Norwood annual report 1963-1964, Part 60

Author: Norwood (Mass.)
Publication date: 1963
Publisher: The Town
Number of Pages: 964


USA > Massachusetts > Norfolk County > Norwood > Norwood annual report 1963-1964 > Part 60


Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).


Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7 | Part 8 | Part 9 | Part 10 | Part 11 | Part 12 | Part 13 | Part 14 | Part 15 | Part 16 | Part 17 | Part 18 | Part 19 | Part 20 | Part 21 | Part 22 | Part 23 | Part 24 | Part 25 | Part 26 | Part 27 | Part 28 | Part 29 | Part 30 | Part 31 | Part 32 | Part 33 | Part 34 | Part 35 | Part 36 | Part 37 | Part 38 | Part 39 | Part 40 | Part 41 | Part 42 | Part 43 | Part 44 | Part 45 | Part 46 | Part 47 | Part 48 | Part 49 | Part 50 | Part 51 | Part 52 | Part 53 | Part 54 | Part 55 | Part 56 | Part 57 | Part 58 | Part 59 | Part 60 | Part 61


25,020.25


11,219.75


20,500.00


20,500.00


Water Construction Everett Street


.00


20,500.00


57,090.24


42.00


57,132.24


Cemetery Maintenance Salaries


55,466.62


1,665.62


10,575.00


5,044.00


15,619.00


Cemetery Maintenance


15,273.21


345.79


1,000.00


1,000.00


Cemetery Improvement Salaries


996.85


3.15


6,100.00


6,100.00


Cemetery Improvement


4,771.46


1,328.54


8,500.00


8,500.00


Cemetery New Equipment


8,280.88


219.12


8,751.50


2,400.00


6,351.50


Veterans Service Salaries


5,173.75


1,177.75


43,375.00


3,926.11


47,301.11


Veterans Service Incidentals


46,360.63


940.48


720.00


720.00


Lease of Quarters Veterans of Foreign Wars.


720.00


00


720.00


720.00


Lease of Quarters Post 70 American Legion


720.00


.00


720.00


720.00


Lease of Quarters Amvets Post 153


720.00


.00


720.00


720.00


Lease of Quarters Marine Corps League


720.00


.00


449


REPORT OF TOWN ACCOUNTANT


95,718.00


59,000.00 95,718.00 388,000.00


Interest


388,000.00


Maturing Debt


388,000.00


REVENUE -- Continued


Annual Appro- priation


Transfers Transfers In Out


Total


Accounts


Payments


Balance


720.00 82,832.31


1,500.00


84,332.31


Contributory Retirement Fund


84,332.31


.00


200,000.00


200,000.00


Stabilization Fund


200,000.00


.00


250.00


250.00


Airport Administration Fund


220.50


29.50


3,500.00


99.90


3,599.90


Civil Defense


1,941.65


1,658.25


500.00


15.40


515.40


Conservation Committee


308.85


206.55


16,000.00 500.00


16,000.00


Light Dept. (10 year plan)


4,777.57


11,222.43


500.00


Capital Outlay Committee


288.55


211.45


1,000.00


1,000.00


Relocating Curbing Talbot Parking Lot


803.25


196.75


500.00


75.00


575.00


Carillon Concerts


575.00


.00


2,600.00


2,600.00


Observance of Memorial Day


2,363.13


236.87


2,000.00


2,000.00


Observance of Fourth of July


1,907.50


92.50


3,000.00


3,000.00


Christmas Decorations


2,940.78


59.22


20,270.00


20,270.00


Renovation to Basement of Municipal Bldg.


15,021.29


5,248.71


500.00


500.00


Committee of Industrial Development


309.40


190.60


9,800.00


9,800.00


Hydrant Rentals


9,800.00


.00


1,427.30


1,427.30


Blue Hills Regional District School


1,427.30


00


500.00


500.00


Memorial to Late James E. Pendergast


.00


500.00


700.00


700.00


Oil Painting of Late George F. Willett


650.00


50.00


500.00


500.00


.00


500.00


10,000.00


10,000.00


Establishing a Teen-Age Drop-in-Center


29.69


9,970.31


23,850.00


23,850.00


Purchase of Lovell Land for Dump Purpose


23,581.28


268.72


720.00


Lease of Quarters Chapter 90 D.A.V.


