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CITY OF COVINC.TON, GA.
Examination of Accounts
January I st - - June J>0th, 1913
August 9th, 1913.
To the Mayor and Council
City of Co Yin ft on Georgia
Gentlemen: accounts.
EXAMINATION of
JANUARY 1st«JUNE 30. 1913.
In ns. v have made an examination of
the books aad rtwris of the City of Covington for the period named above,
and present ©ar report herewith.
The result of the f.r.anwal operations for the six months under review is
as follows; $23,014.33
Revenue all sources ......
Expenses ......................................... 17,217.26
Revenue over Operating Expenses ................$5,797.07
Of the excess shown above, $2,950.00 has gone into permanent improve¬
ments, $1,000.00 has been added to the Sinking Fund, and $1,000.00 expended
for the retirement of Bonds.
COMMENT AND REVIEW.
Fixed Assets $164,341 50
As before stated, this value has increased $2,950.00 during the period re¬
viewed. The greater part of this amount, or $1,830.00, was expended on Side¬
walks; Electric Light Plant and Extensions $650.00; Streets, for land
$390.00, with minor amounts on Police Department, Water Works and Sewers
Sinking Fund $4,000.00.
Increased $1,000.00 by reason of purchase of Sewer Bond No. 53.
We saw all the bonds comprising this account.
Current Assets $8,865 92.
Cash on hand and in Bank $3,651.31. This amount was verified.
Time Certificate $300.00. Saw this certificate, which constitutes a fund
for upkeep of Cemetery lots and given by the following parties:
Jno. P. Harris ........................................$50.00
I. W. Brown ......................................... 100.00
Jno. S. Cook ......................................... 150.00
$300.00
Accounts Receivable, Water and Light $1,766.55. Of this amount, there is
$1,253.39 on the Consumers Ledger. Detail of all except the June charges
are shown on Schedule 1. There is $513.16 not on Consumers’ Ledger.
The detail of this amount is shown on Schedule 2.
Cemetery Accounts $292.50. Detail on Schedule 3. We had considerable
difficulty in compiling this list, and there was $8.70 for which we could not
account, owing to the fact that we could not pick out the accounts composing
the sum of $444.70 at January 1st, 1911.
Paving Accounts $1,342.06. For detail see Schedule 4.
Street Taxes, White $S62.00, Colored $583.50. We do not attach a sched¬
ule of the names composing this amount, as they are clearly shown on the
blotter Digest in the Clerk’s office.
Dog Tax $68.00. In arriving at this amount, we have estimated that there
would be $100.00 collected during the year from this source, which is approx¬
imately what was collected for the years of 1911 and 1912. Of course no list
could be furnished for an estimated amount.
Deferred Assets $10,400.79.
Advalorem Taxes $10,224.19. This amount is estimated on the basis of
1912 taxes. It should be borne in mind that it is purely an estimate and the
real results may vary somewhat from the amount here stated.
Unearned Interest $176.60. This amount is set up in order that the pe¬
riod under review should not bear the expense of a subsequent period.
Bonded Indebtedness $77,000.00.
They are as follows:
January 1, 1896 School Bonds $1,000 yearly from 1906, 6 per cent...? 2,000.00
November 1, 1908 Water Bonds due Nov. 1, 1938, 5 per cent .. 38,000.00
November 1, 1908 Sewer Bonds due Nov. 1, 1938, 5 per cent 22,000.00
July 1, 1901 Light Bonds due July 1, 1921, 5 per cent......... 15,000.00
Total ...................................................$77,000.00
School Bonds Nos. 15 and 16, $500.00 each, have been retired during the six
months reviewed.
Current liabilities $12,458.32.
