The independent. [volume] (Elizabeth City, N.C.) 1908-1936, 1925-08-07
CITY'S SURPLUS NOT SO
BIG ASST ONCE SEEMED
Instead of $4,000 Cash on Hand Above Ex-
penses, the Amount Appears to be $4,000;
This is Largest Surplus Recorded

People IN attendance at the
meeting of the City Council
Monday night who may have
got the impression from the re-
port of the City Manager, that
the City has $4,000 cash on
hand saved above running ex-
penses, are in for a surprise.
The actual surplus on hand is
something over $1,000, altho
the auditors say there is a re-
fund of $1l,303.26 that is due
the city. =.
This refund is money that the city
paid out for a survey Of the utilities
of Elizabeth City. Now that the
Utilities have been taken over BY
the city Utility Commission, The
city general fund is to be ersditeA
with the cost of this survey.
In the City's Managers report
surplus of S22,331.93 was shown, az
of June /, but some Of this money
was provided for the purpose OF
paying interest. Deducting the $1l,.
3O3.26 refund, we have a balance
of $11,02S.67. But part OF this
money was provided in the budget,
of the last year, for interest pay.
ments just after the close OF the
1924-25 fiscal year. AccordinXlG,
the sum of $1,S75 in interest was
paid August 1 OH the $4,000 bond
issue recently made for sidewalks
On September first, the city Will
make Il payment of $4,000 semi-an-
nual interest on it 1911 bond fund.
We now have a balance Of So,163..
81, which is the largest surplus re-
corded, at least in any recent years.
For instance the balance Of the
General Fund in 1924 was only s..
1875 by comparison, IN lSZ5 $l,'
97419; in 1922, $5 720.42.
Looks Good For City Manager.
The report looks good for City
Manager NJ. w. Ferebee, who held
Office during the last nine months OF
the year reported. Members Of the
Board Of Aldermen who served on
the board that held office uBtil June
1 of this year will also fiAA much
satisfaction in the report.
The financial situation Looks bet
ter when one takes into account the
fact that there are some $12,038,S3
in uncollected taxes, which will Be
garnered in this fall, or';;at least
so per cent of them are expected.
City Manager Ferebee has been
somwhat handicapped in carrying
OH the street work because of the
paving and sewer operations now
! underway. But he expects ID carry
on the street work for''itss money
! next year. Equipment is In good
shape and the organization OF the
city forces working well.
The City Manager has recon.
mended Il reduction of the tax on
surface toilets from 81 to 50, and
also Il reduction Of five cents on tho
500 valuation Of property. This
reduction has been granted, BUT the
Aldermen in adopting a budget, had
to allow five cents extra for the
school system.
Mr.. Fcrebee has recommended
that the surplus in the city treasury
be used for improvements to streets
in the way of topcoating and re-
pairs to sidewalks. In the actual
running expenses of the city, sav-
ing of about $1,000 was effected IL
the budget alone. ......
The city expects to spend this hs.
cal year, the sum Of $75,099 as COM
pared with last years budget Of
$S2,SlS. Some of this saving 10 e.
fccted because the city will not now
pay for lights and water, the town
owning the utilities.
The years budget is apportloned
as follows: General Government
SIT 1GG: Street Department $780,
go; Police Department $4,000;
Sanitary Department, $4,000; Gene
terry Department $1,250; Equip
ment $1,G25; buildings $175.
The City Fathers set aside the
sum of $1,000 in the General Bud
get, for advertising the town. 1t
is planned to distribute booklets