Americus times-recorder. (Americus, Ga.) 1891-current, February 05, 1924, Page PAGE FOUR, Image 4

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Newspaper Page TextPAGE FOUR BRUNSWICK’S FIRE DEPT. HAS GOQD month BRUNSWICK, February 4. .'The monthly report submitted to City Manager George L. Rinkliff for the month of January by Chief of theFFier e Department J. H. liar rison, shows that this department has been very active in saving prop erty during the month, according to statistics of more than forty htousand dollars. The insurance on the buildings which were fought by the fire de partment, and one that is excelled by no destruction during the month amounted to $45,150.00. The actual loss by damage amount ed to $5,041.50. There were five box alarms, twelve phone calls, one 1 still alarm and two false alratns. Mr«. L. E. Gunn 1 ’ Health Brings Beauty A Discovery That Has Done a World of Good Augusta, Ga.—“My father's family was kept well ever since I can re member by using Dr. Pierce’s remedies. My father used to get a supply of the ‘Golden Medical Dis covery’ every spring, as a tonic. He took it himself and gave it to the rest of us. He did not wait until we were sick. . He said, ‘An ounce of preven tion is worth a pound of cure.’ When I was about sixteen my parents saved me, I believe, from serious feminine trouble by giving me Dr. Pierce’s Favorite Prescription.”—Mrs. L. E. Gunn, 506 Moore Ave. Keep yourself in the pink of con dition by obtaining Dr. Pierce’s Gold en Medical Discovery in liquid or tablets from your neighborhood drug gist, or send 10c to Dr. Pierce’s In valids’ Hotel in Buffalo, N. Y., for trial package. PALE SKIN, DULL EYES.NO ENERGY? WHEN your blood needs iron your strength and energy fail, your skin is pale and blotched, • your eyes dull and your flesh flabby. Gude’s Pepto-Mangan provides iron in just the form most readily assimi lated—a form which will not irritate the weakest stomach nor discolor the teeth, but which effectively enriches the blood and invigorates the body. Get Gude’s from your druggist and begin to get the benefit of its remarkable vitalizing and restorative qualities. Liquid or tablets, as you prefer. Taklotc To see for yourself the • * aDietS health-buiJdingyalue of Gude’s Pepto-Mangan, send tor free Package. M- J. Breitenbach Co., 53 Warren St., N. Y. Gude’s Pepto-Mangan Tonic and Blood Enricher* A Good Thing—DON’T MISS IT. Send your name and pddress plain ly written together wrth 5 cents (and this slip to Chamberlain Medi cine Co., Des Moines, lowi., and re ceive in return a trial package con taining Chamberlain’s Cough Rem edy for coughs, colds, croup, bron chial, “flu” and whooping coughs, and tickling throat; Chamberlain’s Stomach and Liver tablets for stom ach troubles, indigestion, gassj pains that crowd the heart, bilious ress and constipation; Chamber ia.n’s Salve, needed in every fam k.’ for burns, scalds, wounds, piles, and skin affection; these valued family medicine for only 5 cents. Don't miss it.—adv. Arrival and Departure of Passengc. Trains, Americus, Ga. Central of Georgia Ry. Central Standard Time Arrive Depan 12:01 am Cols-Bghm-Chgo 3:45 am 12:37 am Chgo-St. L., Atl 2:53 an 1:54 am Albany-Jaxville 2:10 an> 2:10 am Cin-Atl-Chgo 1:54 air 2:53 am Albny-Jaxville 12.37 an 3:45 am Albny-Jaxville 12:01 am 5:14 am Macon-Atlanta 10:35 pm am Albany 7:21 pm 19.20 am Columbus 3:75 i>.-v 12:20 pm Cols-Bham-Chgo 2:40 pm 1:18 pm Chgo-St. L. Atl 2:01 pm 1:51 pm Albany-Montg’y 2:17 pm 2:01 pm Alb-Jax-Miami 1 ;18 pm 2:17 pm Macon-Atlanta 1:51 pm 2:40 pm Alby-Jax-Miami 12:20 pm 7:21 pm Macon-Atlanta 6:37 am 10:35 pm Albany-Montg’y 5:14 am SEABOARD AIR LINE (Central Time) Arrive Departs 10:05 am Cordele-Hel’na 5:15 pm 12:26 pm Cols-M’t’g’y 3:10 p.