Notes payable $12,458.32. They are as follows:
Date Due Rate Amount
Sept. 14, 1912, T. J. Swann Estate 8 per cent. . .$ 2,000.00
Jan. 7, 1913, Miss S. A. Heard, 8 per cent. 918.00
Jan. 28, 1913, “ 8 per cent. .. 2,483.30
Mar. 4, 1913, Pat McGuffey, Dec. 4, 1913, 8 per cent. 550.00
June 7, 1913, Bank of Covington, Dec. 7, 1913, 8 per cent. . . 5,000.00
June 20, 1913, W. A. Berry, Dec. 20, 1913, 8 per cent. . . 1,500.00
Total ...................................................$12,451.30
Accounts payable $7.02. This is composed of balance Account Cotton S.
B. & S. Co. $6.76 and balance account W 7 est. Lamp Co. 26 cents. They are
old accounts brought over from 1910.
Deferred Liabilities $2,858.50.
Mayor’s Salary $100.00, Council Salaries $60; Interest on School Bonds
$60.00; Interest on Light Bonds $375.00; Interest on Water and Sewer Bonds
$2,000, and on Notes Payable $263.50. These are set up so that no interest
expense applicable to the time before July 1st would show as an expense
in the following year.
These are all of which we could find a record.
Memorandum Accounts $1,434.00.
In order that this six months would show the revenue belonging in the
period, and that the assets would show the amount collected or due, it was
necessary to set up these accounts. They are not liabilities, but revenue
applicable to a future time.
Assets Over Liabilities $93,857 39.
We again point out this Surplus is all a fixed or practically immovable val¬
ue. That is to say, the contra of it is represented in the Fixed Assets. Hence
it is uncurrent and not usable as is the ordinary fund.
PROFIT AND LOSS ACCOUNT.
On Exhibit B attached hereto, we give the detail of charges and credits to
Profit and Loss. It will be seen that only about $500.00 is charged off, cov¬
ering a period of two and one-half years. Much of this is accounted for by
errors on Tax Digest, particularly names of parties who live outside the city
limits. There are probably a few of the Light and Water accounts that will
be paid, but in order to start the new year off with clear and clean records,
we have deemed it better to charge off all questionable amounts. Should
any of these old accounts be collected, they should be credited direct to
Profit and Loss.
RECOMMENDATIONS.
In addition to the General Ledger recommended in our previous report, we
suggest that a small Journal be used, so that nothing but cash transactions
need go on the Journal of Receipts and Journal of Disbursements. In con¬
nection with this, we recommend that no charges except those for current
and water consumed be placed on the Consumers’ Ledger.
Regular Ledger accounts should be opened for the Miscellaneous charges,
the entries being made on the Journal above referred to. If this is done,
the chance of failure to collect these charges is greatly diminished. A sec¬
tion of the General Ledger could be set apart for these accounts and regular
invoices rendered, leaving the Water and Light collections on the same bill.
When charges are to be made, they should go on the books and not be held
as memoranda.
The Consumers Ledger should be proven each month after all the collec¬
tions are in. This will determine whether or not all charges and credits
have gotten on this book.
CONCLUSION.
We present this report in the form of two Exhibits and seven Schedules
all of which are attached hereto, as follows, namely:
EXHIBIT A—STATEMENT OF ASSETS AND LIABILITIES JULY 1, 1913.
Schedule 1 Uncollected Water and Light Accounts, June 30, 1913.
Schedule 2—Uncollected Water and Light Accounts. Not on Ledger
Schedule 3—Unpaid Cemetery Accounts.
Schedule 4—Unpaid Paving Assessments.
Schedule 5—Statement of Receipts and Disbursements, January 1st to June
30, 1913.
Schedule 6—Statement of Revenue, January 1st to June 30, 1913.
Schedule < Statement of Expenses January 1st to June 30, 1913
EXHIBIT B—Condensed Statement of Revenue and Expense and Profit
and Loss Account January 1st to June 30, 1913,
All of which Is,
Respectfully submitted,
JOEL HUNTER & CO.,
Certified Public Accountants,
xamination made by Mr. James R. Harper
Audit No. 1,594.
CITY OF COVINGTON, GEORGIA.
STATEMENT OF ASSETS AND LIABILITIES JULY 1, 1913.
ASSETS.
