The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1943-11-05
No Reduction Likely
In Present Tax Rate
Board OF Finance Offers No Encouraging Hope for
Change; Few Avenues Open to Changes

Sources normally utilized by city
financial heads as the means OF es-
tablising reductions In the city tax
rate, by means Of accrued SURPRISES,
have been both crippled and handi-
capped by various factors presented
by wartime living.
AS result the board OF finance yes
terday concluded that IL was unlike
ly that there would be any reduc-
ton In the present tax rate Of 30
mills Although they have cut con-
siderably, requests by various de-
partmcnts In their individual bud
gets, the city Is faced on one hand
with declining reynues and on the
other by an increase In the costs of
materials and miscellaneous require
ments.
Collections OF back taxes will be
less because most Of them have been
cleared up IN the past two years
while such other sources OF addi-
tional revenue such as parking me-
ter receipts will be cut down.
The boards Interpretation Of the
situation, as OF yesterdays meet
ing, was that 1t would be more
feasible to invest whatever surplus
may be accrued into reserve fund
for post war planning, rather than
used as means OF reducing the
tax rate.
The board has already actually in
vested 100000 IN this fund through
the medium OF purchasing war
bonds and hopes TO put aside sums
ranging from 200 to 200 thousand
more for this same purpose.
AT the afternoon meeting reports
were submitted by departmental fl
nancial heads and various transfers
were acted upon.
In addition to the $474038 that II
Is estimated will have accrued In the
city general fund by the end OF
this year, 1t was further estimated
by budget director, T. Il. Olsen, at
yesterdays meeting, that q surplus
appro%imatlng $65,l23 will accrue In
the water fund by the end Of the
year,
The water fund Is handled separ-
ately from the general fund; It's
receipts come from water rents and
are used to finance the operation Of
The water department.
The breakdown by Mr., O.sen l~-
yealed that n net excess Of e}ti-
mated reall2atIonS OF revenues over
budget estimates totals $30,3ll with
The estimated unexpected balances OF
appropriations amounting TO S25,8ll
both totalins your estimates sur
plus
A balance, greater by $50, $40 over
last years balance, Is shown TO be
IN the city treasury rs Of october
!, according TO the report submitted
TO Yesterdays board meeting by
Serge Belanger, city treasurer.
Mr.. Belanger's report listed an
actual balance OF SO 1884, POP but does
not include the 100000 IN war
bonds recently purchased as this
latter purchase Is earmarkcd for
postwar use.
n was determined also at yes
terday's meeting that granting Of
the contract TO the y. M. Y. Con-
struction Co. OF Wethersfeld for
the laying of sanitary sewers on
seven Of the city's streets, viii have
TO be withheld for a few days,
The board revealed yesterday
that there was but $8 800 In the
appropriation for new sewers fund,
which necessitates their asking
the board OF aldermen for trans
fer that will appropriate total Of
S22 900 to defray the overall eX-
penses. The y. M. Y. companys
original estimate, as lowest bidder,
was $l7068.,
The aldermen will not meet until
Monday. 10 the meeting of the
board Of works scheduled for today
10 grant the contract Will have 10
be postponed until after the alder
men approve the transfer 10 meet
the eXigency.
The Hamilton park fund had a
balance OF $1,000 on october /. re-
Gaipta during tina month Of 1890