Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1912-01-31


Total cemetery fund. $500 SO
Cemetery expenses
1910 ...... 1852 d.
Cemetery expenses
1911 ...... :. 16 55- 70 90
Bal. cemetery fund. 49,. 227 So
According to these figures the
three funds should show balances on
hand as follows:
Railroad Bond Fund. 5 1873 SO
School Bond Fund ...,. S62 81
Cemetery Fund 227 80
Total, three funds :. S1,273 II
But what does this financial state
mcnt as published show? Here is
what it says: Cash in banks,
$554.76."
What are you going to do about
It? Are you going to receive it as
information and let it go at that
and begin over again to create sink
ing funds for the bonds and a main
tenance fund for the cemetery? Such
"o""'" e ;" 10 means suggested
bN business foresight, siij; tue citi.
ems @ra tNt,tpl a Z, clear under.
staining OF 5osc M tnrs lad should
demand that these funds 9a pul upoG
proper footing.
There are two other peculiarities
about the statement as shown last
week For instance, in 1910 the
railroad bond interest paid IS given
as s196.6S, and in 1911 as $92.5O.
Why this difference? Was an addi-
tional bond retired and included in
the item marked Interest" in 1910?
If so, it would seem that the Finance
committee should have ordered five
bonds and attached coupons officially
cancelled, and not four.
1t will be noted also that the state
ment does not show the payment of
any interest on the school bonds for
the year 1911, though they were un-
doubtedly paid.
In 1910 there is an item Of 500
paid under the general head of
Schools. in addition to the payment
OF interest on school bonds, and in
1911 the general head Schools" car
ries payment Of $3.50. though no
interest payment is noted. We pre-
sumo that this item Of $3.50 includes
the payment Of the $3.50 interest that
was due in 1911, and should have
been so marked. Assuming that this
is the case. then there should still be
balance on hand, in the three funds
to which we refer, of $1,023.17.
We could not say that the figures
we have given are absolutely accu-
rate, but they are as nearly so as we
can gather from tho published report.
We point out to you the situation as
1T appears to us.
You have the record gentlemen of
the Council, and you owe it to your
selves and the citizens OF Walhalla to
see, ana to show, that these funds
are intact. The published report
does not show it.
No expenditure should be made
from these funds except for paying
interest on or retiring bonds in the
two instances, and in the third, only
for direct work or Improvements on
the public cemetery. These are the
purposes for which the funds were
raised, and, we believe. any expcndi-
ture for other purposes Is totally un-
warranted, If indeed, not Illegal.
These funds should always be in
hand in cash, or in lieu Of the cash
absolutely secure interest-bearing
notes.
Some day the bonds are going to
fall due. What will be the result If,
when that time comes, the bond funds
are not on hand?
These are some things to which
you may we'll give special attention
at your first business meeting.
1t may be possible that these funds
have been loaned out at interest, and
that the published report lacks detail,
thus failing to, show the fact. we