New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1920-04-14


apportioned to the following accounts:
Street fund -. $14, 9O820
Fire department fund -... 4,174.3O.
Park fund 2,981.64
Cemetery fund 2,981.64
City hall fund ..-..........-...-.-- 19,976.98
Interest and sinking fund $1,000. IL, 224.72
Total tax levy .-..-.-.-.-.,...,. $57, 247.48
Current Funds in Banks.
The current funds in the banks of the.
city at the close of the fiscal year, Feb.
20, 1920, totaled $5,37l.92. The Ger
tiicates Of deposit on hand amount to
ST., 679.34 and represent the cash
balances of the following sinking and
trust funds: Electric light sinking fund,
SO go; cemetery trust fund, $4,000,
and interest and sinking fund, 81, 102.74.
Bonded indebtedness $lO5, OG0.
At the time the audit was made the
city's bonded Indebtedness was sos, 900.
During the past fiscal year the city has
decreased its bonded indebtedness
$50, 900 by payment Of $4,000 of electric
light bonds and $4,000 state loan from
the administration fund. The amounts
and the time Of maturity Of the several
bond issues still outstanding are as
follows: Sewer bonds, due April l.. 1921,
$4,000; state loan, due July 1, 1920,
$4,000; state loan, due July l, 1925,
$4,000; state loan, due July /, 1927,
$4,000; state loan, due July /, 1928,
$4,000; state loan, due July; /, 1881,
$40, 900; state loan, due July /, 1882,
$40, 900; state loan, due July 1, 1884,
$4,000; state loan, due July /, 1887,
10000. The excess value Of property
and plant over the bonded indebtedness
Of the city is $685., 854.71.. s,.,
S Electric. Light Department.
The. operations Of the electric light de-
partment for the fiscal year ended Feb.
%, 1920, disclose net income of $24,
317.S1., The income from light, power;
meter rent, city departments and sales
of stores and supplies amounted to
$55, 974.09: The expenses aggregated
s31, 656.7S. The difference shows the
net income enumerated aboves The
income from this source is. derived from,
private consumers, SAG, 8.55; city de
partments, $8,304O5; gross profit on
sale Of lamps, $23.41 and sales of stores
and supplies, $s58.08. In considering
the net income, it should be kept inamind
that there; has been nothing charged off
for depreciation. ss5Qs
Balance In Working Fund 81
There was balance in the electric light
working fund account Of $27, 242.63 on
Feb. 20, 1920. The balance found in
this fund March I, 1919, was $16,411.B,
and added to- the net income for the fiscal
year ended Feb. 20, 1920, of $24,3H3l,
totaled s3s,056.4s. Deductlng capital
expenditures Of $4,000. 95; transferred to
electric light sinking fund, $4,718.45i
net transactions for March, 1919, written
back; 81, 672. SO, and less net transactions
for March, 1920, 2,48s.45, totaline
$l1,813,85, leaves. a balance in the fund
Feb. 29, 1920, of 27,242.63.
In the sinking fund of this department
there were 81, 574.35 on Feb 80, 1920
This amount was made up Of the follow
ing sums: Balance in fund, March 1
1919, $50, 1851; transferred from work
ing fund, $4,718.45, and interest or
deposits, $1,000, making a total Of
SAL, 574.35. The sum of $50, 900 was
paid out Of this fund to redeem electric
light bonds in this amount, leaving 8
balance as enumerated above.
Water Works Department. Il
Under the head Of income and profit
and loss account for the water works
department, the financial statement
outlines that on Feb. 90, 1920, there wa
net income Of $2,948.87 in this depart
ment The total income Of the plan
during the past fiscal year was $18, O89:29
which included water service, hydran
rental, profit on meters and meter re
pairs, rent Of tapping machine and specia
assessments for Center street mains. Tn
expenses were SIS, 140.42. The return
Of this department are divided betWee1
the commercial consumers, $12,,747.9s
and the city departments, S690.30. TIL
|hydrant rental was 81, 322.5O. The othe
items are small. The largest item in tn
yearly expense was that of fuel, Whic
amounted to S7,867.76, somewhat NOR
than the previous year. The salarie
and wages Of the perintendent, eng
neers, firenen, meter reader and repai
man aggregated $3,605. Supplies an
general expenses totaled $1,696.92, an
the repairs and renewals amounted t
$894.72. The net income is arrived q
before making any charge for deprecis
tion, as is the case in the electric ligh
department.
| The working fund department of th
water works plant was overdraWn Ma
u, 1919, in the sum Of Sill 24.19. Th
net gain in this department for the pas