The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1914-10-26
SLIGHT DECREASE IN
|G|TY DEBT SHOWN IN
FINANCIAL REPORT
BONDED INDEBTEDNESS ArLAsr
BROUGHT UNDER THE
100000 MARK.
REVENUES ARE DECREASING
As EXPENSES INCREASE
school Fund and Water Fund In a..+
Condition Of Any Of the speeia,
Funds-Gensral and Street Funds
Show Small Balance to Begin Year.

A very slight decrease of the city's
indebtedness, very small balance in
the general fund and somewhat more
encouraging balances in other special
funds are features of the financial
statement for the City of Hattiesbugr
for the year ending September 80,
which has Just been completed by Com.
missioner A. Farley.
The report shows that the bonded
Indebtedness Of the city has been de-
creased during the year by $2,OOO. The
city's bonds now outstanding amount
to $699,j00. A year ago they amounted
to $70l,jq0. Offsetting this decrease,
however, is the fact that the total of
the balances in the various funds on
September 80 of this year was ST.
596.40 less than this total was a year
ago, so that the city is really just about
$500 better off than it was a year ago
Maintaining the various departments
of the city istration-meeting
the current expenses, paying the inter
est on the large Indebtedness and max
ing Improvements which appear to be
most necessary, is no easy task for the
commissioners. The greatest draw
back, of course. is the interest on the
bonds. During the year just ended the
commissioners paid $34,06S.75 interest.
When it is remembered that the to-
tai revenues of the city amount to only
about 100000 year, it will be seen
what big percentage of these reve-
nues must be appropriated to interest
on bonds and other debts contracted
under former administrations.
-, Face Perplexing Situation.
In addition to this 1t is fact that
the tax assessment of Hattiesburg is
growing less each year. This does not
necessarily mean that Hattiesburg Is
not worth as much today as it ever
was. but the authorities realize that
many of the values entered in previ-
GUS assessments were based on pos
sibilities rather than selling prices,
and the assessment on many pieces Of
property that are just as valuable as
they ever we're is considerably less
now than It has been in the past.
Then. too, as city grows the expenses
Of its government increase. All OF
which means that the commissioners
face the problem Of constantly de-
creasing revenue and constantly in
creasing expense account-not very
bealthy outlook for any business con-
cern.
The general fund this year amounted
to $50 10000. OF this amount $685.
.x1sse was spent for salaries and other
general expenses; s11,4S2.16 was
,nent on the police department; $s''
a9e14 in the fire department and
a ass as in the sanitary department
Having balance on hand of $S97.9S
last wear the balance was s97l'45.
School Fund Healthy.
Tho school fund this year SHOWS
balance OF s79O.23 against an over
draft last year of sS21.95. The schoo
fpnd also owes the bank $500 less no"
than II did a year ago. Two OF th'
reasons for this healthy condition II
tho school fund are more liper"
~.o.o concentration and slight decrease
in the salary list.
The street fund is In Just apou' -.
80 condition as it was last year
Thn % balance on hand is only ssS'SS
rhis fund perplexes the commissioner
more, perhaps, than any other as ~ ~,
.oyonres are far too small to meet TN
needs of street Improvement
The water fund, as usual is III
,oo,.hv condition. Water rents tni
aast vear amounted to $1S,4S2'oo' al
tinerease ~ over last year of more ina
js,ooo. The commissioners nave so 60 .
rsnded out of the water fund sS'2S4.S =,
80 hn,,sings and extensions and stll
hova a balance on hand OF sS''z4'o1
start the new year with
,continued on Page Twoo