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Show City, Utah, Thursday, September 20, 1945 , The steam power unit construction revenue bonds outstanding December 31. 1944, totalled $146,000.00, and mature as follows: October 1, 1945 5 19,000.00 October 1, 1946 20,000.00 October' 1, 1947 20.000.00 October 1, 1948 20,000.00 October 1, 1949 21,000.00 October 1, 1950 23,000.00 October 1, 1951 23,000.00 portion of , fines aand for. County s u.. w Murray ";, j 11 :.,,.-ai- : . $2,387.19 - 82,150.41 1,461.92 1,472.25 pines Forfeiture Fees 5,084.58 utoellaneous collections: not tried at December s bonds--ca- st Bail The Murray Eagle -- V 1944 ases Bail bonds-c- 31, - : Small $146,000.00 1,000.00 186 92 37 90 dismissed Claims Court cases The above bonds are in the possession of Murray City and were examined by us. All interest coupons which had not matured were attached to the bonds and all matured coupons have been clipped, paid, and cancelled. 1,224.82 NET WORTH EQUITY OF MURRAY CITY $396,479.06: The ownership equity of Murray City represents the operating profits from the plant which have been applied to plant expansion; however, the City's equity in the power system has been decreased by substantial advances made to the City's general fund fur a number of years. The net profit for 1944 was $35,039.95, and during the year, advances aggregating $16,453.26, were made to the City's general fund, the net increase in the City's equity being $18,586.69. 58,696.59 nlSBlRSE-MF:NTS- : . , Lake County s portion of fines 'and Salt feitures Murray Citv's fees for- 2,387.19 portion of fines, forfeitures, and 5,084.58 186 92 bail bonds, etc Refunds of COMMENTS 7,658.69 ON DEPOSIT IN FIRST WCE-FCStIONAL BANK OF MURRAY, UTAH NDS FUNDS OF iviTYSIS ON HAND $1,037.90 AT DE CEMBER 31. 1914: Dahnken Cates F. C. $ George 500.00 500.00 I Claims Court Small Remington Arms impounded garnishment pany, $1,000.00 Com- INCOME RESPECTING The amount of net profit and the factors entering into the determination thereof are presented in exhibit R. In our opinion, subject to the exception stated before herein relating to the limitations of the scope of our examination, the accompanying balance sheet and statement of income present fairly the position of the Municipal' Power Plant of Murray City at December 31, 1944, and the results of operations for the year ended that date, in conformity with generally accepted accounting principles applied on a basis consistent with that of prior years. Yours very truly, (Signed) LINCOLN G. KELLY & COMPANY. Exhibit A 37.90 MURRAY CITY MUNICIPAL POWER PLANT Balance Sheet at December 31, 1914 ASSETS CURRENT ASSETS: 246.44 Cash on hand $ Cash in bank general fund 43,278.51 $1,037.90 TOTAL Murray City Municipal Power Plant Report Construction fund steam plant Construction fund special Sinking fund for Public Works Administration revenue bonds: Cash on deposit $ Investment in United States MURRAY CITY MUNICIPAL POWER PLANT audit of records and accounts, including balance sheet at December 31, 1944, statement of income for the year then bonds 566.29 233.82 2,020.19 5,000.00 Repcrt on The Honorable Board of Murray City Corporation Murray. Utah 7,020.19 schedules. and supplementary ended, City Commissioners Accrued interest power plant revenue ' bonds Accrued interest United States Government bonds Accounts receivable consumers .. $15,090.67 Less: Reserve for uncollectible accounts 1,509.07 18, 1945 August Gentlemen: have examined 1,095.00 597.35 the bnlance sheet of the Murray City Power .Plant as of December 31, 1944, and the related