad schedules. last night, gave the
cnbers O. that body a concise state
n1t of the finances OF the city. the
Mos submitted by him having been
rom the books In the auditors
Tie report was for the fiscal
c., ending June 30. last It fol-
Herewith ! present to you my re-
on the financial affairs OF the
for the fiscal. year ended June 30,
n,own by the books of my oihce,
n 1os certain schedules, setting forth
In\nSot tail all the expenditures Of the
citEnnfor the said year, which were
plaked in the hands of the clerk OF
Council on July 30 in conformity with
ihe requirements Of the ordinance OF
December IA, 1907.
.'The general balance sheet sets
forth the assets and liabilities OF the
city and an actual surplus, the excess
nf actual assets over actual liahii-
lies. of s2S5. .067 "A. which amount /
nave obtained by eliminating all the
accounts which are used for book
keeping purposes only and have no
actual value, as indicated and noted
on said sheet
.sFor strict accuracy this surplus
would be reduced by charging against
Il the accrued interested on bonds
outstanding on June 30. which
amounts to about S35,760. but ] have
considered this offset by the absence
of valuation on the public park az
Eighth and Broome streets and by the
value of materials In hand on June
30 in the several departments, such
as coal. paving material. water met
rrs. etc. Of which no report was
made.
'sThe receipts over collections OF
taxes pertaining TO years previous to
Julv 1. 1911 amounting to S95,Sl49O
and this together with the allowances
made during the year by Council for
errors and attachments for the years
1908 to 1909, inclusive, aggregatine
s42. .SO9.S0. has effected very ma
lerial reduction of the sum Of such
taxes still outstanding which is nov
shown as S13O, ,230 40. The unpaid
taxes for the year ended June 30
1912, amounted to SOC, ,7S420, making
a total unpaid of 1927 ,01460."
One OF the schedules submitted by
the auditor in his communication sess
forth the bonds and mortgages Of fire
engine companies carried as assets
TO which he has previously referred
and invites Councils attention
Another schedule sets forth the
valuation of real estate, buildings anC
equipment, amounting TO $685. 400 S2
A revision of the valuation pertaining
to the Council account and an inven
tory, setting forth in detail not onl,
the properties but also the furniture
fixtures and outfits pertaining q
each, the auditor sets forth would in
sure greater accuracy and be usefu
for insurance purposes, and he re
commends that such a revision an
inventory be made by a committee @
Council. or by experts engaged 70
such purpose. and that he, the aud
tor, be authorized and directed to aC
Just his books TO agree herewith.
Another schedule sets forth th
funded debt which was increased
S40.250 in the year and now amount
10 $3,S51 100, so as to show th
amount maturing in each future fl
cal year. The auditor states that
must be remembered that the fun
debt covers large expenditures fc
street paving and sewer buildin
amounting probably to $1,000.O00 {
more, which have been charged fro
time to time as expenses and whic
because such Improvements have r
merchsntable value. have not bee
and cannot properly be shown as a
sets, though they greatly enhance Il
value of the city as a city. Other e.
hibits and schedules were submits
which the auditor stated requires I
special comment