„ 3.1® pm Cordele-Savh 12:26 pn 5:15 m» Richland-Cols 10 : 05 an HAVELUNCH With Us Sandwiches, Hot Chocblate, Tomato Bouillion, Hot Cof fee, all hours during the day, at Americus Drug Co. r— —— ♦-Q ANNUAL AUDITOR’S REPORT UPON Macon, Georgia, January 5, 1924. To the Mayor and Council, City of Americus, Georgia. Gentlemen: ' * • '<-<'4 We have now competed our audit of accounts of the City of Amer icus for the calendar year 1923, and submit the results of our audit in the following exhibits and their supporting schedules. Exhibit “A” Summary of the various Balance Sheets, December 31, 1923. Exhibit “B” Detailed Balance Sheets, December 31, 1923. Exhibit “C” Comparative Statement of Budget requirements and - current year’s operation. Exhibit “D” Statement of Income and Expenses. Exhibit *‘E” Statement of Water department earnings. Schedule No. 1 Reconciliatio nos current fund bank balance. Schedule No. 2 Petty cash on hand. Schedule No. 3 Uncollected taxes. Schedule No. 4 Street department Accounts Receivable. Schedule No. 5 Sundry Accounts Receivable. Schedule No. 6. Bills Payable. Schedule No. 7 Accounts Payable. Schedule No. 8 Recnocilation of bank account—Floating Debt Commission. Schedule No. 9 Floating Debt Adjustment. Schedule No. 10 Reconciliation of bank account—Trust funds. Schedule No. 11 City Property. Schedule No. 12 Reconciliation of Bank account —Sinking Fund. Schedule No. 13 Bonded Debt. We are of the opinion that the above statement® when considered in connection with the comment which follows sets for the financial status of the City as of December 31, 1923, and trust that they will suffice for your needs. Respectuffly submitted, DODGE & GILLELAND, • Public Accountants. Comments On Balance Sheet Cash in Banks: (Curent Funds) $1,685.82 Thes e amounts were verified by certificates received from the re spective banks. All cash disbursements were supported by properly ap proved vouchers, the details of which were found to support the amounts thereof. Minor errors were called to the attention of the City Clerk and Treasurer, and have been, or are being corrected. All cash receipts were promptly deposited in the respective banks. Petty Cash on Hand X $ 500.00 Was verified by count as set forth under Schedule No. 2. Attention is directed to several checks of very doubtful value, many of which should be charged off, thereby increasing the Floating Debt as of January 1, 1923 as they were of no value as of that date. The current or future years should not be compelled to face a deficit or account of worthless assets carried on the accounts. This suggestion is made in view of the recent Act of Georgia State Legislature creating a Floating Debt Comission to liquidate the floating debt as of January 1, 1923 and we ar e of the opinion that any uncollected taxes or other ac counts receivable proven worthless as of that date should also be charged off or reserved for at once. Taxes, Street Accounts Receivable. The control accounts wer e checked in detail and after sundry adjustments are made the individual accounts will be in agreement witl th e general ledger control. Street Accounts Receivable are set forth in detail on Schedule No. 4. Sundry Accounting Receivable $ 277.44 The details of this account are shown on Schedule No. 5. The majoi portion of this amount is uncollectible and should be charged off. City Property $ 1,190.05 This amount represents the cost to the City of all property acquir ed on account of unpaid taxes. Bills Payable ............. ..... ..