The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1939-11-29

Ecdp mahAhk ~ Oue VI tuC WUEAU
tions in the principal Of our bond
ed indebtedness and the interest
paid on our bonded indebtedness
run at the rate Of about 10 mills
Of the Grand List, and q survey
made by the controllers office In
dictates that this will continue
without much change UP or down
unless new bond issues are ad-
ded) for o period Of 10 or IL years,
but at that time there will be a
sharp drop. Thus far the Board
Of Finance have been unable to
see any relief from this burden
excepting an approach to the Leg
islature for authority to refund
these bond issues. The Board Of
Finance, however, are very doubt
full as to whether this can be le-
gally done, but the matter should
be carefully investigated, because
II some such plan can be effec-
tuated, large part Of the inter-
est bill can be saved and the re-
tirement burden on the principal
can be spread over a longer period
Of years and thereby reduce to
that extent the current tax rate
each year.
Much To Be Done
In the opinion Of the Board Of
Finance, there is still much that
can be done In reducing expen-
ditures. After next year the prob
lem of keeping the tax rate down,
or reducing II. will not be SO diff
ficult as II has proved this year,
because resources will be available
that could not be used in the 1910
budget. There Is no reason why
the new Tax Collector cannot pro-
coed just as diligently as the pres
ent Tax Collector In the collec-
ton OF back taxes and in the COL
lection Of the current list. A two
years demonstration Of actual re-
suits proves the importance OF
this beyond question.
The aggregate balance or prior.
years. taxes, overdue assessments,
and water rents, now remaining
ON the Comptr0ller's books, Is up
wards Of $4,000, 100000, not includ-
ing penalties. A large sum. No one
knows how much Of this can be
collected. If the effort to collect
Is intensively continued by the in
coming administration no doubt
large sums will be collected which
will become disable resources for
the City.
Charters Are Different
The old Charter permitted 95
per cent Of the tax levy as q re-
cource. The new Charter cuts
this to 90 per cent, which reduces
the disable resources and COM
pels an increase Of one mill. Also,
with the doing away with the
Surplus Resource Sinking Fund,
we are permitted to use, as o
resource. only IS per cent Of the
actual collection Of prior years
taxes that have been made during
the year previous to the year In
which the budget Is being made,
|. e., for the budget Of 1910 we
can consider as a resource only
IS per cent Of the actual prior
years taxes collected In 1888.
This seems unnecessarily con-
sentative.
Waterbury has never had the
benefit OF scientific budget MAX
ing. A better practice should be
established, and this 1910 budget
Is sent to you with more than
the usual detailed information.
Budget control has been weak In
the past. The new Budget Direc-
tor Is a move In the right direc-
ton. He should be able to i'm
prove the control over the De-
partment expenditures and thus
permit economies to function
more readily.
An Old Custom Revoked
In the past In connection with
budget preparation the Board Of
Tax Commissioners have been ac-
customed to give the Board Of
Finance the amount of the Grand
List as they figured It after re-
ducing II by what they guessed
the Board Of Tax Review would
reduce 1t. This was bad practice
and this year the Board Of FL
nance have taken on the respon-
sibility Of discounting the prob
able reductions Of the Board Of
Tax Review. In doing this we
have been guided by the actual
experience Of the last ten years.
This year the Board Of Finance
have endeavored to set up q bud
get that will result in preventing
rs far as possible the freezing
Of incoming funds that, now that
the Surplus Resource Sinking
Fund has been discontinued, will
flow into the general fund Of the
City. In spite Of our efforts, large
sums, as much even as $500, 10000,
will become frozen and cannot
be used until 1941, when they can
be used as q resource against
which appropriations can be made
II the incoming Board Of FL
nance and Mayor pursue the
same policy Of economy and cut
ting out Of unnecessary person.
mel and expense rs have been fol-
lowed the last two years we may
well reach q millage rate under
30 mills for 1871 and stiIl give
the City efficient government.
What the City needs as much
as anything else are good admin
istrative Boards. The last two
years the Board Of Finance has
done much work that should have
been done by other Boards. BE-
cause the other Boards did not