1951CITY OF BANGOR
MAINE
ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED DEC. 319 1951
INDEX
Capital Funds
Balance Sheet
11
Combined Fund
Balance Sheet,•Liabilities
9
Combined Fund
Balance Sheet, Resources
8
Estimated.and
Actual Revenues
2
Future Budget
Debt Service on Present Debt
12
General Fund,
Analysis of Unappropriated Surplus
4
General Fund,
Appropriation, Expenditures and Unexpended Balances
3
General Fund
Balance Sheet
1
Genera -1, Fund,•
Cash Re'c'e'ip'ts and Disbursements
S
Net Debt Ratio
to Asses'smen,ts. and, -Net Debt per Capita.
12
Statement of
Debt Limit and Borrowing Capacity
12
Statement of
Municipal Property
7
Statement of
Overlayings
6
Statement of
Tax Deeds
6
Statement of
Trust and Agency Funds
10
Tax Collection,During Year of Levy
6
GENERAL FUND BALANCE SHEET
CITY-OF.BANGOR, MAINE
December.31, 1.951
RESOURCES
..C:XSH;ON HAND. AND DEPO-S-TTS 137,331:28
CASH -.ADVANCES AND .WORKING ,_FUND
Petty Cash 600.00
Postage Fund 500000 1,100.00
TAXES RECEIVABLE
Encumbrances
Uncollected Taxes
Harlow.'Street Property
53;885,07
ACCOUNTS RE-CEfi-VIABLE
2, 538.'74
Police- ai►d Fie Services
Uncollected Taxes SecuredbyTax Deeds
State Aid Road Construction
5,873.16
Uncollected'Taxes
8,579.37
Uncollected Taxes Secured by Sewer Deeds
4, 956..04
State Aid Road Grant
'59873.16
Other; Miscellaneous.
23,170.48
42,579,05,
D:U�E:.FRO.M OTHER FUNDS
Capital Fund (Vine -.St, School)
-34,500.00
Capital, Fund (McEweh'Property)
10,000.00
Water Fund
10,211.,99
54,711.99
_._ . T 0 T -A -L- R -E -S0 -U R C -E S
2899607-39
9
LIABILITTES=, RESERVES, and SURPLUS
Li ABI'LTTIE�S
Prepaid 1952 Auto Excise Taxes 0,,663,16 -
RESERVES
Encumbrances
27;921.20
Harlow.'Street Property
•39070.°12
G'a'land..Str_eet: FiI.d...
2, 538.'74
Police- ai►d Fie Services
446.05
State Aid Road Construction
5,873.16
Uncollected'Taxes
35;252.99 75,102.26
SUR
- PLUS
Cash Operating Surplus -93,692.01
Unrealized Surplus 111,149.96 204,841.97
TOTAL:L-IA=BIL-:ITIES-, RESERVES
a ri-d- SUR -P LU S
2.
ESTIMATED
and ACTUA.L'REVENUES
For
the Year Ended December 31,
1951
Estimated
Accrued
Excess or
Revenue
Revenue
Deficiency*
SOURCE
STATE OF MAINE
Railroad.and Telegraph Tax
20,000.00
19,752;73
247,27*
State Bank Stock Tax
23,500.00
25,437.05
1,937.05
Library
200.00
200".00
Total
43,700,00
45"389.78
1,689.78
TAXES
Automobile Excise
125,000.00
14 6.,751.65..
21,751:65
City Supplemental Taxes
2",500>00
4,353e84
1;853.84
Total
127,800,00
151,10.5,49
23,605.49
LICENSES and PERMITS
City Clerk's Fees
12,000,00
14,607.64
2,607.64
Electrical Department
100000
100.00*
Building Inspection
1,700.00
1,982.25
282.25 -
Board of Registration
75.00
21.00
54..00*
Total
13,875.00
16,610.89
2,735,89 .