$65,470.50 The details of this item are shown on Schedule No. 6. Verification certificates received from the Bank of Commerce states that notes listed to their credit for account of D. B. and R. J. Kill have been sold to Frank Sheffield. Accounts Payable ...o: $59,610.78 This amount is set forth in detail on Schedule No. 7. Attention is directed to the amount due the Planters Bank, account of Schools Voucher discounted during the current year (45.973.36.) While it is plainly shown on the current fund balance sheet, Exhibit “B” that this obligation was incurred during 1923 to liquidate liabilities out standing prior to January 1, 1923, the act creating the Floating Debt Commission provides that no obligation incurred subsequent to Jan uary 1, 1923 can be paid from the funds of this Commission, unless the obligation was incurred by the Commission to liquidate liabilities out standr,g as of January 1,1923. This question is of great importance to the financing of th e cur rent funds and if it is ruled by the City Attorney as unlawful to con sider this obligation as being part of the Floating Debt as of January 1, 1923, provision will have to be made to change the present method of financing the School Board. Unpaid' Appropriations $60,829.54 This amount represents the balances due the Sinking Fund and the Floating Debt Commission on account of their proportion of the tax levy. The Floating Debt Commission is a current balance having accrued over the past year whereas the Sinking Fund balance amount ing to $52,385.12 has accumulated over a period of years and should b e paid from the special tax levy for Floating Debt liquidation. The 1923 tax levy provided a tax of two (2) mills for Sinking Fund purposes. This levy produced revenue of $11,139.43 against which bond interest of $10,544.47 was paid, leaving a balance of $594.96 for the re tirement of the bonds. The acts authorizing the issuance of the bonds provides that each year during the life of the (bonds a sufficient sum should be set aside to pay the bond interest and the prorata amount of the principal. The present requirements under this provision are follows: Bond Interest ..$ 10,020.00 Bond Principal 7,433.33 Yearly Appropriation 17,453.33 Water Consumers’ Deposits $ 3,475.65 This amount represents an advance made by Water Consumers and held as a deposit for current charges. Reserve for Tax Adjustment $ 15,249.17 Due to the change of the fiscal year from June 30, 1921 to Decem ber 30, 1920, it would appear that the City Government had levied r tax of five (5) mills for six months’ government expenses, whereas the law allows them only (5) mills per annum. This reserve sets aside fifty per cent of the proportion of the 1920 tax levy for general governmen purposes and should be applied to reduce future taxation. Floating Debt Liabilities $135,018.82 In accordance with the provisions of a recent Act of th e Georgia State Legislature, wo have transferred this amount, representing the Floating Debt as of January 1, 1923, after deducting such payments as were made d'-rog the year under review, to a special fund called “Floatir,--’.' Debt Commission.” Cash on Hand, Floating Debt Commission Fund $ 606.63 This amount was verified by certificate received from the bank. All cash receipts were promptly deposited ami all cash disburse ments wer e supported by properly approved vouchers and their sup porting documents. All disbursements were made on account of indebt edness incurred prior to January 1, 1923. Floating Debt Adjustments .... ....................................... ... 