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'-;.i.1 - I I-. l ~,..1.:~I ~ ~~l'.,~ t, - q-, ~ ~ ~ ~ - ~..~~~. 4".~~~.I". f,;!,ctr I r.,, -;lo,, "., 7 I., - - 1~ ~ ~~~ -~~-;. - ","',, -~~~~~~~~,i~~~,,., ~~~1, I, - -., -,'A,-:i::~ -- e!-", c,;-, I I.6 1,., -~~~~~~~~~,~~~~,~~,. ~ ~ ~ I.,,,','.'- "..~~~~~~~~~~~, ~~,~~~',, w~~~~j" ',`~~~~~ ",io ~~,. ~., ~ I.. ~_ Il,'. - ~-;_` I II..:", r -, Y,. -.:- I" I I:,;:;,,i, _:.-,_~l, - --:*.- '-,.;.,~,;; I,, I.,.-1 -. ~~~~~~~~~.I.,. ~ ~ ~ I _.I~~~~_ 11 _; ~ ~ ~ ~,'x;.] I, ll ~-i ~~. i I;I, __.~~~~~~~~~~, _. ra~~~~~~~~ ~~~,.~ ~ ~~~~,.,,~~~~~~~,N),..I i ~,. l~-~ ~,..,.. -I". -..;./.- ~:~? j!a, ~ ~ ~ ~ ~ ~ ~ 1 ii i 41 WUIUHW Ul 111111111IL9 A RiTAS; IIG Q OkE PENIN LAM I- wwzolm-i 1, I IT11 I I I I...... 1. I I I I I I I I I I I I I I I I I RI THE CITY OF NEW ORK( ( DEPARTMENT OF FINANCE THE BUSINESS OF NEW YORK CITY HOW THE CITY GETS ITS MONEY AND 7ai HOW IT SPENDS IT BUDGET APPROPRIATIONS; 1910 TAX LEVY and COLLECTIONS: FUNDED DEBT; DEBT LIMIT; ASSESSED VALUATIONS, ETC. WM. A. PRENDERGAST COMPTROLLER. THE CITY OF NEW YORK-DEPARTMENT OF FINANCE. 1 NEW YORK, October 10, 1911. e/ TO THE PUBLIC. The purpose of this pamphlet is to give a popular presentation of the city's finances. It is intended to place before the public a summary of the city's expenditures and outlays and of the main sources from which it derives its income. The tables included herein have been taken largely from the Comptroller's summarized report of the city's financial transactions for the year 1910. In some instances the statements have been supplemented by bringing the transactions up to a period in 1911, as in the case of the collections from the 1910 tax levy (pp. 18-19), which have been brought up to June 30, 1911, at which date there had been collected 86.99 per cent., or practically 87 per cent. of the entire levy. This is the highest percentum of collections ever obtained in New York City from any tax levy in the first nine months' collecting period. The financial conditions of the city, the total amount of its current administrative budget, the annual tax levy, debt limit, ability to finance subway construction, to extend its water supply system, to build schools, docks, etc., etc., are every year attracting greater and wider interest. One of the main purposes, therefore, of this pamphlet is to meet this interest in the city's affairs by giving a resume of its income and outgo, arranged under such a broad classification as to bring the significance of the transactions reflected in the thousands of accounts necessarily carried on the books of the department of finance within the grasp of everyone interested in the subject of municipal finance. Since the first of January, 1898, when the consolidation of The Greatness the Greater City went into effect, the City of New York has of New York. grown far beyond the realization of its citizens, and its magnitude as a great municipality and financial and business centre can best be comprehended by a comparison of its area, population and financial transactions with those of some of the world's noted cities. New York is larger in area than any other city in the United States, covering 326.90 square miles, as compared with 190Y2 covered by Chicago, and 1292 by Philadelphia. The United States Census showed that the city (y had a population in April, 1910, of 4,766,883-a gain of 38.6 per cent. during the decade, which was greater than that of any other large city of the United States. The annual increase of the city's population is greater than the K population of cities like Worcester, Syracuse or New Haven. The cities of St. Louis, Boston, Cleveland, Baltimore, Buffalo, San Francisco, Detroit, Milwaukee, St. Paul and Washington are all large and splendid municipalities, but the population of New York equals their combined population. Its municipal operations equal the aggregate expenditures and outlays of the fifteen next largest cities in the United States. The combined population of Berlin and Vienna would not make a New York, nor would that of Philadelphia and Paris. The population of our ii 11 - city is greater than the combined population of the provinces of Quebec and Ontario, in which are the large cities of Quebec, Montreal and Toronto. With the exception of Greater London, New York has no equal as a metropolitan city. It is the greatest municipality in the world under one central government, and the Department of Finance of this city is charged with the duty and responsibility of auditing and registering all of the vast financial transactions of the municipality. The " Port of New York " has a total waterfront on rivers, bays, sound and ocean of 444.9 miles, of which 145.6 are in the Boroughs of Manhattan and The Bronx, 132.3 in Brooklyn, 116 in Queens, and 51 in Richmond. There are over sixty miles of the total waterfront in actual commercial use, while the undeveloped areas make the capacity of the Port adequate to maintain through many years to come a constant growth in commercial activity. During the year 1910 the receipts from dock and slip rents and leases aggregated $4,363,514, and the fares and privileges from the municipal ferries, which are operated by the Dock Department, brought an additional revenue of $942,596. The increase in these collections was more than $539,000 over the receipts from the same sources in 1909. New York is not only the greatest commercial city of the country but it is also the greatest industrial city. There are more manufacturing establishments, more manufacturing capital is employed, and there is a greater yearly value in manufactured products in New York City than there is in any state in the Union, excepting Pennsylvania. Our city is first in population, in wealth, in commerce, in manufactures and in inland trade. It is likewise the publishing centre of the United States, and it shares with London, Paris and Berlin the distinction of being one of the four leading financial centres of the world. The assessed valuation of taxable real estate in the City of New Y ork is............................................... $7,858,840,164 On January 1, 1898, it was.................................. 2,463,135,687 An increase since consolidation of................ $5,395,704,477 These figures of increase may be interestingly compared with the total gold production of the world from 1898 to 1910, which was $4,630,162,728, of which the mines in the United States yielded $1,092,464,500. For educational purposes this city spends annually an amount practically equal to the total expenditures made for similar purposes by the seven next largest cities in the country, viz., Chicago, Philadelphia, St. Louis, Boston, Cleveland, Baltimore and Pittsburg, the combined population of which cities is over 41 per cent more than the total population of the City of New York. The number of scholars attending the city's day schools is greater than the aggregate day school attendance of the cities of Chicago, Philadelphia, St. Louis, Cleveland and Baltimore. The budget for this year carries appropriations for educational purposes aggregating $31,355,065. For charitable purposes $7,902,803 is included, and in addition there is $1,202,125 provided for Bellevue and Allied Hospitals. The expenditures for public improvements by the city from 1898 to September 1, 1911, aggregated upwards of $716,000,000, among which may be cited iii $106,100,000 for the purchase of sites and the construction of school houses, colleges and libraries; $130,600,000 for water supply; $86,653,000 for docks and ferries; $73,302,000 for subways; $84,700,000 for bridges; for public buildings other than schools and libraries upwards of $66,000,000; for streets and roads over $100,,000,000, and for parks, driveways, etc., nearly $33,000,000. The question of the debt limit of the city is ever with us, and a Debt reference to pages 2 and 4 of this pamphlet will show that the margin Limit. of the city's legal borrowing capacity expanded from $78,886,025 on January 1, 1911, to $159,300,978 on July 1, 1911. This was due to the great increase in the assessed valuation of taxable realty. Of this margin or debt limit $60,482,725 was available for rapid transit purposes only, and $98,818,253 was the margin available for such purposes as might be determined by the Board of Estimate and Apportionment. The revenues of the City of New York are derived from Receipts and many different sources-annual taxes, the collections from assessExpenditures. ments imposed on property benefited by special improvements made, the revenues from water rates, and the collections through some seventy or eighty different departments, bureaus or collecting offices of the multifarious miscellaneous revenues of the city. These must all find their way to and be recorded on the books of the Department of Finance, which, during the present administration, has developed and extended a system of accounting control over fully 90 per cent. of the revenues collectible by the city. On pages 4 and 5 is a summary of the net cash receipts and payments during the fiscal year ending December 31, 1910. This table has been so framed as to give in one complete picture the principal elements of the city's income and outgo, so displayed that the amount and general character of the receipts and the purposes of the expenditures are clearly shown. The actual cash receipts during the year were $452,128,635, of which $163,537,979 came from taxes, assessments, water rates and interest thereon. This amount was $20,700,000 in excess of the receipts from the same sources during 1909. In 1910 the revenue from excise taxes, mortgage taxes and bank taxes yielded $10,802,000; from dock and slip rents and ferry fares and privileges $5,306,110 was derived. Nearly $3,000,000 was collected from bridge tolls, franchise privileges, licenses and permits. The Interborough Rapid Transit Company paid as subway rentals $2,200,772. From interest on deposits of current bank balances the city obtained $667,077, and $1,180,000 was recovered from fees, fines and costs. These enumerate the chief amounts of the city's revenue receipts, which aggregated more than $191,100,000. There were $50,000,000 of long term bonds sold to the public, from which nearly $638,000 in premiums was obtained. Maturing bonds of a like kind to the amount of $12,199,720 were redeemed during the year, thus making a net addition to the funded debt of $37,800,280. The other receipts consisted of revenue bonds sold to the public, amounting to upwards of $210,000,000, more than which amount, however, was paid off during the year. In this connection it may be added that the table on page 26 of this pamphlet shows that the outstanding revenue bonds at the close of 1910 were $1,500,000 less than at the close of 1909. iv In other words, upon a larger budget than in 1909 the present administration financed the city during 1910 pending the collection of taxes and retired a greater amount of revenue bonds than had been issued during the year. This financing of the city during 1910 by means of short term revenue bonds was carried out at an interest saving as compared with 1909 of more than $1,000,000. The arrangement which has been followed on the tables (pp. 5, 7 and 9) classifying the expenditures from the City Treasury makes their general purpose obvious. All departments, bureaus and divisions whose functions and purpose are closely akin have been brought together into significant groups, thus giving a clear and easily comprehended statement of the total amounts expended under each broad administrative function. The total outlays by the city during 1910 for construction, equipment and maintenance of public buildings, streets, bridges, water supply, rapid transit, etc., aggregated $81,579,838, as compared