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USS n 8601 , 1929 AND ORIALS ENUE ho Warrant No. Balance 5â€"31â€"29 Receipts June .. Balance 5â€"31â€"29 Building permits Balance ~5â€"31â€"29 Balance General Balance 5â€"31â€"29 :.....:... Highwood . State® Bank Balance 5â€"31â€"29 Balance 5â€"31â€"29.... Main St. & Alleys $ Light, Streets ... Vehicle Lic. ... Fines. ... lcslccss > Balance 5â€"31â€"29.... > %yn. Fire Dept...$ 185.19 ater ‘.................; 2,2@8f. TB Permits â€":::â€":.:s.....;.. 28.00 RECEIPTS Particularsâ€" § Balance 5â€"31â€"29.... Salary Officers .._$ 666.67 Salary Marshal... 888.89 Sa]alg' Police........ 1,481.48 Sal. Health Officer 185.18 Repair City Hall. 185.18 Mise. Corp. Purp. 277.78 Permit Dump ... 10.00 Permit Milk Wag. _ 40.00 Pool Licenses ........ â€" 36.00 Plumbers‘ Licenses _ 1.00 Fines ...~::::.;........ 88500 To the Honorable Mayor and City Council: Gentlemen: _ Below fleue find statement of the Receipts and Disbursements for the month of June, 1929, and the balance. § Cir l Mora GENERAL FUND ‘ â€" Thursday, July 18, 1929 9B 99 $» 99 5â€"81â€"29â€" Taxes : $9 99 99 <TB 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 94 95 96 97 98 99 100 2. 9 4234118 â€" . c BONDED INDEBTEDNESS FUND anals..cc ... 180.92 ~None oc t anlg mssc‘ ‘~800.00 ' SPECIAL ASSESSMENT FUND ............$87,646.34 None Grand Totals ............$45,157.45 Total Disbursem s2.2.22c:~ 8,960.63 during June, 192 185.19 444.44 860.00 35,00 $ 1,524.63 % .$ 3,717.28 STREET AND ALLEY FUND . $2,225.52 Street Lights 85.19 Gas & Oil ... 44. 44 Supplies .........: 60.00 _ : Saly. & Wages 426.05 9,317.88 883.93 465.71 7644 562.27 367.10 380.58 412.14 1,948.62 468.10 455.37 1,115.75 822.01 765.87 1,387.99 512.14 1,141.45 205.88 1,525.95 1,611.75 ~ _# 8,750.15b â€" â€" $ SPECIAL WATER FUND $ 1,738.21 Hyd. & Meters .$ .19 Filtingsâ€" . ::...... T18 Saly. & Wages ... .00 Firemen Wages.... $ 2,494.97 Firemeq Insurance $‘ * 4. Firemert, Supplies CITY OF HIGHWOOD OFFICE OF TREASURER $54,118.08 Handâ€"June 30t Respectfully submitted, F. A. EHRENS $ 1,138.56 $ 2,349.12 INTEREST â€"FUND $ 2,228.22 None 120.90 BUILDING FUND $~1,075.61 Commr. $ 13022 _ . FIREMEN‘S FUND $ 553.23 None $ 439.90 4,157.18 62.95 Total Disbursements during June, 1929 $1,806.54 Total Cash on Handâ€"~June 30th. . Commr. Salary .$ 48.95 DISBURSEMENTS Particularsâ€" Salary Police........$ Sal. Spl. Police...... Coal City Hall ... Police Equip........ Saly. Sany. Off..... Post. & Staty ...... Miscl. Expense ... Treasurer ¥» $ ~48.95 ©1,089.61 $ 742.64 576.89 310.79 15.179 105.50 21.50 117.00 * 6.31 438.06 . â€"CGLef ‘75.93 261.00 525.00 5.00 18.00 38.23 68.15 68.60 19.06 94.86 BALANCE .$ 2,974.64 $52,311.54 $ â€" 6.62 222.32 184.54 256.14 328.18 1,704.45 1,170.89 37,646.34 76.114 ~562.27 367.10 380.58 412.14 1,948.62 468.10 455.37 1,115.75 822.01 765.87 1,387.99 512.14 1,141.45 205.88 1,525.95 1.611.75 426.05 9,317.88 883.93 465.71 .3,656.29 2,349.12 3,312.09 553.28 730.22 During the audit, cash receipts and disbursements of the General Funds were carefully checked for the two fiscal years énded. April 30, 1929. Sus:entions were made in connection with a new system and also a budget plan ereby the Council can check monthly the actual receipts against the amount expected toabe‘_ rea‘lized and the actual expenditures against the amannts amnmamnniag. KK so uks amounts appropriated therefor. SPECIAL ASSESSMENT FUNDS ’ These funds are simply held by the City as a trustee and have nothing to do with the operations of the City. â€" (1) Were it not for the situation in connection with the public benefits cf the City which are delinquent and past due, together with the interest thereon, the City of Highwood would be in a very good financial condition. > . :(2) The City Council faces the situation of disposing of the liability for these past due public benéfitsâ€"which should have been paid heretsfore. One possibility, such as followed recently by a Village in Lake County, in dealing with such a problem was to issue Public Benefit Bonds,, which might be done as Highwood does not have a very large bonded indebtedness; only $4,000.00 on the fire truck. > Te * * f (3) The special assessment funds which have delinquent unpaid public benefits owing to them at April 30, 1929, wereâ€" ‘ "2s « Assessment Amount unpaid â€" cA * number April 30, 1929 â€" 72 â€" a $ 128.34 ie a 78 «+ , 99.66 _ 74 â€" . 