The Waterbury Democrat., 1931-05-22
Mayor Hayes Keeps
 Up Promised Policy
(continued from. Page D

(Continued n its prescribed margin. thanks te he guidance of Mayor Hayes ane Controller Leary.
 It is generally known that thu city. under the present charter. mus, operate from January lst to May 30th without any actual income Therefore, the capable manner ol handling the city's business. al shown by the mayor and controller is especially appreciated.
 Pay to Sinking Fund
 The report shows that on, May ist the city must pay back to the surplus resource sinking fund the sum of $438,960.41 which was bor. rowed. This money was borrowed from the fund rather than from banking institutions to save the municipality several hundred dol. lars in interest.
 This loan was one of the big fea- lures confronting the city fathers
 
 that amount the city had on hand for available use the sum of $551,- 60S.41, water receipts amounting tc $231,0SS and borrowings from the bond funds, totaling $40O,000. The 'otal cash resources, were, at, the ime, $1,521,657.49.
 Interest and Redemption
 During the same period the city administration paid out the follow ng: Interest and redemption on he city's bonded debt, $2S9,000 ir .edemption and $323.486.85 in in. crest. Interest totaling $2S0 was ,iso paid out on temporary loans 'his latter figure is drastically low 1T than amounts which the city has lad to meet in past years and shows he present administrations wise- .ess in borrowing from its own unds to carry on.
 Pensions to EmplOyes
 Other payments during the first suarter included pensions to former smployes, totaling $3,11S.64. state military. county and dog taxes amounting to $131,078.49. These epresent fixed charges and pay. ments over which the present ad- ministration had no control and to- .aled $747,96S.9S.
 Ordinary Expenses
 For ordinary running expenses including salaries and wages and disbursements for permanent i'm provements, the city dispensed $1,- 716,431.S6 during the first quarter the report discloses. Total cash payments for the first quarter are $1.716,431.S6.
 The report shows so-called lover draft" for the period amount ing to $94,774.3S. This overdraft is further effort on the part of the present administration to save the taxpayers expenditure. on interest on temporary loans. The overdraft represents the cost of material bought by the city which was or dered mot collectable" until this month. In this way the city actual ly borrowed from those selling the municipality and held the sellers over until the money was available and signed "time" bills pending the receipt of revenue.
 The Cash Balance.
 According to the report the avail able cash balance on January 1st was $1,157,247.71. The cash re- ceipts from sewer assessments and from the special paving tax amount ed to $6,450.47, making total amount available of $1,16S,698.18.
 During the same period the fol- lowing amounts were paid out for permanent improvements: Construc- ton of sanitary sewers. $5,973.90; construction of trunk sewers, $56,- 342.42; purchase of land for school in Fairlawn Manor, $26,784.6S; ad- dition to. Town Plot school, $2,1b4; completion of grounds around the Woodrow Wilson schol. $135; addi- tional water supply work on the Shepaug, $14,718.13; remodeling the high schools, S9654.
 Paid On Temporary Loans
 This represents a total of $1O6,- 204.67. On top of this the city made cash payments for temporary loans amounting to $400,000. The city's to- ter were $506,207.67. This left net cash balance in bond funds and spe- cial funds as of March 31, 1881. of $647,493.51.
 The total cash resources for the first quarter were only $485,325.04. This shows the excellent way in which the city's business has been carried on.
 During the first quarter the loan to the general funds has been paid of, the expenses of the charter commis- sion have been paid of and against the city's credit on the municipality books has been posted the debts of the Hopevilie, neidville and East Farm school districts. The city had to pay off the debts amounting to SI,935.54, and post this as liability on it's books In order to keep records In a straight manner.
 Total Cash Payments
 Total cash payments for the first quarter. in fact or aB . matter of record, were $444.sG3.3S. And the net cash balance in tho resonrso sinking funds amounted to s40,4ef.se. As of March 3f tho total cash balance wnA s60a. .tS0.s2.
 lsesuIse of Business
 A resume Of the city's busineas ia shown in the following figures on n appropriation expenditures and un- pxpendt balances. They follow. Hes of bonded debt. nppropri- uted, ee45.400. dlghursed, esbbs000, egbG. .400i Interest on bonded debt. appfenflateds e7g6,- 1ai.ail llsbufAed. easD, ,4H0sHh. u1ls aspended. sfsa,sfs.7si interest on i