Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-11-08

! over revenue accruals and collections
! is adequate.
management of Sinking Funds.
Much care and attention has been
{ given in recent years 10 properly main
| tanning the sinking funds OF tho city.
| Detailed actuarial computation OF tho
| entire city debt WAS made as 4 part
/ OF this survey. Based on the amount
of the deb, now existing il showed that
/ il the present sinking fund policy or
/ the city is continued an amount Will
/ he produced sufficient to redeem all
| outstanding bonds ut their respective
| dates OF maturity with the exception
which. il redeemed from the sinking
S2GG.ooo Ali other bonds maturing
there will be s,.734.oO0 available for
the redemption of the $2.o0o.oco issue.
In order to produce an amount suiil-
coo which will otherwise exist in 1850,
it Will he necessary to set aside semi
annually hcnceforth the additional sum
Of $2,pS2.
The Annual budget
'Instcad of postponins the adoption
OF the annual appropriation ordinance
until nearly TWO months after tac Eeac
mas pcsum o hE TmdST Inc iT1Sians prn &C
beginning OF the fiscal year. To in
sure conformity with this rccom'nen,,
dattou. the revised charter should
specify definitely the dates for the sue
ccSsivc steps in the development of the
annual budget.
Instead OF obtaining appropriation
requests from department heads with
out uniformity of classification, they
should be obtained on uniform blanks
which would contain instructions and
rulings for 4 standardization OF all
items. Thus ii Will be possible to
make better comparisons not only with
preceding years, but also as between
departments.
Capitalization OF executive rcspon-
shility in the city's government should
be accompanied by the establishing of
an executive budget system whereby
the Mayor would prepare the budget
with the assistance of his department
heads and the City Accountant. sub
defend IL in that body. The present
procedure provides adequately for
Iac City's Finances.
Approximately $SO.GU0 should l.. de-
Quoted from next years appropriations.
The details supporting this rccommcn-
date are shown in the chapter OF
this report relating to The City's
Finances" This reduction should he
effected not only because it is good
business. bu, also To show the good
FAITH OF The latter before any steps are
taken in revising the tax rate. The
report points out certain additional
economies which. if conditions become
acute. can be adopted temporarily as
war measures; also further economies
which can he effected jus; as soon as
the requisite statutory and charter re-
W nm respect 10 revenues. the gas
rates must be Increased ii this NUM-
cipal enterprise is 20 continue self
supporting. The report also cites Ger
MUGS which should be Immediately de-
veloped. But on the whole, if addi-
l ionai revenues are found necessary.
pending revision of the constitution TO
permit the lcNying Of special assess
lncnts, they must come through the
general tax levy.
\ Ia al l,t at.
states which have population OF 49,
ooo To lso'ovO, two have Il higher and
S , = ioWer per capita net debt. y
detailed study OF the financial statistics
oil th&t group and also of twenty-siS
Southern cities shows ;hat as "A rule the
taN rate is comparatively low in those
Tor lorai improvements. and vice versa.
Also that those cities which have large
collections from business licenses show
tendency to lOw tax rates
IN" borrowing margin OF the city IL
amn!e ana care should be taken 10
continue II in the same condition rs
in"Ne cited, The sinking funds have
been well administered and If The
polley - continued Will be su.icicn; 10
pay The c!ty's debt as i, natures.
IN issu!ns future bonds preference
Sn"G!d be given to the serial bond plan
"I!ch prrcIudcs the necessity for pro-
ding any sinking funds The terms
OF future issues should be made to
Ipnt"rin more nearly with tn. life o.,
ia- assets TO be acquired from The p-o-
"vus OF tho bonds
Purchasing Methods.
ne Guy - deserving OF considerable
purchases for departments coming IN.
,,. IN ,he Nv 5urisdietion Of he >d'ninis-
through the board Th. Conirat,
method is extensively used and 10 SON.
event blanket contracts are made for
an a@pAr'incn;s With occasional *.
captions awards are made TO the low
- bidder and there IL fairly good
og'nv"tiilon Tor tn. city'S business In
mus giving cT"d!; for progress made
- GATE Il should not b. assumed ,h,,
1A@ s.t% - buying as cconomically a.
b, should To accomplish the latter
Sb.-tt the purchasing methods should
," further developed and improved as
Taere a.ust be co.nple'e cen,ral!.
"a i.bn 81 ne city's purchasing power.
"3;ii"; specifications mus, De
1t~yaTrd icr me principal i;.ns OF
LILIES. r;rAier!als ANA eQuipmcu, and
t.ni "a as standard 70. AL depart
2. There. mus. be more publicity re,a.
- an rur 'hasing PROPOSALS. BON
'H .pHti--nt aud open market order. 50
10 sc-ur" more competition in bid
aiaHy " me commodities row pur-
OBTAINED updfr contract.
~ suppl" fnHntira The iuSpectlon Jv
Departmental employees made a, III.
F1HyS receiving points, there sholIld
be .naugurat"d = system Of independent
~ p+ni!'n under the supervision Of
i1e city Auditor '"
f"mmissionrr Of Reyepur
IrT'+ti =: appointing; three spe..iai
"-r'-7oFH every iv" years 10 reaes.rs
re- ""iaie, tho aHEosErncnt II ianGg ami
hLict4FE 2hoHld be q continuing rro
t"rs from year 20 year by the C,on-
.h"Sifnhr Of Revenue. Win rev:5nnt
70 "hn"ii"n"c. STAFF ana rnuiu,il.r. I'M,
cinc!al II ~ position TO 10 tn. v.or,-
letter tHan - nossib!. for any, rseess
lH@ hoard. which IS o. rnlist,,,,,
@r""ih "ver% hvc years IN. cn,n
- fa!"n"r sbOuM adopt the ,ion,nnr
%'lt. or similar scientific. table, fn-
~" a"scSsrnc ut nt LAND. as hav. ,boea
cit"s which have made the ,nog, Drog-
'"ts y: ,hc!r asscHsrnen; .sor; ;,.r
'hr same r"aErn. he should also .,Jn,,,
- atl"ntlh!c clhssihcation % ,,lIi!djrr.
uchhitc factor values and depgecl.ti1n
TO aecpre . more equitable val,-
1tI"h as between various yrop.r,i.g L.,
IN" city INC policy Of ilie :.ascs,ji- :. or
hc'r should ho 10 assess "a nca,jv ga
n"aninIc TIC fair market yalpe." ~
required by the constitution 4, ~
present time II iH bcli"vcr that u,,,I,
'ft| ~ beinc recessed ~ Jniy - 10 81
pcr cent thereof ~ ~
'Ilp 30 unli a..