with $77,681,783 during the preceding year. Attention is called to the table on pages 14-15 in which the Budget budget for 1910 has been organized into sixteen different groups Groupings. with a view to show the total appropriations for these functional purposes and also the net expenditures therefrom during 1910 together with the actual payments of warrants by the Chamberlain to December 31 of that year. On the immediately following pages comparison of the budgets of 1909, 1910 and 1911 is made along the same lines of functional division, and the per capita cost of the total appropriations for each governmental function is also shown for each one of the years stated. The table on pages 18-19 segregates the tax levy of 1910 Tax Levy in two main divisions, the first according to borough and the of I9IO and second according to the general character of property upon which Collections taxes are levied; that is to say, on lands and buildings; special Thereon to franchises; real estate of corporations, and personal property. June 30, I9gI. This table shows the total collections from October 3 to December 31, 1910, and from January 1 to June 30, 1911, together with the percentums of the collections to the total amount levied in each borough and also the corresponding percentages against lands and buildings, etc., etc. On June 30, 1911, 91.21 per cent. of the taxes of 1910 levied against lands and buildings had been collected; 69 per cent. of the personal property tax, and a little over 45 per cent. of the special franchise taxes. On pages 20-21 are tables showing the total amount of assessAssessments ments levied during 1910 and from January 1 to June 30, 1911. Levied in This is the first time such tables have been included in any pub19IO and x9I1. lished statement of the city's finances. The purpose is to show the total amount of assessments levied during the year, divided according to the boroughs and classified according to the fund or general purpose for which these assessments were laid, viz., whether for street improvement fund, for street and park openings, or for special assessments of various kinds. The tables also show the total amount of all assessments levied during the period under review which are chargeable directly against property owned by the city, and also the amount which is chargeable to the city at large as the proportion of the assessments which it must bear. v The table on page 22 of the city's funded debt as of SepFunded Debt tember 1, 1911, has been framed to bring first into view the total September i, amount of outstanding bonds which have been issued to finance I911. undertakings that are largely or in part self-carrying. A reference to this table and to the explanation on page 23 will serve clearly to show the purpose of this classified grouping of the city's funded debt. The tables following show the city's funded debt as of January 1, 1898, and the yearly additions thereto up to January 1, 1911. These are supplemented by a table showing the assessed valuation of taxable real and personal property each year from 1897 up to and including the valuations of 1911. Three A recent issue of the Wall Street Journal contained a brief Important review of three important financial measures prepared under my Financial direction and introduced at my request, which were passed by the Measures. Legislature during 1911. The article said, in part: "A long step towards putting the city finances upon a businesslike basis has been taken in the three bills * * * regulating the subjects of tax collections and borrowings by the city. The importance of the subject may be inferred in a minor way from the fact that the saving in interest alone to the city by making the collection of taxes semi-annual instead of annual will be about $2,000,000 a year-more than 40 cents per capita, or $2.00 per family of five. "The three measures * * * were drawn up in the office of Comptroller Prendergast and passed the Legislature substantially as they were prepared. Under the present system of collecting taxes * * * there * * * is a continuing and growing deficit for a period of ten months, reaching a maximum before the taxes come in in excess of one hundred and fifty million dollars * * *. Under the new plan payment of half of the assessed taxes will be required semi-annually on May 1 and November 1 * * *. Thus the city will have at its command half its annual revenue substantially six months earlier than at present. Where interest is now paid in the course of a year to the amount of about $4,500,000, such borrowings will call hereafter for about $2,500,000 * * *. " Based upon equally sound principles is the authority now given to the city to borrow on short term notes in anticipation of the sale of corporate stock * * *. Under this system financial officers will be able to avail themselves of the best conditions of the market for selling corporate stock and to tide over periods of temporary stringency by the sale of notes. In this respect they will apply in the business of the city the same principles which have been applied recently by the railways in handling their finances. The authority given to the city to issue stock expressed,in terms of foreign money will also be valuable in widening the market for its obligations. "Measures like these are of more direct and immediate importance to the consumer than possible changes in the Federal tariff and revenue laws, which bulk so large in public discussion." The three laws referred to in the article cited, viz., an act providing for the semi-annual collection of taxes; an act permitting the Comptroller to issue notes in anticipation of the sale of corporate stock, and an act permitting him to issue corporate stock in foreign countries, although independent in character are cumulative in the force of their provisions to save money in the administration of the city, and we confidently expect that the saving in 1912 which will be effected through these measures will fully equal the amount anticipated in the quoted review. WILLIAM A. PRENDERGAST, Comptroller. 2 STATEMENT SETTING FORTH the CONSTITUTIONAL BORROWING CAPACITY OF THE CITY of NEW YORK as at DECEMBER 31, 1910 Prepared by direction of the Comptroller. TEN (10) PER CENT. of Assessed Valuation of Real Estate subject to Taxation, as per Assessment Rolls for 1910............................................................ $704,419,267 44 GROSS FUNDED DEBT as at DECEMBER 31,1910. $946,003,798 14 From which are to be exempted, in accordance with the provisions of the Constitution as determined by the decision of the Court of Appeals, COUNTY BONDS and certain W A T E R BONDS-the latter for Debt incurred subsequent to January 1, 1904, aggregating......... $99,070,694 22 RAPID TRANSIT BONDS exempted by decision of Appellate Division, Supreme Court............ 43,868,325 18 $142,939,019 40 Net Sinking Fund Holdings for the, Redemption of Bonds; 'lso Cash available for Redemption and Amortization of Bonds.... 248,073,849 16 391,012,868 56 TOTAL CONSTITUTIONAL FUNDED DEBT......... $554,990,929 68 ADD THERETO: Net Land Liability, including Interest to December 31, 1910-Estimated.......................... $35,706,481 00 Net Contract Liability............................ 40,892,106 98 Judgments and Open Market Orders-Estimated........................... 750,000 00 $77,348,587 98 Less Cash Balances Available Therefor: Corporate Stock and Assessment Funds, not ineluding Cash Balances from Water Bonds sold.... 6,806,275 83 70,542,312 15 625,533,241 73 MARGIN of LEGAL BORROWING CAPACITY of THE CITY of NEW YORK as at DECEMBER 31, 1910 (P. M.), i. e., DEBT LIMIT......................... $78,8S6,OU 67 The Margin thus established is available for: RAPID TRANSIT PURPOSES ONLY (Manhattan-Bronx Rapid Transit Bonds exempted)....................................... $43,868,325 18 April 8, 1910-Resolution of Board of Estimate and Apportionment, Approving Issue of Corporate Stock for Construction of Additional Rapid Transit Railroads....................................... 13,000,000 00 $56,868,325 18 For Such Purposes as the Board of Estimate and Apportionment may determine, including Rapid Transit Bonds, should the Board so decide....................................................... 22,017,700 49 TOTAL DEBT LIMIT (as above)...................................... $78,886,06 67 3 STATEMENT SETTING FORTH the CONSTITUTIONAL BORROWING CAPACITY OF THE CITY of NEW YORK as at JULY 1, 1911. Prepared by direction of the Comptroller. TEN (10) PER CENT. of Assessed Valuation of Real Estate subject to Taxation, as per Assessment Rolls for 1911......................................................... $785,884,016 40 GROSS FUNDED DEBT as at JULY 1, 1911...... $1,015,188,617 43 From which are to be exempted, in accordance with the provisions of the Constitution as determined by the decision of the Court of Appeals, COUNTY BONDS and certain W A T E R BONDS-the latter for Debt incurred subsequent to January 1, 1904, aggregating........ $121,624,198 98 RAPID TRANSIT BONDS exempted by decision of Appellate Division, Supreme Court............ 47,482,725 18 $169,106,924 16 Net Sinking Fund Holdings for the Redemption of Bonds; also Cash available for Redemption and Amortization of Bonds.... 268,684,903 48 432,791,827 64 TOTAL CONSTITUTIONAL FUNDED DEBT......... ADD THzBRTO: Net Land Liability, including interest to June 30, 1911-Estimated............................ $24,000,000 00 Net Contract Liability, June 30, 1911.............. 38,023,264 23 Judgments and Open Market Orders-Estimated.... 500,000 00 $582,396,789 79 Less Cash Balances Available Therefor: Corporate Stock and Assessment Funds, not including Cash Balances from Water Bonds sold; and Unallotted Cash Balances of Proceeds of Sales $62,523,264 23 of Corporate Stock........................... 18,337,015 69 44,186,248 54 626,583,038 33 MARGIN of LEGAL BORROWING CAPACITY of THE CITY OF NEW YORK as at JULY 1, 1911, i. e., DEBT LIMIT........................................ $159,300,978 07 The Margin thus established is available for: RAPID TRANSIT PURPOSES ONLYManhattan-Bronx Rapid Transit Bonds Exempted.................................. $43,868,325 18 Brooklyn-Manhattan Rapid Transit Bonds Exempted................................. 3,614,400 00 April 8, 1910-Resolution of Board of Estimate and Apportionment, Approving Issue of Corporate Stock for Construction of Additional Rapid Transit Railroads............................ 13,000,000 00 Total Margin Available for Rapid Transit Purposes Only.............. $60,482,725 18 For Such Purposes as the Board of Estimate and Apportionment may determine, including Rapid Transit Bonds, should the Board so decide................................................... 98,818,252 89 TOTAL DEBT LIMIT (as above)...................................... $169,800,978 07 4 SUMMARY of NET CASH RECEIPTS and RECEIPTS. Jan. 1, 1910, Total Cash Balance in all Funds....................................... $18,025,602 89 Taxes Collected.............................$........133,590,618 96 Assessments Collected............................... 11,527,556 55 Water Rates and Penalties........................... 13.965.627 92 $159,083,803 43 Redemption of Sales of Taxes, etc.................................... 30,445 16 $159,114,248 59 Water Meter Funds................................. 37,523 11 Interest on Taxes, Assessments and Water Rates, etc.... $4,349,065 00 Charges on Taxes and Assessments................... 25,134 82 Old Taxes, Assessments and Interest.................. 12,007 44 4,423,730 37 Educational Moneys from State....................... 1,953,667 08 Bank Taxes......................... $3,443,279 28 Excise Taxes........................ 6,019,661 87 Mortgage Taxes and Interest (3,195.27). 