Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1920-11-05
CITY C0MPL|MENTED
BY STATE EXAMINER
I'm Exceedingly Good Financial Con-
dition," Says State Examiner in
Lengthy Report, Following
Examination

That the city of Pullman Is in the
front rank of towns of the Northwest
in financial condition and efficiency
OF officers is the report of J. d. Bas-
sett state examiner, with the bureau
of inspection and supervision of pub
lie offices, who just recently COM
pleted an exhaustive examination of
the city's affairs. In his report,
which covers 33 pages, the examiner
says, in part:
The City of Pullman is in ex-
ceedingly good financial condition.
1t has been on a cash basis for sew
eral years, has a good water system,
good city hail. park, swimming pool,
sewers and we'll improved streets and
sidewalks. Within the last six
months it has called the last of its
warrant Indebtedness of 25 years
ago. It's only general bonded indebt-
edness is a small obligation for the
balance of the cost of the sewer and
a new issue of SIS, 900 for street
paving not yet sold but to be taken
by the sinking fund. The water
bonds will doubtless all be paid by
the water fund,
The clerical work of the city Is In
the hands Of the same clerk and
treasurer as for a number of years
past, which insures good bookkeep-
ing and proper supervision of the af
fairs of the city. The accounts are
70 Of MT
and disbursements are on file and
needed papers are very accessible.
The books are ample and mostly in
form prescribed by the bureau The
treasurer reports monthly TO the
council in detail.
The water system is we'll man
aged and showed a profit for 1919
OF $5974.10 without allowance for
depreciation, The surplus to the
amount Of $4,000 has been trans
ferred to the bond redemption fund.
All bond interest Is paid by the water
fund. No acceptable basis has yet
been arrived at for payment from the
current expense fund for water used
by the various departments OF the
city as required by section 1884
Rem In view of the good financial
condition of the wcter fund and the
general satisfaction with the present
water rate, this charge need not be
large but should be fixed and paid
at regular intervals. The boOkkeep-
ing of the water department under
classification b adopted at the last
examination has been continued in a
very satisfactory manner by the
clerk. The books of the water de-
partment were checked over, closing
entries made for 1919 and those for
1918 revised and a trial balance
started to be maintained by the clerk
at regular periods. Water payments
are somewhat delinquent and special
efforts will lie made to bring them
UP to date.
The bond redemption fund
amounts to $14,497.53. The only
income for the past year has been
1920 for interest for a year on
$4,000 invested in a certificate of de-
post in a local bank No income
whatever has been received on the
fund since the certificates were taken
up in March, 1920 The council
voted to purchase for the fund the
issue of 81 1000 of road bonds au-
thoriZed by vote of the people March
z, 1920. These bonds have not been
delivered and probably will not De
until next spring. Meanwhile this
large fund must be invested in bank
certificates or in permanent legal Sc
curities which can easily be obtained
to net six per cent.
ness fund amounts to $5,047.96. The
estimated amount required to pay
the balance of the warrants TO be paid
by this fund is about $3.50, with IN
terest to date of call.
The financial report shows total
assets for the city aggregating S495,-
1887, not including the city Gem
etery, just recently purchased The
items include cash on hand in the
various funds to the amount of SEA-
SS6; uncollected taxes, s9,577; city
hall, jail, fire station. parks, S37.-
$50; swimming pool $500; equip
ment, street and fire departments,
S5,307; office furniture and fix
lures, $1,245 permanent improve
ments, including paved streets. ce-
ment walks, sewers. etc, S312.9O1;
net assets, water system, $103.SS1.
The liabilities column includes
S4,064 in general sewer bonds and
current expense liabilities.
s5,414, and $1,939 in warrants, for
a total of $11,417, leaving net as
sets of S484,332. The general bonds
with interest, total
sS5.353. with s14.99O on hand to-
ward their payment. The city, ac-
cording to the report. is within the
legal limit of indebtedness by vote
Of the people TO the amount of s101,-