Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1912-05-21
C|TY'S SURPLUS
IS S42,16O,652
Auditors Report Places New
ark Assets in 1911 at rs IL
Millions.

The annual report for the year 1911 of
the city has a capital surplus of $42. 160,-
652.S2 and a revenue surplus of s65, 459. 05.
The assets are placed at SIS. ass, S56. Go. The
report is the most comprehensive state
ment of the city's financial standing ever
issued and reflects great credit on the
auditors office.
A skeleton statement gives the assets
and the liabilities of the city side by
side. Each item In these tables Is ampli-
fed, wherever necessary, by exhibits ex.
planning them in detail. For example,
under the heading Sinking Fund Cash
and Investments In the table of assets
the reader is referred to exhibit No. 10.
where will be found not only the amount
In the sinking fund on January 1, 1872,
but also a description of every bono now
outstanding.
This exhibit indicates for what pur-
pose the bonds were issued, when au-
thorized by the Legislature, date of issue,
term, when due, the rate of interest.
the amount that has been paid into the
bihhAhB ANAo W y Al OVhu di L
maturity and the manner In which the
sinking FUND derives its revenue. The
bond exhibit is probably the most impor.
tant one In the book and contains com
pletely on one page information that is
frequently spread over twenty or twenty
FIVE pages of similar reports from other
municipalities.
No Item Too insignificant,
There is no item of expenditure by the
city, no matter how small, tha will not
be found in the report. The cost of milk
for the City Hospital or grass seed for
the public parks is there, as we'll as tho
big OUTLAWS that eat up the bulk of the
appropriations. Likewise the city reve-
nue., from whatever source derived, Is
shown.
A comparative statement shows that
the revenue of the city for 1911
was $S.812, 1896, made up of the
general tax levy, the franchise taxes,
the departmental revenues. The ex-
pendltures of the city for the same
period amounted to $500, 79s.ss, COM
posed chiefly of departmental expenses,
interest and sinking fund payments,
permanent improvements, taxes payable
W toohtS tht ~ ahObV ptih P~fotOb-
610.1S. The fact that expenditures are
so nearly the amount of the revenue In
dicates the accuracy with which the
needs of the city were estimated when
the annual appropriations were made.
One of the important exhibits In the
book gives a Statement of budget and
special appropriations, expenditures.
transfers and unexpended balances for
the twelve months. This Is exclusive of
the water department. 1t shows the bal
ance brought forward from previous
years to each department, the approprln-
lions made for 1911, the miscellaneous re.
ceipts of the departments. the transfers
from contingent or other accounts for
the purpose of any department, the ex-
penditures of each department for the
year and the balances on hand.
Street Improvement Cost.
A schedule attached to the report
shows the cost of street improvements
during 1911, the streets or sections of
streets paved. the total cost. the part of
the cost assessed on the city-at-largs,
the part assessed on the property-owners
and the part assessed, If any, on city
property. The headings under which the
expenditures were made, with the
amounts, are also given.
The schedule of assets divides the
property of the city into remuneratlve
and realizable. unremunerative but re-
a~lizable, unremunerative and unrealiz-
able. The first class. includes the water
system, the city dock and the Centre
Market. valued at s1s,S50, 1000. Should
anyone seek more minute information
on the value of the water system he
will find the worth of each parcel of
land held, rights of way and machinery
set forth in specific TENS.
The u-nremunerative but realizable as
sets Of the city are the city parks, worth
more than $3,000,000; the property In the
Board OF Education department, worth
more than 81, 900, 900; the fire department
property, worth about $775, 900; the po-
lice department property, worth about
SSoo,OOO; public baths, Fairgrounds and
miscellaneous property, making q grand
total of $16,611, $3.50. The items that
make this total are given In round num-
bers here, but the figures In the report
are accurate assessments. The unre.
munerative and unrealizable property is
worth S23,6e6. 676.0S, and is represented
by the bridges, sewers. pavements, Mil
tary Park and the pumping station.
Other exhibits in the book show the
advances made for the Passaic Valley
sewer and other improvements In course
of construction. the assets available for
permanent improvements or reduction
of debt. the general city taxes outstand-
Ing less reserve for uncollected personal
taxes, the deferred charges against fu-
ture revenues, the temporary loan bonds,
the funds held in trust, the reserve for
city's proportion of future assessments,
The report contains a consolidated &C.
count of the city comptroller and the
city treasurer to the auditor of cash
receipts and disbursements for the year.
also the tax ordinance and the supple
mental ordinance.