The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1940-06-28


borough had $l050 200 in notes pay.
able on April /, 1899, new loans dur
ing the past fiscal year amounted u
$2S5, 900, payments during the yeai
also amounted to $235,000 so the
notes outstanding on March 81, 1885,
was $105,000.
The borough Indebtedness was re.
duced $4,000 In the past fiscal year
it being $3.50 600 900 on April l, 1899
and $4,000, 900. The 1940-4l bone
redemption is to be $4,000 to be paie
on retirement and $l6,94250 on In.
tereSt.
The report shows total assets o.
the borough was $672 ,0S8.60 of which
$4,000 is the amount to be raiset
by future levies for bond retire.
ment. There is a surplus Of $78,.
3l3O8.
Credit Stin Good
That the borough's borrowing
power Is still good Is shown By
the fact the borough If 1t wishec
could still borrow $770, 1925. The
state law provides borrowing power
be less than per cent Of the tota
grand list. The total grand list fol
taxable purposes Is $20,88,950, ant
in addition there Is taX-eXempt
property here valued at $4,000, cal
less $l06, 1850 for federal, state ant
county owned property here. This
puts the total grand list at Gas, 763,-
725.
The borrowing limit under such
a grand list is $l,lS8, 1925 and the
bonds outstanding on March 81
1910 was a total of $4,000 or III
per cent of the grand list.
Appropriations Report
The appropriations report totals
are: Adjusted appropriation, $548,-
2l6.69; gross expenditures, $647,-
54l,07; credits applied to expendi-
lures, $81, 660.85; net expense, $685.
880.22 less a $5,944.88 item, leaving
adjusted net expenditures and en-.
sumbrances, 1858, 1895 81. (The $5,-
944.88 item was an item which had
been charged TO the fiscal year
1939-40 but was really chargeable
to the 1938-39 fiscal year, The adj
justcd over-expenditure was SILL
6l8.68.
The original copy Of the account.
ants report will be presented at the
board meeting Tuesday, II Is ex.
pected, for acceptance. A certified
copy Of It is to be sent TO the state
tax commissioner.
The report will be incorporated ir
the annual report Of the borough
and is expected to be ready In three
or four weeks, and copies will ther
be available to all interested.
The recommendation are only
that, that Is the auditing firm does
not have the power to order the
changes which II suggests, but 1t IL
probable the borough board will OF
future sessions at least consider II
not act on some Of the recommen-
datins.
Warden Pleased
Warden John j. Sheridan Is
pleased with the report. He feels
the accountants did excellent work
and that the report reflects credit
on borough officials.
Extensive Report
The report says that the examine
ton covering, In particular, transact
tons Of the fiscal year from April
/, 1899, to March 81, 1910, and In
general, investigation Of transac-
tons Of prior years in as far as
required In order to trace the origin
or propriety Of various accounts.
All cash balances were verified
by direct correspondence, all re-
corded receipts were accounted for
and disbursements supported by
vouchers or other authorizatio
were examined In detail for four Of
the twelve months. General prop
erty taxes receivable were circular
ICED 100 per cent. Confirmation
was also made Of sanitary sewer
assessments receivable, curb and
sidewalk assessments receivable,
public welfare receivables and re-
ceivables originating from the bor-
ough clerks Office.
1.-THE general books OF the Dor.
ough are kept In an orderly and SAT-
isfactory manner and the system
In operation affords control Of oil
financial transactions the auditors
report. However while education
department records are accurately
kept, more systematic recording
OF transactions may be readily ac-
coriiplished. The accounting records
OF the borough court and the related
probation office are without adequate
control"
Closes Three Schools.
The board Of education conducted
what one member called @ "blitz-
krieg" at its special session yester.
day afternoon. II voted 10 close the
Beebe street, Road Hill and Mill
Vile schools and also the special
voted to add AZ more high school pu-
voted add AZ nire high schol pu-
pills TO the approximate 80 which
have been using the futile house
for study, and took preliminary steps
toward tentative plan under which
The manual training work may be
shifted TO the first floor Of the Tut
tie barn.
The vote TO close the schools per.
inanently Is undoubtedly the most
important step. Attendance at these
schools has been small and the edit
Gators feel the children will benefit
by the transfer to larger schools
and In addition an important say.
ings Is expected to be transacted.
Teachers In these schools will be
kept on the payrolls and II was
limited that arrangements may be
made 80 that they will be used 10
fill several vacancies expected In the
teaching ranks, or to fill other va
cancies caused by transfers TO the
first vacant posts.
No appointments were made last
night. It Is known there Is at least
one vacancy In the high school
teaching ranks and possibly three
or four In the grammar school
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