The Waterbury Democrat., 1946-01-01
City Presents Sound Financial Structure
 City Controller Foresees Stable
 EiseoI Term &or 1Q46
Fiscal Term for 1946

The City of Waterbury, through it's various funds, can pay out 8,420, ,92281 for governmental ser- vices during 1946, if all appropria- ton items are completely expended. Of this amount $6,872,519.75 makes up the budget of the general fund, while $711, 1,375.06 comprises the wa- ter fund, it was said by City Con- troller Neil F. Maloney.
 Other fund amounts to be spent include the sewer fund, $73,023; sidewalk fund, $32,000; capital and homecoming expenditure fund, $625 900; street and general improve ment bond fund, $107,000.
 City officials also anticipate ex- penditures through the sale of air port bonds, sewage disposal bonds, and trade school bonds, in the amounts of $500, 900, $350,00O, and s100,000, respectively. The first two-named were authorized at the 1945 Legislature. while the trade school bonds were authorized in 1941, but never issued.
 The 1946 budget for the City oi Waterbury is not the largest in municipal history, nor is the pro- posed tax levy of $5, ,686, ,750, based or 92 per cent of the estimated Grand List of $215, 0,000 at 28.75 mills the greatest. Larger ones were known during the sos, but not priol to that period.
 1 Prior years surplus being used tc finance the 1946 budget amounts tC S436, ,350.75, which compares with S438, 1889 set up in the 1945 budget as 8 similar item. A year ago too, the city was able to transfer $500 900 in surplus funds to the capital and homecoming expendi- lures fund and officials are con- fident that similar amount may be set aside for reserve fund pur- poses in 1946 when the final fig ures of 1945 expenditures have been attained.
 Fiscal Procedure
 The City of Waterbury operates ,,n a fiscal year that coincides with the calendar year. It closes its fiscal accounts on December 31 ano operates on new set of books anc under different budget on Janu- ary 1. But bills incurred during the last part of the year and regu- lar accounts running through De- cember 31 are recognized as leg:. innate charges to the past years ap- propriation items until January 30 Bills submitted after that date art not proper charges to the past year but must be charged to an item se' up in the current budget for 'priol years billS".
 Broken down into governmenta functions the 1946 budget sets up Sl 230, 144.21 to be spent for publ; safety; $94,l41.38 for conservation O health; $825 ,11508 for streets, san: tation, and waste removal; $279, 861.07 for charities: $271, ,958.47 fo recreation; $87, 7,85842 for the Bron son Library; $2,002, ,273.11 fo schools, and $1,598. .l28.25 for gen eral government, including bond re temption, taxes and pensions.
 The pension appropriation c $380,6 ,622 is the greatest in the city history and marks the first attemp made by this municipality to ere ate reserves to meet payments i the future. This amount com rrises 5.54 per cent of the total cit budget or l.5928 mills of the ta rate. The transfer appropriatio from the general fund to the pen sion fund will be the largest re source, the others being cash pro ceeds from the present police an fire pension funds, and contribu tlonE Of the various groups of em ployes. These amount to STA TOO.
 |. Expenditures
 On the expenditure side it is es tlmated that $19.92I.97 will be pal general government pensioneri S6l.5S4.88 to retired school teachir employees; $79,292.84 to retired fire men; and $7l ,608.49 to retired DO sicemen. This will leave a si4l 600 reserve for employees contribl tions and an unappropriated fun balance of $l81 ,3l3.82. This lat ter sum. undoubtedly, will form u basis of an investment to be mao by the Waterbury Retirement Boar as the Pension Act provides fl such investment either by the boar or by a corporate trust selected the board.
 More than 200 pensioners vi start receiving monthly checks frol the new Pension Fund late January, as the new law proVidl that such payments are to be mac nont'Sly at the completion of u month. Tn view of the Ianmhi of recent retirements adn those ar ticipated in the future as She resu of reachcing he age limits provide in the new law, the total Of cil pensioners may approximate 3l by the end of l046.
 As a result Of paying off el .33l III in bond premiums and intere during lo15 the city's bonded del "a a