720.00


.00


450


TOWN OF NORWOOD


1,900.00


1,900.00


Cleveland School Addition Committee


366.15


1,533.85


Survey of Expansion and Extension of Electric


Plans and Specifications for Erection of Honor Roll Plaques in Memorial Hall


300.00


300.00


Parking Commission Expense


4.00


296.00


3,700.00


3,700.00


Printing Town Report


3,572.75


127.25


1,000.00


1,000.00


Expense of 100th Anniversary Committee


634.37


365.63


580.00


580.00


Erection of Flagpole on D.A.V. Park


580.00


.00


5,000.00


5,000.00


Balch School Addition Committee


3,888.70


1,111.30


300.00


300.00


Permanent Building Construction Committee


30.00


270.00


189.50


189.50


Legal Services-Crowley & Christian Case


189.50


.00


17,057.37


662.00


17,719.37


Unpaid Bills Incurred Prior to 12-31-63


17,647.25


72.12


58,600.00


58,600.00


Reserve Fund


51,656.47


6,943.53


7,822,786.58


448,845.17


12,307.01 8,259,324.74


7,806,268.24 466,880.97 Overdraft-13,824.47


REPORT OF TOWN ACCOUNTANT


451


452


UNEXPENDED 1961 REVENUE ACCOUNTS AS OF DECEMBER 31, 1964


Unexpended Transfer Transfer


Balance


In


Out


Total


Account


Payment


Balance


30,967.90


11,944.00


42,911.90


Norwood-Walpole Interceptor Sewer


1,911.24


41,000.66


10,770.40


10,770.40


Sewer Construction


10,770.40


38,019.43


38,019.43


Drain Construction


38,019.43


2,164.25


2,164.25


Highway Construction


2,164.25


500.00


500.00


Playground Improvement


500.00


1,019.44


1,019.44


Playground Improvement-Fr. McAleer


1,019.44


957.84


957.84


Prospect St. Elementary School Bldg. Com.


90.00


867.84


29,356.81


29,356.81


Automatic Sprinklers in School Buildings


29,356.81


731.00


731.00


Morrill Memorial Library Addition Bldg. Com.


731.00


1,862.10


1,862.10


Light Construction


1,862.10


1,101.36


1,101.36


Light Depreciation


1,101.36


3,700.00


3,700.00


Water Construction


678.10


3,021.90


400.00


400.00


Cemetery Improvement Incidentals


400.00


2,281.18


2,281.18


Land Damage Lenox St.


2,281.18


123,831.71


11,944.00


135,775.71


6,373.80


129.401.91


TOWN OF NORWOOD


UNEXPENDED 1962 REVENUE ACCOUNTS AS OF DECEMBER 31, 1964


Unexpended Transfer Transfer


Balance In


Out


Total


Account


Payment


Balance


Procuring Final Plans & Estimates for Fire-Police


3,852.78


3,852.78


& Civil Defense Bldg.