Fixed Assets:
Miscellan¬
Lands Buildings Equipments eous Total
Police Depart
ment $ 585.50 7.95 591.45
. . .
Light 875.00 2 000.00 22,420.61 25,295.61
, 3-7,180.10
Water Works 875.00 2 , 000.00 34,305.10
Streets . . . 2,663.13 2,663.13
Fire Depart¬
ment . . . 2,000.00 1,755.00 3.755.00
Sewers . . . 22,106.87 22,106.87
Sidewalks . . 10,797.34 10,797.34
Cemetery . . 1,952.00 1.952.00
Schools . . . 9,000.00 20 , 000.00 6,800.00 35.500.00
City Clock . . 500.00 500.00
Pest House . 75.00 150.00 225.00
Bridges . . . 3,500.00 3.500.00
Parks . . . 19,975.00 19.975.00
Total Fixe
Assets . . $32,752.00 $26,733.50 $58,488.66 $46,367.34 $164,341.50
Sinking Fund . . . .$4,000.00
Current Assets:
Cash on hand and in bank........ $ 3,651.31
Time Certificate............. 300.00
Accounts Receivable:
Water and Light Accounts, on Ledger
(Schedule 1).............. 1,253.39
W T ater and Light Accounts, not on
Ledger (Schedule 2) ......... 513.16
Cemetery Accounts (Schedule 3) . . . . 292.50
Paving Accounts (Schedule 4)..... 1,342.06 3,401.11
Street Taxes—White.......... 862.00
“ “ —Colored........ 583.50 1,445.50
Dog Tax................... 68.00
Total Current Assets.......... $8,865.92
Deferred Assets:
Advalorem Taxes one-half 1913 Estimated.......$10,224.19
Unearned Interest 176.60
Total Deferred Assets $ 10,400.79
Total Assets $187,608.21
LIABILITIES.
Bonded Indebtedness ................ $ 77,000.00
Current Liabilities:
Notes Payable...................$12,451.30
Accounts Payable................... 7.02
Total Current Liabilities $ 12.45S.32
Deferred Liabilities:
Mayor’s Salary, six months 100.00
Council Salary, six months 60.00
Interest on School Bonds 60.00
Interest on Light Bonds 375.00
Interest on Water and Sewer Bonds......... 2,000.00
Interest on NotesPayable.............. 263.50
Total Deferred Liabilities 2,858.50
Total Liabilities...... $ 92,316.82
Memorandum:
Business Licenses, Unearned 590.00
Street Taxes, Unearned . . . 794.00
Dog Taxes, Unearned .... 50.00
Total Memorandum Accounts . . 1,434.00
Assets over Liabilities July 1, 1913 93,857.39
$187,608.21
EXHIBIT A
CITY OF COVINGTON, GEORGIA.
Wiring Accounts, on Ledger. 1913.Uncollected Water, Light, Motor and
Cr.
Brooks, C. C. Store, Balance April.............$ 25.00
Brooks, C. C. Store, All May................ 17.20
Brooks, C. C. Residence, All May.............. 2.51
Covington Fruit Stand, Overpaid.............. .11
Crenshaw, C. B., Miscl. March................. 6.00
Clark, Lewis, April $1.00)..................
May $1.00).................. 2.00
Dixie Feather Bed Co., 1912.................. 1.15
Flowers Hotel, Balance May................. 20.00
Hinton, Chas. April Water.................. 1.00
Hayes, A. N„ 1912.................... 2.15
King, C. C. May.......................... 2.15
Lester, R. P. March Miscl.................... 2.25
Lumsden, J. E. Balance February................ .08
Marshall, M. M. April $55.60).................
May 53.20)............. . . . . 108.80
McGaughey, R. J. May..................... 2.79
Noland, T. J. April $ 8.00)..................
May 49.00)................... 57.00
Piper, J. S. 1912......................... 1.23
Rogers, J. F. Res., May Miscl.................. 6.00
Rogers, H. B. All May..................... 32.65
Rogers, P. J. April Miscl..................... 13.60
Standard Oil Co. April $1.00).................
