Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1939-01-27

""'o " CHink up some way TO raise
| approximately $S50;0OO annually to
meet appropriations for the iristitu-
! lions of higher learning.
Adding these four items, a total OF
$l,46O,OO0 per cent is the probably
| shrinkage in revenue from the bud
get estimates.
And there are other reductions
quite possible, though not probable
For instance, there may be certain
sales tax exemptions voted by the
committee. If any exceptions are
voted, there will be an even greater
gap between budget and finance COM
nittee revenue figures.
And that's only taking into con-
sideration the obvious and likely ac-
tons of the committees.
But while the finance committee is
thus losing revenue from budget es-
Inmates, the appropriations commit
tee isn't making any corresponding
slash in estimated expenditures. On
the contrary, it is being pressed for
more and more funds from almost
every State department and agency.
Thus, budget estimates of revenue
for the coming biennilim are coming
down and budget estimates of expen-
ditures are going up, if they are NOV
ing at all.
1t takes no expert in the Einstein
theory of relatively to figure that the
result is bigger and bigger gap be-
tween income and Outgo and a more
and more unbalanced budget.
And if still further step is taken
and the matter of diversion of high
way funds taken into consideration
the General Assembly members are
quite likely to wake up some fine
morning and find there is a little
matter of five million dollars a year
needed to balance the budget.
Let's look at the budget estimates
and show in figures the practical eff
feet of all these things.
Fog the general fund the budget
GERS estimated for the fiscal year
1939-4O:
Unappropriated balance 5 100000
Estimated Revenues 49,. 4O,398,514
Total availability .... $42,598, 514
It estimated expenditures for all
purposes $40,79O934 which would
leave an estimated surplus of $1,8O7,-
$50 to start the second year of the
bienniufn.
Now look what will will happen if
the million and half revenue slashes
are carried out:
That estimated surplus of $1,598,514
will have almost vanished as the
figures look like this:
Unappropriated balance S 100000
Tc,fi fnl
Total availability ...... $41 ,098,5
Sulbstracting the estimated expen-
ditures of $40,790O34 there would still
be a balance of $3O7 $50 with which to
start the second year of the biennium
(194O-4D. But look what happens to
that:
Unappropriated balance S 3O7, $50
Estimated revenues 49,. 39,6O8,514
Total availability $3.50. 500 ,095
Now put against this the estimated
expenditures of $42,872, 401 and the
only reaso nthe resulting $2,956,3O7
isn't written in red is because there's
no red ribbon on this typewriter. It's
a deficit, right on.
It should not be overlooked that
these figures include in estimated
revenues for general funds the $4,-
100000 of highway funds it is pro-
posed to transfer during the first
biennial year ($2,OoO,OoO at the start,
$2,500,000 at the end); and the fur
ther $2,500,OOO transfer at the end of
the second year.
And so the Assembly is headed
straight for general fund deficit of
100000 if diversion is permitted;
and no less than $1O,OOO,cOO if the
anti-diversionists succeed in defeat
ing Governor Hoey and his Admins
tration forces.