1,339,310 64 10,802,251 79 Principal of Bonds and Mortgages.... $34,690 83 Interest on Bonds and Mortgages..... 12,838 04 Dividends on Stocks................. 89 58 47,618 45 Interest on Deposits................................ 667,077 70 Dock and Slip Rents and Ferry Leases. 4,363,514 52 Municipal Ferries-Fares and Privileges 942,596 10 5,306,110 62 Bridge Tolls........................ 681,133 52 Franchises......................... 925,898 33 Privileges.......................... 609,863 33 Lioenses............................ 583,135 00 Permits............................. 179,286 80 2,979,316 98 Rapid Transit Rentals-S. F. Installments.......................... 489,879 69 Rapid Transit Rentals-Interest.... 1,710,892 93 2,200,772 62 Rents from other City Properties..................... 562,097 10 Fees, Fines, Penalties and Costs..................... 1,179,200 92 Forfeited M oneys.................................. 30,767 07 Conscience M oneys................................ 1,405 47 Sundry Refunds and Reimbursements................ 870,385 46 Sales of Real Estate................... 633,563 50 Sales of Old Buildings and Old Materials. 270,328 54 903,892 04 Miscellaneous Receipts............................... 66,611 60 27,571,174 90 Total Revenue Receipts.......... 191,109,153 86 Sundry Receipts subject to Refund.................................. 134,280 19 Proceeds of Debt Obligations: Corporate Stock Sold to Public....................... $50,000,000 00 Special Revenue Bonds sold to Public.................. 7,064,625 00 Revenue Bonds sold to Public........................*203.182,653 48 Premiums on Bonds Sold to Public.................... 637,922 89 260,885,201 37 NET CASH RECEIPTS.......................................................(a) 452,128,635 42 T otal................................................................. $470,154,238 31 GROSS RECEIPTS. To City Treasury (p. 8)...........................................$467,662,168 18 To Sinking Funds (p. 10)......................................... 40,023,947 30 -------- $507,686,115 48 Deduct inter se transactions, viz., Receipts by City Treasury or Sinking Funds, which, at the same time, constitute Payments by either division: City Treasury Receipts from Bonds sold to Sinking Funds.............. $33,722,795 77 Transfers between Special and Trust Accounts........................ 273,489 86 Payments to Sinking Fund No. 1 from General Fund................... 3,407 26 Sinking Fund Receipts from City Treasury, viz., Interest on Sinking Fund Investm ents.................................................. 7,196,172 33 Sinking Fund Receipts-from Installments levied...................... 7,160,614 84 " " " -Redemption of Bonds by City Treasury......... 7,201,000 00 55,557,480 06 NET CASH RECEIPTS, as above........................................... (a) $452,128,635 42 NoT-The Segregation of the Gross Receipts and Expenditures as between the City TREASURY and the * Maximum borrowings at any time on 1910 taxes, $90,761.443. 5 PAYMENTS JANUARY 1, 1910, to DECEMBER 31, 1910. DEBT SERVICE: PAYMENTS. Interest on the City Debt (City Treasury)............ $35,255,190 22 " " " <" (Sinking Funds)........... 1,391,606 40 $36,646,796 62 Less Interest on the City Debt held by Sinking Funds..................................... 7,196,172 33 $29,450,624 29 Redemption of the City Debt (C. T.)................. $5,496,240 39 " It It " (S. F.)................. 6,730,900 00 $12,227,140 39 " of Special Revenue Bonds (C. T.)...... 5,108,150 00 $17,335,290 39 Less S. F. Holdings redeemed by City Treasury.. 3,701,000 00 13,634,290 39 $43,084,914 68 Redemption of Revenue Bonds..................... 208,173,410 40 Less amount of such held by S. F. and redeemed by City Treasury............................. 3,500,000 00 204,673,410 40 EXPENSES OF THE CITY GOVERNMENT: Paid from Appropriations of 1909 and Prior Years.... $16,547,139 45 Paid from Appropriations of 1910.................... 97,428,014 60 Paid from Proceeds of Special Revenue Bonds, i. e., Supplemental Appropriations; Claims and Judgmcnts, and Miscellaneous......................... 7,066,379 63 TAXES-On water property situate without City...................... OUTLAYS FORCONSTRUCTION, EQUIPMENT AND MAINTENANCE OF PUBLIC BUILDINGS, STREETS, BRIDGES, WATER SUPPLY, RAPID TRANSIT, ETC.: Paid from Special Accounts, and from Corporate Stock Accounts....... $247,758,325 08 121,041,533 68 166,147 18 81,579,888 42 SUNDRY PAYMENTS: To Various Beneficiary Societies (S. F.).............................. Miscellaneous (Special and Trust Accounts).......................... Refunds of Revenues to Correct Errors (S. F.)....................... Sundry Refunds-(City Treasury)................................ " " - (Sinking Fund)................................... $24,066 00 203,374 83 36,414 61 1,092,425 13 2,000 00 1,358,280 57 NET CASH PAYMENTS.................................................... (a) $451,904,124 93 December 31, 1910, Total Cash Balance............................................... 18,250,113 38 Total.................................................................. $470,154,238 31 GROSS EXPENDITURES. By City Treasury (p. 9)............................................ $465,553,822 21 By Sinking Funds (p. 11)........................................... 41,907,782 78 $507,461,604 99 Deduc Sc Trans[ Paym( City T Sinkin t inter se transactions, viz., Payments by City Treasury or Sinking Funds, which, at the ime time, constitute Receipts by either division: fers between Special and Trust Accounts......................... $273,489 86 ents from General Fund to Sinking Fund No. 1................... 3,407 26 'reasury Payments of Installments to Sinking Funds................ 7,160,614 84 II" " to Sinking Funds in Redemption of Bonds....... 7,201,000 00 " Payments of Interest on City Debt to Sinking Funds..... 7,196,172 33 tg Fund Payments-Investments in New York City Bonds......... 33,722,795 77 55,557,480 06 NET CASH PAYMENTS, as above........................................... (a) $451,904,124 93 SINKING FUNDS respectively is shown on the succeeding statements, pp. 6 and 11. 6 THE CITY OF NEW YORKSUMMARY of CITY TREASURY RECEIPTS and RECEIPTS. Cash Balance as at January 1, 1910, viz.: Moneys in] various Depositories to the Credit of the City.............................. Treasury...................................... Taxes of 1898 and Prior Years' levies... $116,855 65 Taxes of 1899-1909 levies............. 31,512,564 09 Taxes of 1910 levy...................101,961,199 22 $133,590,618 96 Redemption of Sales of Taxes and Assessments, plus} 30,445 16 Interest thereon............................... 3 1 Assessments....................................... 11,468,975 63 W ater Rates....................................... 4,116,063 92 W ater Meter Fund.................................. 37,523 11 $149,243,626 78 Interest on Taxes................................... $3,485,713 45 Interest on Assessments............................. 811,322 76 Interest on Water Rates............................. 47,403 00 Interest on Water Meter Funds...................... 1,922 00 Charges on Taxes and Assessments (Adv. Sales of)...... 25,134 82 Old Taxes, Assessments and Interest.................. 12,007 44 4,383,503 47 $12,586,026 60 7 liseellaneous Receipts (as under)................................. Viz.: Educational Moneys from State....................... $1,953,667 08 Viz.: Public School Moneys............... $1,702,225 00 Special High School Fund............ 99,703 72 Normal College, Special High School Fund............................. 3,978 43 Training School..................... 55,043 93 Public School, Library Fund.......... 92,716 00 $1,953,667 08 Special Taxes: Excise Taxes...................... $6,019,661 87 Mortgage Taxes.................... 1,336,115 37." " Interest............. 3,195 27 Bank Taxes....................... 3,443,279 28 10,802,251 79 Rapid Transit Railroad Rentals-Payments by Inter-) borough Railway Company towards Interest on[ Subway BondslMan.-Bronx......... $1,568,963 86 f 1,710,892 93 JBklyn.-Man......... 141,929 07J Principal of Bonds and Mortgages..... $26,033 33 Interest on Bonds and Mortgages...... 9,849 02 Dividends on Stocks.................. 89 58 35,971 93 Reimbursements (for Labor and Materials furnished} 463 066 97 by City Departments).......................... 4bo,0b. 9 Tapping-Water Connections...................... 38,220 00 Dock Fund-Miscellaneous Collections............... 98,985 49 Sundry Refunds and Transfers-Special and Trust) 438613 00 A ccounts......................................J Bridge Tolls "Brooklyn," "Williams-1 681133 2 burgh " and " Queensboro" Bridges.. f $ Rentals of Bridge Properties........... 90,322 69 771,456 21 19,427,040 79 Rents from other City Properties................... Franchises, Privileges, Licenses, Permits, etc.Franchises........................ $417,085 80 Privileges......................... 238,708 61 Licenses.......................... 373,019 81 Permits.......................... 179,286 80 3,517 25 1,208,101 02 7 DEPARTMENT OF FINANCE. E:XPENDITURES from January 1, 1910, to December 31, 1910. EXPENDITURES. Total Expenditures from Appropriation Accounts, from Special Revenue Bond Funds, from Corporate Stock and from Special and Trust Accounts, on Warrant basis. These represent Net Expenditures for Current Administrative Purposes and Outlays for Construction and Equipment, i. e., Betterments and Replacements. They are classified in significant and well-defined groups into which have been assembled all Expenditures and Outlays for account of departments or bureaus the functions or scope of which are generally akin. DEBT SERVICE, viz.: Redemption of the City DebtCorporate Stock, Water and Assessment Bonds................ $10,706,390 39 Revenue Bonds.................................. 208,175,410 40 $218,881,800 79 Amortization Installments paid into Sinking Funds............ 7,160,614 84 Interest on the City DebtCorporate Stock, etc....................................... $31,558,433 41 Revenue Bonds............................................ 3,703,834 31 Redemption of Revenue Bonds and Interest thereon (Transfer).. 168,500 00 $226,042,415 63 35,430,767 72 Administrative, i. e., General Administration..................................... Legislative (Board of Aldermen and City Clerk).................................... Judicial (all Courts and Judicial Offices).......................................... E ducational.................................................................. Health and Sanitation......................................................... Protection of Life and Property.................................................. Correctional Purposes......................................................... Oharitable Purposes........................................................... Streets, Highways and Bridges.................................................. Recreation, Science and Art (City Parks, Places and Museums)..................... Care and Maintenance of Public Buildings and Offices.............................. Board of Elections and County Canvassers....................................... Publication, Advertising, and Printing........................................ Taxes........................................................................ Reats....................................................................... 2,891,140 05 270,849 46 7,717,019 26 35,413,356 79 48,451,131 36 36,661,750 56 1,626,815 73 9,046,243 67 32,762,796 21 4,700,300 75 3,849,036 07 1,010,846 22 1,486,389 98 166,507 1, 998,798 66 8 - --- RECEIPTS-Continued. Total Revenue Receipts Brought forward................ Miscellaneous Receipts-Continued. Conscience Moneys............................... $1,405 47 Chamberlain's Commissions and Fees of County Officers 654,447 50 Fines, Penalties and Costs......................... 