New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1921-04-20

clerks office. Only three of the city
funds show a net balance, namely.
sewer, park and public cemetery, while
six are listed as being overdrawn.
They are: Electric light, waterworks,
administration, street, fire depart
ment and city hall funds.
Profits Cut $6,479.75.
Another significant fact brought out
in Mr.. Hartman's report, is that the
profits OF the electric light and water
works departments were s6,s79.75
less last year than in 1919. The for
mer department shows gain of $780,
947.33 for 1920, as compared with
$24, 317.31 for the previous year. which
is difference of .$3,369.98, and the
WaterWorks department was operated
at net loss Of $4,000 during the past
fiscal tWelvemonth, while in 1919 a
net gain of $2,948.87 was recorded.
What makes this showing all the more
is the fact that nothing
has been charged off for depreciation
on the machinery and equipment of
either OF these two departments.
Tax Levy Was $74,os3.15.
In view of the fact that last wears
tax levy aggregated S74,po3.l5, 1t is
rather difficult to increase this source
OF revenue sufficiently to overcome the
overdrafts, unless the effort is spread
over period of several years. Many
taxpayers are of the opinion that the
peak has been reached and that it is
up to the city council to find some
way OF retrenching it's expenditures to
meet tt present and future exigencies.
thus adoiyding any further increase in
the tax burden unless absolutely me-
cessary.
Bonded Debt Increases.
The bonded indebtedness of the city
has increased nearly $4,000 during
the past fiscal year, the exact figures
being $4,000. The total bonded debt
is $174,3O0, divided as follows: Sewer
bonds due April 1, 1921, $4,000;
state loan, due July 1, 1925, $4,000;
state loan, due July 1, 1927, $4,000;
state loan due July 1, 1928, 100000;
state loan, due July 1, 1881, $4,000;
state loan, due July 1, 1882, $40, 900;
state loan, due July 1, 1884, $40, 1000;
state loan, due July 1, 1887, $40, 600;
electric light bonds outstanding, due
July 1, 1880, $4,000. The total
amount Of the electric light bond issue
is $25O,oO0, but only $74, 300 worth of
bonds had been disposed Of at the end
OF the past fiscal year.
Electric Light Department.
The total income of this depart
ment from light, power, meter rents
and city departments aggregated $685.
1887 last year, while the expenditures
amounted to $44,787.24, leaving net
gain of $20,947.33, including the sum
OF $9,794.30 which was charged for
electric service to the various city de-
partments. The working fund of this
department showed a balance Of s27,-
242.63 on March 1, 1920, and to this
was added the net income for the past
fiscal year, which was $20,947. 33, as
well as the receipts from the sale of
bonds in the sum of s74, 800, making a
grand total of $122,489.96. From this
amount the following deductions must
be made: Capital expenditure, $780,
1912; transferred to electric light
sinking fund, $4,000; net transac-
lions for March, 1920, s1,211.14, and
net transactions for March, 1921,
22,110.15, so that this fund was over
drawn to the amount of $5,846.O5 at
the end of the year. The electric light
department sinking fund is credited
with balance of ST., 325.O6.
Waterworks Department..
AS previously stated, this depart
ment was operated at net loss of
$4,000 during the past fiscal year.
The total income last year was $19,-
588.12, including the sum of $4,939.2O
charged various other city depart-
ments for services. The total expen-
ditures aggregated $19, 1902. The
working fund of the waterwork de-
partment was overdravn 22,458.O4 on
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