The Birmingham age-herald., 1924-12-24
SCHOOL PROPERTY
 SET AT 5 MILLION
Assets Of $2O,OOO,O00 Less Liabilities Of $13,005,-
 900 Shown
MUNICIPAL MARKET
 OPERATED AT LOSS
No Shortages Uncovered Ex- cept Those Previously
 Reported

The city of Birmingham has total assets of $2O,302,880.06 and total liabilities of $13,880,934.16, leaving a net worth of $6,421, ,945.90, ac.. cording to a report of an audit ot all municipal departments submitted to the city commission late Tuesday by F. Hopkinson Smith, certified public accountant.
 Containing 114 typed pages, hand somely bound, the report delves deeply into every phase of the city's affairs and shows that:
 The value of all public school proper ties is $5,Os3, ,010.32.
 The value of the city park properties is 1, 27s,133.46.
 Miscellaneous properties, including the city hall and jail, municipal market, crematories, the new auditorium and North Birmingham water works and lighting plants, are worth $1 O,O32.6o'
 Value of the city's 16 fire stations and equipment is SPAS, 8,549.l6.
 Public library properties, including books, are worth $25,706.24.
 The book value of all street improve ments is $7,054, ,528.33.
 Equipment used at city hall, in the auditorium and other eity-owned build ings, has book value of $1,12S,3 ,3o4.o4'
 Indebtedness $1O,013,5OO
 The city's bonding indebtedness is $10,O13,5 500.
 The municipal market lost $26, ,451. .46 from September 30, 1923, to Septem- Der 30, 1924, of which $3,334.25 was in operation and $23.ll7.2l Tn bond interest and depreciation.
 Mir. Smiths report revealed no short ages at city hall except those previously uncovered by him in the public improve ment department of the comptrollers s office.
 Smith reviewed the series of shortage raids in the financial division and rec commended that the city comptroller be given full charge of his department and held strictly accountable for its proper functioning
 'This means" his report said, "that the comptroller should have absolute control over the personnel of his staff, or otherwise it would be unfair to hold him responsible for the acts of his sub-
  to work under him. I feel that he also should have a large say in. the remuner- ation paid to the various employees. It might be well to include in the budget a certain sum for clerical help in the comptroller's office and leave it to the comptroller as to how many men and what rate of pay any particular man should receive. The chief clerk under the comptroller should be relieved of detail work and act as a deputy comp troller and see that all work in the de- partment is promptly and properly car ried on."
 Departments Lax
 Smith said some department of the city are in the habit of sending faulty reports to the comptroller's office. He referred specifically to the night rec orders court and to Ensley recorder s court, and said five receipt books for fines checked up missing.
 The city should take prmopt steps to get rid of the $72,477.58 item carried as title liens purchased" through fail ure of property owners to pay public improvement assessments, Smith con tinued.
 "As it is not customary for cities to own real estate other than for their own actual needs, suggest that the prior owners of these properties be traced and given an opportunity to redeem the property, and if they decline to do so, that the properties be disposed of to the highest bidder" his report said. .
 The report showed deficit of $144,- 505.79 in the city's current fund &C., count as of September 30-an increase over the previous year of $90,61415.
 However" Smith reported, ''the gen. eral funds has reimbursed the public improvement and has treated as ex- penditures the sum of $52,32S.25 to cover the shortage in assessments re-
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