14,540 71 Forfeited M oneys................................. 30,542 07 Permits, etc., for Sale of Combustibles (to Veteran Fire-} 7,401 io m en's Ass'n)................................... 7,401 90 Sales of Real Estate (Public Service Comm.)........ 611,139 11 Sales of Old Buildings (Pub. Ser. Comm.). 15,541 60 Sales of Old Materials (Various Depts.). 254,786 94 270,328 54 Interest on Special Deposits........................ 3,202 91 Sundry Revenues................................. 66,611 60 Sundry Receipts, Subject to Refund, etc.: Intestate Estates..................... 14,149 92 Contract Payments in Suspense....... 52,949 80 Fines and Penalties................... 18,272 50 Surplus and Interest on Redemption of 598 72 Tax Sales....................... M iscellaneous........................ 1,345 80 Unclaimed Salaries, Jurors' Fees, War- 46,963 45 rants, etc....................... J $134,280 19 Labor, Materials, etc.-Inter se Reim- 104,989 86 bursements......................f 1 9 Franchises, Privileges and Rents payable 3,407 26 to Sinking Fund No. 1............J 3,4 2 6 242,677 31 Total Miscellaneous Revenue Receipts.......... $19,427,040 79 Proceeds of Debt Obligations. Bonds Sold to Public-(Par Value): Corporate Stock.................................. $50,000,000 00 Special Revenue Bonds, i. e., Bonds payable from} 7,064,625 00 succeeding Year's Tax Levy.................... Revenue Bonds (Par Value), issued in anticipation of, 203 18265 the Collection of Taxes of 1906-1910 Levies**...... 203,182,653 48 Bonds Purchased by Sinking Fund Commissioners: Corporate Stock..................... $13,021,795 77 General Fund Bonds................. 17,000,000 00 Assessment Bonds................... 1,000 00 Special Revenue Bonds.............. 200,000 00 Revenue Bonds*.................... 3,500,000 00 33,722,795 77 Total Face Value of All Bonds Issued.............. $293,970,074 25 $173,054,171 04. $12,586,026 60 Premiums on Bonds Sold to Public- } Corporate Stock................................ 637,922 89 -- ------- $294,607,997 14 Total Receipts from all Sources................................................... 467,662,168 18 Total.....................................................................$480,248,194 78 _ _-~ ~ ~ *Taxes of 1906....................... $5,425,000 00 *Taxes of 1909............... " "1907....................... 6,971,108 13 " " 1910. " " 1908....................... 7,425,000 00 Total.............. Appropriations Refunds $1,246,299.67 deducted from Receipts and Expenditures. ** Maximum borrowings at any time in anticipation of 1910 tax collections $90,761,443......... 22,852,262 32........ 164,009,298 08....... $206,682,653 48 ~:,- _ ~, 9 - --- EXPENDITURES-Contined. Pensions, Relief Fund, etc.................................................... Ceremonies, Celebrations and Memorial Day Observances......................... Docks and Ferries (Operation, Maintenance and Construction)..................... Rapid Transit (Administration and Construction).................................. Markets (Care and Maintenance of)........................................... Claims and Judgments........................................................ Refunds-Of Excise Taxes..................................... $474,376 63 Of Taxes paid in error................................ 484,657 46 Of Assessments paid in error......................... 28,893 41 Of Water Rents paid in error.......................... 29,101 53 Of Sheriff's Fees, Bail Moneys, etc.................... 87,520 91 Intestate Estates.................................... 5,802 61 $1,510,186 26 144,485 22 9,926,956 91 7,351,849 47 45,112 19 2,311,080 08 1,110,352 55 Miscellaneous, viz.: Payments of Obligations incurred prior to consolidationS, 154482 49 by various Boroughs............................f Unclaimed Salaries, Wages and Warrants................ 28,143 45 Sundry Payments from General Fund.................. 33,578 51 Angelina Crane Bequest.............................. 822 40 TOTAL EXPENDITURES-Basis of Warrants Outstanding 1909, drawn during 1910, less Warrants Cancelled and Appropriation Refunds........................................ Less Warrants Outstanding December 31, 1910................. City Treasury Inter se Transactions not Included in foregoing Statement of Expenditures or Receipts. Transfer to a Deficiency Ac- $4,000,000 00 provided in Budget of 1910 to cover count of............... uncollectible taxes of former levies. Redemption of Revenue 14,265,300 00 which was not a payment per se but merely Bonds and Interest a transfer to an account from which thereon............... $18,265,300 00 payments of the character indicated would be subsequently made. 217,026 85 $471,143,214 84 5,589,392 63 Net Expenditures on Warrant Basis.................................... Cash Balance —As at December 31, 1910, viz.: Moneys in various Depositories to they credit of the City Treasury.................................................. Total............................................................... $465,553,822 21 14,694,372 57 $480,248,194 78 10 THE CITY OF NEW YORKSUMMARY of SINKING FUND RECEIPTS and RECEIPTS. Cash Balance as at January 1, 1910: Moneys in various Depositories to the credit of the Sinking Funds............................................................... From Installments Levied, viz.: City of New York, General....................... $4,917,486 19 is" " Water Bonds.................. 1,264,193 67 de t" as constituted prior to January 1, 1898................... 579,224 60 City of Brooklyn, as constituted prior to January 1, 1898....................................... 397,593 71 Long Island City............................... 2,116 67 $7,160,614 84 Redemption of Bonds held by Sinking Funds, viz.: $5,439,576 29 Corporate Stock.................................... $30,000 00 Assessment Bonds................................. 3,671,000 00 Revenue Bonds.................................... 3,500,000 00 Revenue from Investments.............................. $7,196,172 33 Interest on Deposits.................................... 663,874 79 From Water Revenue-Borough of Brooklyn.............. $723,052 32 Water Rates (Croton)..................... $9,090,203 47 Penalties "..................... 36,308 21 9,126,511 68 Assessments (Special)................................... $58,580 92 Interest thereon........................................ 2,703 79 Dock and Slip Rents............... $4,115,601 75 Ferry Rents and Leases.................... 247,912 77 $4,363,514 52 Municipal Ferry Rents, Fares and Privileges................ 942,596 10 Viz.: Staten Island Ferry, Fares...................... $704,148 30 Privileges...... $751,287 28 47,138 98 Thirty-ninth Street Ferry, Fares...................... $186,770 38 4".." " Privileges...... $191,308 82 4,538 44 Rents from other City Properties....................................... Rapid Transit Rentals: Paid by Interboro Railway Co. towards Man.-Bronx. $452,284 04 Redemption of Subway Bonds, viz.:.... fBklyn.-Man. 37,595 65 7,201,000 00 7,860,047 12 9,849,564 00 61,284 71 5,306,110 62 468,257 16 489,879 69 Franchises............................................. $508,812 53 Privileges.............................................. 371,154 72 Licenses............................................... 210,115 19 1,090,082 44 Fees, Fines, Penalties and Costs........................................ 502,810 81 Sales of Real Estate................................................... 22,424 39 Principal of Bonds and Mortages........................ $8,657 50 Interest tn "........................ 2,989 02 11,646 52 Forfeited Security Deposits............................................. 225 00 Total Receipts to Sinking Fund.......................................... 40,023,947 30 Inter-se transactions Transfers and Receipts to one Sinking Fund from another: To Sinking Fund No. 1, transfer of Surplus revenue of Sinking Fund for Payment of Interest, contra............(b) $9,000,000 00 To Sinking Fund of Long Island City for Redemption of Revenue Bonds, from Sinking Fund of City of Brooklyn, contra........................................... (c) 55,516 37 To Sinking Fund Redemption No. 1, from Sininng Fund, City of New York.......................................(e) 1,013,250 00 To Sinking Fund, City of New York, from Sinking Fund, Long Island City for Redemption of Revenue Bonds, Transfer of Surplus Revenue, contra............... (d) 2,061 09 $10,070,827 46 Total.................................................................. $45,46g,523 6 9 (c) Represents purchase by Sinking Fund City of Brooklyn, of Bonds held by Sinking Fund of Long Island City for Redemption of Revenue Bonds; and purchases by Sinking Fund Oity of New York, of Bonds held by Sinking Fund foe Redemption, No. 1. 11 DEPARTMENT OF FINANCE. PAYMENTS from January 1, 1910, to December 31, 1910. PAYMENTS. Interest on City Debt-(paid on Sinking Fund holdings).................... $1,391,006 40 Bonds Redeemed from Public and Cancelled............... 6,730,900 00 Investments in New York City Bonds: General Fund Bonds................................* $17,000,000 00 (*Represents Investment of Sinking Fund surplus revenue). Corporate Stock................................ (a) 13,021,795 77 Assessment Bonds.................................. 1,000 00 Revenue Bonds.................................... 3,500,000 00 Special Revenue Bonds............................ 200 000 00 33,722,795 77 Payments, pursuant to law, to Sundry Beneficiary Societies from the Amounts of Fines imposed and Collected by the Courts of General and Special Sessions.............................................. 24,066 00 Refund of Forfeited Security Deposit................................... 2,000 00 Refunds of Revenues to correct Overcharges and Errors.................... 36,414 61 Total payments by Sinking Funds........................................ $41,907,782 78 Comparative Summary: Dec. 31, 1910. Cash Balance*.......... $3,555,740 81 Investments Held.......... 256,640,289 61 $260,196,030 42 Dec. 31, 1909. Cash Balance....... $5,439,576 29 Investments Held........ 232,368,059 96 237,807,636 25 Increase...... $22,388,394 17 Inter-se transactions. Transfers and Payments from one Sinking Fund to another. Surplus revenue of Sinking Fund for Payment of Interest, to Sinking Fund, No. 1, contra.......................... (b) $9,000,000 00 Sinking Fund of City of Brooklyn to Sinking Fund, L. I. C. S. F. for Redemption of Revenue Bonds: Purchase of Corporate Stock..................... $36,000 00 And Interest from November 1, 1909, to April 16, 1910....................................... 495 00 $36,495 00 Purchase of Corporate Stock..................... $19,000 00 And Interest from April 7, 1910, to April 16, 1910.. 21 37 19,021 37 (c) $55,516 37 From Sinking Fund City of New York, to Sinking Fund No. 1: Purchase of Corporate Stock......................... $1,000.000 00 And Interest from May 1, 1910, o Octo ber 10, 1910.... 13,250 00(e) 1,013.250 00 Surplus Revenue of Sinking Fund of L. I. C. for Redemption of Revenue Bonds, to Sinking Fund, City of New York, contra....................(d) 2,061 09 $10,070,827 46 Cash Balane in Sinking Fund, as at Deeember 31, 1910........................... 3,655,740 81 Total................................................................ $45,468,528 69 (a) Represents Investments in Corporate Stock, viz.: onstMructlon of Rapid Transit Railroad...... $213,012 10 Various Municipal Purposes.......... 2,345.558 67 To provide for Supply of Water....... 