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TB& CLEVELAND CotlftlER, CLEVELAND, GEORGIA.
State o{ (
StdfetMHt ^ @Md4$6lt
JUNE 30,1947 fS? ■ »V '
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/itut* >•
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*5 A.iiW ..
Call Stata Troowry............. I44JSMMR
k* 27,225,134.7®
C«h in hand* of Stata Dopartmnnt*...... 3,130,300.41 i
Cath duo from U. S. Oovornmont on RoimbunomonH
Total Ca*h .................. $74,93ft,»t«t
jiie&tUUA
~s^y agjjHBB 3#'*
**<<',*■
CURRENT v $ 3,105,534.31
Accounts Payable
RESERVES $ 2,762,541.50
for Commitmonti Outstanding ..................
for Board of Regenti Bond Fundi for Conitruction . . 4,140,500.00
for Sinking Fund to retire State Bondi and County Certificate!..... 1,340,801.98
(See oppoiite page) 10 614 292 60
for Matching Federal Road Fundi accrued to June 30, 1947 ........ U,\ 731,909.59 #*• SllL
for land Title Guarantee Fund............... • • ' •
For For Federal Agency Funds Fund* on on hand............. hand................. 4,619,847.40 f
Per Teacher Retirement Truit Fund.................. ' ' 00
Unearned Income....................... 16 246
for payable 10th July........... 6,201,676.98 Aoni A 7 Aon
for Revolving Fund of Agenciei
for Maintaining Aid to Common School! ...............
far Memorandum Operating Allotment!.............. 9,057,013.13 ___
for Income Equalization Reserve................. 902,566.55
Total Reserves.......... $66,676,391.46
Total Account* Payable and Re*erve* $69,781,825.9*
\ •Vh, " '1
SmftlM
L. CURflUS: (Cath over Account* Payable and Reierve* Applied on fixed debt, page 3). e e a • * $ 5,149,365.05
f») Highway Department Contract! to Mature Active Suspended Total
fetal Contract*................ $19,398,386.57 $ 481,380.79 $19,879,767.36
.
Ink 9,241,955.74 23,519.02 9,265,474.76
Regular federal Fund Participation...... $"
Net State Obligation for Contract* to Mature $10,156,430.83 457,861.77 $10,614,292.60
*?ttime ‘Deit State and
OilGATlONS—State Authorized
Dec. 31, 1940 Dec 31, 1942 Dec. 31,1946 June 30, 1947
Highway Obligations to Mature . . . . , . . $ 8,386,214.61 $10,733,955.34 $14,088,985.60 $10,614,292.60 (1)
General State Bonds of 1833 ..... . . 3,320,022.17 3,203,202.17 97,500.00 93,500.00 (2)
Highway Refunding Bonds of 1939 . . . . . 5,300,000.00 7,950,000.00 5,325,000.00 2,680,000.00 (»)
County Refunding Certif. of 1931 . . . 8,000,472.87 0 0
W & A Rental Discount of 1931 and 1938 . . 4,860,000.00 3,780,000.00 1,636,000.00 1,367,000.00 (4)
Hoipltaf Authority Bonds of 1939 . . . . . 2,390,000.00 2,294,000.00 0 0
Tattnall Prison Debt......... . . 1,051,088.27 0 0 0
Total $38,641,279.78 $35,961,630.38 $21,147,485.60 $14,754,792.60
U*t Cash:
Accumulated Operating Deficit.