3,758.58 This amount is set forth in detail on Schedule No. 9 These charges were entered on the City records subsequent to January 1923, and were on account of losses incurred prior to that date and therefore tend to increase the Floating Debt as of January 1, 1923. A careful investigation of all the receivables should be made at once in order to ascertain the correct status of the Floating Debt as of January 1, 1923, as it is doubtful if the law will allow this amount to be adjusted in future years. We have made no attempt to verify the receivables by corespond ence with the taxpayers, etc., nor does the previous auditor’s report indicate that they have verified these accounts in that manner, and un til this is done the exact amount of the Floating Debt as of January 1, 1923, cannot be obtained. Trust Fund $ 233.21 Cash in bank was verified by certificates received from the deposi tory. There has been no change in this account during current year. Sinking Fund—City Property $683,062.10 This item is shown in detail on Schedule No. 11. The only changes during the current year is the addition to the Unsalable Property for the Sewer Extension on Lee street amounting $1,449.88. Sinking Fund Cash in Bank $ 8,498.91 This amount was verified by certificate received from the Planters Bank. All cash receipts were promptly deposited and all expendi tures were made on properly approved and supported vouchers. This amount represents cash advances made to cover bond interest Advaned for Bond Interest . $ 3,402.50 due on January 1, 1923. We have set up a reserve for this amount as shown on Exhibit ‘B.’ ' Bonded Debt . .... $223,000.00 This amount is set forth in detail on Schedule 13. In respect to I this amount, we woufd call attention to our comments on Sinking Fund ! Appropriation, listed under Current Fund comments. General Comments. ' A comparison of the results of the year’s operations with those of the previous year indicate a substantial reduction in the City’s ex- THE AMERICUS TIMES RECORDER ' penses and while the current fund' indicates a deficit for the current yea rof $2,185.74 against a surplus of $857.95, this is the result of the reduction of the income and the necessity of expended monies for im provements and betterments. Attention is directed to the high rate of interest charged and paid on the qustanding indebtedness. In: most instances creditors are be ing allowed interest at the rate of 8* per cent per annum on open ac counts, whereas the delinquent tax pa yers ar e charged only 7 per cent interest. The for the current y ear on the Floating indebtedness was $8,696.76 or in excess of the revettiue received on a levy of one and one-half (1 1-2) mill tax. This reduces the tax assessment applicable to floating Debt principal to less than three and one-half (3 1-2) mills and as the Sinking Fund is not being sufficiently provided for, and will shortly need a substantial portion of this levy, it is doubtful if the re cent legislation will afford any material relief. We are of th® opinion that inasmuch as monies have been appro priated from time to time from the current fund for permanent im provements in anticipation of a subsequent bond issue, that it would be possible to secure the authorization of an Improvement Bond Issue and reimburse the City for monies expended on improvements heretofore made. The financial condition of the City surely warrants the issuance of bonds for this purpose inasmuch as the permanent fund shows a sub stantial surplus, whereas the current fund has been depleted by cap ital expenditures, all of which should have been financed by bond issue. This suggestion, if followed would in our opinion effect a net saving of approximately SIO,OOO per annum. We wish to thank the City Officials and Employees for the assist ance and many courtesies extended us during the course of our audit. Respectfully submitted, DODGE & GILLELAND, \ Public Accountants. Exhibit “A”— • CITY OF AMERICUS, GEORGIA Summary of Various Balance Sheets, December 31, 1923. Assets — Current Funds, per Exh. ”B” $ 67,476.08 Floating Debt. Commission, per Exh. “B” $ 9,051.05 Trust Funds, per Exh- “B” 233.21 1 Permanent Funds, per Exh. “B” 747,348.63 $824,108.97 Liabilities— Current Funds, per Exh. “B” $ 69,661.82 Floating Debt