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Franklin Park Land & Improve.

ment Company

Tax balance

To pay $74.19.

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CITY OF BOSTON, OFFICE OF THE MAYOR,

CITY HALL, January 1, 1895. To the Honorable the City Council:

GENTLEMEN : In view of the approaching inauguration of a new administration it seenis proper to state the exact financial condition of the city at the present time.

I am informed by the City Treasurer that at the close of business on December 31, 1894, there was on hand in cash $567,178.46 credited to the general appropriations for the fiscal year 1894-5; $2,029,084.5% to special appropriations, being money derived from loans; and $539,400.51 to various special and trust accounts; making a total cash balance of $3,135,663.49.

The City Collector informs me that the receipts for the current fiscal year to date applicable to the general appropriations are $14,038,661.34, and that he estimates the revenues coming in during the month of January at $785,000, making a total probable income for the year of about $14,823,900.

As the appropriation order for the current fiscal year was $13,391,754, and as the amount of the State taxes and assessments was $811,339.97, it will be seen that the total

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appropriations for the year, aggregating $14,203,090.97, are about $625,000 less than the probable revenues.

This apparent surplus will be reduced by the amount transferred from revenue in compliance with special orders of the City Council, to meet executions of court, etc., and also by the excess of expenditures over appropriations in certain departments, principally schools, county, and police

over which the Executive has no control. These transfers and deficiencies amount to about $320,000, leaving a probable net surplus of $300,000 as the result of the financial operations of the city during the fiscal year 1894-5.

It is pleasant to be able to l'ecord the fact that during the four financial years for which the present administration has been responsible the current business of the city has been transacted without borrowing money, and that there has each year been a surplus of current l'evenues over current expenditures.

At the close of business on Dec. 31, 1894,

the Auditor's books show a gross debt of $58,654,211.56 Means of redemption, amounting to about. 22,160,347.14

Net debt

$36,493,864.42

Special efforts to procure the authority needed to carry on the public works of the city have been made, and the l'esult is the following list of loans authorized by the City Council, or by the State Legislature, and not yet negotiated. Part of these loans have already been advertised, and the l'est can be issued by the incoming administration as rapidly is the needs of the city require.

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1 Not to be issued, under the terms of the act authorizing the loan, before Jan. 1, 1895.

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