The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-05-27
CITY FINANCES REVIEWED.
Audit of Accounts For Period Ending Dec 81 1915 Sub
mitted to Municipal Commissoners-Report File,
Subject to Public Inspection-Books and Records
Found i'm Excellent Condition.

ouDJeCt TO Z uDAlC 1nSP
Found i'm Excellent Com
DonaIdsonville, La, May s, 1915.
A regular meeting of the commission
council was held this day at $50 p. M.
with Commissioners Walter Lemann and
Frank Milano present.
The minutes Of the regular meeting of
April o were read and approved
Mr.. Lemann submitted the official report
Of the auditor on accounts of the city for
the period ending December 81. 1915. which
was ordered published in the official journal
of the city, as follows:
New Orleans, La. April IA, 1916.
TO the Honorable Mayor and Members of
the Commission Council, City of Dom
aldsonville, La.
Gentlemen I'm pursuance of our arrange
ment, we have audited the books and vouch-
ers of the city of Donaldsonviie for the year
ending December 81, 1915, and as result
Of our audit. beg to submit herewith the
following exhibits and schedules in respect
to the receipts and disbursements and earn
ings and expenses for the past year. and the
assets and liabilities OF the city as on De-
cember 81. 1915:
Exhibit "A.-Assets and liabilities as at
December 81. 1915. Schedule l. Unpaid
Taxes. 1915: Schedule 2. Accounts Re-
Schedule A. Unpaid Taxes. 1913: Schedule
). Unpaid Taxes. 1912; Schedule s. Sus-
apense Account; Schedule I. Certificates of
Indebtedness Outstanding; Schedule 8, Paw
ing Certificates Outstanding; Schedule 8,
Notes Payable: Schedule 10. Accounts Pay
abe.
Exhibit "B''4-Revenue and expenditures
for the year ending December 81, 1915.
Schedule II. Detail of Expenses.
Exhibit "G'-Cash Receipts and Disburse-
ments.
ASSETS AND LIABILITIES.
n. sah III jnIac 10,
10. sNow in detail the assN and liabilities
of tit city, as shown by4your books. on
December 81, 1915.
While this exhibit contains all liabilities
of the city. including the bonded indebted
ness. it does not show any property, except
the wharf building. Please see our report
of March !, 19f53-
UNPAID TAXES.
Schedules /, s, 4, and show in detail the
taxes unpaid On December 81, 1915.
l ACCOUNTS RECEIVABLE.
Schedule shows in detail the accounts
receivable.
SUSPENSE ACCOUNT.
The items carried in suspense account
cover unpaid taxes for 1910 and 1911.
amounting to s276.07. and unpaid bills for
lights and water service, rendered prior to
date at which the waterworks and hight
plant was turned over to the commission
FOR operation, and which are considered un-
coliectible. amounting to S326.92.
CERTIFICATES OF INDEBTEDNESS.
Schedules and S show in detail the GER
tificates of indebtedness outstanding De-
cember 81, 1915.
NOTES AND ACCOUNTS PAYABLE
Schedules and 10 show in detail the
notes and accounts payable, due on De-
cember 81, 1916.
EARNINGS AND EXPENSES.
Exhibit @B q together with schedule y ],
for the year endinss ID December 81 1918.
CASH.
Exhibit &C, shows the cash balance an
December 81, 1914. the receipts and dis
bursements for the year 1915, and the
balance on December 81. 1915. which was
as follows:
General Fund,
On deposit with Bank of Ascen-
sion to credit of gen. funds 40al.a9
on deposit with Bank OF Ascen-
sion to credit int. coupon fd...-. 237.5l
Iess due int. and sinking fund 1890
Total y 4294.45
Less:
oyerdraft. Peoples Bank in Lia....s 996.5O
Amount due interest and sinking
fund by general fund. to cor
1 rect error in distributing tax
collections Dee. 80, 1915, amt.
deposited in interest and sinking
fund. s417.55, should have been
S6S2.15 zo4.oo
sl261.l0
Total 4294.49
Balance. as per Exhibit s.C,'s S 3033.s9
Interest and Sinking Fund
On deposit with Bank of Ascent
siop to credit Of interest sand
On siaAsah delsait with uith Bank of A5 ZEN n
sions@o credit Of interest Soup.
fund, so37.50. less due gem
eraI fund, s2t2.50..-..s......-..--..5 25.oo
On deposit with Peoples Bank
in Liq: Interest and sink
ing fund. s720.54, bond int.
coupon fund. s60...,...---.s 7so.b4
On deposit with Bank Of DON
aldsonviilc in LID bsso.4o
Total ................ do.e5s.ss
AMOUNT due interest and sink
ing fund by general fund to
cover error in distributing
taxes Dec. so 1915, above
referred to So4.oo
Balance, as per Exhibit "C"..-.s l0.9l8.59
All cash receipts and disbursements nave
been verified in detail and vouchers prop
erly approved were found on file to cover
all payments Coupons covering bond and
certificate interest were found properly can
celled. and aggregated the interest paid
GENERAL.
All books and records have been ex-
lmined and were found to be correctly Kept
nd in excellent condition.
Respectfully.
Signed cHAs. e. WERMUTH,
Certified Public Accountant
NJ BLThe above statement incorporates
he various funds and oyerdrafts Wnlen are q.
n suspense in the Bank of DonaldsonVifie
IN Liquidation and in the Peoples BANK :, IN
Liquidation. a fact which may make the
statement appear not in its true hght TO
some of our readers, and which do not ap,
prove of. inasmueh as these balances ana
overdrafts have been removed from tne cur
rent cash book and placed in suspense ac,
counts on the eity.s ledger / therefore call
attention to the fact that the actual avail
able cash balances at December 31. l9lo,
as per the citys cash book, are as foiio#s vs. !.
General fund 4osi. :
Interest coupon fund NiA.oU
Total ........s 42s4.4s
Bond fund .. .....-...-.,.--,.. 296 w
Bond interest coupon fund 2a.oo
Total ......s .......s 2992.9a
Respectfully,
Clerk and Auditor.
EXHIBIT a. (
Assets and liabilities. December 81. 1919.
ASSETS.
Fixed assets Wharf bldg..s.ss-s 2a0a-4s
Trust funds: Cash. S1s,g6l.96:
special tax for 1915, tsched-
ule ~, sI22425.-... ...-.---.... lb,1fs-23 8
Current assets: Corporation tax
for l 9 1 &. fschedule II.
S244s.50;a accounts reeeiya-
| able, tSchedule ~, s2ss.4s;
II r Z, sfr.qS Sffsf ~