Thursday, August 7, 1941 THE MURRAY EAGLE HURRAY CITY CORPORATION Financial Statement - -- MURRAY CITY POWER PLANT 1940 Financial Statement - Board of City Commissioners Honorable ii,.mor Utah Murray Gentlemen: w - audited fiii the accounts of Murray Citvv for the '"vui jrai , ouu icacm uewiui our report. 01, ending rjeccniDer -- v. ,nuntine records were found to be neatlv m weie properiy accounted otand m nrsi Lld in the record of cash collections. The detail verified were and (or w an ueiau accounts with con- collections were nui fVo Watprwnrlre accouina n iiuucuu unuwever, tests Tre made which clearly reflected that they were properly posted handled. The records of the City Court were checked in detail were Properly accounted for. jjd aU fi"es and orfeltures were checked with the original receipts collections The cemetery found to be in order. were and Sexton ftued by the were authorized by the City Commissioners AH disbursements invoices were found for all disbursements and vouchers and proptf the and receipted payrolls are on file for all labor except payrolls We ua- is-iu- uittu J h nrn-.rvw..- . preference to Exhibit "B" it will be noted that the balance of as at December 31, 1940 was $54,839.79. on hand and in banks belonged to the City General Fund, and 2 funds of the Electric Light Department. We are filing a report covering the operation of the Electric Light Plant sum $8,376.57 this $46,-i2- was karate - Idlivu? that all Deoartmonts rvnornttvi n;n wvv. uuiing LUC within the budget appropriations for the jdepartments. ha nntpd also ...in ti 11 Yi H year Sscai Also estimated receipts, and that the expenditure were $33,831.61 less Li the estimate. Thus the City ended the fiscal year with a balance the of funds on hand $54,839.79 AS S jll funds vvi icauiw - w.v.j ...... tiiuk, in uui upiuiuil, j all disbursements that were properly accounted for and authorized and expended. accounts were accurately and properly kept and that depreciation was taken during the fiscal year upon the fixed properly were 1940 We have audited the accounts of the Murray City Municipal Power Plant for the fiscal year ending December 31, 1940, and present herewith our report. By reference to Exhibit "A" it will be noted that the Power Plant had a total of $54,839.79 cash on hand in bank as at December 31, 1940. The cash was verified by actual count nd reconciliation up to the date that our audit was completed, and the bank and deposits Balances were verified with statements received from the First National Bank of Murray, Utah. The Power Plant is practically out of debt. It will be noted that there is only $16,000.00 in outstanding bonded indebtedness and that there is on hand in the Sinking Fund $6,122.40 for the redemption of the bonds as they mature. By reference to Exhibit "B" it will be noted that the net operating profit for the fiscal year, after charging off $21,216.59 for depreciation, was $31,787.30. Also by reference to Schedule "2" it will be noted that the Power Plant advanced to the City General Fund a total of $30,964.70, thus the City's increase in investment as a result of the year's operation was only $822.60. In Schedule "1" we present the valuations of the Fixed Assets of the Power Plant and the accumulated Depreciation Reserves which have been set up for each class of fixed assets. In our opinion, the depreciation reserves have been regularly set up with an adequate rate to cover the depreciation which has been sustained. Tests were made of the collections and other accounting records which convince us that all receipts were properly accounted for. The accounting records were found to be in excellent shape and the employees are to be congratulated upon the fine condition thereof. As a result of our audit we hereby certify that, in our opinion, the Balance Sheet reflects the condition of the Power Plant as at December 31, 1940, and that the Statement of Profit and Loss reflects the operating results for the fiscal year ending December 31, 1940. Respectfully submitted, WORSLEY & FORMAN By (Signed) R. G. WORSLEY. assets. Respectfully submitted, Exhibit "A" WORSLEY & FORMA