10,463,225 00 $13,021,795 77 12 COMPARATIVE SUMMARY of NET CASH RECEIPTS and PAYMENTS of compilation of All Amounts YEAR 1909. RECEIPTS. YEAR 1910. $117,369,214 87 9,075,795 89 11,784,693 37 29,348,595 28 $167,578,299 41 $62,500,000 00 5,208,150 00 122,352,790 00 490,832 84 $190,551,772 84 $168,490.759 616,393 63 116,196 13 *$901,080 35 $359,031,152 60 27,780,375 42 $386,811,628 02 0,111 Taxes Collected.................................. Assessments Collected............................. Water Rates and Penalties Collected................ Miscellaneous Revenue Collected................... Corporate Stock and Assessment Bonds-Sold to Public....................................... Special Revenue Bonds-Sold to Public............. Revenue Bonds-Sold to Public................... Premiums on Corporate Stock-Sold to Public....... SUNDRIES. Interest on Deposits of Sinking Fund Moneys....... Interest on Deposits of City Treasury Moneys....... Appropriation Accounts, Cash Refunds; (a) $502,541 36 in 1909; $1,246,299 67 in 1910, Miscellaneous Receipts subject to Refund........... Total Net Cash Receipts during the Year........... Opening Balance at January 1 of each Year................................ Totals...................... $133,590,618 96 11,527,556 55 13,965,627 92 31,358,272 73 $50,000,000 00 7,064,625 00 203,182,653 48 637,922 89 $129,485 91 537,591 79 134,280 19 $190,442,076 16 260,885,201 37 801,357 89 $452,128,635 42 18,025,602 89 $470,164,288 81 4 (a) Appropriation Refunds, 1909 and 1910, deducted from Receipts and Expenditures. 13 THE CITY of NEW YORK during the YEARS 1909 and 1910, as arrived at by actually RECEIVED and PAID. YEAR 1909. PAYMENTS. YEAR 1910. -....... $95,350 85 Taxes............................................ $9,665,227 79 92,814,053 13 4,945,555 45 $107,424,836 37 77,681,782 98 $185,201,970 20 $28,291,597 53 3,538,956 49 2,006,916 67 1,450,807 86 $35,288,278 55 6,474,214 74 $28,814,063 81 $14,474,915 15 141,092,100 00 $155,567,015 15 2,025,500 00 $158.541,515 15 $31,147 00 43,430 14 1,140,815 40 12,983 43 $1,228,375 97 $368,785,925 13 18,025,602 89 $886,811,528 02 Expenses of the City Government: Paid from Appropriation Accounts: For Prior Years................ For Current Years.............. Paid from Special Revenue Bonds $16,547,139 45 97,428,014 60 7,066,379 63........._ Outlay for Public Improvements and Equipment..... Interest on the City Debt Paid by Appropriations and by Special Revenue Bonds..................... Interest on the City Debt Paid by Special and Trust Accounts.................................... Interest on the City Debt Paid by General Fund..... Interest on the City Debt Paid by Sinking Funds.... Less Interest on City Debt held by Sinking Funds.... Redemption of the City Debt...................... Redemption of Revenue Bonds.................... Less Sinking Fund Holdings Redeemed by City Treasury.................................... SUNDRIES. Payment of Sinking Fund Revenues to Sundry Beneficiary Societies.............................. Refunds of Sinking Fund Revenues................. Refunds of Taxes, Assessments, Water Rents, etc.... Refunds of General Fund Revenues.... $11,056 25 19,115 00 $326 40 Total Net Cash Payments during each Year........ Closing Balance at December 31 of each Year............................. Totals. $166,147 18 121,041,533 68 81,579,838 42 $30,784,578 73 1,838,423 99 2,632,187 50 1,391,606 40 $36,646,796 62 7,196,172 33 $17,335,290 39 208,173,410 40 $225,508,700 79 7,201,000 00 $24,066 00 38,414 61 1,265,955 11 29,844 85 $202,787,519 28 29,450,624 29 218,307,700 79 1,358,280 57 $451,904,124 93 18,250,113 38 $470,164,388 81...........00000...OO........... I 14 GENERAL TABLE-Grouping the BUDGET APPROPRIATIONS for 1910 according to the Genera December 31, 1910, together with the Unexpended Balances, as at ADJUSTED BY Pk ~~~~~~~~~~~~~TRANSFERS ]BY 0 FimonoNAL G~oups. APPROPRIATIONS3 BOARD OF WARRANTS 04 z FNTOA RUS FOR 1910. EST. AND APPTNMT. REGISTERED. PLUS OR MINUS. 1 2 3 4 5 8 7 8 9 10 11 12 1s 14 1& 18 17 Dzw Szivicn: Interest on the City Debt....... Interet on Revenue Bonds....... Total Interest Appropriations andy Payments........... Redemption of the City Debt...... Redemption of Special Revenue Bonds.. Installments to provide for Ultimate' Redemption of City Debt paid into Sinking Funds........... Total Redemptions andt Instal.1mentJ to Sinking Funds........ Total-Debt Servioee.... ADmINISTRATIvE, i. e., General Admuinistra-, tion................ LEGISLATIVE-Board of Aldermen and City"k Clerk................. JUDICIAL................ EDUCATIONAL.............. HECALTH ANWD SANITATION........ PROTECTION OF LIFE AND PROPERTY.... CORRECTIONAL PURPOSES......... CHIARrrABLZ PURPOSE-S......... STREETS, HIGHWAYS AND B3IIIDGES (Caret and Maintenance)........... RECREATION, SCIENCE AND ARTS: (a) Parks, Parkways and Drives.... (b) Zoological and Botanical Gardens,. Museums, Music, etc..........1 PUBLIC BUILDINGS AND OFFICEs (Care and\ Maintenance)........... BOARD OF ELECTIONS and County Can-~ vassers............... PUBLICATION, ADvERTISING AND PRINTING. TAxzs, RENTS, PENSION AND RE LIZF' FUNDS, ETC............. PUBLIC ENTERPRISES (Docks, Ferries and Municipal Ferries)..f....... To PROVIDE FOR DEFICIENCIES IN CoL2 LUOTONS OF PRIOR YRARS TAx LEVIES. TOTAL.............. $27,178,760 49 M 5,000,000 00 M $1,500 00 10,000 00 I $32,178,760 49 $1,604,320 39 5,500,000 00 I M $11,500 00 ~.... 3,864,817 19 $30,699,056 80 $1,604,320 39 5,208,150 00 7,160,814 84 i i i i I I I 7,160,614 84 $14,264,935 23 1 M $35,000 00 $13,973,085 23 $46,443,695 72 M $46,500 00 $44,672,142 12 2,895,105 00 P 48,625 00 2,716,347 65 261,406 00.......... 260,918 85 7,523,733 34.......... 6,930,821 61 30,848,196 16 M 1,933 33 27,947,084 10 16,922,937 79 P 34,812 13 15,676,187 52 28,516,390 28 P 52,531 25 25,536,816 29 1,335,241 00........... 1,098,828 58 7,588,971 42 P 4,752 00 6,196,788 41 4,786,790 44 M 70,257 67 4,215,955 83 2,369,731 13 P 508 00 2,057,873 94 1,0071,482 64 P 40,552 00 868,582 37 1,396,477 45 P 15,917 29 1,112,471 96 1,064,100 00..........925,025 73 1,745,700 00..........988,095 48 1,684,72,4 00 P 7, 5 53 33 9 1,483,493 09 2,737,588 00 M 86,560 00 1,998,816 22 4,000,000 00.......... 4,000,000 00 $163,128,270 8 $1S68,495 $162pI289270 97 $14S96S69249 65 I I 15 Function or purpose of Department, Bureau, etc., and showing the NET EXPENDITURES therefrom t December 31, 1910, also the payment by the Chamberlain during 1910. PAYMENTS BY AMOUNT OF L86S NET UNEXPENDED CHAMBERLAIN TO WARRANTS EXPENDITURES BALANCE DECEMBER 31, 1910. OUTSTANDIIX WARRANTS CASH ON DECEMBER 31, CMBER 1 CANCELED. REFUNDS. WARRANT BASIS. 1910. (DEDUCTING CASE DE 1, CANCELED. RzFUNDS. W ARRANT HABIS~v REFUNDS.)........... $17,019 29 $26,817,220 41 $360,040 08 $26,817,220 41........... 3,216 55 3,861,600 64 1,128,399 36 3,861,523 14 $77 60........... $20,235 84 $30,678,821 05 $1,488,439 44 $30,678,743 55 $77 50........................ $1,604,320 39............... $1,602,320 39 $2,000 00........................ 5,208,150 00 $256,850 00 5,108,150 00 100,000 00........................ 7,160,614 84.......... 7,160,614 84............................. $13,973,085 23 $256,850 00 $13,871,085 23 $102,000 00............$20,235 84 $44,651,906 28 $1,745,289 44 $44,549,828 78 $102,077 60 $122 23 1,153 28 2,715,072 14 228,657 86 2,695,427 55 19,644 59........................ 260,918 85 487 15 260,918 85 1,646 83 4,144 45 6,925,030 33 598,703 01 6,833,603 63 91,426 70 23,930 49 222,392 80 27,700,760 81 3,145,502 02 27,485,740 84 215,019 97 334 02 845,200 01 14,830,653 49 2,127,096 43 14,501,910 00 328,743 49 10,932 01 3,718 00 25,522,166 28 3,046,755 25 25,122,293 31 399,872 97........... 55 77 1,098,772 81 236,468 19 1,073,944 55 24,828 26 627 64 1,162 99 6,194,997 78 1,398,725 64 6,054,071 17 140,926 61 27 50 30,506 21 4,185,421 92 531,110 85 4,127,668 42 57,753 50........... 4 00 2,057,869 94 312,369 19 2,048,839 03 9,030 91........................ 868,582 37 179,452 27 859,174 93 9,407 44 4 00 517 66 1,111,950 30 300,444 44 1,091,772 42 20,177 88 211 13............. 924,814 60 139,285 40 923,235 58 1,579-02 266 50 304 00 987,524 98 758,175 02 975,514 79 12,010 19 1,972 22 1,794 14 1,479,726 73 212,550 60 1,413,222 05 66,504 68........... 5,061 65 1,993,754 57 657,273 43 1,984,992 26 8,762 31........................ 4,000,000 00............... 4,000,000 00 $40,074 67 $1,136,250 80 $147,509,924 18 $16,618,346 19 $146,002,158 16 $1,507,76 02 s~~~~~~~~~~~~~~~1677.O. 16 GENERAL COMPARATIVE TABLE, A-Grouping the BUDGET APPROPRIATIONS for 1909, 1910, also showing the RELATIVE PERCENTAGES which each GROUP TOTAL bears to the TOTAL PER CENTUX GitoupNG or PPROPRATIONSBUDGET OF OF EACH 1909 BUDGET OF GROUPDING ToF APPROPRIAFNTIONS 1909. GROUP PER 1910. ACODNOR GENPOERA ucTo TOTAL CAPITA OR PURPOSE. ~~~GROUP TOTALS. TO COST. GRtOUP TOTALS. BUDGET TOTAL. I I I '2 8 4 S 6 7 8 9 10 11 12 13 14 15 16 DEBT SERVICE: Interest on the City Debt........... Redemption and Amortization of the City Redemption of Special Revenue Bonds.... Total Appropriations for Redemption of Debt aod for Payment of interest on Debt ADxMIISTRATIVE, I1. E., General Administration........ LEGISLATIVE.......................... JUDICIAL............................ EDUCA&TIONAL (~)....................... HEALTH AND SANITATION................... PROTECTION OF LIFE AND PROPERTY............. CORRECTIONAL PURPOSES................... CHARITABLEK PURPOSES.................... STREETS, HIGHWAYS AND BRIDGES (Care and Maintenance of). REtClREATION, SCIENCE AND ART, Viz.: City Parks, Places and Museunms-4 -(a) Parks, Parkways and Drives............. (b) Zoological and Botanical Gardens, Mosnums, etc.. PUBLIC BUILDINGS AND OFFICES (Care and Maintenance of).. BOARD OF ELECTIONS AND COUNTY CANVASSERS....... PUBLICATION, ADVERTISING AND PRINTING.......... TAxES; RENTS; PENSION AND RELIEF FUNDS, ETC...... PUBLIC EKeTEisIRisis (Docks and Municipal Ferries)...... Totals of Budget Appropriations, per se........ Net Increaee*-1910 over 1909, and 1911 over 1910........ To PROVIDE 'FOR DEFICIENCIES IN THE COLLECTION oF TAXES GRAND TOTALS..................... $29,671,070 13 8,190,008 20 9,362,000 00 $47,223,078 33 2,807,170 00 260,406 00 7,241,021 89 29,603,603 09 15,961,0574 99 27,999,603 51 1,336,3574 50 7,453,445 98 4,850,137 41 2,353,532 95 904,239 38 1,404,356 78 1,021,830 00 1,835,650 00 1,367,210 25 $153,622,701 06 2,922,447 08 $156,545,148 14 I I I - I 19.314% 5.331% 6.094% 30.739% 1.827%.170% 4.713% 19.270% 10.390% 18.226%.871% 4.852% 3.157% 1.532%. 589%.912%.667% 1. 195%.890% $6 46 1 78 2 04 $10 28 61 06 1 58 6 45 3 48 6 10 29 1 62 1 06 51 20 31 22 40 29 I $32,178,760 49 8, 764,935 23 5,500,000 00 $46,443,695 72 2,895,105 00 261,406 00 7,52.3,733 34 30,848,196 16 16,922,937 79 28,516,390 28 1,335,241 00 7,588,971 42 4,786,790 44 2,369,731 13 1,007,482 64 1,396,477 45 1,064,100 00 1,745,700 00 1,684,724 00 2,737,588 00 $159,128,270 37 4,000,000 00 $168,128,270 37 II' 7 100% 1$33 46 I I I I I ()Educational-includes $8,797 In 1909; $89,226 in 1910; and $64,930 in 1911 for Rents, Department of Education purposes. N..-The Total Appropriations for Debt Service; Educational Purposes; Health'andf Sanitation; Protection of Life and Property and for Charitable Purposes amounted in 1909 to $128,240,788.90, or 88.48 per cent. of the total Budget Appropriations for said year; in 1910 to $130,390,191 37 or 81.90 per cent, of the year's appropriations; and in 1911 appropriations for these purposes aggregate $135,341,551.15, or 82.54 per cent. of thie total appropriations for that year The City's population as estimated by the B9oard. of Health at mild-period of 1909 was 4,590,950. The United States Census of 1910 gives the City's population as 4,766,888. The estimated population at mid-period of 1911, by the Health Department's ratio of progression,, Mould give 4,983,385. *-Indicate Decreases. 