PUBLIC SAFETY
Health Department
1,.900.00
2,487,27
587.27
Police Department
79,300.00
69,163,75
10,136025*
Fire Department
5,200.00
1,,833,71
3,366.29*
Public Works Department
20,650,00
8,439.87
12,210,13*
Total
107,050.00
81,924.60
25,125.40*
CHARITIES and WELFARE
Welfare Department
14,500.00
12,397.62
2,102:48*
City Farm and Hospital
161500.00
14,545.56
1,954.44*
Total
31,000.00
26,943.08
4,056,92*
EDUCATION
School Department
1'.33,;"80Q- 00
147,-145.56
13, 345.56
Total
133,800.00,
147,145.56
13,345.56
OTHER
U. S. Housing in.Lieu of Taxes
9,000.00
9,152,00
152,00
Interest on Taxes and Tax Deeds
4,000,,00
5,052.03
1,052,03
City Hall Rental
2,500.00
2,288.41
211.59*
Auditorium Rental
2;700.00
4,634,02
1,934,02
Pine Street School Rental
22600.00
21766.58
166.58
Cemetery Receipts Sale of Lots
1,460.,00
1,794,83
394.83
Bangor -.Old Town Airport
2,000..00
2,200.00
200.00
Bass Park Receipts
21-400.00
31435.00
1,035.00
Dow Field .. Airport
100,000.00
32,394.02
67,605,98*
Miscellaneous
700,00
303.90
396.10*
Total
127,300.00
64,020..79
63,279,21*
• GRAND TOTALS
"584;'225.00
533, 1400 19
.51,084.81*
GENERAL FUND -APPROPRIATION, EXPENDITUR.E"S
and UNEXPENDED. BALANCES
-For the Year Ended December 31, 1951
Appro.
Original Increase Amended
or
DEPARTMENT! OR APPROPRIATION. TITLEAppropriations Decrease* Appropriation
Legislative
Executive
Auditing
Treasury
Assessors
Legal
City Clerk
Registration
Elections
City Hall
Auditorium
Planning
Purchasing
Health
Police
Fire
Public Works
Building Inspection
Welfare
City Farm.and Home
City Hospital
School
Vine Street School.
Electrical
Miscellaneous Services
Recreation
Cemeteries
Trust Fund Beneficiaries
Unclassified
Interest
Bond Maturity
Note Redemption
Public Library
Bass Park
,Airport
Printing
Civil:Defense
State Property Tax
Conty Tax TOTAL APROPRIATION ACCOUNTS
*reudu,
Unexpended
Disbursements Encumbrances Appropriation
400.00
. 400.00
319.89
12,250.00
12,250.00
12,135.86
14,161.00
819.00
14,.980.00
14,905.69
17,484.00
17;.484,.00
16,•510.81
18,874.00
18;.874.00
18;244.83.
4,985.00
4,985.00
4,788.31
9.475.'00- ....
..-12.348.. "..
... "-99.462.66..
-9,021.13
7,128.00
630P00
7';758;.00
7,104.55
2,075 '
.,075°. 00
2,, 4.12,'. 34
4'1, 487; 34
41487.34
-26, 219.00+
2,350.00
28, 569.. 00
21,,2;52;:48
7,757.00,
7,757.00
6,427.85
6, 450=.00
- 6',45Q<00 -
6, 522..05
6;948.00
6,948.00
6;67"3.80
39,199.00'
39,199.00
36,032.02
198,244.00
198;244-.00
193;841.22
233;819.00•
233;'819000
217,646'58
- 419,585.00-
5; 622.00-
-4-25 ; 207,00
395; 719.36 .
7,660.00
7,660.00
7,263.54
73,773.00
77.14
73,850.14
62,529.24
43,255.00
1,466,98*
•41;788.02 .
370133.87
36, 762, 00
1, 466.98 -
38,2-28.98
38; 15'9.'44
799,498.00
799,499.00
797,832.04
36,934.85
36.,00 85
361457.80
73,600.00
73,600.00-
67,670`.42'
1,550;00
500.00*
1.,050.00
368.95
-22;091;00
- "72Oe00
22,8-11.00
21,258.01
7,600.00
7., 600•. 00
7,3M'95
7,238.00
7;238.00
4,737.50.
122;700.00
12,118.14°
110,581.86
82,467;42
27,205.00.
