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