Accumulated Operating Surplus . 7,619,494.57 1,002,260.31 5,149,365.05
Highway Contract Reserve . . . 0 14,088,985.60 10,614,292.6(8
Sinking Fund Reserves..... 2,546,720.00 7,058,500.00 4,140,500.00
$10,166,214.57 $22,149,745.91 $19,904,157.65
Net Obligations—State of Georgia...... $25,795,415.81
MM General State Surplus......... $ 1,002,260.31 $ 5,149,365.03
(*Net cash deficit.) P
OBLIGATIONS—Regents Authorized %
Georgia School of Technology Dormitory
Revenue Bonds issued May 1, 1946 ..... • • $ 3,750,000.00 $ 3,750.000.00 (Si
less Cosh: Total Regents authorized Obligations . ♦ 9 X 3,750,000.00 $ 3,750,000.00
Sinking Fund Reserves.......... • • .00 .00
Met Obligations—Regent* Authorized..... $ 3,750,000.00 $ 3,750,000.00
Net Obligations— State and Agenciei..... . . $53,170,146.09 $25,795,415.81 $ 2,747,739.69
Net General Surplus—State and Agencies . . . ....................... $ 1,399,365.05
0)—"Highway Obligation*"-The amount of State Funds required to complete all contracts outstanding and there it a cash reserve
“ to liquidate this item which is payable work
* as progresses.
(2) -AII "General State Bonds" outstanding are past due, but have not been presented for redemption. Cash reserve of $93 500 00
is held in Stale Treasury to liquidate this obligation. '
(3) —Of the "Highway Rounding Bonds" outstanding $30,000.00 in bonds are post due but have not been presented for redemp
gufion’iu j^j* 50,000 00 m bonds r ° m<rtwr * Mo ' el * ,5 ' 1948 ’ Ca,h Sinltin 9 Fund is held in the State Treasury to liquidate thi* oWi
Mb-Of the "W & A Rental Discount" warrants outstanding $17,000.00 in warrants are past due but have not been presented for
redemption, the remaining $1,350,0004)0 mature $45,000.00 on the first day of month beginning July 1, 1947 and for each
month thereafter through December 1, 1949. Cash Sinking Fund is held in the State Treasury to liquidate this obligation in full.
(5)—"Obligations—Regents Authorized." Payable from dormitory rentals, maturing in part on each May 1, 1949 through 1978.
The Regents by exercising the powers of a corporate entity issued the Dormitory Revenue Bonds for the benefit of the Georgia
aeftoot ot Technology. There is no specific act of the General Assembly authorizing the issuance of these bonds, tho action sub
iTwinToTxf ,he Gov8 At,orn G®" 1 ‘be Budget nor was
° rn ° r ; *y 9 ™ or Bureau of Georgia. See Auditor's notes in financial report
of 5ept. 30, 1946, for opinion . of . Attorney General as to the legal status of this obligation. Ruling was that this item not
oMigation of the State that it could not be retired from appropriated funds, being wa* an
tax or an obligation of and payable only from
Comparison Current
f Year Ended Year Ended Year Ended Year Ended Year Ended Year Ending
June 30, 1942 June 30, 1943 June 30,1944 June 30,1945 June 30,1946 June 30,1947
Receipts in State Treasury . . $58,893,568.09 $58,183,49613 S61.772,2ltt04 $63,193,875.80 $81,021,500.55 $98,663,506.?! ____
y # 9 * poge 6 for detail)
r A “r rfdottneriU
#trr*nt Operating Allotments...... .$41,017,766.25 $44,039,844.53 $46.421,66A0 353^74,816.38 $73,971,693.63 $88,946,370.IB
Debt Retirement Allotments....... . 8,321,890.93 15,784,968.34 10,514,482.61 5,110,000.00 4.223,791.01 525,000.00
Memorandum Allotments for Increased Aid ._ .00 _£0 4,348,000.00 4,549,332.79 (~)2,173,984.09 6,176,982.7*
Total Allotments....... $49,339,657.18 $59,824,812.87 $61,284,150.08 $63,034,149.17 $81,021,500.55 $95,648,252,9*
(See poge 7 for detail)
i ltc es s of Receipts Over Allotments .... . $ 9,553,910.91 .00 $ 488,059.96 $ 159,726.63 .00 $ 3,015,253.12
IlSMSS of Allotments Over Receipts .00 $ 1,641,316.04 .00 .00 .00 M
....
$58^568^9 J$58J83j496JB3 $61,772,210.04 $63,193,875.80 $98,663,506^1
0
Thie etetement of Georgia’s financial condition la published and paid for by the Executive Department ae a mattar ot public Informs*.