N" By Signed) r. q. WORSLEY. MURRAY CITY MUNICIPAL POWER PLANT BALANCE SHEET As at December 31, 1940 Exhibit "A" CITY CORPORATION BALANCE SHEET As at December 31, 1940 MURRAY CURRENT ASSETS: Cash on Hand Bank Deposits General Fund Sinking Fund, P.W.A. Bonds ASSETS Cash on Hand Bank Deposits... Receivable Special Assessment Districts: Funds advanced by City Notes $ 38,800.64 53,686.28 9,597.58 4 246,802.03 60,499.08 26,675.47 17,487.20 1,200.00 ..... Land Buildings Equipment Waterworks Street Paving Parks Sewer System Street Lighting - ' $ 55,503.84 FIXED ASSETS: Plants, Buildings, Distribution System, etc. Schedule T... Less: Reserve for Depreciation.. 451.933.34 174,668.06 Total Fixed Assets PREPAID EXPENSES: Unexpired Insurance.. 277,265.28 597.10 Total Assets 454,748.28 $333,366.22 for Depreciation Reserve Net' 324,192.20 POWER PLANT: Murray City Equity LIABILITIES and NET WORTH 5,457.00 Meter Deposits 189.97 Accrued Bond Interest 249.42 Accrued Sales Tax Utah Accrued Sales Tax Federal... 130,556.08 Value of Fixed Assets MUNICIPAL 311,468.31 ' Total Assets LIABILITIES: Warrants Notes Bond 5.000.00 Waterworks No.2... Waterworks No. 3 ... 115,000.00 30,000.00 Paving No. 1 150,000.00 IN!a?e rf" Power and Light Less: Cash Discounts Allowed 495.113.64 Murray City $658,513.08 Liabilitcs and Net Worth ... hard-presse- d ... ... branches), Taylorsville, Union, and West Jordan. During the school year large collections of books are also loaned to 17 different schools throughout the county. Murray City maintainsn its own library and is, therefore, not a part of the county system. The new library will be open for service daily between 10 a.m. and 9 p.m. closed Sundays and holidays. The building, designed by Ashton and Evans, Architects, and constructed as a W.P.A. project, sponsored by the Salt Lake County Library board, cost approximately $70,000.00, $45,000.00 places. Judging by their accents, of this amount being supplied were In differenj foreign lands, hotfrom the library budgets of 1940-4ly arguing over happenings overIt houses a large adult readA seas youngster ing room ; an attractive children's Jumping into the street to pick up a room with interestinng features, dime gleaming amid gutter slime. such as a fire place and a large bay window upholstered seat; a small committee room for board in Crotona baseball Boys playing meetings; librarian's office ; and park away up in the Bronx . . . a large work and stack room. The Hank Greenberg, when he was at structure is entirely fire proof home, used to join In the games ' and has such modern features as . . . But he's In the army now . . . A woman standing Just Inside a a complete air conditioning plant, fire proof vault, electric book lift, butcher shop making an inspection of a live chicken by blowing its and large cemented parking area. feathers . . . Children laughing as The library system is under in a they go the supervision of the following which is hand operated . . . board of directors: Commissioner and the crank turner grinning . Gwynne Page, president; Dr. Quiet side streets with green trees -- .jCalvin S. Smith, secretary; Mrs. If there weren't so many apartAlfred G. Gunn: Dr. C N. Jen-- 2 ments, those thoroughfares would sen and Mayor C. J. Welch, with seem more like a village than a city Ruth iVne Tyler as librarian. . . . The white cottage on Grand board members also re- Previous Concourse where Edgar Allan Poe sponsible for the new building once lived . . . and In which the former Commissioner J. R. "gentle Virginia's high born kins and former Mayor J. men" came for her . . . But In .Rawlins Hollis of Midvale. Aylett those days, the little home stood i -- In the past two years 40.500 across the street lew books have been purchased and added to the new library. Harlem River speedway where In - With a possible maximum the old days the bloods of the town. .