The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1914-09-29
STATE DOES
BUSINESS ON
CASH BASIS
ALL STATE WARRANTS WILL BE
PAYABLE ON DEMAND - FIRST
TIME IN HISTORY OF STATE
SUCH CONDITIONS EXIST.

Oklahoma City, Sept. 2S.-Notice
has been sent out by Robert Dunlop
state treasurer, to the effect that
all state warrants issued on and
after oct. /, 1914, will be payable
at the office of the state treasurer
upon presentation without interest
No interest VII e allowed on any
state war'ar's aGteI that date Thus
Oklahoma goes on a cash basis.
Mr.. Dunlop has made arrange.
ments that on the date named all out
standing state warrants will be paid
through arrangements with deposit
airy banks. All warrants issued there
after will be just the same as cash.
Mr.. Dunlop has been striving to
bring about this end ever since his
incumbency in the office of state
treasurer, He is very glad that it
has been accomplished during his
term, for it gives the state an
unique distinction at this time This
is the first time in the history of
Oklahoma that the state can pay as
it proceeds.
Since 1889 state debts have been
paid with warrants issued in antici-
patton of taxes to be collected. One
years debts were paid with the fol-
lowing years tax collections. 1t has
been the dream of every interested
person that some plan might be
adopted whereby we might catch up.
Instead, we have actually lost
ground. In 1907 funding bonds were
issued to retire this accumulated def
icit. In 1913 the process was re-
peated.
Yielded More Than Expected.
The levy for the year ending June
30, 1913, together with the revenues
received from other sources than
direct taxation, yielded $255, 444 more
than was expected. The revenue for
the year ending June 80 would ex-
ceed the total appropriation for last
year, provided all ad valorem taxes
due are collected. $976,442.S4. On
the other hand, there is an available
balance on Sept. l of this year of
1886, 1859, which represents uneX-
pended appropriation for the last ifs
cal year. The total appropriations
for the last year were $3,947079. Sc,
of which has been expended $3,-
660, ,65217. The state received from
indirect sources $1O01275.97, which
was approximately 100000 more
than estimated The appropriations
for the present fiscal year are $2,-
I95, 5,216.95, to which is to be added
$130,Sl5, the interest on funding
bonds. Adding to this 20 per cent
allowance for delinquent taxes, it
was necessary to make the levy suf-
ficient to cover $3,511,23S.34 The
treasurer had a balance of cash on
hand on Sept. 10 in excess of all
outstanding warrant indebtedness to
the amount of $3.50.
Condition of Revenue Funds.
A statement of the condition of
the general revenue funds, as com
pileH in the office of the state treas
urer, is as follows:
Total liabilities all general reve.
nue. funds. including fiscal year end
ing June 80. 1915, to date of Sept
10, 1914, with interest on outstand-
ing warrants, together with all avail
able appropriations for fiscal years
ending June 80, 1913, and June 80,
1914. respectively sl,275,3I226.
Cash on hand at the close of busi-
ness Sept. 10, 1914, to the credit OF
the general revenue funds for the
foregoing fiscal years:
From nnapportioned taxes $ 26,O00.O0
Fiscal year ending June
80, 1911 ------------ 171,36O.O9
Fiscal year ending June
so, 1912 ------------- 92G95.9O
Fiscal year ending June
80, 1913 ------------- S26,292 20
Fiscal year ending June
so, 1914 ------------- 71S,S9L5i
Fiscal year ending June
so. 1915 ------------- 10, ,O95.23
Cash basis balance Sept.
10, 1914 --------s1,4 ,452, 1884 90
Cash on hand after all LA
bilities are paid ------ 177,02l7o