The Mobridge news. [volume] (Mobridge, Walworth Co., S.D.) 190?-1917, 1912-08-23
DEBT IS REDUCED
BURDEN ON TAXPAYERS Low.
Erred OVER 100000 DURING
LAST FISCAL YEAR.
OTHER ITEMS OF INTEREST
From the Capitol City, the Various
State institutions and From
Many Different Parts Of
the Sunshine State.

Pierre.-The state treasury depart
ment has just issued its report of the
finances for the fiscal year ending
June 80. By this report the state
debt is shown to be but $5S,SS1.93.
This item in the report for the pre-
vious year was ~s370,153.03, showing
a marked decrease as a result Of the
4 mill levy policy inaugurated by
the Vessey administration. The re-
ceipts from the n source of taxes
for the past year were 1926, 1876,
an increase Of about 5000, 900 over the
previous year, due to the increased
assessment Of the board of equaliza-
ton. The debt on the capitol build.
ing is $404, 979.7 &c, an increase but
a slight one. OF this amount $345,-
34S.7S is being carried by the general
fund of the state and $o9, 630.9S of
warrants are outstanding drawing 6
per cent.
The total balance In all funds for
the close Of the year was 1892, 2S9. 26,
an increase of over $500, 900 over the
vi az NV " ilC lCoi.
OF this amount, $497. 200 was on depos-
it drawing 8 per cent, and $495, 09S.2 6
was carried in the checking accounts
drawing 2 per cent. OF the total bal
ance the general fund carried SAL
1897 and the only outstanding debt
against the general fund was the 1912
issue of revenue warrants, in all
$500, 900, drawing interest at the rate
Of 4.24 per cent.
The receipts in all funds for the
year was S3,779,653.19 and the total
amount of money checked out from all
funds was So, POS ,519.15. Among the
larger sources Of revenue accruing to
the general fund was the insurance
companies tax of $50, 2S2. SO, interests
on deposits for the year, $14,103.31.
The fees Of the secretary Of states Of
flee for the year amounted to $24,-
925.4S. The amount of the receipts in
the maintenance of insane fund was
$161 ,0443S. all of which was trans
ferred to the general fund. The return
over the expenses of the oil inspector
" INC HOlIiltlH ulStl l(l, WnlCH was
transferred to the general fund, was
$~S,542.79; Black Hills, 1870. Against
the item of interest received on de-
post there was paid out during the
year as interest on outstanding gen
eral fund warrants the sum of S13,-
32S.57, and the interest on the reve-
hue warrants was $20,6 25, at the rate
of 4hs per cent. The present indica-
tions are that there will be very little,
if any, interest paid on registered
general fund warrants from now on,
as the balance in the general fund
seems ample to take care of the state
obligation as they become due. The
inheritance tax proved a lucrative
source Of income, bringing in $16.-
1927, an increase Of about $l4 900
over the previous year. The Taylor
defalcation fund was increased by
S480.27 income on the land set aside
for that purpose. The new depart
ment of the executive accountant was
responsible for the saving of $46S.57.
by discovering o~verpayments and
o~vercharges in examination Of the diff
ferent state Institutions.
The report makes a very creditable
showing for the finances Of the state
and indicate clearly that it will be but
a short time before there will be no
debt on which the taxpayers will be
required to pay interest.