OCR Text |
Show BrWw - City Finances In Very Fine Condition knnual Report Shows Total Surplus $105,350.25 Over Obligations Bonded Bond-ed Debt Nearly Cleared up. American Fork city's financial con-ition con-ition is very good as the annual re-ort re-ort as published on page seven of his issue by Recorder Thomas A. iarratt will show. A total surplus ZSi r worth of city property over all abilities is $105,350.25. The report gives receipts and dis-ursements dis-ursements for the year 1928, current cur-rent assets and liabilities together Hth estimated worth o the city property and total indebtedness. ,' The receipts total $42,404.50 the varans var-ans items of revenue being listed. Vater rates and taxes are the largest lenis in the list except loans which 1 re necessary to operate the city -cairs during the year until the tax - ,-ifmounts come in. """I The total disbursements were $41,-r88.38, $41,-r88.38, which together with cash on and brings the total to the $42,404.50 jjr the same as the receipts. The iolumn of expenditures include all loney spent the larger Items of which Ere waterworks, loans liquidated or epaid, streets, police department and aectrie lights. At the close of the year consider-Ible consider-Ible money was owing to the city as lie current asset account will show total of $19,422.59 was due from ixes, $3,440.03 in meter accounts and 3 1,590.77 for meter installation. Pav-ig Pav-ig districts owed considerable bring-ig bring-ig the total to $35,917.86. Against lis the city owed $22,235.75 in notes igether with current bills making a )tal of $27,453.26. - The city bonded debt is fast being Lken care of only $10,000 of bonds dw outstanding with $3,685.55 sink-ig sink-ig fund to meet these. 5 The city's financial tpolicy for the ast few years of paying as we go and :tiring the indebtedness as rapidly 3 possible is getting desired results nd placing the city on a cash basis Inch few communities of the state in boast. Our present and former t fficers are to be highly commended r their splendid work along this ne. o |