- revenue of one mill, the system the Vanderbilts and others, raced has operated on a levy of three-tentBut which now their horses of one mill for 1939, seven-tentIs a handy place for Giants fans to for 1940 and A tug park their motor cars for 1941. A roving soda fountain, gay with colored bottles, drawn by a white pony . . . and kids with coins coming on the run . . . Most flavors are three cents . . . and an ice cream cone can be had for a couple of pennies . . . Women fanning themselves as they trudge the street with heavy market baskets an old. old woman shakily making her way with a cane but stopping to look at the display In the A window of a millinery shop fat man, looking as if he were about to melt though his costume seems to consist only of shirt and trousers . . . Two ancients, whose birth 1. pop-eye- d MURRAY CITY CORPORATION OF APPROPRIATIONS AND BUDGET ACCOl NTS For the Fiscal Year Ending December 31. WO Account .Revenue Realised B,a"f" Funds on Hand 1940 1. .... .... xci Vehicle Jndr'oi Registrations Jwtric Light Dopartmcnt VJ Avenue RweipU: Scial AwssmcnU.... 43.000.00 6.000.00 20.800.00 7.500.00 1.500.00 733.00 44.141 23 3.500.00 200.00 82,000.00 4.303.5" ClJrtmrnt 'u .... 6.540.00 2.500.00 7.520 00 4.500.00 3,500.00 fc5 2.3rooo OfTtcials vrK''y Maintenance P 'LVtMrtment ............. PtrncnT::::;;; Bridgci.:::: CLL!?hUnK Bg Ir!? ill,-.--..- - ....... - rcsi. ..;z:;;;;:;z; Maintenance Cfe.Pm sCV'Trncd Addition! ... T,""l' Hydro-Electri- 16.72 6,572.41 - 10,282.48 Diesel Unit: c 1.M..8 632.00 1,83. .08 3.9.20 1.012 84 2.51284 777.00 12M 96.190.51 ' 8M.56 17.16 , ... six-tent- churning up the murky waters of the Harlem river . . . Sand and gravel being scooped from huge, unand geraniums wieldy barges growing on the windows of the little cabin, far aft. where a barge captain and his family have their home . . . Must be plessant to glide along inland waterways all summer , . . But loading and unloading, especially when the cargo Is coal. Is something else again . . . Still I envy the barge kids . . . They can go swimming or fishing any time the urge strikes them. ... 248M 6.540 00 7.11.131 4.0M.76 2.302.41 .80.25 5 5.9!'0 84 JJ 3.3fi4fi 7.200,00 7.20,100 lbor Miscelhn.uus ll& 2200000 5.200 00 15.000.00 .' 805.W1.58 ) 54.831.79 " Lines... L'""- J'"H2 Supples Expenses IB1I SyndleaU - SlMnd 31115 OiioZ IF.ts lntorest- -1' WA. Bonds Damage Claims , Xa'nt' 1 252.74 Total NET OPERATING ""3a " In the LANSING. MICH.-now threatens the supply of Macaca Rhesus, a monkey used In testing serums for Infantile paralWar JSJ 59'106'78 31'317'59 PROFIT THE TERIOD NET TROFIT FOR j6205 8350 ; 224;16 I've Just Been to CENTRAL BARBER SHOP Where They're Always at Your Service . . FRANK CHET and MILT Keep Your Roof in Good Condition! I Far East Costs OTHER INCOME: Wiring Permits Wiring Licenses Miscellaneous Kenu trvlc Cut Down Monkey Supply 16,124.70 Op-ratin- WNU War in Far East Will 765 44 1.365 40 150.57 700 00 Truck Meter RcadinU and Collecting 30 8.57063 2.100.00 .ee Nuf Sed! In a night spot a group wss talkhis ing about a fellow known for . . . habits chiseling conniving, "The government could use a guy like him right now." averred Ted Stractcr . . . "Where would he fit In?" queried another musician . . . "Metals are needed," responded Straeter, "and he's all brass." 484.91 iStS - nd.nt lntercst-M- H-r ,8'!,aw 1,415.25 166.41 General Enpenses: OfTice 15.01)0 00 !. Expenses Transformer Operation Testing MetersDistribution Maintenance Ix-ga- l 73.263.64 76,720 00 J01.30 ent Transmission and Distribution: Salaries-OJT- - 1.78727 R.200.00 10 3.10 Building SiSTf""' 3.228.14 3.4 53.17 391 J4 522 . 8 6.932 25 12l2 lubricants Maintenance-Equipm- JJJ 2.33.. 30 t,m.n llrlin tors Fuel O.I Supplies Depreciation Expend MM lnprnded 5.400.00 1.800.00 3.800 00 400.00 550 00 1,543.73 Murray Diesel Plant: Maintenance $21.008.18 The double decked bridge over the Spuyten Duyvil, a connecting link between New York and Westchester used by many motorists . . . Cops standing beside booths with their hands out for dimes . . . and they usually say "thank you" when the toll is paid . . . Taxi drivers might get some lessons from them . . . Inwood park where more than 300 years ago, Hendrik Hudson powwowed with the Indians . . . George Washington bridge looking slim and graceful as it spans the broad, placid river . . . apartment houses on cliffs high above Riverside drive. 