statement of income for the fiscal year ended that date, have Inventories fuel oil, etc reviewed the system of internal control and the accounting procedures and, without making a detailed audit of the transactions, Total current assets have examined or tested the accounting records and other supINVESTMENTS: porting evidence by methods and to the extent we deemed appropMurray Jity Municipal Power Plant reveriate, except as stated in the following paragraph. nue bonds Autditing tests and checks of accounts and records concerning United States Government bonds accounts receivable and inventories have been made, but according to the limitations of the scope of our examination, we have not Total investments applied the generally accepted auditing procedures of direct comASSETS: FIXED munication with debtors or attendance at the physical count of Plant inventories; nor have physical tests of inventories been made Murray Diesel unit under our observation. Granite Diesel unit COMMENTS RESPECTING FINANCIAL POSITION Utah Power and Light connection The financial position of the Power Plant is presented in detail Murray steam plant in Exhibit A. Explanatory comments pertaining to the various Transmission and distribution system balance sheet items are presented as follows: : Other fixed assets CASH ON HAND-S21- 6.il: The cash on hand at the date of our examination, August 3, 1945, was verified by actual count and was reconciled with the Less: Reserves for depreciation cash balance at December 31, 1944, by a comprehensive test check of interim cash transactions. We did not make a complete Net depreciated value of fixed assets audit of all cash transactions during the period, but we did make exhaustive tests of the cash transactions and found no irregularities PREPAID EXPENSES: or discrepancies. Total cash receipts and disbursements as shown Unexpired insurance by the cash books were reconciled with the bank statements. We 13,581.60 4,479.37 Municipal 146,000.00 114,000.00 145,550.25 122.319.58 30.974.68 7,806.91 1,669.74 163,160.14 15.580.26 Hydro-Electri- c 487.061.56 259.073.81 . DFPOSITS SI6.098.81: On December 31. 1944. the Municipal Power riant had deposits the Fint National Bank of Murary, Utah, as follows: S43.278.51 General fund checking account 56629 Construction fund steam plant 233.82 Construction fund special Sinking fund Public Works Administration reve2.020.19 nue bonds BANK in in United the year States securities. The net increase in the fund during was $20.19. ACCRUED INTEREST maV-rinls- issued Citv v Murray City Municipal Power Plant steam power unit construction revenue bonds 127,000.00 135.500 00 run-'ruct;- - 1 .33: cotM'M-hcnsiv- u.-ee- - - I I alis-,b- - . a- ! lesp-nsi- ,xVlSlMETS s S2r.n.(l(l0.00; $HU'Hn on Mmr.v. Citv Municipal t M.it 4.""" (l" lni1 iat-- I pt (or ppi-bond which were vueb..sed with fund . Mr.-m!!:i.t, on of unit of the p.,-- t ystcn Tl.- ."ecunlff. v durum mil exammatio. ..j the account. .uf;ed by imiM-ctio2T.'R7.:.'. VAI.M: BOOK NET Assets nM of .'.citli ' m. 'no ai.r( fv.vl ,t,j, Tb fifil .... .. it t "tc . i V,' I ' ...t i I., -inr . ' l 4. i' i,., n I'd I, ' lor dej.Hciation at the s.mo da'r was $. 1.07.1 L leavingnet bont valuation .f J2:.!'i'iT.7.'i. In our "pmi" adeijti;ite proen fc,r has bun made i.iili vial 1, " investments consist rr,'i levuiue bonds and 1'I.mt u. 1 i I 1 '!. Gov.