Commission, per Exh. “B” 135,018.82 Trust Funds, per Exh, “B” 233.21 Permanent Funds, per Exh. “B” 226,402.50 . $431,316.35 Net Surplus* December 31, 1923 $392,792.62 Net Surplus— Current Fund, deficit per Exh. “B” $ 2,185.74 Floating Debt Commission, deficit per Exh. “B” 125,967.77 i Total Deficit $128,153.51 Permanent Fund Surplus, per Exh. “B” 520,946.13 Net Surplus, as above $ 392,792.62 Exhibit “B” CITY OF AMERICUS, GEORGIA, BALANCE SHEETS December 31, 1923. CURRENT FUNDS Current Assets Cash on Hand, in Banks— Planters Bank of Americus, Schedule No. 1 $ 1,681.83 Bank of Commerce, Americus, Schedule No. 1 3.99 t $ 1,’685.82 Petty Cash, on hand, Schedule No. 2 500.00 Cash Receipts, tor deposit - 1,619.37 $ 3,805.19 J Uncollected Taxes, Schedule No. R ... ...$ 56.980.05 Deduct, Reserve for doubtful taixes 944.1.54 - . , ’ $ 47,530.51 Water Accounts, Receivable A .7 777,17 Street Dept., Accounts Receivable, Schedule No. 4 .... 4,682.88 Deduct—Reserve adjustments 52.82 $ 4,630.06 Board of Education, Appropriation overpaid 1,415.66 Sundry Accounts Receivable, Schedule No. 5 227.44 Water Department, Fuel Inventory «... 900.00 Property, (Acct, of Unpaid Taxes) ..., : 1,190.05 Total Current Assets $ 67,476 08 (1) Deficit, for one year endtd Dec. 31, 1923, per Exh - “C" 2,185.74 T °tal $ 69,661.82 Current Liabilities Bills Payable, Schedule No. 6 $ 65,470.50 Accounts Payable, purchases; Schedule No. 7 59,610.78 Unpaid Appropriations (see contra) Sinking Fund 52,385.12 floating- Debt Commission 8,444.42 $ 60,829.54 Water Consumers’, Deposits 3,475.65 Reserve for Tax Adjustments 15,294.17 Total Current Liabilities $204,680.64 Deduct Floating Debt Liabilities Taken Over by Float- ing Debt Commission (See below) 135,018 82 Total $ 69,661.82.... FLOATING DEBT COMMISSION FUND Assets Cash on Hand— Planters Bank of Americus, Schedule No. 8 $ 606.63 Current Fund, Unpaid Balance 1923 Appropriation (See contra) 8,444.42 Total Assets ? 9,051.05 Deficit, January, 1923, $145,119.58 Less, Net revenue for year, Exh. “C” ...$ 19,151.81 T , . . t $125,967.77 Total Assets $135,018.82 Liabilities Floating- Debt— January 1, 1923, per Auditor’s Report $141,361.00 Plus, Adjustments; Schedule No. 9 3,758.58 _ , $145,119.58 Deduct payments made by Commission 10,100.76 $135,018.82 Balance from Current Fund $135,018.82 TRUST FUNDS Assets Cash on Hand, Planters Bank of Americus, Sched. No 10 . - $ 233.21 Liabilities Receipts, From Property sale in excess of taxes due ... $ 233.21 Exhibit “B’’ A CITY OF AMERICUS BALANCE SHEETS * December 31, 1923 Assets Capital Assets— ' ’ Salable Property, Schedule No. 11 $440,136.28 Unsalable Property, Schedule No. 11 243,925.82 $683,062.10 Sinking Fund Cash Balances— Planters Bank of Americus, Schedule No. 12 $ 8,498.91 Advanced for Bond Interest Due— Hanover National Bank, New York 3,322.50 American Exchange National Bank, New York ’ 80.00 Total $ 3,402.50 AMERICUS GEORGIA, FEBRUARY 5, 1924 Unpaid Sinking Fund Appropriations (see contra) 52,385.12 Total Assets - $747,348.63 Liabilities Bonded Debt, Schedule No. 13 $223,000,000 Reserve for Outstanding Interest Coupons 3,402.50 Total Liabilities $226,402.50 Permanent Surplus, As of Dec. 31, 1922 $518,901.29 Increase for year, per Exh. “C” 2,044.84 Surplus, Dec. 31, 1923 $520,946.13 1 ■ Total Liabilities $747,348.63 (1) This deficit incurred by necessary expenditures for sewer improvement on Lee street ($1449.88) and repairs to coal trestle ($747.62.) Exhibit “C” COMPARATIVE STATEMENT OF THE BUDGET REQUIREMENT AND THE OPERATIONS FOR THE YEAR ENDED DECEM- BER 31, 1923 Current Fund— Budget Estimate in Exces sos Actual Rev. Ex. C-2....$ 2,567.38 Actual Revenue in Excess of Bud. Est’s. Ex| C-2 279.65 Net Deficit due to over-estimated Revenue - ..