3,650.01


202.77


6,470.00


6,470.00


Maintenance & Control of Traffic


6,350.60


119.40


5,769.40


5,769.40


Sewer Construction


202.26


5,567.14


52,087.10


52,087.10


Highway Construction


22,390.71


29,696.39


42,000.00


42,000.00


Highway Construction Chapter 90


42,000.00


2,500.00


2,500.00


Permanent Sidewalks


2,377.90


122.10


4,965.45


ยท 4,965.45


Veterans Services Incidentals


4,965.45


727.69


727.69


Playground Construction-Ellis Gardens


328.19


399.50


67,996.72


4,694.00


72,690.72


Prospect St. Elementary School Bldg. Construction


67,672.61


5,018.11


85.00


85.00


Committee on Regional Vocational School


85.00


Renovating and Modernizing Fire Alarm System in


9,400.00


9,400.00


Balch-Winslow-Shattuck-Callahan-Junior High


9,400.00


452.93


452.93


Light Construction


452.93


49.58


49.58


Light Construction-Windsor Gardens


49.58


330.83


330.83


Procuring-Writing & Publishing Town Histories


330.83


2,513.35


2,513.35


Committee on Industrial Development


2,513.35


199,200.83


4,694.00


203,894.83


103,425.21


100,469.62


REPORT OF TOWN ACCOUNTANT


453


454


1963 UNEXPENDED REVENUE BALANCES AS OF DECEMBER 31, 1964


Unexpended Transfer Transfer


Balance


In


Out


Total


Account


Payment


Balance


187.40


187.40


Assessors Incidentals


187.40


22.50


22.50


Assessors New Equipment


22.50


247.25


247.25


Engineers New Equipment


91.80


155.45


492.90


492.90


General Government Incidentals


212.00


280.90


2,975.00


2,975.00


Finance Commission


2,975.00


80,423.53


80,423.53


Construction Police-Fire & Civil Defense Building


80,423.53


1,259.00


1,259.00


Police New Uniforms


1,113.00


146.00


239.00


239.00


Police New Equipment


239.00


4,133.00


4,133.00


Maintenance & Control of Traffic


4,130.00


3.00


105.00


105.00


Fire New Uniforms


105.00


2,592.71


2,592.71


Fire Alarm Maintenance


1,851.00


741.71


227.50


227.50


Public Works Incidentals


227.50


105,086.59


105,086.59


Sewer Construction


77,410.46


27,676.13


2,626.59


4,110.00


6,736.59


Drains Construction


5,103.21


1,633.38


131.00


131.00


Particular Sewers


131.00


70.00


70.00


Sewer Maintenance and Repairs


70.00


628.00


628.00


Highway Maintenance and Repairs


479.13


148.87


42,000.00


42,000.00


Highway Construction Chapter 90


42,000.00


1,204.22


1,204.22


Garage Maintenance and Operation


894.72


309.50


2,044.10


2,044.10


Permanent Sidewalks


1,578.45


465.65


190.00


190.00


Care of Trees


190.00


680.00


680.00


Dutch Elm Disease Control


680.00


8,764.06


8,764.06


Playground Improvement


8,684.64


79.42


7,523.40


7,523.40


Construction of Playground-Mastercraft


4,328.10


3,195.30


200.00


200.00


Schools Administration Expense


200.00


TOWN OF NORWOOD


1963 UNEXPENDED REVENUE BALANCES-Continued


Unexpended Transfer Transfer


Balance


In Out


Total


Account


Payment


Balance


6,060.98


6,060.98


Schools Maintenance of Buildings


6,060.81


.17


433.43


433.43


Committee of Nine Elementary School Housing


305.51


127.92


1,500.00


1,500.00


Regional School District Planning Committee


1,023.02


476.98


564.91


564.91


Schools Instruction Supplies


46.43


518.48


1,831.85


1,831.85


Schools Auxiliary Agencies


1,485.51


346.34


Schools Repairs & Replacements-Equipment &


54.00


54.00


Furnishings


54.00


583.05


583.05


Schools Textbooks


253.49


329.56


1,024.00


1,024.00


Industrial Education


700.79


323.21


18.00


18.00


National Defense Education Act


18.00


922.25


922.25


Schools Capital Outlay


169.34


752.91


92.48


92.48


Morrill Memorial Library Incidentals


19.96


72.52


800.00


800.00


Morrill Memorial Library Addition Committee


800.00


80.00


80.00


Maintenance & Repair of Library Building


80.00


1,981.54


1,981.54


Water Maintenance


769.22


1,212.32


280.00


280.00


Water House Connections


280.00


1,115.00


1,115.00


Light Operation


780.00


335.00


1,564.82


1,564.82


Light Admin. Customer & General Expense


1,500.00


64.82


36,352.83


36,352.83


Light Construction


35,542.71


810.12


19,356.11


19,356.11


Light Depreciation


19,356.11


30,000.00


30,000.00


16,528.00


13,472.00


85.00


85.00


Christmas Decorations


85.00


992.50


992.50


Procuring-Writing & Publishing of Town Histories


126.32


866.18


312.43


312.43


Civil Defense


196.41


116.02


370,057.93


4,110.00


374,167.93


275,598.07


98,569.86


455


REPORT OF TOWN ACCOUNTANT


Addition to Light sub-station at Washington and Chapel St.