-rn-"'n- 1 tf" 4 diptecialion CRl:.T 1ABII ITILS s:7.7rto.7f.: nrcni.d- i r, .ite,.,.lu ii. :,rii . t me i on.i n ii .. - i ' ii ' ,liti,n..1 ! ' '" ei'J It'll nul the ibties r .l liil.ii i elltt' l,:.t.. l,..,ifi( PUS. mature H';eh duiinc B,,x-'lJMS.r.OO 00: t INDEBTt. UNESS . M 1 1 RING AI1I U PI 1- i. ... i . a I Vow ( il., rM,.' .i i i . rt ".jr.irit i i"' r ii iioniiril i mi i ii Hi i vii. i't lle,rfri1rr 31, i;m 1. was $1 W inn on Of U ami nint. I or.d' ?2't.5ou (M. wbuli matu-duimi PUS. Wife , ttation rrvetiiii c Wotks Pi.l ut.j-iThe liabilities p'1 on Oreendu r .11. PU1. mvmf d 1.. SJO.fiO't ("IS '0 rirnias f.low cent inter st. and V u Miii . n r,,i,i mi oi h i. . r 1. P'5'" i i.iit n.. in 11,1,1... ' i i I i i. fc.' I. i.'I.J. t.'l c was STj 2 23M.kmg fund as at LVcin;b..r 31, 1 v . i .,... ' j.t-,,- . Fu. R.7:u 7 il . I Oj'lat.ng JUpplir 1.532 Lwbiirar.U Maintenance of InuUme Mait.lrfjatire of rqpiipffiitd S,.Lit irf. -- Kuai j I). pi ei.itmn of Wal. fi tl 11 '.'2 3 a ;m Is ; 1 6.070 300 ' D . u plant: 1.7'" S.ila! )i S and f.tee Kii.l oil C m; plie? O; W j l' i i" .?n 2.r.ii) ni 144 f I.ulraantR Mair.lt natire 1 rq;a;p?i- nl 'i (,f fixed aM t M4 f 2 1.54S.T2 A'lmi-'.5landi- t It 1 M I ! i ,') M. 1 7.146 78 I'm. r lVet I unbas' d: pi' nation ( w!k Touch-U- t. 312 27 ".009.91 (CONTINUED IV p Z VI Reg. 59c Firestone POLONIUM U A SPARK PLUGS with Itjl r UC Ww your P'u9 !a of ttt mor Here's a once In-value no motorist will want to ruLssI Ouaranteed to give quicker, easier starts or your money back! blue-moo- a I J 75 AMm . H Vw. Kaj Olass cotered. Beautiful stain resistant walnut fla-- KJ i neavy, strong W Yale or Chicago V,,,,. J A sj practically Wintr Tirtttont DELUXE HUi pllfi. UA 1 Reg. 2.4? I -- 'nvi'Miii., l1' ! m ' ' ' 2.09 o,. wasnablet Dries oternlKt.t! Oites soft, tettety Wii-- VI tnlsh. 3S ton, rf 73 'A VA I ON PAGE ?) H 4 1 1 G.L tCTD I nandtent thing I Toutverownedr spots 'A XZZSSJ Bmos from clothing, yA ' MrA Heg. TO' njuuunw . TTZT a.s.M panri', WALL- tV i DRY CLEAHER WALL PAIHT Washing nvahmes at Gamble's store, Sound- - like piewar days. Daylight favirg litre is to go out S ptnnber 3't. we hoar This will be riicr a it b d.uk fio V s whn you go to work. This son movnih rvi n n sun time. U l- I mm ffi r.,i ... V A yS Carter's onlavtra at Fraternal ball every Saturday rvthing, beginning S pt n.ber 2'b Mr. and Mr-.- Poiare Green of the South Sail Lake Ibiall are on a vaeation trip ti New Y tk City and upai ea t. tn points. We wish then a f.n- trip arid a safe return. Mr. Green' brother from bgan will bo in charge of the lb raid while the Clr,-- ate away. alr.v' CJPkta i:ia. Dcaotlful 'J"U'y. ruth-lonlD- apace and the weeds will have to lMk out for Jack Frost. Nature to the res cue, as it wtic. Watch for the danre news and K7 O1AMPI0N TIRES Blrnnrrr, wfw than r bfur . . . uw, Improrrd BuTU Lork Cud. ferTiir comes News from the packing plant is that Mr. Dianey has some six thousand boxes of tomatoi s coming to the plant fome days. This is a lot of ton, itoi s and tlu y w ill not wail for anything Trust a tomato to up and spoil if you make it wait too long. jVA psi-p.ii,m- r'r. in gorO-i- , om r MnT OlnS. 4 1; I H --- -- b 8T, time and kcf Jj'y Work. PP7 I I 6d U b. farnacc in the A r than no finnan- at a'l furnace that email"! is bitter. A -l THOS. B. MEFF - i'- - fixed M wfj bap-len- s- ft,1-.lfii- d sT7 , ( 23.fi.16 10 Granite lpfefcy 9 ea. Cleaner, Black Enamel, Black Tire Paint, Cleaner and PollHl1 Radiator Solder, Liquid Cleanor, Pre-WaTop DressinK. - k :u 21.1 1 i ... ;'' Obnoxious Drew Pearson is making suggestions to congress to the president, to the English government and cverylMKly id e. They are lucky in that they probably do not know of said Drew. He is one person with i II the nerve he can handle, or at least that is