The Daily Alaska empire., 1933-04-03
What Are the Facts
 About the Financial Condition of the City of Juneau TOdaH

On the of the City election, when the citi- zens of Juneau choose a Mayor and three Council men to help conduct the affairs of government for the coming year, they are confronted with maze of figures purportng to reveal the exact financial condition of the city, and which they attempt ing to reconcile with the statements and promises of spokesmen for the present administration.
 Let us anayze these figures and statements and try to answer questions of vital importance to every taxpayer and citizen How badly is the city in debt and what are the prospects for getting out of the "red?"
 One can't blame the nquiring taxpayer for feel ing it confused. Two weeks ago it nounced that "at the close of the current council manic year the city will be clear of bank indebted ness and will be in position to begin reducing its outstanding bonded debts each year"
 financial statement published at that time showed that the city then owed the banks $20- 292.00. In Saturdays Empire it was announced that only $15,000 due the banks, indicating that $5,292.0 .00 had been applied the indebted ness.
 The aforementioned financial statement listed among current assets the sum of $18000, den- quent taxes Saturdays statement declared that the delinquent taxes now total $13,5Oo, indicating that $4,5OO had been collected from that source since the first statement issued.
 STILL "IN THE RED"
 The current councilmanic year ends this week, but instead of the city being free from bank in- debtedness still seem to S15000.
 In the first part of Saturdays statement the spokesman for the administration mentions the fact that the city has $2,51600 cash on hand. But "n conclusion" listing the assets" he gives the total cash on hand and in the banks SIC, ,46300. Which amount is correct?
 As matter of fact he gets this $1O,4630O and the other figures shown in the assets from the balance sheet dated March 31, 1883, which gives the cash on hand as of March 20 1883. And he kewice goes to list the city's liabilities at S19O,713.O0. This figure too is taken from the same balance sheet, which shows $2029200 as the amount due the banks Yet he has already told us the city owes the bank only $15,OOO. The gentle man and his figures should get together.
 No mention is made of the S5,OOO due the school fund, listed current ibaility in the March 31st balance sheet; nor of the March payroll and expense account of approximately $7,500, listed as another item in the current liability account.
 To "man up tree'-and this seems to be the position of the Juneau taxpayer today-the city appears to be badly in the hole, and that it will take the most rigid economy and the most careful intelligent management to put us back our feet.
 Assuming that every dollar of the $13,50O still due on taxes will be paid in the near future-and we know much of it will be long time coming in-and that the city has $2,516 in cash on hand, this makes approximately $16,0O0 in "current assets.
 WHAT ARE THE CURRENT AND CONTINGENT
 LIABILITIES?
 What must we pay out between now and next October, when tax collections agam become que. The city can expect very little revenue from other sources in the interim
 First there is the March payroll etc., of $75OO And an examination of the citys financial state ment ShOWS Cn1S IS dpproXlIIldtely IHe oiooie .'o has been needed to run the city each month, n- cluding interest charges. Before October rolls around the City then will have to pay about $52- 500 for this purpose, besides 5000 due the school fund, or total of $57, ,500
 A JOB FOR MAGICIAN
 How are we going to take care of $57 300 worth of obligations, on top of the $15,0O0 bank loan, with $160OO forth of "assets, consisting ot S25l6 in real cash and taxes receivable of $13500, of which we don't know how much will come in? Under such circumstances what comfort can the sweating taxpayer get out of reading that the city has $447 04343 more assets tha liabilities M ,,IJ M WILL BE IMPOSSIBLE TO OPERATE THE CITY THE NEXT SIX MONTHS WITHOUT BORROW