2.302-8- ::::: ipiatK.n Salaries-Opera- H.190.51 3,243 29 .oi.oo Maintenance of Equipment... Fuel 0.1 Supplies Sal3ry-5.ip--nnte- I ni .",0US inu Total 22.G37.fi8 7.120 80 400.00 - UUVf Sr?- !- iD $205,601.50 $226,609.68 SOPRATONS: Appropriated inunce and OperaUon: ?nd 5.3(18 3.000.00 Totals ?S - hs hs Salaries-Opera- tors Jterworka Collection Licenses J nd Forfeitures f f 2.519 63 30.5aG.13 $ 37.066.50 T"iue Rfrelpls: neral Taxes Cfmetery Collortbn Hydro-Electri- Depreciation Revenues Revenues Inrealized Excess EVENTE ACCOUNTS: $90,424.37 OPERATING EXPENSES: c Plant: - $3,032.01 Salaries Operators 374,8 Supplies 6.79 Maintenance Buildings 213.06 Maintenance Dam 66.51 Maintenance Electric Equipment Maintenance-Ro- ads merry-go-rou- ... $97,596 89 7,172.52 Net Power and Light Sales.... STATEMENT January $333,366.22 163.399.44 Exhibit "B" ance 311,468.31 Exhibit "B" Total Liabilities Total 16,000.00 MURRAY CITY MUNICIPAL POWER PLANT STATEMENT OF PROFIT AND LOSS For the Fiscal Year Ending December 31, 1940 WORTH: Equity 5,897.91 Total Liabilities and Net Worth 10.986.40 2,413.04 Outstanding .! Payable Issues: Refunding Refunding Refunding Net ... ... Total Current Liabilities.. BONDED INDEBTEDNESS: P.W.A. Revenue Bonds NET WORTH: Net Equity of Murray City $658,513.08 LIABILITIES and NET WORTH NTT one-piec- round-and-roun- d Less: Net and meditations: Meandering Tenement youngsters lying on tha street under sprinklers and going through the motions of swimming e . . . Their bathing suits overalls and their beach a gutter . . . Tenement mothers, their stomachs protected by cushions, leaning out of windows keeping track of offspring and watching what's going on A scissors grinder In the block setting down his heavy machine and central building at 80 East Censtopping to mop his dripping face ter street, Midvale, which will A little mother serve as the county headquarters busily trying to keep her two and a library for Midvale, has charges from toddling out Into the 19 branches open to the general street and under the wheels of motor afternoon and evenings in public A woman shaking a trucks the following locations: dust mop so that the dirt falls on Bacchus, Bingham, Copperfield, the head of a woman in the window Copperton, Draper, East Mill below . . . Evidently a feud of some Creek, Garfield, r, Granger, Herri-rma- n, to kind with the advantage going the Holladay, Magna, Mill An dweller on the upper floor (2 old pretzel vender eating one of his 'Creek, Riverton, Sandy branches), South Salt Lake (2 wares. ... 4,514.96 Total Current Assets $ 22,852.57 ASSETS: FIXED 4,525.66 11,392.71 Inventories Current Assets Total - $ 15,918.37- 2,651.74 By L. L. STEVENSON ... 458.98 $ 39.648.02 6,122.40 233.82 ... Special Deposit Consumers Accounts Receivable JLess: Reserve for Bad Debts 397.44 18,965.53 837.86 The board of directors announce a formal opening of the new Salt Lake County Library building will be held Saturday, August 9, between 4 and 10 p.m. for adults only. Music and refreshments will be offered. Open house for children will be held the following Monday, August 11, 12 to 5 p.m. The first library board was appointed by the county commissioners, April,. 1938. Library service was begun in April of 1939. Since then 695,000 books have been loaned throughout the county, and 16,700 patrons have been registered as borrowers. The system, besides the new ... ASSETS ASSETS: CURRENT Couniy Library To Open August 9 The Honorable Board of City Commissioners Murray City Corporation Murray, Utah Gentlemen: That the jdequate New Salt Lake 4C971 $31,787.30 ysis and pneumonia. Dr. C C. Young, Michigan health laboratory director, says that extension of hostilities In the East may of the prevent further shipments rhesus considered superior to the aniguinea pig as an experimental America. to mal Your roofing is one of the most important parts of your home. Be sure to keep it in good repair at all times. Ask us for a free estimate on new roofing! Utah Richardson Roofing Co. Id South Phone Authorized Application Agents Office 145 Went of RICHARDSON ROOFING PRODUCTS W. W. WILLF.Y, Mgr. rhone