one view of his ftulT. s ! I " Radiator Cleaner, y r 8.500 00 4', lv i values on? M - ojx-rato- - V'&A J P HOSTESS TRAY Murray friend savs t'" screech from Brother Jeweler who talks through the Tribune each Sunday was no doubt written while said brother was contemplating his income tax payment. Yell all you like, sir, it will do no damage as t hetreasury will receive the check as usual. Telephone service is upon the revenue improve, according to one nf our 19,000.00 spies. Waiting at the phone for to answer the central Total current liabilities $ 27,790.76 after you take thw receiver down MATURING AFTER 1945: is growing shorter. Well, it is BONDED INDEBTEDNESS Public Works Administration Murray City peace, as th y always say after war. Municipal Power Plant revenue bonds . ii- -g GLEAN-U- 1,500.00 cn-s'rurtio- ", B0M)S-s.:,97- m revenue in $200 000 00 ' f Total bonded indebtedness Municipal NET WORTH EQUITY OF MURRAY CITY: Power Plant revenue bunds, the thereof to be used to Net equity of Murrav City at January 1, construct a Meant unit of the power plant system. Pnorities coveri377.892 37 1944 and equipment could nt be secured ng construction. Add: Net operating profit for 1914 35,039.95 and the bonds v rp i.iti r by the City. The bunds were 412.932 32 M cancelled but are lteing he'd fur resale if and when the is authorized. The i.f the steam unit of Deduct: Cash advanced to Murray City pwer system date the maturing tnd niMuic serially and at each maturity 16,453 26 !( neral fund bends ,. let: rid anil cancelled and an amount equal thereto is d'li'Mted in the construct! m fond. With the exception of S.Wi.M, Net equity of Murrav City at Decemwhich i en 396 479 06 in the First National Bank of Murrav. Ut.ih, ber 31, 1944 ..... deposit then1 amounts, together with other funds appropi laled forStates of the new t'l.tnl, have- Ucn invested in United $559,769 82 Government bunds, MURRAY CITY MUNICIPAL POWIR PLANT AC R 1, INTI KEST-UN- ITI I) STATES GOVERNMENT Statement f Incomr for the Fiscal Yrar Ended Drcrmlxr 31, 1911 As of December 31. 1PH. t! power pi; n1 d partment had a INCOME: $130.47025 Sale of (leetnral enercy K.l e! $119,000 00 invested in 1'nst.d States G.v.rnnnnt bonds, JO.B90.17 the accm.xi De iurt Cash discounts allowed interest thereon at December 31. 1344. bring $.V.7.3.V 119.580 08 sales of N.t chctriral mercy ACCOUNTS KE( LIVABLE SI.I.OVn.G: CONSUMERS 'est Oi l RATING EXPENSES: The lcd'!u was examined and on I! v. it. e 1.1. ctric Plant: ef the poMings t'miein. The amount outsta;i 5.fiM IS the ..reoiir.ts bi!e- i S.(.,nes and wa.-3:. i:m. repiesenlrd. in iv.ost ri'i accounts 3 1,1 Mr ti e n nnth of lVr n V i .ilit R fupphes r. Th- - n sei ve for unro. 27 17 of Iosm s w! n h tray In- Mis . in our Maitienanee liui'dihc to the covrr opinion, adequate to.ni.i M.utdenani e of d.ms and water liquidating the account.. 9.' w.,v. DVI YioUlES II I L on.. ETC. M.179.3:: Maii.ti natier of equipment P)2M luliiand oil Ti f fu Dies. inventories pun. inly . I 6.f15 2) reflation of fixed a .m tt l.r.e materials such as ne. ri ossat ms. p"h !ii tef". t! PHI. 31. of rn,i-I) etc. The physnal iruntoiies $13,060.00 ' r' tken under nteieient and supetuMon of the riant sui Mumy Die.Ml Plant: i f'l't.f.. thncfor. y the employee 7.K72 79 Salat i' and wajj'-Mu-r- 1941, for food. x A J1.095.OO; During Utah turkey crop for 1945 is estimated at a little under two million birds. This is quite a lot of turkeys, but try and get one Includes. Paste Anto ,'7& $559,709.82 strenuous BONDS PLANT REVENUE rOYVI.R you may have a light to do so. CAR V j 1,095.00 