May 1.00)................ 2.00
Smith, Dr. T. N. May...................... 7.73
Smith, Carl May........................ 28.15
Smith, Geo. T. Store, Balance May............... 65 30
Shields, T. J. 1912....................... 2.50
Walton, G. Q. February...................... 1 40
$ 410.64
Credit Balance......................... n
Past due on Consumers’ Ledger....................5 410.53
June Charges (Detail on Ledger)............... 842.86
Total on Ledger......................$1,253.39
SCHEDULE 1.
CITY OF COVINGTON, GEORGIA.
Unpaid Water and Light Accounts Not On Ledger.
1913.
Benton Scott ............................................ $ j £5
Covington Mills Dec. 1912 .................................’ ..............................’ . 2.50
Covington Mill Church 14.50
Daniel, R. T............................................ g qo
First National Bank .................................... 13 go
Harwell, Felix............................................ 3
Heard, T. W...........................................’ H.......................................* * ’ ’ 29*00 ' 25
Mobley, E.
Milner, John ........................................... Y 00
Mann, E. S..................................... T...........................!! I !!!]!!.*.* j jq
Milner, W. i!!!.’]! ' 6 00
Swann Co., T. C........................................ 8 08
Stanton, Swanson, Frank ........................................ ' j’qq
C. B........................................ 2 25
Terrell, C. D.......................... 19 or
Vining, J. R......................................' '75 75
Ward, Dr.......................................
Wright, J. A...................................12 85
Walton, C. Q....................... ’
Wright, H. Q.........................25 25
”
Marshall, M. M................................... 374
Simmons Grocery Co.............................. 19 00
Total 1913 .............................................$510.83
1912.
Brook, C. C.......................................... 4 0
Lester, R. P.......................................
’
Harvey, Mrs....................................... 25
Milner, W. T.................................... $1 28
Total 1912 .............................. „
™>'..................... ............... :::::::::::: )S13 „
SCHEDULE 2.
CITY OF COVINGTON, GEORGIA.
Unpaid Cemetery Accounts June 30th, 1913.
WHITE.
C-ober, W. J., Balance.......... $ 20.00
Everett, R. E.............................. ...................................... 00
R. W. W. Milner Willingham ,“
Mrs. ......................... 20.00
Smith, R. E. Balance ---- 15.00
Milner, A. R............. 25.00
Everette, E. S........... 15.00
Meadows, A. D........... 12.00
Camp & Stillwell, Balance 10.00
Patillo, R. E., Balance .. 6.00
Everette, R. E........... 15.00
M. E. Church ............ 6.00
Stewart, M. R............ 15.00
Total of Old Accounts .
136 Johnson, C. C........... 12.00 $209,oo
227 Fowler, A. S............ 15.00
55 W. A. Muse •25 00.
282 1-2 Taylor, J. E. & R. F. 15.00
COLORED 67.00
1911—December 1913.
Russell....... •$ 10.00
Cullen, Henry ., 1.50
■
Banks, C. L. 1.00
•
Kendrick, Mose .50
•
Brown, Gov. ... 1.00
•
Cooper, Bob .. 2.50
•
16.50
Total ........................................... ■$292.50
SCHEDULE 3.
CITY OF COVINGTON, GEORGIA.
Unpaid Paving Assessments June 30th, 1913 .
Total As¬ Balance
sessment Paid Due
E. Everett, Res............................. $58.58
M. Everett, Est.............................. 69.74
1-2— 128.32 $64.16 64.16
Joe Pace .......................... 61.48 30.74 30.74
F. D. Ballard ................................... 58.00 29.00 29.00
Mrs. W. B. Shepherd .......................... 22.04 22,04
J. J. Corley .................... 60.32 30.16 30.16
W. B. Shepherd ................................ 117.16 117.16
Mrs. Haney ................................... 84.49 84.49
J. F. Rogers ................................... 60.97 60.77
C. A. Harwell ................................ 100.00 100.82
R. W. Clark .................................. 68.44 68.44
C. C. King ..................................... 64.86 64,86
S. H. Adams ................................... 164.14 164.14
Dr. Ragsdale ............... 236.45 236.45
C. A. Sockwell ................................. 104.83 104.83
Central of Georgia Railroad ................... 10.64 10.64
C. A. Clark ................................... 61.24 61.24
S. C. Rheberg ................................ 92.12 92.12
SCHEDULE $1,342.06
4.