27,205.00
26.,918.61
106,000.00•
106,000.00
106,000'.00
16,000;00'
16,000.00
16,000'.00
25;451.00
25,451.00
25,451.00
8, 400..00
Z-,"-50.0-007-'
10, 900.00
M,146.97
100, 000.00
100,600.0-0
20,532.41
. 2, 650.•00
2, fi.50 00
2,"326.89
4,700.40
4,700.00
3,685.36
239,501.98
239,'561.9p
239;501.98
67.697.15
67,697.15
67.,:697.15
2,818,385.13
39,434.85
2,857;8-89.98-
2,65.3,942.34
.2.30
10'90
40.49
133.25
.4;50
76.41
5,680.94
40,100
55.60
.334.49
909-16
736.86
13,081;36
7.56
147.44
261.31
69.54
477.05
1,321.11
387.07
57."46
2,500.00
1, 01.9.96
143.89
140.85
191.96
27,921.20
77.81
103;24
- 33.82
839.94
629.17
192,19
365x12
653'.45
1,635.58
1;289.15
38.21
218.60
2;832.49
3,493,. 62
15,435.56
15"346.28
388.90
11, 173.46
4,392'.84
1,665.96
4,608.47
.293.98
1,495.53
290.05
.50
27,094.4$
286.39
609.14
79,467.57
182.26
822.68
w
175-,956.44-
GENERAL FUND
ANALYSIS OF UNAPPROPRIATED SURPLUS
YEAR E NDE D D.E.0 E M B E R 3 1, 1 9 5 1
BALANCE, JANUARY 1, 1951
Additions;
Appropriations Unexpended
Less Unrealized Estimated Revenue
Larkin Street School Unexpended Reserve
Transfer -From Mt. Hope Cemetery Fund
Transfer From Oak Grove Tomb Fund
Construction and Alteration C. Hosp. Balance
Insurance Refund
To Close Accrued Interest Account
Profit on Sale of City Property
Refunds.
Total
DEDUCTIONS
Appropriated in Annual Resolve for 1951
Discontinued Prepaid Insurance Account
Accounts Receivable Charged Off
Prior Year Expenses
Adjustment to correct for Fund Accounting
Encumbrance of Trust Fund Beneficiaries 1951
Harlow Income Reserve
Disbursements Over 1950 Encumbrance.Reserve
BALANCE, DECEMBER 31, 1951
175,956.44
51,084.81
124,871.63
1,"344.00
2,397.61
500.00
496.26
1,380.21
831.22
147.49
23.16
97',147.00
25,013.93
3,402.94
1,134,. 20
1,175.05
2,500.00
11,228.61
891.44
215,343.56
131, 991.58
347,335.14
142,493.17.
204,841.97
4.
GENERAL FUND
CASH RECEIPTS AND DISBURSEMENTS
Year Ended Dece4er 31, 1951
JANUARY 1, 1951 BALANCE
RECEIPTS
TAXES
Current Year
Prior Years
Tax Deeds Redeemed
Sewer Deeds Redeemed
Automobile.Exc,Fse. Taxes Prepaid
Total Receipts -Taxes
REVENUE ACCOUNT RECEIPTS
OTHER RECEIPTS
Credited to Appropriation Accounts
Accounts.Receivable
TemporaryLoans
Harlow Street Property
Payments from other Funds
Loans from Capital Reseive Fund
Miscellaneous
Total Other Receipts
TOTAL RECEIPTS
TOTAL RECEIPTS and BALANCE
DISBURSEMENTS
TREASURER'S WARRANTS'PAID
DECEMBER'31, 1951 BALANCE
153,707..05
2,076,976.15
35,956.86
18;434.61
756.85
9,663.16
2,14;787:63.'
531,364.03
5.
28,828.16
126,945.07
800,000,00
6,063.58
10,628.95
36,736.77
S,Olb.73
j
1,014,219.26
i
3,687,370.92
3.,841,077.97
3„ 703, 146.69
137, 931.28
6.
.TAX COLLECTION
DURING'YEAR OF LEVY
Year Ended
Balances
Taxes
Combined
Adjusted
Collections
Percentage
December 31st.
Property
Property"Tax
Levy -Property
Combined
in year
of
4.89
Tax List.
Rate Per M
and Poll Tax
Levy
of Levy
Collections
1942
28,874,292.00
47.40
1,391,674,00
1,.389,609.09
1,328,476.00
95.6
1943
28,493,567.00
46.70
1,350,839.00
1,350,558.00
1,308,678..00
96.8
1944
28,401,613.00
46.30
1,334,276.00
1,333,689.00
11,296,645.00
97.2
1945
28,407,516.00
47.20
1,359,995.00
1,359,459.00
1,335,675.00
98.2
1946
28,888,387.00
48.90 '
1;434,650.00
1,435,059.00
1, 411, 265. 00
98.3
1947,
30,626,582..00
55,40
1, 721,621.00
1,721,701.00
1, 685, 968. 00
97'.9
1948
32;811,016.00
55.10
1,832,152.00
1,832,233.00
1,796, 972. 00
98.0
1949
36,528,744.00
54.80
2,027,398.00
2,013,993.00
1,963,525.00
97.4
1950
36,454,766.00
53,80
1,986,835.00
1,982,012.00
1, 926, 261.00
97.1
1951
37,555,470.00
56.00
2,126,983.00
2, 122, 915.00
2,076,976.00
97.8
.STATEMENT -OF O..VERLAYINGS .
