Show Belated Auditors Auditor's Report Shows Bankruptcy in City Treasury p Q With less than to begin tho the new nc vear with unpaid warranto warrants amounting to and unpaid claims amounting to Salt alt Lake City a as aa a corporation Is practically a n bankrupt The annual report of ot the tho city auditor which should o ha been made on tho the first Monday Mondo In February was presented to the elt city council last Jast nighta night night- a bulky cumbersome document which no one can cnn understand but which must un under or the law Jaw be bo printed in a n dally daily newspaper as os the actual statement of or tho the city's financial condition What It shows In essence is that the city Is burdened bur bur- with overdrafts o which since tho ond end of ot 1907 have o been Increased to S SA alarming proportions A comparative e st statement of oc the tho city's balance sheet for an and 1907 follows S i December December Assets S 5 31 HO 1907 n. n Cash In bank nn and on y 5 4 Uncollected t. taxes cs 1084 Uncollected water rates 9 4 J Total 3 This clearly shows that at the end of ot tho the second year ear of or American rule the city was in n greater cater poverty than at tho the en end of at the first through continued continued continued con con- reckless expenditures The liabilities at the end cud o ot of 1906 and 1907 aro compared as follows Liabilities 1907 1306 Warrants arrants unpaid OC Water Yater scrip certificates C I 19 1007 1907 claims unpaid unpaid-estimated unpaid estimated City's portion of or streets and sl sidewalks estimated 7 00 Revenue ne surplus i Total 3 The rile revenue re surplus at nt the lie end oC ot the lie two years ears according to the r re report re- re port Is as follows t I 1907 1906 C Contingent ant fund tun Irrigation and water supply fun fund Waterworks fund t- t Streets an and sidewalks fund S. S 70 ti Sewers Sowers and drains fund rund 9 Library fund fain Water bond Interest anti and sinking fund Sewer bond Interest and sinking sinking- fund fund H Dan Bond In Interest terest and sin sluIcing sinking fund fun 4 G. G G Surplus per books OO 4 De Deduct a adjustments r 1907 claims unpaid unpaid estimated estimated I 5 City's portion of or streets an and sidewalks C 6 00 5 S aG Surplus per balance sheet 0 10 I Overdrafts rafts S The Tho elt city again exceeded Its revenues with rIth the c expenditures of ot the year car carTho Tho following statement shows ShO that Revenues 1307 1 07 1906 Taxes e 02 1 Licenses S Water ater rates 1 OG Departmental tOol receipts H S I Expenditures I S 1907 1906 Departmental expenses 9 OG Interest on bonds City's portion of ot cost coat of special em Str Street et Lighting i n 66 General expenses Total 9 I Excess of or expenditures over revenues per books 91 3 The rest of the report Is Important in that It substantiates in detail what is here shown In the abstract |