UNEXPENDED 1961 NON-REVENUE ACCOUNTS as of DECEMBER 31, 1964


Unexpended Transfer Transfer


Balance In


Out


Total


Account


Payment


Balance


1,729.69


1,729.69


Sewer Construction Borrowed


1,729.69


3,929.89


3,929.89


Drain Construction Borrowed


3,929.89


49,588.03


49,588.03


Remodel Senior High School Borrowed


2,235.25


47,352.78


39,098.84


39,098.84


Construction Senior High School Addition Borrowed


1,917.27


37,181.57


Construction Elementary School


16.93


16.93


Neponset St .- Borrowed


16.93


12,409.42


12,409.42


Light Construction Borrowed


4,000.00


8,409.42


3,130.99


3,130.99


Water Construction Borrowed


3,130.99


2,516.95


2,516.95


Water Construction-Mains-Borrowed


2,516.95


112,420.74


112,420.74


8,152.52


104,268.22


456


TOWN OF NORWOOD)


1


1963 UNEXPENDED NON-REVENUE BALANCES


Unexpended Transfer Transfer


Balance In


Out


Total


Account


Payment


Balance


100,000.00


100,000.00


Construction Fire-Police-Civil Defense Building Borrowed


67,099.16


32,900.84


1,302.00


1,302.00


Sewer Construction-Borrowed


1,302.00


7,525.36


7,525.36


Water Construction Borrowed


3,080.54


4,444.82


5,013.93


5,013.93


Water Construction Street Mains Borrowed


2,247.10


2,766.83


Addition to Light Sub-Station at Washington


206,612.82


206,612.82


& Chapel Sts .- Borrowed


133,976.58


72,636.24


320,454.11


320,454.11


206,403.38


114,050.73


NON REVENUE ACCOUNTS AS OF DECEMBER 31, 1964


Borrowed


Appro-


Transfers


Transfers


priation


In


Out


Total


Account


Payments


Balance


135,000.00


135,000.00


Light Construction Borrowed Funds 13.8 K.V. Line Nortronics and Bird's


23,356.04


111,643.96


58,000.00


58,000.00


Light Construction Borrowed


.00


58,000.00


Installing 13.8 K.V. Line at


20,000.00


20,000.00


Plimpton Press Borrowed


.00


20,000.00


213,000.00


213,000.00


23,356.04


189,643.96


REPORT OF TOWN ACCOUNTANT


457


OTHER OPERATING ACCOUNTS AS OF DECEMBER 31, 1964


Annual Appro- priation


Transfers


Transfers Out


Total


Account


Payments


Balance


18,000.00


819.23


18,819.23


Workmen's Compensation


16,127.22


2,692.01


100.00


100.00


H. O. Peabody Income


38,823.96


Agency


1,164,595.61


Refunds


73,219.57


Trusts


8,644.72


Plimpton Fund


13.40


George Barden Fund


13,464.76


High School English Prize Fund


21.24


Estimated Receipts


56.09


Land Damage Awards


4,316.10


Investments


1,865.554.03


Purchase of Bonds


11,931.25


Court Judgments


11,922.67


18,000.00


919.23


18,919.23


3,208,690.62


2,692.01


TOWN OF NORWOOD


458


In


459


REPORT OF TOWN ACCOUNTANT


CONTRIBUTORY RETIREMENT


Membership


Active Membership Dec. 31, 1963:


Group A-Male 123, Female 83 Group B-Male 86 292


Enrolled during 1964:


Group A-Male 11, Female 13


Group B-Male 10 34


Withdrawals, Deaths, Retirements: Group A-Male 8, Female 6 Group B-Male 3 17


Active Membership Dec. 31, 1964:


Group A-Male 126, Female 90


Group B-Male 93 309


Pensions


Retired Membership Dec. 31, 1963: Group A-Male 27, Female 11


Group B-Male 4


42


Retirements during 1964:


Group A-Male 4, Female 2


Group B-Male 2


8


Deaths during 1964:


Group A-Male 1


Group B-Male 1 2


Retired Membership Dec. 31, 1964:


Group A-Male 30, Female 13


48


Beneficiaries on Dec. 31, 1964


13


Income


From Members:


Group A


Group B


$46,394.50 32,236.83


$78,631.31


From Town:


Appropriation to Pension Fund


79,882.00


AAdministration Expense


3,000.00


Town of Saugus


1,450.31


84,332.31


From Interest:


On Bonds On Deposits in Banks


23,786.45


13,937.58


37,724.03


$200,687.65


Group B-Male 5


460


TOWN OF NORWOOD CONTRIBUTORY RETIREMENT-Continued Disbursements


Annuity Payments :


Group A


Group B


$8,942.64 1,525.30


$10,467.94


Pension Payments :


Group A


80,335.93


Group B


22,785.12


103,121.05


Refunds:


Group A


2,188.65


Group B


4,972.99


7,161.64


Investments


70,000.00


Administration Expense:


Personal Services


1,856.88


Medical Fees


283.00


Printing, Postage, Stationery


173.08


Travel, Members Association Expense


296.85


Safe Deposit Box Rental


40.00


2,649.81


$193,400.44


Assets


Bonds at Book Value


$ 442,638.48


Cooperative Shares at Book Value


152,000.00


Deposits in Banks NOT at Interest


23,338.04


Deposits in Banks AT Interest


379,045.00


Interest Due and Accrued Dec. 31, 1964


4,678.72


$1,001,700.24


Liabilities


Annuity Savings Fund


$ 770,933.96


Annuity Reserve Fund


118,556.94


Special Fund for Military Credit


4,528.97


Pension Fund


103,824.21


Expense Fund


2,405.85


Due Town of Saugus-John F. Kennedy


1,450.31


$1,001,700.24


CEMETERY PERPETUAL CARE BEQUESTS


1964


69 Lots Placed Under Perpetual Care


$7,950.00


16 Single Graves Placed Under Perpetual Care 600.00


- 85


$8,550.00


MUNICIPAL ELECTRIC LIGHT DEPARTMENT FINANCIAL REPORT as of DECEMBER 31, 1964 Plant Investment Account


Total Cost


Distribution Plant


Book Value (Deprec. Deducted) Jan. 1, 1964


Additions During Yr.


Deductions (Depreci- Deductions ation)


(Other)


Book Value (Deprec. Deducted) Dec. 31, 1964


$


9,637.00


Land


$ 9,637.00


$ 0.00


$ 0.00


$ 9,637.00


415,826.00


Structures and Improvements


241,506.00


10,104.00


12,171.00


239,439.00


475,093.00


Station Equipment


64,468.00


110,423.00


11,114.00


* 5,792.00


157,985.00


387,195.00


Poles, Towers and Fixtures


166,872.00


31,300.00


10,677.00


187,495.00


359,860.00


Overhead Conductors and Devices


160,445.00


39,689.00


9,905.00


** 9,967.00


180,262.00


279,903.00


Underground Conduits


151,877.00


38,433.00


7,244.00


183,066.00


788,312.00


Underground Conductors and Devices ..


539,543.00


85,772.00


21,076.00


604,239.00


470,496.00


Line Transformers


263,196.00


40,676.00


12,895.00


290,977.00


148,467.00


Services


68,143.00


15,411.00


3,992.00


79,562.00


303,434.00


Meters


107,752.00


15,993.00


8,623.00


115,122.00


239,632.00


Street Lighting and Signal Systems . ..


130,071.00


20,420.00


6,576.00


143,915.00


$3,877,855.00


Total Distribution Plant


$1,903,510.00


$408,221.00


$104,273.00


$ 15,759.00


$2,191,699.00


General Plant


26,995.00


Office Furniture and Equipment


18,171.00


396.00


798.00


17,769.00


60,194.00


Transportation Equipment


39,489.00


2,279.00


1,737.00


40,031.00


27.00


Laboratory Equipment .


