OCR Text |
Show City Expends Over Forty Thousand In Year Indebtedness Totals $179,950 Reduced Slightly From Year Previous. American Fork city expended a total of $41,601.84 during 1934 according ac-cording to the financial report issued by Recorder T. A, Barratt which is found in its completeness in this paper. Receipts for the year totaled $43,968.76 which together with the cash balance from 1933 brought the receipts for the year to $45,572.90. The greater amount of revenue came from three principal sources general taxes $17,540.80, water rates $9,813.52 and temporary loans $4,700.-1 00. Licenses netted $1,535 and the cemetery $1,655.65. Expenditures were generally distributed dis-tributed with bonds and interest being be-ing the largest item. This amount reached $10,122.00 for the year. Repayment Re-payment of current borrowed money totaled $5,100 and interest $2,782.28. Other large items were police, $3,-512.60; $3,-512.60; library $1,200; electric lights $3,559.92; salaries $1,610; water works $3,942.18; streets $1,476.86 and fire department $1,138.93. Indebtedness of the city totaling $179,950 is comprised of $148,000 water works bonds and $29,923.90, floating indebtedness. This has been slightly reduced from last year, both bonds and floating debt having been reduced. A study of the report under capital capi-tal accounts shows the worth of the city, all property being listed at a nominal figure. This list shows the total worth to be $239,037.31 with total indebtedness of $148,000. Under Und-er the heading Current Accounts monies due from tax accounts and other sources less uncollectibles reaches the sum of $38,148.54 with total Liabilities of $31,950.15 leaving a current surplus of $6,198.54. |