The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1923-02-06
CANYON COUNTY
FINANCES MAKE
OUTLOOK SHAKY
Expenses Exceed Visible
Revenue with Big Cur
rent and Bonded In
debtedness.


statement issued by Byron Defenback
accountant. following an audit of tn,
county books. Expenses during tn,
past biennium exceed by S54,00, ol
$4,000 per annum, the visible revenu,
for the county. That the road ane
bridge fund is in more deplorablt
condition than the general statement
indicates is one assertion made in the
financial report.
This audit was made to cover the
period from October IL, 1920, to Oc-
tober 9, 1922 The report shows that
TIE county has bonded indebtedness
of $4,000. a current expense over
draft of more than 100000 and de-
heiency in the road and bridge fund
of about $240. 1000, making total coun-
ty obligations of approximately S+34,-
10000.
No provision has been made for a
sinking fund to retire the bonded in
dcbtedness, the report indicates. While
interest charges have been met regl-
iarly, even this fund shows an over
draft of approximately $4,000. Mr..
Defenbach recommends that fund of
approximately 10 per cent of the total
bonded indebtedness be set aside each
year for bond retiring purposes.
Approximating current expenses for
1923. the report gives the following
table:
Net current expense deb. -$l06, 149 28
Annual operating cost ----.-- 100000
Seven per cent int. on
warrant indebtedness -..- 100000
The annual operating cost plus
the interest on warrant indebted
ness makes the total require
ments for 1928 approximately
$l2S.000.
Is mill tax will produce ...-S 100000
Sundry fees will produce 49,. 35,000.OO
These two funds make the total
visible revenues for 1928 equal to
$98, 1000, making an excess of ex-
penses over revenues of $4,000.
and leaving the probably debt at
the close of 1923 equivalent to
$l33,l49.23.
Apparently" says the report. III
is costing $4,000 more per year to
run the county and pay interest on
bonded yndebudness than the total
visible revenue"
To overcome this discrepancy in the
current expense account OF the coun-
V. Mr.. Defenbach suggests the five
following measures:
Reduction OF current expenses; re-
striction of all road work to that alb
solutely essential; paymentsof bond
interest and redemption of warrants
out Of motor vehicle fee; increase in
levies for road, warrant redemption
and current expenses; consideration
of the advisability of bond issue.
Warrant Indebtedness $3.50, 900.
The net warrant indebtedness Of the
road and bridge funds exceeds $780,
900 at this time and "it is estimated
that there will be outstanding war
rants OF $i75,000 at the close of 1923
il the present board does not cxpend
a dollar for road purposes during this
year." says the accountants report.
Total county receipts in the last
biennium amounted to 2.SS5. .670.SS. |
MFR. Defcnbrhs report covers every
division of the coun,y's activities. He
states that Canyon is one of the larger |
counties Of Idaho. having an assessed
valuation OF more than twenty-five
million dollars. The care OF the poor
and the maintenance OF public schools |
arc pointed out as the most rcapidly |
increasing phases of local govern
mental costs. He states "thc great
problems to deal with as have ever
any board in the recent
history OF any large county in the
state"
Accountant Makes Statement
Mr.. Defcnbach's statement follows:
The county has bonded debt of
$lS@. 800. and while payments of prin-
cipai and interest have always been
met as they became due. no sinking
fund Of any kind hss been set up. On
the contrary. the fund for meeting
these obligations is slightly overdrawn
n the beginning OF the year
1T 10 conceded that at least 10 per
cent Of the principal sum should be