The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1930-11-14
FINANCIAL STATUS
Of MINNESOTA
THE U. S. DEPARTMENT OF COM
MERGE SHOWS STATE INCOME
AND EXPENDITURES FOR LAST
YEAR FOR THIS GREAT STATE.

Financial statistics of the State of
Minnesota for the fiscal year ending
June 80, 1929, released for publication
this week by the U. S. Department of
Commerce are based on a per capita
income and expenditures as follows:
Expenditures.
The payments for operation and
maintenance of the general depart
mentS Of Minnesota amounted to $780,
23,878, or STAT per capita This in
cludes $9,948,136 appointments for
education to the minor civil divisions
of the state. In 1923 the comparative
per capita for operation and mainten-
ance OF general departments was $13.-
81, and in 1917, $8.15. The interest on
debt in 1929 amounted to $3,979,275
and OUTLAWS for permanent improve
ments, 1854, 423. The total payments,
therefore, for operation and mainten-
ance OF general departments, for in
tereSt and OUTLAWS were $51 PIT, 576.
OF this amount $36,771 represents pay
mentS by state department or enter
prise to another on account of services
The amount reported as interest on
debt includes 1874, 189 as payment of
interest on county reimbursement road
bonds which are not clasSed as a debt
obligation of the state. The totals
include all payments for the year,
whether made from the current
revenues or from the proceeds of bond
issues.
OF the government costs reported
above, $13,878,68O was for highways,
$4,173,929 being for maintenance and
$9,704,751 for construction.
Revenues.
The total revenue receipts were
500 ,041 ,416, or $24.84 per capita. This
was $22,338,263 more than the total
payments of the year exclusive of the
payments for permanent improve
ments This excess of revenue re-
ceipts is reflected in reduction of debt,
and in purchase of investments and
increased cash balances, not shown in
this summary. Of the total revenue
receipts $36,771 represents receipts from
a state department or enterprise on
account OF services. Property and
special taxes represented 249 per cent
of the total revenue for 1929, 21.7 per
cent for 1928, and 354 per cent for
1927. The increase in the amount of
property and special taxes collected
was $40 per cent for 1917 to 1928, and
81 per cent from 1923 to 1929. The
per capita property and special taxes
were $6.18 in 1929, $5.l4 in 1928, and
1886 in 1917.
Earnings of special departments, or
compensation for services rendered by
state officials, represented 81 per cent
OF the total revenue for 1929, 81 per
cent for 1925 and 209 per cent for
1917.
Business and nonbuSineSs licenses
constituted 47.8 per cent of the total
revenue for 1929, 5O4 per cent for 1928,
and 30.6 per cent for 1917.
Receipts from business licenses con-
Sist chiefly of taxes eXacted from in
surance and other Incorporated COM
panieS and of sales tax on gasoline,
while those from nonbusiness licenses
comprise chiefly taxes on motor We
hicles and amounts paid for hunting
and fishing privileges. The sales tax
on gasoline amounted to $3,678, 105 in
1929 and $5,327 079 in 1928, decrease
of 81 per cent. This decrease is due
to the increased amount of the gas tax
apportioned to the counties.
Indebtedness.
The total fund or fixed debt out
standing June &c. 1929 was $56,219O59
The net Indebtedness funded or
fixed debt less sinking fund assets was
$6,086 ,614, or $2.40 per capita. In 1923
the per capita net debt was $342, and
| in 1917, $0.61 The debt reported for
Minnesota includes that incurred for
rural credits, but does not include the
county reimbursement road bonds
These bonds were issued by the counties
of the state for road construction, but
the state is obligated to pay both
principal and interest of the bonds