The log cabin Democrat. [volume] (Conway, Ark.) 1908-current, 1914-02-25
JUDGE PRINCE ON
MUN|C|PA PAL AFFAIRS
REPORTS ARE DISCUSSED
LEVERETT'S REPORT is A BUSI
NESS LIKE STATEMENT,
HE SAYS.
Editor Log Cabin Democrat:

Editor Log Cabin Democrat:
| have carefully examined the re-
port of the financial committee of the
light and water works business, pub
lished February 16, and also the re-
port of Mr.. f. V. Leverett, published
February 20; and l find the said re-
port of the financial committee very
indefinite, but the report of Mr.. E.
V. Leverett is a good statement, got
ten up in business like manner.
The financial committee goes back
to August 1912, and says E. V. Lever
EFT has collected for lights and power,
since August 1912, $22,669.83, and
that Leverett has issued warrants on
this fund to the amount of 22,657.72,
and says, $4,250.0O of which was
transferred to the construction fund
for remodeling the plant, which leaves
$18,40772, spent out of this fund
since August 1912, that said report
fails to tell where it went.
This committee says Leverett has
COLLECTED from water consumers since
last October, 81 1,3385O and received
from the water-works commission
$4,000, making total of $1,833.5O in
this fund; and that Leverett has is
sued warrants against this fund to the
amount of $1,456. 04, which leaves a
balance from this last fund of 1882. .26.
What were the said warrants to the
amount of 81 ,456.04 paid out for since
| October last?
The committee says, they find the
construction fund charged with $4.-
250.00, transferred from the light
plant fund and $2,599.92 received on
time warrants issued by the council
for this purpose, and that Leverett
has drawn warrants against this fund
to the amount of $6,711.12; and COM
mittee says, deposited in bank; light
plant fund $12.10, water fund $685.. .26,
and construction fund $138.79, making
total of $533.15 now in bank.
AS best l can find from said report,
the city of Conway has collected since
August, 1912, from all the said sources
$27, ,10805 and of this sum, has left
$533.15. That is, they have spent
| $27 ,l08.05, less $533.15. Who got all
this money in the last year and half?
The said report does not show.
| notice said report says, since our
last report August, 1912. Is it pos
sible that there has been no financial
report of the collecting and spending
all this money since August 1912, un-
til this one, on February 16, 1914, by
this committee?
AS | have said, Mr.. E. V. Leverett
had published on February 20 a more
business like statement, in regard to
the light plant and water-works plant
business.
Mr.. Leverett's statement says the
net earnings of the light plant and
water-works plant have been $4,000.
90 in the last % months. Now this
statement is misleading
l take from Mr.. Leverett's report OF
the light plant, viz: "Value received
by city for free street lights $780,
1907" then in the same account he takes
credit for same item $8,350.00, which
balances the account so far as thes,
two items are concerned. This debt
and credit only serves to make a dis
lrlay, and the same account says, viz
Balance on hand February 2,1914
$12.10," which is all that is left from
light plant fund, as shown by his ac
count.
| also take from his report of the
water-works plant, viz: "Value re
ceived for free water for fire protec
ton $7,332.60;" and then in this SANG
: account he takes credit for the same
amount $7,332.60, making balance
as in the other account.
This fine display of double-entry
bookkeeping of Mr.. Leverett is of nc
practical use and benefit, and is mis-.
leading.
Mr.. Leverett in his accounts as set
forth in his reports shows tire follow
ing balance, viz: From light plant
on hand $12.10, from water-works
plant on hand $224.22, and from con-
struction fund S138.79. making total
balance left $375.11." The finance
committee said in their report there
was a balance of $533.15 on hand
which shows $15S.04 more on hand
than Mr.. Leveret's report.
Now Mr.. Leverett's statement shows
that the city of Conway issued credit
warrants of S6,10000 to finance the