The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-04
Margin and Budget Different.

Margin and Budget Different.
Also. but entirely aside from the tax
budget and not to be confused with
II, the city's debt margin. the amount
against which ii may issue corporate
stock bonds for permanent non-revenue
producing Improvement. has dwlndled
to less than $40 0C0. 600. Increase I'm this
item is in sight however. to some ex-
tent on January !. and further amount
(due 10 boosted real estate valuations)
In March.
Obviously the budget requests as put
In by the various departments and
branches OF the government must be
cut 10 the bare bone. Even So Comp
troller Craig declares the money ac-
tually required for the conduct of pub
lie business In 1927 il Sc. 0o0. 90 In ex-
cess Of what may be raised under ex-
listing law.
What is to be done? That is the ter
ribly vital question before the Board
of Estimate. Attention will be focused
on It from now until October 10. when
the so-celled tentative" budget must
be in printed form.
The 1890 budget was $273, $50 49, an in
crease Of 100000 over the previous
year and generally considered stag
gering figure.
The city OF New York spent only
SOS. .240.l7 for budgetary purposes in
1903 Then the population of the city
vas approximately 3.5Oo.0oo.
While the activities OF the State OF
New York do not compare In amour,
or magnitude with those of the city,
II may be interesting 10 note an esti-
mated cost Of $125 0c0 600 TO run its gov
eminent for the fiscal year ending next
July.
Following are the totals that make up
the huge city budget estimate for next
year as II stands to-day:
/. Requests OF city departments for
personal service. maintenance and sup
plies s273.437, 206.S5; OF county depart
rnents for the same purposes, s10.5s5.-
z51.15--a grand total of S2S4.023,s2s.
?. Tax deficiencies Of 1920. 1850, 600.
.. Request for non-revenuo producing
improvements IN 1921. S10i.792,627.
4. Debt service. interest on funded
debt and for redemption Of short term
securities. &c. si17.743.944.77.
o. Direct State tax. S22,041,1S327.
Per Cent. Limit In Taxation.
Under the constitution the city FOR
its actual expenses In any one year
nay not place a tax on real estate Of
more than 2 per cent. of It's assessed
valuation. This would mean. with a
real estate valuation Of roughly &c.,
600. 100000 in the city, that no more
than $500, 10000 could be raised for the
above purposes in 1921.
The departmental estimates for main
tenance and the tax deficiency item
(Nos. 1 and y add up TO roughly $3.50
100000. III there Is taken from this
SEQ, 000, 900. the Comptroller's estimate
tor the general fund, always substracted
from the budget before fixing the tax
rate, 10 may be seen where he gets his
figure OF 5000. 900 IN excess of villa,
the city may legally raise.
But the departments are asking al
most y105, 900. 600 for non-revenue pro
ducing improvements. Under the pay.
ss-you-Ro plan these should be included
IN the tax budget. However the cits
has an exemption OF 100000 year
on this item. granted by the Legislature
for the period Of the war and yeai
thereafter. Technically this period has
rot expired. Also, the Legislature al
,ts recent extraordinary session passed
an act exempting all moneys spent 10.
school buildings and sites from the pay
as-you-eo plan.
This would cut out Of the tax budget
$4,000 900 asked for this purpose by III,
hoard OF Education and included In thu
sfO5. 900. Adding this 90 the SIS.
oOO.o00 we get a total exemption Of
'i Il Il & Ind that pay as you go money.
Just ba included In The calculation Of