Administration bonds, maturing during 1945 Steam power plant construction bonds, maturing during 1945 Works Public antiaircraft searchlights for sale. If you wish to watch for aircraft LAST THREE DAYS d ihmmvh VJi 683.50 A business chance for some- one. U. S. government has some mm rt sLo3y Sometimes the human reaches the end of the last straw or the end of a period of taking it, as the saying goes. The idea that starts this thought is one of those envelopes from an insurance company. This envelope is intended to transport, a small offering or payment to the coffer. of the insurance company. Tlv II would be grand, but when examined closely to the eye comes the ykk slogan in the corner of the ad AM dressed envelope, "Place stamp here." This conies under the 7 heading of too much and too often. If the insurance company does not have enough confidence in the knowledge and genera1 I. Q. of their clients that wou1 $ 71.098.57 enable said clients to stamp an envelope, wihy expect the dumb client to have money to send to them? Even if the word "Here" was omitted it.would not be' so bad. If it said "Stamp," then you 260,000.00 might think they were just being cute. But to say "Here and Stamp," it is maddening, but then you say this is a small thing. Sure, but then the small things are the most difficult to bear because while they are small there is a very big lot of those small things. This Kiipe probably comes under the heading of one of those small things But, anyway, those envtdopes are 227,987.75 too much and too boring o something. s The above deposits were verified by examination of the bank statements and by direct communication with the depository. INVESTMENT OF PUBI.TC WORKS ADMINISTRATION REVENUE BONDS SINKING FUND S3.000.00: During 1943, $5.000.0r w; withdrawn from the above sinking fund and invested in United Stales bunds. The bonds were examined by us at the First National B.mk of Murray. Utah. The City made deposits in the sinking fund during 1944, sufficient to meet the maturing bonds and the interest installments. The fund was also increased by the interest which accrued upon the investment nect the heating equipment. Do1 not be late, Janies, please. Cold weather and hot fires rather go together. Be careful to not overheat the old heater until you see if it will not set fire to the house. Be careful about fires Comes the news from Ogden and save yourself money unless! of the arrival there of a puppy you enjoy going to fires. with an extra hind leg or a total of five legs. When news of this nature is spread before the breathless public as a matter of vital import, you can be serene in your mental works. Why, you say? Because it indicates the sparseness of news of murder, Hi. arson and sudden death. If and when you read of freaks, sea serpents and animals with deformities, you can be certain that the newspapers are in the midst of a very dull season when nothing of a powreful or excitWi y. ing nature has happened. Pity the poor news men, Six or seven or ten years of big news. Remember the NTtA? Hitler? Mussolini? War and carnage supreme. Now we are back to the pup. What a fall is there, my friends. . . . five-legge- LIAHILITIES AND NET WORTH CURRENT LIABILITIES: $ 5.783.50 Consumers' meter deposits 312.26 Accrued sales taxes State of Utah Accrued interest Public Works Adminis100.00 tration, revenue bonds Accrued interest Murray Citv Municipal Power Plant, steam power plant revenue-bond- S46.098.81 Page 5 James Mollis thi- pliimbfr, is momentarily la) id for 1o con- - Home and Aulo Supply Slore 4745 So. Sfafo Phono Murray 390 |