OCR Text |
Show Little Chats on Public Notice Spread across most of an inside in-side page of a newspaper in an advertisment measuring about 12 by 14 ' inches was a detailed financial report. It was the "State of Maine Condensed Summary of Financial Statements" as of June 30 for that year. Under the signature sign-ature of the state controller, it was a detailed presentation of the two main aspects of the state finances: comparative statement of operations and a balance sheet. The comparative statement was for two years, the current year and the preceding one. It gave a detailed accounting of the revenues, rev-enues, expenditures, and "other amounts available," for the general gen-eral fund, the highway fund and other special revenue funds. It then gave the consolidated totals. The balance shet was similar e'xeept that there were twice as many headings. In the vertical column the chief items were rc-ognied rc-ognied assets, liabilities, and reserves re-serves and surplus. Horizontally the funds were divided, under eight subheads, into "operating" and "other" funds. Such fininclal reports are fairly fair-ly common also for local governments, govern-ments, school districts, and other agencies. The one In question illustrated two Important points. One, It was required by state law and, two, it was published in a bona fide newspaper. This is all part of the fundamental process of Insuring the public's right to know. In this process the newspaper news-paper everywhere plays a vital role. i |