The Bridgeport times and evening farmer., 1921-05-11

There are no data available re- gardlng the inventories of materials
 and supplies on hand in the various departments of the city, and while
 it is probable that the total value of such materials and supplies aggregate e
 a considerable sum, the balance sheet does not reflect this condition. | The amount stated for land, struc- | lures, other Improvements and equip
 ment is approximate only and does not purport to be the correct value or cost of city property. The figures
 were compiled from the records, talk ing as starting point the inventory
 of city property shown in the 1916
 such assets by the auditor, it would
 require an analysis of the expendi- | lures since the city was organized to | secure information aS to cost Present
 is a matter of appraisals rather than | accounting.
 The amount shown as a liability for
 accounts payable was arrived at
 after January 1, 1921, from reports
 made by department heads at the re- | quest of. the mayor and upon infor-
 nation secured from other sources.
 No attempt has been made to show
 the accrued interest due the city on account of past due taxes and assess
 ments receivable.
 THE FUTURE
 !
 mitted in connection with the appro-
 priation accounts and one to show the | status of the capital fuds.
 The two statements relating to ap- lpropriation accounts should be con
 sidered together-one is prepared
 upon a cash basis and the other upon
 revenue or accrual basis.
 The reason for preparing two state
 bursements are the only elements considered by city officials in connec-
 tion with city finances.
 The accrued basis represents the correct method of reporting upon the present status of the annual estimates as prepared and enacted into law by the Board of Apportionment at the
 beginning of the. fiscal year. | The difference between the two statements as prepared is due to the
 inclusion in the accrued statement of l the taxes receivable which are con | Sidered to be good and cOllec6ble and accounts payable for services rem
 dered or materials and supplies pur-
 chased and delivered to the City prior to December 31, 1920, which were not paid for on that date
 1 The difference is reflected by the
 surplus shown on the two statements, as follows:
 tUnappropriated Surplus, Cash Basis. $16S. S.312.97 lUnappropriated Surplus, Accrued Basis, S743,722.41 l Attention is invited to the item of l to
 Tho total cash, less outstanding | cheques, in the hands of the City Treasurer on January 1, 1921, as
 shown by the balance sheet was $5S9,-
 479.56.
 All cash, whether the proceeds of | taxes. the sale of bonds or notes. or
 belonging to trust funds is dumped into one pot without segregation, ex- cept with minor exceptions. l To come to any conclusion regard l ing the status of affairs, it was neces- sary to segregate the cash balance on 1 hand January 1, 1921, to snow the
 amount received from taxes and mis- | ce1laneous revenues which could be | expended under appropriations, and l the amount received from the sale or
 bonds and notes, or the collection or 1 sewer aSessn ents. which could only l be expended for capital purposes not l included in the budget and the amounts pertaining to special or trust 1 funds.
 | An anaiysis of the accounts showed | that the total cash on hand was de- l rived from the following sources:
 From taxes and general city revenues --..-.. -$294 -95 Capital funds .--------- 22S,73s.2S | Trust funds .--~--.. 16,391-5S Total $5ss, ,47s.56 | The amount o1 free cash on hand which could be included in the est1- | mate of miscellaneous receipts m making JED the annual budget has all
 wavs been a matter of conjecture. | The president of the Board of Ap- portti onment and Taxation stated that | he had never been able to secure m l formation as to the amount of cash on hand available for appropriation | for inclusion in the budget. and an l examination of the bRdgets Of the city indicates that the cash balance | has not been included as a nlsceifan- l eouS revenue.
 l There is no question but that the
 available free cash on hano IS proper item for consideration in mak- | ing up the budget Certainly there is no better asset that can be used | to pay bills incurred in accordance with appropriations made. | The unappropriated surplus is ex- 1 plained in detail by the analysis of the
 surlus at the bottom of the state | ment.
 Attention is also invited to the net
 April 1, 1920, to January 1, 1921. This increase is partly caused by the cred ting of collections direct to appro- priatfons.
 The budget of the city for the fiscal year 1921-22 was modified as to ar engagement at my suggestion The
 matter of including cash in the es- discussed with the president ofo the Board of Apportfonment and Taxation, | but owing to the lack of time for proper consideration, it was not in cluded.
 Revenue:
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