Men. It shows the balance sheet of our cute ae prepared by the State Auditor and released ae his official report on July U. fM2. TWO
(Stiblioaiion dosa not Include tho portion of the report showing detail of receipts and allotment* to agencies. A copy of tho full report It
gafcllo Information and avallabla In the office of the State Auditor.
-------------------------... _____.__________ M. E. JHQMPSON) Acting Geva rner
July Si, 1947.
Honorable James P. Davidson,
Cleveland, Georgia.
Dear Jim:
Your telegram duly and subsequent let¬
ter were received, and 1 have
urged Dr. Bennett to make his plans
to come to White County on the 22nd
for the clover festival. I hope he
will be able to make it, and I am
sure you will hear from him at an
early date.
I wish that I could be with you,
but I accepted an invitation some
time ago to go to Savannah on Au¬
gust 22, and I will have to miss the
clover festival, much to my regret.
I know you will have a fine meeting,
and I am glad that the prospects
seem so favorable for Dr. Bennett’s
acceptance.
With cordial personal regards and
every good wish, I am
Sincerely, 1
Dick Russell
The poultry business in North Geor¬
gia is now big business. However, it
is now finding itself confronted by
something alkin to gloom. It now
faces the problem of over-production.
A solution can be made if the Govern¬
ment will take poultry instead of
pork and beef for foreign relief. Too,
that will help to keep pork and beef
prices from going higher. The poul¬
try industry should continue to insist
that poultry supplant beef and pork
for foreign relief.
The Woodmen of the World
camps from the North Georgia area
enjoyed a fish fry at the community
house in Cornelia Thursday night,
July 24. About two hundred mem¬
bers present and every camp in this
area was represented.
State Head Consul, Irwin R. Kim
zey of Clarkesville was in charge of
the meeting.
■ Illlllllllil.llllllllll
Fresh Fruit Anytime
How can you have fresh fruits, vegetables and meats
of No. 1 quality during the coming winter months?
Frozen Foods is your answer. Economize! Let us pre¬
serve your foods by freezing. We have free literature
available for those who are interested. Visit us at your
earliest convenience and let us show you our Frozen
Food Locker Plant. You are never an interruption of
our work; you are the purpose of it. We are not doing
you a favor by serving you; you are doing us a favor
■i ** by you We allowing in CLEVELAND still your have Charles us preservation to a do few so. lockers Black, of FROZEN food. available, Operator FOODS so let us serve iiimaii
BEER WINE
We are constructing a modern tourist
court 1 mile north of Cleveland at Roy
Head bridge on the Neel Gap highway.
In temporary quarters we have a large as¬
sortment of Beer and Wine.
All standard beer 25 cents
We are here to help make Cleveland grow
Cleveland Tourist Court
ANNOUNCING
***
Our lovely swimming pool will open Sunday,’
August 3, at 12 noon.
Children 15c Adulls 25c
Cigars, Gandy; Cigarettes and Chewing Gnm
Good eats while you watch the mermaids
Come out and get your feet wet.
Mt. Yonali Tourist Court
1 mile North of Cleveland on Neel Gap highway
Princess Theater
Program Week ol Aug. 4
MON. TUBS.
‘.Fabulous Dorseys”
Tommy Dorsey Jimmy Dorsey
WED.
“Fun On A Weekend"
Eddie Bracken Pricilla Lane also
Serial
Thure.—Fri.
“Lady in The Lake”
Robert Montgomery
SAT.
“Home In Oklahoma”
Roy Rogers & Seiial
Showing Mon.-Fri.-7:r5-9:3®
Sat.— 3 : 45 - 5:30 7:00 9-30
WANT A REAL TREAT?
the “Beer
Drinker’s” Beer
STERLING BREWERS, INC.. Evansville, Iml.
We all deeply regret that Senator
Richard B. Russell cannot attend the
Ladino Clover Festival in Cleveland
August 22.