26.00


0.00


1.00


25.00


9,107.00


Communication Equipment


7,961.00


944.00


245.00


8,660.00


REPORT OF TOWN ACCOUNTANT


461


13,102.00 $ 109,425.00


PLANT INVESTMENT ACCOUNT-Continued


Miscellaneous Equipment


11,444.00


0.00


393.00


11,051.00


Total General Plant


$ 77,091.00


$ 3,619.00


$ 3,174.00


$ 0.00


$ 77,536.00


$3,987,280.00


Total Plant Investment Account


$1,980,601.00


$411,840.00


$107,447.00


$ 15,759.00


$2,269,235.00


* Insurance Claims -- Equipment taken out of service.


** Insurance and other recoveries taken out of service.


COMPARATIVE BALANCE SHEET Assets and Other Debits


Plant


Jan. 1, 1964 $1,980,601.00


Dec. 31, 1964 $2,269,235.00


Increase $288,634.00


Decrease


Utility Plant in Service Fund Accounts


Depreciation Fund


20,458.00


25,302.00


4,844.00


Construction Fund


287,740.00


305,464.00


17,724.00


Other Special Funds


89,029.00


91,816.00


2,787.00


Total Funds Current Assets


397,227.00


422,582.00


25,355.00


Customer Accounts Receivable


157,306.00


163,860.00


6,554.00


Other Accounts Receivable


6,723.00


0.00


6,723.00


Materials and Supplies


17,405.00


46,801.00


29,396.00


Prepaid Insurance


256.00


256.00


Total Current Assets


181,690.00


210,917.00


29,227.00


Total Assets and Other Debits


$2,559,518.00


$2,902,734.00


$343,216.00


462


TOWN OF NORWOOD


-


Liabilities and Other Credits


Jan. 1, 1964


Dec. 31, 1964


Increase


Decrease


Appropriations


Appropriations for Construction


0.00


0.00


0.00


Surplus


Loans Repayment


593,808.00


688,808.00


95,000.00


Appropriations for Construction Repayment


909,957.00


1,054,258.00


144,301.00


Unappropriated Earned Surplus


616,733.00


599,118.00


17,615.00


Total Surplus


2,120,498.00


2,342,184.00


221,686.00


Long Term Debt


Bonds


347,000.00


465,000.00


118,000.00


Current and Accrued Liabilities


Customer Deposits


89,029.00


91,816.00


2,787.00


Interest Accrued


2,991.00


3,734.00


743.00


Total Current and Accrued Liabilities


92,020.00


95,550.00


3,530.00


Total Liabilities and Other Credits


$2,559,518.00


$2,902,734.00


$343,216.00


REPORT OF TOWN ACCOUNTANT


463


464


TOWN OF NORWOOD


STATEMENT OF INCOME FOR THE YEAR


Dec. 31, 1964


Increase Decrease


Sales of Electricity


Residential


$ 840,762.00


$ 64,118.00


Commercial


326,963.00


19,379.00


Industrial


561,449.00


32,081.00


Municipal


68,968.00


1,148.00


Operating Revenue


1,798,142.00


116,726.00


Operating Expenses:


Operation


1,318,691.00


79,218.00


Maintenance


57,248.00


15,210.00


Depreciation


107,447.00


8,338.00


Total Operating Expenses


1,483,386.00


102,766.00


Net Operating Income


314,756.00


13,960.00


Other Income


Interest Income


2,889.00


259.00


Miscellaneous Income


6,095.00


2,720.00


Total Other Income


8,984.00


2,979.00


Total Income before Int. Charges ..


323,740.00


16,939.00


Interest Charges


Interest on Bonds and Notes


8,400.00


3,881.00


Other Interest Expense


2,746.00


93.00


Total Interest Charges


11,146.00


3,974.00


Net Income


$ 312,594.00


$ 12,965.00


Analysis of Unappropriated Earned Surplus


Credits


Unappropriated Earned Surplus


(at beginning of year)


$616,733.00


Balance Transferred from Income .