YEAR ENDED DECEMBER 31 , 1951
(RESERVE FOR UNCOLLECTED TAXE-S )
Year
Balances
Taxes
Balances
Property
12/31/50 Credits
Abated
12/31%51
Prior to 3946
13,761.26
4.72
13,756:54
1946
3,308.78
4.89
3,303,89
1947
21697.70
.30.53
2,661.17..
1948
3,501.93
79.90
3,422.03
1949
8,737.81
.71.52
8,666.29
1950
6,292.11
999.21
5,292.90
1951
4,170.19
6,026.02
1,855.83"
TOTALS
38,299.59 4,170.19
7,216.79
35,252.99
*Deduct
188..69
1948
2,635.79
STATEMENT OF TAX DEEDS
YEAR ENDED DECEMBER 3 1 , 19 5 1
1950 Taxes
Property
balances
Interest
titles taken
Balances
12/31/50
and Costs
Redeemed
by City
Cancelled
12/31/51
Year 1945
223.60
165.31
101.53
16.76
1946
418.84
244.67
104.99
69.18
1947
725.20
349.94
186.57
188..69
1948
2,635.79
1,813.74
344.82
15.48
461.75
1949
6,748.49
4,154.64
198.16
4,72'
2$90.97
1950
17,453.90
11,766.31
230.86
4.71
5,452.02
TOTALS
10,751.92
17,453.90
18,434.61
1,166.93
24.91
8,579.37
7.
STATEMENT OF MUNICIPAL PROPERTY
,.. '+.:D ecem'lier�` _ "'
C L A S S I F I C A T I O N
City Hall
Auditorium
Health Department
Police Depa:r,tment
Fire Department
Highway and Bridges
Municipal Garage. and Police Station
Park Property
Gravel Bank Property
Electric Department
Wardroom - York Street
City Farm Property
Recreation Department
Cemetery Property
School Property
Library (Land Only)
Municipal Dock
City Hospital
Garland St: Athletic Field
Other Miscellaneous Property
AMOUNT
243,493.13
64,130.00
2, 181.75
16,528.60
179,025°89
3,940,341.6.9
200,000.00
485,643.00
20,000.00,
101,098.15
2,660.00
152,137.78
4,457.00
42,900.30
2,831,830.97
19.,094.00
10,0.00.00
108,000.00
90,000.00
69,536.92
T O T A L 8,583,059.18
COMBINID FUND BALANCE SHEET
As of December 31, 1951
TOTAL RESOURCES 289,607.39
421,365..97 77,513.14 '.1,217.,000.00,`. 8';:590.;953.83: ' 3,,072,6:32.50 13,669,072.83
Trust and
Municipal
Fixed
Grand
RESOURCES
General
Agency
Capital Debt
Asset
Water
Total
Fund
Fund.
Fund Fund
Fund
Fund
Al Funds
Cash on Hand and Deposit
137,.931.28
58,554.68
33,013.14
43;258:85
272,757.95
Postage Meter Fund
500.00
500.00
Savings Accounts
26,218.17
26,218.17
Securities
213,200.00
213",200.00
Securities in Custody of Water Board
103,180.00
103,180.00
Custody.:of Kirstein Fund Trustees
21,393:12
21,393.12
Hersey Fund Investment in City Hall
100,000.00
100,000.00
Accounts Receivable
23,170;48
741.97
23,912.45
Due from Water Fund
10,211:99
10,211.99
Due from Other Funds.
