New Ulm review., 1922-04-26

.,- Continued from page ~
of the date of March /, 1922. In this
report the buildings and equipment
of the electric light department., in
Guiding the new plant is valued at
$350,712.21. The new plant including
the machinery is valued at $22S,912.04.
The value of the Water works depart
ment is given at $13S,256.76 Of which
amount $21, 1,74529 is charged to the
reservoir and $157 7,4S1.60 to the bull
ding-machinery and mains. The net
value of the sewers Is given as $65, ,513. "A
and the real estate is valued at $685.
726.25.
Value of City Real Estate.
In this statement, the municipal
building site has a value Of $16,6S3, the
Public Landing, $500, the public
cemetery, $2500, the Parks, $500,
and the Market Square, $3S0O. Be-
sides that there are minor real estate
items which together with those men
toned total $33,726.25. The buildings
and structures are set down at $110,-
052.26. The main item under this
head is tie Municipal Building which
is given at $93,379.51 and the heating
main extensions to the municipal
building at $4,435.50. The fire appara-
tus is valued at $2O,20O.s0, furniture
and fixtures at $6,914.47, road ma
chinery, vehicles ETC., including the
tractor valued at $4,000, are rated to
be worth s4,6S3.76 placing the total
valuation Of the properties and plants
of this city at $730,O60.02. e..
Debts of the City. >r
The entire bonded Indebtedness of
the city amounts to $419,000. OF
this amount 100000 is due to the
State of Minnesota, the electric light
bonds aggregate $229,OO0 and the fund
bond, 100000. In addition to the
bonded Indebtedness there is due on
the fire truck the sum Of $7,0S3.30.-
Improbable Departments.
From the report it appears that the
water works fund was over-drawn to
the extent of $4,345.13, the street
fund to the extent of $50,942.41 and
the fire department fund, $6S53.3O,
making total of $62,14084 in the
funds that are overdrawn. As against
this the electric light fund showed a
balance Of $4S,8o2.73, the administra-
tion fund, $45,169.43, the sewer fund,
$15,472.29: the park fund, $4,262.05
and the cemetery fund, $11,425.75
total in these departments $685.
212.25, leaving net balance in the
fund accounts of $63,071.41. ...s.
Electric Light Dept. ....
The electric light department showed
a net profit for the year of $14,462.87.
The total income in this department
aggregated the sum of $66, ,135. .78.- OF
this amount $56,504 was received from
commercial resources and $9,444.70
was consumed by the various city de-
partments. The total expenses aggre-
gated $51,671.91. The main item of
expense was fuel, $50, 3,615.83, and the
next largest single item was that for
bonds in the sum Of $9,11613. In adj
dition thereto there was expended for
salaries and wages upwards of $4,000
and $1043.19 for insurance, including
compensation insurance. The net tran
sactions for the year ending March 1,
1921 are given at $21,11O15 and the
net transactions for the year ending
March /, 1922 at s11,767O7. From
this it would appear that the net re-
ceipts for this department were ap-
proximately $4,000 less than they were
for the previous year.
Bonds Redeemed.
During the year, $21, ,OCO electric
light bonds were redeemed and there
was balance Of $18,174.92 in this
fund at the end Of the fiscal year
March /, 1922. There is nothing
charged off for depreciation on the
buildings or equipment although the
account shows net profit of $14,462. 81.
1t seems very doubtful if there were
really any profits because there should
be charged off every year certain
amount for depreciation.
Waterworks Sinkhole.
The water works department shows
even a more deplorable state of affairs,
because, according to the report, the
net loss for the year amounted to
s122.2O. Not only was there net
loss to record but there was nothing
charged off for depreciation on either
building or equipment The fund
was overdrawn March l, 1921 to the
extent of $22,458.04. The net trans
I :