17 and 1911 according to the GENERAL FUNCTION'or PURPOSE of DEPARTMENT, BUREAU, etc.; BUDGET APPROPRIATIONS, together with the INCREASES of 1910 over 1909, and of 1911 over 1910. PERt PER CENTUM CNU OF EACH 1910 INCREASE OF PER CUGTO FENTU 191 INCREASE Of PER GROUP PER 1910 CENTUM UGTO 0 AH 11 1911 CENTUX GROUP PER GROUP TOTALS OF IN- 1911. GROUP PER GROUP TOTALS or INTOTAL CAPITA OVRTOS F CRAETOTAL CAPITA OE HS F CES TO COST. OVETOS OF HCREASE GROUP TOTALS. TO COST. OVERTHOS O THCREASE BUDGET 199 HRO.BUDGET 11. TEEF TOTAL. TOTAL. 20.222% 5.508% 3.456% $6 75 1 84 1 15 $2,507,690 36 574,927 03 *3,862,000 00 8.452% 7.020% * 41.252% 29.186% 1.819%.164% 4.728% 19.386% 10.636% 17.920%.839% 4.769% 3.008% 1.489%.633%.879%.668% 1.097% 1.059% 1.720% $9 74 62 06 1 58 6 46 3 55 5 98 28 1 59 1 00 50 21 29 22 37 36 58 *$779,382 61 87,935 00 1,000 00 282,711 45 1,244,593 07 961,879 80 516,786 7 7 *1,116 50 135,525 44 *63,346 97 *1.654% 3. 132%.384% 3.960% 4.204% 6.026% 1.845% *.008% 1.815% *1. 306% I $34,214,137 09 9,113,559 90 7,334,125 00 20.866% 5.368% 4.473% $6 87 1 83 1 47 $2,0355,376 60 348,624 67 1,834,125 00 6.36 3.9% 88.848% $50,661,821 99 2,804,079 00 279,652 00 7,87 6,021 50 31,355,065 73 16,255,724 49 2.9,166,135 78 1,329,124 50 7,902,803 16 4,663,277 60 2,226,128 85 1,024,151 14 1,334,911 30 1,063,250 00 1,441,320 00 1,928,652 37 2,655,715 75 30.897% 1 $10 17 1 $4,218,126 27 I- 9.082% 1. 711%.171% 4.803% 19.123%. 9.913% 17.788%.811% 4.819% 2.844%9 1.336%.625%.813%.648%.879% 1. 177% 1.620% b6 06 1 58 629 326 5 85 27 1 59 94 44 20 27 21 29 39 53 *91,026 00 18,246 00 352,288 16 506,869 57 *667,213 30 649,745 50 *6,116 50 313,831 74 *123,512 84 *143,602 28 16,668 50 *61,566 15 *850 00 *304,380 00 243,928 37 *81,872 25 *3. 144% 6.98VW 4.682% 1.643% *3.943 2.279% *0.458 4.129% *2.580% *6 060% 1.654% *4.409% *17436% 14.478% *2.991% 1 4 5.1 6 7 8 9 10 11 a 16,198 18.688% 103,243 26 11.359% *7,879 33 *.561% 42,270 00 4.137% *89,950 00 *4.900% 317,513 75 23.223% 2,737,588 00... $9,529,862 11 Gross Incr. 4,024,292 80 Less Decr. 100% 1 $33 39 $5,505,369 31... $6,319,704 11 Gross Iner. 1,480,139 32 Less Decr. i $4,839,564 79 $163,967,835 16 10,000,000 00 S178,967,885 16 100% $32,90 I NOTE.-Of the Net Increase of $5,505,569.31 in the 1910 Appropriations over 1909, $2,858785.08, or 51.93% was for Educational, Health and Sanitation Protection of Life and Property, and Charitable Purposes combined; and $2,787,588 was for Docks and Ferries which had no counterpart in the appropriations for 190. Of the Net Increase of $4.839 564 79 mn the 1911 Appropriations over 1910, $384,001, or 49%, was for Interest on and Redemption of long term Bonds; $'2,066,662, or 42.7%, was for Judicial and Etucatlonial Purposes; Protection of Life and Property Charitable Purposes and for Taxes and Rents. 18 STATEMENT.-Re TAX LEVY of 1910; SHOWING COLLECTIONS THEREON from OCTOBER 3 to RETURNS from COLLECTING OFFICERS PART 1.-Classification According to Boroughs. TAX LEVY, COLLECTIONS, CANCELLATIONS AND DEDUCTIONS Year in which Collections were made. Total 1910 Levy. Correctional Additions. Total Collections. Less OverPayments. $1,230 52 46,218 15 Net Collections of 1910 Tax Levy. $71,876,681 19 7,589,311 34 Manhattan........... Borough Collections, to June 30, 1911.. J The Bronx............ Borough Collections. to June 30, 1911.I Brooklyn............ Borough Collections to June 30, 1911.. J Queens............................. Borough Collections to June 30, 1911.. Richmond........................ Borough Collections to June 30, 1911.. Total Collections, Oct. 3, 1910, to Dec.31'10 Total Collections,Jan. 1 1911, to June 30, '11 Grand Totals...... 1910 1911 1910 1911 1910 1911 1910 1911.... 1910 1911.... $88,631,838 91............ $88,631,838 91....... $71877,911 71 $7,300 49 7,585,529 49 $7,300 49,579,463,441 20 1 $47,448 67 $79,415,992 53 $8,815,118 75....... $6,355,947 20.. $6,355,947 20....................... 953,664 25 $5,411 73 948,252 52 $8,815,118 75....... $7,309,611 45 $5,411 73 $7,304,199 72 $26,558,349 74..... $18,681,161 86 $18,681,161 86..................... _3,151,216 15 $35,074 59 3,116,141 56 $26,558,349 74.......$21,832,378 01 $35,074 59 $21,797,303 42 $6,154,707 40 $4,152,870 39........ $4.152,870 39............ $73 76 716,744 24 $9,684 06 707.060 18 $6,154,707 40 $73 76 $4,869,614 63 $9,684 06 $4,859,930 57 $1,:314,755 12..... $893,308 06 $239 98 $893,068 08.....................98,493 43 81 88 98,411 &5 $1,314,755 12....... $991,801 49 $321 86 $991,479 63.............................. $101,959,728 72 ****..........................................12,409,177 15 1 S13,474,769 9a $7,374 25 $114,466,846 78 $97,940 91 $114,368,905 87 PART II.-Classified According to General Character of Property. Real Estate-..................... Total Collections I to June 30, 1911J Special Franchises..... Total Collections 1 to June 30, 1911J Real Estate of Corpo-/| rations............ Total Collections ) to June 30, 1911I Personal Property..... Total Collections l to June 30, 1911J Total Collections, Oct.I 3,1910,to Dec.31, '10 Total Collections,Jan. 1 1911, to June 30, '11I Grand Totals......... I I I Year in which Collections were made. 1910 1911 1910 1911 1910 1911 1910 1911 Total 1910 Levy. $115,080,167 28............ Correctional Additions. Total Collections. Less Net Collections of 1910 Tax Levy........ $92,975,927 57 $1,470 50 $92,974,457 07 $6,437 28 12,090,495 26 95,793 26 11,994,702 00 $115,080,167 28 $6,437 28 $105,066,422 8 3 76 $104,969,159 07 $8,249,097 11....... $3,537,340 36........ $3,537,340 36................... 212,232 61........ 212,232 61 $8,249,097 11....... $3,749,572 97........ $3,749,572 97 $1,555,696 39....... $1,094,974 96 $........ 1,094,974 96............ $936 97 287 71........ 287 71 $1,555,696 39 $936 97 $1,095,262 67 $........ 1,095,262 67 $6,589,809 14....... $4,352,956 33 $4,352,956:33.................. 202,631 98 $677 15 201,954 83 $6,589,809 14....... $4,555,588 31 $677 15 $4,554,911 16................................................. $101,959,728 72 l.................... l....... l.......... l............ 12,409,177 15 $131,474,769 92 $7,374 256 $114,466,846 78 $97,940 91 $114,368,905 87 From the Foregoing Table and the Statistical Percentages Deduced Therefrom the Following Interesting Re PART I. (a) The taxes levied on real and personal property within the Borough of Manhattan constituted 67.41 per cent. of the total tax of 1910, while in the next largest Borough, viz., Brooklyn, the tax levy amounted to 20.20 per cent. of the whole, the other three Boroughs contributing, in the respective percentages stated, the remaining 12.39 per cent. of the total levy. (b) The collections of the 1910 tax levy began on Monday, October 3, and of the aggregate amount collected from said date up to June 30, 1911, inclusive, property owners in the Borough of Manhattan paid 69.43 per cent. of the collections during said period and property owners in the Borough of Brooklyn paid 19.06 per cent. of the amount collected, the other Boroughs paying the respective percentages stated in the table. (c) From the figures stated in column (c) may be noted the relative percentages which the collections within each Borough bore to the tax levy within such Borough; to illustrate: the collections in the Borough of Manhattan amounted to 89.61 per cent. of the total levy in said Borough; in the Bronx to 82.86 per cent. of the total levy in said Borough; in Brooklyn 82.07 per cent.; in Richmond 86.99 per cent., and in Queens 78.96 per cent. of the respective levin in said Boroughs. 19 DECEMBER 31, 1910; also from JANUARY 1, 1911, to JUNE 30, 1911, INCLUSIVE-BASED ON and CORRECTIONS THEREOF STATISTICAL TABL3U. UNDER SEC. 48 OF THEc TAX LAW, UP TO JUNEm 30, 1911. __________________________________________PERCENTAGES OF Borough Borough Borough Out- Ded'tions Deductions Uncollected Levy Collections Collections standing under Cancellations Correctional under Taxes to to to Am'ts to Sec. 48 to Deductions. Sec. 48 of the as at Total Net Borough Borough Borough Tax Law. June 30, 1911. Levy. Collections Levy. Levy. Levy. ____ ____~~ _____ (a) (b) (c) _ _ _ _ _ _ $65,432 15 $57,055 66 170.50 81.10 47,081 45 $10,82 59...9,0..71.. 60.76 8.51 $112,513 60 $10,862.59 $57,055 66 $9,04.2,715 02 67.41 69.43 89.61 10.20.06 + $1,124 11 ~~~~~$175 79 6.23 72.10 -___ ____ 1,395 30 $1246. $1..08,031 37... 7.64 10.76 ____ ___ $2,519 41 $192 46 $175 79 $1,503,031 37 6.71 6.39 82.86 17.11.002 51,996 07........: 32 710 07......18.32 70.34 5___996 _ 07 _...._I_____.. $4,41.5 1 25.11 11.73 _ _ _ _ _ _ _ _ $17,685 06.....$324,710 07 $4,418,651 19 20.20 19.06 82.07 f*16.63 1.22 + $307 82.. $9,726 37. 4.07 67.47 4,747 82 $9745.1,279,011 5.0 1.9 $5,055 64 $977 45.....$41,279,091 1.1 4.68 42Sf 78.96 20.78.16 $1,374 35............88 67.93 97 59..... $821i,803 55....79 7.48 ____ __ $1,471 94.......... $821,80.3 55 1.00.87 75.41 24.48................................Average 77.55...................I Average 9.44 $1319,245 65 $112,032 60 $391,667 91 $16,570,292 24 100% Averages. 86.99k 12.60 Deductions Uncollected ey Collections!Collections sadn ne Cancellations Correctional under Taxes to to to' Am'ts to Sec. 48 to Deductions. Sec. 48 of the as at Total Net Specific Specific Specific Tax Law. June 30, 1911. Levy. Collections Levy. Levy. Levy. _______ ____ ____ ~~~ ~ ~~(a) (b) (C) $55,908 80 91.19 80.78 37,896 11 $11,972-a 74. $10,011,6'67 84.... 10.48 96.66 $903,804 91 $11,972 74......$10,011,667 84 87.53 91.77 91.21 8.70 $391,667 91....j 3.47 42.88 4.74 $2,471 62 $59 76 $4....,10 5,31248.....19 1.71 __ __ $2,47-1 62 $59 76 $391,667 91 $4,105,324 85 6.28 3.28 45.45 49.76-. 71~~~................1.07 70.38......... ~~~~$461,370 69.02.00 +..........1..*461,370 69 1.18.97 70.40 29.66 $24,018 62.....................4.27 66.05 18,950 50........... $1 f,991928 8.18 1.63 ____ $42,969 12........... $1,991,928 86 5.01 3.98 69.12 30.23................................ Average 77.55................................Average 9.44 $139,245 05 $12,032, 60 $391,667 91 $16,570,29-2 24 100% Averages 86.99 12.60 Facts Relative to the 1910 Tax Levy and the First Nine Months' Collections Thereon May be Note: Re PART II. (a) The amount of taxes levied against real estate, i. e., lands and buildings, aggregated 87.53 per cent, of the total levy of 1910; the special franchise tax 6.28 per cent., Real Estate of Corporations (which is a form of the special franchise tax) constituted 1.18 per cent., and the tax against personal property was 5.01 per cent. of the total tax levy. From the percentages stated in the two columns (A and B) it may be noted that the payment of taxes on lands and buildings constituted relatively a very much larger percentage of the total collections than the percentum which the lev on such property bore to the total tax levy, while the payments from Speial franchise taxes and the indred tax, viz., real estate of corporations, constituted a relativelysml percentage of the amount which such bore to the total levy. (C From the figures stated in column (c) may be noted the relative percentages which the specific collections bore to the specific levies; to illustrate: the collections of taxes on real estate amounted to 91.21 per cent, of the total levy against real estate, i. e., lands and buildings, while the collections of special franchise taxes only amounted to 45.45 per cent of the total tax levy against special franchises. The collections of personal property taxes amounted to 69.12 per cent. of the total tax levy against personal property. TABLE of ASSESSMENTS LEVIED during the YEAR 1910, CLASSIFIED as to BOROUGHS, FUNDS CREDITED, Etc. BOROUGHS oF CLASSIFICATION. TOTALS. -- T CiTY or NEw YoRx. MANHATTAN. THE BRONX. BROOKLYN. QU SCNB. RICHMOND. Street Improvement Fund-W $8,081,085 74 $627,732 82 $2,613,634 44 $2,719,479 59 $1,560,788 53 $559,450 36............ "After................. Fund for Street and Park OPen-1 4,268,101 96 2,021,120 38 971,528 66 754,531 34 511,668 65 4,25 93............ nge..................... Special Aseamments........... 226,776 28........................ 192,336 95 34,439 33........................ ReI toring Pavements 4724..........2............................... Total chargeable againSt} 7 $12,9 $2,649,577 41 $3,585,163 10 $3,666,347 88 $2,106,896 51 $563,706 29 property...........i Deficiencies: (a) Chargeable to The City 2,183,374 96................................................ $2,183,374 96 of New York..... (b) Directly charged against l 543,542 13............................................................ 543,542 13 City Property........ ______________ _ $15,298,608 28 $2,649,577 41 $3,585,163 10 $3,666,347 88 $2,106,896 51 $563,706 29 $2,726,917 09 GENERAL CLASSIFICATION of ASSESSMENTS affecting the ACCOUNT known as "STREET IMPROVEMENT FUNDWORKS CONTRACTED for AFTER JANUARY 1, 1898." REGULATING, SWERS AND FLAGGING, BOROUGHS. TOTALS. R G ATID RECEIVING FENCING LOTS. R^DEALKSN CURBING. INS. CROSSWALKS. M anhattan.......................................... $627,732 S2 $447,732 84 $174,191 73............. $5,808 25 The Bronx............................................ 2,613,634 44 1,690,024 12 921,365 05 $311 54 1,933 73 Brooklyn............................................. 2,719,479 59 1,238,299 09 1,440,200 68 4,210 32 36,769 50 Queens............................................... 1,560,788 53 815,675 89 736,505 49.............. 8,607 15 Richmond............................................ 559,450 36 87,385 73 464,572 09.............. 7,492 54 $8,081,085 74 $4,279,117 67 $3,736,835 04 $4,521 86 $60,611 17 0 TABLE of ASSESSMENTS LEVIED from JANUARY 1, 1911, to JUNE 30, 1911, Classified as to BOROUGHS, FUNDS CREDITED, Etc. CLASSIFICATION. TOTALS. Maw__ _ B-OROUGH S OF| TB CITY OF I MANHATTAN. THE BRONX. BROOKLYN. QUEENS. RICHMOND. YO (A) Street Improvement Fund-, (A) Stre.mprovement F $3,500,073 35* I $156,034 22 $1,975,806 70 $1,057,875 58 $188,952 51 $121,404 34*............ Fund for Street and Park Openings 1.967,249 50 1,127,546 51 462,695 05 141,376 01 234,881 03 750 90........... Special Assessments: Restoring Pave-' ments, ~391 of the Charter, [ 4,352 80 4,352 80 account of Local ImprovementsJ. Late Town of New Utrecht Install-, [ ment Assessment, Chap 582, [ 10,000 00............ 10,000 00 Laws 1893..................... Total chargeable against property $5,481,675 65 $1,287,933 53 $2,438,501 75 $1,209,251 59 $423,833 54 $122,155 24 Deficiencies: I (b) Chargeable to the City of New York: Street Improvement Fund — "After"............... 114997 09............ $1,149,975 09 Fund for Street and Park 7, 15 Openings................................................... 277,408 15 (c) Directly charged against City Property: Street Improvement Fund- 238,121 0238121 0 "After".................... 238,121 B 311 0 Fund for Street and Park 4 7, 5 53.................... Openings............................. 47,88 53 (rand Totals......... $7,195,065 48 $1,287,933 53 $2,438,501 75 $1,209,251 59 $423,833 54 $122,155 24 $1,713,889 83 * 953.57 included for the Construction of Bridges. (A) GENERAL CLASSIFICATION of ASSESSMENT affecting the ACCOUNT known as "STREET IMPROVEMENT FUNDWORKS CONTRACTED for AFTER JANUARY 1, 1898." REGULATING, SEWERS AND FLAGGING, BOROUGHSOTS. TOTAL. NCRE-REGULATING, RECEIVING FENCING LOTS. SIDEA AN PAVING AND BASINS. SIDEWAL]M AND CURBING. CROsswA. I. M anhattan........................................... W The Bronx........................................... 56,034 22 $115,300 16 40,313 16 420 0 RThe Bronx..... l ********** 1,975,806 70 1,692,318 25 283,238 05............. 250 40 Brooklyn.... 1,057,875 58 682,242 47 361,780 08. $706 63 13,146 40 Queens.. l | 188,952 51 95,922 50 87,626 08.............. 5,408 93 lUhond121,404::34 l4,174 65* 102,790 63 661 98 13,787 08 Grand Totals................................ $3.500,07335 $2,689,96803 $876,74800 I 1,3 861 | * 953.7 included for 2,589,958 0 $875,748 00 $1,358 61 $Bridge8,008 71 * 953.57 included for Construction of Bridges. 22 TABLE of CITY'S FUNDED DEBT as at SEPTEMBER 1, 1911. Classified according to the General Purposes for which Bonds were Issued; also, Dividing the Totals as to the Amount thereof held respectively by the Sinking Funds and by the Public. CLASSIFICATION ACCORDING TO GROSSFUNDED PURCHASED AND PURCHASED AND FUNCTION OR GENERAL PURPOSE. TOTAAMOUNT INHELD B HELD BY TO_________TAL UNT SINKING FUNDS. PUBLIC. OUTSTANDING. GROUP "A" Water Bonds............................ $150,410,517 76 $34,315,862 76 $116,094,655 00 Rapid Transit............................ 73,302,337 28 2,511,187 28 70,791,150 00 Docks and Ferries........................ *110,789,990 00 22,988,790 00 87,801,200 00 Assessment Bonds (payable from assessments) 30,199,833 45 3,916,548 86 26,283,284 59 Totals of Group "A"................ $364,702,678 49 $63,732,388 90 $300,970,289 59 GRouP "B" Schools and Sites......................... $114,149,961 28 $17,635,002 11 $96,514,959 17 Libraries and Sites....................... 11,512,400 00 1,712,714 90 9,799,685 10 City Parks and Places.................... 63,298,918 58 12,821,141 08 50,477,777 50 Bridges............................... (1) 104,355,373 96 15,955,265 57 88,400,108 39 Streets, Highways and Trunk Sewers....... 132,615,484 21 29,782,019 80 102,833,464 41 Public Buildings, viz.: Health, Fire, Courts, Police, Corrections, etc................ 78,293,030 51 16,178,350 76 62,114,679 75 Sundry Other Purposes.................... 6,309,582 24 1,087,042 69 5,222,539 55 Various Municipal Purposes-Unallotted.... 1,698,678 29.............. 1,698,678 29 Totals of Group "B"............. $512,233,429 07 $95,171,536 91 $417,061,892 16 Gaoup "C" Refunding Bonds......................... $19,710,047 37 $428,971 53 $19,281,075 84 To Fund Deficiencies-Taxes........... (2) 11,000,000 00.............. 11,000,000 00 Totals of Group "C"............. $30,710,047 37 $428,971 53 $30,281,075 84 Aggregate Totals of Groups "A," "B" and "C"................ (3) $907,646,154 93 $159,332,897 34 $748,313,257 59 General Fund Bonds................... (4) 109,000,000 00 109,000,000 00.............. Grand Totals of Funded Debt, $1016,646,154 9)3 $26S,332,S97 34 $74S,313,257 59 (1): Includes the amounts expended in the acquirement of property for and in the construction of the mew Municipal Building. (2): Of these, $8,000,000 were issued in 1910 and in 1911 for Deficiencies in Taxes of 1904 and prior. (3): Included in the $907,646,154.93 indicated thus (3) are$4,426,166 05 of Corporate Stock notes the proceeds of which are for Various Municipal Purposes; 1,031,000 00 Corporate Stock notes, for Water Supply; and 140,000 00 Corporate Stock notes, for Rapid Transit; a Total of $5,597,166 05 which will be funded from the City's next sale of Corporate Stock. (4): Represent the Amount of Surplus Revenues of Sinking Fund No. 1 applied towards reduction of current taxation; held by Sinking Fund No. 1. Of the aggregate Total Funded Debt (3) the following amounts are exempt under the State Constitution from inclusion in the Debt Limit: W ater Bonds............................... $101,400,395 54 Rapid Transit Bonds....................... 47,482,725 18 County Bonds............................. 20,223,803 44 Total Bonds Exempted.................... $169,106,924 16 Of the Dock Bonds (*) it is probable that at least $70,000,000 will also be exempted by the Appellate Division as bdng fully self-carrying from Dock revenues. 23 RELATING TO FUNDED DEBT TABLE. THE TABLE on opposite page of the City's funded debt as at September 1, 1911, has beeqn designed to bring first into view the total outstanding amount of bonds which have been issued to finance undertakings that are largely or in part self-carrying. In the first group (Group "A") therefore are shown the total amounts of water bonds, rapid transit bonds, docks and ferries bonds, and assessment bonds payable from assessments. These make a combined total of $364,702,678.49, of which the City's sinking funds hold $63,732,388.90 and the public holds $300,970,289.59. Of the total amount of water bonds outstanding there are probably from $90,000,000 to $95,000,000 which are self-oarrying. The water revenues actually realized each year are probably sufficient to meet all administration, operation and maintenance charges of the Water Department per se, and to provide annual interest payments on and set aside a sum sufficient to amortize and ultimately redeem the principal of from $90,000,000 to $95,000,000 of these bonds. The remainder of the water bonds outstanding represent to a great extent the amount which has been expended in the Catskill aqueduct still in course of construction. It may be here stated that $101,400,395.54 of water bcnds are exempted from the debt limit under the provisions of the State Constitution. Of the rapid transit bonds $47,482,725.18 have been exempted by the Appellate Division in accordance with the provisions of the State Constitution. The lessee of the subway is now paying interest and annual aistallments to the Sinking Fund on $51,901,715. Consequently, of the total amount of rapid transit bonds outstanding as shown in the Table herewith submitted, nearly $52,000,000 are self-carrying. Of the docks and ferries bonds outstanding it is probable that the revenues realized by the City from the administration of the Dock Department are sufficient to meet all administration, operation and maintenance expenses, together with interest and amortization charges on at least $70,000,000 of said bonds. The bonds which are fourth in order of arrangement in Group "A" are assessment bonds issued by the City payable from assessments levied against property presumably benefited by the improvements made and to finance which these assessment bonds were issued. If the total interest on these bonds was payable and the entire principal was redeemable from the proceeds of special assessments laid for that purpose it would mean that all of these bonds were also fully self-carrying; but as the City in many cases has to assume a certain percentage of the assessments levied for certain improvements made, it follows that only a proportion of these assessment bonds is payable principal and interest from the proceeds of assessments laid for that purpose. A careful estimate of the proportion of assessment bonds on which interest and principal may ultimately require to be provided for by the City would place such as not exceeding twenty per cent. of the total amount thereof shown in Group "A." A conservative approximation, therefore, of the total amount of self-carrying bonds contained in Group "A," based on actual figures and careful estimates, would indicate that there are from $235,000,000 to $240,000,000 of these which can be so regarded. The succeeding classifications in Groups "B" and "C" consists of bonds issued for schools and sites, libraries and sites, City parks and places, bridges, streets, public buildings-including hospitals, charities, health, fire, police, correction, etc.; streets, highways; to cover deficiencies in tax collections, etc., the interest on which must be provided for by annual tax levy, together with the annual installments required to amortize and ultimately redeem the principal of such bonds. TABLE OF THE BONDED DEBT, GREATER CITY OF NeW YORK, AS AT JANUARY 1, 1898. The Funded Debt as at December 31, 1897, or January 1, 1898, of the various muniipalities now distinguished as Boroughs which were consolidated into and formed the Greater City of New York, was as follows: TOTAL FUNDED LsLESS S IN NG RESULTANT PLUS SPECIAL NET FUNDBD DEBT BOROUGH. TOTAL FUND HOLDINGS NET FUNDED REVENUE AS THUS DEBT. THEREOF. DEBT. BONDS. ESTABLISHED. Manhattan and The Bronx.......................... Brooklyn......................................... Q ueens........................................... R ichm ond........................................ T otal...................................... $223,082,666 27 81,626,175 53 13,709,935 62 3,486,736 67 $321,905,514 09 $85,654,317 52 6,734,055 69 330,000 00 $137,428,348 75 74,892,119 84 13,379,935 62 3,486,736 67 $229,187,140 88 $3,061,645 01 $3,061,645 01 $140,489,993 76 74,892,119 84 13,379,935 62 3,486,736 67 $232,248,785 89 to $92,718,373 21 Total Funded Debt as above......................... $321,905,514 09 Plus Special Revenue Bonds of the former City of New} 3,061,645 01 York....................................f Gross Funded Debt as at January 1, 1898......... $324,967,159 10 The above statement of the Funded Debt of The City of New York at consolidation considers and includes all of the funded debt of the former City of New York and of the municipalities in Brooklyn, Queens, and Richmond which was recorded as at the date of consolidation, and also such additional amounts as were recorded in subsequent years as being funded obligations of said former municipalities to be assumed by The City of New York. In other words, the foregoing table accurately sets forth the funded debt assumed by Thle City of New York as at consolidation, divided according to the Boroughs which constitute the Greater City, with the exception that the Boroughs of Manhattan and The Bronx, having composed the former City of New York, are treated for the purposes of this table as one political entity. These figures do not include the sum of $2,007,600 of revenue bonds issued by the former City of New York and outstanding as at January 1, 1898, redeemable from its tax levy of 1897; nor does the table include the sum of $4,060,000 of revenue bonds or certificates of indebtedness issued by the former City of Brooklyn and outstanding as at January 1, 1898, but payable from its tax levy of the year 1898. The Table on the opposite page shows the yearly increase of the City's Funded Debt to January 1, 1911. -r -"Y 25 COMPARATIVE YEARLY TABLE OF TH FUNDED DEBT FROM JANUARY 1, 1898, TO JANUARY 1, 1911. Showing the Totals Outstanding as at January 1 of each Year; the Amoun Issed, Redeemed and Caeld respectively during the Year, and the Totals Outstanding a at December 31 of each Year, all of the fgpre being EXCLUSIVE of General Fund Bonds, Special Revenue Bonds, and Revenue Bonds. As AT JANUARY 1 OUTSTANDING ISSUED REDuBMBD CANCELLED OUTSTANDING JANUARY 1. DURING YBAR. DURING YEAR. DURING YEAR. DECEMBER 31 1898.................. $321,905,514 09 $21,985,241 32 $1,756,029 55 $290,500 00 $341,844,225 86 1899.................. 341,844,225 86 27,137,879 33 5,660,429 97 3,700,688 82 359,620,986 40 1900.................. 359,620,986 40 33,745,198 28 6,707,070 53 1,864,516 52 384,794,597 63 1901.................. 384,794,597 63 38,371,315 20 9,446,695 83 1,671,500 00 412,047,717 00 1902.................. 412,047,717 00 29,601,958 19 5,463,269 25 1,846,800 00 434,339,605 94 1903.................. 434,339,605 94 43,022,919 42 4,156,225 89 4,083,100 00 469,123,199 47 1904.................. 469,123,199 47 86,825,742 87 14,497,860 72 6,496,950 00 534,954,131 62 1905.................. 534,954,131 62 41,210,934 23 8,813,878 38 2,294,674 72 565,056,512 75 1906.................. 565,056,512 75 57,052,174 58 2,703,295 27 1,920,500 00 617,484,892 06 1907.................. 617,484,892 06 79,100,195 07 16,906,065 02 7,282,057 05 672,396,965 05 1908.................. 672,396,965 05 73,340,859 20 13,453,606 96 1,592,223 20 730,691,994 09 1909.................. 730,691,994 09 72,566,074 59 6,315,964 65 2,011,815 15 794,930,288 88 1910.................. 794,930,288 88 63,022,795 77 12,199,720 39 2,249,566 12 843,503,798 14 1911.................. * 843,593,798 14............................................ EQUATION. Total Amount Issued.................. $666,983,288 05 Total Amount Outstanding as at Januaryl 321,905,514 09 1 1898........................... $988,888,802 14 $108,080,112 41 Total Amount Redeemed. 37,304,891 59 Total Amount Cancelled. 843,503,798 14 Total Amount Outstanding as 843,503,798 at January 1, 1911. $988,888,802 14 RECAPITULATION. January 1, 1898, Amount Outstanding............................................... $321,905,514 09 Issued sinee, up to December 31, 1910, inclusive......................... $666,983,288 05 Redeemed and Cancelled during said period............................. 145,385,004 00 Net Addition............................................... 521,598,284 05 FUNDED DEBT (as above) January 1, 1911-i. e., deducting General Fund Bonds and Special Revenue and Revenue Bonds.................................. $843,503,798 14 *Includes $6,000,000 to Fund Unaollectible Taxes. SUMMARY OP OGBRAL FUND BONDS. Issued by the City of New York during the years stated, all of which are purchased by Sinking Fund No. 1, rom the Surplus Revenues thereof, and the Bonds are held by said Sinking Fund as part of its investments. 1908....................... $8,500,000 1908....................... $14,500,000 1904........................ 9,500,000 1909....................... 16,750,000 1905........................ 11,000,000 1910....................... 17,000,000 1906........................ 11,750,000 1907....................... 13,500,000 $102,500,000 26 Table Showing the Total Amount of all Bonds Issued duwing 1908, 1909, and 1910, CHARGEABLE AGAINST THE DEBT LIMIT. YEAR 0F I 1908. Totals Issued...... 1909. Totals Issued..... 1910. Totals Issued.....I GRAiN.D AGGREG Tl'ES, 1 YUA.RS 1908, 1909, 1910......1 I I I I I i I i I II Grand Aggre - ates. I i -1 RAPID TRANSIT. VARIUOUS MuwiCIPAL PURPOSES. ASSESSMENT. DIVIDED AS UN1DIIR $61,653,079 20 $3,4620d,825 IS $54,267,754 02 A-8,922,400 00 $51,858,074 591 $ 4, 58,0 0 0 0 $ 45,2"7 1, 574 5 9$2,904,000 00,$40,559,570 77 $6,213,012 10 $34,3453,558 67 $1,000 00 11$154,070,724 56 Ii $11,21358,9337.28 $133,SS4,887 28 $5,927,500 00 I ------------— ~~~~~ ---- --- --- Norx.-The above Statement of Bond Issues does not include the $14,500,000 of General Fund Bonds wlsieh were issued during 1908, nor the $16,750,000 of similar Bonds issued during 1909, nor the $17,000,000 wkich were issued during 1910, and which respective sums represented the amount of the surplus revenues of sinking Fund No. 1 which were used to meet Budget Appropriations and thus correspondingly reduce the Tax Levies for said years. NOTE.-Of the Total Amount of Rapid Transit Bonds issued since 1900, aggregating $64,652,337.28, $43,868.325.18 and $3,614,400, respectively, have been exempted by the Appellate Division of the Supreme Court from the City's Debt Lim-it. Table Showing the, Amount of Waler Bonds Issued during 1908, 1909, and LAO01, THESE ARE NOT CHARGEABLE AGAINST THE DEBT LIMITLl. ISSUED DURING Grand - Aggregate. 1908. 1909. 1910. Totals... $54,859,00& 00 $11,687,789 00 $20,708,00009 $22,463,25 0* Table Showing the Total Amount of Revenue Bonds Outertanding as at December 31st of each Year, from 1S'98 to 1910, inclusive. Total Amount Total Amount Year ~~Outstanding at YerOutstanding at Year ~~~~Close of Year, YerClose of Year viz.: Dec. 31. vis.: Dee. 31. 1808 $7,600 00 1905 $42,097,000 00 1890 7,600 00 Ii1906 50,412,270 00 1900 2,107,600 00 1907 53, 646,036 92 1901 9,912,600 00 It1908 74,006,600 00 1902 22,467,600 00 II1900 60,367,290 00 1903 41,748,600 00 11910 58,874,533 08 1904 34,457,000 00 COMPARATIVE TABLE-YEARS 1897-1911, Both Inclusive-ASSESSED VALUATIONS of TAXABLE REAL ESTATE, and PERSONAL PROPERTY, and the TOTALS THEREOF. ASSESSED VALUATIONS. YEAR. ------.. --- —------ Real Estate. Personal Estate. Totals. *1897.................................... $2,463,135,687 00 $419,679,395 00 $2,882,815,082 00 t1898.................................... 2,532,516,819 00 548,987,900 00 3,081,504,719 00 -1899.................................... 2,932,445,464 00 545,906,565 00 3,478,352,029 00 1900.................................... 3,168,547,700 00 485,574,493 00 3,654,122,193 00 1901.................................... 3,237,778,261 00 550,192,612 00 3,787,970,873 00 1902.................................... 3,330,647,579 00 526,400,139 00 3,857,047,718 00 1903.................................... 4,751,532,826 00 680,866,092 00 5,432,398,918 00 1904.................................... 5,015,463,779 00 625,078,878 00 5,640,542,657 00 1905.................................... 5,221,584,301 00 690,561,926 00 5,912,146,227 00 1906.................................... 5,738,487,245 00 567,306,940.00 6,305,794,185 00 1907.................................... 6,240,480,602 00 554,861,313 00 6,795,341,915 00 1908.................................... 6,722,415,789 00 435,774,611 00 7,158,190,400 00 1909.................................... 6,807,179,704 00 443,320,855 00 7,250,500,559 00 1910.................................... 7,044,192,674 00 372,644,825 00 7,416,837,499 00 1911.................................... 7,858,840,164 00 357,923,128 00 8,216,763,287 00 * Note-The Valuations for the Year 1897 have been ascertained as follows:-In Manhattan and The Bronx from Tax Bills of 1897 and Information furnished by the Department of Taxes and Aueements, and in the Boroughs of Br9oklyn, Queens and Richmond, from the Reports of the various Boards of Supervisors as verified by the Expert Accountants of The City of New York. t Note-The Valuations for Year 1898 have been ascertained as follows:-In Manhattan and The Bronx from the Reports of the Department of Taxes and Assessments and in the Boroughs of Brooklyn, Queens and Richmond as there was no tax levied in 1898, the valuations of the preceding year were repeated. N. B.-The assessed valuations of Real Estate were increased in 1903 from a varying pereentage thereto. fore of the full value to presumably the full value thereof. Comparative Table Relative to the City's Indebtedness, Borrowino Capacity and Taxation, 1905 to 1910, Inclusive. 1905. 1906. 1907. 1908. 1909. 1910. 1905..] Legal Borrowing Margin as at December 31, P. AM. $45,953,695 41 Gross Funded Debt as at December 31, P. M.... Net Funded Debt as at December 31, P. M...... Assessed Valuations of Taxable Real Estate...... Assessed Valuations of Taxable Personal Estate.. Total Amount of Budget...................... Total Amount of Tax Levy.................... Total Amount of General Revenue applied. towards Budget Appropriations........... Tax Rate, New York County.................. Tax Rate, Kings County...................... Tax Rate, Queens County..................... Tax Rate, Richmond County.................. 600,257,612 75 430,477,000 39 5,221,582,301 00 690,561,926 00 109,817,593 03 88,985,645 75 22,979,002 77 1,490 51 1,562 64 1,555 23 1,558 21 $31,143,218 73 665,697,392 06 474,653,205 12 5,738,487,245 00 567,306,940 00 116,805,490 37 94,098,147 42 24,934,694 30 1,478 90 1,537 69 1,554 84 1,554 22 $27,695,740 52 735,014,965 05 537,577,801 03 6,240,480,602 00 554,861,313 00 130,421,505 66 101,950,253 58 28,965,070 61 1,484 99 1,554 08 1,533 93 1,568 84 $48,605,847 85 799,441,994 09 589,045,654 07 6,722,415,789 00 435,774,611 00 143,572,266 17 116,542,896 09 27,454,945 65 1,614 07 1,670 21 1,660 31 1,711 15 $58,764,207 36 880,430,288 88 648,062,228 92 6,807,179,704 00 443,320,855 00 156,552,748 14 122,745,210 17 34,231,062 84 1,678 04 1,737 80 1,725 36 1,775 22 $78,886,025 67 946,003,798 14 689,363,508 53 7,044,192,674 00 372,644,825 00 163,128,270 37 131,478,283 11 32,030,989 45 1,757 90 1,814 99 1,810 79 1,875 01 I.... _ M. B. BROWN PRINTING & BINDING CO., 49-57 PARK PLACE. NEW YORK. 3449-11-10,000 HJ 9289 New York (City). N 4 8........................................................ A23 Dept of finance 1'911 business............o e business of Now ork city