44,500.00
21'000.00
46,500.00
State Aid Road Grant
5,873.16
5,873.16
Taxes Receivable
53,885.07
53,885.07
Accounts Receivable - Tax Deeds
8,579.37
81579.37
Accounts Receivable-- Sewer Deeds
4,956.04
4,956.04
Deferred Charges
882.24
882.244
Engineering Projects Uncompleted
59,950.94
59,950.94
City Property Tax Deeds
7,894.65
7,894.65,
Fixed Properties
8,583;059.18
2,864,618.50
11,447,677.68
'To be Provided in Future Periods
44,500.00 1,217,000.00
1,261'500:00
TOTAL RESOURCES 289,607.39
421,365..97 77,513.14 '.1,217.,000.00,`. 8';:590.;953.83: ' 3,,072,6:32.50 13,669,072.83
G;0M"BX,NED FUND BALANCE SHEET
As df December 31, 1951
LLABILITIES
AND
Trust.arid
Municipal
Fixed
Grand
R E S E_ R V E S
General
Agency
Capital
Debt
Asset
Water
Total
Fdidt
`Fund
Fund
Fund
Fund`
'Fund
All Funds
Notes Payable
27,009.00.
27,000.00
Bonds. Outstanding
1, 190, 000.00
24,000.00
1,214,000.00
Due to Other Funds
44,500.00
10,211.99
.54,711.99
Bond Interest Accrued
375..00
375.00
Accounts Payable
115.80
115.80
Automobile Excise Taxes Prepaid
9,663.16
9,663.16
Deferred Credits.
8,,914,"94
8,914,94
Harlow Street Property.
3,070,12
3,070°12
Police and Fire Services
446°05
446.05
Garland Street Field
21538,74
2,538.74
State Aid Construction Imp. Fund
5',873.16
5,873.16
Reserve for Uncollected Taxes
35,252099
35,252°99
Reserve for Depreciation
748-„753.64
748,753,64
Reserve for Miscellaneous
33,013,14
145,OK85
178,451°99
Trust Fund Principal
363,498,79
363,498.79
Accumulated Income
11,884.92
11,884.92
Agency Fund Liabilities
45,982.26
45,982,26
Reserve for Encumbrances,
27,921.,20
11,491.51
39,412.71
Investment in Fixed Assets
"8',590`,953°83
572,400'00
9,163,353.83
Unamortized Premium on Bonds
135.94
135.94
Fund Balancing Account
204;84-1,97
1,550y794.83
=.1;755;-636080
294:; 602r°.39 ”
4I,'385e97
77, 513.14
1, 21'7; 60Ue 00-
8'590'm .83
'3,012,632.50
13, 669, 072.83
TOTAL
LIABILITIES AND RESERVES
1.o
FUVD
Cemetery
Bass Park
Chapin Park
Fogg .:.
Kirstein
Oliver
Sabine
Stetson
French Medal
Holton Public School
..Kirstein-Scholarship
Kirstein Student Loan
High School Loan
Hersey.' -
Adams .
Coe.:
Pierce .
Stodder .
Wakefield
Bangor Childrens' Home
Bangor Firemen's Relief
Bangor Fuel. Society
Bangor Mechancs.Association
Home for Aged Women
O'Connell
Mildred Varnum
Federal Income Taxes Withheld
Teachers' Retirement -
Employees' Retirement
Fees Due State of Maine
Workmen's Compensation
Vet Yana Training Program
Employees' Group Insurance
.Police Relief
Sales Tax Due State of.Maine
TOTALS
STATEMENT OF TRUST AND AGENCY FUNDS
Year.Ended.December 31, 1951
Cash Securities Fund Balances
Etc. Income Principal
26,992.75
37,000.00
4,805.46
4R 805`. 46
2,534.61
14,500.00
2,496`.76
25.00
1,000;00
25'.00'
26.37
500.00
261.37
75.00
2,000°00
75"�00
66.81
1, 000; 00
66.81
813`;90
12,000.00
813.90
.2,116;29
4,'700.00'
2,066.29
129..07
2,000'.00
129.07
134.30
5',000.00
134.30
21,955.62
3,000.00
562:50
258.43
37.14
100,000.00
10;000,00
3"0001.'00
4;000.00
11,000:00
10,0,00.00
40,000.00_.
