The Waterbury Democrat., 1938-07-30
Controllers Reports
On City's Finances
Finds $694,39l at End of June, COntradicting Verbal
Estimate Made to Board of Finance

to approximately $50, 10000 less
than in the previous year, and APP
proximately $279 10000 less than for
the same period Of 1885.
Welfare Department
Expenditures for relief purposes
were approximately $37 10000 higher
in 1893 than In 1887 and $64, 10000
higher than In 1886. This, as every
one knows, is due to the additional
demands for relief since the early
part OF this year.
When comparing the total expen-
ditures to date for each Of the
years shown consideration must be
given to the fact that for the first
five months of 1888 salaries and
wages were paid In the full amounts
whereas in the year 1887 there was
5 per cent salary cut in effect
and salaries and wages therefore
were paid at the rate of IS per cent,
and in 1886 when 10 per cent SAL
airy reduction was in effect salaries
and wages were paid at the rate OF
80 per cent, and also that relief
costs have been higher In 1888.
A tabulation shows that after adj
justing for salaries and relief costs,
to put all three years on compare
BILE basis, that there was expended
in the year 1887 the approximate
amount of $185, 1892 more than In
1888 and in the year 1886 $318,-
1890 more than in 1888. The higher
expenditures in these years were
due principally to higher expendi-
lures in the street department.
have not found 1t necessary to
borrow as yet against the second in
stalment of taxes due and payable
on October /, 1888 whereas last year
the city borrowed almost immedi-
ately after repaying the loan made
against the May instalment Of tax
es. 1t appears to me from the rec
ords available that this second loan
of 100000 was unnecessary. and
with a much weaker cash position !
am very hopeful of being able to
get along without borrowing and
to meet all payments becoming due.
Another reason for the weaker
cash position is because there is still
due from the Surplus Resource
Sinking Fun $186,6O7.71 being the
balance due on account of payments
of 1887 bills.
Still another reason for this
weaker cash position Is the decrease
in revenue receipts of the period as
compared with 1897 when 69.0o% of
the General Property Taxes were
collected as against only $685. In
1888, and again in 1887 over 1907
of the Old Age Taxes were collected
as compared with only 1861 In
the current year.
To sum up, the results of opera
lions for the first six months are en-
couraging from the standpoint Of
expenditure since they show an over.
all decrease, but I am very much
concerned about the reduced per-
centages OF tax collections and the
deficiencies Of other resources, prin-
cipally the amount of 100000 which
will not be realized and against
which there has been set aside, as q
reserve. a relatively insignificant
amount.
1 have called this condition to the
attention of the board of finance on
several occasions since the early
part of the year, and urged that ac-
ton be taken to either reduce APP
propria tons or raise additional rev.
enue to the amount needed. This
condition will become acute toward
the latter part of the month Of No
vember. since the second instalment
of taxes will have become past due
by that time. There is no authority
given the city. by charter or other
wise, to borrow except in anticipa-
ton of taxes not yet due and 1t ap-
pears to me that the authorities
having the power to correct this
condition should do so now In order
to prevent any possibility of the cit,
being in an embarrassing situation
financially few months from now
The figures shown, insofar as the,
refer to the year of 1888, are takel
from the records in my Office ano
the figures for prior years shown
are taken from reports prepared il
those years and are correct to thu
best Of my knowledge and belief.
SHERWOOD L. ROWLAND,
City Comptroller