Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-09
NO OCCASION FOR ALARM
AS TO C|TY's FINANCES
auditor Crenshaw Says Rigid Econ,
omy Is Helping to Reduce
Deficit.
BEGAN YEAR WITH BIG DEB1
BY Practically Stopping All Street.
Improvement Work, City Finan.|
ciers Hope to End This Year With.
out Increasing Floating Burden,

While the city's finances arc still,
fceiing the strain OF the heavy deficit
which was inherited from last years
prodigal expenditures. the fiscal stu
alton. according TO City Auditor Crcn.
shaw. is reasonably satisfactory The
Administrative Board has this yea,
followed policy OF rigid economy.
The total amount Of new street i'm.
provemcnt contracts awarded by the
board this year said Mr. Crenshaw
yesterday, will hardly exceed 0.OOo.
| estimate that the board VIII have &c
spend at least $4,000 more for street,
repairs. etc, and about $4,000 for the
Improvement of Fourteenth street
This VIII about cover the boards new
street improvement expenditures foi
this year.
STREET WORK CUT
TO BONE THIS YEAR
when II lis borne in mind that dur
Ing 1914 the Administrative Board exI
pended budget appropriation oil
100000 and most OF 100000 provided
by special bond Issue. for street i'm :.
pro"ements, the amount devoted to thi,
purpose this year appears remarkably
small. While the amounts applied ttl
new work this year have been SMALL
a large amount OF work has been dont|
under contracts that were awarded
last year. The overlapping contractr
amounted to $4,000
." In the balance sheet struck by thd
budget makers Of last February th,l
$4,000 for which tho city was l!abls|
for partially executed street improve
ment contracts appeared in tho tota
deficit OF 35i7,G04 with which the citH
began business this year. The boare
has had al It's disposal for street i'm
provements this year about S277 .0Ooj
Tho greater part OF this sum has beer
applied to tho payment OF contracts
carried over from the preceding year,
There is no occasion fog alarm,
said Mr.. Crenshaw. las far as ,h!J
ofiice is aware. both the Council and
tho Administrative Board are eXercisi
ing reasonable economy. That doeJ
not mean that we should not continu1
10 retrench In every possible direction,
There cannot be too much economy
Both the Council and the board cona
tributcd to the over-eXpenditure Cd
last year. and We are st!ll carrying thd
burden.
ANNEXATION CAUSED
UNEXPECTED DEMANDA
ITO the big deficit carried ovcr from
last year must be added about S2l2,oOI|
which we have spent this year in thH
annexed territory, and which was NOD
anticipated By the budget makersI
This money had TO be taken out I'd
the current revenue. Then there haq
Dech ShrlnEaEe IN the City'S rcvcnu5
receipts OF s2o6.5?J57 as compared
with the receipts last year. The Shortl
age was caused by the operation Oh
the new tax system. and will probably
be made up by increased revenue1
from other tax subjects. TRANSFORMED
by the new law from the State 10 thu
city. before the year is over.
Nevertheless. these shortages and
unlock editor expenditures have to IL
met out OF the current revenues. AM
the only thing We can do is 10 boT1
row from the banks until we can rc,I
coup from our collections Ry the TIM
the next budget makers get TO wor,
tho situation Will be clearer. OF thi.I
tho city may rest assured: there WIN
be deficit at the beginning OF neX,l
year just about as large as the dehc 81
with which we began In 1915. II II
impossible TO retire shortage n[
$4,000 in one year or two years. whe j
extra demands not anticipated by thu
makers OF the budget, such as, for ex,I
ample, the annexation expenditures:
are constantly turning up. Perhap,I
when the new assessment increases oWI
revenue we will be able TO wipe par,
of the deficit out" \