4,682.96 10,000.00 379.18
4, 500,.00
12,'000:00 •
25,000..00
267:14 1,000.00 267. 14
300.00
15;800-,95
14;423.74
61189.65
3,169.0 4,0
5,5.33.65--
510'. 53
169'.06
165.00
20.28
108,165.97
313,200.00
11,884.92
63,992;75
14;53T.85
1, 000.00
500;00
2,000;00
1"000'.00
12,000`.00
4;750.00
2,000.00
5-,000.00
24,393.12
221:.29
100,000.00
10,000.00
3;000.00
4,000.00,
11,000.00
10,000-.00-
40,000-.00
0,000-.00-
40,000;00
11303.78
.4, 500.00
12,:000..00
2i, b0o.0o
1;600.00
300.00
15,800.95
14,423.74
6,189.65
3';169.40
5,S 65'
510.53
169-.06
165`00:
20.28
409,481.05
Total
Fund
63,992.75
4;805°46
17,034;61
1,025000
526037
2;075;00
1; 066`. 81
12',813;90
6 816.29
2,129.07
5,1344.30
24,955.62
.258.43
100,000.00
10;000.00
3;000;00
•.4,000.00
11,.0000 00
10,000:00
40,000:00
11,682.96
4;500000
12;`000; 00
25,000.00
1,267.14
300'. 00
15;800.95
14;423.74
6110,65
3,169;40
5,533.65
510.53
169.06
20'.28
421,365.97
0
CAPITAL. FUNDS
BALANCE SHEET
December 31, 1951
RESOURCES
CASH ON DEPOSIT
FUNDS TO BE PROVIDED, FUTURE PERIODS
TOTAL RESOURCES
:LIABILITIES.and.RESERVES
DUE TO GENERAL FUND
RESERVES
Construction of Meadowbrook.Sewer
Improvements to City Hospital and Home
City Farm Land Development
Purchase of Land -School. Purposes -West Side
Kenduskeag Stream Development
Equipping and Landscaping Vine St..School.
TOTAL LIABI'L.ITIES, and RESERVES
* Daduct
6;552.03
12,420.04
2,517.77*
12;793.06
286.37*
4,052.15
33,013.14
44; 500.00
?7,513:14
44, 500:00
33;013.14
77;513:14
•
12.
STATEMENT
OFDEBT
LIMIT AND
BORROWING
CAPACITY
December �1, 1951
Assessed Valuation, April 1,
195:1
37,555,470.00
• Debt Limit (5% of Valuation)
1,877,773.50
City of.Bahgor Liabilities:
'Bonded.Indebtedness
1,190,000.00
Notes Payable
27,000.00
1,217,000.00
Net.Borrowing Capacity
`660;773:`50
FUTURE
BUDGET DEBT SERVICE
ON PRESENT
DEBT
December 31,
1951
Total
Bond
Bond
Note
Note
Budget
YE A R
Maturities
Interest
-Maturities
Interest
Debt Service
1952
10.4;000..00
18,'992.50
21,000;00
252.00
144:,244,.50
1953
102,000.00
17`.267.50
6,000.00
30',00
125,297.50
1954
100,000.00
15,602°'50
115.602;50
1955
100•,000.00
14,062:50
114,.062.50
1956
98,000.00
12;347.,50
110,347.50
1957
98,000.00
10,757.50
108,757.50
1958
96,000,00
--9;19.5,00
105,195.°00
1959.
80,000.00
7;660,,00
87,660.00
1966
78,000.00
6;385..00
.84,385:,00
1961
76,000.00
5;145..00
81,145.00
1962
76,600.00
3.,940.00
1963
74, ORO. 00
2-,,77.-5 ,00
.79,940.00
76 775.00
1964
.57,000.00
1,650.00
58;650.00
1965
51,,000.00
7 OO
51,780.00
1, 190,000.00
126,560.00
27,000,00
282.00
1,343,842.00
WATER
DEBT PAID F..ROM
81'NKI'NG FUND
-
1952
6,0.00.00
6.O.Q''.00
6,600.00
1953
6',000.00
450.00
6,450:00
1954
6,000 00
300.00
6•,300.00
1955
6,000.,00
150.00
6,150.00
24,000,00
1,500,00
25;500,00
NET
DEBT RATIO
TO ASSESSMENTS
and NET
DEBT PER CAPITA
Net
Net -Debt
-Per Ca its
Y E A R
Debt
Assessments
Ratio. to
Assessments
Net -Debt
1942
995;000`.00
28,874';20.00-
.03446
34.40
1943
926,000°00
28,493;567;00
.03250
'32.'02
1944
791,060.00
28,401,613.00
.02785
27.35
1945
728,000,00
28,407,•516.00
.02563
25'.17
1946
693,050.00
28,888,387,00
:02399
23.96
1947
625,500.00
30,626,582-.00
.02042
2'1.63
1948
570,150;00
32, 811,016.00
.01738
19.71
1949
968,000.00
36,528,744'.00
.02650
33.47
1950
1,339,000.00
36,454,766.00
.03673
42,43
1951
1,219,000,00
371555,470.00
.03246
38.63_.