2,007.10 2 " . ' 474 487.02 & & <o 78 00 149.92 79 * 24 90 AVAILABLE ASSETS: °~ % Cash in Highwood State Bank ... .. Cash in hands of City Collector . ....._._.._._ ... ... .. 0000000 _._ :1928 taxes due from the County Treasurer which willâ€"be paid in 1in0on 3 _ P SURPLUSâ€"Operating Fundsâ€"April 30, 19029 ............... o. .‘COMI}IENTS oN FINANCIAL STATEMENT BALANCE available with which to operate City during fiscal year 1929â€"30 (To this will be added other revâ€" enue from licenses, fines, permits, CLCE.) :.: mssc resivere. DEDUCTâ€"ADDITIONAL LIABILIMES TO BE MET . BY FUTURE TAXATION: 6% Fire truck bonds ... ... i _ â€"â€" 1 LIABILITIES PAYABLE FROM ABOVE ASSETS: _ â€" _ Atcounts‘ payableâ€"Includes. current bills @nt due for In accordance with the usual businesslike procedure followed by all muâ€" nicipalities in Lake County and the desire of the present City Council of Highwood to ascertain the exact financialâ€"condition of the City of Highwood, the certified public accounting firm of Paul Pettengill & Co., offices in Chiâ€" cago, Waukegan and Racine, was engaged.to: make an audit of the City‘s records. This accounting firm makes the audits of practically every city and village in Lake County and have specialized in municipal accounting. : j REPORT OF AUDITORS DELIVERED The detailed report of the auditors has been delivered to the City Cauncil but due to its lengthy and technical nature, the auditors have prepared a speâ€" cial summary of the report which can be published in the newspapers. This special report follows, however, the full detailed report of the auditors is on file at the City offices for examination by any citizen. e AUDITORS‘ SUMMARIZED REPORT _ In discussing the financial affairs of a municipality one must not take into account any’;of the cash on hand, installments anpaid or bonds owing for the special assessment funds. Special assessment fund represent trust funds in WB io. teuaied io Te t e int esn i e ahenitietanthe a sense and ‘the City officials cannot use them to pa monthly operating expenses. * ' ~ Therefore, the following statement shows only the the City‘s operating or general funds at April 30, 1929 water to City of Highland Park* Delinquent public benefits payable ... Estimated delinquent acerued interest benefits. ...=...n....nslnn0‘scl.. 6% Fire truck bond â€"......0.. 00 c Public benefits not yet due in A9BY . â€":s1. .ce ce me nc o cile Pe enc en Pe en Pnd en ic en Ay, Unpaild: water rent® .:...........0..0.0GG0l......0.00000... Advance to Special Assessment Fund No. 110 Total assets to méet liabilities " 108 »» 109 107 101 102 103 105 * 107 109 FINANCIAL CONDITIONâ€"APRIL 30, 1929 Total 82 83 84 88 $37,646.34 1,049.56 25.68 532.26 . T14.48 2,048.172 3,625.68 101.54 639.32 GENERAL REMARKS Respectfully submitted, . .. ":: F.‘A. KHRENS, on above public City Treaéurex. Amount unpaid April 30, 1929 $ 128.34 ¢ 99.66 _ 2,007.10 487.02 149.92° ~ * 34.20 1,333.21 28.2028 <â€" 197.81 . â€"â€" 107.18 4G.36 99.173 â€" 464.18 $5,183.43 pay salaries and other financial condition of $3,000.00 ~ 6:567.94 $7,195.36 . 5,183.43 2,657.00 1,000.00 $11,539.% $ 7,461.03 . 424.43 $27,575.05 $37,646.31 16,035.79 10,136.20 9,103.39 150.00 9,567.94 1,971.32 1,049.56 25.68 582.26 714.48 2,048.172 3,625.68 101,54 639.32 26