$ 2,287.73 Add—Expenses in Excess of Budget Appropriations— General Government; Exhibit C-2 $ 369.54 Police Department; Exhibit C-2 146.40 Fire Department; Exhibit C-2 590.33 Cemetery Accounts; Exhibit C-2 9.10 Water Department; Exhibit C-3 733.34 Miscellaneous Accounts; Exhibit C-3 189.49 Net Deficit due to over-expended appropriations.., $ 2,038.20 $4,325.93 Deduct— Street Department Expense less than appropriations; Exhibit C-3 $ 1,057.03 $ 3,268.90 •:i t ; / Ad»— Health Inspection Expense $ 667.96 Less, Revenue received from same 504.00 $ 163.96 $ 3,432.86 Charges not provided for by appropriations; Ex. C-3 ....$ 2,358.62 $ 5,791.48 Deduct— Revenue not appropriated; Exhibit C-3 3,605.74 Net Current Deficit, to Exhibit B $ 2,185.74 Floating Debt Commission— Total Revenue, 5 mill tax, calendar year 1923 $ 27,848.57 Total Expense, Floating Debt Interest 8,696.76 Net Revenue, for calendar year 1923, to Exhibit B ....$ 19,151.81 Permanent Fund (Sinking Fund, etc.) ;Revenue— -8 mill tax for Sinking Fund $ 11,139.43 Increase in property improvements due to sewer exten- sion in Lee street j 449.88 „ $ 12,589 31 Expense— „ • 1 . Bond Interest /. $ 10,544.47 Net Revenue, for calendar year 1923, to Exhibit B ....$ 2,044.84 Exhibit “C”-2 Budget Estimates in Excess of Actual Revnue— BUDGET ACTUAL DEFICIT ESTIMATES REVENUE : Gen ’>- Gov’U 5 mill tax $28,283.94 $27,848.56 $ 435 38 Special Business Licenses 24,000 00 23,269.00 731 00 Fohce Fines 5,000.00 4,453.00 547'00 Street Taxes 3,200.00 2 x 577.50 622.50 Surface Closets 3,100'.00 2,868.50 231.50 Total to Exhibit C-l $63,583.94 $61,016.56 $ 2,567.38 Actual Revenue in Excess of Budget Estimates— SURPLUS Cemetery .... $ 30 0.00 $ 360.00 $ 60.00 Water Department 25,000.00 25,219.65 219.65 Total to Exhibit “C”-l $25,300.00 $25,579.65 $ 279 65 APPR °- SURI-LUS OR . a PRIATIONS EXPENSES DEFICIT Appropriation Accounts, General Government— Mayor’s salary $ 900 .00 $ 900.00 $ Aidermens Salary 540.00 517.50 22 50 Mayor Pro-Tern’s salary 60.00 60.00 City Clerk and Treasurer 2,400.00 2 400 00 Legal Expenses 2,700.00 2,700.00 Audltln » 500.00 500.00 fax Assessors 450.00 450.00 Election Expenses, ($25.00) 25.00 20 20 480 Printing and Supplies 350.00 379 73 29 73 Advertising 15000 3 Legal Expenses .... 2,700.00 2,700.00 —— Incidentals 214RK F'olieJ Depart™™. o - 1 ” Maintenance of Prisoners 150.00 57.44 92 56 ™ Pnjw .s!™!™” - - 512.360.00 512.360.00 S-- . PP 2,500.00 3,090.33 590.33 * c -‘ - i4 - 8oo<i(i Malntcnance 100.00 131 00 31.00 APPRO Exhibit C-3 ™' A ™ N ' S Sanitary Sewer and Connections .. $ 2,000.00 $ 1,325.76 $ 674 24 Cleanins and Sweeping 6 ‘ 58 Bridge Repairs 2 00.00 153.73 '’JJJ'g? p l S eet Lights .................................. 5,500.00 4,188.65 1 31135 Refuse Disposal 2,500.00 2,744.89 244 80 Suuace Closets 2,500.00 2,925.47 42547 Geneial Supplies and Repairs 1,200.00 897.54 309 4C Wages ... 5,305.00 4,875.87 429 13 Pumping station Sup. and Repairs.. 1,500.00 902.76 597 24 JJf 10,500.00 13,309.80 2,809’.80 Printing and Stationery 150.00 165.92 1509 New Equipment 1,000.00 . 290.49 709 61 c ‘ dentals 100.00 32.70 67 30 Mcters » 1,500.00 1,814.15 314.15 Total Water Dept. Exh. C-l . ..$23,425.00 $24,158.34 $ ' 777 Miscellaneous * Maintenance of Land and Bldgsl,ooo.oo $1,177.39 $ 17730 Donations and Relief 200.00 212.10 12'in Library 1,200.00 1.200.00 Hos P ,ta l 600.00 600.00 , Total Misc. to Exh. C-l $3,000.00 $3,189.49 s~'lß9 _ 49 Charges Not Provided for By Appropriation Refunds, Water Department ... t iim Refunds, Taxes ..7ZZ7Z7Z7? Repairs to Trestle -.i” c 9 > Total to Exhibit C-l » ~ 350/0 Improvements, Le e Street Sewer I'd’lO RQ Revenue Not Appropriated— ’ Interest on taxes $ Q()

Georgia Historic Newspapers

Americus times-recorder. (Americus, Ga.) 1891-current, February 05, 1924, Page PAGE FOUR, Image 4