Smyrna times., 1929-07-10
STATE RICH START or YEAR
SAYS SECRETARY GRANTLAND
S2,421,1I8 SURPLUS IN THE
GENERAL FUND
Secretary of State Charles I'll.
Grantland Did S4,OOO,OOO Bust
ness With Expense of Sc. 900


Doing a busines of four milIior
dollars last year with an expense
of but $4,000 is the proud achieve
ment of Secretary of State Charles
H. Grantland, according to figures
made public by Mr.. Grantland. In
creases in the volume of business
along many lines and a better sys-
tenn in the Secretary of States Of
fee are the reasons for this econ
omy in management of the various
departments of the Secretary's Of
fee. When the State entered upon
its new fiscal year, there was S.
925,000 in hand as compared with
81 100000 of the same date a year
ago. Receipts from approximate
ly 1000 new corporations charter
ed during the past twelve months
brought in S2,625, 1908, as COM
pared with S898, 947 for the twelve
months ending July /, 1923. The
increase of the year just passed
is the difference between these two
sums. Receipts from the corpora
ton department fees totaIIed $685.
900 as compared with S178,291 in
the year before. The automobile
department collected S1,O35,O as
compared with S913,246 for the
year ending July /, 1928. In ex-
planning the increase in all of his
departments, Secretary Grantland
said it was due to the fact that
there YVES practically no increase
in the overhead and also to the
new system which he has installed
since becoming Secretary of State.
Clerks are made familiar enough
with all departments so that when
one department is rushed, clerks
from other departments are COM
petent to do the work. When the
corporation department is most
busy, clerks from the automobile
department help out. When the
automobile department is at its
peak, clerks from the corporation
department give the automobile
department aid. In this way there
is no, dull period in any department
Speaking of the physical assets of
the State, Mr.. Grantland said that
July /, 1928, there was a surplus
in the general fund of $2,421, ,118.15
The surplus on July /, this year,
was S3,75O,OOO, an increase of ST.
$4,000 From this all expenses
and special appropriations will be
paid. The General Assembly made
appropriations Of a special charter
totalling S1,75O,OOO, so that this
leaves about S2,OOO,OOO for general
expenses. In the sinking fund on
July ! this year, was a surplus of
S2,5O0,00O. Of this sum, about ST.
100000 will be used to redeem
State highway bonds. With the
way the State is prospecting, it is
the belief Of Secretary Grantland
that within six months, or January
I, 1880, the State will be able to
pay OIL dlOLHeT 1Z,UUO,UOp VI utS IL
way bonds This is the policy of
4 Governor Buck to pay as you 60.
Heretofore, the State at times took
the money from one pocket to put
it in another, but through the pay
4 as-you-go plan the State will save
the interest on part of its highway
bonds. In the current school fund
4 on July l, 1928, after paying ST.
100000 for the new school build
+ ing program, there was surplus
/ of S1,617,477.40. There was accu-
mulated during the year Up to June
1, 1929, an excess of receipts over
expenditures of SIT ,993.88. Col
lections from franchise, income anC
invested capital tax during June
totalled S1,7OO,OOO. From this
must be deducted the expenditures
of the State Board of Education
for June totalling S2O4, ,468.80 This
leaves an approximate cash bal
ance in the current school fund OF
S3,790,OOO. From this there must
be transferred 81, 1,250,000 into The
school building fund. This leaves
a balance of 50, $4,000.