312,594.00


$929,327.00


Appropriations of Surplus Unappropriated Earned Surplus (at end of year)


Debits $330,209.00


599,118.00


$929,327.00


465


REPORT OF TOWN ACCOUNTANT


OPERATING EXPENSES


Dec. 31, 1964


Increase Decrease


Power Supply Expense


Purchased Power


$1,100,246.00


$72,220.00


Distribution Expenses


Operation:


Supervision and Engineering


4,065.00


156.00


Station Expenses


28,861.00


1,099.00


Overhead Line Expense


549.00


5,376.00


Underground Lines


492.00


201.00


Street Lighting and Signal System Expense


10,519.00


1,186.00


Meter Expenses


5,350.00


790.00


Customer Installations Expense


6,841.00


57.00


Miscellaneous Distribution Exp. . .


3,885.00


5.00


Rents


1,180.00


590.00


Total Operation


61,742.00


1,416.00


Maintenance:


Supervision and Engineering


3,965.00


1,326.00


Maint. of Structures


2,813.00


1,885.00


Maint. of Station Equipment


5,528.00


1,356.00


Maint. of Overhead Lines


28,156.00


12,645.00


Maint. of Underground Lines


5,662.00


4,284.00


Maint. of Line Transformers


775.00


42.00


Maint. of Street Light and Signal Systems


4,475.00


2,851.00


Maint. of Meters


105.00


756.00


Maint. of Misc. Distribution Plant


157.00


103.00


Total Maintenance


51,636.00


9,598.00


Total Distribution Expenses . .


113,378.00


8,182.00


Customer Accounts Expenses


Operation:


Meter Reading Expenses


18,638.00


941.00


Cust. Records and Collection Exp.


14,878.00


724.00


Misc. Customer Account Expenses


0.00


44.00


Total Customer Account Expenses


33,516.00


173.00


Adminis. and General Expenses


Operation:


Administrative & General Salaries


85,450.00


6,802.00


Office Supplies and Expenses


1,715.00


78.00


466


TOWN OF NORWOOD


OPERATING EXPENSES-Continued


Dec. 31, 1964


Increase


Decrease


Outside Services Employed


10,978.00


7,921.00


Property Insurance


927.00


14.00


Employee Pensions and Benefits. .


17,534.00


112.00


Miscellaneous General Expense


583.00


222.00


Rents


6,000.00


Total Operation


123,187.00


14,297.00


Maintenance:


Transportation


5,612.00


444.00


Total Administration


and General Expense


128,799.00


13,853.00


Total Electric Operation


and Maintenance Expenses


$1,375,939.00


$94,428.00


ANALYSIS OF GENERAL CASH for the Year Ended December 31, 1964


Balance, January 1, 1964


0.00


Add-Receipts :


Customer Collections


$1,812,657.00


Insurance Recovery


12,515.00


Constructive Receipt, Cost of Water Billing


9,193.00


Total Receipts


$1,834,365.00


Deduct-Disbursements :


Actually Paid:


Operation and Maintenance .. $1,217,091.00


Customer Account Expenses . . 37,130.00


Adminis. and General Exp. . . 72,945.00


Survey of Plant


4,778.00


Outside Engineering Services .


1,500.00


Bonds


95,000.00


Interest on Bonds


7,657.00


Refunds


455.00


Depreciation Fund


107,447.00


1,544,003.00


Constructively Paid:


Adminis. and General Exp. .. 42,750.00


Pensions


12,404.00


Town Meeting Approp. Repaid 144,301.00


Balance of Cash Ret. to Treas. 90,907.00


290,362.00


Total Disbursements


1,834,365.00


0.00


Balance, December 31, 1964


467


REPORT OF TOWN ACCOUNTANT


ANALYSIS OF CONSTRUCTION CASH FUND for the Year Ended December 31, 1964


Balance, January 1, 1964


$287,740.00


Add-Receipts:


Direct Appropriations at Town Meetings .. $144,301.00


Borrowings (Bond Issued at Town Meet.) 213,000.00


Total Receipts


357,301.00


Deduct-Disbursements for Construction


339,577.00


Balance, December 31, 1964


$305,464.00


ANALYSIS OF DEPRECIATION CASH FUND for the Year Ended December 31, 1964


Balance, January 1, 1964 $ 20,458.00


Add-Receipts (Appropriated at Town Meeting) 107,447.00


127,905.00


Deduct-Disbursements for Renewals


and Replacements (Obsolescence) 102,603.00


Balance, December 31, 1964


$ 25,302.00


COMMENTS


The Municipal Light Department is on the accrual basis, by law, whereas the Town itself is on the cash basis, by law.


