The sea coast echo. [volume] (Bay Saint Louis, Miss.) 1892-current, 1914-06-27

to.......................... 697 3
Warrants paid amount
to.......................... 69f 4
Difference......
Same being due to warrant of tina
amount still outstanding.
FIREMENS FUND S133.53.
This fund calls for a balance of S133 s.
Exhibits "a and 81 showing the Receipt
and Disbursements thereof.
SINKING BOND FUND S7.685. go.
This we understand is a fund created
for the retirement and the payment o
interest on the S50.00000 Municipa
Bond issue, Exhibits "a and 80, shows
the workings of this account in detail
to which your attention is invited. We
are of the opinion that sinking func
for the retirement of the Bonds should
be kept tseparately from and for the pay
ment of Interest Coupons.
BONDS ISSUED.
We find there was issued by the City
the following Bonds:-
S50.000.00 Municipal Improvement
Bonds for building Sea Wall and School,
House, of which $49.000.00 is still out
standing. These bonds bear 51a and {
per cent interest payable semi-annually
Exhibit No. 33, shows the bonds retired
in detail.
100000 Municipal Bonds, for building
City Hall and Jail, St.800.00 of which
are still outstanding bearing5 5 per cent
interest payable annually, Exhibit No
33, shows gin detail which bonds were
cancelled.
S4.00000 School Bonds is now out
standing none of which have been re-
deemed. These Bonds bear per cent
interest payable annually.
We have verified the various interest
coupons paid, and found same correct
We would recommend, that all coupons
on hand attached to redeemed bonds be
cancelled, also likewise all paid interest
coupons, this form ality in some instances
not having been complied with. We
wish to state that our examination OF
cancelled coupons disclosed the following
Interest Coupons still outstanding.
Coupon No. 3. of Bond No. "a, due
January tst, 1914 $500.
Coupon No. 3, of Bond No, 56, due
January tst, 1914 s13.75.
SURETY BONDS.
Attention is invited to Exhibit No. 81,
showing the Surety Bonds now in force.
VOUCHERS.
Vouchers from the year 1910, were
audited and generally with the exception
principally of salaries paid, few vouchers
of other kind appeared missing.
In this connection we note with the
exception of late years, little attention
given to the filing of vouchers, which
should be kept filed by months in regular
files. For the first years of our audit il
was difficult for the Secretary to find
such vouchers as we needed, for pur-
poses of verification with the Warrant
Register.
RECOMMENDATIONS.
We wonld recommend that in the
future each person entrusted with the
| Collection of funds keep coluunar col.
lection or cash book, said book to be
kept in minute detail and settlement oil
funds therein entered to be made with
the Secretary, and that said Receipts be
transferred by the Secretary in his gen.
era1 Cash Book, noting all collections
therein from whatsoever source, that an
operating ledger be installed and ae-
counts opened in conjunction with each
fund, and showing each class ofreceipts
and expenditures, that journal be USED
for all transfers, cancellation of licenses
/ (the cancellation of licenses or bills Of
any other character to be made only by
direction of the Board) commissions etc
That the Mayors docket book, if con-
tinued in use be indexed and that {
record be kept of each case in the form
J of a ledger, recording thereon the dis.
|. position of each fine with voucher TO
each credit other than cash in thi
i ledger. We would recommend also tha
| all buildings, lots OF ground, implement
, and tools, mules, in fact all propertie
of the City, be placed Of record upon til
books.
While the system of accountin,
through the four years Of our audit wa
found deficient, we are pleased to not
; in the last couple Of years, more attent
lion given to detail, the ommission g
which gave ss much cause to complai
in our audit Of the Erst two years,