CITY OF COVINGTON, GEORGIA.
Statement of Receipts and Disbursements January 1st-June 30, 1913
RECEIPTS.
Advalorem Taxes ................................... $ 2,343.26
Business Licenses ................................... 1,180,00
Police Fines ........................................ 507.70
Light ..............................................$3,475.45
Light Material ...................................... 349.33
Light Miscellaneous ................................ 366.33 4,191,11
Water .............................................. 1,422.13
Water Material ..................................... 18.00
Water Miscellaneous ............................... 7.10 1,447.23
Street Taxes ........................................ 142.50
Street Material ...................................... 147.22
Street Miscellaneous ................................ 289.72
Dog Taxes .........................j........................... 32.00
Upkeep Cemetery .............................................. 50.00
Paving Assessment Collected ................................... 605.71
Interest, on Paving Accounts .......,........................... 22.39
Borrowed Money .................. 7,050.00
Sanitary Tax ......................I........................... 15,75
Cemetery Lots ..................... j ........................... 101.50
Rent, Club Room ........................................$7.50
Rent, House ............................................$3.50 11.00
Total Receipts .................................................$17,947,37
Cash on hand January 1, 1913 ................................... 3,251.20
Total to account for........................................$21,198.57
DISBURSEMENTS.
Police Department Equipment ..................................$ 7.95
Electric Light Extension, etc................................... 661.46
Water Works, Extension, etc....................... 43.10
Sidewalks ........................................]............ 1,832,00
Sewers ...................................................... 16.37
Streets—Land ....... 394.40
Bonded Debt .................................................. 1,000.00
Sinking Fund .................................................. 1,000.00
Accounts Payable due former Trea-.u.er........................ 21.49
Surplus, Sundry Accounts Paid by former Treasurer ............. 140.63
Sundry Expenditures (See Schedule 7) ......................... 12,429.86
Total Expended ............................................$17,547.26 1913.......................’.............
Cash on hand June 30, 3,651.31
21,198.57
SCHEDULE 5.
CITY OF COVINGTON, GEORGIA.
............ Revenue January 1st to June 30, 1913.
Advalorem Taxes estimated on basis of 1912 $10,224.19
Lights and Water:
Lights—Charges per Consumers' Ledger ...$3,361.86
City Lights (all Departments) 1,668.00
............
Total Lights ............................ $5,029.86
Water—Charges per Consumers’ Ledger ...$ 1,455.47
City Water (all Departments) 437.50
...........
Total Water ........................... 1,892.97
Miscellaneous Charges on Consumers’ Ledger 855.81
Miscellaneous Charges not on Consumers’
Ledger ................ 660.67
Total Water and Light Earnings 8,439.31
.
Business Licenses—Total Collected $1,180.00
Earned one-half........ 590.00
Street Taxes—Assessment $1,588.00
Earned one-half........ 794.00
Dog Tax—Estimated 100.00 50.00
Earned one-half ..
Paving Assessments—Collected .. 605.71 947.77
Uncollected 1,342.06 1 ,
Interest on Paving Accounts 28.89
Sanitary Tax 15.75
Cemetery Lots -.............. 115.00
Rent—Club Room.......... ............. 4.00
Upkeep Cemetery 50.00
Police Fines .......... 607.70
Street Material ............... 147.22
............
Total Revenue $ 23 , 014.33
SCHEDULE 6.
CITY OF COVINGTON, GEORGIA,
Statement of Expenses—January 1st to June 30, 1913.
CONTINUED ON NEXT PAGE