It has been said that a Municipality goes in and out of business every year. The Light Department, as a business, goes on and on.


The Balance Sheet is an historical narrative of the business. It is a statement of its assets and equities at a point of time. The Balance Sheet is a statement of financial position; the Income and Expense Statement, one of progress. The Balance Sheet has been referred to as a "snapshot". and the Income and Expense Statement as a "moving picture".


The Income and Expense Statement reflects the results of operations for the year. It can be construed as being supplemental to the Balance Sheet, primarily reflecting and accounting for the change in the equity of the Town in the Department as a result of operations during the calendar year. The Balance Sheet and Income and Expense Statement are comple- mentary; neither statement alone gives a complete picture of the status quo and progress of the Light Department.


The Surplus Statement represents the balance of the net profits of the Light Department after deducting the distributions to the Town. It is the connecting link between the Balance Sheet and the Income and Expense Statement. It is the excess of the assets of the Light Department over its liabilities: "What we own, less what we owe," the equity of the Town in the Light Department; the investment of the Town.


645,041.00


468


TOWN OF NORWOOD


The Net Profit for the year 1964:


Per books, as reported to the Dept. of Public Utilities $ 312,593.78 Less-Bonds Paid 95,000.00


Balance $ 217,593.78


The net cash turned over to the Town Treasurer was . ..


$ 90,907.28 (See attached Analysis of General Cash)


The original cost of the plant is $3,977,643.36


The net book value (after depreciation) is $2,269,135.68


For 1964, the per cent of Net Profit (per Department of Public Utility Regulations) was 5.47%


The Light Department is conducted exactly like all other Departments (of the Town) :


All monies are appropriated at Town Meetings. All receipts are turned over to the Treasurer. No funds are expended that are not appropriated.


The Town Accountant is required to estimate the receipts for the current year, (1965) based on the actual receipts for the prior year (1964), which amount is $1,812,000.00.


The number of employees is estimated to be The cash expended for Salaries and Wages is estimated at The overall condition of the plant is now being surveyed by engineers, and will be reported on at a later date. It should be noted that all Cash and Customer trans- actions are audited periodically by the office of the Director of Accounts, and all statements, schedules, rates, kilowatt hours, etc., are carefully scrutinized by the Dept. of Public Utilities, after review and preparation in the Light Dept. by an independent Public Accountant.


$ 283,898.95


The Honorable Board of Selectmen Norwood, Massachusetts


Gentlemen:


The foregoing is submitted as the report of the Town Clerk and Accountant for the year ending December 31, 1964, setting forth abstracts of the records of town meetings and elections, vital statistics and state- ments of the appropriations and expenditures and the receipts from each source of income, also statement of funded debt, information relative to maturities and debt, the balance sheet showing the assets and liabilities at the close of the fiscal year.


BARTLEY W. CONNOLLY Town Clerk and Accountant


43


469


REPORT OF STATE AUDIT


REPORT OF STATE AUDIT


To the Board of Selectmen Mr. Thomas K. McManus, Chairman Norwood, Massachusetts


Gentlemen:


I submit herewith my report, of an audit of the books and accounts of the Town of Norwood for the period from September 12, 1961 to March 31, 1964, made in accordance with the provisions of Chapter 44, General Laws. This is in the form of a report made to me by Mr. William Schwartz, Assistant Chief of Bureau.


Very truly yours,


ARTHUR H. MacKINNON Director of Accounts


REPORT OF AUDITOR


Mr. Arthur H. Mackinnon Director of Accounts Department of Corporations and Taxation Boston, Massachusetts




Need help finding more records? Try our genealogical records directory which has more than 1 million sources to help you more easily locate the available records.