The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-01-02
FINANCES
N BETTER SHAPE
Overdraft in General
Fund Reduced Sill
004. Is in Past Year

The city OF AlnuuutrQue begins thc
new year n materially better financ-
inl condition than al any time during
recent years. within sixty days, ac-
cordinr 60 city Manager A. II. Heben-
STREET.. the ciiy's ~lonestanding over
draft nj the bank viii have becn paid
or. interest and sinking funds Will
be completed TO requirements and
funds will be available TO meet an
current obligations as they become
due.
A year ago today Albuquerque had
IN ~overdraft Of tie.ees.sf IN rs gem
erai fund. Every dollar Of The water
department income fund was turned
over 70 the general fund.
This year the water department
fund shows a balance 81 t1.Ofb.22.
Mr.. Hcbenatreits annual report Tor
1919. now nearing completion. will
give the public every detail OF the
ON a Cash Basls.
The report viii show the very satis-
factory act that the oVerdraft In the
general fund, approximately $4,000
m The end Of 1917; / g.aab.gt az the
end Of 1913, a. now only ts,2it.i6,
having been reduced t11.Sst.is dur
Ing the year just ended. This over
draft. Mr.. lfcbenstreit says, viii be
wiped out completely when the first
taxes come In next month and before
tho first Of March he expects TO arr
rive AT the goal Of a firm financial
basis In city affairs. ready 20 meet
current obligations as they come due.
During the year $4,000 has been
added to the city's sinking funds. thus
reducing the bonded debt by an equal
amount.
Improved conditions In city finances
n city manager said today. are a
% two main factors. The water de-
partmont has proven the citys H.
The other, Mr.. Hehens;rcut says, is
the fine spirit of cooperation thai has
existed throughout tho whole city
government organization. From the
commissioners TO the ianitur. he says.
an have worked together In an effort
20 sec that the city got a dollars
worth Of service for evcry dollar ex-
pended.
Except for this loyalty and CO.
operation the city could not have been
where Il is today the city manager
asserted.
Dtsusscs Tnx Levy.
"Thc city's part u the tax levy OF
last year wal . mills. This year D.
city's part IL lis mills. an Increase
In tho general taxation or &c mills
Tie extra two mills, the city man
aeer stated this morning, IN for the
purpose n replacing the saloon rev
enue. The six tenths OF a mill II 70
cover the shortage In interest and
sinking fund due 10 the reduction OF
: million dollars In the valuation %
tho Atchison. Topeka and Santa Fe
raiiroad. Therefore. Mr.. Hebenstrelt
points out. OF fhe total Increase Of
i0.5 mills In IA, ttion this year. only
80 mills are on accoun ~ the city.
an dthat Increase II due to the loss
OF the saloon revenue aad the reduc-
tlon % the Santa Fc's valuation.
The venue IN the police depart
ment. The engineering department. the
building department the health de-
phrtment. the water department ana
the cts clerks office nave an, In the
year Just closed. slightly exceeded the
estimated by the budget
The only source OF tho city-s revenue
that 40 not come up 20 tho budget
figures was taxes, and the revenue
from axe was about $4,000 less than
expected for the budget