The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1915-02-04

large daily balances n the hands Of
the county collectors. From these bal.
ances the public is receiving nothing.
It is estimated that IL the several
counties were receiving interest upon
these daily balances, at the rate Of
three percent the counties would re.
Iceiye at least one hundred thousand
dollars annually. To my mind, there
Eis no reason why there should not be
county repositories. Not only would
the public receive this large amount
of revenue and return from It's own
money. but in. addition thereto many
evils that the accounting laws have
revealed would be done away WITH
Has Governor'a Endorsement.
The bill has the unqualified endorse
ment OF Governor Hatfield. In his
regular message to the legislature he
Recommended this measure, Saying:
1.-THE state accounting department dis
closes the fact that there is generally
a large daily balance on hand collect.
ed by the sheriffs OF the respective
counties, and from these moneys the
county receives nothing for the time
THAT It lies idle In the different banks
where It is deposited by the sheriffs.
at Is estimated that II a depository.
law was put into effect the several
counties In the state would receive q
total sum amounting to at least one
hundred thousand dollars annually. II
lthees assets were accounted for. pos
sibly the results which are sometimes
Experienced at the present time would
I,a& aaaUr no1 4ot tho 90 mo ttne the
citizens OF the counties would be re-
ceiving at least three per cent return
upon their money.
~ can see no gsod reason why a
county depository la wshould not be
passed, and l can see no good excuse
why anyone should object to the
same"
Interest on Daily Balances.
Section OF the proposed act pro-
Eyides that all money deposited In any
depository shall bear interest at the
rate OF three per cent per annum, to
tbe computed on daily balances. and
such interest shall be placed to the
credit of the county treasurer on ,ne
first day of each calendar month. or
at any time when the account may be
closed. When the interest is credited
ito the treasurer the depository shall
in writing, notify the clerk Of the
county court and the treasurer each
separately the amount thereof before
noon Of the next business day, and all
iof such interest shall be credited TO
tho general county fund by the clerk
lof tho county court and treasurer.
AThe following section provides that
on the first day OF each month q
county depository under the proyi.
sions Of the act shall furnish to the
clerk Of the county court a written
statement showing the amount on de
post toithe credit Of the county treas:
.Iurer at the close OF each day OF the
preceding month, which statement
shall be filed and kept in the otfice Of
the clerk Of the county court, as part
Of the public records.
The bill provides that the treasurer
shall keep an account with each do
pository, showing each deposit and
disbursement; the depository upon
payment OF any order or draft drawn
by the authority OF the county court
or board Of education on the treasur-
Ter, and endorsed by him for payment,
or upon payment Of any check drawn
lby the treasurer for the purposes au'
ithorized by the law, shall cancel the
same, showing clearly the payment
thereof and the date Of payment.
The term public moneys" as used
lin the act includes all money which
Iby law the sheriff in his capacity as
such and as treasurer Of the county
and districts Is authorized to collect,
receive, and disburse for public pur-
poses, including state. county. district.
school districts, independent school
districts and municipalities. The
term county court" shall include all
tribunals in lieu thereof.